Assistant Controller
Job Vacancy | Wednesday, May 31, 2023
Overview
Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 68 members, 49 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030.
ADB only hires nationals of its 68 members.
The position is assigned to the Trust Fund and Administrative Expense Division (CTFA) within the Controller’s Department (CTL). CTL helps maintain adequate and sound internal control of processes in ADB and provides quality services to clients while maintaining sound fiduciary controls. CTFA is responsible for trust fund accounting and reporting and processing administrative expenses (payroll, pension, business travel, staff consultants, staff accounts, accounts payable, fixed assets, and accounts receivable) and administering the financial management accounting system for Resident Missions and overseeing administrative and capital expense payments and the accounting thereof.
Job Purpose
The Assistant Controller leads the planning, implementation and supervision of the division’s vision, goals, strategies, and work plan in support of overall ADB goals. Oversees the quality of work and ensures the achievement of objectives of the division as regards financial reporting, internal controls over financial transactions, safeguarding trust funds, authorizing administrative expenses, improving business processes, overseeing relevant financial systems, and developing policies and procedures. Supports external and internal relations, coordination, and consultation initiatives for the department. Provides general guidance and supervision on day-to-day operational issues and compliance with ADB policies. Works within a broad concept and framework to define own scope of objectives and activities, applying a high level of autonomy in selecting appropriate methods and approaches. The incumbent will report to the Controller and will supervise International Staff, National Staff and Administrative Staff.
Responsibilities
a. Leadership and Strategic Management
- Provides leadership in planning, implementation and supervision of work plans as well as monitors the quality of output and the achievement of long-term goals and annual objectives for the division.
- Provides leadership in professional and operational matters, taking the lead in contributing new or innovative approaches to developing accounting policies, procedures and resolving operational issues.
b. Financial Reporting, Analysis and Oversight
- Provides supervision and guidance in maintaining sound accounting policies, systems, and records.
- Ensures accurate and timely accounting of financial transactions and preparation of financial reports for trust fund operations.
- Leads improvements in financial reporting and related accounting functions.
- Ensures a sound internal control framework over financial reporting and transactions.
- Safeguards trust funds under the administration of ADB by (i) preparing financial information of special funds (except ADBI, TASF and ADF), trust funds, and project-specific cofinanced technical assistance (TA) and grants; (ii) ensuring appropriate and adequate controls are observed in the course of financial reports preparation; and (iii) preparing audited financial statements of trust funds and project-specific co-financed technical assistance and grants which require external audits in accordance with the provisions in the agreement with the Donors.
- Leads the review and subsequent implementation of improvements to financial systems, policies, and procedures to promote accuracy of information and efficiency in processing while maintaining appropriate internal controls.
c. Administrative and Other Expenses Processing and Accounting
- Provides supervision and guidance in ensuring payments and accounting of administrative and other expenses are in accordance with ADB's policies and procedures as well as the generally accepted accounting principles.
- Provides general support and guidance in ensuring that related processes are effective and efficient through streamlining and automating.
- Provides supervision and guidance in ensuring administrative expenses incurred by field offices are properly accounted and complies with ADB's internal guidelines and procedures. Oversees internal control assessment in Field Offices by monitoring the accounting system and procedures for internal administrative expenses (IAE), one-time establishment costs (OTEC) and capital expenditures (Capex) of a Field Office as well as other procedures in respect of financial and bookkeeping matters.
d. Operations Management
- Oversees effective day-to-day operations and provides guidance on operational issues and ADB policies.
- Informs and provides recommendations to the Controller of significant developments, emerging opportunities, and challenges in the area of responsibility.
- Facilitates effective coordination and cooperation with other ADB departments and internal stakeholders.
- Undertakes the performance management of the division, including motivation of division staff.
- Manages budget and resource allocation for the division, ensuring efficient allocation and utilization of resources, including staffing and training requirements.
e. Digital Transformation
- Supports ADB’s Digital Agenda by actively participating in identifying, delivering, and developing digital opportunities and strategies towards ADB’s digital transformation.
- Enhances CTL’s IT infrastructure and successfully implements new IT systems and tools to better support CTL’s business operations to adapt to the fast-evolving IT landscape affecting business processes and mode of financial transactions globally.
f. Internal and External Relations
- Provides support for relationship management and coordination with the Board, Senior Management, other departments, and external clients.
g. Staff Supervision
- Creates and leads multidisciplinary teams and ensures the overall quality of its work.
- Manages the performance of teams and individuals providing clear direction and regular monitoring and feedback on performance.
- Provides coaching and mentoring to teams and individuals and ensures their on-going learning and development.
- Supports and pursues appropriate gender balance.
- Promotes Culture Transformation Initiative (CTI) core values within the division.
Qualifications
Relevant Experience & Requirements
- Master's degree in accounting, finance, business administration or economics, with an internationally recognized professional certification, such as CPA, CA, or its equivalent. University degree and at least 10 years specialized experience relevant to the position can be considered.
- At least 15 years of broad-based professional experience in accounting, finance, and internal control.
- International experience working in several countries, preferably with experiences in international or multi-national financial institution.
- Strong knowledge of US accounting standards and/or international financial reporting standards.
- Demonstrates sound management skills by organizing and leading the team towards achieving the Division’s objectives, as well as to demonstrate understanding / technical knowledge in their area of responsibility.
- Widely recognized as a credible expert in field of expertise with recognized ability to lead projects and to share relevant knowledge.
- Proven management and leadership qualities.
- Excellent oral and written communication in English.
- Please refer to the link for ADB Competency Framework for International Staff Level 7.
General Considerations
The selected candidate, if new to ADB, is appointed for an initial term of three years.
ADB offers competitive remuneration and a comprehensive benefits package. The actual appointment salary will be based on ADB’s standards and computation, taking into account the selected individual’s qualifications and experience.
ADB seeks to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates who are nationals of ADB member countries to apply regardless of their racial, ethnic, religious, and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply.
Please note that the actual level and salary will be based on the qualifications of the selected candidate.
