OFFICE OF THE SERVICES COMMISSIONS (Central Government

OFFICE OF THE SERVICES COMMISSIONS
(Central Government)
30 National Heroes Circle
Kingston 4
Jamaica
Telephone: 922-8600
Fax: 924-9764
E-mail: [email protected]
Website: www.osc.gov.jm
CIRCULAR No. 43
OSC Ref. C. 46646
12th February, 2015
Permanent Secretaries and Heads of Departments are asked to invite applications from
suitably qualified officers in their Ministries/Departments to fill the post of Director, Debt
Management (FMG/PA 4) in the Accountant General’s Department, salary $2,469,614 $2,935,594 per annum and any allowance(s) attached to the post.
Job Summary
The incumbent has responsibility to:
 Service on a timely basis all direct debts of the Government of Jamaica based
on debt information received from the Ministry of Finance and Planning.
 Administer certain loans and salary advances provided by the Government for
Public officers.
 Oversee preparation of the necessary annual, financial and appropriation
statements.
Key Responsibilities
To maintain accurate and up to date records of loans contracted directly by
Government as well as those guaranteed by Government:
Implements an efficient and comprehensive database system to document and provide
relevant data and information on all loans;
Monitors on a continuous basis the operation of the above system to ensure efficient
and effective debt servicing, accounting and reporting;
Maintains accurate and up to date records of loans contracted directly by Government
as well as those guaranteed by Government;
Ensures that all input data to the computer system are accurate and on time.
To ensure that debt service obligations by the Government of Jamaica are met on a
timely basis:
Prepares accurate budget estimates for debt servicing and ensures that adequate levels
of funding is acquired to satisfy commitments;
Analyzes statements from external lending agencies eg. CIDA, USAID, and CDB to
verify the accuracy and applications of calculations;
Supervises the calculation of interest and principal payments on local and foreign
loans, Government guaranteed loans, Government securities issued and redemption of
land bonds;
Advises the Bank of Jamaica when to make payment and other relevant information on
each loan;
Checks and collates annual statements and cash flow for Public Debt estimates;
Checks monthly cash flow showing amount required for payment of interest, principal
repayments and expenses incurred in raising the loan;
2/…
-2Ensures that the public debt accounts are maintained in an appropriate and professional
manner;
Monitors the requests for warrants to ensure that these are made in a timely manner;
Makes timely payments to lenders re-repayment and other charges on direct loans and
those guaranteed loans taken over by Government including ad hoc payments for
guaranteed loans where the borrower is unable to pay;
Liaises with the Debt Management Branch, Ministry of Finance and Planning regarding
any changes in debt servicing decisions e.g., rescheduling decisions or prepayments;
Ensures that these changes are implemented.
To administer certain loans and salary advances provided by the Government of
Jamaica for public officers as well as repayments by Ministries, Departments and
Agencies of loans lines of credit:
Manages the establishment and maintenance of the Revolving Fund for motor vehicle
loans, motor vehicle insurance loans and salary advances;
Approves motor vehicle insurance loans for public officers;
Ensures that individual loans records are kept and maintained for salary loans, motor
vehicle loans, motor vehicle insurance loans etc. granted to public officers;
Monitors advances approved by the Ministry of Finance and Planning to ensure that
clearance is within the particular financial year;
Assists with the monitoring of delinquent borrowers and ensures the recovery of loans
and motor vehicles;
Liaises with the Resident Magistrate’s bailiff and the Ministry of Finance and Planning
regarding the recovery and sale of motor vehicles repossessed.
To provide financial statements annually, quarterly and monthly on:
i. Status of loans
ii. The expenditure on loans
iii. Requirements for servicing the loans
Co-ordinators the preparation and dissemination of critical reports especially those
which are necessary for economic and financial analysis in the Ministry of Finance and
Planning and which have a significant impact on the formulation of economic policies;
Prepares the Annual Public Debt Statements and quarterly reports to the World Bank on
all foreign loans including guaranteed loans;
Submits monthly reports of status to Debt Management Unit (DMU) and Cash
Management Section of Public Expenditure Division, Ministry of Finance and Planning;
Monitors debt servicing by borrowers in respect of loans (domestic and foreign)
guaranteed by Government of Jamaica, and submits monthly reports on default to the
Public Enterprise Division, Ministry of Finance and Planning;
Ensures that monthly statements are issued for internal use and for the Ministry of
Finance and Planning;
Ensures that Public Debt annual statements are submitted to the Auditor General.
To manage the land bonds register:
Establishes register in accordance with the requirements of section 10 of the Land Bond
regulations;
Co-ordinates the annual Land Bond Drawing (Lottery System) to determine early
redemption ;
Monitors the payout of redemption on presentation of bonds certificate;
Maintains land bonds fund account (reconciliation and prepares annual statements).
To lead and manage the branch in the achievement of the above mentioned objectives:
Plans, organizes and directs the work of the branch by seeing the development of the
corporate, operations and work plans and budget;
Conducts periodic reviews of supervisees in accordance with the work plans;
3/…
-3Develops and manages the performance of the branch and staff including transferring
skills, motivating staff, setting performance targets, monitoring performance, providing
feedback and arranging for training;
Conducts final assessment of supervisees based on performance assessment criteria
and prepares performance report;
Signs the performance management report;
Promotes the career development of all staff in the branch by means of in-service
training attachments and attendance at seminars;
Convenes monthly staff meeting and ad-hoc meetings as necessary to discuss job
scheduling and any problems encountered so as to provide solutions for achieving the
objectives;
Ensures that the members of staff have sufficient and appropriate physical resources to
undertake their duties efficiently and effectively;
Maintains effective working relations with external and internal stakeholders and
customers, ensuring that the branch provides a consistently high level of service to
them.
Minimum Required Qualification and Experience
A Bachelor’s Degree in Accounting/Management Studies with Accounting or
BBA Degree from a recognized University. (Post-graduate training in Accounting is an
asset) or
ACCA Level 2 or 3, or
Associate of Science Degree in Accounting, MIND, along with the Diploma in
Government Accounting, MIND
Eight (8) years’ work experience in a related field with at least five (5) years in a senior
management position
Applications accompanied by résumés should be submitted no later than Friday,
27th February, 2015 to:
Director
Human Resource Management and Administration
Accountant General’s Department
Public Building East
King Street
Kingston
Please note that only short listed applicants will be contacted.
Please ensure that a copy of this circular is placed at a strategic position on the Notice
Board of the Ministry/Department and brought to the attention of all eligible officers.