Overview
The Financial Management Specialist will undertake Financial Management (FM) assessments for new projects and provide FM implementation support for ongoing projects. The role involves monitoring compliance with the Bank’s FM policies and procedures and providing guidance on FM related aspects.
Key Responsibilities
- Undertake Financial Management (FM) assessments for new projects and provide FM implementation support for ongoing projects covering project budgeting, internal controls, accounting, treasury, funds flow, financial reporting, auditing arrangements and adequacy and suitability of project FM staff.
- Monitor compliance by projects with the Bank’s FM policies and procedures including monitoring compliance with financial covenants; reviewing periodic interim financial reports, annual audited financial statements and related management letters; and preparing appropriate communication to project implementation agencies.
- Update the Bank’s automated FM monitoring systems on a timely basis.
- Assess audit firms/auditors in terms of independence, competence, compliance with international auditing standards.
- Provide training, guidance and advice on FM related aspects to external clients (borrowers and staff of project implementing agencies) and internal clients (World Bank staff).
- Contribute to project and other portfolio and country documents as needed.
Required Experience
- At least 5 years of relevant experience.
- Experience in assessing internal control systems and evaluating financial management systems (including budgeting, accounting, cash management, internal audit and financial reporting systems).
- Understanding of public sector budget formulation and execution processes, including treasury and cash management.
- Experience in evaluating/interpreting audited financial statements, audit reports and related management letters and in determining appropriate remedial actions.
- Knowledge and experience of World Bank operations, as well as prior experience working in Mozambique would be an advantage.
Qualifications
• Qualified professional accountant (CPA, CA, ACCA, DEC or equivalent membership of an internationally recognized professional accountancy body) with a Master’s degree in accounting, public financial management, finance, or other related field.
