Financial Control Assistant

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 has 68 member countries, with 49 of these from the Asia and Pacific region. The organization is dedicated to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while also focusing on eradicating extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 203

• The institution is committed to creating an inclusive work environment where everyone is treated with respect and given equal opportunities, encouraging candidates from diverse backgrounds to apply, particularly women.

Job Overview:
The Financial Control Assistant position is integral to the Trust Funds and Administrative Expenses Division within the Controller's Department at ADB. This role involves a wide range of accounting, financial control, and oversight functions that support ADB's global network of field offices. The successful candidate will be responsible for maintaining and analyzing accounting records, ensuring compliance with accounting policies and internal controls, and preparing various accounting and management reports. The position requires collaboration with field office staff, headquarters departments, and other stakeholders to ensure the effective application of policies, financial controls, and efficient business processes across ADB's field office network. The Financial Control Assistant will play a crucial role in contributing to the preparation of financial statements and accounting schedules, maintaining controls over accounting data, supporting reconciliations, monitoring financial activities, and assisting field offices in interpreting financial policies.

Duties and Responsibilities:
The Financial Control Assistant will have a comprehensive set of duties and responsibilities, including:

• Contributing to the preparation of financial statements and multiple accounting schedules to support financial reports.
• Maintaining controls over the preparation of accounting data and reviewing supporting documents for accuracy, consistency, propriety, and compliance with accounting practices, procedures, and guidelines.
• Supporting the reconciliation and timely resolution of assigned accounts and accounting issues.
• Monitoring field office financial and administrative activities to ensure compliance with ADB policies, procedures, delegated authorities, and internal control requirements.
• Assisting field offices in interpreting and applying financial, accounting, and administrative policies, and coordinating the resolution of operational issues.
• Maintaining records and reports on ADB accounting policies, procedures, and guidelines, ensuring a framework for their organization and retrieval.
• Participating in the implementation and enhancement of systems, ensuring their accuracy and reliability, recommending process and system improvements, and coordinating requirements with the Information Technology Department.
• Preparing management information, analysis, and reports to support oversight and continuous improvement projects.
• Coordinating and obtaining/providing required information following established procedures. 1
• Performing any other assignments as reflected in the workplan.

Required Qualifications:
To qualify for the Financial Control Assistant position, candidates must possess a Bachelor's degree in business administration, accounting, or finance, with a preference for those who are Certified Public Accountants (CPA). Additionally, candidates should have at least 5 years of work experience in auditing or accounting within financial institutions. Familiarity with accounting practices and systems, as well as general policies, procedures, guidelines, and reporting requirements prevalent in a multilateral institution, is essential. Candidates should also have knowledge of internal control concepts and business processes to maintain sound internal controls and assess risks related to financial reporting. A solid understanding of general accounting principles, including United States Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), is required, along with demonstrated experience in collaborating within cross-cultural and diverse teams to achieve shared goals. Proficiency in ADB standard and similar software programs used by multilateral development banks is also necessary.

Educational Background:
Candidates must have a Bachelor's degree in business administration, accounting, or finance. A Certified Public Accountant (CPA) designation is preferred, indicating a higher level of expertise and understanding of accounting principles and practices.

Experience:
The position requires a minimum of 5 years of relevant work experience in auditing or accounting, specifically within financial institutions. This experience should include familiarity with accounting practices, systems, and reporting requirements typical of multilateral institutions, as well as knowledge of internal control concepts and business processes.

Languages:
Proficiency in English, both written and verbal, is mandatory for this position. This proficiency is essential for effective communication within the organization and with external stakeholders. Additional language skills may be considered an asset but are not explicitly required.

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 years or conversion to a regular appointment based on ADB's needs and the employee's performance. The role is open to both internal and external applicants, and ADB offers competitive compensation along with a comprehensive benefits package, including paid leave, medical and health benefits, life and other insurance plans, staff development opportunities, and a retirement plan. ADB is committed to hiring nationals of its 68 member countries and encourages applications from diverse backgrounds.