Finance Consultant State of Yap 2

FEDERATED STATES OF MICRONESIA REQUEST FOR EXPRESSIONS OF INTEREST Country Federated States of Micronesia

Project Project for Strengthening Public Financial Management II (P181237)

Project Implementing Agency / Client Department of Finance and Administration (DOFA)

Assignment Title Finance Consultant for Yap State

Selection Method Open International

Contract Type Time Based

Reference No. FM-DOFA-574066-CS-INDV

Credit/Grant No. IDA-E4120

Date of Advertisement October 16, 2026

Deadline for Submission October 31, 2026

The Government of The Federated States of Micronesia (FSM) has received financing from the World Bank toward the cost of the Strengthening Public Financial Management II (PFM II) Project (P181237) and intends to apply part of the proceeds for consulting services.

The consulting services (“the Services”) involve providing full-time technical advisory and capacity-building support under Component 2 – Expand Core Financial Management Information System (FMIS), Subcomponent 2.1 – Continued Rollout of Core Public Finance System of the PFM II Project.

The Finance Consultant for Yap State will support the Yap State Finance Department in the continued rollout, operationalization, and stabilization of the FreeBalance FMIS. The assignment will focus on validating financial transactions and data migrated from FundWare to FreeBalance, reconciling FY26 opening balances, strengthening accounting and financial reporting processes, improving internal controls related to FMIS operations, and building the capacity of State Finance staff to use the system effectively and sustainably.

The key responsibilities will include, but not be limited to: Reviewing and validating financial transactions, account balances, and data migrated from FundWare to FreeBalance, including the reconciliation and validation of FY26 opening balances. Supporting FreeBalance stabilization by identifying, documenting, prioritizing, escalating, and following up on accounting, data migration, transaction-processing, reporting, and system-related issues. Supporting monthly financial reporting, bank reconciliations, accounting entries, and month-end and year-end accounting processes in accordance with applicable GASB, GAAP, and FSM accounting requirements. Reviewing and strengthening internal controls, accounting procedures, and compliance-monitoring practices relevant to FMIS operations. Providing hands-on coaching and on-the-job training to Yap State Finance staff in government accounting, FreeBalance operations, reconciliations, financial reporting, data validation, and issue resolution. Coordinating with the FSM Department of Finance and Administration at the National Government level, the PFM II Project Management Unit, the FMIS Adviser, ICT personnel, and FreeBalance specialists to resolve accounting and system issues and support sustainable FMIS operations.

The assignment will be based in Colonia, Yap State, Federated States of Micronesia , with coordination with the FSM Department of Finance and Administration at the National Government level. The consultancy is expected to be full-time for twelve (12) months, with an anticipated start date as soon as possible, subject to completion of the selection and contracting process.

The detailed Terms of Reference (TOR) for the assignment can be found at the Department of Finance and Administration website: https://dofa.gov.fm , as part of this REOI, or can be obtained at the address given below.

The Department of Finance and Administration now invites eligible individuals (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. Consultants should submit a Curriculum Vitae (CV) describing their qualifications, professional experience, experience in similar assignments and relevant experience in similar institutional or country contexts together with a cover letter outlining their interest in the assignment and suitability for the position.

The criteria for selecting the Consultant are:

Mandatory Requirements:

The Consultant shall possess:

Education: A Master's degree in Accounting. Candidates holding a CPA qualification together with a degree in Finance, Information Systems, Public Administration, or an equivalent related field are also encouraged to apply. Professional Experience: At least ten (10) years of progressive experience in public sector accounting, financial management, and Public Financial Management (PFM) reforms. Technical Expertise: Demonstrated expertise in applying Governmental Accounting Standards Board (GASB) pronouncements and Generally Accepted Accounting Principles (GAAP), extensive experience with FMIS implementation, operationalization, stabilization, transaction processing, financial reporting, reconciliation and/or data migration, and demonstrated ability to identify, analyze, and resolve accounting, financial data, and system-related issues in an FMIS environment.

Desirable:

Software Proficiency: Experience with FundWare and/or FreeBalance, particularly in FMIS stabilization, troubleshooting, issue escalation, and coordination with system vendors and national-level technical teams. Capacity Building and Communication: Proven ability to train and mentor government staff in financial reporting, PFM principles, and new software systems, supported by excellent analytical, communication, and report-writing skills. Governmental Accounting Knowledge: Thorough knowledge of governmental fund financial statements and government-wide financial reporting, including the Statement of Net Position, the three categories of Net Position, program and general revenues, Transfers and Internal Balances, the five categories of Fund Balance, and the distinction between Revenues and Other Financing Sources and Expenditures and Other Financing Uses.

Geographic Experience: Prior experience wor