Senior Financial Management Officer at African Development Bank
- Company: African Development Bank
- Location: Tanzania
- State: Dar Es Salaam Jobs
- Job type: Full-Time
- Job category: Banking Jobs in Tanzania
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 81 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 (2013 – 2022) and ensure greater developmental impact, five major areas, 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 Bank is seeking to build a management team that will lead the successful implementation of this vision.
The Senior Vice-Presidency is responsible for supporting the President in the day-to-day management of the Bank Group to achieve it strategic objective, and drive performance culture that will align all processes and systems to deliver high impact results. The Senior Vice-Presidency will provide 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 Senior Vice-Presidency will lead senior management discussions, decisions-making process and the implementation of key Board and Management decisions.
THE HIRING DEPARTMENT:
The Senior Vice-Presidency supervises the Fiduciary and Inspection Department (SNFI), which is a custodian of the procurement (including procurement for private and public partnership) Financial Management 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 Financial Management 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 Financial Management activities undertaken by the regions.
The Senior Financial Management 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 Senior Financial Management Officer reports administratively to the Country Manager of Tanzania Office and functionally to the Division Manager-Financial Management (SNFI.4).
The key responsibilities of the Senior Financial Management 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.
Duties and responsibilities
Under the oversight and guidance of the Division Manager, Financial Management, the Senior Financial Management Officer will:
- Take a proactive role in assessing 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;
- Attend negotiations and ensure Financial Management issues are taken into account in the loan/grant agreements and other associated documentations;
- 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;
- Carry out supervision work to ensure that projects financial management systems are functioning appropriately, including the periodic review of project financial management reports for financial performance;
- 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 Borrowers and the Bank Project Teams on matters affecting financial management and disbursement on capacity building in projects and with public sector accountability institutions;
- Provide financial management guidance for the development of technical assistance programs and evaluate and monitor their implementation;
- Assess the selection and recruitment of external independent auditors, ensuring their suitability including their independence, and competence to perform;
- 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;
- In collaboration with other colleagues, undertake Public Financial Management diagnostic reviews;
- Undertake Financial Management Capacity building in Regional Member Countries and sector departments in the Bank;
- Participate in fiduciary clinics;
- Participate in donor coordination meetings within the region and in country dialogue platforms between the country and the donors on the basis of the overall Bank’s strategy to support aid effectiveness; and
- Undertake other activities, as appropriate, as requested by the Manager, Financial Management.
- Hold a Master’s degree in Accounting, Finance, Business Administration or a related discipline and a Professional Accounting Certification (CPA, CA, ACCA, Expert Comptable);
- Have a minimum of five (5) years of relevant experience in the Bank or similar financial institution, with particular expertise in designing, supporting and implementing financial management operations;
- Have a sound knowledge of the African Development Bank’s Financial Management Policy and Procedures;
- Experience in supporting private sector operations (banking, auditing, finance, microfinance institutions, agriculture, electricity, water) would be an added advantage;
- Experience in a Multilateral Development Bank, with emphasis on financial management, highly valuable;
- Experience in the preparation of financial management policy documents;
- Expert knowledge of International Financial Reporting Standards (IFRSs) and International Standards on Auditing (ISAs). Knowledge of International Public Sector Accounting Standards (IPSASs) and the International Standards of Supreme Audit Institutions (ISSAIs);
- A good understanding of cross-cutting issues beyond financial management (e.g. procurement, governance, donors’ practices) at sector/country level;
- Ability to lead highly technical staff and ensure that teams stay organized and focused, and actively seeks and considers diverse ideas and approaches;
- Strong planning, organization, and time management skills;
- Excellent analytical skills;
- Ability to communicate effectively (Written and Oral) in French or English, with a good working knowledge of the other language; and
- Competence in the use of standard Microsoft Office Suite applications, preferably SAP and Risk Management Software.
Method of ApplicationSubmit your CV and Application on Company Website : Click Here
Closing Date : 1 Jan, 2021