Associate Financial Management Officer

Important Information
Close relatives 1 of ADB staff, except spouses of international staff, are not eligible for recruitment and appointment to staff positions. Applicants are expected to disclose if they have any relative/s by consanguinity/blood, by adoption and/or by affinity/marriage presently employed in ADB.
1 Close relatives refer to spouse, children, mother, father, brother and sister, niece, nephew, aunt and uncle
Staff on probation are not eligible to apply. Applicants for promotion must have served at their position for at least one year and must have normally served at their personal level for at least two years immediately preceding the date of the vacancy closing date. Applicants for lateral transfer must have served at their position and personal level for at least one year immediately preceding the date of the vacancy closing date (reference A.O. 2.03, paragraphs 5.8 and 5.9).
In the event that the staff appointed to a new category (i.e. from AS to NS, or from NS to IS) is rated at 2 or lower in the first two performance reviews after appointment at the new level, they will return to the level occupied immediately prior to their appointment in the new category.
This vacancy is a local staff position. It is open only to nationals and residents of India .
Overview
Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 68 members, 49 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030 .
ADB only hires nationals of its 68 members .
The position is assigned in the India Resident Mission (INRM) within the South Asia Department (SARD) . SARD is responsible for providing leadership innovation, lending, project implementation and knowledge sharing for ADB’s sector and thematic work that covers operations in Bangladesh, Bhutan, India, Nepal, and Sri Lanka.
To view ADB Organizational Chart, please click here .
Job Purpose
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.
  

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;


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


• Good analytical and conceptual skills;

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• 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.
Primary Location
India Resident Mission-India-New Delhi
Department
South Asia Department
Division
India Resident Mission
Staff Category
National Staff (Field Office)
Position Level
NS 1
Job Posting
08-Aug-2022, 11:33:19 AM
22-Aug-2022, 11:59:00 PM