Financial Management Specialist
Job #: req22471
Organization: World Bank
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
Required Language(s): English
Preferred Language(s): French
Closing Date: 5/31/2023 (MM/DD/YYYY) at 11:59pm UTC
Do you want to build a career that is truly worthwhile? The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty and promoting shared prosperity. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org.
Eastern and Southern Africa (E AFR) Region
We need the best and brightest talent focused on our region in order to harness the potential and innovation happening across the continent. Home to about 700 million of Africa’s people, Eastern and Southern Africa is a geographically, culturally and economically diverse region of 26 countries stretching from the Red Sea in the North to the Cape of Good Hope in the South.
The subregion harbors some of Africa’s protracted conflicts, rendering many of its countries fragile, while significant gaps in education, health, and skills development continues to keep people from reaching their full potential. This creates a huge development challenge, impacts heavily on the lives and livelihoods of people, and hinders regional integration and trade! But it also creates an opportunity to work closely with country leaders, civil society, development partners, and young people to chart a brighter course for the future.
Are you ready to make an impact? We are looking for dedicated professionals to join our innovative and diverse team to improve people’s lives and help countries build back better after COVID!
Eastern and Southern Africa (E AFR) Region: https://www.worldbank.org/en/region/afr/eastern-and-southern-africa
Equitable Growth, Finance and Institutions Practice Group
Equitable Growth, Finance and Institutions (EFI) Practice Group (PG) support economic policies and legal, regulatory and institutional reforms to enable equitable and sustainable growth and to reduce poverty.
The Governance Global Practice
More than half of the global population expresses distrust in government institutions. The Governance GP helps developing countries build capable, efficient, open, inclusive and accountable institutions that can support economic growth, reduce poverty, deliver needed services and earn the confidence of citizens. Our work encompasses public financial management, public procurement, civil service reform, open government, anti-corruption, and using technology to improve quality and access to government services. For more information: https://www.worldbank.org/en/topic/governance
Country Management Unit Context
The AECS2 country management unit (CMU) covers 5 countries (Comoros, Madagascar, Mauritius, Mozambique and Seychelles) in a blend of IDA and IBRD countries.
More information on Comoros:https://www.worldbank.org/en/country/comoros
More information on Madagascar: https://www.worldbank.org/en/country/madagascar
More information on Mauritius:https://www.worldbank.org/en/country/mauritius
More information on Mozambique: https://www.worldbank.org/en/country/mozambique
More information on Seychelles: https://www.worldbank.org/en/country/seychelles
Duties and Accountabilities
You will be under the supervision of the Governance Practice Manager for the EAEG2 Unit (Angola, Botswana, Burundi, Comoros, Democratic Republic of Congo, Eswatini, Lesotho, Madagascar, Mauritius, Mozambique, Namibia, Sao Tome and Principe, Seychelles, South Africa) and will contribute to providing fiduciary assurance for the World Bank’s lending program in AESC2 countries with a focus on Madagascar and Comoros.
You will work in coordination with other EAEG2 team members based in Antananarivo and in Washington DC and other country offices, as well as with colleagues from Procurement and other Global Practices. In this role you will be expected to:
- Undertake FM assessments for new projects and provide FM implementation support for ongoing projects covering project budgeting, internal controls, accounting, treasury, funds flow, financial reporting, auditing arrangements and adequacy and suitability of project FM staff.
- Monitor compliance by projects with the Bank’s FM policies and procedures including monitoring compliance with financial covenants; reviewing periodic interim financial reports, annual audited financial statements and related management letters; and preparing appropriate communication to project implementation agencies.
- Update the Bank’s automated FM monitoring systems on a timely basis.
- Assess audit firms/auditors in terms of independence, competence, compliance with international auditing standards.
- Provide training, guidance and advice on FM related aspects to external clients (borrowers and staff of project implementing agencies) and internal clients (Bank Task Teams, and CMU staff).
- Contribute to project and other portfolio and country documents in his/her area of work as needed.
- Qualified professional accountant (CPA, CA, ACCA, DEC or equivalent membership of an internationally recognized professional accountancy body) with a Master’s degree in accounting, public financial management, finance, or other related field.
- At least 5 years of relevant experience.
- Knowledge of International Reporting Standards (IFRS) and International Standards on Audit (ISA). Knowledge of International Public Sector Accounting Standards (IPSAS) and the International Standards of Supreme Audit Institutions (ISSAI) would be an added advantage.
- Experience in assessing internal control systems and evaluating financial management systems (including budgeting, accounting, cash management, internal audit and financial reporting systems).
- Understanding of public sector budget formulation and execution processes, including treasury and cash management.
- Experience in evaluating/interpreting audited financial statements, audit reports and related management letters and in determining appropriate remedial actions.
- Capacity to function effectively with limited supervision and as a member of a multi-disciplinary team.
- Ability to communicate fluently, in writing and orally, in French and English.
- Knowledge and experience of World Bank operations an advantage.
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.