Principal Financial Management Specialist

Job Vacancy | Thursday, March 9, 2023

IMPORTANT INFORMATION:

ADB has an ongoing organizational review which may result in the change of department/group and/or reporting arrangement(s). By proceeding with your application, you acknowledge and accept the possibility of such changes resulting from the organizational review.

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 Public Financial Management Division (PFFM) within the Procurement, Portfolio and Financial Management Department (PPFD). Financial Management (FM) is an integral component of ADB’s obligations to ensure that the projects it finances are financially viable and sustainable, that ADB funds are used for the purposes for which they were approved, and that borrowers have the capacity to fulfill their obligations under legal agreements. PPFD/PFFM supports the framework, guidelines, and processes regarding ADB’s FM mandate and responsibilities.

To view ADB Organizational Chart, please click here.

Job Purpose

The Principal Financial Management Specialist will (a) lead the implementation of corporate FM initiatives, development and revision of FM policy and guidance materials; (b) provide operational services in conducting financial due diligence of projects during processing and supervision during implementation; (c) ensure quality assurance of financial due diligence following a risk-based approach; (d) lead country FM assessments and FM systems strengthening initiatives; (e) coordinate the development and delivery of knowledge sharing and capacity building support to ADB and government staff; and (f) represent ADB on international platforms with other multilateral development banks and institutions engaged in audit, financial reporting, and governance.

The incumbent will report to the Director, PFFM and may supervise National and Administrative staff.

Responsibilities

Strategy and policy

• Leads the development and update of corporate FM policy and guidance materials, including operations’ manuals, staff instructions, project administration instructions, technical guidance notes, and other ad hoc guidance on fiduciary matters and strategies.
• Reviews other relevant ADB policies to ensure consistency from a financial management perspective.
• Contributes to the development, and monitor the implementation of, the FM functional results-based work plan.
• Supports dialogue with government officials on strengthening financial governance at the sector and agency / project levels and contribute to the development of country-led FM policy and reforms.

Operational Support

• Oversees and/or performs financial due diligence of projects during processing (financial management assessment, preparation and validation of cost estimates and financing plans, financial analysis and evaluation).
• Develops appropriate risk mitigation measures, including financial management action plans and key financial performance indicators to be incorporated as covenants in legal agreements to strengthen project and entity sustainability and governance.
• Develops innovative financial structures to support complex projects.
• Monitors compliance with financial covenants and timely implementation of risk mitigation measures during project implementation.
• Participates in project, regional and country portfolio review missions for discussing FM issues at the project, sectoral or portfolio level and help resolve complex issues.

Quality assurance

• Ensures quality control of FM-related inputs and components while reviewing operational and non-operational documents, corporate reports, presentations, and project documents.
• Provides technical oversight and guidance to project teams and FM team members on complex financial due diligence issues during project processing and implementation.
• Monitors compliance with ADB FM policies and guidance for project processing and implementation.
• Conducts/monitors FM quality assurance/peer review of project documents following the FM risk-based approach.
• Coordinates with FM staff across the FM function for consistency of approach, exchange of experiences, and continuous improvement of practices and integration of FM policy requirements in project processing and implementation.
• Mediates and supports resolution of any disagreements on FM issues between project team leads and FM team members during project processing and implementation.

Knowledge management

• Leads Country FM systems assessments and design initiatives to strengthen country and agency FM systems and their use in ADB operations, including governance risk assessments to inform the preparation of country and regional partnership strategies.
• Identifies areas for capacity development of FM staff in countries, sectors, and agencies.
• Assesses, designs and/or implements stand-alone and technical assistance related FM capacity building programs for clients.
• Develops FM knowledge products including sector/thematic studies and assessments, good practice examples, guidelines, and checklists.
• Participates in and contributes to internal and external training and conferences and other activities for advocacy, dissemination, and knowledge building on FM.
• Leads the development of FM training programs, and train staff of ADB and executing agencies.
• Acts as a mentor to junior team members, providing guidance on processing projects or technical assistance.
• Acts as a coach to develop capabilities/potential of junior colleagues.

Representation in International Platforms

• Represents ADB on the multilateral development banks’ harmonization committee, the International Organization of Supreme Audit Institutions Donor Cooperation committee, and other similar platforms for cooperation and collaboration on financial reporting, auditing, management, etc.

Other tasks

• Coordinates the delivery of FM services across a region or sector.
• Coordinates the preparation of reports to Management on the status of project performance reporting with reference to FM.
• Supervises the performance of teams and individuals, including consultants, providing clear direction and regular monitoring and feedback on performance.
• Performs any other FM tasks as may be assigned by Director, PFFM.

Qualifications

Relevant Experience & Requirements

• Master’s Degree, or equivalent, in Business, Finance, Commerce, or related fields. University degree in Business, Finance, commerce or related fields, and at least 5 years specialized experience relevant to the position can be considered.
• Professional qualification in accounting (e.g., CPA, CA, ACCA) from an internationally recognized institution (e.g., IFAC) is mandatory. A CFA qualification is an advantage.
• At least 12 years of relevant professional experience in private or public sector financial management (i.e., accounting, budgeting, auditing).
• International experience working in several countries. Experience working in developing countries is an advantage.
• Experience with (a) investment project appraisal, and (b) appraisal processes for sovereign and non-sovereign transactions of financial institutions including multilateral development banks is an advantage.
• 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 (particularly the COSO framework); (iii) extensive experience in auditing including assessing auditors’ capacity and competence; and (iv) experience in advising clients on the design and implementation of robust FM systems and arrangements.
• Proven application of expertise within a specific area of FM, or breadth across multiple areas.
• Credible expert with recognized ability to lead projects and share knowledge.
• Excellent oral and written communication skills in English.
• Ability to mentor team members, providing guidance and advice.
• Please refer to the link for ADB Competency Framework for International Staff Level 6.

General Considerations

The selected candidate, if new to ADB, is appointed for an initial term of 3 years.

ADB offers competitive remuneration and a comprehensive benefits package. 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 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 qualifications of the selected candidate.

출처: https://www.adb.org/careers/230080