Field Disbursement Officer at Islamic Development Bank (IsDB)

The Islamic Development Bank (IsDB) is a multilateral development bank (MDB) which funds its projects and other developmental activities using Islamic finance. Hence, the name “Islamic”. Founded in 1975, the IsDB is headquartered in Jeddah, the Kingdom of Saudi Arabia. The purpose of the Bank is to foster economic development and social progress of its member countries.

We are recruiting to fill the position below:

Job Title: Field Disbursement Officer

Job Code: IDB2483
Location: Abuja, Nigeria
Business Unit: Finance Complex
Division: Dues & Disbursements
Department: Financial Control Department

Job Purpose

Review and verify operational disbursement requests and documentation in regional hub in coordination with project management unit or equivalent agency.
Determine whether the disbursement request should be approved, reduced or rejected in accordance with Bank’s policies and procedures.
Allocate disbursement commitments to relevant contract and ensure timely completion of the disbursement.
Maintain accurate and complete records relating to regional hub’s project accounting activities, coordinate with respective parties for resolution of disbursement related problems.
Provide support to negotiations, mission preparation, and disbursement workshops.

Key Accountabilities (not exhaustive list)
Dues and Disbursement Management:

Process disbursement requests from project management unit or equivalent agency in the regional hub to verify and determine the appropriateness of requests and supporting documents for the disbursement in accordance with Bank’s policies and procedures
Liaise with regional hub management and executing agencies and borrowers, in the resolution of disbursement related problems
Draft clear and concise correspondence to project management unit or operational staff regarding disbursement related issues
Monitor utilization of Special Accounts, ensuring that the funds are properly accounted for and used in accordance with Bank procedures
Participate in project missions to verify use of project finances and resolve disbursement issues
Participate in technical discussions and new project negotiations to ensure that disbursement arrangements are compliant with Bank’s disbursement policies
Prepare periodic reports on disbursement activities and disbursement projections for the regional hub for management
Maintain reliable and timely financial records for project accounting and reporting on the performance of the portfolio with special focus on approval, disbursements, cancellations and recoveries in the regional hub
Participate in reconciliation of project balances and issuance of project statements to Member Countries (i.e. reconciling borrowers’ and the bank’s records)
Prepare and update repayment schedules, prepare billing statements and track the repayment of amounts due and overdue in the regional hub

Financial Analysis:

Perform specific analyses of financial or operating data and submit recommendations for consideration of management
Analyze the current projects status and identify any problem areas that warrant attention of the concerned departments
Participate in standard and ad hoc analyses to meet variety of management objectives

Policies, Processes & Procedures:

Participate in drafting policies and procedures as per management instructions
Provide guidance on interpretation of IDB policies and procedures, and regulations applicable to operations financing in regional hub
Analyze and identify gaps and suggest improvements to policies or procedures for more effective operations

Reporting & Communication:

Prepare ad-hoc reports as and when required by management

Job Requirements
Academic qualifications:

Bachelor’s Degree in Accounting, Finance, Economics, Business Administration or related field is required
Aptitude for figures and attention to detail
CPA, ACCA, CMA or an equivalent certification is preferred

Minimum number of years and nature of experience: