Associate 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 was founded in 1966 and currently comprises 69 member countries, with 50 of these members located in 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 employs a diverse workforce dedicated to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while also focusing on eradicating extreme poverty. ADB operates in various sectors, including infrastructure, education, health, and environmental sustainability, and is committed to its Strategy 2030 vision, which aims to address the region's most pressing challenges.

Job Overview:
The Associate Financial Management Officer position is a critical role within the Public Financial Management Division (PFFM) of the Procurement, Portfolio and Financial Management Department (PPFD) at ADB. The successful candidate will be responsible for providing operational services related to financial due diligence for projects during their processing and supervision phases. This role involves supporting country financial management assessments and strengthening financial management systems, as well as coordinating knowledge sharing and capacity building initiatives. The position is based in Manila, but may require engagement with projects in other developing member countries of ADB. The officer will work closely with project teams and executing agencies to ensure compliance with ADB's financial management requirements and to facilitate effective project implementation. The role demands a proactive approach to problem-solving and the ability to communicate effectively with various stakeholders, including government officials and project teams.

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

• Providing operational services by reviewing audited project and entity financial statements (APFS and AEFS) for assigned projects, ensuring compliance with ADB's internal review guidelines.
• Analyzing noncompliance issues and summarizing findings in regular reports, while following up with project teams and executing agencies to achieve compliance.
• Monitoring assigned projects' compliance with financial covenants and coordinating with project teams to resolve issues.
• Conducting financial management assessments of executing agencies and implementing agencies, including reviewing previous assessments and determining necessary updates.
• Preparing financial projections and conducting financial analyses to assess financial sustainability and cost-recovery policies.
• Participating in country or regional partnership strategy preparations and governance risk assessments.
• Contributing to knowledge management through participation in training and conferences, and supporting capacity building programs for clients.
• Performing other tasks as assigned in the workplan, ensuring alignment with ADB's objectives and standards.

Required Qualifications:
Candidates for the Associate Financial Management Officer position must possess a Bachelor's degree in Accounting, Finance, or a related field, preferably with advanced training. A professional accounting qualification (e.g., CPA, CA) from a recognized institution is required, and a CFA qualification is considered an advantage. The candidate should have at least 5 years of relevant professional experience in financial management within the private or public sector, with a focus on accounting, budgeting, and auditing. Experience with investment project appraisal and financial institutions, particularly multilateral development banks, is also advantageous. A comprehensive understanding of financial management principles, including International Financial Reporting Standards and auditing standards, is essential. Candidates must demonstrate proficiency in managing tasks independently and possess strong analytical and research skills.

Educational Background:
The educational background required for this position includes a Bachelor's degree in Accounting, Finance, or a related field. Advanced training in financial management or related disciplines is preferred. Professional qualifications such as CPA or CA from an internationally recognized institution are mandatory, while a CFA qualification is a plus. The educational qualifications should reflect a solid foundation in financial principles and practices, enabling the candidate to effectively perform the duties associated with the role.

Experience:
The position requires a minimum of 5 years of relevant professional experience in financial management, which can be gained through roles in either the private or public sector. Candidates should have experience in accounting, budgeting, and auditing, with a strong emphasis on investment project appraisal and familiarity with the appraisal processes of financial institutions, including multilateral development banks. This experience should demonstrate the candidate's ability to navigate complex financial environments and contribute to effective project financial management.

Languages:
Proficiency in English is mandatory for this position, as the candidate must be able to express ideas clearly in both spoken and written formats. Excellent written communication skills, including report writing, are essential. While English is the primary language required, knowledge of additional languages may be considered an asset, particularly if it facilitates communication with stakeholders in the Asia-Pacific region.

Additional Notes:
This appointment is open to both internal and external applicants, but it is specifically a local staff position, limited to nationals and permanent residents of the Philippines. The role is a fixed-term appointment with the possibility of renewal, initially for a period of up to 3 years or until the Normal Retirement Date (NRD), whichever comes first. After the initial term, ADB may choose to renew the appointment based on various factors, including the staff member's performance and the organization's needs. The position offers a competitive salary and benefits package, including housing and education allowances (if applicable), retirement plans, medical benefits, paid leave, and opportunities for staff development.