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JOBS

Employment Opportunities at World Bank Group

NAFASI ZA KAZI BENKI YA DUNIA

JOB #: 171007
JOB TITLE: Financial Management Specialist (2 positions)
JOB FAMILY: Financial Management
JOB TYPE: Professional & Technical
GRADE: GF
LOCATION: Dar Es Salaam, Tanzania
RECRUITMENT TYPE: Local Hire
LANGUAGE REQUIREMENT: English [Essential]
CLOSING DATE: 08-Jun-2017


Background / General description:


THE WORLD BANK GROUP 


Established in 1944, the WBG is one of the world’s largest sources of funding and knowledge for development solutions.
In fiscal year 2014, the WBG committed $65.6 billion in loans, grants,
equity investments and guarantees to its members and private businesses,
of which $22.2 billion was concessional finance to its poorest members.
It is governed by 188 member countries and delivers services out of 120
offices with nearly 15,000 staff located globally. 



The
WBG consists of five specialized institutions: the International Bank
for Reconstruction and Development (IBRD), the International Development
Association (IDA), the International Finance Corporation (IFC), the
Multilateral Investment Guarantee Agency (MIGA), and the International
Centre for the Settlement of Investment Disputes (ICSID). IBRD and IDA
are commonly known as the World Bank, which is organized into six
client-facing Regional Vice-Presidencies, several corporate functions,
and – as of July 1, 2014 – has introduced fourteen Global Practices
(GPs) as well as five Cross-Cutting Solution Areas (CCSAs) to bring
best-in-class knowledge and solutions to regional and country clients.





GLOBAL PRACTICES & CROSS-CUTTING SOLUTIONS AREAS
The
14 GPs are: Agriculture; Education; Energy and Extractives; Environment
and Natural Resources; Finance and Markets; Governance; Health,
Nutrition and Population; Macroeconomics and Fiscal Management; Poverty;
Social Protection and Labor; Social, Urban, Rural and Resilience; Trade
and Competitiveness; Transport and ICT; and Water. The 5 CCSAs are:
Climate Change; Fragility, Conflict and Violence; Gender; Jobs; and
Public-Private Partnerships.  The new operating model is part of a
broader internal reform aimed at delivering the best of the World Bank
Group to our clients, so that together we can achieve the twin goals of
(1) ending extreme poverty by 2030, and (2) promote shared prosperity
for the bottom 40% of the population in every developing country.



THE GOVERNANCE GLOBAL PRACTICE
An
effective and accountable governance framework, in the form of
functioning institutions, is a necessary precondition for sustainable
poverty reduction. Fragile, ineffective, weak and/or inexistent
institutions have long been put forward as explaining the relative
underperformance of economies. Furthermore, poor governance and
structural deficiencies in public and private institutions are often
prevalent in fragile and conflict affected states. On the other hand,
cross-country empirics have confirmed that higher institutional quality
is correlated with higher levels of per capita income and greater
economic growth. Thus, governance mechanisms and institutions are
critical to sustained growth and poverty alleviation. The Governance
Global Practice (GGP) comprises a variety of different professional
disciplines working on public institutions, including public sector
management, governance and anti-corruption, procurement, financial
management, social accountability and justice reform. The GGP has the
following three departments:




Financial Accountability and Reporting (FAR) Group that focuses on
transparency, financial accountability, and financial reporting in the
private and public sectors. This also includes accountability of
institutions, oversight bodies and regulators, as well as financial
management functions of Bank-funded operations. 


Public Sector and Institutions (PSI) Group that focuses on key areas
that underpin public sector and institutional reform. This group also
focuses on high priority cross-cutting issues such as revenue
mobilization, global tax issues and fiscal decentralization, civil
service reforms, open government, and justice for the poor


Solutions and Innovations in Procurement (SIP) Group that focuses on
advancing modern and open procurement systems, integrity in procurement
and its fiduciary functions.  

The
GGP interventions range from diagnostics, technical assistance, and
advisory services, learning, innovation and knowledge management and
sharing, creating peer learning platforms, lending and project
implementation support, and monitoring and reporting.  An important part
of its responsibilities is to deliver operational support to other
Practices, including through inputs for policy-based operations,
hands-on implementation advice and direct fiduciary due diligence of
investment financing.

The
World Bank Group is looking for 2 (two) Financial Management
Specialists (FMS) for the Tanzania Country Office, who is a qualified
professional accountant (CPA, CA or equivalent membership of an
internationally recognized professional accounting institute) with a
Bachelor’s degree in accounting, business, finance, economics or related
subject and, at least, 5 (five) years of
post-professional-qualification experience in auditing or financial
management. Familiarity with public sector financial management would be
a distinct advantage.





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 2 year term
appointment.



Duties and Accountabilities:


As
a staff member reporting to the Global Governance Practice Manager in
the Africa (AFR) Region, the FMS will be part of the AFR-GGO31 Financial
Management Team. The successful applicant will work with teams in the
Dar es Salaam Country Office including colleagues in procurement,
disbursements, other Global Practices/Cross-Cutting Solutions Areas
(CCSA).



The
FMS will assist in carrying out financial management (FM) work in
respect of projects financed by the World Bank Group and also assist in
advisory and technical assistance tasks. This will include, but is not
limited to, assessing the adequacy of project financial management
arrangements for new and ongoing projects; monitoring compliance with
the Bank’s audit and fiduciary requirements; ensuring that WBG-financed
project operations are carried out in accordance with applicable FM
policies, procedures, and instructions; and supporting analytical work
on FM and public financial accountability. 



The
specific duties and responsibilities of the FMS will be agreed with the
Global Governance Practice Manager – Financial Accountability and
Reporting (FAR) -GGO31. He/she is expected to perform a full range of
operational FM duties, working under the supervision of a more senior
staff. He/she will take a leading role in the following tasks:


Carry out FM assessments for new projects and FM supervision
assessments for ongoing projects covering project budgeting, internal
controls, accounting, treasury/funds flow, financial reporting, and
auditing arrangements including adequacy and suitability of project FM
staff.

• Monitor on-going compliance by projects with the Bank’s FM policies and procedures.
• Monitor borrower’s compliance with financial covenants including audit.

Conduct internal control reviews and Statement of Expenditures (SOE)
reviews, in conjunction with disbursement and procurement staff, to
determine eligibility of expenditures for Bank financing.

• Review periodic Interim Financial Reports (IFR).

Review annual audited financial statements, audit reports, and audit
management letters and prepare appropriate letters for communication
with the project implementing agencies.

• Update the Bank’s automated PRIMA system on a timely basis.

Provide inputs into diagnostic work in Public Financial Management
(PFM), Systematic Country Diagnostics (SCD), and Country Partnership
Frameworks (CPF).


Assess audit firms/ auditors in terms of independence, competence,
compliance with International Audit Standards, adequacy of working
papers etc.




Provide training, guidance, and advice on FM related aspects to the
staff of project implementing agencies and Bank Task Teams.



Selection Criteria:


The
candidate should be a qualified professional accountant (CPA, CA or
equivalent membership of an internationally recognized professional
accounting institute) with a Bachelor’s degree in accounting, business,
finance, economics or related subject and at least 5 (five) years of
post-professional-qualification (after qualifying as a professional
accountant) experience in auditing or financial management. Familiarity
with public sector financial management would be a distinct advantage.

Fluency in English, both oral and written, is necessary.  


Willingness and ability to travel frequently, sometimes at a short notice.


Technical and other skills

Knowledge of International Financial Reporting Standards (IFRS) and
International Standards on Auditing (ISA). Knowledge of International
Public Sector Accounting Standards (IPSAS) and the International
Standards of Supreme Audit Institutions (ISSAI) would be an added
advantage.

• Experience in designing and assessing internal control systems using internationally accepted control frameworks such as COSO.

Experience in evaluating financial management systems (including
budgeting, accounting, cash management, internal audit, 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.
• Experience in evaluating audit reports / management letters, following up on issues resulting from the audits.

Understands the budget formulation and execution processes, including
treasury and cash management, as applicable to Bank-financed investment
projects and public sector finance in general.

• Strong analytical capabilities.
• Strong planning, organization, and time management skills.

Capacity to function effectively as a member of a multi-disciplinary
team, ability to search for common ground to resolve problems.

• Ability to communicate effectively, in writing and orally.


Behavioral Competencies

Client Orientation – Maintains client relationships in the face of
conflicting demands or directions and provides evidence-based advice and
solutions based on sound diagnosis and knowledge.


Drive for Results – Identifies the needed resources to accomplish
results involving multiple stakeholders and finds solutions to obstacles
affecting key deliverables.


Teamwork and Inclusion – Shows leadership in ensuring the team stays
organized and focused, and actively seeks and considers diverse ideas
and approaches.


Knowledge Learning and Communication – Leads in the sharing of best
practice, trends, knowledge and lessons learned across units and with
clients and partners, articulating ideas verbally and in writing in a
clear and compelling way across audiences of varied levels.


Business Judgment and Analytical Decision Making – Serves as a trusted
advisor to others on their decisions, ensuring alignment across units
and optimal impact on the organization as a whole.





The
World Bank Group is committed to achieving diversity in terms of
gender, nationality, culture, and educational background. Individuals
with disabilities are equally encouraged to apply. All applications will
be treated in the strictest confidence.



APPLY ONLINE


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