African Development Bank Group (AfDB) – Established in 1964, the African Development Bank is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries). The Bank’s development agenda is delivering the financial and technical support for transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth.
We are recruiting to fill the position below:
Job Title: Chief Financial Management Policy Officer
Reference: ADB/18/163
Location: Côte d’Ivoire
Grade: PL3
Position N°: 50071203
The Complex
- The Senior Vice-President is responsible for supporting the President in the day-to-day management of the Bank Group to achieve it strategic objective, and drive performance culture that will align all processes and systems to deliver high impact results.
- The Senior Vice-President will provide effective leadership and exceptional coordination to ensure implementation and monitoring of key corporate decisions as well as the identification of necessary corrective measures and actions.
- The Senior Vice-President will lead senior management discussions, decisions-making process and the implementation of key board and management decisions.
The Hiring Department
- The Senior Vice-President supervises the Fiduciary Services and Inspection Department, which acts as the custodian of the procurement (including procurement for private and public partnership) and financial management profession, and has the following responsibilities for its functions:
- Developing and interpreting fiduciary policy, strategy and related implementing documents (Manuals and Tools), including serving as the secretariat of the Procurement Review Committee (PRC);
- Providing fiduciary support to operations complexes (Sector Departments, Directorate General) during the whole project cycle, including country strategy papers, to ensure that fiduciary arrangements comply with Bank Fiduciary (Procurement and FM) policies and procedures;
- Developing and implementing fiduciary capacity building strategy for Bank Staff and Regional Member Countries (RMCs);
- Inspecting and reporting on the performance of fiduciary activities undertaken by sector departments and the regions, including preparing annual post review reports on these activities for Board presentation that will contribute to building credibility and trust of the Bank in the countries and with other stakeholders; and
- Dialoguing with external and global partners with a view to building partnerships and fostering harmonization.
The Position
Under the general supervision of the Director of the Fiduciary Services and Inspection department, the incumbent will play a leading role in:
- The design of a comprehensive and structured body of financial management policies and procedures applicable to Bank’s financed projects and programs, including revising the current framework or conceiving additional policies, strategies or guidelines on financial management
- The implementation of aid effectiveness agenda through harmonization of donors practices and encouraging the use of country public financial management systems on one hand and supporting the capacity building strategy of oversight institutions at the continental level on the other hand
- The conception of specific financial management policies and procedures destined to support the High 5s and the Ten Years Strategy.
Duties and Responsibilities
- Provide key contributions in developing, reviewing, updating and implementing changes in the Bank’s financial management (FM) policies, procedures and guidelines regarding the fiduciary safeguards.
- Influence the design and execution of major policy initiatives in the region and across the Bank
- Conceive, develop and promote innovations in Bank policies on financial management to improve its involvement and borrower’s accountability on FM issues.
- Provide assistance in the development of policy and strategies for financial management thematic areas in Regional Member Countries in consultation with relevant government agencies.
- Provide assistance in conducting dialogue with government officials in Regional Member Countries on policy and reforms with respect to the areas of financial management.
- Participates in ground-breaking or precedent setting missions and plays a key role in developing innovative practical approaches to difficult policy and operational issues at the Regional, Country and/or Sectoral levels.
- Develop strategies for harmonizing financial management approaches with other donors, playing a leading role in departmental or institutional task forces on developing and implementing policies and practices, FM safeguards and the efficiency and effectiveness of business processes.
- Act as resource person on financial management issues, providing interpretation of related Bank guidelines, resolution of complex financial management issues.
- Assist in the definition of the Bank strategy on supporting the accountability institutions as Professional Accountancy Organizations, Supreme Audit Institutions, Parliaments and Civil Society Organisations in close consultation with the International Federation of Accountants, the International Organization of Supreme Audit Institutions and other development partners;
- Develop training plans and materials for Bank staff on financial management policy and procedures issues;
- Contribute to the preparation of documents for consideration by the Board on financial management documents on policy and strategy;
- Contribute to preparing the Annual Report of the Bank and the various other bank reports;
- Report on the implementation of the financial management related Policy approved by the Board of Executive Directors.
Selection Criteria
Including desirable skills, knowledge and experience:
- A minimum of a Master’s degree or its equivalent in accounting, finance, business administration, economics or a related discipline and a minimum of a professional accounting certification (CPA, CA, ACCA, Expert Comptable);
- A minimum of eight (8) years of relevant experience, with particular expertise in designing, supporting and implementing financial management operations of which at least three (3) in international financial Institutions. The incumbent shall have a sound knowledge of the African Development Bank’s FM Policy and Procedures or other similar development institution. Experience in supporting private sector operations (banking, auditing, finance, microfinance institutions, agriculture, electricity, water) would be an added advantage;
- Proven ability to implement country or sector level financial management analytical and capacity building initiatives;
- An understanding of cross-cutting issues beyond financial management (e.g. procurement, governance, donors’ practices) at sector/country level;
- Good knowledge of International Financial Reporting Standards, International Public Sector Accounting Standards, International Standards on Auditing, International Standards of Supreme Audit Institutions;
- Good knowledge of key aid effectiveness issues especially harmonization of donors’ practices and alignment to borrowers systems;
- Communicate and write effectively in French or English, with a good working knowledge of the other language;
- Competence in the use of standard Microsoft Office Suite applications.
Method of Application
Interested and qualified candidates should:
Click here to apply online
Job Title: Senior Operational Risk Officer
Reference: ADB/18/164
Location: Côte d’Ivoire
Grade: PL5
Position N°: 50071251
The Complex
- The President, plans, supervises and manages the business of the Bank Group. Under the direction of the Boards of Directors, the President conducts the business of the Bank and the African Development Fund and manages operations and activities in accordance with the Agreements establishing the ADB and the ADF.
- The President supervises several Departments and Units including Office of the President (PRST0); Independent Development Evaluation Department (BDEV); Integrity and Anti-Corruption Department (PIAC); Compliance Review and Mediation Unit (BCRM); Secretariat to the Sanctions Appeals Board (BSAB); Administrative Tribunal (BATR); Office of the Auditor General (PAGL); Group Risk Management Directorate (PGRF); General Counsel and Legal Services Department (PGCL); Communication and External Relations Department (PCER); Staff Integrity and Ethics Office (PETH) and Office of the Secretary General & General Secretariat(PSEG).
The Hiring Department
- The Operational Risk Division (PGRF.2) is within the broad mandate of Group Risk Function which assesses all risks viz. credit, market and operational, measures their impact on the Bank’s risk bearing capacity and propose risk mitigation techniques. PGRF.2 has two main mandates: operational risk management and testing of internal controls.
- As part of its mandate to implement operational risk management framework within the Bank, PGRF.2 works with the various business units to identify, manage and mitigate risks which arise from inadequate or failed internal processes, people, and systems or from external events with potential financial impact or negative impact on the reputation of the Bank.
- PGRF.2 is responsible for implementation of COSO Integrated Internal Control Framework. The implementation of the COSO framework is intended to enhance the reliability of financial reporting, compliance with applicable laws and regulations as well as ensuring that the Bank’s operations are carried out in an effective and efficient manner. It provides the basis for the yearly management assertion on the effectiveness of internal controls over financial reporting (ICFR) on which the external auditors express their opinion.
The Position
The Senior Operational Risk Officer will:
- Assist in the implementation of the ORM framework including preparing related policies and procedures, engaging business units in identification and assessment of risks in the business processes of the Bank, assessment of controls instituted to mitigate those risks, working with business units to strengthen controls, monitoring operational risks, analyzing incidents, and identifying Key Risk Indicators (KRIs) for inclusion in the risk dashboard
- Assist in the implementation of the COSO Integrated Internal Control framework by mapping out financial statement processes, identifying inherent risks, and ensuring that adequate controls are put in place to mitigate those risks, and that controls are tested periodically to ensure that they are operating effectively. This will provide the basis on which external auditors will certified the effectiveness of internal controls over financial reporting as part of the yearly audit of the financial statements of the Bank.
Duties and responsibilities
Under the supervision and guidance of the Head, Operational Risk Management Unit the Senior Operational Risk Officer will:
Operational Risk Management:
- Assist in planning, managing, and providing ongoing support for the implementation of the Bank’s operational risk management framework;
- Assist in providing guidance and support to business and support units to ensure the successful management, identification, measurement and monitoring of the bank’s operational risk;
- Facilitate Risk and Control Self-Assessment (RCSAs) workshops for business units within the Bank, working with them to identify and monitor relevant Key Risk Indicators;
- Assist business units in developing Key Risk Indicators (KRI) for all key risks in the business and creation and reporting of KRI including thresholds in in the risk dashboard;
- Follow up with business units to design and implement controls and action plans that mitigate operational risks, thereby ensuring the effective running of the Bank’s business;
- Analyze operational risk incidents
- Prepare operational risk reports to management
- Any other related activity
Internal Control over Financial Reporting (ICFR):
- Assist in designing and preparing the Bank’s annual internal control work program using the COSO internal control framework and the Control Self-Assessment (CSA) process;
- Assist in periodic risk assessment exercise which identifies key financial statement processes, key risks embedded in those processes and key controls mitigating those risks, as a basis for designing annual control test plans and remediation plans;
- Champion the update of internal control documentation, perform walkthrough of controls and test key controls as part of the annual internal control attestation process;
- Design risk and control matrix for key business processes based on which a risk assessment exercise is conducted to determine key controls to be periodically tested;
- Use designed test scripts to test key controls identified during the risk assessment exercise and compile results of periodic tests of controls, working with business units to remediate ineffective controls;
- Report on the periodic review of control effectiveness by business units throughout the Bank and monitor the completion of internal control enhancement plans by organizational units throughout the Bank;
- Liaise with external auditors in certifying the effectiveness of the Bank’s internal controls over financial reporting as part of the annual audit of the Bank’s financial statements;
- Any other related activity
Selection Criteria
Including desirable skills, knowledge and experience:
- Master’s degree or equivalent in Accounting, Finance, Audit, Business Administration, or Economics; membership of an internationally recognized professional accounting body e. g. CA, CPA, ACCA, CIA, CISA or Expert Comptable is an advantage
- A minimum of 5 years of relevant professional experience, including audit/public accounting experience with a reputable firm and corporate financial reporting and controls systems;
- Knowledge and understanding of analysis of business processes, planning, work programming, budgeting and financial management
- Strong demonstrated experience in handling operational risk management as well as technical accounting and financial reporting issues
- Team working and interpersonal relations, Responsiveness and timeliness, Communication, Client Orientation and Problem solving
- Demonstrate an understanding of the COSO Integrated Internal Control framework and Operational Risk Management methodology
- Ability to work with little or no supervision in a multi-cultural environment and build effective working relations with clients and colleagues
- Ability to operate effectively in a demanding environment with tight deadlines, both with clients as with team members, requiring significant influence skills
- Fluency in English and/or French, with a good working knowledge of the other language.
- Competent in Bank’s standard software, including Word, Excel, Access, Visio, PowerPoint, and SAP, SUMMIT.
Deadline: 27th September, 2018.
Method of Application
Interested and qualified candidates should:
Click here to apply online
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