Principal Financial Accountant Description
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 81 member states, including 54 in Africa (Regional Member Countries). The Banks 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.
The Vice Presidency for Finance oversees the financial management of the Bank Group. This encompasses the Bank Groups treasury activities including borrowings from the capital markets and investment activities; controllership functions including financial reporting and loan administration; strategic resource mobilization and the strengthening of the non-statutory financial resources and instruments; the overall asset/liability management for the Bank Group.
THE HIRING DEPARTMENT:
The Financial Control Department is responsible for accounting for the financial consequences of the Bank Groups transactions and decisions, and for the preparation, fair presentation and overall integrity of the internal financial reports and published financial statements. The department is also responsible for loan administration and accounting and related fiduciary responsibilities, including disbursement of funds to projects and programs financed by the Bank Group. Lastly, the department provides decision support and expertise in the development and implementation of financial control policies, operational and financial strategies and related information systems.
The Principal Financial Accountant is responsible for
Preparing, timely and accurate accounts and reporting transactions in accordance with International Financial Reporting Standards and rules of the Bank Group
Providing accurate financial reports to Management, Boards of Directors, bilateral donors and other stakeholders for useful decision making
Maintaining the accounting procedures of the Bank Group and provide accounting and reporting guidance on various Bank Group initiatives
Duties and responsibilities
Under the supervision and guidance of the Division Manager, the main responsibilities of the Principal Financial Accountant will be:
Coordinate financial reporting activities, including those of Special, Trust, and donor Funds
Participate in the preparation of monthly, quarterly, and annual financial statements
Ensure accuracy and proper reconciliation of the inter-institution accounts
Provide technical accounting guidance to other Departments and Units of the Bank as may be needed.
Review and provide input on the financial aspects of agreements to be signed by the Bank with the donors
Represent the Division/Department on technical committees and special initiatives and provide input on the financial aspects of proposals
Provide technical accounting and policy guidance on system implementation projects in the area of financial accounting reporting
Maintain the Chart of Accounts and provide business process support for SAP (FI) applications.
Maintain system configuration related to Financial Accounting in SAP
Continuously review of the staff SAP profile in the Division to ensure adequate Segregation of Duties
Supervise support staff in their daily financial accounting responsibilities.
Represent the Division/Department in the various working groups, including those of the Asset and Liability Management Committee (ALCO).
Participate in the evaluation of internal control within the Division.
Participate in the provision of information requested by internal and external auditors.
Execute and review the monthly revaluation for the Bank Group
Other functions that may be assigned by the Division Manager that impact the work of the Division
Hold at least a Masters degree or its equivalent in Accounting, Finance, Business Administration or applied Economics.
Membership with a professional Accounting board.
Have a minimum of six (06) years of practical experience related to financial reporting, accounting procedures, IFRS compliance, etc.
Ability to effectively interpret and apply new and revised IFRS standards to ensure compliance
Ability to deal with sensitive issues in a multi-cultural environment and to build effective working relations with colleagues
Ability to work independently with minimum supervision
Ability to drive change
Ability to be flexible, open-minded with integrity
Ability to communicate effectively (written and oral) in French.
Competence in the use of standard software (Word, Excel, Access, PowerPoint)
Knowledge of SAP Finance and related modules is an added advantage
To apply for this job please visit www.afdb.org.