May 1st, 2023 at 09:58 am
African Development Bank Job Vacancy Notice
Job Title: Senior Disbursement Assistant
The African Development Bank is the most important pan-African development organization. It was founded in 1964 and works to promote economic growth and social progress across the region. There are 81 member states, and 54 (Regional Member Countries) are in Africa.
The Bank’s development agenda is making sure that transformative projects get the money and professional help they need to help reduce poverty through inclusive and long-term economic growth. So that the goals of the Ten Year Strategy (2023-2032) are clearer and have a bigger impact on development, five major areas (called “High 5s”) that will all speed up our delivery for Africa have been chosen to be scaled up. These areas are energy, agro-business, industrialization, integration, and improving the quality of life for the people of Africa.
THE COMPLEX:
The Vice Presidency for Finance is in charge of the Bank Group’s finances. This includes the Bank Group’s treasury activities, such as borrowing from the capital markets and making investments; the controllership functions, such as financial reporting and loan administration; the strategic mobilization of resources and the strengthening of non-statutory financial resources and instruments; and the Bank Group’s overall management of assets and liabilities.
THE HIRING DEPARTMENT/DIVISION:
The Financial Control Department of the African Development Bank (The Bank) is in charge of keeping track of the financial effects of the Bank Group’s transactions and decisions, as well as preparing, presenting, and making sure the internal financial reports and published financial statements are accurate and honest.
The department is also in charge of loan management, accounting, and other fiduciary tasks, such as sending money to projects and programs that the Bank Group is paying for. Lastly, the department helps people make decisions and gives them advice on how to make and use financial control policies, practical and financial strategies, and information systems that go with them.
The main goal of the Loan Disbursement Division is to make sure that the Agreement Establishing the African Development Bank and Fund’s key trust-related items are followed. Make sure that there are enough checks on how the money for a Bank Group-funded project is spent.
THE POSITION:
The Disbursement Assistant works under the general supervision of the Disbursement Officer. The main job of the Disbursement Assistant is to make sure that borrowers’ requests are complete according to the Bank’s policies and procedures, check the documentation, and handle disbursements or requests for special commitments.
The incumbent helps with negotiations, mission planning, and disbursement seminars. They also make sure that the money from Bank Group and co-financed projects is sent out on time, according to the loan and protocol agreements and Bank Group policies.
KEY FUNCTIONS:
Among the duties of the Disbursement Assistant are the following:
Processing of Disbursement Transactions:
- Analyze and decide if the borrowers’ requests for disbursements and the paperwork they send along with them are suitable.
- Based on the Bank’s policies and procedures, decide if they should be accepted, lowered, or turned down. This means finding mistakes and people who don’t follow Bank procedures and policies. It also means pointing out situations where the Bank may be at financial risk so they can be looked into further.
- Review the disbursement systems, policies, and processes and suggest changes to improve processing speed, accuracy, and efficiency while keeping the right internal controls.
- Write clear and brief letters to borrowers and operational staff about problems related to disbursement.
- Handle changes to special commitments and write amendment letters.
Project Management
- Task Team Leaders, borrowers, commercial banks, and suppliers may ask you about payments, balances, and the progress of your application.
- Work with the offices and parties involved to quickly solve problems with disbursements.
- Watch how borrowers use the money in their special accounts to make sure the money is properly paid for and used according to Bank rules.
- Take part in loan disbursement tasks to check how resources are being used and solve problems with loan disbursement.
- Contribute to making disbursement processes more efficient by making sure that records and reports are always kept in good shape and up to date.
- Take part in technical talks and loan negotiations to make sure that the plans for disbursement are in line with Bank Group policies.
- As asked by the Disbursement Officer, give feedback on audit reviews and make sure borrowers follow audit findings.
Building up abilities
- Help train the people who work for Executing Agencies, Projects, and the Bank.
- Take part in making materials for workshops on disbursement.
- Respond to questions regarding disbursement processes.
- Answer questions about payments, balances, and the state of an application from Task Team Leaders, borrowers, commercial banks, and suppliers.
Tasks for departments and divisions
- Participate in departmental/divisional task groups.
- Find problems with policies, processes, and guidelines for disbursement and suggest actions or improvements.
- Take on random tasks as asked by the Country Manager or the Division Manager.
- Review project papers like Appraisal Reports, Country Strategy Papers, and Project Completion Reports with your supervisors and give them feedback.
SKILLS, EXPERIENCE, AND KNOWLEDGE (COMPETENCIES):
- Have at least a Bachelor’s degree in accounting or business administration.
- Have at least six years of direct experience in the field, ideally in accounting at a large company.
- Familiarity with multilateral development organizations’ disbursement policies, guidelines, and procedures
- Good understanding of the main ideas and principles of accounting and how to use them.
- Analytical, organized, good with numbers, and pays close attention to details.
- Being able to plan and handle schedules so that tight deadlines can be met.
- Good knowledge of internal control and business skills with numbers and attention to detail.
- Ability to quickly adapt to new policies, methods, and ways of doing things.
- Good client focus, getting results and solving problems, communicating and sharing knowledge, being innovative and open to change.
- Ability to talk and write clearly in English or French, and a good working knowledge of the other language is preferred.
- Skilled at using Word, Excel, PowerPoint, and Project, which are all part of MS Office. It would be helpful to know how to use SAP.
How to Apply for this African Development Bank Job Vacancy
Closing Date: 19th May 2023
Also, For more Job Opportunities CLICK HERE
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