Senior Financial Control Officer

Job Vacancy | Monday, February 22, 2021

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.

The position is assigned in the Accounting Division within the Controller’s Department. The Accounting Division prepares financial reports; maintains the accounting policy, Management assertion and external auditor’s attestation over internal controls for financial reporting; administers the financial management accounting system for Resident Missions; builds the financial management capacity of the developing member countries through loan accounting seminars and reviews of resident missions; maintains loan accounting and assures loan services.

ADB only hires nationals of its 68 members.

To view ADB Organizational Chart, please click here.

Job Purpose

The Senior Financial Control Officer will (i) direct, control, prepare and perform accounting, reporting and administrative functions for a wide range of products, including non-sovereign loans, equity investments, debt securities, political risk/ credit guarantees, complementary loans and risk transfers; (ii) establish and maintain sound internal controls for financial reporting and records; (iii) oversee preparation of billings, notifications, collections, financial statements and other reports; and (iv) ensure that the work area objectives are always accomplished timely and effectively. The incumbent will report to the designated international staff and will supervise administrative staff.

Responsibilities

• Establishes and ensures adequate internal controls in maintaining accurate accounts for loans, equity investments, debt securities, and guarantee products, and ensures that disbursements, billings, notifications, and reports are produced in accurate and timely manner. Plans and develops appropriate procedures for processing transactions and preparing reports for each product; recommends changes and improvements as required to ensure correct, complete and timely accounting in compliance with applicable agreements, policies, practices, and generally accepted accounting principles.

• Monitors all accounts subject to reconciliation, ensuring all statements/reports are received and reconciled; prepares and verifies, as appropriate, reconciliation reports for review by supervising staff including analysis of reconciling items; compiles, analyzes and reviews financial and accounting data as a basis for the preparation of reports; critically reviews the accuracy, consistency and propriety of supporting documentation for all accounting transactions in compliance with accounting practices, established procedures and guidelines.

• Reviews and analyzes data, transactions and reports for accuracy, consistency and compliance with policies and established procedures; prepares financial statements, accounting and other reports as required; supervises preparation and consolidation of accounting and other reports, as necessary; reviews draft and compiles all relevant schedules and statistics; ensures financial reports are in accordance with generally accepted accounting principles.

• Reviews, analyzes and identifies system requirements for effective and efficient operation; monitors accuracy and reliability of systems; proposes necessary enhancements and changes to the systems and interfaces in order to satisfy requirements of various products.

• Participates in study and implementation of new accounting standards and principles introduced by authoritative Accounting Bodies, and any relevant changes introduced by ADB that may have an impact on accounting for nonsovereign products. Provides write-ups and information for inclusion in ADB’s Annual Report, financial statements and other papers, on subjects relating to nonsovereign operations. Participates in study of establishing accounting and administrative procedures for new products to be introduced by ADB. Assist IS in reviewing Report and Recommendation to the President (RRPs) and financing agreements for new transactions, ensuring that accounting and administration related issues are addressed.

• Coordinates effectively with internal and external clients, and provides required information in accordance with established procedures, in a tactful manner.

• Plans, organizes, supervises, and reviews work of subordinate staff in controlling, processing and recording data; prepares billings/notification/reports and completes work timely and in conformity with policies, practices and procedures. Provides technical and procedural guidelines to subordinate staff.

• Performs activities in support of ADB’s Organizational Resilience

• Performs any other assignments as required by the supervisors in meeting the work program for the division.

Qualifications

Relevant Experience & Requirements

• Bachelor’s degree in accounting, business administration, commerce or finance with Certified Public Accountant (CPA) designation; preferably with advanced training.
• At least 8 years of relevant work experience; and at least 4 years of supervisory experience.
• Proficient understanding of accounting and administrative practices for various types of non-sovereign loans, guarantees, debt securities, equity investments, and relevant policies, procedures, guidelines and reporting requirements of multilateral organizations.
• In-depth knowledge of workflows among various internal and external stakeholders in administering non-sovereign products.
• Proficient with computer software used for non-sovereign products.
• In-depth knowledge of ADB’s accounting system and its interfaces with other ADB systems upstream and downstream.
• Analytical, systematic, with strong numerical ability and attention to details.
• Proficient understanding of general accounting concepts and principles, and the application thereof.
• Ability to plan and coordinate schedules in order to meet deadlines.
• Proven supervisory and interpersonal skills with ability to provide feedback to subordinates.
• Excellent oral and written skills in English.
• Please refer to the link for ADB Competency Framework for National Staff Level 3-4.

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.