Principal Financial Management Operations Officer at The African Development Bank

THE POSITION:

The key responsibilities of the Principal Financial Management Operations Officer are:

• Ensuring quality and timely FM advice and providing support to projects activities, including: (i) quality of Financial Management (FM) activities in the region; (ii) timeliness of responses on all FM issues; and (iii) quality of advice to both Bank sector and Borrowers staff in countries covered by East Africa Regional Department;
• Executing the operations fiduciary function for the Bank in projects and programs that it finances , including through: (i) conducting country, sector and project level FM assessments and related capacity development action plans; (ii) providing FM-related support for country dialogue; (iii) supporting development of regional professional FM networks; and (iv) participating in donors coordination meetings in their areas for promoting better coordination and effective resources mobilization; and
• Contributing to capacity development of Bank and Borrowers’ FM staff, including (i) coaching, (ii) mentoring, (iii) training and (iv) upgrading of the skills.

KEY FUNCTIONS:

Under the oversight and guidance of the Division Manager, Financial Management and the direct technical supervision of the Regional Financial Management Coordinator, the Principal Financial Management Operations Officer will:

• During the project/program preparation and appraisal cycle missions, assess the adequacy of the Borrower’s project financial management systems and their ability to manage and monitor Bank financed projects. This includes budgeting, internal control, treasury management, accounting, financial reporting and external auditing;
• Attend negotiations and ensure Financial Management issues are taken into account in the financing agreement and other associated documentations;
• Participate in project/program launching missions to assist the project/program team in developing capacity building of the Executing Agencies in the area of financial management;
• Carry out supervision work to ensure that projects financial management systems are functioning appropriately, including the periodic review of project financial reports for financial performance;
• Review audited financial statements received, monitor the Borrower’s compliance with financial covenants including audit compliance, ensure adequate communication with the Borrower and the project implementing agencies with respect to audits and advise as appropriate;
• Provide advice and support to Borrowers and the Bank Project Teams on matters affecting financial management and disbursement on capacity building in projects and with public sector accountability institutions;
• Assess the selection and recruitment of external independent auditors, ensuring their suitability including their independence, and competence to perform;
• Play an active role in Public Financial Management diagnostic work and reforms action plans;
• Play an active role in Country Portfolio Performance Reviews (CPPRs) /Country Strategy Paper (CSPs) from the financial management perspective and draft the FM sections of the CPPR/CSP report;
• Undertake Financial Management Capacity building in Regional Member Countries and sector departments in the Bank;
• Play an active role in departmental or institutional task forces on developing and implementing changes to financial management policies and practices, fiduciary safeguards and the efficiency and effectiveness of business processes;
• Participate in donor coordination meetings and in country dialogue platforms between the country and the donors on the basis of the overall Bank’s strategy to support aid effectiveness;
• Participate in fiduciary clinics; and
• Undertake other activities, as appropriate, as requested by the Manager, Financial Management.

COMPETENCIES (skills, experience and knowledge):

• Hold a Master’s degree in accounting, finance, business administration, economics or a related discipline and a professional accounting certification (CPA, CA, ACCA, Expert Comptable);
• Have a minimum of five (6) years of relevant experience, with particular expertise in designing and supporting financial management operations of which at least three (3) in international financial Institutions;
• Experience in supporting financial management private sector operations would be an added advantage;
• An understanding of cross-cutting issues beyond financial management (e.g. procurement, governance, donors’ practices) at sector/country level;
• Expert knowledge of International Financial Reporting Standards (IFRSs), International Public Sector Accounting Standards (IPSASs), International Standards on Auditing (ISA), and International Standards of Supreme Audit Institutions (ISSAIs);
• Proven ability to implement country or sector level financial management analytical and capacity building initiatives;
• Strong planning, organization, and time management skills;
• Excellent analytical skills;
• Ability to be flexible, open-minded with integrity, client and results oriented for achieving both Bank’s and Borrowers’ objectives;
• Ability to work as part of a team, maintain effective and cooperative relations with sector specialists, national authorities as well as donors, and handle sensitive issues with discretion in a multicultural environment;
• Ability to communicate effectively (written and oral) in English or French with a working knowledge of the other language; and
• Competence with standard MS Office software (Word, Excel, PowerPoint), preferably combined with knowledge and experience of SAP operation