Posted by T.K. Balakrishnan, Manager, FinancialManagement, Latin America and Caribbean Region, World Bank
The World Bank has an opening for a FinancialManagement Analyst (FMA) based in Buenos Aires, Argentina. Job description andqualifications are detailed in the job announcement, posted on the World Bank'swebsite (click on this link): FinancialManagement Analyst based in Buenos Aires, Argentina -- Job # 130068
The Closing Date is January 29, 2013.
For convenience, we provide the PFM Blog readers with excerpts from the JobAnnouncement.
Duties and Accountabilities:
The World Bankis strongly committed to support improvement of performance and capacity of FMinstitutions and systems, align financial management arrangements in WorldBank-financed projects with the country regular institutions and systems, andmonitor and improve the fiduciary aspects of the Portfolio. The Financial Management Analyst (FMA) isexpected to be fully dedicated to these objectives. The FMA will be part of the Regional FMteam, will work under the supervisionof the LC7 FM Coordinator, and will report to the Regional Manager forFinancial Management (RMFM).
The FMA willwork from the Buenos Aires office and work on all financial management (FM)aspects related to the World Bank’s operations in the LC7 countries (Argentina,Paraguay and Uruguay), and in other countries as needed. This will include, butis not limited to: assessing the adequacy of project financial managementarrangements, providing implementation support and supervising projectsfinanced by grants and credits; ensuring compliance with the Bank’s audit andother fiduciary requirements, ensuring that the project operations are carriedout in accordance with sound financial management practices, performinganalytical work on financial management and accountability issues, and carryingout capacity building activities. The FMAwill work with the country team, including Task Team Leaders, FinancialManagement Specialists, Procurement and other technical specialists, andAdministrative and Client Service (ACS) staff.
The FMA isexpected to assume the following duties and responsibilities:
- Assessthe adequacy of the borrower’s project financial management systems and theirability to manage and monitor World Bank-financed projects, including at thesectoral level where needed. This includes budgeting, policies and procedures,internal controls, accounting, financial reporting and auditing. Measures to support institutional developmentto develop capacity and manage risk are an essential element of this approach.
- Provideimplementation support and carry out supervision work to ensure that projectsfinancial management systems are functioning appropriately, including thereview of periodic interim financial reports.
- Assessthe selection and engagement of auditors, ensuring their suitability includingtheir independence, and competence to perform audits; and ensure that theborrower provides auditors with all the relevant information (including Termsof Reference and Bank requirements) necessary to carry out their engagement.
- Reviewaudited financial statements and other periodic financial reports received,monitor the Borrower's compliance with financial covenants including auditcompliance, ensure adequate communication with the Borrower and the projectimplementing agencies with respect to audits and other financial reports, andadvise as appropriate.
- Provideadvice and support to Borrower and the World Bank Task Teams on projectfinancial management matters.
- Activelyparticipate in partner country institutional development activities related tofinancial management, including analytic work, capacity building projects orcomponents, technical assistance, training, and knowledge sharing.
- Provideguidance and advice to borrowers, country institutions and Bank staff oncapacity building and performance improvement of projects, public sectoraccountability institutions, accounting and auditing standard setters andregulators, and professional accountancy organizations.
- Updateand using information in the Bank’s systems as needed (ARCS, PRIMA, SAP).
- Asrequested by the RMFM, undertake other FM activities, as appropriate.
SelectionCriteria:
- Thecandidate should be a professional accountant (CPA, CA or equivalent membershipof an internationally recognized professional accounting institute) with aBachelors degree in accounting, business, finance, economics or relatedsubject.
- 3years of relevant experience in financial management.
- Language: Fluency in English and Spanish is required.
- Knowledgeof current issues in financial management, including relating to the publicsector and relating to developing country issues.
- Experiencein designing and assessing internal control systems and procedures, andknowledge of internationally accepted control frameworks such as COSO/ERM.
- Experiencein and/or ability to evaluating audits, assessing auditor competence, andfollowing up on issues raised by the audits.
- Abilityto interpret financial and project management reports and determiningappropriate remedial actions.
- Abilityto assess the quality of portfolio performance on financial management.
- Abilityto understand cross-cutting issues beyond financial management (e.g.procurement, governance, public sector management) at sector/country level.
- Experiencein advising clients on the design and implementation of financial managementsystems, including financial and management reports.
- Strongplanning, organization and time management skills to function in a team andcontribute towards a common goal. Ability to handle multiple tasks and projects.
- Abilityto communicate effectively, in writing and orally, including situationsrequiring negotiation.
- Understandingof information systems and the application of new technology.
- Willingnessand ability to travel frequently.
In addition tothe above, the following are required:
Competencies
- BudgetFormulation and Execution - Able to perform assessments, provide advice, andcontribute to capacity building on budget formulation and execution processesat the project level under senior staff guidance.
- FinancialManagement Information Systems - Has basic understanding of FinancialManagement Information Systems with ability to perform assessments, provideadvice and contribute to capacity building on matters at the project levelunder senior staff guidance.
- InternalControls, Internal Audit, and Risk Management - Possesses ability to performassessments, provide advice and contribute to capacity building on internalcontrol and internal audit arrangements at the project level, under seniorstaff guidance.
- Accountingand Financial Reporting - Has knowledge of the individual IFRSs, IPSAS, orcomparable national standards; under senior staff guidance, able to performassessments, provide advice and contribute to capacity building on accountingand financial reporting at the project level.
- ExternalAudit and Oversight - Understands international auditing standards issued byIFAC and INTOSAI; reviews audited project and entity financial statements,identifying deficiencies and gaps in compliance with financing agreementcovenants, including audit compliance.
- FinancialManagement –Reforms/Development and Integration - Possesses basic understandingof the Bank's fiduciary risk and FM risk model; under senior staff guidance,implements the Bank's FM risk model at the project level.
- FMSector Dialogue and Policy Advice - Has basic knowledge of financial managementsector with the ability to carry out, under senior staff guidance, datacollection on and analysis of relevant issues.
- OperationalProject Management - Participates in the review of bidding documents,evaluation reports, safeguard studies draft fiduciary, safeguard and governanceand anti-corruption (GAC) assessments, and implementation progress reports, andin the development/updates of procurement plans and action plans.
- ClientOrientation - Takes personal responsibility and accountability for timelyresponse to client queries, requests or needs, working to remove obstacles thatmay impede execution or overall success.
- Drivefor Results - Takes personal ownership and accountability to meet deadlines andachieve agreed-upon results, and has the personal organization to do so.
- Teamwork(Collaboration) and Inclusion - Collaborates with other team members andcontributes productively to the team's work and output, demonstrating respectfor different points of view.
- Knowledge,Learning and Communication - Actively seeks knowledge needed to completeassignments and shares knowledge with others, communicating and presentinginformation in a clear and organized manner.
- BusinessJudgment and Analytical Decision Making - Analyzes facts and data to supportsound, logical decisions regarding own and others' work.
Applications should be submitted online at www.worldbank.org making explicit reference to Job Number 130068 by January 29, 2013.
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