Manager, Dues

5 days ago

Jeddah, Saudi Arabia Islamic Development Bank Full time

Job Purpose

To develop, obtain approval of, and maintain the Bank’s policies for disbursements, billing and repayments, with a view to ensuring the integrity of the Bank’s financial transactions with its borrowing member countries. Further, to assist the units handling Bank’s financing projects, during the preparatory phase, financing agreement negotiations, and during the implementation phase of projects. Key Accountabilities & Activities

**General Responsibilities**:

- Develops, obtains approval of, and maintains the Bank’s procedural policies for disbursements, billing and repayments, with a view to ensuring the integrity of the Bank’s financial transactions with its borrowing member countries.
- Assists the units handling Bank’s financing projects, during the preparatory phase, financing agreement negotiations, and during the implementation phase of projects.
- Develops, monitors, and updates disbursement methods and procedures for IDB.
- Develops and improves when needed, in collaboration with the concerned units, the Bank’s procedural policies as they relate to Operational Disbursement and Dues.
- Processes all disbursement requests from project management unit or equivalent agency and ensures conformity with disbursements procedures and contractual obligations.
- Maintains accurate and complete records relating to the Bank’s operational financing, including authorized signatories for disbursement, list of goods and services, declaration dates of loan effectiveness, etc.
- Liaises with Country Relations and Services units and executing agencies and borrowers, in the resolution of disbursement related problems.
- Prepares periodic reports on disbursement activities and disbursement projections for Management and the Board of Executive Directors.
- Designs, reviews, and enforces the procedural policies and guidelines for billing and repayments.
- Prepares documentation on the procedures for billing and repayment (i.e. repayment schedules), and the applicable rules for sanctions in cases of arrears, in coordination with the concerned sector units.
- Contributes to development of policy pertaining to suspension and sanctioning with Financial Policies, Planning and Analytics unit.
- Maintains reliable and timely financial records for project accounting and reporting on the performance of the portfolio with special focus on approval, disbursements, cancellations and recoveries.
- Reconciles project balances and issuance of project statements to member countries (i.e. reconciling borrowers’ and the bank’s dues records).
- Prepares and updates repayment schedules, prepare billing statements and tracks the repayment of amounts due and overdue.
- Processes all accounting entries related to dues in a timely manner and assists in the Bank reconciliation exercise.
- Ensures proper monitoring, invocation, reduction and release of repayment guarantees provided by beneficiaries.
- Ensures correct response to clients’ requests for confirmation of balances to be provided to external auditors.
- Prepares weekly overdue reports for Management to highlight areas of concern and to facilitate prompt resolution.
- Administers debt resettlement plans for qualifying Member Countries under the Heavily Indebted Poor Countries (HIPC) Debt Initiative, including securing Board approval for debt relief strategies; acting as the focal point, both internally and externally, to stakeholders (member countries, World bank, IMF, Paris Club etc.); monitoring recent developments pertaining to debt sustainability and the performance of various resettlement plans entered into by the Bank to ensure full compliance with the provisions of such plans.
- Represents the IDB at HIPC related events (e.g. MDBs’ meetings) to ensure that the IDB’s views are taken into account and issues are resolved satisfactorily.
- Analyzes the status of completed projects, identifying problematic areas warranting the attention of to the concerned units in the Country Relations and Services unit.
- Maintains, updates and monitors the basic data in LC subsystem in the main frame (GL).
- Calculates the annual service fee to be charged for new loan approvals in accordance to Loan Pricing Policy.
- Implements IDB approved pricing on projects by preparing both tentative and final repayment schedule.
- Provides training to borrower countries/executing agencies on disbursement procedures for disbursements not handled at the sub-Regional offices and familiarize them with billing and repayment procedures and with the applicable rules for sanctions in cases of arrears.
- Contributes to the development and dissemination of the knowledge and inventory of best practices as they relate to the functions of the unit.
- Contributes to the development of key results targets and performance indicators (KPIs) related to the strategy and operational plans of the unit.
- Measures, monitors results related to the work of the unit and undertakes inventories of le

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