Job Title : Financial Management Specialist
Job Family : Financial Management
Location : Lilongwe, Malawi
Appointment : Local Hire
Closing Date : 04-Apr-2012
Language Requirements: English [Essential]
Background / General description
The World Bank is looking for a Financial Management Specialist (FMS) who is a professional accountant (CPA, CA or equivalent), with a relevant bachelors degree in accounting, business, finance or economics, and at least 5 years of relevant experience in financial management (FM). Public sector experience would be an advantage. The FMS will report to the Regional Financial Management Manager (RFMM) who is part of the core team Africa Region Quality and Knowledge Services Team in Washington, DC. The FMS will work from the World Bank Country Offices in Malawi, and assist in all financial management (FM) aspects related to the World Bank’s operations. The FMS will perform as a member of the various Task Teams of the World Bank financed projects, and in addition lead special purpose initiatives. 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 renewable term appointment.
Duties and Accountabilities
The FMS is expected to assume the following duties and responsibilities:
•Assess the adequacy of the Borrower’s project financial management systems and their ability to manage and monitor World Bank financed projects. This includes budgeting, policies and procedures, internal controls, accounting, financial reporting and auditing;
•Carry out supervision work to ensure that projects financial management systems are functioning appropriately, including the review of periodic interim financial reports;
•Assess the selection and engagement of auditors, ensuring their suitability including their independence, and competence to perform; and ensure that the borrower provides auditors with all the relevant information (including Terms of Reference and Bank requirements) necessary to carry out their engagement;
•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 Borrower and the World Bank Task Teams on matters affecting financial management;
•Provide financial management guidance for the development of technical assistance programs and evaluate and monitor their implementation;
•Provide guidance and advice to borrowers and Bank staff on capacity building in projects and with public sector accountability institutions;
•Assess the financial and operational viability of implementing entities (e.g. with respect to revenue earning entities), and to advise on the design and use of financial performance covenants;
•Monitor implementation of the agreed action plans for the Country Financial Accountability Assessments (CFAA), and provide technical advice to the Government in the implementation of reform actions;
•Complete/update country financial management strategy; and
•As requested by the RFMM, undertake other FM activities, as appropriate.
Selection Criteria
The FMS should be a professional accountant (CPA, CA or equivalent) with preferably a Masters degree in accounting, business, finance or economics, and a minimum of 5 years of post-qualification experience in financial management. Also, the ideal candidates should have:
•Knowledge of International Accounting Standards and International Standards on Auditing;
•Experience and in-depth familiarity with public sector financial management (desirable);
•Experience with internal audit and internal control systems and procedures (including familiarity with COSO), with the ability to assess such systems and recommend remedial action where necessary;
•A good understanding of the review of financial statements including statements which link financial to non-financial information;
•Experience in auditing, including assessing audit competence, and to the ability to analyze the impact of qualified audit reports and matters arising from management letters;
•Understanding of management information systems and the application of new information technologies;
•Capacity to function as a member of multi-disciplinary team, search for common ground, and where appropriate recommend decisive actions;
•Ability to communicate effectively, in writing and orally, in English and to negotiate substantive and difficult issues with senior government officials; and
•Demonstrated ability to deal with complex analytical and strategic work; process coordination; and interpersonal skills with the ability to work independently with the clients The FMS should be willing to travel frequently.
Closing Date: Wednesday, 04 April 2012