Duties and Accountabilities:
• The Senior Financial Management Specialist [Sr. FMS] will work on PRMM activities primarily in Sri Lanka and Maldives. Sr. FMS will also support other countries in the South Asia region if and when the need arises.
He/she is expected to perform a full range of operational duties, working under minimal supervision, and to take a leading role in the following tasks:
• Task Management/Team membership of ongoing PFM lending, Technical Assistance operations and Advisory Services and Analytics (ASAs) financed by the Bank;
• Take a lead role designing robust Financial Management arrangements and providing implementation support during preparation and supervision of high visibility, complex, and high risk operations such as Development Policy Financings (DPFs) and Program for Results (P4R);
• Lead the development and implementation of approaches to make greater use of country systems for Bank-assisted operations;
• Lead and/or take a proactive role in ground-breaking initiatives and play a key role in developing innovative practical approaches to difficult policy and operational issues at the Regional, and/or Sectoral level
• Ensure the integration of key public financial management and governance thematic areas in the country work program and promote multi-sector approaches;
• Actively promote dialogue and close working relationships with the IMF and the donor community, civil society organizations as well as the accountancy profession;
• In coordination with other sectors, leading the design and execution of major PFM policy initiatives in Sri Lanka/Maldives, including task management of capacity building projects involving complex funding mechanisms;
• Develop and build client relations at senior levels and play and contribute to generating new business for the Bank;
• Promoting and share knowledge on public financial management and major new corporate initiatives, instruments, and requirements—such as P4Rs;
• Lead departmental or institutional task forces on developing and implementing changes to financial management policies and practices, fiduciary safeguards and the efficiency and effectiveness of business processes and risk management;
• Facilitate and promote in-country cooperation with other development partners in the area of public financial management and governance, including diagnostic work, capacity building initiatives, use of country systems and harmonization
Minimum Education and Professional Background
• The candidate should be a professional accountant (CPA, CA or equivalent membership of an internationally recognized professional accounting institute) with a Bachelor’s degree in accounting, business, finance, economics or related subject and eight years of relevant professional experience.
• The CPA requirement may be substituted with an Advanced Degree in a relevant discipline (e.g. Public Sector Finance) and significant experience (8+ years) in public financial management.
• The position requires a motivated and seasoned financial management specialist with strong analytical and interpersonal skills, significant leadership experience in operational and analytic support to the client drawing on diverse teams, and a commitment to work in a challenging and low capacity environment.
Essential Specialized Skills/Experience
• Eight years of relevant experience in financial management with cross regional or country experience.
• Knowledge of International Financial Reporting Standards (IFRS) and International Standards on Auditing;
• Experience in designing and assessing internal control systems and procedures, using internationally acceptable control frameworks such as COSO;
• Knowledge of accounting, auditing and financial reporting systems and software packages;
• Experience and/or ability in evaluating audits, assessing auditor competence and following up on issues resulting from audits;
• Ability to interpret financial and project management reports and to determine appropriate remedial actions;
• Knowledge of current issues in FM, including those relating to the public sector and those relating to developing countries;
• Ability to understand cross-cutting issues beyond financial management (e.g., procurement, governance, public sector management) at sector/country level;
• Ability to conceptualize, design and implement country or sector level financial management capacity building initiatives;
• Ability to distill and disseminate financial management knowledge;
• Experience in advising clients on design and implementation of FM systems, including financial and management reports;
• Strong planning, organization and time management skills required to facilitate teamwork and to contribute towards a common goal;
• Ability to handle multiple tasks and projects;
• Strong analytical capabilities and proven skills to deal with FM issues innovatively and independently;
• Experience in PFM reforms and PFM analytical work, including the PEFA Performance Measurement Framework, and knowledge of the various dimensions of the PFM cycle (budget formulation, execution, controls, accounting and reporting, auditing and oversight of public finances).
• PFM Sector Dialogue and Policy Advice - Conducts sector dialogue: (i) disseminating good/best practice to clients, and (ii) helping clients adapt Bank strategies, best practice to meet priority needs in a realistic fashion, taking into account prevailing constraints in the country/sector
• Budget Formulation and Execution - Demonstrates expertise of the budget comprehensiveness, processes, classifications, documentation, directives, treasury and cash management, and the links and impacts of the budget in Bank’s financing and project implementation including full understanding of Integrated Financial Management Information Systems (IFMIS) in government treasuries and experience in managing IFMIS projects.
• Ability to communicate effectively, in writing and orally in English, including situations requiring negotiation; and
• Willingness and ability to travel.
How To Apply: