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Home > Jobs > Employment Opportuni... > Professional/Technical

Job #	082258
Job Title	Financial Management Specialist
Job Family	Financial Management
Location	Ulaanbaatar, Mongolia
Appointment	Local Hire
Job Posted	03-Nov-2008
Closing Date	21-Nov-2008
Language Requirements	English [Essential]; Mongolian [Essential]
Appointment Type	See Job Description Below

Background / General description

***THIS IS A 2 YEAR LOCAL APPOINTMENT IN THE WORLD BANK OFFICE IN ULAANBAATAR, MONGOLIA ***

Summary:

1.	The World Bank Office in Ulaanbaatar, Mongolia (WBOU) is looking for a Financial Management Specialist who is a professional accountant (CPA, CA or equivalent from a internationally recognized professional accounting institute) with a relevant bachelors degree in accounting, business, finance or economics, and at least 5 years of directly relevant experience in financial management (FM).  Public sector experience and the ability to read and speak Mongolian would be an advantage.

2.	The Financial Management Specialist (FMS) will be assigned to the World Bank Office in Ulaanbaatar, on a two-year term appointment.  The FMS will report to the Regional Financial Management Manager through the Financial Management Hub-Leader (FMHL) based in the World Bank Office in Beijing, China (WBOB).  The FMS is part of the FM team of the East Asia Pacific Region in Central Operational Services Unit (COSU) of the World Bank Office in Washington, DC which is headed by the Regional Financial Management Manager.

3.	Under supervision of the FMHL in Beijing and WBOU Country Manager, the FMS will assist the FM team in all FM aspects related to the World Bank’s operations in Mongolia and, from time to time, in other countries.  This will include, but is not limited to:  preparing and participating in supervision of projects financed by grants and loans; ensuring compliance with Bank’s audit and fiduciary requirements and ensuring that the projects’ operations are carried out in accordance with sound FM practices.

Duties and Accountabilities

As a member of FM team and Task Teams of the World Bank financed projects, the FMS:
•	Is responsible for fiduciary compliance taking all aspects of project accounting, audit management letter follow up, internal control reviews and SOE reviews in conjunction with disbursement and procurement staff.
•	Provides guidance and advice to borrowers and bank staff on capacity building, primarily in WB funded projects, and with public sector financial institutions, as well as private auditors.
•	Is responsible for ensuring Quality at Entry work on financial management assessments and preparedness of the implementing agency in respect to adequate accounting and internal controls that accord with the Bank's minimum standards.
•	On investment projects, assesses the adequacy of borrowers' project financial management and reporting systems, including accounting, financial reporting, auditing, internal and other control procedures; and the financial management skills, adequacy in numbers and suitability of project staff.
•	Conveys and advises borrowers and others on the Bank's financial management requirements, including monitoring and reporting criteria.
•	Assesses the selection and engagement of auditors, ensuring their suitability including their independence, and competence to perform; and ensures that the borrower provides auditors with all the relevant information (including TORs and the Bank's own requirements) necessary to carry out their engagement.
•	Provides technical guidance for the development of technical assistance programs and evaluates and monitor their implementation.
•	Assesses periodic project financial management reports for financial performance, linkage to physical and other monitorable indicators, and general compliance with financial covenants; Provides advice and support to task teams and the borrower on all matters affecting financial accountability including the work of consultants and other contractors providing advice and technical assistance, regarding Bank financial management and disbursement matters.
•	Advises on or approves borrowers' requests for disbursements including whether they should be approved, or reduced.
•	Assesses the financial and operational viability of an implementing entity (usually with respect to revenue earning entities), including financial sustainability, cash flow adequacy and risk assessment, and to advise on the design and use of financial performance covenants.
•	Participates in teams that carry out Country Financial Accountability Assessments .Provides relevant information on country specific issues to country units, sector staff and task teams on generic country specific financial management and disbursement issues.
•	Advises Bank staff and the Borrower on the Bank's loan administration procedures including the loan products available, and the operation of the Special or Designated Account.

Selection Criteria

The FMS should be a professional accountant (CPA, CA or equivalent from an internationally recognized professional accounting institute) with a Bachelors degree in accounting, business, finance or economics, and at least 5 years of directly relevant experience in financial management.  Candidates should have the following qualifications:
•	Knowledge of current issues in financial management, particularly relating to the public sector.
•	Ability to understand cross-cutting issues beyond financial management (e.g. procurement, governance, public sector management) at sector/country level.
•	Knowledge of International Accounting Standards/International Financial Reporting Standards and International Standards on Auditing.
•	Understanding of Bank policies and practices related to financial management including disbursement.
•	Strong planning, organization and time management skills to function in a team and contribute towards a common goal.
•	Knowledge of developing country issues as they relate to financial management.
•	Assess the quality of portfolio performance on financial management.
•	Proven ability to conceptualize, design and implement country or sector level financial management capacity building initiatives (e.g. CFAA, CDF).
•	Thorough understanding of Bank operations and procedures and familiarity with Board operations.
•	Experience in advising clients on the design and implementation of financial management systems, including financial and management reports.
•	Experience in interpreting financial and project management reports and determining remedial actions to be taken by the Bank or borrower.
•	Knowledge in the application of accounting, auditing and financial reporting systems and software packages.
•	Experience in designing and assessing internal control systems and procedures, using internationally accepted control frameworks such as COCO, COSO, Cadbury.
•	Ability to promote client/beneficiary participation and commitment to financial management and accountability throughout the project cycle.
•	Experience in evaluating audits, assessing auditor competence, and following up on issues raised by the audits.
•	Experience in financial statement analysis, their use in comparison with industry benchmarks and their application to particular circumstances.
•	Ability to manage multiple tasks and projects.
•	Ability to distill and disseminate financial management knowledge.
•	Ability to handle and resolve all but the most complex financial management issues.
•	Strong analytical capabilities and proven skills to deal with FM issues innovatively and independently.
•	Capacity to function as a member of a multi-disciplinary team, to search for common ground and where appropriate, to recommend decisive action.
•	Ability to communicate effectively, in writing and orally, including situations requiring negotiation with Borrower representatives.
•	Understanding of information systems and the application of new technology.
•	Ability to communicate effectively, in writing and orally, in English. It would be desirable to have the ability to communicate in Mongolian, and to hold discussions on substantive and difficult issues with senior government officials
•	Willingness to travel.

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