Principal Professional, Financial Controller

Job Description: Principal Professional, Financial Controller

Closing on: November 08, 2024 at 11:59pm (China Standard Time)
Duty Station: Shanghai, China
Target Market: Global recruitment

Position Objective
The Financial Control division, under the Finance, Budget, and Accounting unit, is functionally responsible for ensuring the smooth financial operations of the Bank which includes oversight on the Bank’s Financial Statements, General Ledger and Budget.  The Financial Control division leads in the application of financial control interventions that are critical to ensuring NDB operates in compliance with relevant regulations and governance standards (i.e., International Financial Reporting Standards (IFRS) while maintaining its reputation and credibility.

The Principal Professional, Financial Control is responsible for the adaptation of financial and accounting standards related to loans and grants, borrowings, investments, derivatives, capital, payroll, fixed assets, and administrative accounts of the Bank. The ability to demonstrate adaptive capacity in and managing financial control activities of the Bank (e.g., Financial Statements, General Ledger and Budget) while addressing emerging trends and evolving client needs sustains the relevance of Bank finance policies and programs and positions the organization to be an effective partner in the area of development. 

Purpose 
● Develop financial control initiatives that align with the Bank's strategic priorities with focus on treasury accounting and budgeting.
● Tailor approaches to financial control policies, strategies, implementation plans, etc. to reflect needs and a deep understanding of financial institutions to sustain the operations of the Bank.

Engagement
● Advise managers and teams on new approaches to sustain the quality of financial control services, improve the efficiency of accounting processes, and ensure compliance with regulatory requirements.
● Liaise with non-financial teams to promote a cross-functional approach to decision-making, streamline cross-functional processes, and ensure that the financial and program implications of decisions are properly understood and managed.
● Establish collaborative networks with international financial institutions, regulatory bodies, clients, and other stakeholders to understand their financial requirements, expectations, and challenges, and to sustain financial control activities.
● Promote NDB financial control activities through outreach and engagement with key stakeholders, by sharing financial analyses and recommending innovative solutions to address financial risks.

Delivery 
● Manage the financial control activities (Treasury accounting and analysis and budgeting) against established cycles/schedules, while continuously monitoring the financial status, identifying potential risks, and recommending corrective actions that support service delivery.
● Incorporate new financial control policies and procedures, into financial reports, planning, and analysis, and ensure timely delivery of financial services to support the operations of the Bank.
● Sustain the quality of financial control services through adaptation to changing operational demands and client feedback, and ensure the accuracy and timeliness of financial reporting and analysis.
● Develop and implement financial control mechanisms, reporting standards, and financial management best practices to ensure compliance with the Bank's financial policies and regulatory requirements and to support the continuous improvement of financial services.

Target Skills Profile

Substantive Knowledge
● Demonstrated capacity gained through education and experience in (treasury accounting and analysis) reflecting conceptual understanding in an operational setting
● Understand the treasury products and accounting requirements from IFRS perspective and budgeting.
● Financial analysis and reporting of treasury products, knowledge of Hedge Accounting and budgeting.

Communication Skills
● Demonstrated Skill gained through exposure/experience in relationship management
● Advise stakeholders on possible impediments to sustaining delivery standards to develop strategies.
● Engage stakeholders proactively to define expectations/needs and builds an informed framework for service delivery.

Execution Skills
Demonstrated Achievement in the consistent delivery of programs/services through adaptation.
Meet consistently the program delivery standards on timing and the deployment of resources.
Meet consistently program delivery standards in terms of quality/relevance.

Requirements
● Master’s degree or equivalent/ Chartered Accountant / Certified Public Accountant with Finance as specialization;
● At least 9 years of relevant experience;
● Extensive experience in IFRS reporting in the areas of Treasury Finance and budgeting;
● Experience in working in Big 4 Accounting Firms / Commercial Banks / MDBs;
● Fluency in English essential to communicate in writing and speaking.