Financial Management Specialist

Job Description - (Senior) Financial Management Specialist (250289)

Join Our Mission to Foster Prosperity in Asia

Are you ready to make a lasting impact 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 (Senior) Financial Management Specialist is assigned to the Financial Management Division (PFFM) within the Procurement, Portfolio and Financial Management Department. You will be based at our Headquarters in Manila, Philippines.

You will report to Director, PFFM and will oversee junior team members and consultants as required.

Your Role

As a (Senior) Financial Management Specialist, you will lead in providing technical guidance and advice, knowledge sharing, and capacity building to support the department's project financial management and financial due diligence (FDD) function to ensure high standards for ADB's overall financial management performance.

You will:

1. Provide technical guidance, information, analysis and advice on financial management and FDD issues in sovereign operational activities following relevant ADB policies and instructions.
2. Support the continuous implementation of financial management guidelines and procedures (consistent with ADB's guidelines) for review of Audited Project Financial Statements and Audited Entity Financial Statements (APFS/AEFS), monitoring and quality improvement.
3. Advise sovereign operations and Resident Missions (RMs) in the development of strategies for financial management in the relevant Developing Member Countries (DMCs).
4. Provide technical guidance as member of sovereign operations' project teams on financial due diligence work by:
5. Support/lead the conduct of financial management assessments of executing and implementing agencies, including: (a) assessing whether previous financial management assessments have been conducted by ADB or other agencies and, if so, reviewing the results and ascertaining whether these can be used as input; (b) assessing capacity for planning and budgeting, management and financial accounting, reporting, auditing, internal controls, and information systems; (c) reviewing proposed disbursement and funds-flow arrangements; and (d) concluding on the financial management risk rating and identifying and confirming measures for addressing identified deficiencies;
6. Support the preparation and agreement of cost estimates and a financing plan, which are based on verifiable data and are enough to support project implementation;
7. Support/lead the preparation of financial projections and conducting financial analyses of the executing and implementing agencies, and incremental recurrent costs, to determine financial sustainability, and reviewing proposed cost-recovery and tariff policies, including affordability;
8. Support/lead the conduct of financial evaluations (financial cost-benefit analyses) including sensitivity analyses of project components that have a full cost-recovery objective to assess project financial viability;
9. Propose mitigation measures to be incorporated in financial covenants when significant risks are identified to project or entity financial sustainability or viability; and
10. Assess and reach agreement on financial reporting, auditing and public disclosure arrangements for the project, and, identifying and agreeing arrangements for receiving financial statements from executing or implementing agencies.
11. Respond to financial management issues during management and staff review meetings.
12. Participate in project preparation and/or review missions responsible for financial issues in the processing and implementation of projects and help resolve problems.
13. Conduct/supervise the review of APFS/AEFS for sovereign projects following the internal review process; provide guidance on quality issues in APFS/AEFS and project implementation matters disclosed in the reports.
14. Ensure compliance with ADB's financial management and audit requirements by reviewing, validating and evaluating implementation status of audit recommendations.
15. Ensure quality control of financial management inputs in the operational and non-operational documents, and of project documents concerning financial management.
16. Ensure quality control of sovereign operations' reports, briefings and presentations on APFS, AEFS and other financial management related matters.
17. Assess, design and/or implement stand-alone and technical assistance related financial management capacity building programs for borrowers, executing and implementing agencies, supreme audit institutions, private sector auditors, and financial management staff.
18. Undertake knowledge sharing activities and regular communications with team members within and outside ADB to stay informed about the latest developments in international and national financial management and analysis practices.
19. Participate in meetings of the Multilateral Development Banks' Heads of Financial Management forum, forums of development partners with the International Federation of Accountants and the International Organization for Supreme Audit Institutions.
20. Take the role of mission leader and oversee the work of mission members and consultants.
21. Supervise the performance of reporting staff and ensure ongoing learning and development.

You will need:

1. University degree in Business, Finance, Commerce, or related fields; preferably at post-graduate level or its equivalent.
2. Professional qualification in accounting (e.g., CPA, CA, ACCA) from an internationally recognized institution (e.g., IFAC) is mandatory. A CFA qualification is an advantage.
3. At least 6 years of relevant professional experience in private sector or public sector financial management (i.e., accounting, budgeting, auditing), or related area.
4. International experience working in several countries, preferably ADB's DMCs.
5. Demonstrated experience leading projects and conducting knowledge sharing sessions.
6. Excellent verbal and written communication skills in English.
7. Able to mentor team members, providing guidance on delivery of services.

Benefits

ADB offers competitive compensation and a comprehensive benefits package. The salary will be based on ADB's standards and comparator markets, considering your qualifications and experience.

• Paid leave (including parental)
• Medical and health benefits
• Life and other insurance plans
• Staff development
• Retirement plan
• Housing and education allowance (if applicable)
• Expatriate benefits (for international staff)

About Us

Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 69 members, 49 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.

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.