fbpx Associate Financial Control Officer | Asian Development Bank

Associate Financial Control Officer

IMPORTANT INFORMATION:

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.

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.

To view ADB Organizational Chart, please click here.

Job Purpose

The Associate Financial Control Officer will coordinate and support the overall fund management, administrative, and processing activities relating to trust funds; establish and maintain sound accounting/internal controls records; prepare financial and other reports; ensure the work objectives are accomplished timely and effectively. The incumbent will report to designated International Staff and senior National staff.

Responsibilities

  • Reviews and analyzes financial data, transactions and reports for accuracy, consistency and compliance with policies and established procedures; prepares and oversees the preparation of financial statements and other reports in accordance with US generally accepted accounting principles; performs various financial analysis to monitor and report on the financial position of the ADB's resources. Assists in preparing of reports and status updates to Management and the Audit Committee of the Board. Assists in reviewing ADB documents (board papers, concept paper, memorandums, etc.) and provides inputs related to accounting implications
  • Participates in the implementation and enhancement of IT systems used for accounting and financial reporting; reviews and provides suggestions for enhancements in systems and processes for effective and efficient operations; ensures the accuracy and reliability of systems processes; coordinates changes and revisions to existing systems with the Office of Information Technology Department (ITD) and maintains/updates process manuals.
  • Establishes and maintains appropriate and adequate internal controls and procedures in preparing financial reports and analysis; recommends changes and improvements to ensure accurate, complete and timely accounting in compliance with applicable accounting policies and guidelines; monitors account balances to ensure appropriate accounting treatments are applied and respective statements/reports are received and reconciled timely and regularly; prepares and verifies reconciliation reports of accounts; undertakes investigation of discrepancies for review by supervising staff; compiles, analyzes and reviews financial and accounting data as a basis for the preparation of reports; ensures the accuracy, consistency and propriety of supporting documentation for accounting transactions in compliance with accounting practices, established procedures and guidelines; assists in performing compliance testing of processes as part of ADB's effort in providing a Management Assertion over the adequacy of internal control over financial reporting.
  • Contributes in reviewing, monitoring and developing accounting policies and positions in response to new developments in ADB and accounting standards.
  • Performs administrative functions, such as, allocating work to maximize the efficiency and productivity of the work area, and evaluating budgetary requirements; participates in procedural and organizational review; assists in the formulating the goals and objectives and related plans and programs.
  • Organizes and extends guidance to the work of assigned staff by allocating duties, setting up target dates, and providing adequate technical and procedural guidelines to other Administrative Staff in order to ensure the work objectives are met timely, effectively and efficiently.
  • Coordinates effectively with internal and external clients, and provides required information in accordance with established procedures, in a tactful manner.
  • Performs any other assignments as required, including the preparation of draft memorandum and external correspondences for supervisor's review. Coordinates and provides required information based on established procedures in a tactful manner.

Qualifications

Relevant Experience & Requirements

  • Bachelor's degree in business administration, major in Accounting or Finance; Certified Public Accountant, preferably with advanced training.
  • At least 6 years' experience in accounting, preferably in a computerized environment with some supervisory role, in a large organization; Good understanding of multilateral institutions products: loans, treasury investments, borrowings, equity investments, and guarantees.
  • Proficient understanding of accounting policies, practices and general policies, procedures, guidelines and reporting requirements prevalent in a multilateral institution.
  • Solid understanding of the US GAAP and/or international financial reporting standards.
  • In-depth understanding of the interactions between a multilateral institution's different work areas and workflows and their purpose, as well as business knowledge of relevant areas to enable accounting concepts to be applied appropriately.
  • Proficient in standard software used in multilateral institutions, particularly, MS Excel and MS Word, and in-depth knowledge of a large Accounting system (e.g. Oracle ERP) and its interfaces with other systems and work areas.
  • Good understanding of the concept of internal controls and their application.
  • Analytical and systematic with strong numerical skills and attention to detail.
  • Ability to plan and coordinate schedules in order to meet deadlines.
  • Proven supervisory and interpersonal skills with ability to provide feedback to subordinates and guide them to facilitate work planning, delivery and quality review.
  • Able to work collaboratively with teams as a constructive team member.
  • Excellent oral and written communication skills in English.
  • Please refer to the link for ADB Competency Framework for National Staff Levels 1-2.

General Considerations

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.