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. For more information, visit https://www.worldbank.org
The World Bank is seeking a highly motivated and experienced Financial Management Specialist to provide fiduciary assurance for the portfolio of World Bank-financed operations in Ghana. The successful candidate will play a critical role in providing financial management expertise and support to various projects and programs aimed at fostering economic development and improving public financial management in Ghana. Some support may also be required for Liberia and Sierra Leone.
Duties & Responsibilities:
• The Financial Management Specialist (FMS) will ensure the compliance of World Bank-financed operations in Liberia with World Bank FM policies and procedures. He/she will act as ADM FMS for operations throughout the project/program cycle – in the design and implementation of financial management (FM) systems and processes for Bank-financed projects and programs.
• The FMS will be part of the Governance team based in including a Lead Public Sector Specialist and Quality Assurance Senior Financial Management Specialist, as well as other Public Sector and Financial Management Specialists based in Accra, Freetown, Monrovia and Washington DC, managed by the Practice Manager based in DC. Regular communication with the governance team and the Operations Manager on the FM performance in the portfolio is required.
• The FMS shall report any issues and concerns related to FM compliance, and request support and guidance as needed. The FMS may be assisted by other FMSs, FM Analysts, FM Consultants, Operations Analysts, Program Assistants, or DAIS staff.
In particular, the FMS will perform the following functions:
• Work as a core member of individual project teams, liaising closely with the Task-Team Leader(s), other team members, and government counterparts.
• Work as a core member of the Institutions team providing inputs to governance assessments and events and contributing to strategic discussions on financial management issues in the portfolio, public financial management issues in the country, and governance and anti-corruption risks more generally.
• Provide support to and guidance for the Country Manager’s consideration and to the Operations Manager as required, in line with guidance from the QA FMS and Practice Manager, on systemic issues.
• Generate and exchange knowledge relating to FM issues.
• Ensures compliance with the OPCS FM policies, directives, and guidance, monitors the resolution of exceptions in the portfolio with the ADM FMS, and implement a capacity-building plan to strengthen FM country system.
• The FMS will also contribute to analytical work and technical assistance in public financial management, corporate financial reporting (CFR) and State-owned Enterprises (SOEs) governance.
For pipeline operations:
• Conduct assessments of FM country systems (budget preparation, execution, accounting and reporting, internal and external audit) and FM capacity assessments of prospective implementing entities of new operations.
• Participate in the identification, preparation, appraisal, and negotiations missions.
• Assign project FM risk and propose FM implementation arrangements for all investment projects.
• Prepare financial systems assessments together with colleagues from the public sector and procurement and identify design issues and Program Action Plan actions to inform the preparation and implementation of Program for Results operations.
• Prepare timely and comprehensive FMS contributions to the Project/Program Concept Note (PCN) and Project/Program Appraisal Document (PAD).
For active operations:
• Review the implementation of project/program internal controls, and financial reporting systems.
• Review and approve ToR of Financial Officers to be hired by Project/Program Implementation Units (PIUs) and advise the TTL on the competency of the PIU’s selected candidate(s) prior to issuing ‘no objection’ to their recruitment. Review the performance of PIU Finance Officers and advise the TTL on contract renewal.
• Review the ToR for project/program internal and external auditors and review the selection to ensure adequate competence of the proposed auditors.
• Provide training and capacity-building support for project staff and counterparts in FM practices.
• Provide training and capacity-building support to implementing agencies project teams and stakeholders on FM-related matters.
• Regularly communicate and collaborate with project/program teams, government counterparts, and other stakeholders to ensure effective FM and accountability.
• Ensure timely execution and documentation of project/program payments and timely recruitment of external auditors prior to project closure. Identify any ineligible expenditure to be refunded to the Bank.
• Monitor and report on the financial performance of projects and programs to assure their compliance with WB FM policies and regularly assess project/program FM risks. Continue to oversee that all risks are mitigated effectively, and residual risks are monitored.
• Participate in Implementation Support missions and identifying and advise the TTL(s) on addressing any issues or risks. Contribute to Aides Memoires.
• Contribute to Implementation Supervision Reports (ISRs) and regularly update the FM performance and FM risk ratings in the Financial Management system and operations portal.
• Review project/program Interim Financial Reports (IFRs), Statements of Expenditure and other expenditure documentation, and audited annual financial statements.
• Participate in Country Portfolio Reviews and advise the CMU and Task Teams on possible improvements to FM arrangements to improve disbursement, reduce risks, and improve development outcomes.
For CFR and SOEs governance:
• Participate and contribute to analytical work and technical assistance, including assessments, technical advice, policy dialogue and hands-on support for relevant operations
At Impactpool we do our best to provide you the most accurate info, but closing dates may be wrong on our site. Please check on the recruiting organization's page for the exact info. Candidates are responsible for complying with deadlines and are encouraged to submit applications well ahead.
Before applying, please make sure that you have read the requirements for the position and that you qualify. Applications from non-qualifying applicants will most likely be discarded by the recruiting manager.