The World Bank Group Senior Financial Management Specialist Job in Nairobi, Kenya

The World Bank Group
 

Job Title: Senior Financial Management Specialist
 

Grade: GG
 

Location: Nairobi, Kenya
 

Background / General description: Established in 1944, the WBG is one of the world’s largest sources of funding and knowledge for development solutions. 

In fiscal year 2014, the WBG committed $65.6 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $22.2 billion was concessional finance to its poorest members. 

 

It is governed by 188 member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.

The WBG consists of five specialized institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). 

IBRD and IDA are commonly known as the World Bank, which is organized into six client-facing Regional Vice-Presidencies, several corporate functions, and – as of July 1, 2014 – has introduced fourteen Global Practices (GPs) as well as five Cross-Cutting Solution Areas (CCSAs) to bring best-in-class knowledge and solutions to regional and country clients.

Global Practices & Cross-Cutting Solutions Areas
 

The 14 GPs are: Agriculture; Education; Energy and Extractives; Environment and Natural Resources; Finance and Markets; Governance; Health, Nutrition and Population; Macroeconomics and Fiscal Management; Poverty; Social Protection and Labor; Social, Urban, Rural and Resilience; Trade and Competitiveness; Transport and ICT; and Water. 

The 5 CCSAs are: Climate Change; Fragility, Conflict and Violence; Gender; Jobs; and Public-Private Partnerships.  

The new operating model is part of a broader internal reform aimed at delivering the best of the World Bank Group to our clients, so that together we can achieve the twin goals of (1) ending extreme poverty by 2030, and (2) promote shared prosperity for the bottom 40% of the population in every developing country.

The Governance Global Practice
 

An effective and accountable governance framework, in the form of functioning institutions, is a necessary precondition for sustainable poverty reduction.  

Fragile, ineffective, weak and/or inexistent institutions have long been put forward as explaining the relative underperformance of economies. Furthermore, poor governance and structural deficiencies in public and private institutions are often prevalent in fragile and conflict affected states. 

On the other hand, cross-country empirics have confirmed that higher institutional quality is correlated with higher levels of per capita income and greater economic growth. Thus, governance mechanisms and institutions are critical to sustained growth and poverty alleviation.

The Governance Global Practice (GGP) comprises a variety of different professional disciplines working on reforms of public institutions, including public sector management, governance and anti-corruption, procurement, financial management, social accountability and justice. 

The GGP interventions range from diagnostics, technical assistance, and advisory services, learning, innovation and knowledge management and sharing, creating peer learning platforms, lending and reform project design and implementation, and monitoring and reporting.  

An important part of its responsibilities is to provide operational support to other Practices, including through inputs for policy-based operations, hands-on implementation advice and direct fiduciary due diligence of investment financing through its financial management and procurement staff.

Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 2 year term appointment.

Duties and Accountabilities: The World Bank is looking for one Senior Financial Management Specialist (SFMS) who is a professional accountant (CPA, CA or equivalent), with a relevant advance degree in accounting, business, finance or economics, and at least 8 years of relevant experience in financial management (FM). 

Experience in Public Financial Management would be a distinct advantage. As an experienced staff member reporting to the Governance Practice Manager for the Africa Region (East Africa), the Senior FMS will be part of the Financial Management Team and the Somalia Country Team. 

The successful applicant will work with the teams in the Somalia Country Office, including, Administrative and Client Service (ACS) staff, as well as colleagues in charge of procurement, disbursements, other GGP departments and other Practices/Cross-Cutting Solutions Areas (CCSA). 

The Senior FMS will lead in all financial management (FM) aspects related to the World Bank’s financed operations, and will manage advisory and technical assistance tasks. 

This will include, but is not limited to: assessing the adequacy of project financial management arrangements, participating in implementation support missions projects financed by loans, credits and grants including Trust Funds; ensuring compliance with the Bank’s audit and fiduciary requirements, ensuring that the projects operations are carried out in accordance with sound FM practices and performing analytical work on FM and financial accountability issues in support of building client capacity. 

The SFMS will work from the World Bank Kenya Country Office, and will be responsible for all financial management (FM) aspects related to the World Bank’s operations for Somalia and other countries as necessary. 

Scope of Responsibilities:
 

The specific duties and responsibilities of the Senior FMS will be agreed with the Governance Practice Manager responsible for, inter alia, Somalia.  

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 and responsibilities:

• Ensure delivery of quality FM services on projects, to support the achievement of project development objectives.  This includes responsibility for timely delivery of the FM fiduciary work program, adequate work planning and assignments among the FM team, providing technical oversight and guidance, monitoring the quality, relevance and timeliness of FM inputs, providing input on budget and work program discussions, and participating in Somalia the country team meeting. 

• The Senior FMS will be expected to take a lead role in the FM aspects of preparation and supervision of projects in Somalia and may be asked to participate in high visibility, complex, and sensitive projects in other countries.

• Strengthen FM performance of Bank-financed operations and enhance country’s capacity to effectively use and manage public funds to achieve development results, and lead the development and implementation of approaches to make greater use of country systems for Bank-assisted operations;

• Take the lead in reviewing audited financial statements received, monitor the Borrower’s compliance with financial covenants including audit compliance, ensure adequate communication with the Borrower and the project implementing agencies with respect to audits and advise as appropriate;

• Provide substantive technical input into policy and strategic work in the field of FM – e.g. providing inputs to Systematic Country Diagnostics (SCD) and Country Partnership Frameworks (CPFs);

• Oversee the preparation of Advisory Services and Analytical products including policy papers and technical reports in the area of PFM;

• Develop an innovative and strategic work program in one or more thematic areas of PFM that responds to client needs;

• Working with other World Bank colleagues, carry out diagnostic work in PFM, formulating policy recommendations, and working with country authorities to implement agreed reforms;

• Provide guidance and advice to borrowers and bank staff on capacity building and performance of projects, public sector accountability institutions, accounting and auditing standard setters and regulators, and professional accountancy organizations;

• Promote and facilitate collaboration between the Governance team working on PFM issues and other Practices/CCSA within the Africa region and across the Bank to deliver a coordinated program of support to clients in the most cost-effective manner; and

• The work also implies frequent interaction with the following: (a) Counterparts in government and in a variety of international and professional organizations; (b) Counterparts within and across the GGP, other Practices/CCSA and the CMU; (c) Managers and senior management in HQ and in the field.

• As requested by the PM, the Senior FMS will also undertake other activities, as appropriate.

Selection Criteria:

The SFMSs should be professional accountants (CPA, CA or equivalent) with advance (Master’s degree or equivalent) in accounting, business, finance or economics, and a minimum of 8 years of post-qualification experience in financial management.

Experience and in-depth familiarity with public sector financial management is necessary. Also, the ideal candidates should have:

Technical competence:

• External Audit and Oversight – Demonstrate in-depth knowledge of international auditing standards issued by IFAC and INTOSAI (essential).


• Internal Controls, Internal Audit, and Risk Management – Demonstrate expertise and the ability to implement internal control and risk management frameworks, internal control activities at transaction and entity levels, and the use of internal control measures to prevent and detect fraud, with the ability to assess such systems and recommend remedial action where necessary.


• The ability to understand public financial management issues and to adapt financial management knowledge acquired in the private sector to the public sector context (essential);


• Demonstrated experience in fragile and conflict affected contexts (essential);


• Demonstrate in-depth understanding of the review of financial statements including statements which link financial to non-financial information;


• Extensive experience in auditing, including assessing audit competence, and to the ability to analyze the impact of qualified audit reports and matters arising from management letters;


• Good understanding of management information systems and the application of new information technologies;


• Capacity to work with minimum supervision and also function as a member of multi-disciplinary team, search for common ground, and where appropriate recommend decisive actions;


• Ability to communicate effectively, in writing and orally in English and to negotiate substantive and difficult issues with senior government officials (essential); and


• Demonstrated ability to deal with complex analytical and strategic work; process coordination; and interpersonal skills with the ability to work independently with the clients


• The SFMS should be willing to travel frequently, including to Somalia, when possible in compliance with World Bank security policy and procedures.

Behavioral Competencies

• Client Orientation – Maintain 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.


• Knowledge, Learning and Communication – Leads in the sharing of best practice, 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 – Serves as a trusted advisor to others on their decisions, ensuring alignment across units and optimal impact on the organization as a whole.

The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background.

Individuals with disabilities are equally encouraged to apply.

All applications will be treated in the strictest confidence.

How to Apply

CLICK HERE to apply online

Closing Date: 06-Oct-2015