The Republic of Uganda MINISTRY OF FINANCE, PLANNING AND ECONOMIC DEVELOPMENT The Third Financial Management and Accountability Programme (FINMAP III) Request for Expression of Interest For CASH MANAGEMENT EXPERT REF: MoFPED/FINMAP III/CONS (SRVCS)/14-15/00120 NOVEMBER 2014 Ministry of Finance, Planning & Economic Development The Third Financial Management and Accountability Programme Plot 2/12 Apollo Kaggwa Road P.O. Box 8147 Tel: 256-414-707900 Email: finmap@finance.go.ug Website: www.finance.go.ug. 1
The Government of Uganda (GoU) is implementing the Third Financial Management and Accountability Programme (FINMAP III) with the primary purpose to improve effectiveness, efficiency and attain value for money in the control and management of public resources ultimately contributing to improved service delivery. A new Directorate for Debt and Cash Management has recently been established under the Ministry of Finance, Planning and Economic Development (MoFPED) as part of the Public Service Reform Programme (PSRP). This Directorate is responsible for the management of all government cash, issuance and management all government debt in accordance with the ministry s economic policies, GoU legal and regulatory framework. MoFPED has to date built capacity in external debt management but lacks sufficient capacity for active Cash management and Debt issuance as these are new functions arising from the restructuring of the Ministry. Government maintains an integrated financial management system for Ministries, Departments and Agencies (MDAs) and a Treasury Single Account framework is also under implementation to ensure efficient and cost effective cash management of the Consolidated Fund and other public moneys. It is in this context that the Government through FINMAP III would like to engage a for an initial contract period of one (1) year, renewable on satisfactory performance to provide technical support to the Directorate of Debt and Cash Management (DDCM). The consultant through the Director/DCM will provide advisory roles to the Permanent Secretary/Secretary to the Treasury on the issuance and management of all Government cash as well as to develop and implement appropriate policies, procedures and systems in accordance with best practice. Purpose: The purpose of this role is to develop the Directorate s capacity for effective cash management through provision of technical support in review, development and implementation of appropriate operational policies, procedures, systems and provide hands on training of staff. In addition, provide recommendation to infrastructure requirement for the operation of the cash management function in relation to other existing PFM systems. Reporting: The Consultant will report to the Director/DCM in performing this assignment and agreed upon targets as per deliverables expected in the consultancy contract. Key Duties and Responsibilities: The scope of the work will be based on the following areas:- 1. Review, develop and support implementation of Cash Management and Investment framework with clearly defined operational policies, procedures and related set up documentation. 2. Set up appropriate systems and define business process flows for analysis, modeling and evaluation. 3. Support development and maintenance of Spending Cash Plans and a comprehensive Annual Financing Programme for Government. 4. Advise on the refinement and extension of the Treasury Single Account (TSA) framework for effective Cash management operations. Page 2 of 5
5. Capacity building including on-job training for GOU staff deployed in the Cash Management Unit. 6. Support the establishment and operation of the Cash management function at spending entities level; including development of instructional materials for developing cash forecasts, direct the preparation of cash flow reports on spending limits, review of the votes cash plans and recommendations for modification/implementation. 7. Oversee the cconsolidation and analysis of votes cash needs in order to forecast, monitor and track Government cash flows at monthly, weekly and daily as appropriate. 8. Provide technical support in forecasting of cash revenue inflows and manage information flows on revenue collections and projections as well as interfacing with all government revenue sources. 9. Develop and support implementation of a strategy for mmanaging cash surpluses. 10. Provide technical support in the mmanagement of the UCF and other investments funds; as may be required by law. 11. Establish a monitoring and control framework on the Cash management and Financing Program and investigate any outliers. This will entail development of processes for error analysis versus forecasts and follow up. 12. Works with the Cash Management Unit, other MoFPED departments and MDAs to accurately forecast timing and amount of future cash flows over the short to medium term period. 13. Advise the Cash Management Committee and Technical Working group in the analysis and monitoring of spending limits. 14. Support the banking relations with Bank of Uganda and Commercial Banks in relation to cash management function and investment options 15. Perform any other duties that may be assigned by the supervisor from time to time. Deliverables 1. Cash Management operational procedures, guides and other set up documentation. 2. Investment Policy guidelines and reporting templates for portfolio management. 3. Cash Forecasting model and mechanism for the Cash Management Department with linkage to the spending votes including system and infrastructure requirements defined and user guides. 4. Templates and procedures for development of an Annual Financing Program. 5. Cash flow forecast reporting templates and data accrual procedures for yearly, monthly, weekly and daily reporting as appropriate. 6. Cash flow reports on Budget Expenditure Performance. 7. Support the institutionalising of the Cash Management Committee and Technical Work Group. 8. Strategy for managing cash surpluses. 9. GoU staff capacity developed in the Cash management function. Performance Reporting Obligations of the Consultant An Inception report detailing the consultants work plan and targets 1. Monthly Performance Reports indicating tasks undertaken against targets agreed. 2. Half-yearly report to the D/DCM, on the overall performance of the Cash Management programme and deliverables of the Consultant. 3. An Annual Performance Report indicating the deliverables of the Consultant against the agreed targets and overall performance of the Cash Management Programme. 4. Any other Reports as may be requested by Government from time to time. Page 3 of 5
The required consultant should possess qualifications and competences as outlined below. Education 1. Must possess a Bachelor s Honors Degree from an internationally recognized University in Accounting, Economics, Statistics, Actuarial Mathematics, Banking, Finance or other Business related discipline. 2. Must possess a Postgraduate qualification or recognized Professional certification in a relevant field (Public Finance, Treasury, Accounting, Business Administration, Banking or Economics). Knowledge 1. Demonstrated knowledge and working experience in establishment and capacity development of the Cash management function in a large financial institution and another Government s cash management operation. 2. Demonstrated knowledge and experience in design, analysis, implementation and review of government cash forecasting models and programs. 3. Working experience and familiarity with banking, cash management, planning and reporting tools/systems including ability to extract data and manipulate it to support planning and reporting functions/requirements. 4. Understanding and demonstrated knowledge and experience of Investment and Portfolio Management skills in a Treasury management function. 5. Proven analytical and strong quantitative aptitude with ability to identify problems, isolate causes, and formulate, execute solutions. 6. Strong attention to detail and commitment to data integrity. 7. Advanced working knowledge of Microsoft Office Packages (Word, Excel, Power point and Project). 8. Excellent oral and written communication skills along with the ability to communicate and negotiate with a variety of internal and external stakeholders. 9. Strong managerial, planning, organizational, decision-making, interpersonal and logic thinking skills. Working Experience: A minimum of ten (10) years related work experience in reputable institutions is required with detailed knowledge of Cash Management operations in a Central Bank, Ministry responsible for Finance or large Financial Institution. Preparation and submission of Expressions of Interest Expressions of Interest should contain the following documents and information; 1. Detailed curriculum vitae detailing the level of academic and professional qualifications achieved, Employment record (Starting with present position in reverse order providing dates, name of employing organization, titles of positions held, types of activities performed and location of the assignment, and contact information of previous clients and employing organization(s) who can be contacted for references. Past employment that is not relevant to the assignment does not need to be included. 2. Fee rate per month; 3. Covering letter stating the suitability and availability of the consultant for the assignment. Page 4 of 5
The EoI shall be submitted using the one stage-single envelope submission method at the address below not later 1700 hrs on 9 January 2015: The Programme Coordinator The Third Financial Management and Accountability Programme (FINMAP IIII), Ministry of Finance, Planning and Economic Development, Plot 2/12 Apollo Kaggwa Road Finance Building, 3rd Floor, Room 3.4 P.O. Box 8147 Kampala, Uganda Telephone: 256-414-707900 Email: finmap@finance.g.ug Evaluation of Expressions of Interest The criteria to be used to select the consultants shall be based on the qualification and experience requirements detailed above, and the consultant s capacity to provide the required services. The selection may also take into references and use interviews to assess the skills, qualifications and experience of the consultant. The consultant shall be notified of the arrangements for the interview, and where the consultant who is invited for interviews fails to attend, the consultant shall be eliminated from the selection process. Page 5 of 5