Full vacancy title: Principal Financial Management Operations Officer
Location: Nairobi. Kenya
Position Grade: LP4
Position Number: 50076504
Posting Date: 01-Aug-2024
Closing Date: 31-Aug-2024
THE BANK:
Established in 1964, the African Development Bank is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries).
The Bank’s development agenda is delivering the financial and technical support for transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth.
In order to sharply focus the objectives of the Ten Year Strategy (2024 – 2033) and ensure greater developmental impact, five major areas (High 5s), all of which will accelerate our delivery for Africa, have been identified for scaling up, namely; energy, agro-business, industrialization, integration and improving the quality of life for the people of Africa.
THE COMPLEX:
The Senior Vice-Presidency (SNVP) is responsible for supporting the President in the day-to-day management of the Bank Group to achieve its strategic objective and drive performance culture that will align all processes and systems to deliver high impact results.
The SNVP provides effective leadership and exceptional coordination to ensure implementation and monitoring of key corporate decisions as well as the identification of necessary corrective measures and actions. The SNVP leads Senior Management discussions, decision-making processes and the implementation of key Board and Management decisions.
THE HIRING DEPARTMENT:
The SNVP supervises the Fiduciary and Inspection Department (SNFI), which is a custodian of the Procurement and Financial Management (FM) profession and has the following responsibilities :
(i) developing and interpreting policy, strategy and related guidance notes and manuals;
(ii) preparing annual post review reports on the Bank’s FM and procurement operations for the Board; (iii) developing training strategy for internal and external clients; (iv) dialoguing with external and global partners with a view to building partnerships and fostering harmonization;
(v) providing the secretariat for the Procurement Review Committee (PRC); and
(vi) inspecting and reporting on the performance of procurement and FM activities undertaken by the regions.
The Principal Financial Management Operations Officer is responsible to ensure that financial management of Bank-financed projects are compliant with the Bank’s financial management policy. This is done by advising on financial management arrangements and reviewing financial management decisions within the project/program operations cycle from the identification to completion stages.
The incumbent also contributes to the preparation of the Bank’s Country Strategy Paper, and to building Public Financial Management (PFM) capacity of Borrowers which includes training of Borrower staff, advising on project related financial management matters, and assessing and strengthening the Borrower’s PFM systems.
The Principal Financial Management Operations Officer reports administratively to the Regional Operations Manager for Implementation Support (ROM-IS) and functionally to the Division Manager-Financial Management (SNFI.4).
THE POSITION:
The key responsibilities of the Principal Financial Management Operations Officer are:
- Ensuring quality and timely FM advice and providing support to projects activities, including: (i) quality of Financial Management (FM) activities in the region; (ii) timeliness of responses on all FM issues; and (iii) quality of advice to both Bank sector and Borrowers staff in countries covered by East Africa Regional Department;
- Executing the operations fiduciary function for the Bank in projects and programs that it finances , including through: (i) conducting country, sector and project level FM assessments and related capacity development action plans; (ii) providing FM-related support for country dialogue; (iii) supporting development of regional professional FM networks; and (iv) participating in donors coordination meetings in their areas for promoting better coordination and effective resources mobilization; and
- Contributing to capacity development of Bank and Borrowers’ FM staff, including (i) coaching, (ii) mentoring, (iii) training and (iv) upgrading of the skills.
KEY FUNCTIONS:
Under the oversight and guidance of the Division Manager, Financial Management and the direct technical supervision of the Regional Financial Management Coordinator, the Principal Financial Management Operations Officer will:
1. During the project/program preparation and appraisal cycle missions, assess the adequacy of the Borrower’s project financial management systems and their ability to manage and monitor Bank financed projects. This includes budgeting, internal control, treasury management, accounting, financial reporting and external auditing;
2. Attend negotiations and ensure Financial Management issues are taken into account in the financing agreement and other associated documentations;
3. Participate in project/program launching missions to assist the project/program team in developing capacity building of the Executing Agencies in the area of financial management;
4. Carry out supervision work to ensure that projects financial management systems are functioning appropriately, including the periodic review of project financial reports for financial performance;
5. 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;
6. Provide advice and support to Borrowers and the Bank Project Teams on matters affecting financial management and disbursement on capacity building in projects and with public sector accountability institutions;
7. Assess the selection and recruitment of external independent auditors, ensuring their suitability including their independence, and competence to perform;
8. Play an active role in Public Financial Management diagnostic work and reforms action plans;
9. Play an active role in Country Portfolio Performance Reviews (CPPRs) /Country Strategy Paper (CSPs) from the financial management perspective and draft the FM sections of the CPPR/CSP report;
10. Undertake Financial Management Capacity building in Regional Member Countries and sector departments in the Bank;
11. Play an active role in departmental or institutional task forces on developing and implementing changes to financial management policies and practices, fiduciary safeguards and the efficiency and effectiveness of business processes;
12. Participate in donor coordination meetings and in country dialogue platforms between the country and the donors on the basis of the overall Bank’s strategy to support aid effectiveness;
13. Participate in fiduciary clinics; and
14. Undertake other activities, as appropriate, as requested by the Manager, Financial Management.
COMPETENCIES (skills, experience and knowledge):
1. Hold a Master’s degree in accounting, finance, business administration, economics or a related discipline and a professional accounting certification (CPA, CA, ACCA, Expert Comptable);
2. Have a minimum of five (6) years of relevant experience, with particular expertise in designing and supporting financial management operations of which at least three (3) in international financial Institutions;
3. Experience in supporting financial management private sector operations would be an added advantage;
4. An understanding of cross-cutting issues beyond financial management (e.g. procurement, governance, donors’ practices) at sector/country level;
5. Expert knowledge of International Financial Reporting Standards (IFRSs), International Public Sector Accounting Standards (IPSASs), International Standards on Auditing (ISA), and International Standards of Supreme Audit Institutions (ISSAIs);
6. Proven ability to implement country or sector level financial management analytical and capacity building initiatives;
7. Strong planning, organization, and time management skills;
8. Excellent analytical skills;
9. Ability to be flexible, open-minded with integrity, client and results oriented for achieving both Bank’s and Borrowers’ objectives;
10. Ability to work as part of a team, maintain effective and cooperative relations with sector specialists, national authorities as well as donors, and handle sensitive issues with discretion in a multicultural environment;
11. Ability to communicate effectively (written and oral) in English or French with a working knowledge of the other language; and
12. Competence with standard MS Office software (Word, Excel, PowerPoint), preferably combined with knowledge and experience of SAP operations.
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To apply for this position, you need to be national of one of AfDB member countries.
Applicants who fully meet the Bank’s requirements and are considered for further assessment will be contacted. Applicants should submit a concise Curriculum Vitae (CV) and any additional documents that may be stated as required. The President of the African Development Bank reserves the right to appoint a candidate at a lower level. The African Development Bank is an equal opportunities employer. Female candidates are strongly encouraged to apply. http://www.afdb.org
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