Invitation for Request for Expressions of Interest    Status:Approved


Ministry/Division : Ministry of Finance
Agency : Insurance Development and Regulatory Authority
Procuring Entity Name : Joint Secretary, Project Director, Financial Institutions Division
Procuring Entity Code :
Procuring Entity District : Dhaka
Expression of Interest for Selection of : Individual Consultant (National)  (Time-Based)
Title Of Service : Accounts Associate, Finance Specialist & Systems Implementation Support Specialists
EOI Ref. No. : No. : 53.03.0000. 599
Date : 28/09/2022


Procurement Sub-Method : Selection of Individual Consultants (SIC)


Budget and Source of Funds : Development Budget GOB
Development Partners : International Development Agency (IDA)


Project/Programme Name : Bangladesh Insurance Sector Development Project
EOI Closing Date and Time : 16/10/2022 04:00 PM
Publication Date : 03/10/2022


Brief Description of Assignment : Accounts Associate (AA): Number of the post: 1 (one): Package Number: S – 1.7-1: The duties and responsibilities of the Accounts Associate along with the key requirements for the position are defined below: • Maintain register, books and other records in appropriate order to meet statutory and reporting requirements of IDA and GOB and to facilitate classification and analysis of financial information including file maintenance in orderly and easily retrievable manners. • Timely and accurately record transactions in a computerized environment to fulfill accurate and efficient reporting requirement consistently. • Prepare annual and revised budget of the project for ADP, revision of DPP and various monthly/quarterly/Yearly reports of the FID, MoF, Planning Commission, IMED & PIU. • Check and verify bills, for procurement of goods, works and services for the project as per applicable rules and forwarding to the PD for payment approval. • Ensure deduction and payment of Income Tax, CD & VAT on invoices as Government Rules. • Assist both external and internal auditors in carrying out audit by providing necessary financial information and respond to the audit queries. • Perform any other duty, as and when, delegated by the PD. Finance Specialist (FS): Number of the post: 1 (one): Package Number: S – 1.6: The duties and responsibilities of the Finance Specialist along with the key requirements for the position are defined below: • Full compliance with IDA and GOB rules, regulations, and policies of financial activities, financial recording/reporting system and follow-up on audit recommendations; • Implementation of effective internal controls, • Prepares the yearly planning of the financial needs for forthcoming periods based on DPP/FA/PAD/ Procurement Plan. • Timely and accurately recording financial transactions in a Computerized Accounting System (CAS) and accurate and efficient reporting requirement consistently. • Maintenance of DA Account/CONTASA & monthly bank reconciliation correctly and timely. • Prepare document for timely replenishment of donor’s fund and submission of withdrawal request and SOE Account. • Draft quarterly Interim Unaudited Financial Report (IUFR) and ensuring their timely submission to IDA. • Prepare annual and quarterly disbursement forecast for all component of the project in line with the procurement and implementation plan. • Assist both external and internal auditors in carrying out audit by providing necessary financial information and respond to the audit queries. • Perform any other duty, as and when, delegated by the Authority. Systems Implementation Support Specialists (SISS): Number of the post: 2 (two):Package Number: S – 13: The duties and responsibilities of the Systems Implementation Support Specialists along with the key requirements for the position are defined below: • Assist the PIU and project management teams in the smooth and successful implementation of the IT component of the project. • Review and finalize the work plans for implementation. • Manage the work of the vendor. • Ensure smooth implementation of activities. • Closely monitoring of IT packages implementation activates and plan with a defined timeline/schedule and seek regular feedback from IT Vendors and another associated party. • Collaborating with the PIU in order to settle all the matters and solve all issues within the given time in concern of IT package implementation. • Oversee technology and system implementation progress by communicating and collaborating with selected IT vendors, the project team of project beneficiary organizations, and IT consulting firm day to day basis. • Recognizing time-critical matters/constraints during IT package implementation and communicating and collaborating with the authority immediately. • Assist PIU to collect technical and business requirement documents within a defined schedule by communicating and collaborating with project beneficiaries' organization related to IT packages implementation by the vendor • Interact with the IT vendors and IT Consulting firm on a regular basis to validate the IT implementation plan and seek regular feedback on the implementation plan accordingly. • Proper documentation and filing of the IT packages implantation activity • Work closely with other relevant consultants/specialists of the PIU • Other relevant duties assigned by the Project Director.
Experience, Resources and Delivery Capacity Required : Accounts Associate (AA): Number of the post: 1 (one):Package Number: S – 1.7-1: Master’s Degree in Accounting/MBA from any recognized university or CA course complete from a chartered accounting firm. Experience & Specific Skills for AA: • Minimum 3 years of relevant experience in the field of accounting & financial management. • Experience in accounts and fund management of donor-assisted projects will be given preference. • Excellent computer skills in Microsoft Office tools (Word, Excel, Power Point) Internet use, Tally, accounting package, including database use is required. Finance Specialist (FS): Number of the post: 1 (one): Package Number: S – 1.6: • M. Com/MBA in accounting/Finance/Related Subject • Preference will be given to a professionally qualified accountant (CA, ACCA, CPA, CFA, CMA and CIMA) with minimum of Five years post qualification experience. Operational knowledge in accounting software will be an added advantage, but not mandatory. • Proven track record of ability to develop a Chart of Accounts befitting the relevant computerized accounting system and the reporting; • Experience in the effective supervision of personnel; • Self-guided, strong organizational and planning skills with the ability to work independently as a team player and under pressure; • Strong interpersonal communicative skills, experience in team leadership and participatory management; Experience & Specific Skills for FS: a. Minimum 5 Year work experience in financial management in Govt. / autonomous / private sector. b. Work experience in handing fund of donor aided project preferably IDA funded project for 3 years. c. Comprehensive knowledge and understanding in GOB and IDA audit system. d. High level of proficiency in written and spoken English and report writing. e. Computer literacy and skills (MS Word, Excel, SPSS, and other statistical software, & Power Point etc.) is essential. Systems Implementation Support Specialists (SISS): Number of the post: 2 (two):Package Number: S – 13: • Engineering (Computer Science/ Computer Science and Engineering /Electrical and Electronics Engineering/ICT/ Information System Security (ISS). Experience & Specific Skills for SISS: • 12- Years’ overall experience in the ICT field preferably in the Financial Sector. • At least 08 (Eight) years' IT professional experience within the financial sector; • Proven track record who has similar experience in IT systems implementation in a multi-vendor environment. • Working Experience in enterprise-level ICT hardware and software applications deployment. • Excellent teamwork and interpersonal skills in operating collaboratively across organizational boundaries. • Proven project management experience leading technical projects end to end; • Proven track record of managing Major IT infrastructure and systems deployment projects in the Insurance/Financial sector. • Global Standard Certifications on relevant fields are preferred like CISA, CISSP. • Fluency in English is required.
Other Details (if applicable) : Duration: 17 (seventeen) months. However, the duration of the assignment may be increased or decreased according to the availability of the associate & Specialists, project needs and budget. IDRA now invites applications from eligible applicants to express their interest in providing their services (complete CV with detail information about employment history with duties and responsibilities, current remuneration, expected remuneration, academic details, major publications (if any), one copy passport size photograph, contact address including telephone number & e-mail). The Associate & Specialists will be selected by using the Selection of Individual Consultant method in accordance with the World Bank’s Procurement Guidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits and grants by World Bank Borrowers, January 2011 (Revised July 2014). Only the short listed candidates will be contacted. It is expected that the service will be commenced in October, 2022 or nearer time.
Association with foreign firms is :
Eoi Detail Information
Ref No Phasing Of Services Location Start Date Completion Date


Name of Official Inviting EOI : Md. Kamruzzaman ndc
Designation of Official Inviting EOI : (Joint Secretary) , Project Director
Address of Official Inviting EOI : Insurance Development and Regulatory Authority, Financial Institutions Division, Ministry of Finance , Jiban Bima Tower Bhaban, Front Block (5th Floor) , 10, Dilkusha C/A, Dhaka-1000
Contact details of Official Inviting EOI : Phone : -, Fax : , Email :
The procuring entity reserves the right to accept or reject all tenders