Financial Management Consultant
Beijing
- Organization: AIIB - Asian Infrastructure Investment Bank
- Location: Beijing
- Grade: Consultancy - Consultant - Contractors Agreement
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Occupational Groups:
- Operations and Administrations
- Banking and Finance
- Impact investing, Social venture capital
- Closing Date: 2024-12-02
Application close date
12/02/2024
1. Project Background
AIIB has several investment projects under preparation and implementation. The Bank is looking for an individual consultant to support the Financial Management (FM) team in Fiduciary Solutions Department (SFD) to carry out FM tasks and responsibilities related to AIIB Financing Operations.
2. Objectives of the Assignment
The purpose of this assignment is to support the team on FM operations, such as legal covenants monitoring, FM compliance data system maintenance, input to FM due diligence and implementation review under the FM Specialists’ guidance.
3. Scope of Services
The Consultant will be responsible for supporting the review and management of audit and financial reports, ensuring Projects comply with legal covenants; Working on operational system team (e.g. IMIS) and maintain comprehensive FM compliance databases, generate regular compliance reports, and analyze data to identify the FM issues; Supporting the FM Team and Borrowers to strengthen compliance practices and participate in capacity-building initiatives; Supporting the FM team on the research work of Public Financial Management areas and portfolio related matters; Supporting the team on FM due diligent and implementation review.
4. Consultancy Output / Deliverables
Detailed Tasks/ Activities Maintain the audit compliance database and update the Audit Compliance Status for Sovereign Backed Financings and Trust Funds for all Projects under implementation. Compile data to generate audit compliance report regularly, including but not limited to monthly report, input to Quarterly Implementation Monitoring Report (QIMR), Semi-Annual and Annual Report on Audit compliance. Collaborate with the IMIS and ITD team to enhance the audit tracking function and implement system improvements as needed. Assist FM specialists in preparing audit waivers according to FM Guidance Notes. Assist in reviewing audit reports and Interim Unaudited Financial Reports (IUFR) reports under FM Specialists’ guidance. Offer guidance and advisory support to Borrowers and Implementation Agencies on audit report submission matters. Assist FM specialists to conduct FM assessment and implementation review under FM Specialists’ guidance. Contribute to capacity-building efforts as needed. Other tasks assigned by the FM team. Consultancy OutputIncluding but not limited to: Establish and manage a detailed, up-to-date database for audit reports and IUFRs, tracking report receipts and ensuring compliance with legal covenants. Maintain a structured repository on the shared drive for all legal covenants, audit reports, IUFRs, and FM-related documents to ensure easy access and reference. Maintain and update master files and monthly compliance reports for the Project portfolio. Conduct data analysis on audit performance and provide data and insights for QIMR, Semi-Annual and Annual Project Portfolio Reports, as well as other reporting requirements from FM specialists. Input to IUFR and audit reports review memo under FM Specialists’ guidance. Input to FM assessment reports and implementation review reports under FM Specialists’ guidance.
5. Implementation Arrangement
The Consultant will work closely with the Bank’s Financial Management Specialists in monitoring FM related legal covenant, assist in reviewing audit and financial compliance and other required input to the FM team based in HQ, Beijing.
6. Support to the Consultant by the Bank
The Bank’s Financial Management Specialists will coordinate with the Client and Bank team to ensure the requested documents/data available to the Consultant.
7. Knowledge Transfer and Training
The Consultant will be required to conduct training sessions on audit compliance for the Borrower/Implementing Agencies when needed.
Qualification Requirement
Minimum 3 years’ experience in audit and financial reporting with MDB financed operation or accounting firms. Necessary knowledge and experience in application of International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), International Standards on Auditing (IAS), or International Standards of Supreme Audit Institution (ISSAI). Demonstrable analytical, organizational, and data management skills, with strong attention to detail, accuracy, and problem-solving abilities in managing compliance data. Either professional (e.g. CPA) or academic qualifications (Bachelor or higher degree) in accounting, auditing, finance, financial management or related academic field. Proficient oral and written communication skills in English.
Applications from non-qualifying applicants will most likely be discarded by the recruiting manager.