IDB3226 - Senior Budget & Financial Management Specialist

Business Unit: ISFD
Division: Not Applicable
Department: Not Applicable
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 15-Feb-2024

Job Purpose:

The purpose of this role is to assist in the financial management of the ISFD, including the management of the budget process, help maintain the financial sustainability models to ensure that ISFD is well-positioned to meet its financial obligations in the future, and maintaining sustainable financials. The role focuses on managing the annual budget including planning, budgeting, and forecasting process and determination of loans and grants capacity for funding poverty alleviation activities. In addition, the role works with the Investment and Treasury department to ensure all short term and long-term investments are in line with ISFD strategy. The role also liaises with all other stakeholders on ISFD financial related matters.

Key Accountabilities:

Formulate financial plans

  • Analyze historic financials and income to estimate future income and expenses and create forecasted financial statements.

  • Plan, budget and forecast financials plan including the investment and operations assets.

  • Maintain, update and run financial sustainability model to produce financial sustainability financials.

  • Prepare annual budget and updated financial projections to estimate future financial needs and liquidity requirements.

  • Determine annual loans and grants budget for ISFD to be used for poverty alleviation programs/ projects/ initiatives.

  • Assist the department in ensuring compliance with the various policies and guidelines of the ISFD.

Policies, processes, and procedures

  • Recommend updates and contribute to the development of ISFD finance related policies, including but not limited to financial management policy, investment policy, risk management policy, etc.

  • Contribute to the development, updates to, and implementation of processes and procedures specific to the financial management of ISFD.


  • Oversee and contribute to the preparation of annual reports.

  • Ensure financing controlling reports (investment performance, risk and compliance reports) are compiled, validated and communicated to top management.

  • Compile financial sustainability and financial planning reports.

  • Develop reports on instruments not invested as part of waqf capital.

  • Prepare investor reports for resource mobilization instruments containing the financial performance of instruments.

Stakeholder management

  • Manage relationships with and meet regularly with relevant IsDB departments, particularly, Finance, Investment, Treasury, and Risk Management.

  • Coordinate with IsDB Investment department to conduct fund manager selection for resource mobilization instruments such as Cash Waqf Sukuk and IWIF.

  • Manage relationships with donors, benefactors and other external stakeholders.

Academic and Professional Qualifications:

  • Bachelor’s degree in Accounting/ Finance/ Commerce / Economics/ Business Administration / or related field.

  • Minimum 8 years of experience in related field within similar institutions (MDBs) with at least 3 years hands-on experience in on budget and financial management. Experience should include planning, budgeting, and forecasting of financials.

Skills & Necessary Knowledge:

  • Understanding of budgetary and accounting principles, practices & policies

  • Strong numerical ability

  • Diligence.

  • Excellent written and verbal communication skills.

  • Stakeholder management.


  • English - Mandatory

  • Arabic - Preferred

  • French - Preferred