Financial Management Specialis job in Washington, DC| Recruit Arrow
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Financial Management Specialis
Location : District of Columbia, Washington
Refer job # MFTO337777
Job Responsibilities and Requirements: Responsibilities: The specific duties and responsibilities of the FMS will be agreed with the Global Governance Practice Manager - Financial Accountability and Reporting (FAR) -GGO25. He/she is expected to perform a full range of operational FM duties, working under the supervision of a more senior staff. He/she will take a leading role in the following tasks: Carry out FM assessments for new projects and FM supervision assessments for ongoing projects covering project budgeting, internal controls, accounting, treasury/funds flow, financial reporting, and auditing arrangements including adequacy and suitability of project FM staff. Monitor on-going compliance by projects with the Bank s FM policies and procedures. Monitor borrower's compliance with financial covenants including audit. Conduct internal control reviews and Statement of Expenditures (SOE) reviews, in conjunction with disbursement and procurement staff, to determine eligibility of expenditures for Bank financing. Review periodic Interim Financial Reports (IFR). Review annual audited financial statements, audit reports, and audit management letters and prepare appropriate letters for communication with the project implementing agencies. Update the Bank s automated PRIMA system on a timely basis. Provide inputs into diagnostic work in Public Financial Management (PFM), Systematic Country Diagnostics (SCD), and Country Partnership Frameworks (CPF). Assess audit firms/ auditors in terms of independence, competence, compliance with International Audit Standards, adequacy of working papers etc. Provide training, guidance, and advice on FM related aspects to the staff of project implementing agencies and Bank Task Teams. Selection Criteria: Fluency in both written and spoken English language is necessary. Willingness and ability to travel frequently, sometimes at a short notice. Technical and other skills Knowledge of International Financial Reporting Standards (IFRS) and International Standards on Auditing (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 designing and assessing internal control systems using internationally accepted control frameworks such as COSO. Experience in evaluating financial management systems (including budgeting, accounting, cash management, internal audit, financial reporting systems). Experience in assessing auditor competence and independence. Experience in the design and implementation of computerized financial management systems. Experience in evaluating/interpreting financial statements and in determining appropriate remedial actions. Experience in evaluating audit reports / management letters, following up on issues resulting from the audits. Demonstrated experience in fragile and conflict affected contexts (essential); Understands the budget formulation and execution processes, including treasury and cash management, as applicable to Bank-financed investment projects and public sector finance in general. Strong analytical capabilities and planning, organization, and time management skills. Capacity to function effectively as a member of a multi-disciplinary team, ability to search for common ground to resolve problems. Ability to communicate effectively, in writing and orally in French with good working understanding of English. Behavioral Competencies Client Orientation - Maintains client relationships in the face of conflicting demands or directions and provides evidence-based advice and solutions based on sound diagnosis and knowledge. Drive for Results - Identifies the needed resources to accomplish results involving multiple stakeholders and finds solutions to obstacles affecting key deliverables. Teamwork and Inclusion - Shows leadership in ensuring the team stays organized and focused, and actively seeks and considers diverse ideas and approaches. Knowledge Learning and Communication - Leads in the sharing of best practice, trends, knowledge and lessons learned across units and with clients and partners, articulating ideas verbally and in writing in a clear and compelling way across audiences of varied levels. Business Judgment and Analytical Decision Making - Serves as a trusted advisor to others on their decisions, ensuring alignment across units and optimal impact on the organization as a whole.
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