Financial Management Specialist

Job Posting Organization:
The World Bank Group is a prominent global institution dedicated to providing funding and knowledge to developing countries. Established with a mission to end extreme poverty and promote shared prosperity, the organization comprises five institutions and has 189 member countries. With over 120 offices worldwide, the World Bank collaborates with both public and private sector partners to invest in innovative projects, utilizing data, research, and technology to address pressing global challenges. The organization operates in various regions, including Eastern and Southern Africa, which is home to approximately 700 million people and encompasses 26 countries. The World Bank aims to harness the potential and innovation within this diverse region to tackle significant development challenges and improve the lives of its citizens.

Job Overview:
The Financial Management Specialist position is crucial for the World Bank's operations in Mozambique and the surrounding region. The role involves working under the supervision of the Institutions Practice Manager for the EAEG2 Unit, which covers multiple countries in Southern Africa. The specialist will focus on conducting financial management assessments for new projects and providing ongoing support for existing projects. This includes overseeing project budgeting, internal controls, accounting, treasury management, funds flow, financial reporting, and auditing arrangements. The specialist will also monitor compliance with the Bank's financial management policies and procedures, ensuring that projects adhere to financial covenants and that financial reports are accurate and timely. The position requires collaboration with various stakeholders, including project implementation agencies and World Bank staff, to enhance financial management practices and contribute to the overall success of projects in the region.

Duties and Responsibilities:
The Financial Management Specialist will have a comprehensive set of responsibilities, including:

• Conducting financial management assessments for new projects and providing implementation support for ongoing projects.
• Monitoring compliance with the Bank's financial management policies and procedures, including reviewing financial reports and preparing communications for project implementation agencies.
• Updating the Bank's automated financial management monitoring systems promptly.
• Assessing the independence and competence of audit firms and ensuring compliance with international auditing standards.
• Providing training and guidance on financial management aspects to both external clients (borrowers and project implementing agencies) and internal clients (World Bank staff).
• Contributing to project and country documents as needed, ensuring that financial management considerations are integrated into broader project planning and execution.

Required Qualifications:
Candidates must possess a professional accounting qualification (such as CPA, CA, ACCA, DEC, or equivalent) and hold a Master's degree in accounting, public financial management, finance, or a related field. Additionally, applicants should have at least five years of relevant experience in financial management, with a strong understanding of International Reporting Standards (IFRS) and International Standards on Audit (ISA). Familiarity with International Public Sector Accounting Standards (IPSAS) and the International Standards of Supreme Audit Institutions (ISSAI) is advantageous. Candidates should also have experience in assessing internal control systems and evaluating financial management systems, including budgeting, accounting, cash management, internal audit, and financial reporting systems.

Educational Background:
The educational requirements for the Financial Management Specialist position include a Master's degree in accounting, public financial management, finance, or a closely related field. Additionally, candidates must hold a recognized professional accounting qualification, which demonstrates their expertise and commitment to the field of financial management.

Experience:
The position requires a minimum of five years of relevant experience in financial management. Candidates should have a proven track record of working in environments that involve public financial management, including experience in assessing and improving financial management systems. Familiarity with the World Bank's operations and prior experience working in Mozambique or similar contexts will be considered an advantage.

Languages:
Fluency in both Portuguese and English is mandatory for this position, as effective communication is essential for collaboration with various stakeholders. Candidates should be able to communicate clearly and effectively in both written and oral forms. Knowledge of additional languages may be beneficial but is not required.

Additional Notes:
This position is a local recruitment opportunity with a term duration of three years. The World Bank Group offers a comprehensive benefits package, including a retirement plan, medical, life, and disability insurance, as well as 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 role is full-time and based in Maputo, Mozambique, with a focus on supporting projects in the Eastern and Southern Africa region.