Financial Management Analyst

• Job #130068
• Job TitleFinancial Management Analyst
• Job FamilyFinancial Management
• Job TypeProfessional & Technical
• GradeGE
• LocationBuenos Aires, Argentina
• Recruitment TypeLocal Hire
• Language RequirementEnglish [Essential]; Spanish [Essential]
• Closing Date29-Jan-2013

Background / General description:
*If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 2-year renewable term appointment. **Staff should be aware that under Staff Rule 5.01, the minimum time in assignment shall be for two years for staff in positions at grades GA-GE, three years for staff in positions at grades GF-GG and four years for staff in positions at grades GH or higher in regional vice-presidential units, unless otherwise agreed with the staff member’s manager. ***The World Bank Group is committed to achieving diversity in terms of race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply. The Latin America and Caribbean Region (LCR) is organized in seven Country Management Units and five Sector Departments (Human Development - HD, Sustainable Development - SD, Poverty Reduction and Economic Management - PREM, Finance and Private Sector Development – FPD, and Operations Services -OS). The Regional strategy focuses on: growth and jobs; addressing poverty and inequality; strengthening governance and institutions; engaging in global issues; and minimizing vulnerabilities against disasters. LCR consists mostly of IBRD/middle income countries and a few IDA countries. The Financial Management Unit (LCSFM) is part of LCR Operations Services Department (LCSOS), which provides services in the following areas: Development Effectiveness, Procurement, Financial Management (FM), and Information Technology. LCSOS’ mission is to provide timely, high-quality value-added and cost-effective support to regional staff and advice to regional management on enhancing development effectiveness and meeting Bank quality and fiduciary standards. In direct operational work, LCSOS assists partner countries in assessing and strengthening their procurement and financial management systems. LCSFM’s functions include: (i) FM fiduciary aspects of the Region’s portfolio. LCSFM aims to carry out high quality fiduciary work, aligning financial management arrangements on projects with regular country institutions and systems, and supporting their development; (ii) supporting partner countries in enhancing their public financial management (PFM) performance and capacity, working collaboratively with other sectors (PREM, Procurement, Financial and Private Sector Development, Sustainable Development and Human Development); (iii) supporting partner countries in developing their professional accountancy institutions, and corporate financial reporting performance (including accounting and auditing standards). The Unit’s work program includes providing fiduciary support to the Region’s portfolio (investment lending and development policy lending - DPLs), analytic work, policy dialogue, technical assistance, and unit-managed IDFs and Trust Funds. The LC7 Country Management Unit (CMU) is responsible for Bank operations in Argentina, Paraguay and Uruguay. The Country Director is based in Buenos Aires and the Bank also has Country Offices in Paraguay and Uruguay. The Bank has a sizable portfolio and significant analytic and advisory activities in these countries. The broad changes in the Bank’s business, such as innovative approaches to investment and development policy lending, increased focus on results, institutional development, alignment with country systems, and the Bank’s engagement in the global harmonization and governance and anti-corruption (GAC) agendas form a key component of the LCR engagement with our client countries. The Bank’s work includes country analytic work to provide a base of knowledge to guide country programs aiming at improving institutional performance in partner countries, and identifying and managing risks. Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 2 year term appointment.
Duties and Accountabilities:
The World Bank is strongly committed to support improvement of performance and capacity of FM institutions and systems, align financial management arrangements in World Bank-financed projects with the country regular institutions and systems, and monitor and improve the fiduciary aspects of the Portfolio. The Financial Management Analyst (FMA) is expected to be fully dedicated to these objectives. The FMA will be part of the Regional FM team, will work under the supervision of the LC7 FM Coordinator, and will report to the Regional Manager for Financial Management (RMFM). The FMA will work from the Buenos Aires office and work on all financial management (FM) aspects related to the World Bank’s operations in the LC7 countries, and in other countries as needed. This will include, but is not limited to: assessing the adequacy of project financial management arrangements, providing implementation support and supervising projects financed by grants and credits; ensuring compliance with the Bank’s audit and other fiduciary requirements, ensuring that the project operations are carried out in accordance with sound financial management practices, performing analytical work on financial management and accountability issues, and carrying out capacity building activities. The FMA will work with the country team, including Task Team Leaders, Financial Management Specialists, Procurement and other technical specialists, and Administrative and Client Service (ACS) staff. The FMA is expected to assume the following duties and responsibilities: • Assess the adequacy of the borrower’s project financial management systems and their ability to manage and monitor World Bank-financed projects, including at the sectoral level where needed. This includes budgeting, policies and procedures, internal controls, accounting, financial reporting and auditing. Measures to support institutional development to develop capacity and manage risk are an essential element of this approach. • Provide implementation support and carry out supervision work to ensure that projects financial management systems are functioning appropriately, including the review of periodic interim financial reports. • Assess the selection and engagement of auditors, ensuring their suitability including their independence, and competence to perform audits; and ensure that the borrower provides auditors with all the relevant information (including Terms of Reference and Bank requirements) necessary to carry out their engagement. • Review audited financial statements and other periodic financial reports received, monitor the Borrower's compliance with financial covenants including audit compliance, ensure adequate communication with the Borrower and the project implementing agencies with respect to audits and other financial reports, and advise as appropriate. • Provide advice and support to Borrower and the World Bank Task Teams on project financial management matters. • Actively participate in partner country institutional development activities related to financial management, including analytic work, capacity building projects or components, technical assistance, training, and knowledge sharing. • Provide guidance and advice to borrowers, country institutions and Bank staff on capacity building and performance improvement of projects, public sector accountability institutions, accounting and auditing standard setters and regulators, and professional accountancy organizations. • Update and using information in the Bank’s systems as needed (ARCS, PRIMA, SAP). • As requested by the RFMM, undertake other FM activities, as appropriate.
Selection Criteria:
• The candidate should be a professional accountant (CPA, CA or equivalent membership of an internationally recognized professional accounting institute) with a Bachelors degree in accounting, business, finance, economics or related subject. • 3 years of relevant experience in financial management. • Language: Fluency in English and Spanish is required. • Knowledge of current issues in financial management, including relating to the public sector and relating to developing country issues. • Experience in designing and assessing internal control systems and procedures, and knowledge of internationally accepted control frameworks such as COSO/ERM. • Experience in and/or ability to evaluating audits, assessing auditor competence, and following up on issues raised by the audits. • Ability to interpret financial and project management reports and determining appropriate remedial actions. • Ability to assess the quality of portfolio performance on financial management. • Ability to understand cross-cutting issues beyond financial management (e.g. procurement, governance, public sector management) at sector/country level. • Experience in advising clients on the design and implementation of financial management systems, including financial and management reports. • Strong planning, organization and time management skills to function in a team and contribute towards a common goal. Ability to handle multiple tasks and projects. • Ability to communicate effectively, in writing and orally, including situations requiring negotiation. • Understanding of information systems and the application of new technology. • Willingness and ability to travel frequently. In addition to the above, the following are required: Competencies • Budget Formulation and Execution - Able to perform assessments, provide advice, and contribute to capacity building on budget formulation and execution processes at the project level under senior staff guidance. • Financial Management Information Systems - Has basic understanding of Financial Management Information Systems with ability to perform assessments, provide advice and contribute to capacity building on matters at the project level under senior staff guidance. • Internal Controls, Internal Audit, and Risk Management - Possesses ability to perform assessments, provide advice and contribute to capacity building on internal control and internal audit arrangements at the project level, under senior staff guidance. • Accounting and Financial Reporting - Has knowledge of the individual IFRSs, IPSAS, or comparable national standards; under senior staff guidance, able to perform assessments, provide advice and contribute to capacity building on accounting and financial reporting at the project level. • External Audit and Oversight - Understands international auditing standards issued by IFAC and INTOSAI; reviews audited project and entity financial statements, identifying deficiencies and gaps in compliance with financing agreement covenants, including audit compliance. • Financial Management –Reforms/Development and Integration - Possesses basic understanding of the Bank's fiduciary risk and FM risk model; under senior staff guidance, implements the Bank's FM risk model at the project level. • FM Sector Dialogue and Policy Advice - Has basic knowledge of financial management sector with the ability to carry out, under senior staff guidance, data collection on and analysis of relevant issues. • Operational Project Management - Participates in the review of bidding documents, evaluation reports, safeguard studies draft fiduciary, safeguard and GAC assessments, and implementation progress reports, and in the development/updates of procurement plans and action plans. • Client Orientation - Takes personal responsibility and accountability for timely response to client queries, requests or needs, working to remove obstacles that may impede execution or overall success. • Drive for Results - Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results, and has the personal organization to do so. • Teamwork (Collaboration) and Inclusion - Collaborates with other team members and contributes productively to the team's work and output, demonstrating respect for different points of view. • Knowledge, Learning and Communication - Actively seeks knowledge needed to complete assignments and shares knowledge with others, communicating and presenting information in a clear and organized manner. • Business Judgment and Analytical Decision Making - Analyzes facts and data to support sound, logical decisions regarding own and others' work.

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