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.
