Established in 1964, the African Development Bank (AfDB) is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 81 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 (2023 – 2032) and ensure greater developmental impact, five major areas, 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. This position is part of the management team that will lead the successful implementation of this vision.
THE COMPLEX:
The Senior Vice-President is responsible for supporting the President in the day-to-day management of the Bank Group to achieve it strategic objective, and drive performance culture that will align all processes and systems to deliver high impact results. The Senior Vice-President will provide effective leadership and exceptional coordination to ensure implementation and monitoring of key corporate decisions as well as the identification of necessary corrective measures and actions. The Senior Vice-President will lead senior management discussions, decisions-making process and the implementation of key management and Board decisions.
THE HIRING DEPARTMENT/DIVISION:
The Senior Vice-President supervises the Fiduciary Services and Inspection Department, which acts as the custodian of the procurement (including procurement for private and public partnership) and financial management profession, and has the following responsibilities for its functions: (i) developing and interpreting fiduciary policy, strategy and related implementing documents (Manuals and Tools), including serving as the secretariat of the Procurement Review Committee (PRC); (ii) providing fiduciary support to
operations complexes (Sector Departments, Directorate General) during the whole project cycle, including country strategy papers, to ensure that fiduciary arrangements comply with Bank Fiduciary (Procurement and FM) policies and procedures; (iii) developing and implementing fiduciary capacity building strategy for Bank Staff and Regional Member Countries (RMCs); (iv) Inspecting and reporting on the performance of fiduciary activities undertaken by sector departments and the regions, including preparing annual post review reports on these activities for Board presentation that will contribute to building credibility and trust of the Bank in the countries and with other stakeholders; and (v) dialoguing with external and global partners with a view to building partnerships and fostering harmonization.
THE POSITION:
Under the general supervision of the Director of the Fiduciary Services and Inspection department, the incumbent will play a leading role in (i) the design of a comprehensive and structured body of financial management policies and procedures applicable to Bank’s financed projects and programs, including revising the current framework or conceiving additional policies, strategies or guidelines on financial management (ii) the implementation of aid effectiveness agenda through harmonization of donors practices and encouraging the use of country public financial management systems on one hand and supporting the capacity building strategy of oversight institutions at the continental level on the other hand (iii) the conception of specific financial management policies and procedures destined to support the High 5s and the Ten Years Strategy.
KEY FUNCTIONS:
- Provide key contributions in developing, reviewing, updating and implementing changes in the Bank’s financial management (FM) policies, procedures and guidelines regarding the fiduciary safeguards.
- Influence the design and execution of major policy initiatives in the region and across the Bank
- Conceive, develop and promote innovations in Bank policies on financial management to improve its involvement and borrower’s accountability on FM issues.
- Provide assistance in the development of policy and strategies for financial management thematic areas in Regional Member Countries in consultation with relevant government agencies.
- Provide assistance in conducting dialogue with government officials in Regional Member Countries on policy and reforms with respect to the areas of financial management.
- Participates in ground-breaking or precedent setting missions and plays a key role in developing innovative practical approaches to difficult policy and operational issues at the Regional, Country and/or Sectoral levels.
- Develop strategies for harmonizing financial management approaches with other donors, playing a leading role in departmental or institutional task forces on developing and implementing policies and practices, FM safeguards and the efficiency and effectiveness of business processes.
- Act as resource person on financial management issues, providing interpretation of related Bank guidelines, resolution of complex financial management issues.
- Assist in the definition of the Bank strategy on supporting the accountability institutions as Professional Accountancy Organizations, Supreme Audit Institutions, Parliaments and Civil Society Organizations in close consultation with the International Federation of Accountants, the International Organization of Supreme Audit Institutions and other development partners;
- Develop training plans and materials for Bank staff on financial management policy and procedures issues;
- Contribute to the preparation of documents for consideration by the Board on financial management documents on policy and strategy;
- Contribute to preparing the Annual Report of the Bank and the various other bank reports;
- Report on the implementation of the financial management related Policy approved by the Board of Executive Directors.
COMPETENCIES (skills, experience and knowledge):
- A minimum of a master’s degree in accounting, finance, business administration, economics or a related discipline and a minimum of a professional accounting certification (CPA, CA, ACCA, Chattered Accountant);
- A minimum of seven (7) years of relevant experience, with particular expertise in designing, supporting and implementing financial management operations of which at least three (3) in international financial Institutions. The incumbent shall have a sound knowledge of the African Development Bank’s FM Policy and Procedures or other similar development institution. Experience in supporting private sector operations (banking, auditing, finance, microfinance institutions, agriculture, electricity, water) would be an added advantage;
- Proven ability to implement country or sector level financial management analytical and capacity building initiatives;
- An understanding of cross-cutting issues beyond financial management (e.g. procurement, governance, donors’ practices) at sector/country level;
- Good knowledge of International Financial Reporting Standards, International Public Sector Accounting Standards, International Standards on Auditing, International Standards of Supreme Audit Institutions;
- Good knowledge of key aid effectiveness issues especially harmonization of donors’ practices and alignment to borrowers systems;
- Communicate and write effectively in French or English, with a good working knowledge of the other language;
- Competence in the use of standard Microsoft Office Suite applications.
THIS POSITION IS CLASSIFIED INTERNATIONAL STATUS AND ATTRACTS INTERNATIONAL TERMS AND CONDITIONS OF EMPLOYMENT.