Financial Management Specialist

Duties and Accountabilities:

The FMS is expected to assume the following duties and responsibilities:

• Assess the adequacy of the Borrower’s project financial management systems and their ability to manage and monitor World Bank financed projects. This includes activity planning and budgeting, policies and procedures, internal controls, funds flow, accounting, financial reporting and auditing;
• Carry out implementation support work to ensure that project financial management 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; 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 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 provide advice to Bank teams, management and borrower as appropriate;
• Monitor and review project interim reports, audit reports, and other FM related communication and exchange between the Bank and the borrower, and maintain and update the information systems regularly.
• Produce reports on portfolio FM status on a regular basis and as needed; and communicate with the task teams and management team as appropriate.
• Provide advice and support to Borrower and the World Bank Task Teams on matters related to all aspects of 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 financial and operational viability of implementing entities (e.g. with respect to revenue earning entities), and to advise on the design and use of financial performance covenants;
• Contribute with other members of the GGOAC Team to governance operations, policy dialogue and analytical/advisory services, especially in the field of Public Financial Management
• Undertake other activities, as appropriate and as requested by the PM.

Selection Criteria:

The candidate should be a professional accountant (CPA, CA or equivalent membership of an internationally recognized professional accounting institute) with a Bachelor’s degree in accounting, business, finance, economics or related subject. The CPA requirement may be substituted with an Advanced Degree in a relevant discipline (e.g. Public Sector Finance) and significant experience (5+ years) in public financial management.

The ideal candidate should also have:

• Public Financial Management System Knowledge and Ability: Demonstrates solid understanding of budget formulation, authorization and commitment, treasury and cash management, internal controls, internal audit and risk management, financial management information systems, accounting and reporting (including international public sector accounting standards), and accountability and oversight institutions (including SAI and external audit, INTOSAI standards, and legislative scrutiny).
• Financial Management in Operations Knowledge and Ability: Demonstrates solid knowledge of the Bank’s fiduciary assurance risk model, and use of country PFM systems for Bank-financed operations. Performs a range of standard assessments to strengthen and monitor the Borrower or Implementing Entities’ financial management arrangements to help provide reasonable assurance that the proceeds of the Bank financing are used for the purposes for which they are granted.
• Capacity to function as a member of multi-disciplinary teams, search for common ground, and where appropriate recommend necessary actions;
• Ability to communicate fluently and effectively, in writing and orally, in Portuguese and in English and to negotiate substantive and difficult issues with senior government officials (essential);
• Demonstrated ability to deal with complex analytical and strategic work; process coordination;
• Interpersonal skills with the ability to work independently with the clients; and
• Willing to travel frequently.
• Behavioral Competencies
• Client Orientation – Maintain good and professional client relationships.
• Drive for Results – takes initiative as needed and delivers results of his/her work program as agreed with the management team.
• Teamwork and Inclusion – collaborates and integrates well with the various teams he/she works with, stays organized and focused, and seeks diverse opinions, ideas and approaches from other colleagues in the network as needed.
• Knowledge, Learning and Communication – actively seeks to learn and share knowledge and lessons as needed.

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.