The IDB Group is a community of diverse, versatile, and passionate people who come together on a journey to improve lives in Latin America and the Caribbean. Our people find purpose and do what they love in an inclusive, collaborative, agile, and rewarding environment.
About this position
The division of Financial Management and Procurement Services for Operations (FMP) is looking for a Financial Management Specialist (FMS) to provide fiduciary services in headquarters and in Country Offices.
FMP is under the purview of the Vice-Presidency of Countries and works in collaboration with IDB partners to help IDB borrowing member countries achieve their development objectives through effective fiduciary supervision through expert advice and quality service that ensures the effective and efficient use of the Bankโs development funds. To achieve this, we focus on the following task: establish a strategic dialogue with the authorities of the borrowing countries, provide advice on the design and implementation of Bank-financed operations, and support eligible countries to strengthen their fiduciary systems.
As a highly decentralized division, FMP focuses on: (i) bringing knowledge and innovation to FMP's operational and corporate work to create more effective development solutions; (ii) improve our decision making using business intelligence, relevant data and analytics; (iii) deploy our resources efficiently based on a planning framework to monitor, measure and communicate results; and (iv) create a healthy work environment that allows each FMP staff to grow, individually and collectively.
FMP includes within its main lines of action Leadership based on knowledge, innovation and transparency, customer-focused solutions, digitization, connectivity, data-based decisions, communication, and collaboration.
What youโll do:
The fiduciary function is an integral part of the development process, in the public sector that promotes accountability, transparency and value for money in the use of resources. The financial management function is a critical part of the Bank's fiduciary oversight that works collaboratively with the procurement management function.
Through an effective fiduciary strategy, which combines adequate risk management and efficient supervision, the FMS provides quality advice for the fulfillment of the development objectives of our clients to ensure value for money and the timely completion of Financial Management activities that directly affect the disbursement and Project execution following the bankโs financial policies and Principles. The Bankโs Financial Management work aims at i) supporting countries in their financial management capacity; and ii) providing reasonable assurance on the proper use of Bank funds.
The FMS is committed to providing the required support to ensure that the proceeds of operations made, guaranteed, or participated in by the Bank, are used solely for the purposes for which they are intended, with due attention and consideration of economy and efficiency. This objective is met through strong skills and knowledge which will be reflected in the following activities.
What you will do:
Actively and opportunely participate, as part of the project team, throughout the project cycle and advise on the best financial management approach to obtain the expected results and the adequate fulfillment of the Bankโs fiduciary requirements in accordance with the highest standards. Actively participates in project planning, providing effective strategies that support the financial planning of projects financed by the Bank and monitor the flow of disbursements as well as the accountability process of Operations. Analyze audited and unaudited financial reports for decision-making purposes. Using the most up-to-date financial management tools on the market as required by projectโs needs, data analysis and business intelligence, provide high-level technical advice on financial management matters. Analyze the Bank's financial management policies, procedures, and guidelines for their application. Identify best financial management international practices. Transform data into relevant knowledge to improve expert fiduciary advice to our internal and external clients. Lead high level technical dialogue with government officials to promote strategic dialogue with stakeholders to disseminate the strategy for the use and strengthening of the countries' public financial management systems, its progress, and opportunities for collaboration with the government in bank financing operations. Promote the enhancement and use of the country systems and participate in fiduciary assessments (PEFA, GUS, SAI/PMF among others), prepare background analysis, and promote the strategy for the effective use and strengthening of the countryโs' public procurement systems. Develop a sound understanding of the countryโs key fiduciary systems, players and processes to inform project design and efficient and effective execution arrangements. Foster strategic alliances with MDBs and other international development partners to promote enhanced efficiency and standardization in project implementation methodologies and requirements. Contribute to the Bank's fiduciary modernization efforts, the implementation of new technologies/tools at the country level, as well as the promotion of new initiatives and participation in business research and use of client connectivity platforms. Actively support the Banks digital transformation, especially in relation to financial management activities, identifying challenges and taking steps to achieve the Bankโs digital transformation goal. Ensure correct understanding of all aspects of Bankโs financial management policies in Bank staff, borrowers and third parties, for which FMS will lead different initiatives, at Bank or country level, aimed at closing the understanding gaps. Build a network of contacts at the country level that allows synergies and permanent exchange of fiduciary information between different stakeholders. Encourage collaboration and knowledge-sharing with other fiduciary specialists, units, borrowers and third parties on all aspects of the Bankโs fiduciary policies, procedures, and experiences. Promote equitable and inclusive treatment in the workplace and positively impact employee experience through the DEI Framework; as well as institutional governance processes and mechanisms to foster integrity, ethical behavior, transparency, risk management, accountability, and robust internal controls.
What you'll need
Education: Masterโs degree (or equivalent advanced degree) in Accounting and Auditing, Public Finance, Business Administration, or other fields relevant to the responsibilities of the role. Experience: At least 5 years of progressive experience in project financial management, financial and institutional analysis of public and private institutions, budget, accounting, and internal and external auditing. Experience in reform processes and/or change management would be a plus. Languages: Proficiency in Spanish and English, spoken and written, is required. Additional knowledge of French and Portuguese is preferable.
Key skills
Learn continuously Collaborate and share knowledge Focus on clients Communicate and influence Innovate and try new things
Requirements
Citizenship: You are a citizen of one of our 48-member countries. We may offer assistance with relocation and visa applications for you and your eligible dependents.
Consanguinity: You have no family members (up to the fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB, IDB Invest, or IDB Lab.
Type of contract and duration
International staff contract, 36 months initially, renewable upon mutual agreement.
What we offer
The IDB group provides benefits that respond to the different needs and moments of an employeeโs life. These benefits include:
A competitive compensation package, including an annual base salary expressed on a net- of-tax basis Leaves and vacations: 24 days of paid time off + 8 personal days + sick leave + gender- neutral parental leave Health Insurance: IDB Group provides employees and eligible dependents with a robust medical benefits program which covers medical, dental, vision, preventive care, and prescription drugs. Pension plan: defined benefit pension plan that provides financial security and support employees in planning for their future. We offer assistance with relocation and visa applications for you and your family, when it applies Hybrid and flexible work schedules Health and wellbeing: Access to our Health Services Center which provides preventive care and health education for employees. Development support: We offer tools to boost your professional profile such as mentoring, 1:1 professional counseling, training and learning opportunities, language classes, mobility options, among others. Other perks: Lactation Room, Daycare Center, Gym, Bike Racks, Parking, Spouse Career Program, and others.
Our culture
At the IDB Group we work so everyone brings their best and authentic selves to work, willing to try new approaches without fear, and where they are accountable and rewarded for their actions.
Diversity, Equity, Inclusion and Belonging (DEIB) are at the center of our organization. We celebrate all dimensions of diversity and encourage women, LGBTQ+ people, persons with disabilities, Afro-descendants, and Indigenous people to apply.
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job interview process. If you are a qualified candidate with a disability, please e-mail us at diversity@iadb.org to request reasonable accommodation to complete this application.
Our Human Resources Team reviews carefully every application.
About the IDB Group
The IDB Group, composed of the Inter-American Development Bank (IDB), IDB Invest, and the IDB Lab offers flexible financing solutions to its member countries to finance economic and social development through lending and grants to public and private entities in Latin America and the Caribbean.
About IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts innovative research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
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External Opening Date: Oct 11, 2023