Associate Financial Control Officer/Financial Control Officer (SPSO)

Job Posting Organization:
The Asian Development Bank (ADB) is a prominent multilateral development bank established in 1966, headquartered in Manila, Philippines. ADB's mission is to alleviate poverty and promote sustainable development in the Asia-Pacific region. With 69 member countries, including 50 from the Asia-Pacific region, ADB works collaboratively with its members and partners to address complex challenges and foster inclusive, resilient, and sustainable growth. ADB employs a diverse workforce and is committed to creating an inclusive environment where all employees are treated with respect and given equal opportunities. The organization focuses on innovative financial tools and strategic partnerships to transform lives and build quality infrastructure across the region.

Job Overview:
The Associate Financial Control Officer/Financial Control Officer position is integral to the Loan and Grant Disbursement Section within the Controller's Department of ADB. This role is crucial for managing disbursement processes for ADB's sovereign investment projects in Pacific countries, ensuring compliance with ADB policies and procedures. The officer will be responsible for verifying withdrawal applications, ensuring the accuracy and completeness of documentation, and overseeing compliance with disbursement-related policies. The position also involves providing capacity building for executing and implementing agencies on disbursement procedures, contributing to business process improvements, and supporting ADB's Organizational Resilience initiatives. The role requires a proactive approach to problem-solving and collaboration with diverse teams to achieve organizational goals.

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

• Verifying the processing of withdrawal applications for ADB sovereign loan, grant, and cofinancing projects in Pacific countries, ensuring final approval by the supervisor.
• Reviewing and verifying applications to ensure expenditure eligibility, accuracy, and completeness of all required documentation.
• Ensuring compliance with disbursement-related policies, lending agreements, and the Loan Disbursement Handbook (LDH).
• Overseeing the monitoring of project advance account usage and turnover ratios for compliance with LDH requirements.
• Verifying the review of project expenditures claimed through Statement of Expenditure (SOE) and other simplified documentation procedures, assessing risk, and checking relevant evidence using statistical sampling methods.
• Providing analysis and solutions for complex disbursement issues.
• Conducting capacity building for Executing/Implementing Agencies on disbursement procedures.
• Contributing to the improvement of business processes and providing suggestions for enhancements.
• Participating in user acceptance testing for new systems or processes. 1
• Reviewing and providing inputs on disbursement-related matters for changes in projects, such as changes in disbursement arrangements or reallocations. 1
• Learning and complying with the division's Organizational Resilience plan.

Required Qualifications:
Candidates must possess a Bachelor's degree in Accounting, Business Administration, or Finance, along with a Certified Public Accountant (CPA) designation or equivalent. Advanced training in relevant fields is preferred. Additionally, candidates should have at least 5 years of experience in banking, accounting, auditing, disbursement, or related areas within financial institutions. A working knowledge of international banking transactions and demonstrated expertise in internal control concepts and business processes are essential. Proficiency in software programs and large-scale IT systems used by international banks or multilateral development banks is required. Candidates should also have strong written and verbal communication skills in English, with a proven ability to collaborate effectively in cross-cultural and diverse teams.

Educational Background:
The educational background required for this position includes a Bachelor's degree in a relevant field such as Accounting, Business Administration, or Finance. A Certified Public Accountant (CPA) designation or equivalent is mandatory, and advanced training in finance or related areas is highly desirable. This educational foundation is critical for understanding the complexities of financial control and disbursement processes within the context of international development.

Experience:
The position requires a minimum of 5 years of relevant experience in banking, accounting, auditing, disbursement, or related areas within financial institutions. Candidates should have a solid understanding of financial reporting, internal controls, and risk assessment related to financial transactions. Experience in managing disbursement processes for international projects or working with multilateral development banks is particularly advantageous.

Languages:
Proficiency in English is mandatory for this position, both written and verbal. Candidates should be able to communicate effectively in English, as it is the primary language of operation within ADB. While not mandatory, knowledge of additional languages may be considered an asset, particularly if it pertains to the regions where ADB operates.

Additional Notes:
This position is a local staff appointment, open only to nationals and permanent residents of Suva, Fiji. It is a fixed-term appointment with the option to renew, initially for a period of up to 3 years or until the Normal Retirement Date (NRD), whichever comes first. After the initial fixed-term period, ADB may choose to renew the appointment for an additional 3 years based on various factors, including the need for the specific skills and experience of the staff member, funding availability, and performance. The position is not convertible to a regular appointment, and multiple positions at various grades may be filled from this opening. The actual position title and grade will depend on the qualifications, experience, and job scope assigned to the selected applicants. ADB offers a competitive salary and a comprehensive benefits package, including retirement plans, medical and health benefits, paid leave, and staff development opportunities.