Financial Management Specialists / Senior Financial Management Specialists

Location
Philippines (PH)
Salary
Internationally competitive, paid in US dollars
Posted
03 Jul 2019
Closes
31 Jul 2019
Position/Level
Professional / Specialist
Responsibilities
Accounting, Analyst, Finance, Strategy
Contract Type
Permanent
Language
English

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.

The positions will be assigned to various operational or other departments in ADB.

ADB only hires nationals of its 68 members.

To view ADB Organizational Chart, please click here.

Job Purpose

The Financial Management Specialist / Senior Financial Management Specialist will support or take the lead in providing technical guidance and advice, knowledge sharing and capacity building to support department’s project financial management and financial due diligence (FDD) function to ensure high standards for the ADB’s overall financial management performance.

The incumbent will report to the designated Director and may supervise one or more National and Administrative Staff.

Qualifications

Responsibilities:

  • Provide technical guidance, information, analysis and advice on financial management and FDD issues in department’s operational activities in line with relevant ADB policies, guidelines and instructions.
  • Support/Lead the continuous development and implementation of department’s internal guidelines and procedures (consistent with ADB’s guidelines) for review of Audited Project Financial Statements and Audited Entity Financial Statements (APFS/AEFS), monitoring and quality improvement.
  • Advise and support Resident Missions (RMs) in the development of strategies for financial management in the relevant Developing Member Countries (DMCs).
  • Provide technical guidance and support to project teams on financial due diligence work by:
    • Supporting/leading the conduct of financial management assessments of executing and implementing agencies, including: (a) assessing whether previous financial management assessments have been conducted by ADB or other agencies and, if so, reviewing the results and ascertaining whether these can be used as input; (b) assessing capacity for planning and budgeting, management and financial accounting, reporting, auditing, internal controls, and information systems; (c) reviewing proposed disbursement and funds-flow arrangements; and (d) concluding on the financial management risk rating and identifying and confirming measures for addressing identified deficiencies
    • Supporting the preparation and agreement of cost estimates and a financing plan, which are based on verifiable data and are sufficient to support project implementation
    • Supporting/leading the preparation of financial projections and conducting financial analyses of the executing and implementing agencies, and incremental recurrent costs, to determine financial sustainability, and reviewing proposed cost-recovery and tariff policies, including affordability
    • Supporting/leading the conduct of financial evaluations (financial cost-benefit analyses) including sensitivity analyses of project components that have a cost-recovery objective to assess project financial viability
    • Proposing mitigation measures to be incorporated in financial covenants when significant risks are identified to project or entity financial sustainability or viability
    • Assessing and reaching agreement on financial reporting, auditing and public disclosure arrangements for the project, and, as appropriate, identifying and agreeing arrangements for receiving financial statements from executing and/or implementing agencies
  • Support project teams to respond to financial management issues during management and staff review meetings.
  • Participate in project preparation and/or review missions responsible for financial issues in the processing and implementation of projects, and help resolve problems, as needed.
  • Supervise the review of APFS/AEFS for department projects following the internal review process; provide comments and guidance to project teams on quality issues in APFS/AEFS and project implementation matters disclosed in the reports.
  • Ensure compliance with ADB’s financial management and audit requirements by reviewing, validating, monitoring and evaluating project teams’ implementation status of audit recommendations.
  • Ensure quality control of departmental inputs on financial management and in the review of various operational and non-operational documents, and of project documents in relation to financial management.
  • Ensure quality control of departmental reports, briefings and presentations on APFS, AEFS and other financial management related matters.
  • Assess, design and/or implement stand-alone and technical assistance related financial management capacity building programs for clients and financial management focal.
  • Undertake knowledge sharing activities and regular communications with counterparts within and outside ADB to keep abreast with the latest developments in international and national financial management and analysis practices
  • Take the role of mission leader and supervise the work of mission members and consultants
  • Supervise the performance of reporting staff and ensure ongoing learning and development

Relevant Experience & Requirements:

  • Master's Degree, or equivalent, in Business, Finance, Commerce, or related fields. University degree in Business, Finance, commerce or related fields, combined with specialized experience in similar organization/s, may be considered in lieu of a Master's degree
  • 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
  • Significant relevant professional experience in private sector or public sector financial management (i.e., accounting, budgeting, auditing), or related area
  • International experience working in several countries, particularly ADB’s DMCs
  • Credible expert in field of expertise with recognized ability to lead projects and to share relevant knowledge to benefit the broader ADB community
  • Excellent oral and written communication skills in English
  • Able to mentor team members, providing guidance and advice on delivery of services
  • For other competencies, relevant to the position, please refer to the link for ADB Competency Framework for International Staff Level 3/4 and Level 5 

General Considerations

The selected candidate is appointed for an initial term of three 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.

Closing date:13 August 2019