Regional Disbursement Specialist Regional Disbursement Specialist …

ISDB - Islamic Development Bank
in Jeddah, Makkah, Saudi Arabia
Permanent, Full time
Be the first to apply
Competitive
ISDB - Islamic Development Bank
in Jeddah, Makkah, Saudi Arabia
Permanent, Full time
Be the first to apply
Competitive
Oversee disbursement activities in regional-hub to ensure compliance with Bank’s related procedural guidelines for disbursements. Review disbursement applications to ensure that all conditions and requirements preceding disbursements are satisfied and that internal rules and procedures are complied with, prior to approval and payment. Verify and approve disbursement requests of up to ID 500,000. Support operational staff in negotiations related to disbursements terms and conditions with member-countries and coordinate with respective parties for resolution of disbursement related problems. Contribute to the review and update of IDB’s fiduciary-policies and guidelines, and participate in assessing capacity development requirements at the regional hub level.

Key Accountabilities

Operational & Strategic Planning

  • Participate in the development of annual work plan (including budget) of the Division
  • Provide data and historical information required as input to planning activities of the division.

Dues and Disbursement Management

  • Monitor processing of disbursement requests in the regional hubs
  • Liaise with regional hub management, executing agencies and borrowers, in the resolution of disbursement related problems
  • Prepare periodic reports on disbursement activities and disbursement projections for the regional hub for management
  • Review and recommend changes to disbursement systems, policies and procedures to optimize the disbursement process while maintaining effective internal controls
  • Provide technical support to operational staff in the preparation of project documents such as Appraisal Report and RRP.
  • Provide disbursement-related assistance to Operations in project launching and portfolio review missions.
  • Contribute to the review and update of IDB fiduciary policies and guidelines
  • Monitor maintenance of reliable and timely financial records for project accounting and reporting on the performance of the portfolio with special focus on approval, disbursements, cancellations and recoveries in the regional hub
  • Monitor reconciliation of project balances and issuance of project statements to Member Countries (i.e. reconciling borrowers’ and the bank’s records)
  • Provide leadership and support to Field Disbursement Officers (FDO), including clear direction and monitor of the work done by FDOs

Financial Analysis

  • Analyze and report on the status of completed projects, identifying problematic areas warranting the attention of to the concerned Departments in the Country Programs Complex
  • Reconcile project balances and issuance of project statements to member countries   

Policies, Processes & Procedures

  • Contribute to updating of policies related to dues and disbursement of the bank
  • Ensure compliance with IDB’s suspension policy on account of operational overdues
  • Monitor adherence to bank’s operational policies and procedures relating to bank financing
  • Enforce policies and guidelines for billing and repayment by beneficiaries

Reporting & Communication

  • Perform financial analysis and provide required data for inclusion on the annual report
  • Coordinate with external auditors of the Bank on operations financing audit
  • Prepare periodic and ad-hoc reports as requested by management

Job Requirements

Academic qualifications

  • Bachelors degree in Accounting, Finance, Economics, Business Administration or related field is required,
  • Masters degree is preferred.
  • Membership of an internationally recognized professional association of accountants, i.e., CPA, CA, ACCA, CMA or an equivalent certification is preferred

Languages

  • English and French (mandatory)
  • Arabic (preferred)

Minimum number of years and nature of experience

  • At least 7 years of relevant and progressive professional experience
  • Ability to write reports and perform tasks on time
  • ERP and procurement experience is preferred

 

Job specific competencies

  • 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
  • Teamwork
  • Bank Knowledge
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Accounting
  • Project Management
  • Project Documentation
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