Senior Project Financial MGT Specialist

ABOUT THE ROLE
Contribute to strengthening financial management and ensuring integrity of all financed operations in both Member Countries (MCs) and non-MCs. This role involves assessing project financial management (PFM) and audit systems of MCs and designing fit-for-purpose PFM arrangements for each operation. You will undertake reviews of annual and final project audits, including project special accounts, and contribute to the development and enhancement of PFM policies, guidelines, procedures, and tools. This position promotes greater use of country systems for financial audit of the financed projects.

KEY ACCOUNTABILITIES

Policy Development and Compliance:

• Contribute to enhancements/improvements and changes to financial management policies, procedures, guidelines, and practices to enhance fiduciary safeguards in the operations.
• Ensure financial management policy compliance in all operations during preparation, implementation, and completion.
• Ensure compliance of PFM policy, procedures, and institutional mechanisms in all lending operations.

Assessment and Enhancement of Financial Management Systems:

• Assess, identify, and suggest measures for improving PFM and project audit-related issues covering regulatory, systems, and processes at the country level.
• Prepare country financial accountability assessments to define financial management arrangements at project preparation.
• Understand client needs and identify entry points for public financial management process improvements while promoting the use of country financial management systems.
• Lead the assessment of the capacity of the EAs for management of financed projects and design and execute PFM capacity building initiatives in member countries.
• Provide support and advisory services in developing sound project financial management and audit.

Operational Support:

• Provide support to the RHs, Special and Trust Fund Departments, and other Units regarding project financial management matters throughout all phases of the operations cycle.
• Support financial management aspects in all operations and ensure proposals are compliant with policies and procedures.
• Identify red flags and risk areas from reviews of annual and final FAR of projects and recommend mitigation measures.
• Develop necessary controls to detect unusual occurrences as part of an early-warning system to prevent fraud and corruption.
• Ensure all audit findings in Management Action Plans (MAPs) are addressed.
• Provide fiduciary/financial management support for highly complex and/or high-risk projects and lead initiatives on operational issues related to financial management at project, program, or country level.

Building Capacity and Sharing Knowledge & Best Practices:

• Lead the development of the knowledge base of financial management best practices, lessons learned from MDBs, and country profiles.
• Identify public financial management and audit interventions to improve country systems.
• Disseminate knowledge on public and project financial management and organize country and regional workshops.
• Facilitate and promote in-country cooperation with other development partners in public financial management covering diagnostic work, capacity building initiatives, use of country systems, and harmonization.
• Familiarize EAs/PMUs of Operations with financial management policies and procedures.
• Provide guidance and support to FM colleagues both at HQ and in the field.

ACADEMIC AND PROFESSIONAL QUALIFICATIONS

• Master’s degree in Finance, Financial Audit, Business Administration, or a related field.
• Minimum 8 years of relevant experience in project finance, auditing, risk management, or a relevant field.
• CPA, CA, CMA, or any relevant accounting certification preferred.
• Languages:
  • English: Mandatory
  • Arabic: Preferred
  • French: Preferred

SKILLS & NECESSARY KNOWLEDGE

• Proficient project management knowledge and understanding of the project cycle.
• Proficient understanding of operational policies, guidelines, and procedures.
• Proficient knowledge of project financial management.
• Ability to work with diverse stakeholders effectively.
• Advanced report writing skills.
• Proficient planning and organizing skills.
• Proficient presentation skills.
• Proficient communication skills.