As a Senior Financial Management Officer, you will: a) provide operational services in conducting financial due diligence of projects during processing and management during implementation; (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: (i) review of audited project and entity financial statements (APFS/AEFS) for all assigned projects following ADB's internal review guidelines including updating automated review checklists, monitoring and quality improvement; and (ii) 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 and summarize these and expected actions in a regular report.
Diligently follow up with project teams and EAs to achieve compliance with ADB FM requirements.
Monitor the follow-up actions identified from APFS and AEFS review or other related actions and verify project related information to assist APFS and AEFS review.
preparation and agreement of cost estimates and a financing plan, which are based on verifiable data and are sufficient 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 risks are identified to project financial sustainability or viability.
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, as needed.
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 timely implementation of financial management action plans, and communicate with EAs and IAs to resolve issues related to compliance along with the project team leader.
Participates in and contributes to internal and external training and conferences and other activities for advocacy, distribution, and knowledge building on FM.
Supports the implementation of stand-alone and technical assistance related FM capacity building programs for clients.
Prepare and implement a capacity development plan for EAs/IAs to improve their understanding of ADB financial management requirements; conduct FM training and coaching programs for EAs/IAs.
Lead efforts for building the capacity of audit firms engaged by ADB projects.
Requirements:
Bachelor's degree in accounting, finance, or a related field; preferably with Master's degree or equivalent.
Professional qualification in accounting (e.g. CPA, CA, ACCA) from an internationally recognized institution (e.g., IFAC). A CFA qualification is an advantage.
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 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 (in particular the COSO framework); (iii) experience in auditing including assessing auditors' competence; and (iv) experience in advising clients on the design and implementation of FM systems, including financial and management reports.
Excel in a self-directed work environment to accomplish assigned transactions, areas of analysis and research, which have well-defined scope and steps.
Proficiency in expressing ideas in both spoken and written formats (and report-writing) in English.
Demonstrated critical thinking and problem solving skills.
Able to guide administrative staff to facilitate work planning, delivery and quality review.
Proficiency in MS Word, MS Excel, MS PowerPoint; familiarity with database management tools.
Able to work well with teams as a constructive team member.
