IDB3311 - Senior Project Financial Management Specialist

Business Unit: Operations Complex
Division: Project Procurement and Financial Management
Department: Project Financial Management
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 04-May-2024

Job Purpose:

Act as a key expert to ensure integrity of the Bank’s operations transactions through developing policies, guidelines, procedures and tools, as well as to provide support to ensure and enhance adequacy of financial management systems of Bank’s operations. Assist the Member countries in the development of their project financial management systems to promote greater adoption of country systems. Develop and disseminate knowledge and best practices in projects and public financial management and ensure consistent improvement of the practice area in the Bank. Create awareness and build capacity of the staff on issues related to project financial management. Conduct assessment of public financial management systems and its interaction and impact on IsDB operations.

Key Accountabilities:

Strategic and Operational Planning

  • Develop and update project financial management policy, guidelines and procedures.

  • Review IDB’s policies and procedures to ensure consistency with the project financial management policies of the Bank.

  • Promoting and sharing knowledge on public and project financial management and major new initiatives, instruments, and requirements of the new policy.

  • Enhance the procurement process related to PFM, particularly the terms of reference, for the selection of auditors and financial management consultants for projects.

  • Understand client's needs and developmental challenges and identify entry points for public financial management and governance interventions to improve country financial management systems.

  • Work with regional hubs and teams to address PFM and governance issues in the MCPS, lending operations, analytical work and advisory services to clients.

  • In coordination with regional hubs/, lead the design and execution of major PFM policy initiatives in member countries.

  • Lead development of standardized financial management documents (e.g. tools, templates, checklists).

  • Support in financial management of complex operations and ensure compliance with policies and procedures of the Bank.

  • Review audit reports of complex projects to ensure compliance with IDB's financial management policies/guidelines and raise flag in case of any risk.

  • Lead and/or take a proactive role in ground-breaking initiatives and playing a key role in developing innovative practical approaches to difficult policy and operational issues related to financial management at project, program or country level.

  • Develop the necessary controls to detect unusual occurrences as part of an early-warning system to help prevent fraud and corruption.

  • Prepare country financial accountability assessments over the project cycle of the Bank.

  • Lead in setting up of financial management and flow mechanisms in conflict, emergency situations and non- MC settings.

  • Leading the development and implementation of approaches to make greater use of country financial management systems in IsDB lending operations;

  • Contributing to departmental or institutional task forces on developing and implementing changes to financial management policies and practices, fiduciary safeguards and the efficiency and effectiveness of business processes and risk management in projects;

  • Facilitating and promoting in-country cooperation with other development partners in the area of public financial management and governance, including diagnostic work, capacity building initiatives, use of country systems and harmonization.

Academic and professional qualifications:

  • Bachelor’s degree in Finance, Economics, Business Administration or any other related field.

  • Minimum 8 years of relevant experience in project finance, auditing, risk management or any relevant field.

  • CPA, CA, CMA or any relevant accounting certification would be preferred.

Skills & Necessary Knowledge:

  • Proficient project management knowledge and project cycle.

  • Proficient understanding of operational policies, guidelines and procedures.

  • Proficient knowledge of project financial management

  • Proficient ability to work with different stakeholders.

  • Proficient ability to articulate and influence others.

  • Advanced report writing skills.

  • Proficient planning & organizing skills.

  • Proficient presentation skills.

  • Proficient communication skills


  • English - Mandatory

  • French - Mandatory

  • Arabic - Preferred