Senior Financial Control Officer

Job Vacancy | Wednesday, June 2, 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.

ADB only hires nationals of its 68 members.

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; and maintains loan accounting and assures loan services.

To view ADB Organizational Chart, please click here.

Job Purpose

The Senior Financial Control Officer oversees the coordination, facilitation, and maintenance of sound accounting/internal controls over financial reporting; preparation of financial statements and other reports; and development and implementation of the accounting policies and procedures to ensure financial statements and accounting related analysis and reports are prepared effectively and efficiently. The incumbent will report to the designated International Staff and will supervise Administrative Staff.

Responsibilities

• Researches, monitors, and analyzes new developments in the accounting standards; develops, updates and implements ADB’s accounting policies; and disseminates information to others to ensure ADB maintains sound accounting policy and practices.
• Contributes to the preparation of the financial statements in accordance with the prescribed accounting standards; supervises junior staff in reviewing and analyzing data, transactions, and reports for accuracy, consistency, propriety and compliance with policies or established practices; and ensures the fairness and correctness of presentation in compliance with generally accepted accounting principles.

• Oversees and contributes to developing and implementing basic systems of accounting and financial control in processing accounting data and transactions and in the preparation of reports; provides guidance to junior staff to ensure accurate, consistent, and timely recording and reporting of transactions in compliance with applicable policies and practices and generally accepted accounting principles; oversees and reviews all responsible accounts for accuracy and appropriateness; analyzes and reviews financial and accounting data as a basis for the preparation of reports; and reviews and approves vouchers under specific authority.
• Provides guidance in the implementation of new systems or enhancements of existing systems; analyzes and provides solution for system and business process enhancements for effective and efficient operations; ensures the accuracy and reliability of systems processes; coordinates changes and revisions to existing systems with the Information Technology Department; and recommends and implements changes and improvements as required to ensure correct, complete, and timely accounting in compliance with applicable policies and generally accepted accounting principles, as appropriate.
• Supervises and reviews work of junior colleagues and completes work timely, and in conformity with policies, practices, and procedures; provides technical and procedural guidelines to junior colleagues related to accounting policies and practices for preparing financial statements and reports.
• Shares the latest developments in accounting standards, policies, and practices, and provide guidance on the implementation of the new standards; provides required information to help meet the needs of the clients in a tactful and efficient manner; and coordinates obtaining information required from other areas needed for developing accounting policies and preparing financial statements in a tactful, efficient, and effective manner.
• Performs any other assignments as assigned by the supervisor.

Qualifications

Relevant Experience & Requirements

• Bachelor’s degree in business administration, major in Accounting/Finance; Certified Public Accountant; preferably with Master's Degree or equivalent.
• At least 8 years’ experience in accounting preferably in a computerized environment at a large financial institution, and at least 4 years of supervisory experience is an advantage.
• Good understanding of accounting policies, practices and systems prevalent in multilateral development banks and, procedures, guidelines, and reporting requirements for financial instruments such as loans, guarantees, equity investments, borrowings, and derivatives.
• In-depth understanding of the interactions between different work areas and relevant workflows and their purpose, and business knowledge of relevant areas to enable accounting concepts to be applied appropriately.
• Proficient with IT System for financial products, accounting and financial reports, and in the use of computer databases to input and extract information, and to generate standard and ad hoc reports.
• Good understanding of the concept of internal controls and their application.
• Proven supervisory and interpersonal skills with ability to provide feedback to subordinates.
• Analytical, systematic, and with strong numerical ability and attention to details.
• Ability to plan and coordinate schedules to meet deadlines.
• Ability to liaise and work effectively with internal clients.
• Able to work collaboratively with teams as a constructive team member.
• Excellent oral and writing skills in English.
• Please refer to the link for ADB Competency Framework for National Staff levels 3-4.

General Considerations

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.

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.