Senior Financial Management Specialist

Description

Do you want to build a career that is truly worthwhile? The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty and promoting shared prosperity. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org.

Operations Policy and Country Services (OPCS) plays a pivotal role in achieving the WBG’s mission, to end extreme poverty and boost prosperity on a livable planet. The VPU helps foster links between Global Practices and the Regions, while assisting frontline staff in delivering results to clients through sound operations policy and strong country support. OPCS develops and oversees the World Bank’s (WB) operational policies for country strategies, lending operations, advisory services and analytical support, financial management, procurement, and environmental and social safeguards. This includes advising and providing hands-on assistance on the WB’s policies, processes, and risk management related to operations (e.g. use of financing instruments; on procurement, financial management, and safeguards matters; and on results management). OPCS is also responsible for modernizing operational instruments (lending and non-lending) to help the WB become more responsive to a country's needs. 

Financial Management Team in OPCS (OPSFM)
OPSFM led by the Chief Financial Management Officer, is based in the Operations Policy and Country Services Vice Presidency. The unit provides strategic leadership on financial management (FM) aspects of policies and modernization of the FM function. OPSFM provides strategic leadership on the FM aspects of Bank-financed operations, including fiduciary assurance, FM risk management, modernization of the FM function, and professional development. It sets roles and responsibilities for FM staff across Bank lending instruments, strengthens country systems, and advances technical engagement with international standard setters. OPSFM provides training to FM staff in regions and helps resolve operational FM issues.  

Duties and Accountabilities
OPSFM is seeking to recruit an experienced, high-performing Senior Financial Management Specialist, to utilize operational knowledge and intellectual leadership for a range of issues related to FM in operations. This is an assignment for a highly motivated person with deep operational experience in the areas of integrated risk management and use of technology and innovation for modernization of FM. 

The selected candidate will be based at the World Bank headquarters in Washington DC, reporting to the OPSFM Manager, and will work closely with the broader OPCS team and with other relevant stakeholders both within (Governance Department, Regions, and Department of Institutional Integrity (INT)) and outside the Bank (e.g., development partners, accountability, and oversight institutions).

The Senior Financial Management Specialist is expected to perform a range of operational duties, working under minimal supervision, and to take on a substantial role in the following tasks:

1. Policy and Systems
• Strategy: Provide inputs for update to the Bank’s FM framework and related strategic directions in the context of operational efficiency and effectiveness and organizational changes.
• Policy: Provide inputs to Board Papers, Policies, Directives, Guidance, Good Practices and Reference materials that relate to lending instruments, advisory services and analytical support, country engagement and advise on the approval of policy waiver requests.
• Systems: Focus on the design, development and implementation of technology-based solutions to support efficiency and effectiveness for FM in operations. 
• Training and Staff Learning: Contribute to the design and delivery of training on FM related topics and the maintenance and update of the FM e-learning.
• Funds Chain roll-out: Contribute to the implementation of the roll-out of Bank’s Blockchain-based financial reporting platform - FundsChain. 

2. Modernization of the FM function: 
• Contribute to the modernization of FM function in the Bank by making the FM function evidence-based and data driven.
• Bring to the Bank best practices from global leaders on governance and use of technology.    

3. Financial Management Oversight and Risk
• Corporate reviews: Provide FM related inputs to assigned portfolio of corporate reviews including engagement with task teams.
• Financial Management Risk: Provide inputs to the corporate risk list review and to Board engagements.

4. Coordinating with internal and external partners
• Build and manage relationships with assigned portfolio of internal partners like Governance, Controllers, INT, Group Internal Audit (GIA), etc.
• Build and manage relationships with assigned portfolio of external partners like IPSASB, GAO, INTOSAI etc.

To deliver on the above tasks, the Senior Financial Management Specialist is expected to:
• Utilize data analysis, prepare technical notes and presentations, contribute to the expansion and improvement of the systematization of tools across the institution, explore use of innovative technologies and opportunities to support the modernization of FM in operations for improved portfolio performance. 
• Utilize dashboards, KPIs and other data visualization tools to monitor FM quality, compliance, risk and performance and propose measures to ensure quality of FM aspects in implementation of Bank's operations.
• Understand how AI and machine learning tools can be applied to fiduciary risk management, including predictive risk management and fraud detection in public financial management systems.
• Critically evaluate the limitations, biases, and ethical implications of AI applications in high-stakes financial oversight environments.
• Provide inputs to initiatives for modernizing FM in operations. 
• Leverage other technology — including automated reconciliation tools, ERP systems, and block chains - to enhance the accuracy, timeliness, and completeness of financial reporting.
• Assess FM implications of digital financial infrastructure in borrowing countries, including e-payment systems, integrated financial management information systems (IFMIS), and blockchain-based fund tracking platforms
• Provide technical and strategic advice to internal clients and development partners on FM issues including the efficient use of resources and managing internal controls and assurance function.
• Support knowledge management and dissemination in FM practices, in close collaboration with Regions.
• Support collaboration with development partners in financial management, including capacity building initiatives, use of country systems and convergence of project FM arrangements.
• Contribute to the preparation of the OPSFM’s business plan and annual work program.
• Represent OPSFM in meetings and working groups as assigned.
• Mentor junior colleagues.

Selection Criteria

• Eligible for FM-accreditation: Membership of an IFAC recognized professional accountancy organization or relevant professional public sector financial management experience and a master’s degree in accounting, finance, public policy or a related field. 
• Minimum of 8 years of relevant professional experience in financial management, accounting, or auditing in the private or public sector. Broad operational experience with integrated risk management and use of AI technology and data analytics for financial reporting and oversight.
• Comprehensive understanding of international financial reporting and auditing standards and their implementation. 
• Relevant certifications in the use of AI, data analytics and/or blockchain will be a strong value addition.
• Familiarity with issues on sustainability reporting and relevant audit issues.
• Knowledge of governance structure and process for international standard-setting by International Federation of Accountants (IFAC) boards and International Organization of Supreme Audit Institutions (INTOSAI).
• Experience in conducting technical training.
• Demonstrated ability to:
  o lead policy dialogue and influence design of initiatives around reporting, governance and institutional frameworks.
  o work with multiple stakeholders and integrate divergent views into coherent strategies to advise on corporate/regional/sector priorities.
  o prepare policy, advisory or research papers.
  o use technology for analytical and strategic tasks.
• Strong command of English, verbal and written, to enable communication of complex information in a succinct and impactful manner. 
• Additional language skills in any of the World Bank working languages is a plus. 

WBG Culture Attributes:

1. Sense of urgency: Anticipate and quickly respond to the needs of internal and external stakeholders.
2. Thoughtful risk-taking: Challenge the status quo and push boundaries to achieve greater impact.
3. Empowerment and accountability: Empower yourself and others to act and hold each other accountable for results.

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.

Learn more about working at the World Bank and IFC including our values and inspiring stories.