Senior Financial Management Specialist (SARC), ORPF2 – The Procurement and Fiduciary Services Department (ORPF) reports to the Vice President, Country and Regional Programs & Policy (ORVP). The Department supports the Sector Departments in project cycle activities and in monitoring compliance in fiduciary safeguards related to the financial management of projects and programs on the one hand and procurement activities on the other. In addition, it is also responsible for engaging in framing financial management and procurement policies guidelines and rules. The Department is also mandated to provide training to Borrowers and to Bank staff relating to financial management and procurement. The Fiduciary Services Division (ORPF2) is responsible for all financial management issues of the Bank.
Duties and responsibilities
The Senior Financial Management Specialist will be based in Pretoria, South Africa and will report to the Manager, Fiduciary Services and will be supervised by the Regional Financial Management Coordinator for Southern African English Speaking Hub. He/she is expected to work with a team of Financial Management Specialists (CFMS) within the Southern Africa Region (Botswana, Lesotho, Namibia, South Africa, Sao Tome & Principé, Swaziland, Zimbabwe, Angola, Madagascar, Malawi, Mauritius, Mozambique and Zambia) in conducting (i) national or sector level fiduciary diagnostic work; (ii) operational support missions at the request of Project Team Leaders (PTL) throughout the project cycle; and (iii) technical support to improve borrowers’ financial management systems, including support for designing lending operations that focus on FM reform/development. Other specific duties and responsibilities include:
- Plan and prioritize FM work for assigned countries and communicate the same to Project Team Leaders, Country Managers, Regional FM Coordinator and the Fiduciary Services Manager.
- Take proactive role ensuring “Quality at Entry Work” in assessing the adequacy of the Borrowers’ project financial management systems and ensuring consistency and quality of FM aspects in project/program documents.
- Provide technical guidance within the framework of the Bank’s policies and guidelines to Project Team Leaders and Executing Agencies with respect to the financial management activities of projects and programs for the assigned countries.
- Manage the resolution of financial management issues, through interpretation of related Bank guidelines, international standards, or best practice.
- Provide financial management guidance for the development of technical assistance programs and evaluate and monitor their implementation.
- Carry out the fiduciary aspects of new areas of business 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.
- Represent the Bank in regional financial management and other relevant forums.
Including desirable skills, knowledge and experience
- A minimum of a Master’s Degree or its university equivalent in accounting, business, finance, economic or related subject.
- A professional accounting qualification (such as CPA, CA, ACCA, Expert Comptable or equivalent).
- A minimum of five (5) years of relevant experience, preferably with a donor organization working on public sector financial management.
- Knowledge of International Financial Reporting Standards, International Public Sector Accounting Standards and International Standards on Auditing is a requirement.
- Experience required in designing and assessing internal control systems and procedures using internationally accepted control frameworks such as COSO with the ability to assess such systems and recommend remedial action where necessary.
- Proven ability to conceptualize, design and monitor the implementation of country or sector level financial management capacity building initiatives.
- Demonstrate an understanding of cross-cutting issues beyond financial management (e.g. procurement, governance, public sector management) at sector/country level.
- Willingness and ability to travel frequently in the region.
- Superior written and verbal communication skills in English and/or French (with a working-knowledge of the other language).
- Competence in the use of Bank standard software (Word, Excel, Access, and PowerPoint).