Senior Accountant - Part Time

The Innovative Startups and SMEs Fund (ISSF) aims to increase early stage equity finance for innovative small and medium-sized enterprises (SMEs) in Jordan. ISSF puts into practice the first recommendation of the Jordanian Economic Policy Council to set up a fund to facilitate financing for innovative startups and SMEs in an effort to increase the level of startups with high-growth potential. The fund was established and is to be managed based on best international investment practices. The ISSF will invest in Jordanian innovative companies and in funds, incubators, accelerators and service providers seeking to support SMEs, entrepreneurship and the innovation space. The ISSF is created as a special purpose vehicle with contributions from the Central Bank of Jordan and the World Bank bringing the total working capital of the ISSF to US$98 million. The ISSF's initial investment strategy will be to use a combination of direct investments in SMEs alongside private investment funds seeking to leverage financing on specific deals and indirect investment in SMEs through funds. Initial selection criteria for all investments and an overview of the Fund can be found in the Project Operations Manual (POM).

General Scope of Duties

The JLGC to appoint a Part Time Senior Accountant to provide consulting services for the Project. The Finance Officer will be responsible for the financial management of the project. The selected consultant will manage the project accounts, follow up on project commitments and contracts and ensure smooth processing of all payment procedures under the project, including management and replenishment of the Designated Account, and ensure that World Bank requirements for these activities are met. The selected candidate will report to the Director General of the Jordan Loan Guarantee Corporation (JLGC) the project implementing agency, and will work closely with the FM team at the Innovative Startups and SMEs Fund (ISSF) as well as with the Chief Financial Officer at the ISSF.

Responsibilities:

The specific functions and responsibilities of the Senior Accountant include, but are not limited to:

•Coordinate and collaborate with the Chief Financial Officer at the ISSF.

•Carry out the financial performance review of ISSF activities, in accordance with JLGC and World Bank requirements.

•Prepare Withdrawal Applications and supporting documents for requesting ISSF funds.

•Review all requests for payment for ISSF activities.

•Sign off on monthly and annual budget and financial reports and present them as required to the World Bank and other parties as required.

•Review accounting and internal control procedures and ensure financial management implementation of all ISSF components.

•Oversee the establishment of liaisons with any involved banks holding ISSF accounts.

•Coordinate with the World Bank on the auditing of the ISSF Financial Statements.

•Reconcile, on monthly basis, the Designated Account balance with the World Bank records

•Prepare the quarterly unaudited interim financial reports (IFRs) and submit to the World Bank within 45 days after each quarter end date.

•Coordinate with an external auditor while auditing the Financial Statements on annual basis.

•Other Financial Management Tasks as required

Contract Conditions

Appointment: The project duration is six years. The contract for this position will be issued for one year with the possibility for a longer-term renewal subject to the approval of JLGC management and according to performance. The initial appointment will begin with a 3-months trial period.

Part-Time: The position requires part-time services of the consultant.

Location: This position will be located at JLGC Building.

Selection: The selection for this position will take place according to the requirements of the JLGC in addition to World Bank Regulation for competitive selection.