IDB1822 - Lead Financial Management Specialist (Disbursement)

Business Unit: Finance Complex
Function: Administrative Expenses & Disbursements Division
Department: Financial Control Department
Contract type: Conditional Regular (Indefinite) Employment
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 31-May-2017
Department: To ensure disbursements are done accurately and on specified time as per Bank’s policies and procedures. This role participates in negotiations related to disbursements terms and conditions with member country officials / executing agencies. This role also provides technical guidance to less experienced staff.  
  • Lead the development of the Division’s annual work plan.

  • Advise the Division Manager on the establishment and review of KPIs.

  • Provide performance feedback to Division Manager of staff working in the team.

  • Provide guidance and advise to the Sector Departments, relevant Departments of the Cooperation & Capacity Development Complex and the Regional Offices during the preparatory phase, financing agreement negotiations and during the implementation phase of projects.

  • Lead the development and maintenance of Bank’s policies for disbursements, with a view to ensuring the integrity of the Bank’s financial transactions with its borrowing member countries.

  • Technically lead the enforcement of policies and guidelines for disbursements.

  • Develop, monitor, and update disbursement methods and procedures for the Bank Group.

  • Oversee the development and implementation of end-to-end disbursement process workflow in coordination with other IDB departments ensuring alignment with IDB’s policies and procedures.

  • Ensure compliance of disbursement activities with regulatory requirements.

  • Technically lead the integration of division’s policies and procedures with SAP, CML and Misys systems.

  • Oversee processing of all disbursement requests by the Sector Departments, relevant Departments of the Cooperation & Capacity Development Complex and Regional Offices and ensure conformity with disbursements procedures and contractual obligations.

  • Review and clear disbursements with large amounts for approval by Division Manager.

  • Liaise with Sector Departments, relevant Departments of the Cooperation & Capacity Development Complex and Regional Offices and executing agencies and borrowers in the resolution of disbursement related problems.

  • Ensure proper maintenance of basic data in L/C sub-system in the main frame (GL).

  • Liaise with Legal Department to facilitate necessary clearance for processing of disbursement requests.

  • Ensure maintenance of accurate and complete records relating to financing including authorized signatories for disbursement, list of goods and services, declaration dates of loan effectiveness, etc.

  • Identify and adopt best practices in disbursements.

  • Benchmark best practices at other MBDs.

  • Provide technical guidance to less experienced staff.

  • Provide training to borrower countries/executing agencies on disbursement procedures for disbursements not handled at the Regional Offices and familiarize them  with the applicable rules for sanctions in cases of arrears.

  • Represent IDB in local, regional and international conferences and start-up workshops related to developments in disbursements policies and procedures.

  • Ensure timely and accurate preparation of periodic reports on disbursement activities and disbursement projections for Management and the Board of Directors.

  • Oversee preparation and presentation of project status and completion reports.

  • Participate in meeting with borrowers or external agencies to ensure that disbursement arrangements are in line with IDB’s policies and guidelines.

  • Facilitate internal and external audit of the Division.

  • Represent the Division in meetings with other IDB departments to discuss and develop plans to further strengthen IDB’s financial position.


University degree inFinance / Accounting / any related discipline

15 years of relevant experience with Bachelor degree

12 years of relevant experience with Master degree

10 years of relevant experience with PhD degree 

Professional Certificate CPA, CA, ACCA, or equivelant

Other Information:
  • Adaptability

  • Building Relationships

  • Client Centricity and Responsiveness

  • Motivation to Learn and Share

  • Passion for Excellence

  • Analytical Thinking

  • Communication Effectiveness

  • Drive for Results

  • Knowledge, Learning and Communication

  • Problem Solving

  • Stakeholder Management/Client Orientation

  • Strategic Planning

  • Teamwork

  • Bank Knowledge

  • Accounting

  • Financial Management

  • Financial Reporting

  • Vendor Management

  • Policies and Procedures


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