Financial Management Specialist
The World Bank is looking for a qualified Financial Management Specialist (FMS) who is a professional accountant (CPA, CA or equivalent), with a relevant bachelors degree in accounting, business, finance or economics, and at least 5 years of relevant experience in financial management (FM). Experience in Public Financial Management would be a distinct advantage.
The FMS will report to the Washington-based Practice Manager in charge of the implementation of FM policies who is part of the Governance Global Practice. The FMS will work from the Lusaka office of the World Bank, and assist in all financial management (FM) aspects related to the World Bank’s operations primarily for Zambia but also for other countries assigned to him/her. The FMS will function as a member of the various Task Teams of the World Bank financed projects, and in addition lead special purpose initiatives.
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 year term appointment.
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 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 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 advise as appropriate;
• Provide advice and support to Borrower and the World Bank Task Teams on matters affecting 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;
• Support the implementation of the Government’s PFM action plans, and provide technical advice to the Government in the implementation of reform actions;
• As requested by the Practice Manager, undertake other activities, as appropriate.
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