African Development Bank Group (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. In order to sharply focus the objectives of the Ten Year Strategy (2013 – 2022) and ensure greater developmental impact, five major areas, all of which will accelerate our delivery for Africa, have been identified for scaling up, namely; energy, agro-business, industrialization, integration and improving the quality of life for the people of Africa.
We are recruiting to fill the position below:
Job Title: Senior Loan Accounting Officer
Position N°: 50000805
The Hiring Department/Division
- The Vice Presidency for Finance (FIVP) 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 primary objective of the Loan Accounting Division is to administer the loan, grant and guarantee portfolios of the Bank Group and other Funds managed by the Bank.
Duties and Responsibilities
- Under the guidance and supervision of the Division Manager, the Senior Loan Accounting Officer will administer loans, grants and guarantees of the Bank Group and other special funds managed by the Bank in compliance with appropriate policies, regulations and guidelines.
The Senior Loan Accounting Officer will for a an assigned group of countries:
- Ensure the integrity of loan/grant portfolio data and transactions by confirming relevant Loan/Grant data relating to approvals, signature, cancellations re-activations and financial terms;
- Verify the accuracy of bills and ensure that principal and charges billed are in compliance with the financial terms specified in the loan agreements;
- Identify and record loan repayments, initiate currency purchase requests, ensure correct application of funds received; and make appropriate recommendations to Borrowers with respect to any excess funds or shortfalls;
- Examine and validate the bi-monthly arrears position of Borrowers, the monthly list of Borrowers under sanctions and lift sanctions for Borrowers on prompt identification and receipt of sufficient additional loan repayments;
- Ensure effective internal control around loan accounting and reporting;
- Ensure the accuracy of General Ledger suspense accounts relating to lending products;
- Conduct debt reconciliation mission in RMC’s
- Provide training to Borrowers and Bank Staff to ensure familiarity with applicable loan accounting policies and procedures;
- Conduct quality assurance on the work done by Loan Accounting Assistants;
- Perform other duties as assigned by the Division Manager.
Including desirable skills, knowledge and experience:
Application Closing Date
- A Master's Degree and/or a professional qualification in Finance, Accounting, Business administration or related quantitative discipline;
- At least five (5) years of relevant experience in applying financial concepts and managing a wide range of financial products;
- Knowledge of ADB and ADF lending products and choices of repayment terms
- Strong client focus with good interpersonal skills and the ability to collaborate and work with others across and outside the Bank;
- Strong quantitative skills with attention to detail and numerical accuracy;
- Proficient in the use of Bank’s IT systems such as SAP CML and Microsoft tools (Excel, Word, PowerPoint, Outlook);
- Ability to communicate effectively (written and oral) in English or French with a good working knowledge of the other language.
8th May, 2019.
How to Apply
Interested and qualified candidates should:
Click here to apply online
This position does not attract international terms and conditions (The post holder will be considered as a local staff and will not have international terms and conditions of employment).