Associate Financial Control Officer

Job Vacancy | Friday, January 17, 2025

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  • Reference Number 250004 Position Level TL4 Department Controller's Department Division Trust Fund and Administrative Expense Division Location Asian Development Bank Headquarters Date Posted Friday, January 17, 2025 Closing Date Friday, January 31, 2025 11:59 p.m. (2359 Manila Time, 0800 GMT)

    Join Our Mission to Foster Prosperity in Asia

    Are you looking to have a lasting impact on the future of Asia and be a catalyst for positive change? We are thrilled to offer a unique opportunity to become an important part of the prestigious Asian Development Bank (ADB). At ADB, our mission is simple yet powerful: to alleviate poverty and promote sustainable development in the Asia-Pacific region.

    Organizational Setting and Reporting Relationship

    The position of Associate Financial Control Officer is assigned to the Trust Funds and Administrative Expenses (CTFA) Division within the Controller's Department (CTL). CTL's overall responsibility is to help maintain adequate and sound internal control of processes in ADB, and CTFA's responsibilities include accounting and preparing financial reports for trust funds under the Private Sector Operations Department (PSOD). You will be based at our Headquarters in Manila, Philippines.

    You will report to designated International Staff and Senior Officer.

    Your Role

    As an Associate Financial Control Officer, you will coordinate and support the overall PSOD fund management, administrative, and processing accounting activities relating to trust funds; establish and maintain sound accounting/internal controls and records; prepare financial and other reports; ensure the work objectives are accomplished timely and effectively.

    You will:

  • Review and analyze financial data, transactions and reports for accuracy, consistency and compliance with policies and established procedures; prepare and oversee the preparation of financial statements and other reports observing US generally accepted accounting principles; perform various financial analysis to monitor and report on the financial position of ADB's resources. You will help prepare reports and status updates to Management, help review ADB documents (board papers, concept paper, memorandum, etc.) and provide inputs related to accounting implications.
Participate in the implementation and enhancement of IT systems used for accounting and financial reporting; review and provide suggestions for enhancements in systems and processes for effective and efficient operations; ensure the accuracy and reliability of systems processes; coordinate changes and revisions to existing systems with the Information Technology Department (ITD) and maintain/update procedure manuals. Establish and maintain appropriate and adequate internal controls and procedures in preparing financial reports and analysis; recommend changes and improvements to ensure accurate, complete and timely accounting in compliance with applicable accounting policies and guidelines; monitor account balances to ensure appropriate accounting treatments are applied and respective statements/reports are received and reconciled timely and regularly; prepare and verify reconciliation reports of accounts; undertake investigation of discrepancies for review by supervising staff; compile, analyze and review financial and accounting data as a basis for the preparation of reports; ensure the accuracy, consistency and propriety of supporting documentation for accounting transactions in compliance with accounting practices, established procedures and guidelines. Contribute in reviewing, monitoring and developing accounting policies and positions in response to new developments in ADB and accounting standards. Perform administrative tasks, such as, allocating work to maximize the efficiency and productivity of the work area, and evaluating budgetary requirements; participate in procedural and organizational review; help create the goals and objectives and related plans and programs. Organize and extend guidance to assigned staff by allocating tasks, setting up target dates, and providing adequate technical and procedural guidelines to other Administrative Staff in order to ensure the work objectives and standards are met. Coordinate effectively with internal and external clients and provide required information observing established procedures. Perform any other assignments, including the preparation of draft memorandum and external correspondences for supervisor's review.

Qualifications

You will need:

Bachelor's degree in business administration, major in Accounting or Finance; Certified Public Accountant, preferably with advanced training. At least 5 years' experience in accounting, preferably in a computerized environment with some supervisory role, in a large organization. Experience with multilateral institutions products: loans, treasury investments, borrowings, equity investments, and guarantees. Experience with accounting policies, practices and general policies, procedures, guidelines and reporting requirements prevalent in a multilateral institution. Experience with the US GAAP and/or international financial reporting standards. In-depth understanding of the interactions between a multilateral institution's different work areas and workflows and their purpose, and business knowledge of relevant areas to enable accounting concepts to be applied appropriately. Proficient in standard software used in multilateral institutions, particularly, MS Excel and MS Word, and in-depth knowledge of a large Accounting system (e.g. Oracle ERP) and its interfaces with other systems and work areas. Experience with the concept of internal controls and their application. Analytical and systematic with strong numerical skills and attention to detail. Ability to plan and coordinate schedules in order to meet deadlines. Proven supervisory and interpersonal skills with an ability to provide feedback to team members and guide them to facilitate work planning, delivery and quality review. Ability to work collaboratively with teams as a constructive team member. Excellent oral and written communication skills in English. Please refer to the link for ADB Competency Framework for Technical Local grade TL4.

Benefits

ADB offers competitive compensation and a comprehensive benefits package. The salary will be based on ADB's standards and comparator markets, taking into account your qualifications and experience.

Paid leave (including parental) Medical and health benefits Life and other insurance plans Staff development Retirement plan Housing and education allowance (if applicable) Expatriate benefits (for international staff)

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Additional Information

This position is funded by a temporary funding source (e.g., a trust fund, financing facility, or capital expenditure budget) and therefore, the renewal of the appointment and its duration are subject to the availability of the funding source.

This is a fixed term appointment with option to renew for an initial period of three (3) years following Section 3.1 (b) of Administrative Order No. 2.01 (“Recruitment and Appointment’). This appointment is not convertible to a regular appointment. At the end of the initial period, this appointment may be renewed for a period of up to three years, or not renewed. There is no limit on the number of renewals. This appointment is open to internal and external applicants.

About Us

Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 69 members, 49 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under our Strategy 2030.

ADB only hires nationals of its 69 members.

To view ADB Organizational Chart, please click here.

ADB wants to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply.

Visit ADB Careers FAQ for more information.

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