Financial Control Specialist

Job Posting Organization:
The Asian Development Bank (ADB) is a leading multilateral development bank that was established in 196

• Its mission is to alleviate poverty and promote sustainable development in the Asia-Pacific region. ADB is headquartered in Manila, Philippines, and is owned by 69 members, with 50 of them from the region. The organization focuses on supporting inclusive, resilient, and sustainable growth across Asia and the Pacific, working collaboratively with its members and partners to address complex challenges. ADB employs a diverse workforce and is committed to creating an inclusive environment where everyone is treated with respect and given equal opportunities. The organization encourages applications from all qualified candidates, particularly women, and aims to foster a workplace that values diversity and inclusion.

Job Overview:
The Financial Control Specialist position is integral to the Loan and Grant Disbursement Section within the administration" style="border-bottom: 1px dotted #007bff !important;">Loan Administration Division of the Controller's Department at ADB. This role involves overseeing the approval of disbursement claims and providing guidance on disbursement arrangements and procedures for sovereign loans and grants, ensuring compliance with ADB policies. The specialist will be responsible for managing disbursement processes, reviewing transactions, and advising on policy documents related to sovereign operations. The position requires a proactive approach to problem-solving and the ability to deliver capacity-building seminars to executing agencies, ensuring they are well-versed in ADB policies. The specialist will also be involved in loan and grant negotiations and will represent the Controller's Department in various ADB-wide activities, contributing expertise to cross-departmental collaborations. This role is crucial for maintaining the integrity of disbursement-related systems and processes, ensuring efficiency and adherence to internal controls.

Duties and Responsibilities:
The Financial Control Specialist will have a comprehensive set of responsibilities, including: approving disbursement claims for ADB's sovereign loan and grant projects, ensuring compliance with ADB policies; overseeing the proper liquidation of outstanding advances and reconciliation of advance accounts; reviewing transactions on Statements of Expenditures using audit sampling methods; providing expert advice on draft board papers and loan/grant project documents; participating in loan/grant negotiations with borrowers; advising executing agencies and operational departments during project implementation; delivering capacity-building seminars for executing agencies; conducting disbursement missions and consultations to resolve disbursement-related issues; ensuring data integrity of disbursement-related systems; recommending improvements to disbursement processes and IT systems; representing the Controller's Department in ADB-wide activities; and providing leadership and supervision to reporting staff across headquarters and regional missions.

Required Qualifications:
Candidates must possess a university degree in accounting, finance, or business administration, preferably at the post-graduate level or its equivalent, along with a professional certification such as Chartered Accountant or Certified Public Accountant. A minimum of 6 years of relevant professional experience is required, with a strong background in a specialized area or broad knowledge across multiple areas, including international experience in various countries. Proficiency in enterprise IT platforms related to accounting, auditing, finance, or disbursement is essential, as well as experience with internal controls and business process concepts. Candidates should demonstrate strong analytical and numerical skills, organizational abilities, and experience in banking or financial institutions. Team leadership or managerial experience is also necessary, along with the ability to provide guidance on the delivery of outputs.

Educational Background:
The educational background required for this position includes a university degree in accounting, finance, or business administration. A post-graduate degree or equivalent is preferred, along with a professional certification such as Chartered Accountant or Certified Public Accountant. This educational foundation is crucial for understanding the complexities of financial control and disbursement processes within the context of international development.

Experience:
The position requires at least 6 years of relevant professional experience. This experience should encompass a specialized area of expertise or a broad knowledge base across multiple areas, with a deep proficiency in at least one. Candidates should have international experience, having worked in several countries, which will enhance their understanding of diverse financial environments and practices. Experience in multilateral institutions is particularly valuable, as it provides insight into the unique challenges and requirements of international financial operations.

Languages:
Proficiency in written and verbal English is mandatory for this position, as it is the primary language of communication within ADB. While English is essential, knowledge of additional languages may be considered an asset, particularly those relevant to the regions in which ADB operates, as it can facilitate communication with stakeholders and enhance collaboration in diverse environments.

Additional Notes:
This appointment is a fixed-term position 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 candidate's performance. The role is full-time and based at ADB's headquarters in Manila, Philippines, with relocation required. ADB offers a competitive salary and a comprehensive benefits package, including housing and education allowances, expatriate benefits, a retirement plan, medical and health benefits, paid leave (including parental leave), life and other insurance plans, and opportunities for staff development. The organization is committed to hiring nationals of its 69 member countries and encourages applications from diverse backgrounds.