Senior Financial Management Specialist

Senior Financial Management Specialist

Job #:
req19221

Organization:
World Bank

Sector:
Financial Management

Grade:
GG

Term Duration:
4 years 0 months

Recruitment Type:
International Recruitment

Location:
Washington, DC,United States

Required Language(s):
English

Preferred Language(s):

Closing Date:
10/13/2022 (MM/DD/YYYY) at 11:59pm UTC

Description

Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. Visit www.worldbank.org.

Operations Policy and Country Services (OPCS) plays a pivotal role in achieving the WBG's mission, being at the center of operations. OPCS develops and oversees Bank operational policies and procedures for country engagement products, lending operations, advisory services and analytical support, financial management, procurement, environmental and social safeguards, as well as development outcome risk and results. It also serves as a link between the Operational units and the Board of Directors. OPCS provides advice and support to World Bank management and staff as well as hands-on assistance to help teams apply the Bank's policies, processes, and risk management tools for our country clients.

Working in OPCS helps World Bank professionals gain broad exposure to strategic operations issues and develop a deeper understanding of the business of the Bank.

OPCS's 160 staff are organized in four departments:

• Operations Policy (OPSPO) supports the Bank's operations and country strategies The OPSPO work program consolidates the corporate support and oversight of country strategies and all financing instruments
• Operations Standards, Environment and Social (OPSES) is responsible for Environmental and Social Standards and Safeguard Policies, including support to operations, learning and training, knowledge management, reporting, interface with the Inspection Panel, and management of the Grievance Redress Service (GRS)
• Operations Strategy, Risk, Results and Learning (OPSRL) focuses on overall Bank strategy; risk management in operations; support to the country directors' and management communities; corporate-level results reporting; strengthening results and effectiveness throughout the institution; and operational learning
• Operations Standards, Procurement and Financial Management (OPSPF) is responsible for procurement, financial management, UN agencies and anti-corruption

Department/Unit Context

OPSPF is responsible for the policy frameworks for Financial Management (FM), procurement, and anti-corruption that is integrated with, and supportive of, the overall corporate risk management and for World Bank operations. The Department houses the Standards and Accreditation Panels for FM and Procurement. It also houses Global Support Team on UN Agencies Engagement under WB-financed Operations. It coordinates the corporate interface between Operations and the Group Internal Audit (GIA) and Integrity Vice Presidency (INT). It also provides the corporate-level liaison with other corporate units such WFA, for disbursement-related matters; and with DFi involved with policy and fiduciary oversight for loans and trust funds. The scope of work of the Department includes leading relevant policy reforms and reviews; interpreting operations policy; advising sr. Management; supporting teams by developing and updating operations guidance and tools; prioritizing and implementing simplification efforts; overseeing the quality of FM and PR products and services; and providing corporate support for high-risk activities. OPSPF is involved in several reforms that have a considerable impact on the Bank's policies and procedures and in that light its work contributes significantly to the Bank's change agenda. OPSPF plays a key role in supporting the implementation of the WBG objectives, including alignment with and support for institutional priorities such as FCV and greater use of technology to achieve development results. Given OPSPF's mandate to ensure technical excellence of well-established functions, notably FM and Procurement, the Department carries out a range of corporate functions - including coordinating with Regions, Practice Groups and other corporate units to help frontline staff deliver to clients; and also takes the lead or contributes to special assignments with high corporate visibility or sensitivity.

Among the OPSPF Units, OPSFM comprises the following activities and programs: Financial Management, Anticorruption in Operations, and the UN Agencies Engagement under WB-financed Operations (UN Program).

Note: This requisition is posted internally for WBG and IMF staff only. External candidates are requested not to apply. In case an external candidate applies, their application will be rejected.

Duties and Accountabilities

OPSFM is seeking to recruit an experienced, high-performing Senior Financial Management Specialist (Sr. FMS), who is FM accredited and possesses adaptability and flexibility to provide intellectual and operational vision and follow-through of policy applied to the Bank's fiduciary agenda.

This is an assignment for an experienced and highly motivated staff with deep operational experience in the areas of integrated risk management, fiduciary aspects of different Bank's lending instruments (with specific application in IPF operations), and interested in developing innovative tools, such as use of new technology) and of systematic approaches.

The selected candidate will be based at HQ (Washington DC), reporting to the OPSFM Manager, and will work closely with colleagues across OPSPF as well as with the other three Departments in OPCS and with other relevant stakeholders both within (namely, Regions, the Governance Global Unit, WFA, and INT) and outside the Bank (e.g., development partners, accountability, and oversight institutions). Specifically, he/she will contribute to relevant aspects related to OPSPF role in the World Bank's financed operations - this will include, but is not limited to, simplifying processes and procedures to help clients get faster results; and measuring progress towards the Bank Group's goals.

Working in OPSPF helps World Bank professionals gain broad exposure to strategic operations issues and develop a deeper understanding of the business of the Bank. The successful applicant will work with the broader OPSPF Team, including colleagues in charge of procurement, anti-corruption, UN Agencies Program, as well as Administrative and Client Service (ACS) staff.

The Sr. FMS will collaborate closely with the Manager. He/she is expected to perform a full range of operational duties, working under minimal supervision, and to take a leading role in the following tasks:

• Modernization and Simplification
  • Strategy : provide intellectual leadership, operational vision and follow-through on the Bank's fiduciary framework and related strategic directions.
  • Policy: Provide inputs to Board Papers, Guidance, Good Practice and Reference materials that relate to DPFs, IPFs, TFs, MPAs and CPFs, and advise on the approval of policy waiver requests.
  • Systems: Lead the information system agenda as OPSPF focal point for the FM System, Audit Report Review Tool (ART) and FM Standard Reports, for all implementation activities, including development and prioritization of system enhancements, testing and sign off of new system tools, roll out and communication of system features including organizing dedicated information sessions and support to the front-line users. Lead the design, development and implementation of new technology-based solutions to support FM work.
  • Training and Staff Learning: Provide inputs to and deliver training on FM related topics in OLC Curriculum and Core Academy as needed. Contribute to the maintenance and update of the FM e-learning as needed.
• Fiduciary Oversight and Risk
  • Corporate reviews: Carry out corporate reviews, as assigned. This may require attending relevant meetings (such as Review Meetings, Decision Meeting, ROC/OC Meetings)
  • Fiduciary Risk: Lead the FM High Risk Operations exercise, provide inputs to the corporate risk list review (monthly) and to Board engagements, e.g., QBRR and Operational Updates preparation (quarterly).
  • FM Accreditation: Support OPSPF FM Accreditation function including maintaining/updating records, liaising with ITS/OLC and others to secure proper access to FM system and provide oversight of FM Accredited status for staff.

To deliver on the above tasks, the Sr. FMS will:

• Utilize data analysis, prepare technical notes and presentations, contribute to the expansion and improvement of the systematization of tools across the institution, explore use of innovative technologies and opportunities to support WB's fiduciary work and improve Bank/clients performance.
• Utilize dashboards, KPIs and other data visualizations tools to monitor FM quality, compliance, risk and performance and propose corrective measures to ensure quality of implementation of Bank's operations in all aspects related to FM.
• Identify and advise on best practices in financial management at the global level, providing contributions for strengthening financial administration and control systems.
• Provide technical and strategic advice to internal clients and development partners regarding the financial and institutional fiduciary requirements including the efficient use of resources and managing internal controls and assurance function.
• Contribute to knowledge management and dissemination in the area of financial management, in close collaboration with experts across the Global Practices, Regions and other internal partners.
• Facilitate and promote cross-cutting collaboration with development partners in financial management, including diagnostic work, capacity building initiatives, use of country systems and convergence of fiduciary practices.
• Contribute to the preparation of the OPSFM's business plan and annual work program.
• Represent OPSFM in senior level meetings and working groups as required.
• Mentor staff, both participating in peer support opportunities and help developing more junior colleagues. This is key, since OPSFM leverages itself by being inclusive, bringing in staff from Regions/GPs/other corporate Units to deliver on institutional activities and mandates.

Selection Criteria

The candidate should be a professional accountant (CPA, CA, ACCA or equivalent) with an internationally recognized designation by the International Federation of Accountants. The candidate should also have a master's degree in Accounting, Business, Finance or other relevant discipline and should have at least eight years of relevant experience in financial management, that preferably includes expertise in the public sector. The candidate should have demonstrated ability to use technology for analytical and strategic work, interpersonal skills with the ability to work independently with a variety of internal and external stakeholders, the ability to communicate complex information in a succinct and impactful manner.

Required Competencies

Technical Competencies

• At least eight years of relevant experience in the area of project financial management, public financial management and control systems such as accounting and internal and external auditing and related information systems.
• FM function dialogue and policy advice - Familiarity with policy-related activities and associated dialogue in financial management, including policy interpretation and application, disseminating good practice and helping stakeholders implement appropriate fiduciary strategies.
• In-depth knowledge of and experience in the various dimensions of the FM cycle (budget formulation, execution, controls, accounting and reporting, auditing and oversight).
• Advanced knowledge of all aspects of fiduciary management: among others (a) knowledge of International Financial Reporting Standards and International Standards on Auditing; (b) experience with internal control systems and procedures (in particular the COSO framework); (c) extensive experience in auditing including assessing auditors' competence; and (d) experience in advising clients on the design and implementation of FM systems, including financial and management reports.
• Advanced knowledge of the Bank's Systematic Operations Risk Rating Tool (SORT) and related guidance as well as experience with FM risk rating and mitigation across operational instruments.
• Broad operational project management experience - Demonstrates in-depth knowledge and understanding of project design, management and oversight tools and methodologies, as well as Bank instruments and processes related to project preparation and implementation, including stakeholder communications.

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, ensuring sufficient collaboration where necessary.
• Knowledge, Learning and Communication - Leads in the sharing of best practices, 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 - Gathers inputs, assesses risk, considers impact and articulates benefits of decisions for internal and external stake holders over the long term. Has the confidence to make appropriate decisions balancing speed and thoroughness even when there is a reasonable level of uncertainty. Has the judgment and experience to know when to act and when to seek support or to escalate the issue.

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.