ICFR Consultant

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Position Title: ICFR Consultant
Location: Beijing
Country: China
Deadline Date: 12/20/2024

Job Details

Job Posting Organization:
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank established to support the development of infrastructure in Asia. Founded in 2016, AIIB aims to foster sustainable economic growth and improve the quality of life in the region. The bank has a diverse workforce and operates in multiple countries, focusing on projects that enhance connectivity and promote economic development. AIIB is committed to upholding high standards of governance and accountability in its operations.

Job Overview:
The ICFR Consultant will play a crucial role in supporting the Office of the Controller at AIIB by performing a variety of tasks related to the establishment, maintenance, and testing of internal controls that support financial reporting. The consultant will work closely with process and control owners to ensure that key controls are current and effective. The primary objective of this position is to assist the Controller’s team in conducting internal control testing over financial reporting, thereby ensuring compliance with established standards and enhancing the overall financial governance of the organization. The consultant will also be involved in promoting a culture of risk ownership and control awareness within the organization, which is essential for maintaining the integrity of financial reporting processes.

Duties and Responsibilities:
The ICFR Consultant will have a wide range of responsibilities, including but not limited to: assisting in the administration of the internal financial control framework and procedures to ensure the effectiveness of internal controls over financial reporting; implementing relevant directives, guidelines, and procedural documents related to internal control; maintaining the Risk and Control Matrix library; ensuring the adequacy of key control design effectiveness, including IT control and security" style="border-bottom: 1px dotted #007bff !important;">security areas; conducting scheduled testing of key controls; reporting testing results to the Executive Committee and the Audit and Risk Committee; participating in the testing and implementation of the ICFR Sandbox and Governance, Risk, and Compliance system; and engaging in other duties as assigned by senior staff of the Office of the Controller. The consultant will be expected to collaborate with various stakeholders to ensure that internal controls are robust and effective, thereby contributing to the overall financial health of the organization.

Required Qualifications:
Candidates must possess a minimum of 2 years of relevant experience working with a multilateral development bank and/or a large-scale financial institution. They should be strategic problem solvers with a solid understanding of internal control over financial reporting. Familiarity with the COSO and ICFR frameworks is essential. The ability to multitask and manage competing deadlines is crucial, as is fluency in both oral and written English. Strong communication skills and the ability to work effectively as part of a team are also required. Candidates must demonstrate the ability to adhere to strict deadlines and possess a degree or equivalent in accounting and/or finance. A Chartered Accountant (CA) or Certified Public Accountant (CPA) designation from a reputable and internationally recognized institution would be considered an advantage.

Educational Background:
The educational background required for this position includes a degree or equivalent in accounting and/or finance. Candidates with a Chartered Accountant (CA) or Certified Public Accountant (CPA) designation from a reputable and internationally recognized institution will have an advantage in the selection process. This educational foundation is critical for understanding the complexities of financial reporting and internal controls, which are central to the role of the ICFR Consultant.

Experience:
The position requires a minimum of 2 years of relevant experience, particularly in roles associated with multilateral development banks or large-scale financial institutions. This experience should encompass a solid understanding of internal controls and financial reporting processes, as well as practical experience in implementing and testing these controls. Candidates should demonstrate their ability to navigate complex financial environments and contribute to the enhancement of internal control frameworks.

Languages:
Fluency in oral and written English is mandatory for this position. Strong communication skills are essential for effectively collaborating with team members and stakeholders. While English is the primary language required, proficiency in additional languages may be considered a plus, particularly if it enhances communication with diverse teams or stakeholders in the region.

Additional Notes:
The ICFR Consultant position is preferred to be based at AIIB's headquarters in Beijing, although remote work options will be considered. The organization will provide all necessary IT and tools required for the role. Additionally, a travel/living stipend will be provided for the consultant while in Beijing, with airfare paid directly by AIIB. Ground transportation will be reimbursed according to AIIB allowance rates, and meals and accommodation will be provided as a lump sum determined at the time of contracting. The lump sum amounts will be pro-rated based on the number of calendar days the consultant is onsite. Knowledge transfer will be expected at the time of delivery of the outputs, ensuring that the consultant's expertise is shared with the team.