The Financial Management unit (EAPFM),JOBS,Phnom Penh, Cambodia

Post:Financial Management Specialist, Phnom Penh, Cambodia

  Background / General description:
The Financial Management unit (EAPFM) is a part of the Central Operation Service Unit (COSU) in the East Asia and Pacific (EAP) Region. It advises and supports Regional Management and staff on financial management in operations. Specifically, EAPFM is responsible for:

(i) the financial management aspects of the Region's overall lending portfolio;

(ii) policy advice to Government on financial management and financial accountability issues (in both public and private sectors); and

(iii) capacity building to strengthen our partner countries' financial management systems and institutions.

Aligned with the Bank's overall FM corporate strategic direction, EAPFM is committed to proactively supporting portfolio related activities as an integral core member of EAP's task teams with the purpose of improving Financial Management performance of the Cambodian Government's operations financed by the Bank and enhance the country's capacity in using the public funds. EAPFM is also proactively supporting the enhancement of Corporate Financial Reporting (CFR) in the region and supporting the Professional Accountancy Organizations and the regulators that interact with the accounting and auditing profession. EAPFM manages not less than 20 Technical Assistance operations focusing on building the capacity of public institutions and PAOs.

EAPFM is a highly decentralized unit with 27 professional staff in the field and 3 at HQ. The unit is organized in 6 Hubs where the CMUs are located and a Center of Excellence (CoE) for Accounting and Auditing located in Singapore. Each Hub/Center is led by a Hub Leader responsible for all FM aspects of the Hub/Center including the oversight of the tasks performed by the Financial Management teams and the quality assurance of their deliverables. The recruitment of a FMS in Cambodia is part of the EAPFM strategic staffing plan.

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:
Summary:
The FMS should be a professional accountant (CPA, CA or equivalent) with an internationally recognized designation by the International Federation of Accountants. They should also a Bachelors degree in accounting, business, finance, economics or related subject, and should have at least 5 years of relevant experience in financial management, preferably with expertise in the public sector.

The FMS will report to the Regional Financial Management Manager (RFMM) through the Hub Leader and will be part of the Financial Management team of the East Asia & Pacific Region (EAPFM) and the Country Management Unit's Team. The successful applicant will work with EAPFM team in the Phnom Penh Country Office (CO) Team, including Financial Management Specialists (FMSs), Administrative and Client Service (ACS) staff, as well as colleagues in charge of procurement, disbursements, PREM and other sectors.

The FMS will assist 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 financial management practices and performing analytical work on financial management and financial accountability issues in support of building client capacity.

Scope of Responsibilities:

• The specific duties and responsibilities of the FMS will be agreed with the EAPFM Manager and will include the following:
•     Assessing the adequacy of the Borrower's project financial management systems and their ability to manage and monitor World Bank financed projects. This includes budgeting, policies and procedures, internal controls, accounting, financial reporting and auditing;
•     Assisting the Borrower and the World Bank Task Team members on financial management requirements, including monitoring and reporting issues;
•     Carrying out supervision work to ensure that project financial management systems are functioning appropriately, including the periodic review of project financial management reports for financial performance;
•     Providing advice and support to Borrower and the World Bank Task Teams on matters affecting financial management;
•     Providing financial management guidance for the development of technical assistance programs and evaluating and monitoring their implementation;
•     Providing guidance and advice to borrowers, recipients and bank staff on capacity building in projects and with public sector accountability institutions;
•     Assessing the selection and engagement of external auditors, ensuring their suitability including their independence, and competence to perform; and ensureing that the borrower provides auditors with all the relevant information (including Terms of Reference and the Bank's own requirements) necessary to carry out their audit engagements; and
•     Participating in public financial management analytical work and provision of relevant information on country specific issues to country units, sector staff and task teams on generic country specific financial management and disbursement issues.

  Selection Criteria:

• The candidate should have a Bachelors degree in accounting, business, finance, economics, or related subject and at least 3 years of relevant experience. A professional accountancy qualification (CPA, CA or equivalent) is desirable. In addition, the candidate should have the following qualifications:
•     Knowledge of current issues in financial management, particularly relating to the public sector.
•     Knowledge of International Financial Reporting Standards and International Standards on Auditing.
•     Knowledge of developing country issues as they relate to financial management.
•     Experience in interpreting financial and project management reports and recommending remedial actions to be taken by the Bank or borrower.
•     Knowledge in the application of accounting, auditing and financial reporting systems and software packages.
•     Experience in designing and assessing internal control systems and procedures using internationally accepted control frameworks such as COCO, COSO, Cadbury.
•     Experience in financial statement analysis, its use in comparison with industry benchmarks and application to facilitate decision making.
•     Ability to function effectively in multi-disciplinary teams within a matrix management environment.
•     Strong oral and written communication skills in Khmer and English.

http://unjobs.org/vacancies/1367459176562
Closing Date: Monday, 06 May 2013 (closed)