Associate Financial Management Officer
Job offer at Asian Development Bank
Associate Financial Management Officer
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.
1) Multiple positions at various levels may be filled from this vacancy notice.
2) Actual position title and level will be based on the candidate’s qualifications, experience and job scope that will be assigned to the selected candidates.
3) Location – Initial appointment to ADB Headquarters, Manila, Philippines. Some positions may be outposted in a Field Office.
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 Portfolio, Results, Safeguards and Gender Unit (CWOD-PSG) within the Central and West Asia Department (CWRD). CWRD is responsible for maintaining client relations and delivering ADB assistance to countries in the Central and West Asia region. CWOD-PSG provides overall support and guidance in portfolio management, safeguards, and financial management for projects in CWRD member countries.
To view ADB Organizational Chart, please click here.
The Associate Financial Management Officer provides advice and support to the financial management (FM) function for CWRD’s project portfolio by working closely with CWRD’s FM focal points, project officers and analysts; and supports project teams working on CWRD’s project portfolio to ensure compliance related to audited project financial statements (APFSs), entity financial statements (AEFSs) and project processing due diligence. He/She will also provide support in implementing ADB FM policies and strategies. The incumbent will report to designated International Staff.
• Lead review of APFS and AEFS following the internal review process and exercise professional judgment; financial management support for project teams to communicate with executing and/or implementing agencies (EAs/IAs) on issues identified in the APFS and AEFS, including compliance with financial covenants; and preparation of checklists in accordance with ADB’s internal guidelines and procedures for APFS review, monitoring and quality improvement.
• Analyze non-compliance or delayed compliance with APFS and AEFS submission and public disclosure requirements, as well as quality, common issues and deficiencies in APFS and AEFS and summarizes these and expected actions in a regular report to Project Administration Unit Head.
• Diligently follow up with project teams and EAs to achieve compliance with ADB FM requirements in close coordination and consultation with CWOD-PSG FM unit, CWRD Sector Divisions (SDs) and Public Financial Management Division (PFFM).
• Monitor regularly the follow-up actions identified from APFS and AEFS review or other related actions and develops and maintains an appropriate monitoring database of project financial statements and verifies project related information to assist APFS and AEFS review.
• Prepare and implement a capacity development plan for EAs/IAs to improve their understanding of ADB financial management requirements; conduct FM training and coaching programs for EAs/IAs.
• Support and advise PFFM to build the capacity of audit firms engaged by ADB projects for audit purposes.
• Provide technical support to project teams on financial due diligence work by supporting the conduct of a financial management assessment of the EAs/IAs, including 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; assessing capacity for planning and budgeting, management and financial accounting, reporting, auditing, internal controls, and information systems; reviewing proposed disbursement and funds-flow arrangements; and concluding on the financial management risk rating and identifying and confirming measures for addressing identified deficiencies.
• Assist in the preparation and agreement of cost estimates and financing based on verifiable data to support project implementation.
• Provide support to the conduct of financial evaluations (financial cost-benefit analyses) including sensitivity analyses of project components that have a full cost-recovery objective.
• Assist in the development of risk mitigation measures to be incorporated in financial covenants where significant risks are identified to project financial sustainability or viability; and assessment and agreement from EAS/IAs on financial reporting, auditing and public disclosure arrangements for the project.
• Facilitate and participate in project preparation and/or review missions to help resolve problems related to project financial management, as needed.
• Input and update project data and records in ADB information systems and databases.
• Monitor the projects’ compliance with financial covenants in the legal agreements and coordinate with project teams to follow up on achieving compliance.
• Perform other tasks as assigned and reflected in the incumbent’s workplan.
Relevant Experience & Requirements
• Bachelor’s degree in Accounting, finance, or a related field, preferably with advanced training.
• Professional accountant qualification (CPA, CA, ACCA or equivalent) with an internationally recognized designation by the International Federation of Accountants is mandatory.
• At least 6 years of relevant professional experience, including in audit and financial due diligence.
• Advanced and broad knowledge of all aspects of FM, including: (i) International Financial Reporting Standards and International Standards on Auditing; (ii) experience with internal control systems and procedures (particularly the PPFD framework); (iii) extensive 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;
• Effective report-writing and strong oral and written communication skills in English.
• Good analytical and conceptual skills; strong planning, organizational and administrative skills.
• Able to liaise and work effectively with government officials.
• Able to guide administrative staff to facilitate work planning, delivery and quality review.
• Proficiency in MS Word, MS Excel, MS PowerPoint; familiarity with database management tools.
• Able to work collaboratively with teams as a constructive team member.
• Please refer to the link for ADB Competency Framework for National Staff Levels 1
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.