Mennonite Economic Development Associates is hiring a
Mennonite Economic Development Associates (MEDA) invites applications for a FINANCE COMPLIANCE CONSULTANT to support the Resilience and Inclusion through Investment for Sustainable Agrikultura (RIISA) initiative.
MEDA’s work is built on a foundation of Mennonite business roots and faith-based values, within the global context of the UN Sustainable Development Goals. We believe business solutions are effective interventions to address poverty. Through a market-systems approach and strategic partnerships, MEDA enables access to finance and provides business and technical expertise to build transformative agri-food market systems that create decent jobs, allowing traditionally excluded groups to become active participants in a sustainable economy. MEDA welcomes all who share our values and want to join us in our mission. To find out more about MEDA, please visit our website at www.meda.org.
Background
MEDA is an international economic development organization whose mission is to create business solutions to poverty. Founded in 1953 by a group of business professionals, MEDA partners with the poor to start or grow small and medium-sized businesses in developing regions around the world.
In the Philippines, MEDA is implementing a five-year initiative Resilience and Inclusion through Investment for Sustainable Agrikultura (RIISA). It strives for more resilience and inclusive economic growth for women and men cacao smallholder farmers (SHFs) in Mindanao, Philippines, from strengthened cacao market systems supported by investment. With a focus on Davao region , RIISA responds to multiple challenges in the Philippines cacao sector and draws on MEDA’s experience in market systems development, gender lens investing (GLI), gender equality and social inclusion (GESI), and environment and climate change (ECC).
MEDA responds to these challenges by piloting an innovative market systems approach aimed at identifying cacao market system gaps, mobilize investment capital and strengthen local capacity, and gathering learnings that can be replicated by local ecosystems to strengthen the enabling environment. To accomplish this MEDA through RISSA project partners with small and medium enterprises (SMEs) and cooperatives in the cacao sector in Davao Region.
MEDA RIISA is looking for a skilled finance compliance consultant to support the MEDA Country Office in overseeing the financial compliance of MEDA partners- SMEs and cooperatives. The consultant will be responsible for conducting financial risk management with partners according to grant requirements. He/She will review partners' financial reports and financial management practices to ensure proper internal controls are in place, mitigating risks in accordance with local laws, regulations, donor requirements, and MEDA finance policies. The successful candidate must be based in Davao City and is expected to travel in different cities and municipalities in the Davao Region. The period of the short-term assignment.
Scope of Work
The consultant will perform the following responsibilities:
Work with MEDA’s Technical and Finance Team to ensure compliance, eligibility and adherence to MEDA and donor’s financial policies and reportorial requirements.
- Conduct of on-site field visits with the MEDA partners, validation, and desk reviews to monitor the partners’ compliance on the management of funds.
- Review of partners’ recordkeeping processes, including financial reports, and supporting documentation of all expenditures claimed.
- Regularly communicate financial monitoring visit findings with MEDA Technical and Financial Team
- Assist MEDA in conducting training or other related activities to support the financial compliance of its partners.
Recommend and document corrective action plans if any
- Provide report of the financial monitoring findings with recommendation and corrective action plan
- Follow through with action plans from previous monitoring with the partners
- Support MEDA partners in the preparation of financial reports and documentation of expenses
DELIVERABLES
Activities 1: Attendance to the orientation/ overview of the RIISA Project and current partnerships with SMEs and Coops
Deliverables:
• Attended orientation on the RIISA Project and partners’ overview.
• Developed a detailed workplan, logistic arrangements, and needed MEDA's support.
Timeframe: Within the first month
Activities 2: In coordination with RIISA’s Technical and Finance team, conduct field work and review of the local partner’s financial records, including supporting documentation
Deliverables:
• Conducted fieldwork with 14 SMEs and 15 Cooperatives bi-monthly.
• Held debrief sessions with SMEs and Cooperatives after monitoring visits, with action plans and recommendations.
Timeframe: Monthly or on a rolling basis
Activities 3: Document results of monitoring with SMEs and Coops, and any agreed action plans, and communicate these results to the appropriate MEDA staff.
Deliverable:
• Submitted written financial monitor reports, including action plans and recommendations for the 14 SMEs and 15 Cooperatives, accepted by MEDA staff.
Timeframe: Monthly or on a rolling basis
Activities 4: Assist SMEs and Coops on the preparation of reports and documentation of reported expenses
Deliverables:
• Provided coaching and mentoring to the 14 SMEs and 15 Cooperatives to ensure timely submission of financial reports from the SMEs and Cooperatives.
• Follow-up submission of financial reports with complete financial documents from SMEs and cooperatives
Timeframe: Monthly or on a rolling basis
Activities 5: Update MEDA on the progress of monitoring and assistance provided
Deliverable:
• Tracked the status of the financial monitoring action plans and recommendation and reported it to MEDA
Timeframe: Monthly or on a rolling basis
Qualifications & Selection Criteria
A. Generic and Mandatory:
B. Specific Expertise and Experience:
Reporting
The consultant will work with RIISA’s Finance team and Market System Development Lead. The consultant will report to the Finance Manager.
Application Procedure
Interested Consultant to send application to MEDA via email at RIISA_Submissions@meda.org by 5:00pm on July 5, 2024
Applications will be reviewed by a committee of MEDA staff. Only one Consultant will be selected, upon selection of Consultant, MEDA will enter a contract for the engagement.
Proponent shall follow the prescribed proposal format below and submit in electronic copy with the following information.
A. Contact Information