Senior Financial Management Specialist

Job Posting Organization:
The World Bank is a global organization that aims to reduce poverty and support development by providing financial and technical assistance to developing countries. Established in 1944, the World Bank has grown to include 189 member countries and operates in over 100 countries worldwide. The organization focuses on various sectors including education, health, public financial management, and infrastructure, among others. The Governance-Financial Management Unit for East Asia and Pacific (EAP) is part of the World Bank's efforts to enhance governance and financial management systems in the region, ensuring that funds are used effectively and transparently to promote sustainable development.

Job Overview:
The Senior Financial Management Specialist (SFMS) position is a critical role within the World Bank's Governance-Financial Management Unit for East Asia and Pacific (EAP). The selected candidate will be responsible for overseeing financial management practices in Indonesia and Timor Leste, ensuring that projects financed by the World Bank adhere to high standards of fiduciary assurance. The SFMS will engage in policy dialogue, provide analytical and advisory services, and strengthen public financial management systems in the region. This role requires a comprehensive understanding of fiduciary risk management, quality assurance, and public financial management, as well as strong communication and client engagement skills. The SFMS will work collaboratively with various stakeholders to promote economic growth, enhance human capital, and build resilience against climate risks in the region.

Duties and Responsibilities:
The Senior Financial Management Specialist will have a wide range of responsibilities, including but not limited to: assessing the adequacy of financial management arrangements and monitoring performance and risks in the Pacific lending portfolio; providing quality assurance on financial management for high-risk and complex operations; conducting financial management-related risk assessments and proposing appropriate arrangements; supervising projects financed by loans and grants; monitoring the implementation of risk mitigation measures; reviewing unaudited interim financial reports and audit reports, and ensuring compliance with the Bank's requirements; providing technical inputs to policy and strategic work; leading the preparation and implementation support for Public Financial Management-related lending operations; mentoring junior staff and consultants; and supporting partner countries in enhancing their fiduciary systems performance and capacity.

Required Qualifications:
Candidates must possess a strong background in financial management, with a focus on fiduciary and public financial management experience. A qualified professional accountant designation (such as CPA, CA, or ACCA) is required, along with a master's degree in a relevant field such as accounting, finance, or public policy. Additionally, candidates should have at least 8 years of relevant professional experience, in-depth knowledge of financial management risk management, and experience in managing integrity risks in operations. Strong project management knowledge and understanding of public financial management systems are also essential, along with excellent written and verbal communication skills in English.

Educational Background:
The position requires a master's degree in a relevant field, which may include accounting, public financial management, finance, or public policy. This educational background is crucial for understanding the complexities of financial management and public sector operations, as well as for engaging in high-level policy discussions and providing strategic advice to stakeholders.

Experience:
Candidates should have a minimum of 8 years of relevant professional experience in financial management, particularly in fiduciary risk management and public financial management. This experience should include working with government entities, international organizations, or similar institutions, where they have developed a deep understanding of financial systems, risk assessment, and compliance requirements.

Languages:
Proficiency in English is mandatory for this position, as it is the primary language of communication within the World Bank and for reporting purposes. While not required, knowledge of additional languages may be considered an asset, particularly if it pertains to the regions of Indonesia and Timor Leste, as it could enhance communication with local stakeholders and partners.

Additional Notes:
This position is a local recruitment opportunity with a term duration of 4 years. The World Bank offers a comprehensive benefits package, including a retirement plan, medical, life and disability insurance, and paid leave, including parental leave. The organization is committed to diversity and inclusion, ensuring equal opportunities for all employees regardless of gender, religion, race, ethnicity, sexual orientation, or disability. The role is full-time and based in Jakarta, Indonesia, with responsibilities that may involve travel within the region.