Financial Management Specialist

Join Our Mission to Foster Prosperity in Asia

Are you ready to make a difference in the future of Asia and be a catalyst for positive change We are thrilled to offer a unique opportunity to become an important part of the prestigious Asian Development Bank (ADB). At ADB our mission is simple yet powerful: to alleviate poverty and promote sustainable development in the Asia-Pacific region.

Organizational Setting and Reporting Relationship

The position of Financial Management Specialist is assigned to the Public Financial Management Division (PFFM) within the Procurement Portfolio and Financial Management Department. You will be based at our Headquarters in Manila Philippines.

You will report to Director and will oversee junior team members and consultants as required.

Your Role

As a Financial Management Specialist you will support or take the lead in providing technical guidance and advice knowledge sharing and capacity building to support departments project financial management and financial due diligence (FDD) function to ensure quality of work for the ADBs 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 guidelines and instructions.
• Support the continuous development and implementation of financial management guidelines and procedures (consistent with ADBs guidelines) for review of Audited Project Financial Statements and Audited Entity Financial Statements (APFS/AEFS) monitoring and quality improvement.
• Advise sovereign operations teams and Resident Missions (RMs) in the development of strategies for financial management in the relevant developing member countries (DMCs).
• Propose areas for streamlining/ automation in particular to support ADBs digitalization agenda for implementation both in ADBs internal operations and for ADBs borrowers and executing agencies.
• 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 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 risks are identified to project or entity financial sustainability or viability; and
  • Assess and reach to an agreement on financial reporting auditing and public disclosure arrangements for the project and identify and agree arrangements for receiving financial statements from executing and/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 ADBs financial management and audit requirements by reviewing validating monitoring and evaluating implementation status of audit recommendations.
• Ensure quality control of financial management inputs in various 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 remain current on 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.
• Oversee the performance of reporting staff and ensure ongoing learning and development.

You will need:

• A University degree 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 ADBs DMCs.
• Credible expert in field of expertise with recognized ability to lead projects and to share relevant knowledge to benefit the broader ADB community.
• Proficiency in expressing ideas in both spoken and written formats in English.
• Mentor team members providing guidance and advice on delivery of services.
• Please refer to the link for ADB Competency Framework for Technical International Staff Level 1 (TI1).

Benefits

ADB offers competitive compensation and a comprehensive benefits package. The salary will be based on ADBs standards and comparator markets considering your qualifications and experience.

• Paid leave (including parental)
• Medical and health benefits
• Life and other insurance plans
• Staff development
• Retirement plan
• Housing and education allowance (if applicable)
• Expatriate benefits (for international staff)

Additional Information

This appointment is open to internal and external applicants.

This is a fixed-term appointment for an initial fixed period of 3 years. At the end of the initial period this appointment may at the option of ADB be extended once for up to 2 years converted to a regular appointment or ended on its expiration date. This decision will be made in the overall interest of ADB that: (a) it will require Staffs particular blend of skills and experience in the foreseeable future; and (b) Staffs performance is satisfactory and they are suitable for further employment.

About Us

Asian Development Bank (ADB) is an international development finance institution headquartered in Manila Philippines and is composed of 69 members 50 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 our Strategy 2030.

ADB only hires nationals of its 69 members.

To view ADB Organizational Chart please click here.

ADB wants 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.

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