Senior Financial Accountant - African Development Fund at the African Development Bank (AfDB)

African Development Bank (AfDB) - Established in 1964, the African Development Bank is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries). The Bank's development agenda is delivering the financial and technical support for transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth.

We are recruiting to fill the position below:

Job Title: Senior Financial Accountant - African Development Fund

Reference: ADB/17/320
Location: Côte d’Ivoire
Grade: PL5
Position N°: 50093630

The Complex

• The Vice Presidency for Finance oversees the financial management of the Bank Group. This encompasses the Bank Group’s treasury activities including borrowings from the capital markets and investment activities; controllership functions including financial reporting and loan administration; strategic resource mobilization and the strengthening of the non-statutory financial resources and instruments; the overall asset/liability management for the Bank Group.

The Hiring Department

• The Financial Control Department is responsible for accounting for the financial consequences of the Bank Group’s transactions and decisions, and for the preparation, fair presentation and overall integrity of the internal financial reports and published financial statements.
• The department is also responsible for loan administration and accounting and related fiduciary responsibilities, including disbursement of funds to projects and programs financed by the Bank Group.
• Lastly, the department provides decision support and expertise in the development and implementation of financial control policies, operational and financial strategies and related information systems.

The Position

• The Senior Financial Accountant - African Development Fund is responsible for all technical accounting activities and financial reporting related to the African Development Fund, Nigeria Trust Fund, Staff Retirement Plan, Medical Benefit Plan and Special Funds. 
• The incumbent works under the general guidance of the Chief Financial Accountant of the Financial Reporting and Treasury Product Sections in the Financial Reporting Division and under the overall supervision of the Division Manager, Financial Reporting Division

Duties and Responsibilities
Under the supervision and guidance of the Division Manager, Financial reporting, the Senior Financial Accountant will perform the following:

General Accounting Duties:

• Operate daily controls to ensure complete and accurate accounting for all financial transactions of the African Development Fund and other Special Funds. This will include monitoring SUMMIT/SAP interface postings for timely identification and resolution of missing postings and recommending additional controls for reducing or preventing such discrepancies;
• Reconcile the investment balances and income in the SAP General Ledger with SUMMIT, ensuring that outstanding items are resolved in a timely basis. This will include reconciliation of balances and income relating to FX Forwards, Swaps and Futures.
• Reconcile the Bank and Funds Statements of Voting Power and Subscriptions and Demand Obligations obtained from Treasury (FITR) with the SAP General Ledger, ensuring timely resolution of any discrepancies through appropriate liaison with partner departments. Ensure that all related outstanding amounts in bank statements are captured.
• Identify all accelerated encashment on Subscriptions and process relevant accounting entries to recognize attributable Discount on Accelerated Encashment in a timely basis.

Financial Reporting:

• Participate in the preparation and technical review of periodic financial statements and reports for African Development Fund and other Special Funds produced in the Division;
• Participate in the formulation and review of accounting policies and practices with respect to Treasury products;
• Continuously focus on identifying opportunities for improving the timeliness, completeness and accuracy of the Fund financial statements using existing or new technologies. Champion and drive the process for the implementation of new controls for enhancing the quality of financial reporting for the Fund.
• Prepare other ad-hoc financial and management reports as may be required from time to time.

Commitment Capacity:

• Prepare quarterly African Development Fund Commitment Capacity report for distribution to Board of Directors and Senior Management. This report summarizes the resources available to the Fund for new appropriation and commitment.
• Obtain, collate and process financial data from Treasury, Loans Accounting Division, Financial Risk Management and Resource Mobilization Unit as input to the Commitment Capacity Report.
• Attend to inquiries from partner departments (e.g. Treasury and Financial Management Department), providing technical accounting advice on Funds status and treatment of financial transactions;

Selection Criteria
Including desirable skills, knowledge and experience:

• Hold at least a Master’s Degree or its equivalent in Accounting, Finance, Business Administration or applied Economics.
• Have a minimum of five (5) years of practical experience related to Treasury accounting: hedge accounting, financial reporting of Treasury activities, accounting procedures, IFRS, etc.
• Membership with a professional Accounting board.
• Private sector experience is an added advantage.
• Technically astute of accounting for treasury products/
• Solid experience in accounting of Treasury products and applying IFRS standards.
• Application of new and revised IFRS standards to ensure compliance.
• Ability to deal with sensitive issues in a multi-cultural environment and to build effective working relations with colleagues.
• Ability to work independently with minimum supervision as well as part of a multicultural team.
• Ability to drive change.
• Ability to be flexible, open minded with integrity.
• Problem-solving.
• Communication.
• Client orientation.
• Team working and relationship Management.
• Ability to communicate effectively (written and oral) in English or French, preferably with a working knowledge of the other language.
• Competence in the use of standard software (Word, Excel, Access, PowerPoint)
• Knowledge of SAP Finance

Application Closing Date
2nd August, 2017.

Method of Application
Interested and qualified candidates should:
Click here to apply online