Senior Accounts Assistant - Financial Reporting, FIFC1 at African Development Bank Group (AfDB)

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.

We are recruiting to fill the position below:

Job Title: Senior Accounts Assistant - Financial Reporting, FIFC1

Reference: ADB/20/103
Location: Abidjan, Cote d'Ivoire
Grade: GS8
Position N°: 50000729/50000722

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 Accounts Assistant –is responsible for:

• Ensuring timely and accurate accounting for and reporting of transactions in financial statements.
• Continuously focus on identifying opportunities for improving the timeliness, completeness and accuracy of the financial statements process using existing or new technologies.
• Ensuring effective internal control around the accounting activities by ensuring that financial transactions reported on the accounts are complete and accurately recorded in the appropriate accounting period.
• Providing decision useful financial reports to Management, Board of Directors, donors and other stake holders

Duties and Responsibilities
Under the supervision and guidance of the Division Manager, Senior Accounts Assistant will perform the following:

• Assist in drafting financial statements and related disclosures including management’s discussion and analysis.
• Ensure that all applicable financial reporting standards are correctly applied.
• Examine new financial products of the Bank and participate in discussions to determine the appropriate accounting treatment in line with relevant International Financial Reporting Standards.
• Verify the accuracy and reliability of base reports and records (Trial Balance, General Ledger, etc.) and ensure discrepancies, if any, are resolved.
• Ensure that information presented in tables within the notes to the financial statements are consistent with the figures in other parts of the financial statements.
• Maintain records and documents in respect of recorded entries in the General Ledger to facilitate both internal and external audits.
• Ensure inter-institution reconciliation and clearing of suspense and receivable accounts
• Examine accuracy of recording and accounting for investment transactions and identify errors or discrepancies for attention.
• Reconcile investment balances in the SAP with the balances as per SUMMIT/NUMERIX.
• Reconcile periodic investment income as recorded in SAP with investment income reported in SUMMIT/NUMERIX and any other relevant accounting system
• Reconcile and verify the computation of the maturity structure and currency composition of investments.
• Prepare details of investment activities for inclusion in financial statements.
• Participate in the evaluation and propose for implementation new controls for enhancing the quality of financial reporting.
• Ensure consistency between the English and French versions of financial statements for the Board.
• Prepare other ad-hoc financial and management reports as may be required from time to time.
• Contribute to periodic closing of accounts by ensuring outstanding payments on the accounts "payable" are settled and “receivables” accounts are cleared.
• Execute any other work as assigned by the Manager.

Selection Criteria

• At least a Bachelor's degree in Accounting, Finance or Audit
• Membership of a professional Accounting board of a member country
• At least six (6) years of relevant professional experience working in the accounting and finance field preferably in an audit firm of international repute
• Applied working knowledge of International Financial Reporting Standards
• Demonstrated competencies for accuracy, attention to detail, Problem-solving.
• 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) and knowledge of SAP Finance Module.

Application Closing Date
22nd August, 2020.