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The South Asia Region (Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka) is at a crucial stage of development. Rapid economic growth, driven by urbanization and demographic dividend, has brought down poverty rates, but severe forms of exclusion and disparities based on ethnicity, caste, and gender remain. Rapid growth has also come with congestion and pollution in cities. South Asia is more than other regions affected by changes in temperature and extreme weather events. Additional challenges are that South Asia is underperforming in exports, has large informal sectors and low female labor force participation rates. All these challenges must be addressed to secure rapid growth in coming decades. Private sector led growth, focused on investments in infrastructure, energy, logistics and cities are essential to generate the jobs needed to employ South Asia’s sizeable youth population. At the same time, the region needs to continue building human capital so that South Asia’s population is well equipped for the jobs of the future. 

The World Bank in South Asia: https://www.worldbank.org/en/region/sar

Unit Context:

The Financial Management (FM) unit within the Governance Global Practice (GGP) in Bangladesh has three primary functions: (i) delivering high-quality financial management services, including project preparation and implementation support for Bank-financed operations, and promoting the use of national Public Financial Management (PFM) systems to strengthen development outcomes; (ii) collaborating with partner countries to improve their PFM performance and capacity, in close partnership with other Global Practices (GPs) and regional and corporate Bank units; and (iii) supporting partner countries in advancing their professional accountancy institutions and enhancing corporate financial reporting standards, including accounting and auditing practices.

The Unit is seeking a Senior Financial Management Specialist (FMS) to be based in Dhaka at level GG for International Recruited Staff appointment. The Senior FMS will be part of the regional GGP team and report directly to the Unit’s Practice Manager based in Washington.

Duties and Accountabilities:

You will be under the supervision of the Governance Practice Manager for the ESAG1 Unit and will work in coordination with other ESAG1 team members based in Dhaka, Washington DC and in other country offices, as well as with colleagues from other Global Practices. Together with the Lead FMS, Senior FMS and FMS based in Dhaka, you will be responsible and accountable for operation-level financial management (FM) arrangements throughout the project cycle. Specific duties include:

• Undertaking FM assessments (covering project budgeting, internal controls, accounting, treasury, funds flow, financial reporting, auditing arrangements, and adequacy and suitability of project FM staff) for new projects.

• Providing FM implementation support (covering tests of transactions, reviews of interim financial reports and annual audited financial statements, problem solving) for ongoing projects and then updating the Bank’s automated FM monitoring systems on a timely basis.

• Monitoring ongoing project compliance with the Bank’s FM policies and procedures.

• Assessing audit firms/auditors’ independence, competence, and compliance with international auditing standards.

• Providing training, guidance, and advice on FM-related aspects to external clients (borrowers and project implementing agency staff) and internal clients (Bank staff).

• Engaging on disbursement support activities in relation to identifying bottlenecks to help flow of funds and implementation while ensuring that funds are being used for intended purposes.

• Contributing to, or leading, analytical or technical assistance work on public financial management issues including assisting countries in developing their professional accountancy institutions; in strengthening corporate financial reporting performance (including accounting and auditing standards); and supporting Supreme Audit Institutions to improve the quality and transparency of fiscal and financial information.

• Leading the design and implementation of public financial management reforms to support better transparency, accountability and use of country systems.

• Engaging in the anti-corruption agenda at the country, sector and project levels. This includes working with different internal and external stakeholders, such as Procurement, the Integrity Department (INT), sectoral colleagues, Supreme Audit Institutions, etc.

• Participating in country-level portfolio activities such as Country Portfolio Performance Reviews and risk-review meetings.

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