Financial Management Specialist

3 weeks ago

Jeddah, Saudi Arabia Islamic Development Bank Full time

Job Purpose

To Review and update financial terms and operational conditions of projects financed by the Bank. Analyze the operations portfolio with special focus on approvals, disbursements, cancellations, dues, and repayments, with a view to improving operations financing.

Key Accountabilities
**Dues and Disbursement Management**:

- Verify project basic data against terms in the relevant financing agreements and ensure all parameters are accurately entered in the ERP (SAP) system.
- Process all disbursement requests from project management unit or equivalent agency, end-to-end, and ensure conformity with project disbursement procedures.
- Coordinate with Country Programs Complex and Legal Department on financial terms and operational conditions of projects financed by the Bank.
- Prepare tentative and final repayment schedules for dispatch to paying agencies.
- Liaise with member countries to ensure prompt reconciliation of balances, and follow-up of overdues as well as forthcoming dues.
- Post all accounting entries related to dues in timely manner and assist in the reconciliation exercise.
- Ensure proper monitoring, invocation, reduction and release of repayment guarantees provided by beneficiaries.

**Financial Analysis**:

- Assess and validate financial and operations data for integrity and analytical purposes.
- Perform specific analyses of financial or operating data and submit recommendations for consideration of Management.
- Analyze the current projects status and identify any problem areas that warrant attention of the concerned departments.
- Participate in standard and ad hoc analyses to meet variety of management objectives.

**Policies, Processes & Procedures**:

- Participate in drafting policies and procedures as per management instructions.
- Provide guidance on interpretation of IDB policies and procedures, and regulations applicable to operations financing.
- Analyze and identify gaps and suggest improvements to policies or procedures for more effective operations.

**Reporting & Communication**:

- Prepare ad-hoc reports as and when required by management.

Academic and professional qualifications
- Bachelor's degree in Accounting, Finance, Economics, Business Administration or related field is required.
- CPA, ACCA, CMA or an equivalent certification is an advantage.
- Minimum 5 years of experience in project finance and accounting.
- ERP and procurement experience is preferred.

Skills & Necessary Knowledge
- Building Relationships
- Passion for Excellence
- Analytical Thinking
- Knowledge, Learning and Communication
- Problem Solving
- Bank Knowledge
- Financial Analysis
- Financial Management
- Financial Reporting
- Accounting
- Project Management
- Project Documentation

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