Financial Management Specialist – IS 3/4

Join Our Mission to Foster Prosperity in Asia

Are you ready to make a lasting impact on the future of Asia and be a catalyst for positive change? We are thrilled to offer a unique opportunity to become an important part of the prestigious Asian Development Bank (ADB). At ADB, our mission is simple yet powerful: to alleviate poverty and promote sustainable development in the Asia-Pacific region.

 

 

Organizational Setting and Reporting Relationship

The position of Financial Management Specialist is assigned to the Public Financial Management Division (PFFM) within the Procurement, Portfolio, and Financial Management Department (PPFD). You will be based at our Headquarters in Manila, Philippines.

 

You will report to the Director, PFFM and will oversee National and Administrative Staff.

 

Your Role
As a Financial Management Specialist you will: (a) support the implementation of corporate FM initiatives, development and revision of FM policy and guidance materials; (b) provide operational services in conducting financial due diligence of projects during processing and supervision during implementation, including quality assurance following a risk-based approach; (c) lead and/or support country FM assessments and FM systems strengthening initiatives; (d) coordinate the development and delivery of knowledge sharing and capacity building support to ADB and government staff; and (e) perform other tasks that may be assigned by the supervisor.

 

You Will:

Corporate FM initiatives

• Contribute to the development and update of corporate FM policy and guidance materials, including operations’ manuals, staff instructions, project administration instructions, technical guidance notes, and other ad hoc guidance on fiduciary matters and strategies.
• Review and updates other ADB policies to ensure consistency from a financial management perspective.
• Contribute to the development, and monitors the implementation of, the FM functional results-based work plan.
• Ensure quality control of financial management inputs in the various operational and non-operational documents in relation to financial management.

 

Operational support for processing and implementation

• Function as a OneADB team member of sovereign operations’ project teams on financial due diligence work by supporting / leading the:
  • Financial management assessments of executing and implementing agencies;
  • Preparation and agreement of cost estimates and a financing plan;
  • Preparation of financial projections and conducting financial analyses of the executing and implementing agencies;
  • 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;
  • Development of mitigation measures to be incorporated as covenants in legal agreements to strengthen institutional governance and enhance project or entity financial sustainability or viability; and
  • Development of arrangements for financial reporting, auditing, and public disclosure.
• Ensure satisfactory resolution of all financial management issues within the One ADB team and escalates any remaining issues for resolution.
• Perform quality assurance reviews following a risk-based approach of financial management sections of project documentation and ensures adherence to ADB’s financial management requirements.
• Support the continuous development and implementation of financial management guidelines and procedures for review of audited project financial statements and audited entity financial statements (APFS/AEFS), monitoring and quality improvement.
• Perform/supervise the review of APFS/AEFS for sovereign projects.
• Reviews, validates, monitors, and evaluates implementation status of audit recommendations.
• Ensure quality control of sovereign operations’ reports, briefings and presentations on APFS, AEFS and other financial management related matters.
• Supervise the work of consultants.

 

Country level financial management issues

• Support the implementation of public financial management diagnostic studies such as the public expenditure and financial accountability, governance assessments, and the development and implementation of technical assistance projects for strengthening public financial management.
• Participate in portfolio review missions and leads / supports dialogue with the government and executing and implementing agencies to address financial issues arising during implementation and help resolve problems.
• Support dialogue with government officials on strengthening financial governance at the national, subnational, and sector levels and contributes to the development of country-led FM policy and reforms.

 

Knowledge sharing and capacity building

• Assess, design and/or implement stand-alone and technical assistance related financial management capacity building programs for ADB staff and the staff of executing and implementing agencies.
• Undertake 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.
  

 

Other tasks

• Represent ADB on international platforms with other multilateral development banks and institutions engaged in audit, financial reporting, and governance.
• Supervise the performance of reporting staff.
• Ensure ongoing learning and development.
• Any other tasks that may be assigned by the supervisor and/or incorporated in the workplan.
  

Qualifications

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) 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.
• Able to mentor team members, providing guidance and advice on delivery of services.
• Please refer to the link for ADB Competency Framework for International Staff Level 3-4.

 

Additional Information

This position has been created as part of the Workforce Rebalancing Framework, which is a multiyear initiative (2022-2027) aimed at increasing in-house expertise in key operational areas that was previously sourced from consultants through ADB’s technical assistance. The goal is to strengthen in-house expertise to enhance the quality of ADB’s policy dialogue, operations, and knowledge solutions delivery by collaborating closely with developing member country clients. Expected candidates are seasoned experts in the advertised area(s) with strong field experience who can lead policy dialogue and project work with emphasis on providing knowledge solutions. Staff may undertake short-term assignments in other groups, departments or offices only when the expertise in the advertised area(s) is needed by those groups, departments or offices.

 

If you are selected as an external candidate, the appointment may be extended for a period of up to 3 years per extension, or not renewed. In case of extension, staff may continue in the position for another term of up to 3 years.

 

At the end of the initial period, ADB, as its discretion may: (a) renew a fixed term appointment or assignment, (b) not renew a fixed term appointment.

 

About Us

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.

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.

Visit ADB Careers FAQ for more information.
 

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