The FMS is expected to work on all FM aspects related to the World Bank operations in Pakistan. This will include, but not limited to: (i) assessing the adequacy of project financial management arrangements; (ii) providing implementation support and supervising projects financed by grants, loans or credits; (iii) ensuring compliance with the Bank’s audit and other fiduciary requirements, and that project operations are carried out in accordance with sound financial management practices; (iv) being involved in analytical work on FM and accountability issues and (v) carrying out capacity building activities.
He/She is expected to assume the following specific duties and responsibilities:
▪ Ensure delivery of quality financial management services on projects to support the achievement of project development objectives;
▪ Assess the adequacy of the borrower’s project financial management systems and their ability to manage and monitor World Bank financed projects, including at the sectoral level, where needed. This includes budgeting, policies and procedures, internal controls, accounting, financial reporting and auditing;
▪ Provide implementation support and carry out supervision work to ensure that project FM 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 guidance and advice to borrowers, country institutions and Bank staff on capacity building and performance improvements of projects, public sector accountability institutions, accounting and auditing standard setters and regulators, and professional accountancy organizations;
▪ Update and use information in the Bank’s systems (PRIMA and SAP); and
▪ Undertake other FM activities, as appropriate.
Selection Criteria:
Minimum Education and Professional Background:
▪ Relevant bachelor’s degree in accounting, business, finance or economics degree plus membership of an internationally recognized professional accounting institute (CPA, CA or equivalent).
▪ The CPA requirement may be waived for candidates with Advanced Degree in a relevant discipline (e.g. one related to Public Sector Financial Management) together with very strong experience in the public sector.
Essential Specialized Skills/Experience
▪ Five years of relevant experience in financial management;
▪ Knowledge of International Financial Reporting Standards (IFRS) and International Standards on Auditing;
▪ Experience in designing and assessing internal control systems and procedures, using internationally acceptable control frameworks such as COSO ;
▪ Knowledge of accounting, auditing and financial reporting systems and software packages;
▪ Experience and/or ability in evaluating audits, assessing auditor competence and following up on issues resulting from audits;
▪ Ability to interpret financial and project management reports and to determine appropriate remedial actions;
▪ Knowledge of current issues in FM, including those relating to the public sector and those relating to developing countries;
▪ 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 distill and disseminate financial management knowledge;
▪ Experience in advising clients on design and implementation of FM systems, including financial and management reports;
▪ Strong planning, organization and time management skills required to facilitate teamwork and to contribute towards a common goal;
▪ Ability to handle multiple tasks and projects;
▪ Strong analytical capabilities and proven skills to deal with FM issues innovatively and independently;
▪ Ability to communicate effectively, in writing and orally in English, including situations requiring negotiation.
Competencies:
▪ Budget Formulation and Execution – Able to perform assessments, provide advice and contributes to capacity building on budget formulation and execution processes at the project level.
▪ Financial Management Information Systems – Has solid understanding of Financial Management Information Systems with ability to perform assessments, provide advice and contribute to capacity building matters at the project level;
▪ Internal Controls, Internal Audit, and Risk Management – Possesses ability to perform assessments, provide advice and contribute to capacity building on internal control and internal audit arrangements at the project level.
▪ External Audit and Oversight – Able to perform assessments and contributes to capacity building on accounting and financial reporting at the project level.
▪ Accounting and Financial Reporting – Has solid understanding of IFRSs, IPSAS or comparable national standards; performs assessments, provides advice and contributes to capacity building on accounting and financial reporting at the project level.
▪ Financial Management Reforms/Development and Integration – Able to implement the Bank’s FM risk model at the project level; under senior staff guidance, performs assessments and contributes to capacity building on PFM reforms.
▪ FM Sector Dialogue and Policy Advice – Possesses solid knowledge of FM sector including the core elements of a client sector policy, strategy and expenditures programs.
▪ Operational project Management – Demonstrates broad knowledge and understanding of project management tools and methodologies; identifies key risks and mitigation measures; interprets background analysis and propose solutions.
▪ Client Orientation – Takes personal responsibility and accountability for timely response to client queries, requests or needs, working to remove obstacles that may impede execution or overall success.
▪ Drive for Results – Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results, and has the personal organization to do so.
▪ Teamwork (Collaboration) and Inclusion – Collaborates with other team members and contributes productively to the team’s work and output; demonstrates respect for diverse ideas and approaches.
▪ Knowledge, Learning and Communication – Actively seeks knowledge needed to complete assignments and shares knowledge with others, communicating and presenting information in a clear and organized manner.
▪ Business Judgment and Analytical Decision Making – Analyzes facts and data to support sound, logical decisions regarding own and other’s work.
The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.
Note: applicants must be able to travel frequently.
Click here to Apply