Senior Financial Management Officer

Asian Development Bank

Papua New Guinea, Papua New Guinea

Experience: 5 to 10 Years

Skill Required: Finance & Accounting

As a Senior Financial Management Officer, you will: (a) provide operational services in conducting financial management tasks for projects during all stages of the operational cycle including processing, implementation and completion; (b) support country FM assessments and FM systems strengthening projects; and (c) coordinate the development and delivery of knowledge sharing and capacity building support.

Responsibilities

  • Lead the review of audited project and entity financial statements (APFS/AEFS) for all assigned projects following ADB's internal review guidelines including updating checklists, monitoring and quality improvement.
  • FM support to project teams to communicate with executing and/or implementing agencies (EAs/IAs) on issues identified in the APFS and AEFS, including compliance with financial covenants.
  • Analyze non-compliance or delayed compliance with APFS and AEFS submission and public disclosure requirements, and quality, common issues and deficiencies in APFS and AEFS.
  • Monitor the follow-up actions identified from financial management activities.
  • Conduct a financial management assessment of the EAs/IAs, including: ascertaining whether previous financial management assessments have been conducted by ADB or other agencies and, if so, reviewing the results and determining whether these can be updated for the project.
  • Assessing capacity for planning and budgeting, management and financial accounting, reporting, auditing, internal controls, and information systems.
  • Reviewing proposed disbursement and funds-flow arrangements; and (iv) concluding on the financial management risk rating and identifying and confirming measures for addressing identified deficiencies;
  • preparation and agreement of cost estimates and a financing plan, which are based on verifiable data and are to support project implementation in collaboration with technical team members;
  • Prepare financial projections and conducting financial analyses of the EAs/IAs, and incremental recurrent costs, to determine financial sustainability, and reviewing proposed cost-recovery and tariff policies, including affordability;
  • Conduct financial evaluations (financial cost-benefit analyses) including sensitivity analyses of project components that have a full cost-recovery objective;
  • Develop risk mitigation measures to be incorporated in financial covenants where significant risks are identified to project financial sustainability or viability; and
  • assessment and achievement of agreement on financial reporting, auditing and public disclosure arrangements for the project, and, identifying and agreeing arrangements for receiving financial statements from EAs/IAs.
  • Facilitate and participate in project preparation and/or review missions to help resolve problems related to project financial management.
  • Input and update project data and records in ADB information systems and databases.
  • Monitor the assigned projects' compliance with financial covenants in the legal agreements and coordinate with project teams to follow up on achieving compliance.
  • Monitor the implementation of financial management action plans and communicate with EAs and IAs to resolve issues related to compliance along with the project team leader.

Requirements:

  • Bachelor's degree preferably with Master's degree in Accounting, finance, or a related field.
  • Professional qualification in accounting (e.g. CPA, CA) from an internationally recognized institution (e.g., IFAC).
  • A CFA qualification is desirable.
  • At least 8 years of relevant professional experience in private or public sector financial management (i.e., in accounting, budgeting, auditing) and at least 4 years of supervisory experience.
  • Experience with (a) investment project appraisal, and (b) appraisal processes of financial institutions including multilateral development banks for sovereign and non-sovereign transactions is a valuable asset.
  • Advanced and broad knowledge of all aspects of FM, including: (i) International Financial Reporting Standards and International Standards on Auditing; (ii) experience with internal control systems and procedures (in particular the Committee of Sponsoring Organizations framework); (iii) experience in auditing including assessing auditors' competence; and (iv) experience advising clients on the design and implementation of FM systems, including financial and management reports.
  • Have independent working skills on assigned transactions, areas of analysis and research, which have well-defined scope and steps.
  • Report-writing with proficiency in expressing ideas in both spoken and written formats in English;
  • Liaise and work with government officials.
  • Guide administrative staff to facilitate work planning, delivery and quality review.
  • Have planning, organizational and administrative skills.

Source: https://www.adb.org/careers/250518