Financial Management Specialist

Job Posting Organization:
The World Bank is a prominent global institution established to provide financial and technical assistance to developing countries. Its mission is to end extreme poverty and promote shared prosperity by providing funding, knowledge, and expertise to help countries address their development challenges. With 189 member countries and over 120 offices worldwide, the World Bank operates in various sectors, including financial management, education, health, and infrastructure. The organization collaborates with public and private sector partners to invest in projects that aim to improve living standards and foster sustainable development. The World Bank's South Asia Region, which includes countries like Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka, is currently facing significant development challenges, including poverty, exclusion, and environmental issues. The organization is committed to addressing these challenges through innovative solutions and partnerships.

Job Overview:
The Financial Management Specialist (FMS) position at the World Bank involves supporting the organization's financial management functions within the Governance Global Practice (GGP) in Bangladesh. The FMS will play a crucial role in delivering high-quality financial management services, which include project preparation and implementation support for Bank-financed operations. The position requires collaboration with partner countries to enhance their public financial management (PFM) performance and capacity. The FMS will also be responsible for advancing professional accountancy institutions and improving corporate financial reporting standards. This role is vital for ensuring that financial resources are managed effectively and transparently, contributing to the overall development goals of the region. The FMS will work closely with project staff, government officials, and other stakeholders to build capacity and promote accountability in financial management practices.

Duties and Responsibilities:
The Financial Management Specialist will have a diverse set of responsibilities, including: assessing financial management arrangements for new and ongoing projects to ensure compliance with World Bank standards; providing implementation support and supervision for projects financed by loans and grants; delivering capacity-building support to project staff within client governments; conducting capacity-building activities in collaboration with the Governance team; contributing to the development of policy and thematic notes; advising clients on innovative approaches to strengthen fiduciary assurance; leveraging knowledge in public sector financial management to support partner countries; and ensuring that funds are utilized effectively and efficiently. The FMS will also be involved in evaluating financial management systems, including budgeting, accounting, cash management, internal audit, financial reporting, and external auditing, to ensure robust oversight and compliance with established standards.

Required Qualifications:
Candidates must possess a professional accountancy qualification such as CA, ACCA, CPA, or CIMA, and be a member of a recognized Professional Accountancy Organization accredited by the International Federation of Accountants (IFAC). A minimum of five years of post-qualification experience in auditing or financial management is required, with a preference for candidates with experience in public sector financial management. Additionally, candidates should have a Master's degree in accounting, business, finance, economics, or a related field from a recognized university. Proficiency in written and spoken English is essential, along with strong communication skills for preparing reports and engaging with stakeholders. Candidates should also demonstrate extensive experience in evaluating financial management systems and possess strong analytical skills.

Educational Background:
The educational background required for this position includes a Master's degree in accounting, business, finance, economics, or a related field from a recognized university. This advanced degree is essential for understanding complex financial management concepts and practices, which are critical for the role of Financial Management Specialist.

Experience:
The position requires a minimum of five years of post-professional accountancy qualification experience in auditing or financial management. Candidates with experience in public sector financial management will be preferred, as this experience is crucial for understanding the unique challenges and requirements of managing financial resources in the public sector.

Languages:
Proficiency in written and spoken English is mandatory for this position, as strong communication skills are essential for preparing clear reports and coordinating with international teams. While English is the primary language required, knowledge of additional languages may be considered an asset, particularly if it facilitates communication with local stakeholders.

Additional Notes:
This position is a local recruitment appointment for a term duration of three years. The World Bank Group 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, gender identity, religion, race, ethnicity, sexual orientation, or disability. The role is full-time, and the World Bank encourages applications from qualified candidates who meet the specified criteria.