Chief, Financial Controller

Job description / Role

The FBA Department, under the VP & CFO, is functionally responsible for the financial reporting, financial controls, budgeting, loans management and Treasury Back Office.

The Chief, Financial Controller is responsible for leading the General Accounting and Financial Reporting processes at the Bank and the budgeting processes.

Duties And Responsibilities

Purpose
• Lead technical and strategic development within the area of financial reporting, financial controls and budgeting.
• Bring together specialist capacities and financial resources to create an effective platform of service in financial reporting and budgeting aligned with business needs and institutional mission.
• Direct delivery of Financial statements ensuring compliance with International Financial reporting standards.
• Design, maintain and continuously improve the Bank’s budgeting models.
• Focus on developing effective financial controls standards and operating procedures to reduce operational and financial risks.
• Provide oversight of complex accounting transactions to ensure that accounting treatment is in compliance with relevant accounting standards.

Engagement
• Empower team members to pursue innovative approaches in financial reporting which advance the program and distinguish the organization.
• Nurture talent and coach the team to ensure continuous learning and development of the team.
• Develop plans for staff development, team organization, and mentorship to strengthen the capacity of the financial control area to deliver on its mandate aligned to the greater work of the Department.
• Build collaborative relationships across the Bank as well as with all relevant external stakeholders, including the Independent External Auditors.

Delivery
• Formulate, implement and manage policies and guidelines for financial reporting, financial control and accounting, as well as budgeting, taking into account innovative and world-class procedures and standards in financial management and financial control.
• Lead the preparation of annual financial statements and quarterly financial reports, in accordance with International Financial Reporting Standards (IFRS), to be presented to the Board of Directors, Board of Governors, auditors and other stakeholders.
• Managing all financial transactions of the Bank, financial control systems, and transaction-processing operations in adherence to policies and procedures.
• Ability to lead, perform and present analytics on financials and budgets to management and Board that would enable decision making and understanding of the Banks financial performance
• Manage account receivables and account payables (including expense management).
• Maintain a documented system of accounting policies and procedures and ensure sound management of all day-to-day financial operations, authorization of project disbursements, administrative expenses, etc.
• Actively engage in procedural activities of identifying budget requirements, future planning for the business plan and manage budget compliance.
• Provide a quarterly budget utilisation report which reflects the Bank’s management of the full-year forecast and other budget reports as required by management.
• Design, maintain and continuously improve the Bank’s budgeting models.
• Implement innovative solutions and systems to optimize financial control processes and introduce efficiencies in financial reporting, including but not limited to Artificial Intelligence and RPA technologies.

Target Skills Profile

Substantive Knowledge
• In-depth knowledge of the financial services sector, budget management, financial accounting principles, financial reporting standards and their applications within the different member countries.
• Knowledge of technology-based accounting systems and applications especially for organizations in the financial sector.
• In-depth knowledge of Application of Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) in member countries, especially for the financial sector.
• Minimum of 12 years of relevant professional experience in a multilateral development bank or equivalent or regulated private sector financial institution with experience in at least one of the areas of finance controller, budgeting or accounting functions.

Communication Skills
• Demonstrated skills gained through managerial experience in previous roles.
• Enable the team to take accountability through delegation of authority.
• Ability to communicate and extract relevant qualitative and timely information from stakeholders.
• Deepen client relationships through continual engagement on needs and opportunities.

Execution Skills
• Strong leadership and managerial skills in managing a diverse workforce.
• Manage delivery process to adapt to varying conditions and sustain standards on speed of delivery.
• Exceptional strategic thinking, leading changes, problem solving, communication and interpersonal skills with high resilience and drive in achieving objectives and goals.

• Master’s Degree or equivalent in a relevant professional field from a reputed university or a professionally qualified accountant.
• Relevant certification/s from globally recognized certification agencies in the related field would be preferred.
• Minimum of 12 years of relevant professional experience in a multilateral development bank or equivalent or regulated private/public sector financial institution.
• Relevant experience in a multi-cultural work environment fostering a climate of teamwork and collaboration.

About the Company

The New Development Bank (NDB) is a multilateral development bank (MDB) established by Brazil, Russia, India, China and South Africa (BRICS) with the objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries. NDB’s work complements the efforts of multilateral and regional financial institutions, toward global growth and development.

Our work is centered around maximizing the impact of development in a fast, flexible and efficient manner. To catalyze the kind of development we envisage, we are always keen to listen, learn and collaborate with other MDBs, governments, financial institutions and social organizations.

To fulfill its purpose, the Bank supports public or private projects through loans, guarantees, equity participation and other financial instruments.

Our headquarters is in Shanghai, China. The geographic distribution of NDB’s operations is becoming increasingly balanced as the Bank develops its capacity to identify and prepare projects in all member countries. The first regional office of NDB – the Africa Regional Centre (ARC) – was opened in Johannesburg, South Africa, in August 2017. In July 2019, NDB began to build the Americas Regional Office team, based in São Paulo, Brazil, with a sub-office in Brasília. NDB and the Government of Russia signed the Agreement on the Hosting of the NDB Eurasian Regional Centre in Moscow, Russia on the sidelines of the 11th BRICS Summit in Brasília in November 2019.