Senior Financial Management Specialist

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

You will:

• Provide technical guidance, information, analysis and advice on financial management and FDD issues in sovereign operational activities following relevant ADB policies and instructions.
• Support the continuous implementation of financial management 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 sovereign operations and Resident Missions (RMs) in the development of strategies for financial management in the relevant Developing Member Countries (DMCs).
• Provide technical guidance as member of sovereign operations’ project teams on financial due diligence work by:
• Support/lead 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;
• Support the preparation and agreement of cost estimates and a financing plan, which are based on verifiable data and are enough to support project implementation;
• Support/lead 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;
• Support/lead the conduct of financial evaluations (financial cost-benefit analyses) including sensitivity analyses of project components that have a full cost-recovery objective to assess project financial viability;
• Propose mitigation measures to be incorporated in financial covenants when significant risks are identified to project or entity financial sustainability or viability; and
• Assess and reach agreement on financial reporting, auditing and public disclosure arrangements for the project, and, identifying and agreeing arrangements for receiving financial statements from executing or implementing agencies.
• 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.
• Conduct / supervise the review of APFS/AEFS for sovereign projects following the internal review process; provide guidance 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 and evaluating implementation status of audit recommendations.
• Ensure quality control of financial management inputs in the operational and non-operational documents, and of project documents concerning financial management.
• Ensure quality control of sovereign operations’ 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 borrowers, executing and implementing agencies, supreme audit institutions, private sector auditors, and financial management staff.
• Undertake knowledge sharing activities and regular communications with team members within and outside ADB to stay informed about the latest developments in international and national financial management and analysis practices.
• Participate in meetings of the Multilateral Development Banks’ Heads of Financial Management forum, forums of development partners with the International Federation of Accountants and the International Organization for Supreme Audit Institutions.
• Take the role of mission leader and oversee the work of mission members and consultants.
• Supervise the performance of reporting staff and ensure ongoing learning and development.

Qualifications:;

You will need:

• University degree in in Business, Finance, Commerce, or related fields; preferably at post-graduate level or its equivalent.
• 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 6 years of 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, preferably ADB’s DMCs.
• Demonstrated experience leading projects and conducting knowledge sharing sessions.
• Excellent verbal and written communication skills in English.
• Able to mentor team members, providing guidance on delivery of services.

Source: https://www.adb.org/careers/250289