Job Details

Financial Management Specialist

 Description

Do you want to build a career that is truly worthwhile? The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty and promoting shared prosperity. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges.  For more information, visit www.worldbank.org.

Western and Central Africa (AFW) Region

We need the best and brightest talent focused on Sub-Saharan African countries in order to harness the potential and innovation happening across the continent. Africa is a continent on the move, with a young population and a growing market of nearly 1.2bn people. We are committed to making the Africa regional teams into leading innovation hubs.
Yet, these vast opportunities are tempered by persistent gaps in education, health, and skills, which have Africa only reaching forty percent of its estimated potential. Moreover, conflict, food insecurity, population growth, and the disruptive forces of climate change threaten to curtail or even reverse the progress that has been made over the past decades. 

In West and Central Africa, the World Bank is a leading partner with a growing portfolio of 350 projects totaling more than $38 billion in areas such as agriculture, trade and transport, energy, education, health, water and sanitation- all to support job creation, gender equality, poverty reduction, and better lives. Across the continent, the World Bank’s program has nearly doubled over the last 10 years. By 2030, about 87% of the world’s extreme poor are projected to live in Sub-Saharan Africa, so this is where our mission to end extreme poverty and to promote shared prosperity will be achieved. 
Are you ready to make an impact? We are looking for dedicated professionals to join our innovative and diverse team to improve people’s lives and help countries build back better after COVID.  

Western and Central Africa (AFW) Region: 
https://www.worldbank.org/en/region/afr/western-and-central-africa  

Regional Context

While the overall business climate in Africa is the weakest in the world, several countries including some fragile states have made great strides in improving their environment for business. What is emerging as a result is a growing region, with setbacks from time to time, that is increasingly seen as a destination for investment as much as for aid; and one where leaders are increasingly willing to address problems of poor governance that harms development effectiveness. More information on Africa: https://www.worldbank.org/en/region/afr 

Country Management Unit Context
The AWFC1 country management unit (CMU), covers 5 countries (Senegal, Cabo Verde, The Gambia, Guinea Bissau, and Mauritania), and delivers Advisory Services and Analytics (ASA) and lending services to these countries. 

Governance Global Practice (GP) Context

Our GP helps developing countries build capable, efficient, open, inclusive and accountable institutions that can support economic growth, reduce poverty, deliver needed services and earn the confidence of citizens. Our work encompasses public financial management, public procurement, civil service reform, open government, anti-corruption, and using technology to improve quality and access to government services. More information: https://www.worldbank.org/en/topic/governance 
The FMS will be under the supervision of the Governance Practice Manager for the EAWG1 Unit (Cabo Verde, Gambia, Guinea Bissau, Mauritania, Senegal, Chad, Guinea Conakry, Mali, Niger, Benin, Burkina Faso, Cote d’Ivoire, and Togo) and will contribute to our fiduciary program for AWFC1.  

Objective 

The FMS will provide Financial Management support to the Global Governance Practice (EAWG1) unit) working on the Senegal portfolio and possibly other countries within the Country Management Unit (CMU). S/he will be part of the FM team is expected to provide high-level technical support to the clients and Bank teams beyond the ordinary FM support. With overall guidance from the responsible portfolio FM senior specialist and coordinator, s/he is expected to (i) provide extended client FM hand-holding implementation support through the TTLs (ii) contribute to the projects PFM/FM arrangements and technical design (iii) operational support to the TTLs/ FM team including timely filing of all relevant FM documentation and updating of the FM system. 

Duties and Accountabilities

• Carry out financial management (FM) work for projects financed by the World Bank and provide advisory and technical assistance to internal and external clients. This will include, but is not limited to:
 o assessing the adequacy of project financial management arrangements for new and ongoing projects.
 o monitoring compliance with the Bank’s audit and fiduciary requirements.
 o ensuring that WBG-financed operations are carried out in accordance with applicable FM policies, procedures, and instructions, and supporting analytical work on FM and public financial accountability.
• Manage the preparation and supervision of assigned tasks and deliverables and ensure effective delivery of programs requested by the Country Management Unit.
• Generate and exchange knowledge relating to governance issues.
• Contribute to the organization of seminars/workshops on governance/financial management issues.

Selection Criteria

The successful candidate will be a professional with solid operational experience on public and private financial management. 

S/he will be selected on the basis of the following competencies:

General Competencies

• Written and Verbal Communication - Delivers information effectively in support of team or workgroup
• 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.
• Public Administration - Understands the overall dimensions and structures of the mechanics of government and its public administration, including domestic resource mobilization (especially tax policy and administration); public financial management, and service delivery).

Other Selection Criteria (Skills and Qualifications)

• The candidate should both have a Bachelors’ degree in accounting, business, finance, economics, and Masters’ degree in or in a related subject.
• A professional accountancy qualification (CPA, CA or equivalent) is mandatory. 
• At least 5 (five) years of relevant experience in financial management with a strong knowledge in financial management issues.
• Knowledge of the application of accounting, auditing and financial reporting systems and software packages. 
• Ability to review, analyze and evaluate financial statements and audit reports in diverse sectors and circumstances. 
• Experience with internal control systems and procedures (including familiarity with COSO), with the ability to assess such systems and recommend remedial action where necessary.
• Experience in evaluating financial management systems (including budgeting, accounting, cash management, internal audit and financial reporting systems).
• Experience in assessing auditor competence and independence;
• Experience in the design and implementation of computerized financial management systems;
• Experience in evaluating/interpreting financial statements and in determining appropriate remedial actions;
• Understanding of the budget formulation and execution processes, including treasury and cash management, as applicable to Bank-financed investment projects and public sector finance in general;
• Recognized as a results-oriented team player who is adaptable to changing business needs, takes initiative, can work independently, and can contribute to a diverse set of activities. 
• Knowledge of International Reporting Standards (IFRS) and International Standards on Audit (ISA). Knowledge of International Public Sector Accounting Standards (IPSAS) and the International Standards of Supreme Audit Institutions (ISSAI) would be an advantage;
• Proven analytical and problem-solving skills and a proven ability to apply these in gathering, recording and summarizing financial and other operational data. 
• Ability to work flexibly on a range of assignments, adjust to and prioritize a variety of complex evolving tasks and under pressure to meet deadlines. 
• Effective interpersonal skills to work with colleagues, clients, and donor counterparts.
• Excellent written and verbal communication skills in English and excellent written verbal communication and reading skills in French, 
• Knowledge of Portuguese would be an asset,
• Knowledge of operational experience in the Bank’s investment lending instruments would be an asset.
• Willingness to travel frequently, sometimes at a short notice.

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.