Financial Management Expert

4 days ago

Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank (IsDB) Full time
About Us

The Islamic Development Bank (IsDB) is a leading financial institution dedicated to promoting economic development and social progress in its member countries.

We Offer:

  • A dynamic and challenging work environment that offers opportunities for career growth and development.
  • The chance to work with a diverse team of professionals from around the world.
  • Access to state-of-the-art technology and resources.
  • Competitive salary and benefits package.
  • Opportunities for professional development and training.

About the Job:

We are seeking a highly skilled Senior Project Financial Management Specialist to join our team. In this role, you will be responsible for developing and updating project financial management policy, guidelines and procedures.

Your Responsibilities:

  1. Develop and update project financial management policy, guidelines and procedures.
  2. Review IDB's policies and procedures to ensure consistency with the project financial management policies of the Bank.
  3. Promote and share knowledge on public and project financial management and major new initiatives, instruments, and requirements of the new policy.
  4. Enhance the procurement process related to PFM, particularly the terms of reference, for the selection of auditors and financial management consultants for projects.
  5. Understand client needs and developmental challenges and identify entry points for public financial management and governance interventions to improve country financial management systems.
  6. Work with regional hubs and teams to address PFM and governance issues in the MCPS, lending operations, analytical work and advisory services to clients.
  7. In coordination with regional hubs/, lead the design and execution of major PFM policy initiatives in member countries.
  8. Lead development of standardized financial management documents (e.g. tools, templates, checklists).
  9. Support in financial management of complex operations and ensure compliance with policies and procedures of the Bank.
  10. Review audit reports of complex projects to ensure compliance with IDB's financial management policies/guidelines and raise flag in case of any risk.
  11. Lead and/or take a proactive role in ground-breaking initiatives and playing a key role in developing innovative practical approaches to difficult policy and operational issues related to financial management at project, program or country level.
  12. Develop the necessary controls to detect unusual occurrences as part of an early-warning system to help prevent fraud and corruption.
  13. Prepare country financial accountability assessments over the project cycle of the Bank.
  14. Lead in setting up of financial management and flow mechanisms in conflict, emergency situations and non- MC settings.
  15. Leading the development and implementation of approaches to make greater use of country financial management systems in IsDB lending operations;
  16. Contributing to departmental or institutional task forces on developing and implementing changes to financial management policies and practices, fiduciary safeguards and the efficiency and effectiveness of business processes and risk management in projects;
  17. Facilitating and promoting in-country cooperation with other development partners in the area of public financial management and governance, including diagnostic work, capacity building initiatives, use of country systems and harmonization.

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