Financial Management Analyst - World Bank - Manila, Philippines

Job #: 122471

Job Title: Financial Management Analyst

Job Family: Financial Management

Job Type: Professional & Technical

Grade: GE

Location: Manila, Philippines

Recruitment Type: Local Hire

Language Requirement: English [Essential]

Closing Date: 07-Nov-2012

Background / General description:

The Financial Management unit (EASFM) is a part of the Central Operation Service Unit (EASOS) in the East Asia and Pacific  Region. It advises and supports Regional Management and Staff on financial management in operations.  More specifically, EASFM is responsible for:
(i)    the financial management aspects of the Region's overall lending portfolio;
(ii)    policy advice to Government on financial management and financial accountability issues (in both public and private sectors); and
(iii)     capacity building to strengthen our partner countries' financial management systems and institutions.

In line with the Bank’s Financial Management corporate strategy, EASFM is committed to support the portfolio-related activities with the purpose of (a) improving the financial management performance of its operations and (b)enhance countries' capacity in using public funds. It currently manages over 20 technical assistance operations focusing on building the capacity of public institutions and Professional Accountancy Organizations.  EASFM also supports the enhancement of Corporate Financial Reporting (CFR) in the region.

EASFM is a highly decentralized unit with 27 professional staff in the field and 3 at HQ in Washington DC. The unit is organized in 6 Centers, each led by a Hub Leader who oversees the work done by the FM team, including the quality assurance of their deliverables.

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. 

Duties and Accountabilities:

The FMA will report to the Regional Financial Management Manager through the Hub Leader based in Manila. He/she will be part of the regional financial management team and the Philippines Country Team.
The selected candidate will work under the close supervision of a Financial Management Specialist and/or the Hub Leader.  S/he will contribute to Bank's financed operations including trust funds and other funds. and will be responsible for:
•    Assessing the adequacy of borrowers' project financial management and reporting systems, including accounting, financial reporting, auditing, and internal control procedures;
•    Assessing project financial management capacity in professional qualifications, skills and competencies, adequacy in numbers and overall suitability of project staff;
•    Conveying to the borrower and others the Bank's financial management requirements, assisting borrowers in setting up charts of accounts and computerized accounting systems, evaluating project financial management systems, creating time-bound action plans for their improvement, and performing follow-up work to ensure that action plans are properly implemented;
•    Providing advice on terms of reference and the content of engagement letters for external auditors of Bank financed operations;
•    Assessing the adequacy of the periodic Interim Financial Reports submitted by the borrowers and recipients as well as their compliance with financial covenants;
•    Reviewing audit reports related to Bank's financed operations, monitoring compliance with financial covenants including audit compliance, ensuring adequate communication with borrowers in respect of audits and entering data on auditing and accountability issues in the Audit Reports Compliance System.
•    Assessing the Financial Management performance and providing a rating, updating the risk rating and maintaining the FM monitoring system up-to-date.
•    Ensuring close monitoring of exceptions and proper communication with counterparts and project's teams

Selection Criteria:

Essential Specialized Skills/Knowledge/Competencies
•    Solid knowledge of current issues in financial management, particularly relating to the public sector.
•    Understanding of Bank policies and practices related to financial management including disbursements.
•    Solid knowledge of International Accounting Standards and International Standards on Auditing.
•    Knowledge of developing country issues as they relate to financial management
•    Demonstrated experience in interpreting financial and project management reports and recommending remedial actions to be taken by the Bank or borrower.
•    In-depth knowledge in the application of accounting, auditing and financial reporting systems and software packages.
•    Experience in designing and assessing internal control systems and procedures using internationally accepted control frameworks

General Competencies
•    Good understanding of information systems and the application of information technologies;
•    Strong communication skills with ability to prepare, present and discuss findings in written and oral form in English;
•    Ability to function effectively in multi-disciplinary teams within a matrix management environment.
Minimum Education/Experience at recruitment selection
•    Minimum Education: BAIBS (CPA / An affiliation with an internationally recognized professional accounting institute is desirable)
•    Minimum Years of Relevant Experience: 3
The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background.  Individuals with disabilities are equally encouraged to apply.  All applications will be treated in the strictest confidence.

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