Posted by T.K. Balakrishnan, Manager, Financial Management, Latin America and Caribbean Region, World Bank
The World Bank has an opening for a Financial Management Extended Term Consultant (ETC) based in Kingston, Jamaica. Job description and qualifications are detailed in job announcement #120128, posted on the World Bank's website. The Closing Date is February 13, 2012. For convenience, we provide the PFM Blog readers with excerpts from the Job Announcement.
Duties and Accountabilities:
The World Bank is strongly committed to support improvement of performance and capacity of FM institutions and systems, advance the use of country FM systems, and monitor and improve the fiduciary aspects of the Portfolio. The Financial Management Extended Term Consultant (FM-ETC) is expected to be fully dedicated to these objectives. The FM-ETC will be based in the World Bank’s office in Kingston, Jamaica and work on all financial management (FM) aspects related to the World Bank’s operations in selected Caribbean countries. This will include, but is not limited to: assessing the adequacy of project financial management arrangements, providing implementation support and supervising projects financed by grants and credits; ensuring compliance with the Bank’s audit and other fiduciary requirements, ensuring that the project operations are carried out in accordance with sound financial management practices, performing analytical work on financial management and accountability issues, and carrying out capacity building activities.
The FM-ETC 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.
- Provide implementation support and 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 audits; 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 and other periodic financial reports 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 other financial reports, and advise as appropriate.
- Provide advice and support to Borrower and the World Bank Task Teams on project financial management matters.
- Provide guidance and advice to borrowers and Bank staff on capacity building in projects (including training) and more broadly, in country institutions involved in financial management.
- Updating and using information in the Bank’s systems as needed (ARCS, PRIMA, SAP).
- Undertake other FM activities, as appropriate.
Selection Criteria:
Education/experience/language:
- The candidate should be a professional accountant (CPA, CA or equivalent membership of an internationally recognized professional accounting institute) with a Bachelors degree in accounting, business, finance, economics or related subject.
- 5 years of relevant experience in financial management. Outstanding candidates with less than 5 years relevant experience may be considered for a lower grade.
- Language: Fluency in English is required.
Technical and other skills:
- Knowledge of International Accounting Standards and International Standards on Auditing.
Experience in designing and assessing internal control systems and procedures, using internationally accepted control frameworks such as COSO. - Knowledge in the application of accounting, auditing and financial reporting systems and software packages.
- Experience in and/or ability to evaluating audits, assessing auditor competence, and following up on issues raised by the audits.
- Ability to interpret financial and project management reports and determining appropriate remedial actions.
- Knowledge of current issues in financial management, including relating to the public sector and relating to developing country issues.
- Ability to assess the quality of portfolio performance on financial management.
- Ability to understand cross-cutting issues beyond financial management (e.g. procurement, governance, public sector management) at sector/country level.
- Ability to conceptualize, design and implement country or sector level financial management capacity building initiatives. Ability to promote client/beneficiary participation and commitment to financial management and accountability.
- Ability to distill and disseminate financial management knowledge. Experience in advising clients on the design and implementation of financial management systems, including financial and management reports is desirable.
- Strong planning, organization and time management skills to function in a team and contribute towards a common goal. Ability to handle multiple tasks and projects.
- Capacity to function effectively as a member of a multi-disciplinary team, to search for common ground, to resolve problems, and where appropriate, to recommend decisive action.
- Strong analytical capabilities and proven skills to deal with FM issues innovatively and independently.
- Ability to communicate effectively, in writing and orally, including situations requiring negotiation.
- Understanding of information systems and the application of new technology.
- Willingness and ability to travel frequently.
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