9 May 2019

Division Manager- Financial Reporting at African Development Bank

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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 (High 5s), 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.

THE COMPLEX:

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 HIRING DEPARTMENT:

The Financial Reporting Division (FIFC1) is responsible for, among others, accounting for all Bank Group’s financial transactions, the Bilateral Funds and the Special Funds. In addition to the financial statements for all these reporting entities, the Division prepares special reports and analyses and other reports, including those for the Asset and Liability Management Committee (ALCO) for Management and the Board, and for external stakeholders

THE POSITION:

The Division Manager- FIFC.1 facilitates the entire process of preparing accurate and relevant periodic financial statements for internal and external use. Ensures that reports and documentation complies with Bank regulations, professional standards, and IFRS reporting guidelines.

And is also ensuring that:

  • The production of decision useful information that is accurate, relevant, and timely on all transactions entered into by the Bank.
  • Institute processes and procedures to ensure that financial reporting is reliable and in compliance with best practice.

Duties and responsibilities

Under the supervision and guidance of the Director – FIFC, the Division Manager – FIFC.1 will be responsible to:

  1. Lead the Bank Group’s financial reporting team in the preparation of annual, quarterly and monthly financial information.
  2. Plan and supervise the activities of the reporting division by determining the objectives of the division’s annual work program and allocating tasks accordingly; appraising and evaluating staff potential and performance; and determining training needs.
  3. Ensure compliance of the Bank’s financial reports with the appropriate reporting standards. Monitor and ensure timely compliance with evolving accounting standards. Interpret financial reporting standards and prepare technical memorandums that document issues in a clear, logical and comprehensive manner. Lead research on technical accounting issues for new, complex, or unusual transactions, and communicate/document the Bank’s accounting treatment for such transactions.
  4. Lead the preparation and/or review of accounting policies, performing research on peers, implementing new accounting standards, etc. Communicate and explain accounting issues and evolving accounting principles to management and the Board.
  5. Liaise directly with the external auditors for the audit of financial statements and related internal controls reviews. Act as key interface between the external auditors and other corporate functions (e.g., financial management, treasury, internal audit etc.).. Manage communications with external auditors on financial statements and accounting issues to ensure auditors concurrence.
  6. Work continuously to improve the quality of financial statements and benchmark all reports to those of peers.
  7. Work with business units and support groups to ensure that the all Bank Group reports are comprehensive and accurate.
  8. Oversee the development and maintenance of suitable accounting information software infrastructure for the Bank.
  9. Inculcate best practices in the Bank processes and help identify areas of improvement; assist with documentation of policies and procedures where appropriate
  10. Perform continuous assessment of the financial close process and implement process re-engineering to improve on the timeliness of all financial reports.
  11. Participate in the analysis and formulation of financial policies and practices of the Bank Group and provide guidance to staff on technical accounting matters.
  12. Advise the Director and other senior officials of the Bank on financial and accounting issues.

Selection Criteria

  1. Hold at least a Master’s degree or its equivalent in Accounting, Finance, Audit, Business Administration, or Banking and membership of an internationally recognized professional accounting body (e.g., CA, CPA, ACCA or Chartered Accountant)
  2. Audit experience in a large international accounting firm
  3. Have a minimum of eight (8) years’ experience with financial reporting in a similar organization
  4. Excellent knowledge of IFRS combined with the ability to research and propose positions on complex accounting issues
  5. Proficiency in the use of SAP S/4 HANA Finance, SUMMIT and Numerix
  6. Highly numerate and analytical skills
  7. Experience working in a multicultural environment
  8. Ability to communicate effectively (written and oral) in English or French, preferably with a working knowledge of the other language
  9. Competence in the use of standard software (Word, Excel, Access, PowerPoint)


How to Apply

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