Financial Management Specialist

Job Posting Organization:
The World Bank is a prominent global financial institution established to provide funding and knowledge to developing countries. It is part of a unique global partnership consisting of five institutions, dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development. With 189 member countries and over 120 offices worldwide, the World Bank plays a crucial role in addressing the most pressing development challenges faced by nations. The organization focuses on various sectors, including financial management, and works closely with public and private sector partners to invest in innovative projects that leverage data, research, and technology. The World Bank's mission is to foster sustainable economic growth and improve living standards in developing countries, particularly in regions like South Asia, which faces unique challenges such as poverty, exclusion, and environmental issues. For more information about the World Bank and its initiatives, visit www.worldbank.org.

Job Overview:
The 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 supporting World Bank Group-financed projects and programs by performing a variety of financial management duties and providing advisory and technical assistance. This role requires a deep understanding of financial management systems and practices, particularly in the context of developing countries. The FMS will assess financial management arrangements for new and ongoing projects, ensuring compliance with World Bank standards and providing implementation support. The position also involves delivering capacity-building support to project staff within client governments, enhancing public financial accountability, and contributing to the development of policy and thematic notes. The FMS will work closely with the regional GGP team and report directly to the Unit’s Practice Manager based in Washington, making it essential for the candidate to possess strong communication and collaboration skills.

Duties and Responsibilities:
The Financial Management Specialist (FMS) will have a comprehensive set of responsibilities, including but not limited to: assessing the financial management arrangements for new and ongoing projects to ensure they meet World Bank standards; providing implementation support and supervision for projects financed by loans and grants, ensuring adherence to fiduciary and audit requirements; delivering capacity-building support to project staff within client governments to enhance public financial accountability; conducting capacity-building activities in collaboration with the Governance team; contributing to the development of policy and thematic notes, as well as regional, Global Practice, and corporate knowledge products; advising clients with innovative approaches to strengthen fiduciary assurance and ensure effective use of funds; leveraging knowledge and experience in public sector financial management to support partner countries in building their Public Financial Management (PFM) capacities; and maintaining strong relationships with stakeholders to facilitate effective project implementation.

Required Qualifications:
Candidates for the Financial Management Specialist position must possess a qualified professional accountant designation (CPA, CA, ACCA, or equivalent membership of an internationally recognized professional accountancy body) along with a Master’s degree in accounting, public financial management, finance, or a related field. Additionally, candidates should have at least 5 years of directly relevant experience in providing fiduciary or audit assurance services. Proficiency in written and spoken English is essential, as strong communication skills are necessary for preparing clear reports, coordinating with international teams, and engaging effectively with stakeholders. Extensive experience in evaluating financial management systems, including budgeting, accounting, cash management, internal audit, financial reporting, and external auditing, is also required. Candidates should demonstrate strong analytical skills, with expertise in interpreting financial statements and evaluating audit reports, as well as knowledge of financial management systems in Bangladesh and familiarity with World Bank financial management practices and international standards.

Educational Background:
The educational background required for the Financial Management Specialist position includes a Master’s degree in accounting, public financial management, finance, or a related field. Additionally, candidates must hold a qualified professional accountant designation, such as CPA, CA, or ACCA, which signifies their expertise and commitment to the field of financial management. This educational foundation is crucial for understanding the complexities of financial systems and ensuring compliance with international standards.

Experience:
The position requires candidates to have a minimum of 5 years of directly relevant experience in providing fiduciary or audit assurance services. This experience should encompass a comprehensive understanding of financial management systems and practices, particularly in the context of developing countries. Candidates should have a proven track record of evaluating financial management systems, conducting audits, and providing advisory services to enhance financial accountability and compliance.

Languages:
Proficiency in written and spoken English is mandatory for this position, as effective communication is essential for preparing reports, coordinating with international teams, and engaging with stakeholders. While English is the required language, knowledge of additional languages may be considered an asset, particularly if they are relevant to the regions in which the World Bank operates.

Additional Notes:
The Financial Management Specialist position is a local recruitment role with a term duration of 5 years. The position is based in Dhaka, Bangladesh, and is classified at level GF. The World Bank Group offers a comprehensive benefits package, including a retirement plan, medical, life and disability insurance, and paid leave, including parental leave. The organization is committed to diversity and inclusion, ensuring equal opportunities for all employees regardless of gender, gender identity, religion, race, ethnicity, sexual orientation, or disability. The World Bank Group values a dedicated and committed workforce and encourages applications from individuals who meet the qualifications and are passionate about contributing to the organization's mission.