Consultant for Financial Management

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Position Title: Consultant for Financial Management
Location: Beijing
Country: China
Deadline Date: 12/02/2024

Job Details

Job Posting Organization:
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank established in 2016 to support the development of infrastructure and sustainable development in Asia. AIIB aims to foster economic growth and improve the quality of life in the region by providing financial resources for infrastructure projects. The bank operates with a mission to promote sustainable economic development and regional cooperation. AIIB has a diverse workforce and operates in multiple countries across Asia and beyond, focusing on projects that enhance connectivity and promote sustainable development.

Job Overview:
The Consultant for Financial Management will play a crucial role in supporting the Financial Management (FM) team within the Fiduciary Solutions Department (SFD) at AIIB. This position is designed for an individual who can assist in various FM tasks related to AIIB Financing Operations. The consultant will be expected to monitor legal covenants, maintain compliance data systems, and contribute to FM due diligence and implementation reviews under the guidance of FM specialists. The role requires a proactive approach to ensure that projects comply with legal requirements and that financial management practices are strengthened across the board. The consultant will also engage in capacity-building initiatives and support the FM team in research related to Public Financial Management and portfolio matters.

Duties and Responsibilities:
The consultant's duties will include maintaining an audit compliance database, updating the Audit Compliance Status for Sovereign Backed Financings and Trust Funds, and compiling data for regular audit compliance reports. The consultant will collaborate with the IMIS and ITD teams to enhance audit tracking functions and implement necessary system improvements. Additionally, the consultant will assist FM specialists in preparing audit waivers, reviewing audit reports, and providing guidance to Borrowers and Implementation Agencies regarding audit report submissions. The consultant will also contribute to FM assessments and implementation reviews, support capacity-building efforts, and perform other tasks as assigned by the FM team. The consultant will be responsible for establishing a detailed database for audit reports, maintaining a structured repository for FM-related documents, conducting data analysis on audit performance, and providing insights for various project reports.

Required Qualifications:
Candidates must have a minimum of 3 years of experience in audit and financial reporting, particularly in operations financed by Multilateral Development Banks (MDBs) or accounting firms. A strong understanding of International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), International Standards on Auditing (IAS), or International Standards of Supreme Audit Institution (ISSAI) is essential. The consultant should possess demonstrable analytical, organizational, and data management skills, with a keen attention to detail and problem-solving abilities in managing compliance data. Proficiency in oral and written communication in English is mandatory.

Educational Background:
The educational background required for this position includes either professional qualifications such as CPA or academic qualifications with a Bachelor’s degree or higher in accounting, auditing, finance, financial management, or a related field. This educational foundation is crucial for understanding the complexities of financial management and compliance in the context of international development projects.

Experience:
The position requires a minimum of 3 years of relevant experience in audit and financial reporting, particularly in the context of MDB financed operations or within accounting firms. This experience should include a solid understanding of financial compliance and reporting standards, as well as practical experience in managing financial data and compliance processes.

Languages:
Proficiency in English is mandatory for this position, both in oral and written communication. While English is the primary language required, knowledge of additional languages may be considered an asset but is not mandatory.

Additional Notes:
This consultancy position is expected to be full-time, with the consultant working closely with the Bank’s Financial Management Specialists. The role involves a collaborative approach to ensure compliance with legal covenants and effective management of audit and financial reports. The consultant may also be required to conduct training sessions on audit compliance for Borrowers and Implementing Agencies as needed. The position is based in Beijing, China, and the application deadline is set for December 2, 2024.