Description
Join Our Mission to Foster Prosperity in Asia
Are you ready to make a difference on the future of Asia and be a catalyst for positive change? We are thrilled to offer a unique opportunity to become an important part of the prestigious Asian Development Bank (ADB). At ADB, our mission is simple yet powerful: to alleviate poverty and promote sustainable development in the Asia-Pacific region.
Organizational Setting and Reporting Relationship
The position of Associate Financial Management Officer is assigned to the Public Financial Management Division (PFFM) within the Procurement, Portfolio and Financial Management Department (PPFD). You will be based at our Philippine Country (PHCO) office in Manila, Philippines.
You will report to Director, PFFM and/or designated International Staff and have a matrix reporting line to the Country Director, Philippines (PHCO).
Your Role
As an Associate Financial Management Officer, you will: (a) provide operational services in conducting financial due diligence of projects during processing and supervision during implementation; (b) support country FM assessments and FM systems strengthening projects; and (c) coordinate the development and delivery of knowledge sharing and capacity building support.
Though the position is based in Manila, Philippines, you can be assigned to work on tasks in other developing member countries of ADB as needed.
You will:
a. Operational services
- Lead: (i) Review of audited project and entity financial statements (APFS and AEFS) for all assigned projects following ADB's internal review guidelines including updating automated review checklists, monitoring and quality improvement; and (ii) FM support to project teams to communicate with executing agencies on issues identified in the APFS and AEFS, including compliance with financial covenants.
- Analyze noncompliance or delayed compliance with APFS and AEFS submission, and quality, common issues and deficiencies in APFS and AEFS and summarize these and expected actions in a regular report.
- Diligently follow up with project teams and executing agencies to achieve compliance with ADB FM requirements.
- Monitor the follow-up actions identified from APFS and AEFS review or other related actions and verify project related information to assist APFS and AEFS review.
- Facilitate and participate in project review missions to help resolve problems related to project financial management.
- Input and update project data and records in ADB information systems and databases.
- Monitor the assigned projects' compliance with financial covenants in the legal agreements and coordinate with project teams to follow up on achieving compliance.
- Monitor the implementation of financial management action plans and communicate with EAs and IAs to resolve issues related to compliance along with the project team leader.
- Lead, and/or participate in, the financial due diligence work for project processing in the:
- conduct a financial management assessment of the EAs/IAs, including: (i) ascertaining whether previous financial management assessments have been conducted by ADB or other agencies and, if so, reviewing the results and determining whether these can be updated for the project; (ii) assessing capacity for planning and budgeting, management and financial accounting, reporting, auditing, internal controls, and information systems; (iii) reviewing proposed disbursement and funds-flow arrangements; and (iv) concluding on the financial management risk rating and identifying and confirming measures for addressing identified deficiencies;
- preparation and agreement of cost estimates and a financing plan, which are based on verifiable data and are sufficient to support project implementation in collaboration with technical team members;
- prepare financial projections and conducting financial analyses of the EAs/IAs, and incremental recurrent costs, to determine financial sustainability, and reviewing proposed cost-recovery and tariff policies, including affordability;
- conduct financial evaluations (financial cost-benefit analyses) including sensitivity analyses of project components that have a full cost-recovery objective;
- develop risk mitigation measures to be incorporated in financial covenants where significant risks are identified to project financial sustainability or viability; and
- assessment and achievement of agreement on financial reporting, auditing and public disclosure arrangements for the project, and identifying and agreeing arrangements for receiving financial statements from EAs/IAs.
b. Country FM Systems
- Participate as a team member for preparation of country or regional partnership strategy, governance risk assessments, or country public financial management assessments (e.g., public expenditure and financial accountability assessments).
- Review country FM systems and monitor changes related to project financial management, audit, taxation, and other finance-related areas, and update country management and staff on any changes that may affect project implementation and performance.
c. Knowledge management
- Participate in and contribute to internal and external training and conferences and other activities for advocacy, distribution, and knowledge building on FM.
- Support the implementation of stand-alone and technical assistance related FM capacity building programs for clients.
- Train staff of ADB and executing agencies.
d. Other tasks
- Other tasks as assigned and reflected in the incumbent's workplan.
Qualifications
You will need:
- Bachelor's degree in Accounting, finance, or a related field preferably with advanced training.
- Professional qualification in accounting (e.g. CPA, CA) from an internationally recognized institution (e.g., IFAC). A CFA qualification is an advantage.
- At least 5 years of relevant professional experience in private or public sector financial management (i.e., in accounting, budgeting, auditing)
- Experience with (a) investment project appraisal, and (b) appraisal processes of financial institutions including multilateral development banks for sovereign and non-sovereign transactions is an advantage
- Advanced and broad knowledge of all aspects of FM, including: (i) International Financial Reporting Standards, International Public Sector Accounting Standards, and International Standards on Auditing and/or national equivalents; (ii) experience with internal control systems and procedures (in particular the Committee of Sponsoring Organizations framework); (iii) experience in auditing including assessing auditors' competence; and (iv) experience in advising clients on the design and implementation of FM systems, including financial and management reports.
- Show proficiency in managing tasks independently; areas of analysis and research, which have well-defined scope and steps.
- Proficient in expressing ideas clearly in both spoken and written formats in English. Excellent written (including report-writing).
- Able to synthesize information into coherent concepts and strategies.
- Ability to liaise and work effectively with government officials.
- Ability to guide administrative staff to facilitate work planning, delivery and quality review.
- Strong planning, organizational and administrative skills.
- Proficiency in MS Word, MS Excel, MS PowerPoint; familiarity with database management tools.
- Ability to work collaboratively with teams as a constructive team member.
- Please refer to the link for ADB Competency Framework for Technical Local staff level 4.
Benefits
ADB offers a rewarding salary and a comprehensive benefits package. The salary will be based on ADB's standards and comparator markets, taking into account your qualifications and experience.
- Housing and education allowance (if applicable)
- Expatriate benefits (if applicable)
- Retirement plan
- Medical and health benefits
- Paid leave (including parental)
- Life and other insurance plans
- Staff development
Additional Information
This appointment is open to internal and external applicants.
This opening is a local staff position. It is open only to nationals and permanent residents of the Philippines.
This is a fixed term appointment with option to renew, initially for a period of up to 3 years, or up to the Normal Retirement Date (NRD), whichever comes earlier, for the purpose(s) and conditions determined by ADB, in accordance with Administrative Order No. 2.01 (Recruitment and Appointment). After the initial fixed-term period, ADB may choose to renew the appointment for up to an additional 3 years or not renewed. This decision will be made in the overall interest of ADB, based on factors including but not limited to the requirement of Staff's particular blend of skills and experience for the medium-term work program of the organizational unit, sufficient funding to cover the renewed period, and Staff's performance and suitability for employment. There is no limit to the number of renewals up to NRD. However, this appointment is not convertible to a regular appointment.
About Us
Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 69 members, 50 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under our Strategy 2030.
ADB only hires nationals of its 69 members.
To view ADB Organizational Chart, please click here.
ADB wants to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply.
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