Financial Management Officer

Job Posting Organization:
The Asian Development Bank (ADB) is a leading multilateral development bank established in 1966, headquartered in Manila, Philippines. ADB is owned by 69 members, with 50 of them from the Asia-Pacific region. The organization is dedicated to supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. ADB works collaboratively with its members and partners to address complex challenges, utilizing innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard the environment. ADB is committed to fostering a diverse and inclusive work environment, ensuring that all individuals are treated with respect and provided equal opportunities regardless of their background, gender, or abilities. Women are particularly encouraged to apply for positions within the organization.

Job Overview:
The Financial Management Officer position is situated within the Financial Management Division (PFFM) of the Procurement, Portfolio and Financial Management Department (PPFD) at ADB. The role is crucial for providing operational services that include conducting financial due diligence for projects during their processing and management phases. The officer will also support country Financial Management assessments and initiatives aimed at strengthening FM systems. This position requires coordination of knowledge sharing and capacity-building support, which is essential for enhancing the financial management capabilities of project teams and executing agencies. Although the primary location is in Islamabad, Pakistan, the officer may also be assigned tasks in other developing member countries of ADB, thereby broadening the scope of impact and engagement.

Duties and Responsibilities:
The Financial Management Officer will be responsible for a variety of tasks, including but not limited to: managing APFS/AEFS reviews for assigned projects, ensuring compliance with financial covenants, and providing FM support to project teams and executing agencies. The officer will lead financial due diligence for project processing, which encompasses FM assessments, cost estimates, financing plans, and risk mitigation strategies. Additionally, the officer will support project implementation through FM-related missions, monitor FM action plans, and maintain project data in ADB systems. The role also involves managing and contributing to country and regional strategy work, monitoring developments in country FM systems that affect project performance, and participating in FM training and knowledge-building activities. The officer will design and implement FM capacity-building programs and provide training for executing agencies and audit firms involved in ADB projects. Other tasks may be assigned as per the workplan.

Required Qualifications:
Candidates must possess a Bachelor's degree in accounting or finance, with advanced training being preferable. A professional qualification in accounting from an internationally recognized institution affiliated with the International Federation of Accountants (IFAC) is mandatory. The ideal candidate should have at least 8 years of work experience in financial management within either the private or public sector. Experience with international financial institutions, particularly in relation to sovereign and non-sovereign transactions, is considered advantageous. A comprehensive understanding of financial management principles, including International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA), and internal controls (COSO), is essential. The candidate should also demonstrate proficiency in evaluating complex situations and identifying effective solutions, as well as the ability to work independently in a minimally supervised environment.

Educational Background:
The educational background required for this position includes a Bachelor's degree in accounting or finance. Advanced training in financial management or related fields is highly desirable. Additionally, candidates must hold a professional accounting qualification from a recognized institution, which is crucial for ensuring compliance with international financial standards and practices.

Experience:
The position requires a minimum of 8 years of relevant work experience in financial management, which can be gained through roles in either the private or public sectors. Experience with international financial institutions is particularly valuable, as it provides insight into the complexities of sovereign and non-sovereign transactions. Candidates should have a proven track record of managing financial assessments, audits, and compliance with financial regulations.

Languages:
Proficiency in English is mandatory, with the ability to express ideas clearly in both spoken and written formats. This is essential for effective communication with project teams, government officials, and other stakeholders. While English is the primary language required, knowledge of additional languages may be considered an asset, particularly in the context of working with diverse teams across different countries.

Additional Notes:
This position is classified as a local staff role, open only to nationals and permanent residents of Pakistan. It is a fixed-term appointment with the possibility of renewal, initially for a period of up to 3 years or until the Normal Retirement Date (NRD), whichever comes first. The decision to renew the appointment will be based on various factors, including the staff member's performance, the need for their specific skills, and the availability of funding. The position offers a competitive salary and a comprehensive benefits package, including retirement plans, medical and health benefits, paid leave, and opportunities for staff development. ADB is committed to creating a supportive work environment that encourages professional growth and development.