Financial Management Officer Asian Development Bank Experience: Atleast 8 years Delhi, India Apply By: 28-11-2024

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Description

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Organizational Setting and Reporting Relationship

• The position of Financial Management Officer is assigned to the Public Financial Management Division (PFFM1) within the Procurement, Portfolio and Financial Management Department (PPFD). You will be based at our India Resident Mission office in Delhi, India.
• You will report to Director, PFFM1 and designated International Staff and senior National Staff.

Your Role

• As a Financial Management Officer, you will: a) provide operational services in conducting financial due diligence of projects during processing and supervision during implementation; (b) support country FM assessments and FM systems strengthening initiatives; and (c) coordinate the development and delivery of knowledge sharing and capacity building support.
• Though the position is based in India, you can be assigned to work on tasks in other developing member countries of ADB as needed.

You will:

Operational services

• Lead: (i) review of audited project and entity financial statements (APFS and 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 agencies (EAs) on issues identified in the APFS and AEFS, including compliance with financial covenants.
• Analyze noncompliance or delayed compliance with APFS and AEFS submission, as well as 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.
• Regularly 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.
• Facilitate and participate in project review missions to help resolve problems related to project financial management.
• 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 implementation of financial management action plans and communicate with EAs and implementing agencies (IAs) to resolve issues related to compliance along with the project team leader.
• Lead, and/or participate in, the financial due diligence work for project processing in the:
• Conduct a financial management assessment of the EAs/IAs, including: (i) ascertaining whether previous financial management assessments have been conducted by ADB or other agencies and, if so, reviewing the results and determining whether these can be updated for the project; (ii) assessing capacity for planning and budgeting, management and financial accounting, reporting, auditing, internal controls, and information systems; (iii) reviewing proposed disbursement and funds-flow arrangements; and (iv) concluding on the financial management risk rating and identifying and confirming measures for addressing identified deficiencies;
• Prepare and agree on 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 significant risks are identified to project financial sustainability or viability; and
• Assess and achieve agreement on financial reporting, auditing and public disclosure arrangements for the project, and, as appropriate, identifying and agreeing arrangements for receiving financial statements from EAs/IAs.

Country FM Systems

• Participate as a team member for preparation of country or regional partnership strategy, governance risk assessments, or country public financial management assessments (e.g., public expenditure and financial accountability assessments).
• Review country FM systems and monitor changes related to project financial management, audit, taxation, and other finance-related areas, and update country management and staff regularly on any changes that may affect project implementation and performance.

Knowledge management

• Contribute to internal and external training and conferences and other activities for advocacy, dissemination, and knowledge building on FM.
• Support the implementation of stand-alone and technical assistance related FM capacity building programs for clients.
• Train staff of ADB and EAs.

Other tasks

• Other tasks assigned and reflected in your workplan.

Qualifications

You will need:

• Bachelor’s degree in Accounting, finance, or a related field preferably with advanced training.
• Professional qualification in accounting (e.g. CPA, CA) from a professional accounting organization affiliated to 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).
• 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, International Public Sector Accounting Standards, and International Standards on Auditing and/or national equivalents; (ii) experience with internal control systems and procedures (in particular the Committee of Sponsoring Organizations 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.
• Ability to work independently on assigned transactions, areas of analysis and research, which have well-defined scope and steps.
• Effective report-writing and strong oral and written communication skills in English;
• Good analytical and conceptual skills.
• Ability to liaise and work effectively with government officials.
• Ability to guide administrative staff to facilitate work planning, delivery and quality review.
• Strong planning, organizational and administrative skills.
• Proficiency in MS Word, MS Excel, MS PowerPoint; familiarity with database management tools.
• Ability to work collaboratively with teams as a constructive team member.

Source: https://www.adb.org/careers/240793

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