Field Disbursement Officer (Regional Hub of Nigeria) Job at Islamic Development Bank (IsDB)

The Islamic Development Bank (IsDB) is a multilateral development bank (MDB) which funds its projects and other developmental activities using Islamic finance. Hence, the name “Islamic”. Founded in 1975, the IsDB is headquartered in Jeddah, the Kingdom of Saudi Arabia. The purpose of the Bank is to foster economic development and social progress of its member countries.

We are recruiting to fill the position below:

Job Position: Field Disbursement Officer (Regional Hub of Nigeria)

Ref No: IDB3068
Job Location: Abuja
Business Unit: Vice President Finance & CFO
Division: Not Applicable
Department: Not Applicable

Job Purpose

• Review and verify operational disbursement requests and documentation in the Regional Hub in coordination with project management unit or relevant agency. Determine whether the disbursement request should be approved, reduced or rejected in accordance with the Bank’s policies and procedures. Allocate disbursement commitments to relevant contracts and ensure timely completion of disbursements.
• Maintain accurate and complete records relating to Regional Hub’s project accounting activities, coordinate with respective parties for resolution of disbursement related problems. Provide technical support during project preparation and disbursement workshops.

Key Accountabilities
Dues and Disbursement Management:

• Process disbursement requests from the Project Management Unit or the relevant agency in the Regional Hub to verify and determine the appropriateness of requests and supporting documents for the disbursement in accordance with Bank’s policies and procedures.
• Liaise with the Regional Hub management, project executing agencies and the borrowers, in the resolution of disbursement related problems.
• Participate in technical discussions and new project negotiations to ensure that disbursement arrangements are compliant with Bank’s disbursement policies.
• Maintain 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.
• Draft clear and concise correspondence to project management unit or operational staff regarding disbursement related issues.
• Monitor utilization of Special Accounts, ensuring that the funds are properly accounted for and used in accordance with Bank procedures.
• Participate in project missions to verify use of project finances and resolve disbursement issues.
• Participate in reconciliation of project balances and issuance of project statements to Member Countries (i.e. reconciling borrowers’ and the bank’s records).
• Prepare and update repayment schedules, prepare billing statements and track the repayment of amounts due and overdue in the Regional Hub.

Financial Analysis:

•  Perform specific analyses of financials or operating data and submit recommendations for consideration of management.
•  Analyze the current projects status and identify any problem areas that warrant attention of the concerned departments.
•  Participate in standard and ad hoc analyses to meet variety of management objectives.

 Policies, Processes & Procedures:

•  Contribute in drafting policies and procedures as per management instructions.
•  Provide guidance on interpretation of IsDB policies and procedures, and regulations applicable to operations financing in the Regional Hub.
•  Analyse and identify gaps and suggest improvements to policies or procedures for more effective operations.

Reporting & Communication:

• Prepare periodic reports on disbursement activities and disbursement projections for the Regional Hub and HQ management.
• Prepare ad-hoc reports as and when required by management.

Education, Certification & Experience
Academic and professional qualifications:

• Bachelor's Degree in Accounting, Finance, Business Administration or related field.
• Minimum of 5 years of relevant experience in finance and accounting, preferably in a multi-lateral sector.
• Additional qualifications of CPA, ACCA, CMA or equivalent would be preferred.

Skills & Necessary Knowledge:

• Aptitude for figures and attention to detail.
• Building Relationships.
• Passion for Excellence.
• Financial Analysis.
• Financial Management.
• Financial Reporting.
• Accounting.
• Analytical Thinking.
• Problem-Solving.
• Stakeholder Management / Client Orientation.
• Knowledge of the development sector.
• Good understanding of project management.
• ERP skills-SAP Finance Module.

Languages:

• English (Mandatory – for all regions).
• Arabic (Mandatory – for Arabic-speaking regions). 
• French (Mandatory – for French-speaking regions).