Senior Financial Control Officer

Organizational Setting and Reporting Relationship

The position of Senior Financial Control Officer is assigned in the Accounting Division (CTAC) within the Controller’s Department. CTAC prepares financial reports; maintains the accounting policy, management assertion and external auditor’s attestation over internal controls for financial reporting; builds the financial management capacity of the developing member countries (DMCs) through disbursement seminars and fora; maintains loan and treasury accounting and assures loan services.

You will be based at our Headquarters in Manila, Philippines and will report to the designated International Staff and oversee administrative staff.

Your Role

• As a Senior Financial Control Officer, you will direct, control, coordinate and perform activities for administrative matters. The Officer also establishes, maintains and oversees the updating of accurate and complete accounting records and sound accounting/internal controls related to investments, borrowings, derivatives and foreign exchange transactions, and analyzes fair valuation of complex treasury products.

You will:

• Oversee the review and analysis of data, transactions and reports for accuracy, consistency and compliance with policies or established practices; oversee preparation of schedules for financial, management and other reports; review and oversee the preparation and analysis of the Bank’s periodic accounting reports related to investments, borrowings, derivatives and foreign exchange transactions; ensure the fairness and correctness of accounting reports in compliance with the Generally Accepted Accounting Principles of the United States (US GAAP) or other applicable standards.
• Carry out analytical work, i.e. valuation and analyses of fixed income investment and/or borrowings, and other types of financial instruments; plan and develop appropriate, adequate internal controls in the preparation of accounting data, processing of transactions and in the preparation of financial reports.
• Conceptualize, develop, implement and enhance accounting and financial internal controls to ensure the completeness, validity and accuracy of accounting data and transactions for preparing related financial reports; take appropriate action to ensure uniform, consistent and timely recording and reporting of transactions in compliance with applicable policies and generally accepted accounting principles or other applicable standards; monitor all accounts subject to reconciliation, ensuring all accounts are reconciled on a timely basis.
• Contribute in the implementation of new systems or enhancements of existing systems; review, identify and provide suggestions for enhancements in systems and processes for effective and efficient operations; ensure the accuracy and reliability of systems processes; coordinate changes and revisions to existing systems with Information Technology Department and Treasury Department through the Specialist in charge; maintain/update business process documentation; recommend changes and improvements to ensure correct, complete and timely accounting in compliance with applicable policies and generally accepted accounting principles.
• Participate in the study and implementation of new accounting standards and principles introduced by authoritative Accounting Bodies that may have an impact on accounting for investments, borrowings and derivatives instruments.
• Contribute to assessing risks on the adequacy of internal control over financial reporting in the work area; contribute to carrying out compliance testing of processes as and when needed as part of ADB’s effort in providing a Management Assertion over the adequacy of internal control over financial reporting.
• Oversee junior staff, including allocating work to maximize the efficiency and productivity of the work area; evaluate the performance of team members; provide appropriate instructions, resolving conflicts; and provide guidance to ensure the work objectives are met timely, orderly, effectively and efficiently.
• Contribute to procedural and organizational review and make recommendations and in the formulation of the Section’s goals and objectives and the related plans and programs.
• Coordinate and provide information following established procedures, in a tactful manner.
• Perform other duties that may be assigned and reflected in your workplan.

Qualifications

You will need:

• Bachelor’s degree in Business Administration, major in Accounting/Finance preferably with Master’s degree in Business Administration or Finance or CFA/FRM qualification; with Certified Public Accountant (CPA) qualification.
• At least 8 years relevant experience in accounting with at least 4 years of supervisory experience, preferably in a computerized environment in a large organization; with experience in the accounting and analysis of fixed income securities and derivative instruments.
• Proficiency in computer software commonly used at the Bank and other similar multilateral development banks, including its interfaces with other Bank systems and work areas, particularly MS Excel and Word, and large accounting software (e.g. Oracle ERP, SUMMIT).
• Ability to quickly understand Bank accounting policies, practices and systems and Bank wide policies, procedures, guidelines and reporting requirements.
• Excellent understanding of general accounting concepts and principles (US GAAP) related to fixed income securities, derivative products, investments, and the application thereof. Knowledge of International Financial Reporting Standards would be desirable.
• Ability to quickly understand the interaction between different business units, relevant workflows and their purpose, and business knowledge of relevant areas for appropriate application of accounting concepts.
• Good understanding of the concept of internal controls and their application.
• Analytical and systematic with strong numerical skills and attention to detail. strong mathematics background an advantage
• Ability to plan and coordinate schedules to meet deadlines.
• Proven supervisory and interpersonal skills with an ability to provide feedback to team members.
• Effective report-writing and strong oral and written communication skills
• Please refer to the link for ADB Competency Framework for National Staff Levels 3.

Source: https://www.adb.org/careers/240786