Financial Management Specialist

Background / General description:
The Financial Management Specialist (FMS) should be a professional accountant (CPA, CA or equivalent) with a Bachelors degree in accounting, auditing, business, finance, or related subject, and should have at least 5 years of relevant experience in accounting, auditing and financial management, preferably with expertise in the public sector.

The FMS will report to the Regional Financial Management Manager (RFMM) and will be part of the Financial Management team of the Middle East & North Africa Region (MENA), Financial Management Unit (MNAFM).

The MNAFM unit is responsible for (i) the fiduciary aspects of the Region’s overall lending portfolio, (ii) operational support and sound management of the Region’s portfolio in the area of financial management, (iii) policy advice to Government and analysis of financial management and accountability issues and (iv) capacity building to improve borrowers' financial management systems.  The successful applicant will work with MNAFM team and West Bank and Gaza Country Office (CO) Team, including Financial Management Specialists (FMSs) and Administrative and Client Service (ACS) staff.

Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 2 year term appointment.

 
Duties and Accountabilities:

The FMS will assist in all financial management (FM) aspects related to the World Bank’s operations, and in addition lead special purpose tasks. This will include, but is not limited to assessing the adequacy of project financial management arrangements, participating in supervision of The World Bank financed operations; ensuring compliance with the Bank’s audit and fiduciary requirements, ensuring that the projects operations are carried out in accordance with sound financial management practices and performing analytical work on financial management and accountability issues in support of building client capacity.



Scope of Responsibilities:

The specific duties and responsibilities of the FMS will be agreed with the Manager and will include the following:

-Assess the adequacy of the Borrower’s project financial management systems and their ability to manage and monitor World Bank financed projects. This includes budgeting, policies and procedures, internal controls, accounting, financial reporting and auditing;
-Assist the Borrower and the World Bank Task Team members on financial management requirements, including monitoring and reporting issues;
-Carry out supervision work to ensure that project financial management systems are functioning appropriately, including the periodic review of project financial management reports for financial performance;
-Provide advice and support to Borrower and the World Bank Task Teams on matters affecting financial management;
-Provide financial management guidance for the development of technical assistance programs and evaluate and monitor their implementation;
-Provide guidance and advice to borrowers and bank staff on capacity building in projects and with public sector accountability institutions;
-Assess the selection and engagement of auditors, ensuring their suitability including their independence, and competence  to perform; and ensures that the borrower provides auditors with all the relevant information (including Terms of Reference and the Bank's own requirements) necessary to carry out their engagement;
-Assist in defining practice in new areas of business: e.g.,  decentralization, etc;
-Participate in and lead teams that carry out public financial management analytical work and provide relevant information on country specific issues to country units, sector staff and task teams on generic country specific financial management and disbursement issues.


Selection Criteria:

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 on 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/reports at the project level. 
-Accounting and Financial Reporting - Has solid understanding of the individual IFRSs, IPSAS, or comparable national standards; performs assessments, provides advice and contributes to capacity building on accounting and financial reporting at the project level. 
-External Audit and Oversight - Able to perform assessments & contribute to capacity building on external audit arrangements at the project level, including terms of reference & content engagement letters for auditors of Bank funded operations for financial and performance audits. 
-Financial Management –Reforms/Development and Integration - Able to implement the Bank's Financial Management risk model at the project level; under senior staff guidance, performs assessments and contributes to capacity building on PFM reforms/regulations. 
-FM Sector Dialogue and Policy Advice - Possesses solid knowledge of financial sector including the core elements of a client sector policy, strategy and expenditure programs. 
-Operational Project Management - Demonstrates broad knowledge of project management tools & methodologies; identifies key risks and mitigation measures; interprets background analysis and proposed 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, demonstrating respect for different points of view. 
-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 others' work.

Other Selection Criteria
-The candidate should be a professional accountant (CPA, CA or equivalent) with a Bachelors degree in accounting, auditing, business, finance, or related subject and should have at least 5 years of relevant experience, preferably with expertise in public sector financial management. 
-Ability and willingness to travel.