ADB Associate Financial Management Officer / 200492 148 views

IMPORTANT INFORMATION:

Close relatives1 of ADB staff, except spouses of international staff, are not eligible for recruitment and appointment to staff positions. Applicants are expected to disclose if they have any relative/s by consanguinity/blood, by adoption and/or by affinity/marriage presently employed in ADB.

1Close relatives refer to spouse, children, mother, father, brother and sister, niece, nephew, aunt and uncle

Staff on probation are not eligible to apply. Applicants for promotion must have served at their position for at least one year and must have normally served at their personal level for at least two years immediately preceding the date of the vacancy closing date. Applicants for lateral transfer must have served at their position and personal level for at least one year immediately preceding the date of the vacancy closing date (reference A.O. 2.03, paragraphs 5.8 and 5.9).

In the event that the staff appointed to a new category (i.e. from AS to NS, or from NS to IS) is rated at 2 or lower in the first two performance reviews after appointment at the new level, they will return to the level occupied immediately prior to their appointment in the new category.

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 in the Office of the Director General of East Asia Department (EARD/EAOD), which is responsible for establishing and maintaining relationships on all matters concerning ADB operations with the People’s Republic of China (PRC) and Mongolia (MON) in the East Asia subregion, and with other multilateral and bilateral development agencies and other sources of development finance on matters relating to the subregion. EAOD provides overall coordinating assistance to the EARD Regional Management Team; in terms of development of country strategies and work programs, programming of public sector loan and technical assistance projects, undertaking project administration, mobilizing official cofinancing from external sources for development projects, coordinating knowledge management work, ensuring safeguards compliance of projects, coordinating with other ADB departments and with external development partners, and overseeing operations of ADB’s resident missions in PRC and MON.

To view ADB Organizational Chart, please click here.

Job Purpose

The Associate Financial Management Officer supports financial management of EARD, including support to teams in the conduct of financial management assessment and financial due diligence of projects under processing, monitoring of financial covenants for projects under administration, and building capacity and sharing knowledge on financial management The incumbent will report to designated International Staff.

Responsibilities

Financial management of EARD by: (i) sharing with EARD staff updated knowledge on ADB policies, guidelines, and instructions (e.g., Access to Information Policy, Operations Manuals, Project Administration Instructions, technical guidance notes) pertaining to financial management; (ii) contributing to continuous improvement of EARD’s internal procedures for review, monitoring, and quality improvement of audited project financial statements (APFS) and audited entity financial statements (AEFS); (iii) coordinating the review of APFS and AEFS for EARD projects and preparation of checklists in ADB’s format including identification of shortcomings and follow up actions; (iv) ensuring that project teams are advised on the shortcomings and follow up actions; (v) supporting project teams’ regular communication to the executing and implementing agencies and auditors on the follow up actions; and (vi) ensuring compliance with ADB’s financial management and audit requirements by monitoring project teams’ implementation of the flow up actions. Specific tasks are described below:

• Provides technical guidance, information, analysis and advice on financial management and financial analysis issues in EARD’s operational activities in line with ADB policies, guidelines and instructions.

• Contributes to the continuous development and implementation of EARD’s internal guidelines and procedures (consistent with ADB’s overall requirements) for APFS and AEFS review, monitoring and quality improvement.

• Provides technical support to Senior Finance Specialist and works closely with EARD’s Senior Financial Management Officers on financial due diligence work of project teams by:

  • supporting the conduct of a financial management assessment of the 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 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 the conduct of financial evaluations (financial cost-benefit analyses) including sensitivity analyses of project components that have a cost-recovery objective;

  • where significant risks are identified to project financial sustainability or viability, proposing risk mitigation measures to be incorporated in financial covenants; and

  • 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.

• Contributes to the project teams’ preparations in responding to financial management issues during management and staff review meetings

• Participates in project preparation and/or review missions to help resolve problems related to project financial management, as needed

• Provides support in the supervision of the review of APFS and AEFS for EARD projects following the internal review process; provides comments and guidance to project teams on quality issues in APFS, AEFS and project implementation matters disclosed in the reports.

• Ensures compliance with ADB’s financial management and audit requirements by reviewing, validating, monitoring and evaluating project teams’ implementation status of audited recommendations.

• Coordinates departmental inputs on financial management and contributes to the review of various operational and non-operational documents, and quality control of project documents in relation to financial management.

• Prepares departmental reports, briefings and presentations on APFS, AEFS and other financial management related-matters in close coordination and consultation with SDs, RMs and Public Financial Management Division (PFFM).

• Co-leads in assessing, designing and/or implementing financial management capacity building programs for clients and financial management focals in close coordination and consultation with SDs, RMs and PFFM.

  Undertakes knowledge sharing activities and regular communications with counterparts within and outside ADB to keep abreast of the latest developments in international and national financial management and analysis practices.

  Qualifications

  Relevant Experience & Requirements

  • Bachelor’s degree in Accountancy or related fields, preferably with advanced training; a Certified Public Accountant.
  • At least 6 years of combined professional experience in Financial Management (i.e., accounting, finance, auditing, and financial due diligence); experience in project administration and portfolio management for international cooperation projects an advantage.

  • Excellent written and verbal communication skills in English is required

  • Please refer to the link for ADB Competency Framework for National Staff levels 1-2

  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.