Financial Management Specialist

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

Assessing the adequacy of the borrower’s project financial management systems and ability to manage and monitor World Bank financed projects. This includes budgeting, policies and procedures, internal controls, accounting, financial reporting and auditing.

Carry out supervision work to ensure that projects 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 engagements.

Review audited financial statement received, monitor the borrowers compliance with financial statements including audit compliances, ensures adequate communication with the borrower and the project implementating agencies with respect to audits and advise as appropriate.

Provide advice and support to borrower and the World Bank Task teams on matters affecting financial management.

Provide guidance and advice to borrowers and bank staff on capacity building in projects and with public sector accountability institutions. Etc

 

The FMS should be a professional accountant (CPA, CA or equivalent) with preferably a master’s degree in accounting, business, finance or economics, and a minimum of 5 years of post-qualification experience in financial management, also the ideal candidates should have:

Knowledge of international accounting standards and international standards in auditing.

Experience and in-depth familiarity with public sector financial management (highly desirable)

Experience with internal audit and internal control systems and procedures (including familiarity with COSO) with the ability to assess such systems and recommend remedial action where necessary.