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  • Field Disbursement Officer - Regional Hub at Islamic Development Bank

  • Posted on: 17 October, 2018 Deadline: 18 November, 2018
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  • The Islamic Development Bank (IsDB) is a multilateral development bank (MDB) which funds its projects and other developmental activities using Islamic finance. Hence, the name “Islamic”. Founded in 1975, the IsDB is headquartered in Jeddah, the Kingdom of Saudi Arabia. The purpose of the Bank is to foster economic development and social progress of its member countries.

    Field Disbursement Officer - Regional Hub

     

    Business Unit: Finance Complex
    Division: Dues & Disbursements
    Department: Financial Control Department

    Job Purpose

    • Review and verify operational disbursement requests and documentation in regional hub in coordination with project management unit or equivalent agency.
    • Determine whether the disbursement request should be approved, reduced or rejected in accordance with Bank’s policies and procedures.
    • Allocate disbursement commitments to relevant contract and ensure timely completion of the disbursement.
    • Maintain accurate and complete records relating to regional hub’s project accounting activities, coordinate with respective parties for resolution of disbursement related problems. Provide support to negotiations, mission preparation, and disbursement workshops.

    Key Accountabilities (not exhaustive list)
    Dues and Disbursement Management:

    • Process disbursement requests from project management unit or equivalent agency in the regional hub to verify and determine the appropriateness of requests and supporting documents for the disbursement in accordance with Bank’s policies and procedures
    • Liaise with regional hub management and executing agencies and borrowers, in the resolution of disbursement related problems
    • Draft clear and concise correspondence to project management unit or operational staff regarding disbursement related issues
    • Monitor utilization of Special Accounts, ensuring that the funds are properly accounted for and used in accordance with Bank procedures
    • Participate in project missions to verify use of project finances and resolve disbursement issues
    • Participate in technical discussions and new project negotiations to ensure that disbursement arrangements are compliant with Bank’s disbursement policies
    • Prepare periodic reports on disbursement activities and disbursement projections for the regional hub for management
    • Maintain reliable and timely financial records for project accounting and reporting on the performance of the portfolio with special focus on approval, disbursements, cancellations and recoveries in the regional hub
    • Participate in reconciliation of project balances and issuance of project statements to Member Countries (i.e. reconciling borrowers’ and the bank’s records)
    • Prepare and update repayment schedules, prepare billing statements and track the repayment of amounts due and overdue in the regional hub

    Financial Analysis:

    • Perform specific analyses of financial or operating data and submit recommendations for consideration of management
    • Analyze the current projects status and identify any problem areas that warrant attention of the concerned departments
    • Participate in standard and ad hoc analyses to meet variety of management objectives

     Policies, Processes & Procedures:

    • Participate in drafting policies and procedures as per management instructions
    • Provide guidance on interpretation of IDB policies and procedures, and regulations applicable to operations financing in regional hub
    • Analyze and identify gaps and suggest improvements to policies or procedures for more effective operations

    Reporting & Communication:

    • Prepare ad-hoc reports as and when required by management

    Job Requirements
    Academic qualifications:

    • Bachelor’s degree in Accounting, Finance, Economics, Business Administration or related field is required
    • CPA, ACCA, CMA or an equivalent certification is preferred

    Languages:

    • English (mandatory)
    • French (mandatory)

    Minimum number of years and nature of experience:

    • 4-6 years of relevant experience in finance and accounting
    • ERP, procurement and audit experience is preferred

    Job specific competencies:

    • Adaptability
    • Building Relationships
    • Client Centricity and Responsiveness
    • Motivation to Learn and Share
    • Passion for Excellence
    • Analytical Thinking
    • Communication Effectiveness
    • Drive for Results
    • Knowledge, Learning and Communication
    • Problem Solving
    • Stakeholder Management / Client Orientation
    • Teamwork
    • Bank Knowledge
    • Financial Analysis
    • Financial Management
    • Financial Reporting
    • Accounting
    • Project Management
    • Project Documentation

    Method of Application

    Interested and qualified? Go to Islamic Development Bank career website on www.isdbcareers.com to apply

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