Financial Control Specialist at Asian Development Bank

Manila, Metro Manila, Philippines -

Full Time

Start Date

Immediate

Expiry Date

05 Jul, 26

Salary

0.0

Posted On

06 Apr, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Financial control, Loan disbursement, Grant administration, Accounting, Reconciliation, Audit sampling, Financial reporting, Project management, Capacity building, Team leadership, Policy compliance, Risk management, Stakeholder management, Data integrity, IT systems management

Industry

International Trade and Development

Description

Join Our Mission to Foster Prosperity in Asia Are you ready to make a difference in the future of Asia and be a catalyst for positive change? We are thrilled to offer a unique opportunity to become an important part of the prestigious Asian Development Bank (ADB). At ADB, our mission is simple yet powerful: to alleviate poverty and promote sustainable development in the Asia-Pacific region. Organizational Setting and Reporting Relationship The Financial Control Specialist position is part of the Loan and Grant Disbursement Section (CTLA-LGD) within the Loan Administration Division (CTLA) of the Controller's Department (CTL). You will be based at our Headquarters in Manila, Philippines and relocation is required. All reasonable relocation expenses will be covered. You will report to the Assistant Controller of CTLA and oversee technical local staff. Your Role As a Financial Control Specialist, you will approve disbursement claims, provide guidance on disbursement arrangements and procedures, and disbursement-related issues for sovereign loans and grants, in compliance with ADB policies. You will: Approve disbursement for ADB's sovereign loan and grant projects and programs, in compliance with ADB policies, within service level standards. Approve disbursement related to the letter of credit through the SWIFT message. Oversee proper liquidation of outstanding advances, reconciliation of advance accounts, advance account turnover, disbursement ratio. Review transactions on the Statements of Expenditures (SOE) using audit sampling method. Provide review and advice on draft board papers and loan/grant project documents for new projects, including financing plan, funds flow and disbursement arrangements, to ensure those align with ADB policies. Participate in loan/grant negotiations with borrowers. Review and provide expert views on policy documents related to sovereign operations and disbursement. Provide advice to borrower's executing agencies (EAs), operational departments and Resident Missions (RM) during project implementation. Advice may include project management actions and disbursement-related issues, such as outstanding advance, refund, counterpart funding, cofinancing, toward completion and closure of loan and grant accounts. Deliver capacity building seminars for EAs to familiarize them with ADB policies, working together with RM staff. Conduct disbursement missions and provide consultations and advice to resolve disbursement-related issues. Ensure data integrity of disbursement related systems, paying attention to project milestones events such as loan/grant effectiveness, completion and closing date. Recommend improvements to disbursement processes and related IT systems, ensuring efficiency and internal controls. Represent CTL on ADB-wide activities, including participating in working groups and committees, and contributing expertise to cross-departmental collaborations. Provide leadership to reporting staff working in the headquarters and multiple RM, by supervising performance providing constructive feedback and encouraging professional development. You will need: A University degree in accounting, finance, or business administration; preferably at post-graduate level or its equivalent and a professional certification (e.g. Chartered Accountant, Certified Public Accountant, or equivalent). At least 6 years of relevant professional experience in a specialized area or broad knowledge across multiple areas with a deep proficiency in at least one, including international experience working in several countries. Proficient in enterprise IT platforms related to accounting, auditing, finance or disbursement. Experience with internal controls and business process concepts, and standard policies, procedures, guidelines, and reporting requirements in international/multilateral institutions. Analytical and numerical skills, and organizational abilities in banking, financial institutions, or international and multilateral organizations. Demonstrated team leadership or managerial experience leading professionals and teams and providing guidance on the delivery of outputs. Written and verbal proficiency in English. Please refer to the link for ADB Competency Framework for TI1. Benefits ADB offers a rewarding salary and a comprehensive benefits package. The salary will be based on ADB's standards and comparator markets, taking into account your qualifications and experience. Housing and education allowance Expatriate benefits Retirement plan Medical and health benefits Paid leave (including parental) Life and other insurance plans Staff development Additional Information This appointment is open to internal and external applicants. This is a fixed-term appointment for an initial fixed period of 3 years. At the end of the initial period, this appointment may, at the option of ADB, be extended once for up to 2 years, converted to a regular appointment, or ended on its expiration date. This decision will be made in the overall interest of ADB that: (a) it will require Staff’s particular blend of skills and experience in the foreseeable future; and (b) Staff’s performance is satisfactory and they are suitable for further employment. 1) Multiple positions at various grades may be filled from this opening. 2) Actual position title and grade will be based on your qualifications, experience and job scope that will be assigned to the selected candidates. About Us ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is headquartered in Manila and owned by 69 members—50 from the region. ADB only hires nationals of its 69 members. To view ADB Organizational Chart, please click here. ADB wants to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply. Visit ADB Careers FAQ for more information. #LI-Onsite

Responsibilities

The Financial Control Specialist is responsible for approving sovereign loan and grant disbursements while ensuring compliance with ADB policies and service standards. They also provide expert advice to executing agencies, oversee financial reconciliation, and lead teams across multiple locations.