Full Time Principal Financial Management Operations Officer, SNFI2
Principal Financial Management Operations Officer
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 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, 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 Bank is seeking to build a management team that will lead the successful implementation of this vision.
The Senior Vice-Presidency is responsible for supporting the President in the day-to-day management of the Bank Group to achieve it strategic objective, and drive performance culture that will align all processes and systems to deliver high impact results. The Senior Vice-Presidency will provide 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 Senior Vice-Presidency will lead senior management discussions, decisions-making process and the implementation of key Board and Management decisions.
THE HIRING DEPARTMENT:
The SNFI department has four (4) divisions including two (2) for procurement and two (2) for financial management (FM) whose main activities are to provide support to operations complexes for ensuring that project’s fiduciary arrangements comply with Bank Fiduciary (Procurement and FM) policies and procedures and contribute to effective delivery and value for money in Bank-financed projects.
The Financial Management Division is anchored at the Head-Quarters in the Fiduciary and Inspection Department (SNFI) under the Senior Vice-Presidency. The Division provides professional leadership in ensuring high quality performance with respect to compliance with Bank financial management policies and procedures in lending operations; and in ensuring high quality work in diagnostic work and country dialogue designed to support development of budgeting, accounting and reporting, internal control, treasury management and external auditing and overall financial management policies, systems and capacity of member countries.
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 functionally to the Division Manager-Financial Management for North, Central and West Regions (SNFI-2) and administratively to the Regional Operations Manager for Implementation Support (ROM-IS)
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; (iii) quality of advice to both Bank sector and Borrowers staff in countries under his responsibilities
- 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; (iv) 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 (i) coaching, (ii) mentoring, (iii) training and (iv) upgrading of the skills.
Duties and responsibilities
Under the oversight and guidance of the Division Manager, Financial Management, the Principal Financial Management Operations Officer will:
- Provide technical guidance at the Field Offices in the financial management activities of assigned projects and programs within the framework of the Bank’s policies and guidelines all over the operations cycle.
- Take a proactive role ensuring ‘Quality at Entry work’ in assessing the adequacy of the Borrower’s project financial management systems and the borrowers’ ability to manage and monitor Bank financed projects. This includes budgeting, internal control, treasury management, accounting, financial reporting and external auditing;
- Oversee the review of and provision of comments on financial management aspects of assigned projects and programs as documented in concept papers, feasibility studies, appraisal reports and other relevant documents to ensure consistency and enhance the quality of projects/program from the financial management perspective.
- Attend negotiations and ensure FM 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.
- Undertakes on-site and desk supervision mission on a risk-based approach and issues the supervision reports including FM performance ratings and drafting the contribution to the aide memoire
- 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;
- 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;
- Participates in PEFA, SAI-PMF, and ROSC-AA Assessments and on that basis, provides information to Bank operations and other initiatives in the countries concerned.
- Plays an active role in CPPRs from the financial management perspective and draft the FM part of the CPPR report
- Undertake Capacity building on FM issues in the countries and in sector departments in the Bank
- Participate in fiduciary clinics;
- Participate in donor coordination meetings within the region (not continent wide or global) and in country dialogue platforms between the country and the donors on the basis of the overall Bank’s strategy to support aid effectiveness
- Hold a Master’s degree in Accounting, Finance, Business Administration or a related discipline
- Hold a professional Accounting, External Auditing or Internal Auditing Certification/Degree (CPA, CA, ACCA, Expert Comptable, IIA…)
- Have a minimum of six (6) years of relevant experience in the Bank or similar financial institution, with particular expertise in designing, supporting and implementing financial management operations;
- Have a sound knowledge of the African Development Bank’s Financial Management Policy and Procedures;
- Experience in supporting private sector operations (banking, auditing, finance, microfinance institutions, agriculture, electricity, water) would be an added advantage;
- Experience in an Multilateral Development Bank, with emphasis on financial management, highly valuable;
- Experience in the review of financial management policy documents;
- Expert knowledge of International Financial Reporting Standards (IFRSs) and International Standards on Auditing (ISAs). Knowledge of International Public Sector Accounting Standards (IPSASs) and the International Standards of Supreme Audit Institutions (ISSAIs);
- A good understanding of cross-cutting issues beyond financial management (e.g. procurement, governance, donors’ practices) at sector/country level;
- Strong planning, organization, and time management skills;
- Excellent analytical skills;
- Ability to communicate effectively (Written and Oral) in French or English, with a good working knowledge of the other language;
- Ability to work in Arabic will be an added advantage
- Competence in the use of standard Microsoft Office Suite applications including SAP.
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