Financial Management Specialists/Senior Financial Management Specialists
Job Vacancy | Monday, July 5, 2021
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.
Multiple positions at various levels may be filled from this vacancy notice.
Actual position title, level and salary will be based on the candidate's qualifications, experience and job scope that will be assigned to the selected candidates.
Location - Initial appointment to ADB Headquarters, Manila, Philippines. Some positions may be outposted in a Field Office.
Fixed-Term appointment - initial staff appointments to ADB under a standard fixed term appointment are for three (3) years which may be extended or converted to a regular employment given satisfactory performance and the continued need for the particular skill.
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 positions will be assigned to various operational or other departments in ADB.
To view ADB Organizational Chart, please click here.
The Financial Management Specialist / Senior Financial Management Specialist will support or take the lead in providing technical guidance and advice, knowledge sharing and capacity building to support department’s project financial management and financial due diligence (FDD) function to ensure high standards for the ADB’s overall financial management performance.
The incumbent will report to the designated Director and may supervise one or more National and Administrative Staff.
• Provides technical guidance, information, analysis and advice on financial management and FDD issues in department’s operational activities in line with relevant ADB policies, guidelines and instructions;
• Supports/Leads the continuous development and implementation of department’s internal guidelines and procedures (consistent with ADB’s guidelines) for review of Audited Project Financial Statements and Audited Entity Financial Statements (APFS/AEFS), monitoring and quality improvement;
• Advises and supports Resident Missions (RMs) in the development of strategies for financial management in the relevant Developing Member Countries (DMCs);
• Provides technical guidance and support to project teams on financial due diligence work by:
(i) Supporting/leading the conduct of financial management assessments of executing and implementing agencies, including: (a) 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; (b) assessing capacity for planning and budgeting, management and financial accounting, reporting, auditing, internal controls, and information systems; (c) reviewing proposed disbursement and funds-flow arrangements; and (d) concluding on the financial management risk rating and identifying and confirming measures for addressing identified deficiencies;
(ii) supporting the preparation and agreement of cost estimates and a financing plan, which are based on verifiable data and are sufficient to support project implementation;
(iii) supporting/leading the preparation of financial projections and conducting financial analyses of the executing and implementing agencies, and incremental recurrent costs, to determine financial sustainability, and reviewing proposed cost-recovery and tariff policies, including affordability;
(iv) supporting/leading the conduct of financial evaluations (financial cost-benefit analyses) including sensitivity analyses of project components that have a cost-recovery objective to assess project financial viability;
(v) proposing mitigation measures to be incorporated in financial covenants when significant risks are identified to project or entity financial sustainability or viability; and
(vi) 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 executing and/or implementing agencies.
• Supports project teams to respond to financial management issues during management and staff review meetings;
• Participates in project preparation and/or review missions responsible for financial issues in the processing and implementation of projects, and help resolve problems, as needed;
• Supervises the review of APFS/AEFS for department projects following the internal review process; provides comments and guidance to project teams on quality issues in APFS/AEFS and project implementation matters disclosed in the reports;
• Ensures compliance with ADB’s financial management and audit requirements by reviewing, validating, monitoring and evaluating project teams’ implementation status of audit recommendations;
• Ensures quality control of departmental inputs on financial management and in the review of various operational and non-operational documents, and of project documents in relation to financial management;
• Ensures quality control of departmental reports, briefings and presentations on APFS, AEFS and other financial management related matters;
• Assesses, designs and/or implements stand-alone and technical assistance related financial management capacity building programs for clients and financial management focal;
• Undertakes knowledge sharing activities and regular communications with counterparts within and outside ADB to keep abreast with the latest developments in international and national financial management and analysis practices;
• Takes the role of mission leader and supervises the work of mission members and consultants; and
• Supervises the performance of reporting staff and ensure ongoing learning and development.
Relevant Experience & Requirements
• University degree in Business, Finance, Commerce or related fields, preferably at post- graduate level or its equivalent;
• Professional qualification in accounting (e.g. CPA, CA, ACCA) from an internationally recognized institution (e.g., IFAC) is mandatory. A CFA qualification is an advantage;
• At least 6 years of relevant professional experience in private sector or public sector financial management (i.e., accounting, budgeting, auditing), or related area;
• International experience working in several countries, particularly ADB’s DMCs;
• Credible expert in field of expertise with recognized ability to lead projects and to share relevant knowledge to benefit the broader ADB community;
• Excellent oral and written communication skills in English; and
• Able to mentor team members, providing guidance and advice on delivery of services.
• For other competencies, relevant to the position, please refer to the link for ADB Competency Framework for International Staff Level 3/4 and Level 5.
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.