Job For Principal Financial Management Operations Officer at The African Development Bank Group
African Development Bank Group (AfDB) – Established in 1964, the African Development Bank is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries).
The Bank’s development agenda is delivering the financial and technical support for transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth. In order to sharply focus the objectives of the Ten Year Strategy (2013 – 2022) and ensure greater developmental impact, five major areas (High 5s), all of which will accelerate our delivery for Africa, have been identified for scaling up, namely; energy, agro-business, industrialization, integration and improving the quality of life for the people of Africa.
We are recruiting to fill the position below:
Job Title: Principal Financial Management Operations Officer
Position N°: 50076497
- The Senior Vice-Presidency (SNVP) is responsible for supporting the President in the day-to-day management of the Bank Group to achieve its strategic objective and drive performance culture that will align all processes and systems to deliver high impact results.
- The SNVP provides effective leadership and exceptional coordination to ensure implementation and monitoring of key corporate decisions as well as the identification of necessary corrective measures and actions.
- The SNVP leads Senior Management discussions, decision-making processes and the implementation of key Board and Management decisions.
The Hiring Department
- The SNVP supervises the Fiduciary and Inspection Department (SNFI), which acts as the custodian of the procurement (including procurement for private and public partnership) and financial management (FM) profession, and has the following responsibilities for its functions:
- Developing and interpreting policy, strategy and related guidance notes and manuals;
- Preparing annual post review reports on the Bank’s FM and procurement operations for the Board;
- Developing training strategy for internal and external clients;
- And dialoguing with external and global partners with a view to building partnerships and fostering harmonization;
- Providing the secretariat for the Procurement Review Committee (PRC); and
- Inspecting and reporting on the performance of procurement and FM activities undertaken by the regions.
- The Principal Financial Management Operations Officer is responsible to ensure that financial management of Bank-financed projects are compliant with the Bank’s financial management policy. This is done by advising on financial management arrangements and reviewing financial management decisions within the project/program operations cycle from the identification to completion stages.
- The incumbent also contributes to the preparation of the Bank’s Country Strategy Paper, and to building Public Financial Management (PFM) capacity of Borrowers which includes training of Borrower staff, advising on project related financial management matters, and assessing and strengthening the Borrower’s PFM systems.
- The Principal Financial Management Operations Officer reports administratively to the Regional Operations Manager for Implementation Support and functionally to the Division Manager-Financial Management for Central, North and West Regions (SNFI.2).
The key responsibilities of the Principal Financial Management Operations Officer are:
- Ensuring quality and timely FM advice and providing support to projects activities, including:
- Quality of Financial Management (FM) activities in the region;
- Timeliness of responses on all FM issues;
- Quality of advice to both Bank sector and Borrowers staff in countries covered by the Director General;
- Executing the operations fiduciary function for the Bank in projects and programs that it finances, including through:
- Conducting country, sector and project level FM assessments and related capacity development action plans;
- Providing FM-related support for country dialogue;
- Supporting development of regional professional FM networks; and
- Participating in donors coordination meetings in their areas for promoting better coordination and effective resources mobilization;
- Contributing to capacity development of Bank and Borrowers’ FM staff, including
- Training and
- Upgrading of the skills.
Duties and Responsibilities
Under the oversight and guidance of the Division Manager, Financial Management for Central, North and West Regions, the Principal Financial Management Operations Officer will:
- 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;
- Provide financial management guidance for the development of technical assistance programs and evaluate and monitor their implementation;
- Assess the selection and recruitment of external independent auditors, ensuring their suitability including their independence, and competence to perform;
- 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;
- Provide mentoring and coaching to Junior FM staff and review the quality of their work.
- Play an active role in Public Financial Management diagnostic work and reforms action plans.
- 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;
- Take a proactive role in harmonizing financial management approaches with other donors;
- Participate in fiduciary clinics;
- Participate in donor coordination meetings within the region and in country dialogue platforms between the country and the donors on the basis of the overall Bank’s strategy to support aid effectiveness;
- Undertake other activities, as appropriate, as requested by the Manager, Financial Management for Central, North and West Regions.
- Take a proactive role in assessing 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 management reports for financial performance;
Including desirable skills, knowledge and experience:
- 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)
- Expert knowledge of International Financial Reporting Standards (IFRSs), International Public Sector Accounting Standards (IPSAS), International Standards on Auditing (ISA), International Standards of Supreme Audit Institutions (ISSAIs)
- Proven ability to implement country or sector level financial management analytical and capacity building initiatives;
- Ability to lead highly technical staff and ensure that teams stay organized and focused, and actively seeks and considers diverse ideas and approaches;
- Strong planning, organization, and time management skills;
- Excellent analytical skills;
- Excellent interpersonal skills and ability to work as part of a team, maintain effective and cooperative relations with national authorities as well as donors, and handle sensitive issues with discretion in a multicultural environment.
- Demonstrated intellectual leadership and ability to integrate sector specific knowledge and ability to coach junior staff;
- Excellent written and verbal communication in English and/or French with a working knowledge of the other language. Fluency in Arabic would be an added advantage.
- Competence in the use of Bank standard software (Word, Excel, Access, and PowerPoint) and preferably SAP.
- Have a minimum of six (6) years of relevant experience, with particular expertise in designing and supporting financial management operations of which at least three (3) years in international financial Institutions.
- Experience in supporting private sector operations (banking, auditing, finance, electricity, agriculture, microfinance institutions) would be an added advantage.
- Experience in Multilateral Development Bank, with emphasis on financial management is highly valuable;
- An understanding of cross-cutting issues beyond financial management (e.g. procurement, governance, donors’ practices) at sector/country level;
How to Apply
Interested and qualified candidates should:
Click here to apply
Application Deadline 5th August, 2018.
Note: This position is classified international status and attracts international terms and conditions of employment.