fbpx Financial Management Officer | Asian Development Bank

Financial Management Officer

IMPORTANT INFORMATION

Close relatives (spouse, children, mother, father, brother and sister, niece, nephew, aunt and uncle) 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 affinity/marriage presently employed in ADB.

This is a re-advertisement. Previous applicants need not apply. Applications received in response to previous posting will be considered together with applications received in response to this advertisement.

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 Pakistan Resident Mission (PRM) 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. PRM works closely with government agencies, development partners, private sector partners, and other stakeholders to facilitate the successful formulation, processing, administration and monitoring of ADB-financed loan and technical assistance (TA) projects.

To view ADB Organizational Chart, please click here.

Job Purpose

The Financial Management Officer will provide advice and support to the financial management (FM) function for Pakistan’s project portfolio by working closely with the CWRD’s FM focal points based in ADB Headquarters, project officers and analysts for ADB-funded projects in Pakistan; and support project teams working on ADB’s project portfolio in Pakistan to ensure compliance related to audited project financial statements (APFSs) and entity financial statements (AEFSs) for Pakistan projects. The position will also provide support in implementing ADB FM policies and strategies in Pakistan and other selected CWRD DMCs as needed. The incumbent will report to PRM designated International staff and Senior National Officer.

Responsibilities

(i) Lead: (a) Review of audited project financial statements and audited entity financial statements for all PRM projects following the internal review process and exercise professional judgment; (b) FM 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 (c) preparation of checklists in accordance with ADB’s internal guidelines and procedures for APFS review, monitoring and quality improvement.
(ii) 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 summarize these and expected actions in a regular report to PAU Head.
(iii) 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 develop and maintain an appropriate monitoring database of project financial statements and verify project related information to assist APFS and AEFS review.
(iv) 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.
(v) Support CWOD-PSG and PFFM to build the capacity of audit firms engaged by ADB projects for audit purposes.
(vi) Provide technical support to project teams on financial due diligence work by supporting the:
a. Conduct of a financial management assessment of the EAs/IAs, including: (i) 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; (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;
b. 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 EAs/IAs.
(vii) 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.
(viii) Monitor the PRM projects’ compliance with financial covenants in the legal agreements and coordinate with project teams to follow up on achieving compliance. Support loan processing missions in conducting financial analysis of revenue-earning and/or nonrevenue-earning projects and financial management assessment of the executing agency and/or implementing agency, in line with relevant ADB policies, guidelines and instructions (e.g. Financial Management and Analysis of Projects, Operations Manual, Project Administration Instructions and Loan Disbursement Handbook); Contribute to the development, review, and updates of relevant sections of the reports and recommendations of the President (RRPs), periodic financing requests (PFRs), project and program administration manuals (PAMs), and the Legal agreements, and provide quality control on project financial analysis and financial management arrangements (including cost estimates, financial plans, disbursement arrangements, financial evaluation, audit arrangements and financial management capacity, risk mitigation and action plans.
(ix) Participate in project preparation and review missions to help resolve problems related to project financial analysis and financial management issues. Articulate governance and FM policies and strategies of Pakistan, support ADB in strengthening country systems related to financial management, audit, taxation, and other finance-related areas, and update PRM management and staff regularly on any changes that may affect project implementation and performance.
(x) Serve as the focal point in PRM in providing policy advice in the development of policies, and facilitate project teams in understanding FM aspects within the governments; providing analyses and inputs to project teams on FM and its related analysis issues. Provide technical inputs to public finance management (PFM) assessment during country partnership strategy preparation, and support designing PFM improvement programs at country and local levels to address PFM issues.
(xi) Perform other tasks as assigned and reflected in the incumbent’s workplan.

Qualifications

Relevant Experience and Requirements

  • Bachelor's degree in Accounting, finance, or a related field; preferably with Master's degree or equivalent.
  • Professional accountant qualification (CPA, CA, ACCA or equivalent) with public accountancy and audit experience (i.e. an internationally recognized designation by the International Federation of Accountants) would be preferred;
  • At least 8 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; (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;
  • Proven 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;
  • Able to liaise and work effectively with government officials;
  • Able 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; and
  • Able to work collaboratively with teams as a constructive team member.

Please refer to the link for ADB Competency Framework for National Staff Levels 2

General Consideration

The selected candidate 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.

This vacancy is a local staff position. It is open only to Pakistan nationals and residents.

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.