Background / General description:
The World Bank is looking for a Financial Management Specialist (FMS) who is a professional accountant (CPA, CA or equivalent), with a relevant bachelors degree in accounting, business, finance or economics, and at least 5 years of relevant experience in financial management (FM). Public sector experience would be an advantage.
The FMS will report to the Regional Financial Management Manager (RFMM) who is part of the core team Africa Region Operational Services Team in Washington, DC. The FMS will work from the World Bank Country Offices in Sierra Leone, and assist in all financial management (FM) aspects related to the World Bank’s lending operations to its clients. The FMS will perform as a member of the various Task Teams of the World Bank financed projects, and in addition lead special purpose initiatives.
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 2 year term appointment.
JOB TITLE: Financial Management Specialist
JOB FAMILY: Financial Management
JOB TYPE: Professional & Technical
LOCATION: Freetown, Sierra Leone
RECRUITMENT TYPE: Local Hire
LANGUAGE REQUIREMENT: English [Essential]
CLOSING DATE: 04-Jul-2013
Duties and Accountabilities:
The FMS is expected to assume the following duties and responsibilities:
• Assess the adequacy of the Borrower’s project financial management systems and their ability to manage and monitor World Bank financed projects. This includes budgeting, policies and procedures, internal controls, accounting, financial reporting and auditing;
• Carry out supervision work to ensure that projects financial management systems are functioning appropriately, including the review of periodic interim financial reports;
• Assess the selection and engagement of auditors, ensuring their suitability including their independence, and competence to perform; and ensure that the borrower provides auditors with all the relevant information (including Terms of Reference and Bank requirements) necessary to carry out their engagement;
• Review audited financial statements received, monitor the Borrower's compliance with financial covenants including audit compliance, ensure adequate communication with the Borrower and the project implementing agencies with respect to audits and advise as appropriate;
• Provide advice and support to Borrower and the World Bank Task Teams on matters affecting financial management;
• Provide financial management guidance for the development of technical assistance programs and evaluate and monitor their implementation;
• Provide guidance and advice to borrowers and Bank staff on capacity building in projects and with public sector accountability institutions;
• Assess the financial and operational viability of implementing entities (e.g. with respect to revenue earning entities), and to advise on the design and use of financial performance covenants;
• Monitor implementation of the agreed action on Public Financial Management, and provide technical advice to the Government in the implementation of reform actions;
• Complete/update country financial management strategy; and
• As requested by the RFMM, undertake other FM activities, as appropriate.
Budget Formulation and Execution - Able to perform assessments, provide advice and contributes to capacity building on budget formulation and execution processes at the project level.
Financial Management Information Systems - Has solid understanding of Financial Management Information Systems with ability to perform assessments, provide advice and contribute to capacity building on matters at the project level.
Internal Controls, Internal Audit, and Risk Management - Possesses ability to perform assessments, provide advice and contribute to capacity building on internal control and internal audit arrangements/reports at the project level.
Accounting and Financial Reporting - Has solid understanding of the individual IFRSs, IPSAS, or comparable national standards; performs assessments, provides advice and contributes to capacity building on accounting and financial reporting at the project level.
External Audit and Oversight - Able to perform assessments & contribute to capacity building on external audit arrangements at the project level, including terms of reference & content engagement letters for auditors of Bank funded operations for financial and performance audits.
Financial Management –Reforms/Development and Integration - Able to implement the Bank's Financial Management risk model at the project level; under senior staff guidance, performs assessments and contributes to capacity building on PFM reforms/regulations.
Bank Instruments, Policies, Procedures, and Systems - Fully familiar with Bank Instruments, Policies, Procedures and Systems (including safeguards, FM and procurement)
Portfolio Management (OS) - Analyzes and identifies portfolio cross-cutting issues; provides guidance to country/sector teams on quality of operations and portfolio performance.
Analytical and Technical Skills, Operational Strategy Development & Advice - Expertise in particular Bank Network recognized Sector or Theme
FM Sector Dialogue and Policy Advice - Possesses solid knowledge of financial sector including the core elements of a client sector policy, strategy and expenditure programs.
Operational Project Management - Demonstrates broad knowledge of project management tools & methodologies; identifies key risks and mitigation measures; interprets background analysis and proposed solutions.
Knowledge of FCS Context - Applies a foundational knowledge of fragility, conflict and violence to operations and analytical tasks including the impacts of violence and conflict, polarization of state-society relations, diminished client capacity, relevance of partnerships, etc.
FCS Behavioral Skills - Quickly adopts the mind-set needed for success in FCS settings: adaptability, resilience, determination, sound judgment, etc.
FCS Operational Skills - Implements a pragmatic approach to FCS operations. Avoids overly complex solutions in favor of approaches that are fit to FCS.
FCS Policies, Tools and Instruments - Has experience with at least two of the primary tools or instruments used in FCS settings: post-conflict needs assessment, transitional results framework, OP8.00 / OP7.30 / OP2.30, conflict assessments, political economy analysis, etc.
Client Orientation - Takes personal responsibility and accountability for timely response to client queries, requests or needs, working to remove obstacles that may impede execution or overall success.
Drive for Results - Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results, and has the personal organization to do so.
Teamwork (Collaboration) and Inclusion - Collaborates with other team members and contributes productively to the team's work and output, demonstrating respect for different points of view.
Knowledge, Learning and Communication - Actively seeks knowledge needed to complete assignments and shares knowledge with others, communicating and presenting information in a clear and organized manner.
Business Judgment and Analytical Decision Making - Analyzes facts and data to support sound, logical decisions regarding own and others' work.
The FMS should be a professional accountant (CPA, CA or equivalent) with preferably a Masters degree in accounting, business, finance or economics, and a minimum of 5 years of post-qualification experience in financial management. Also, the ideal candidates should have:
• Knowledge of International Accounting Standards and International Standards on Auditing;
• Experience and in-depth familiarity with public sector financial management (highly desirable);
• Experience with internal audit and internal control systems and procedures (including familiarity with COSO), with the ability to assess such systems and recommend remedial action where necessary;
• A good understanding of the review of financial statements including statements which link financial to non-financial information;
• Knowledge of Government Integrated Financial Management Information Systems (desirable)
• Experience in auditing, including assessing audit competence, and to the ability to analyze the impact of qualified audit reports and matters arising from management letters;
• Understanding of management information systems and the application of new information technologies;
• Capacity to function as a member of multi-disciplinary team, search for common ground, and where appropriate recommend decisive actions;
• Ability to communicate effectively, in writing and orally, in English and to negotiate substantive and difficult issues with senior government officials; and
• Demonstrated ability to deal with complex analytical and strategic work; process coordination; and interpersonal skills with the ability to work independently with the clients
The FMS should be willing to travel frequently.
Visit www.worldbank.org/careers, to apply