Senior Financial Management Specialist

Job Posting Organization:
The World Bank is a prominent global institution established to provide financial and technical assistance to developing countries. Its mission is to end extreme poverty and promote shared prosperity by providing funding and expertise to address the most pressing development challenges. The organization was founded in 1944 and has grown to include 189 member countries and over 120 offices worldwide. The World Bank operates in various sectors, including financial management, education, health, and infrastructure, and is committed to sustainable development and poverty alleviation.

Job Overview:
The Senior Financial Management Specialist (FMS) position at the World Bank is a critical role within the Governance Global Practice (GGP) in Bangladesh. The FMS will be responsible for overseeing financial management arrangements throughout the project cycle, ensuring compliance with the Bank's policies and procedures. This role involves conducting financial management assessments, providing implementation support for ongoing projects, and engaging with external clients to enhance their financial management capabilities. The FMS will work closely with a team of professionals, contributing to the development of public financial management reforms and addressing challenges related to transparency and accountability in financial reporting. The position requires a proactive approach to problem-solving and a commitment to improving financial management practices in the region.

Duties and Responsibilities:
The Senior Financial Management Specialist will undertake a variety of responsibilities, including: conducting financial management assessments for new projects, which encompass project budgeting, internal controls, accounting, treasury, funds flow, financial reporting, and auditing arrangements; providing implementation support for ongoing projects, including transaction testing and reviews of financial reports; monitoring compliance with the Bank's financial management policies; assessing the independence and competence of audit firms; providing training and guidance on financial management to both internal and external clients; engaging in disbursement support activities to facilitate the flow of funds; leading analytical work on public financial management issues; designing and implementing reforms to enhance transparency and accountability; and participating in country-level portfolio activities such as performance reviews and risk assessments.

Required Qualifications:
Candidates for the Senior Financial Management Specialist position must possess a professional accounting qualification (CPA, CA, ACCA, or equivalent) and a Master's degree in accounting, public financial management, finance, or a related field. Additionally, candidates should have at least 8 years of relevant experience in fiduciary or audit assurance services, with a strong understanding of public financial management. Experience working with international development institutions or public sector audit clients is essential, along with multi-country experience in developing countries. Previous experience in the South Asia region is highly desirable. Candidates should also demonstrate strong leadership skills, the ability to mentor junior staff, and effective communication skills in English.

Educational Background:
The educational background required for this position includes a Master's degree in accounting, public financial management, finance, or a related field, along with a professional accounting qualification such as CPA, CA, or ACCA. This combination of education and professional certification is essential for understanding complex financial management issues and providing effective oversight and guidance in the role.

Experience:
The position requires a minimum of 8 years of directly relevant experience in providing fiduciary or audit assurance services. Candidates should have a proven track record of working in public financial management, either through roles in international development institutions or as auditors for public sector clients. Experience in mentoring and supervising junior staff is also important, as is the ability to work effectively both independently and as part of a team.

Languages:
Fluency in English is mandatory for this position, as strong written and verbal communication skills are essential for interacting with stakeholders and producing high-quality reports. While English is the primary language required, knowledge of additional languages may be considered an asset, particularly in the context of working in the South Asia region.

Additional Notes:
This position is classified as an international recruitment role with a term duration of 5 years. The World Bank Group offers a comprehensive benefits package, including retirement plans, medical and life insurance, paid leave, and reasonable accommodations for individuals with disabilities. The organization is committed to diversity and inclusion, ensuring equal opportunities for all employees regardless of gender, race, ethnicity, or other characteristics. The role may require frequent travel, sometimes at short notice, to engage with stakeholders and support project implementation.