Financial Management Analyst

World Bank, Kabul, Afghanistan

Skill Required:, Finance and Accounts
Preferred Experience: 
3 Years
Closing Date for Applications: 
3rd January, 2020


Job Description

Description

Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org

Governance Global Practice Context

An effective and accountable governance framework, in the form of functioning institutions, is a necessary precondition for sustainable poverty reduction. Fragile, ineffective or inexistent institutions have long been put forward as explaining the relative underperformance of economies. Furthermore, poor governance and structural deficiencies in public and private institutions are often prevalent in fragile and conflict affected states. On the other hand, cross-country empirics have confirmed that higher institutional quality is correlated with higher levels of per capita income and greater economic growth. Thus, governance mechanisms and institutions are critical to sustained growth and poverty alleviation.

The Governance Global Practice brings together professionals in procurement, financial management, taxation, public management, regulatory policy, transparency, digital governance, law and development, anticorruption, and social accountability to develop innovative, integrated solutions to pernicious institutional problems. The practice utilizes a problem-driven, diagnostic approach, combining global comparative knowledge of reform successes and failures with keen understanding of the institutional challenges and opportunities of developing countries.

The GGP interventions range from diagnostics, technical assistance and advisory services, knowledge management and sharing, creating peer learning platforms, lending and reform project implementation, and monitoring and reporting. An important part of its responsibilities is to deliver operational support to other Practices, including through inputs for policy-based operations, hands-on implementation advice and direct fiduciary due diligence of investment financing.

Regional/Country Context

The South Asia Region (SAR) has the largest concentration of poor people of any WBG region. It is home to 1.5 billion people, with over 1 billion living under US$2 a day. It has had high growth of 6 percent a year on average for the last 20 years, despite its poverty, conflict, and instability. The WBG is and will continue to be a key development partner in South Asia, with a current portfolio of over 200 projects and total commitments of around US$38 billion. The South Asia Region (SAR) strategy is based on three pillars, which are: promoting growth, enhancing social inclusion, and strengthening climate/environment. Each of these pillars is directly relevant to Afghanistan.

Afghanistan is in a state of transition which involves the phased handover of security responsibilities from international forces to the Afghan government. This process is characterized by political and security uncertainty. The World Bank engagement in Afghanistan is significant: International Development Association (IDA) contributions amount to about US$ 150m IDA assistance annually. At the same time, the country team is managing the World Bank’s largest multi-donor trust fund, the Afghanistan Reconstruction Trust Fund (ARTF), which currently provides about US$ 1 billion annually. With the anticipated decline in international donor presence, the World Bank’s role within the international community will become even more pronounced. The World Bank currently has more than 33 active ATRF and IDA projects in Afghanistan.

Within the Bank program in Afghanistan, the ESAG1 carries a heavy load with a work program that includes both task management of stand-alone PFM operations and the Recurrent Costs window of the ARTF as well as several technical assistance engagements and analytical work. In addition, the Unit provides fiduciary oversight of all Bank and ARTF financed operations. Financial Management fiduciary work is carried out by a team of Financial Management Specialists (FMSs), and the FMSs are fully integrated members of project task teams in line with Bank-wide guidelines.

ESAG1 financial management work follows the FM risk assessment process and approach described in the Regional Quality Assurance Guidelines. Core FM activities include: i) FM fiduciary assessments for new investment operations (funded from loans, credits, grants, and Trust Funds); ii) FM fiduciary supervision of investment operations in the portfolio; iii) FM aspects of Development Policy Lending fiduciary issues and policy matrices, iv) FM-related ASA work, and iv) FM capacity building, technical assistance, advice, and oversight to clients and task teams at the project, entity, sub-national, and country level, including task management of stand-alone FM capacity building projects as well as FM components within other projects.

The Practice Manager (PM) assigns projects, analytical work, and capacity building activities to FM staff based upon several factors including: geography, risk, sector specialty, experience, staff interest, professional development goals, and workload balancing. These assignments are reviewed at least annually to ensure that unit and staff objectives are being met and that allocated resources are sufficient.

The Governance Global Practice in SAR is looking for a Financial Management Analyst (FMA) based in Kabul, Afghanistan who will be part of the SAR ESAG1 team, working closely with country teams under the guidance of the FM Coordinator, and reporting to the Practice Manager (PM). The FMA is expected to work on all FM aspects related to the World Bank operations in Afghanistan.

Duties and Accountabilities

The Financial Management Analyst (FMA) will be part of the Regional FM team and is expected to work on all FM aspects related to the World Bank operations in Afghanistan. This will include, but not limited to:

  • assessing the adequacy of project financial management arrangements;
  • providing implementation support and supervising projects financed by grants, loans or credits;
  • ensuring compliance with the Bank’s audit and other fiduciary requirements, and that project operations are carried out in accordance with sound financial management practices;
  • being involved in analytical work on FM and accountability issues and
  • carrying out capacity building activities.

The FMA will work with country team, including Task Team Leaders, Procurement and other technical specialists, and Administrative and Client Service (ACS) staff. The FMA is expected to assume the following specific duties and responsibilities under direct mentorship of the senior financial management specialist:

  • Ensure delivery of quality financial management services on projects to support the achievement of project development objectives;
  • Assess the adequacy of the borrower’s financial management systems and their ability to manage and monitor World Bank financed projects, including at the sectoral level, where needed. This includes budgeting, policies and procedures, internal controls, accounting, financial reporting and auditing;
  • Prepare financial management assessment reports for the projects in consultation with the project task team and under supervision of FM Coordinator.
  • Review relevant sections of project and/or program appraisal and administration documents, and Legal Agreements, and provide input on project financial management arrangements;
  • Provide implementation support and carry out periodic supervision work to ensure that project FM systems are functioning appropriately, including preparation of FM supervision reports and the review of periodic interim financial reports;
  • Participate in periodic Implementation Support Missions and provide input to the Aide Memoires and Implementation Status & Results Reports.
  • Monitor and use information in the Bank’s systems (PRIMA, WBdocs and SAP), maintain PRIMA updated and fix exceptions in fiduciary portfolio reports within the agreed timeline;
  • Review audited financial statements and other periodic financial reports received, monitor the borrower’s compliance with financial covenants including audit compliance, ensure adequate communication with the borrower and the project implementing agencies with respect to audits and other financial reports, and advise as appropriate;
  • Contribute to unit’s Work Program Agreement, including participation in Sector Dialogue with government and other Global Practice Teams.

Selection Criteria

Minimum Education and Professional Background

The candidate should have an equivalent of a Master’s degree in accounting, business, finance, economics or related subject and three years of relevant experience. A professional accountancy associate membership (CPA, CA or equivalent membership of an internationally recognized professional accounting institute) or progress in acquiring the professional qualification would be an added advantage. The position requires a motivated and seasoned financial management analyst with strong analytical and interpersonal skills and a commitment to work in challenging and low capacity environments.

Essential Specialized Skills/Experience

  • At least three years’ relevant experience in financial management;
  • Knowledge of International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA);
  • 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;
  • 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;
  • Ability to communicate effectively, in writing and orally in English, including situations requiring negotiations; and
  • Willingness and ability to travel frequently.

Technical Competencies

  • Budget Formulation and Execution – Understands the overall dimensions of the budget cycle and flow-of-fund arrangements. Understands budget formulation and application of chart of accounts at the project level. Under senior staff guidance, ability to perform FM assessments, provide advice and contribute to capacity building on budget formulation and execution processes at the project level.
  • Financial Management Information Systems – Understands the overall functionalities of Financial Management Information Systems (FMISs).
  • Internal Controls, Internal Audit, and Risk Management – Understands internal control and risk management concepts, including the COSO/ERM framework. Understands a wide range of internal control activities. Understands the objectives, value and scope of internal audit, and its distinctions with external audit and other control functions.
  • Accounting and Financial Reporting – Understands the structure and principles of the International Accounting and Financial Reporting Standards (IFRS or comparable national standards), the International Public-Sector Accounting Standards (IPSAS or comparable national standards), and project financial reporting. Interprets financial information prepared with the use of such standards.
  • External Audit and Oversight – Understands international auditing standards issued by IFAC and INTOSAI. Ability to review audited project and entity financial statements, identifying deficiencies and gaps in compliance with financing agreement covenants, including audit compliance. Ability to communicate technical audit issues to clients in an effective manner, and follow-up on issues raised by the auditors, including management letters.
  • Financial Management Risk and Performance at project level – Understands and can apply the Bank's fiduciary risk and FM risk model.
  • Operational project Management – Ability to carry out background analysis on relevant project issues, including good practices and lessons learned. Understands sources of financing available to support project implementation.

Behavioral Competencies

  • Client Orientation - Proactively addresses client needs. Takes personal responsibility and accountability for timely response to client queries, requests or needs. Anticipates client needs and responds based on clear understanding of needs and concerns.
  • Drive for Results - Accepts accountability for tasks. Takes personal ownership to meet deadlines and achieve agreed-upon results. Follows up for completion, coordinates with others, and ensures that others with whom he or she is working deliver on time and to quality standards.
  • Teamwork and Inclusion - Values working in collaboration and respecting views of others. Collaborates with other team members and contributes productively to the team's work and output. Fully involves others in the work of the team. Shows respect for different points of view and incorporates into own work program. Contributes as required to the work of others in the department.
  • Knowledge, Learning and Communication - Shares, seeks out and uses global good practices and operationally relevant knowledge to improve development impact. Uses available resources from within and outside the WBG to build knowledge and acquire new skills. Shares knowledge across the World Bank Group and seeks input and feedback from others.
  • Business Judgment and Analytical Decision Making - Analyzes available information and makes evidence based ethical decisions. Analyzes facts and data to support sound, logical decisions regarding own and others' work.

Source:https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=5401&site=1


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