Associate Financial Management Officer / 220454

The Associate Financial Management Officer provides advice and support to the financial management (FM) function for India’s project portfolio by working closely with the RD’s FM focal points based in ADB Headquarters, project officers and analysts for ADB-funded projects in India; and support project teams working on ADB’s project portfolio in India to ensure compliance related to audited project financial statements (APFSs) and entity financial statements (AEFSs) for India projects. The position will also provide support in implementing ADB FM policies and strategies in India and other selected RD DMCs as needed. The incumbent will report to designated international staff (IS) and senior national staff (NS).

Responsibilities

• Leads the (i) review of APFS and AEFS for all India projects following the internal review process and exercise professional judgment; (ii) FM support for India project teams to communicate with executing and/or implementing agencies (EAs/IAs) on issues identified in the APFS and AEFS, including compliance with financial covenants; and (iii) preparation of checklists in accordance with ADB's internal guidelines and procedures for APFS review, monitoring and quality improvement.


• Analyzes non-compliance or delayed compliance with APFS and AEFS submission and public disclosure requirements, as well as quality, common issues and deficiencies in APFS and AEFS and summarize these and expected actions in a regular report.


• Diligently follows up with project teams and EAs to achieve compliance with ADB FM requirements.


• Monitors regularly the follow-up actions identified from APFS and AEFS review or other related actions and develops and maintains an appropriate monitoring database of project financial statements and verify project related information to assist APFS and AEFS review.


• Provides technical assistance to project teams on financial due diligence work by supporting the:
  
  
  
  • conduct of a financial management assessment of the EAs/IAs, including: (i) assessing whether previous financial management assessments have been conducted by ADB or other agencies and, if so, reviewing the results and ascertaining whether these can be used as input; (ii) assessing capacity for planning and budgeting, management and financial accounting, reporting, auditing, internal controls, and information systems; (iii) reviewing proposed disbursement and funds-flow arrangements; and (iv) concluding on the financial management risk rating and identifying and confirming measures for addressing identified deficiencies;
  
  
  • preparation and agreement of cost estimates and a financing plan, which are based on verifiable data and are sufficient to support project implementation;
  
  
  • preparation of financial projections and conducting financial analyses of the EAs/IAs, and incremental recurrent costs, to determine financial sustainability, and reviewing proposed cost-recovery and tariff policies, including affordability;
  
  
  • conduct of financial evaluations (financial cost-benefit analyses) including sensitivity analyses of project components that have a full cost-recovery objective;
  
  
  • development of risk mitigation measures to be incorporated in financial covenants where significant risks are identified to project financial sustainability or viability; and
  
  
  • assessment and achievement of agreement on financial reporting, auditing and public disclosure arrangements for the project, and, as appropriate, identifying and agreeing arrangements for receiving financial statements from EAs/IAs.
  
  
  
  
  


• Facilitates and participates in project preparation and/or review missions to help resolve problems related to project financial management, as needed.


• Inputs and updates project data and records in ADB information systems and databases.


• Monitors the India projects' compliance with financial covenants in the legal agreements and coordinate with project teams to follow up on achieving compliance.


• Reviews country FM systems and monitor changes related to project financial management, audit, taxation, and other finance-related areas, and update India management and staff regularly on any changes that may affect project implementation and performance.


• Performs other tasks as assigned and reflected in the incumbent's workplan.

Qualifications

Relevant Experience & Requirements

• Professional qualification in accounting (being a Chartered Accountant from India) is mandatory;


• Bachelor’s degree in accounting, finance, or a related field;


• At least 6 years of relevant professional experience, including in audit and financial due diligence;


• Experience in audit and assurances function from reputed international or national equivalent firms with exposure of finalizing corporate accounts, end to end statutory audit finalization or finalizing management audit of leading corporations, government bodies etc.


• Advanced and broad knowledge of all aspects of financial reporting function practices in FM, including: (i) International Financial Reporting Standards (IFRS) or its equivalent national reporting standards like IND:AS or relevant applicable government accounting standards and International Standards on Auditing (ISA) or its national equivalent standards; (ii) experience with internal control systems and procedures (in particular the COSO framework); (iii) experience in financial and management auditing including assessing auditors' competence; and (iv) experience in advising clients on the design and implementation of FM systems, including financial and management reports;


• Proven ability to work independently on assigned transactions, areas of analysis and research, which have well-defined scope and steps;

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• Effective report-writing and strong oral and written communication skills in English;


• Good analytical and conceptual skills;


• Able to liaise and work effectively with government officials;


• Able to guide administrative staff to facilitate work planning, delivery and quality review;


• strong planning, organizational and administrative skills;


• Proficiency in MS Word, MS Excel, MS PowerPoint; familiarity with database management tools; and


• Able to work collaboratively with teams as a constructive team member.


• Please refer to the link for ADB Competency Framework for National Staff Level 1.

General Considerations

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.