Senior Financial Management Officer

Job Posting Organization:
The Asian Development Bank (ADB) is an international development finance institution that was established to foster economic growth and cooperation in the Asia-Pacific region. Headquartered in Manila, Philippines, ADB has been operational since 1966 and currently comprises 69 member countries, with 50 of these from the Asia and Pacific region. ADB's mission is to alleviate poverty and promote sustainable development through financial assistance, knowledge sharing, and partnerships. The organization is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while also focusing on eradicating extreme poverty. ADB employs a diverse workforce and is dedicated to creating an inclusive environment where all employees are treated with respect and given equal opportunities. The organization operates in various countries across the Asia-Pacific region, providing financial and technical assistance to support development projects.

Job Overview:
As a Senior Financial Management Officer at ADB, you will play a crucial role in enhancing the financial management capabilities of projects within the organization. Your primary responsibilities will include conducting financial due diligence for projects during their processing and management phases, supporting country financial management assessments, and strengthening financial management systems. You will also be responsible for coordinating knowledge sharing and capacity building initiatives. This position requires a strong understanding of financial management principles and practices, as well as the ability to work collaboratively with project teams and external stakeholders. You will be expected to lead operational services, participate in project preparation and review missions, and contribute to the development of financial management capacity among executing and implementing agencies. Your work will directly impact the successful implementation of projects aimed at fostering economic growth and development in the Asia-Pacific region.

Duties and Responsibilities:
The duties and responsibilities of the Senior Financial Management Officer include:

• Leading the review of audited project and entity financial statements (APFS/AEFS) for assigned projects, ensuring compliance with ADB's internal review guidelines.
• Providing financial management support to project teams, including communication with executing and implementing agencies regarding issues identified in financial statements.
• Conducting financial management assessments of executing and implementing agencies, including evaluating their capacity for planning, budgeting, accounting, reporting, auditing, and internal controls.
• Preparing financial projections and conducting financial analyses to determine the financial sustainability of projects.
• Developing risk mitigation measures and financial covenants to address identified deficiencies.
• Monitoring compliance with financial covenants in legal agreements and coordinating with project teams to resolve compliance issues.
• Participating in country or regional partnership strategy preparations and governance risk assessments.
• Contributing to knowledge management initiatives, including training and capacity building programs for clients.
• Inputting and updating project data in ADB information systems and databases. 1
• Performing other tasks as assigned in your workplan.

Required Qualifications:
To qualify for the Senior Financial Management Officer position, candidates must possess a Bachelor's degree in accounting, finance, or a related field, with a preference for those holding a Master's degree or equivalent. A professional qualification in accounting, such as CPA, CA, or ACCA from an internationally recognized institution, is required. A CFA qualification is considered an advantage. Candidates should have at least 8 years of relevant professional experience in financial management within the private or public sector, including accounting, budgeting, and auditing. Additionally, a minimum of 4 years of supervisory experience is required. Familiarity with investment project appraisal and the appraisal processes of financial institutions, particularly multilateral development banks, is advantageous. Candidates should demonstrate advanced knowledge of financial management principles, including International Financial Reporting Standards and auditing standards, as well as experience in advising clients on financial management systems.

Educational Background:
Candidates must have a Bachelor's degree in accounting, finance, or a related field. A Master's degree or equivalent is preferred. Additionally, candidates should hold a professional accounting qualification from a recognized institution, such as CPA, CA, or ACCA. A CFA qualification is a plus, indicating a higher level of expertise in analysis" style="border-bottom: 1px dotted #007bff !important;">financial analysis and investment management.

Experience:
The position requires at least 8 years of relevant professional experience in financial management, which can be gained through roles in either the private or public sector. This experience should encompass areas such as accounting, budgeting, and auditing. Furthermore, candidates must have a minimum of 4 years of supervisory experience, demonstrating their ability to lead teams and manage projects effectively. Experience with investment project appraisal and the appraisal processes of financial institutions, particularly in the context of multilateral development banks, is highly desirable.

Languages:
Proficiency in English is mandatory, with a strong ability to express ideas clearly in both spoken and written formats, including report writing. Candidates should demonstrate effective communication skills to liaise with government officials and other stakeholders. While English is the primary language required for this position, knowledge of additional languages may be considered an asset, particularly in the context of working in diverse regions of the Asia-Pacific.

Additional Notes:
This position is a fixed-term appointment for an initial period of 3 years, with the possibility of extension for up to 2 additional years, conversion to a regular appointment, or termination at the end of the initial period based on ADB's needs and the employee's performance. The role is full-time and based at ADB's headquarters in Manila, Philippines. ADB offers a competitive salary and comprehensive benefits package, including housing and education allowances (if applicable), expatriate benefits (if applicable), retirement plans, medical and health benefits, paid leave (including parental leave), and life and other insurance plans. ADB encourages applications from both internal and external candidates and is committed to promoting diversity and inclusion in its workforce.