Principal Financial Accountant, FIFC.1 at the 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: Principal Financial Accountant, FIFC.1

Reference: ADB / 21 / 023
Location: Abidjan, Cote d’Ivoire
Grade: PL4
Position N°: 50000719

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 Principal Financial Accountant is responsible for:

Preparing, timely and accurate accounts and reporting transactions in accordance with International Financial Reporting Standards and rules of the Bank Group
Providing accurate financial reports to Management, Boards of Directors, bilateral donors and other stakeholders for useful decision making
Maintaining the accounting procedures of the Bank Group and provide accounting and reporting guidance on various Bank Group initiatives

Duties and Responsibilities
Under the supervision and guidance of the Division Manager, the main responsibilities of the Principal Financial Accountant will be:

General Duties

Coordinate financial reporting activities, including those of Special, Trust, and donor Funds
Participate in the preparation of monthly, quarterly, and annual financial statements.
Ensure accuracy and proper reconciliation of the inter-institution accounts
Provide technical accounting guidance to other Departments and Units of the Bank as may be needed.
Review and provide input on the financial aspects of agreements to be signed by the Bank with the donors
Represent the Division/Department on technical committees and special initiatives and provide input on the financial aspects of proposals
Provide technical accounting and policy guidance on system implementation projects in the area of financial accounting reporting
Maintain the Chart of Accounts and provide business process support for SAP (FI) applications.
Maintain system configuration related to Financial Accounting in SAP
Continuously review of the staff SAP profile in the Division to ensure adequate Segregation of Duties
Supervise support staff in their daily financial accounting responsibilities.

Other Duties:

Represent the Division/Department in the various working groups, including those of the Asset and Liability Management Committee (ALCO).
Participate in the evaluation of internal control within the Division.
Participate in the provision of information requested by internal and external auditors.
Execute and review the monthly revaluation for the Bank Group
Other functions that may be assigned by the Division Manager that impact the work of the Division

Selection Criteria

Hold at least a Master’s degree or its equivalent in Accounting, Finance, Business Administration or applied Economics.
Membership with a professional Accounting board.
Have a minimum of six (06) years of practical experience related to financial reporting, accounting procedures, IFRS compliance, etc.…
Ability to effectively interpret and apply new and revised IFRS standards to ensure compliance
Ability to deal with sensitive issues in a multi-cultural environment and to build effective working relations with colleagues
Ability to work independently with minimum supervision
Ability to drive change
Ability to be flexible, open-minded with integrity
Problem Solving
Communication
Client Orientation
Ability to communicate effectively (written and oral) in French.
Competence in the use of standard software (Word, Excel, Access, PowerPoint)
Knowledge of SAP Finance and related modules is an added advantage