Accounting (Financial Control Specialist)

Job Purpose:

Lead and supervise any of the following: (a) financial accounting activities of ADB and its Field Offices, trust fund management, transactions for payments through accounts payable, as well as the management of fixed asset register; (b) administration and accounting of payroll, pension and staff accounts; (c) overall data processing and management, financial reporting and system administration activities to facilitate and support loan, grant and technical assistance (TA) disbursement operation, portfolio monitoring and loan accounting operations; (d) maintenance of accounting records, preparation of periodical financial statements, reports and related financial information in accordance with generally accepted accounting principles (GAAP); or (e) implementation of an internal control compliance review program and new or revised accounting standards. Work within general policies, principles and goals, working directly with clients.

Expected Outcomes

1. Financial Accounting

• Provide oversight of financial and accounting activities, ensuring good internal control and sound accounting practice are adhered.
• Provide oversight of Special Funds and trust funds under the administration of ADB in discharging its fiduciary responsibilities by ensuring the funds are used for the intended purpose in compliance with the trust fund agreements and ADB relevant policies, and that the related assets are properly safeguarded.
• Supervise and provide oversight of accounts payable and staff consultants including the administration of contracts, ensuring all expenses, and the accounting thereof, are in accordance with ADB policies and generally accepted accounting principles, and that invoices and claims are supported by adequate and appropriate supporting documents.
• Manage and administer payroll, pension, staff loans, staff accounts, staff benefit payment processes, ensuring payments are timely, accurate, properly supported and compliant with policies and procedures using Oracle Enterprise Resource Planning (ERP).

2. Accounting Policy

• Lead, develop and establish related accounting policies, guidance and interpretations, detailed implementation plans identifying the required resources, milestones and deliverables, comprehensive impact analyses, and system and control implications.
• Lead and promote awareness on accounting policies, and make representations to key stakeholders (including Management and the Audit Committee of the Board of Directors) on the implications of changes in financial reporting standards on ADB’s financial statements.
• Lead in compiling/updating the ADB’s accounting policies and manual, and disseminate the policies to other concerned departments/offices in ADB.

3. Integrated Internal Control

• Lead the implementation of an internationally recognized integrated internal control framework with the objectives of providing a management assertion on the adequacy of internal controls over external financial reporting and provides a basis for an external auditor’s attestation accordingly.
• Provide necessary guidance and supervision to staff concerning internal controls in ensuring that financial and other transactions adhere to good internal control as part of the required oversight functions.
• Review and take the lead in recommending changes to systems, policies and procedures to promote accuracy of information and increase efficiency while maintaining appropriate internal controls.

4. Financial Information Systems Data Management and Reporting

• Supervise the data processing and data management of loan, grant and TA projects to ensure financial information and disbursement transactions are properly maintained in the IT systems.
• Evaluate existing systems, identify the need for new systems or modifications to existing systems, identify system issues, and resolve issues identified, in coordination with the Office of Information Systems and Technology (OIST).

5. Knowledge Sharing

• Lead in undertaking review, and provide analysis and comments to enhancement in relevant ADB policies and procedures.
• Lead in promoting awareness of internal control concepts by arranging relevant training courses for various target audiences in coordination with the Human Resources Division (BPHR), and providing presentations to key stakeholders on the importance and implications of internal controls.
• Lead in providing guidance and training to staff to ensure familiarity and to improve their technical capabilities in the proper implementation of the internal control compliance review program.

6. Staff Supervision

• Take the role of team leader and supervise the work of team members.
• Supervise the performance of reporting staff, providing clear direction and regular monitoring and feedback on performance.
• Ensure the on-going learning and development of reporting staff.

Educational Requirements:

• Master’s degree or equivalent in Finance, Business Administration or Information Technology. University degree in Finance, Business Administration or Information Technology combined with specialized experience with internationally recognized professional qualifications such as Certified Public Accountant (CPA)/Certified Financial Analyst (CFA) or its equivalent in similar organization/s, may be considered in lieu of a Master’s degree.

Relevant Experience And Other Requirements:

• Suitability to undertake the responsibilities mentioned above at the required level
• At least 10 years of highly relevant professional experience in public accounting firms or financial institutions in the area of accounting policy, financial reporting and auditing
• Good knowledge in computerized accounting and financial information system
• Strong and demonstrated experience in handling technical accounting and financial reporting issues, particularly relating to complex capital market transactions, private equity investments and lending
• Experience in the implementation or application of US Generally Accepted Accounting Principles or International Financial Reporting Standards, especially in a reputable financial institution
• Experience in the review of exposure drafts and the drafting of comment letters/responses to such proposed standards
• Familiarity with recognized financial management and treasury management systems
• Strong team leadership, negotiation, and interpersonal skills
• Very strong analytical skills and ability to prepare, present and discuss highly technical issues in a manner understandable to non-technical people
• Excellent oral and written communication skills in English
• International experience working in several countries

Core Competencies:

Application of Technical Knowledge and Skills

• Provides supervision to others in completing their technical tasks
• Called upon for advice and guidance based on expertise gained by working in different countries and organizations
• Contributes advanced knowledge and expertise to different parts of the Department

Client Orientation

• Proposes effective services and solutions to staff beyond presenting issues and past challenges
• Assists colleagues adapt to the cultural and business norms of diverse clients and country situations
• Gains respect for the breadth and depth of expertise demonstrated in effectively managing diverse clients and country situations
• Called upon to resolve client situations that may impact their long-term ADB relationship

Achieving Results and Problem Solving

• Resolves situations where client needs are not being met
• Shares past experiences from different projects, organizations, and countries to help achieve quality results
• Ensures that thorough analysis includes current and relevant factors from different countries and contexts
• Sought out for guidance and experience in overcoming the most challenging situations
• Draws on long-term relationships with stakeholders to help plan for and achieve results

Working Together

• Addresses team members not contributing to required standards
• Commits to delivering timely and high quality work to assist in the team’s success
• Develops and maintains good internal and external peer and senior level relationships
• Helps teams understand common features to build rapport and overcome challenges

Communication and Knowledge Sharing

• Provides stakeholders with the level and quality of information required to achieve outcomes
• Encourages others to seek long-term solutions to address feedback opposed to focusing on immediate concerns or reactions
• Uses breath of multi-country and multi-client knowledge to equip clients and staff for more effective outcomes
• Designs and implements project and program knowledge and services

Innovation and Change

• Consistently seeks more effective and practical ways for the Departmental delivery of services, products, and processes
• Proposes new ways to improve the quality and relevance of products and services
• Includes the core benefits and reasons for change when developing comprehensive change roll out plans
• Influences and persuades decision makers by presenting business cases supporting the proposed changes

Immediate Reporting Relationships / Other Information:

• Supervisor: Assistant Controller (Director)
• The following staff positions report to the Financial Control Specialist:
  • Administrative Staff
  • National Staff
• Women are encouraged to apply.