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. Founded in 1966, ADB has grown to include 69 member countries, with 49 of them from the Asia and Pacific region. The organization is headquartered in Manila, Philippines, and employs a diverse workforce dedicated to alleviating poverty and promoting sustainable development. ADB's mission is to create a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while also working towards the eradication of extreme poverty. ADB combines finance, knowledge, and partnerships to achieve its goals, particularly under its Strategy 2030 framework, which aims to address the region's most pressing challenges. ADB is committed to fostering an inclusive work environment and encourages applications from all qualified candidates, regardless of their background.

Job Overview:
The Financial Control Assistant position is situated within the Loan and Grant Disbursement Section of the Controller's Department at ADB. This role is crucial for ensuring the effective processing and management of loan and grant withdrawal applications. The successful candidate will be responsible for reviewing and processing various financial documents, including applications for advance accounts, reimbursements, commitment letters, and direct payments. The Financial Control Assistant will play a key role in coordinating administrative activities related to loan and grant disbursement, ensuring compliance with ADB's policies and regulations. This position requires a keen eye for detail and a strong understanding of financial processes, as the assistant will monitor loan and grant accounts, prepare disbursement documentation, and assist in the preparation of correspondence related to disbursement matters. The role also involves collaboration with other team members and contributing to innovation projects, making it a dynamic and impactful position within the organization.

Duties and Responsibilities:
The Financial Control Assistant will have a comprehensive set of responsibilities, including but not limited to: processing withdrawal applications for loans and grants under ADB's public sector and co-financed projects; critically reviewing withdrawal applications to ensure compliance with disbursement procedures and ADB policies; preparing disbursement or journal vouchers and other relevant documentation; monitoring loan and grant accounts, including the operation of statement of expenditures (SOE) and advance fund procedures; reviewing expenditures disbursed under the SOE procedure using statistical sampling methodology; preparing internal and external correspondence on disbursement-related matters for supervisor review; assisting and collaborating on other areas of the division as needed; contributing to innovation projects; and performing additional tasks as assigned in the workplan.

Required Qualifications:
Candidates for the Financial Control Assistant position must possess a Bachelor's degree in accounting, Business Administration, or Finance, along with a Certified Public Accountant (CPA) qualification. Additionally, applicants should have at least 5 years of relevant work experience in disbursement, project administration, or professional experience in accounting and auditing within a computerized environment. Experience in a supervisory role within a large organization is preferred. Candidates should also have a solid understanding of accounting practices, internal control concepts, and business processes, particularly in a multilateral institution. Strong interpersonal skills and the ability to resolve issues effectively are essential, as is proficiency in various software applications, including MS Word, MS Excel, MS Teams, Outlook, PowerPoint, SharePoint, and large accounting software such as Oracle ERP.

Educational Background:
The educational background required for the Financial Control Assistant position includes a Bachelor's degree in accounting, Business Administration, or Finance. A Certified Public Accountant (CPA) qualification is mandatory, indicating a high level of expertise in financial matters and accounting principles. This educational foundation is crucial for the candidate to effectively perform the duties associated with loan and grant disbursement and to ensure compliance with ADB's financial regulations and policies.

Experience:
The position requires a minimum of 5 years of relevant work experience in disbursement, project administration, or accounting and auditing. Candidates should have experience working in a computerized environment and should have held some supervisory responsibilities in a large organization. Familiarity with accounting practices, internal control concepts, and the operational procedures of multilateral institutions is highly desirable. The candidate should also have experience in maintaining sound internal controls and assessing risks related to financial reporting, which is critical for the role.

Languages:
Proficiency in English is mandatory for this position, as the candidate will need to communicate effectively in both written and verbal forms. Strong communication skills are essential for preparing correspondence and collaborating with team members. While English is the primary language required, knowledge of additional languages may be considered an asset but is not mandatory for this role.

Additional Notes:
This position is classified as a local staff role and is open only to nationals and residents of the Philippines. The appointment is funded by a temporary funding source, which means that the renewal of the appointment and its duration are contingent upon the availability of this funding. The initial contract is for a fixed term of three years, with the possibility of renewal based on performance and funding availability. It is important to note that this appointment is not convertible to a regular appointment, and there is no limit on the number of renewals. The position offers competitive compensation and a comprehensive benefits package, including paid leave, medical and health benefits, life and other insurance plans, staff development opportunities, a retirement plan, and housing and education allowances if applicable.