Senior Financial Control Specialist

Job Posting Organization:
The Asian Development Bank (ADB) is an international development finance institution established to foster economic growth and cooperation in the Asia-Pacific region. Founded in 1966, ADB is headquartered in Manila, Philippines, and comprises 69 member countries, with 50 of them from the Asia and Pacific region. ADB's mission is to alleviate poverty and promote sustainable development through financial assistance, knowledge sharing, and partnerships. The organization employs a diverse workforce dedicated to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while also focusing on eradicating extreme poverty. ADB operates in various countries across the region, providing support for projects that enhance economic development and improve living standards.

Job Overview:
As a Senior Financial Control Specialist at ADB, you will play a crucial role in establishing and maintaining robust internal control systems to ensure that all financial transactions are accurately recorded in accordance with ADB's procedures. Your responsibilities will include overseeing junior team members and collaborating with various departments to ensure compliance with accounting standards. You will be tasked with conducting assessments of internal controls in ADB's Field Offices, implementing new systems, and enhancing existing processes to ensure efficient operations. Additionally, you will contribute to the preparation of financial statements and oversee trust fund accounting, ensuring that funds are utilized as intended and financial reports are prepared accurately and timely. This position requires a proactive approach to risk assessment and control implementation, as well as strong leadership skills to guide and develop junior staff.

Duties and Responsibilities:

• Field Offices Accounting and Controls Oversight: Conduct reviews and assessments of internal controls in ADB's Field Offices, evaluate risks in financial processes, and oversee testing of internal controls over administrative expenses and capital expenditures. Collaborate with other departments to ensure comprehensive risk assessment control implementation and provide essential accounting support for Field Offices.
• Systems and Procedures: Implement new systems and enhance existing ones, coordinating system and business processes for efficient operations. Oversee system accuracy and collaborate with ITD for necessary changes, recommending improvements to ensure compliance with US GAAP.
• Financial Statements/Reports: Contribute to the preparation of financial statements in accordance with US GAAP, overseeing junior staff in analyzing data and ensuring accuracy, consistency, and compliance with established policies.
• Trust Fund Accounting: Oversee trust and donor funds, ensuring they are used as intended and assets are safeguarded. Prepare financial reports in compliance with agreements and accounting principles.
• Staff Management: Provide leadership and support to reporting staff, supervising their performance, offering clear directions, and providing regular feedback. Ensure ongoing learning and development for staff, guiding them on internal controls and good practices.
• Client Relations and Knowledge Sharing: Stay updated on accounting industry developments and provide guidance on their implementation within ADB. Represent CTL in working groups, contributing to discussions on internal controls and process enhancements.
• Other Responsibilities: Undertake additional responsibilities as assigned and reflected in your work plan.

Required Qualifications:
To qualify for this position, candidates must possess a Master's degree in accounting, finance, business, or a related field, or a University degree with internationally recognized professional qualifications such as Certified Public Accountant (CPA) or Chartered Accountant (or equivalent). Candidates should have at least 5 years of specialized experience relevant to the position, with a minimum of 10 years of relevant experience in accounting and control processes within the banking or financial services sector or international financial institutions. International experience working in multiple countries is essential, along with familiarity with US GAAP or International Financial Reporting Standards. Proficiency in internal control over financial reporting, knowledge of the COSO Framework, and experience with Enterprise Resource Planning systems are also required. Candidates should demonstrate experience in coaching and leading teams, as well as coordinating with client groups.

Educational Background:
Candidates must have a Master's degree in accounting, finance, business, or a related field. Alternatively, a University degree in related fields along with internationally recognized professional qualifications such as CPA or Chartered Accountant (or equivalent) is acceptable. This educational background is essential to ensure candidates have the necessary knowledge and skills to perform the complex financial tasks required in this role.

Experience:
Candidates should have at least 10 years of relevant experience in accounting and control processes, particularly within the banking or financial services sector or international financial institutions. This experience should include international exposure, demonstrating the ability to work effectively in diverse environments. Additionally, candidates should have experience with US GAAP or International Financial Reporting Standards, as well as proficiency in internal control over financial reporting and familiarity with the COSO Framework. Experience in quality assurance or audit is advantageous, as is the ability to apply and share relevant knowledge to benefit the broader ADB community.

Languages:
Written and verbal proficiency in English is mandatory for this position. Candidates should be able to communicate effectively in English, as it is the primary language used within ADB. Additional language skills may be considered an asset, particularly if they relate to the regions in which ADB operates, but English proficiency is essential for all candidates.

Additional Notes:
This position is a fixed-term appointment for an initial period of 3 years, with the possibility of extension for up to 2 additional years, conversion to a regular appointment, or termination at the expiration date based on ADB's needs and the staff member's performance. Selected applicants will be subject to a one-year probationary period. ADB offers a competitive salary and comprehensive benefits package, including housing and education allowances (if applicable), expatriate benefits (if applicable), retirement plans, medical and health benefits, paid leave (including parental leave), life and other insurance plans, and opportunities for staff development. ADB is committed to creating an inclusive environment and encourages all qualified candidates to apply, regardless of their background.