|Position Level||IS 4|
|Division||Technical Assistance Section, CTLA|
|Location||Asian Development Bank Headquarters|
|Date Posted||Wednesday, March 15, 2023|
|Closing Date||Wednesday, March 29, 2023 11:59 p.m. (2359 Manila Time, 0800 GMT)|
Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 68 members, 49 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030.
ADB only hires nationals of its 68 members.
The position is assigned in the Technical Assistance Section (CTLA-TA), Loan Administration Division (CTLA) within the Controller’s Department (CTL). CTL helps maintain adequate and sound internal control of processes in ADB. CTLA is responsible for loan and grant fiduciary control and disbursement arrangements, and related matters for sovereign loans and grants and technical assistance operations from project preparation to implementation.
The Financial Control Specialist will ensure that disbursement and financing arrangements for proposed projects are properly designed, and compliant with ADB policies and guidelines. The incumbent will also provide advice, guidance, and inputs on ADB policies, procedures and guidelines from the disbursement, financing and fiduciary control perspectives and will ensure the processing of loan and grant disbursement claims and contribute to loan and grant portfolio monitoring. The incumbent will report to Assistant Controller, CTLA and will supervise National Staff and Administrative Staff.
- Ensures that disbursement operations of technical assistance grants are in accordance with ADB’s policies and guidelines, including Technical Assistance Disbursement Handbook.
- Monitors transaction volume and time to ensure timely disbursement processing within service level standards.
- Monitors outstanding advances, reconciliation of suspense accounts, and facilitates timely liquidation and accounting entries.
- Provides quality client service and advice to Technical Assistance supervising units, consultants and other service providers in processing project documents and disbursements during project implementation, such as disbursement/fiduciary arrangements with development partners.
- Supports in activities to strengthen organizational resilience.
- Represents CTL on ADB-wide activities, working groups and committees as assigned.
- Reviews and recommends accordingly any changes to disbursement policies and procedures to promote timeliness, accuracy and efficiency in processing while maintaining appropriate fiduciary controls.
- Contributes to the implementation of special projects for process and systems improvements, such as upgrades of client portal system and client service chatbot.
- Extends coverage of disbursement operations and fiduciary oversight for loan/grant projects including the following areas:
- Ensures processing of loan and grant disbursement claims in coordination with Resident Missions (RMs) and Representative Offices (ROs) under the section’s responsibility to ensure timeliness and accuracy.
- Reviews project documents such as report and recommendation of the President (and its linked documents), legal agreements etc. to ensure disbursement and financing arrangements for proposed loan and grant projects incorporate proper fiduciary controls, and are compliant with ADB policies and guidelines, including Loan Disbursement Handbook.
- Participates and provides inputs in technical discussions and loan and grant negotiations.
- Ensures timely resolution of disbursement issues in coordination with concerned departments and stakeholders.
- Plans, organizes, and conducts loan/grant disbursement missions to verify statement of expenditures (SOE), reviews the delegated disbursement operation in RMs, and resolves disbursement issues.
- Ensures the proper liquidation of long outstanding advances, and the timely closure of completed loans and grants.
- Provides quality client service to operation departments in processing project documents and disbursements and advice to executing agencies and RMs during project implementation.
- Monitors loan/grant effectiveness, disbursement ratio, advance account turnover ratio, counterpart funding issues and loan closing for the assigned portfolio of loans.
- Provides advice, guidance, and inputs, from the disbursement, financing and fiduciary control perspectives to the creation of and revisions to ADB policies, procedures and guidelines, including Operational Manuals, Project Administration Instructions, Staff Instructions, Board Papers, and other policy papers or guidelines.
- Provides training to executing and implementing agencies, and HQ and RM staff to ensure familiarity and the proper implementation of applicable ADB disbursement and financing policies and procedures.
- Provides leadership, training, and support to direct reporting staff.
- Supervises the performance of direct reporting staff, providing clear direction and regular monitoring and feedback on performance.
- Ensures the on-going learning and development of reporting staff.
Relevant Experience & Requirements
- Master’s degree in accounting, finance, or business administration or University degree in accounting, finance, or business administration and at least 5 years specialized experience relevant to the position can be considered.
- With professional certification/qualification, such as Chartered Accountant (CA), Certified Public Accountant (CPA), or its equivalent.
- At least 8 years of relevant experience within the field in a professional capacity.
- International experience working in several countries.
- Proven application of expertise within a specific area, or breadth across multiple areas with in-depth knowledge within one area.
- Ability to utilize and share relevant knowledge to benefit the broader ADB community.
- Familiarity with enterprise IT platform for accounting/disbursement.
- Good understanding of internal controls; business processes concepts, practices and general policies, procedures, guidelines, and reporting requirements prevalent in a multilateral institution.
- Analytical and systematic thinking with strong numerical skills and attention to detail and ability to plan and coordinate schedules in order to meet deadlines.
- Excellent written and verbal communication skills in English.
- Ability to mentor and or coach, provide guidance on the delivery of outputs and developing capabilities/potential of more junior colleagues.
- Ability to act as a team leader when required with supervision from the Assistant Controller or a more senior team leader.
- Please refer to the link for ADB Competency Framework for International Staff level IS4.
The selected candidate, if new to ADB, is appointed for an initial term of 3 years.
ADB offers competitive remuneration and a comprehensive benefits package. Actual appointment salary will be based on ADB’s standards and computation, taking into account the selected individual’s qualifications and experience.
ADB seeks to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious, and cultural background, gender, sexual orientation, or disabilities. Women are highly encouraged to apply.
Please note that the actual level and salary will be based on qualifications of the selected candidate.