Director, Financial Controls

As a European based Multilateral Development Bank, the OPEC Fund for International Development (the OPEC Fund) is globally mandated to provide development financing to non-member countries exclusively. SRI Executive Search has been engaged by the OPEC Fund to assist with the search for an exceptional candidate to fill the position of Director, Financial Controls.

About the OPEC Fund

The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively.

The organization was established in 1976 with a distinct mandate: to advance social and economic progress in low- and middle- income countries around the world. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. We champion South-South Cooperation and work in concert with trusted partners to help countries achieve the 2030 Agenda for Sustainable Development.

To date, the OPEC Fund has committed more than US$30 billion to development projects in over 125 countries with an estimated total project cost of more than US$200 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and S&P Global Ratings.

Our Vision

A world where sustainable development is a reality for all.

Our Mission

Together we drive development, strengthen communities and empower people.

Strategic Framework 2030

Approved by the Ministerial Council in 2019, the Strategic Framework 2030 provides a roadmap for the OPEC Fund to transition to a premier MDB that is larger and more responsive to the needs of partner countries, while continuing as an excellent steward of resources and a strong contributor to the achievement of the Sustainable Development Goals (SDGs).

Partnerships are valued at the OPEC Fund and collaboration through a large network of strategic co-financing partners plays an integral role in delivering impact. With strong credit ratings (S&P AA+ (Outlook Stable) and Fitch AA+ (Outlook Stable) we have preferred Creditor Treatment, a robust financial profile, a prudent risk management framework and access to funding through the international capital markets.

For more information about the OPEC Fund, visit

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Role Purpose

The Director, Financial Controls is a vital role ensuring the highest standards of financial management for the OPEC Fund. It is responsible for managing and executing the work plan of the financial controls unit in accordance with the institutional strategy and framework, lead the implementation of a robust internal control framework and ensure the timely, accurate delivery of financial statements in full compliance with accounting standards, Fund's policies and priorities as well as international best practices.

Major Duties and Responsibilities

Financial Management and Control

• Ensures quality controls over financial transactions, maintains accurate records of accounts and supporting documents for all financial transactions of the OPEC Fund.
• Manages the financial reporting requirements of the Fund and any special funds under the OPEC Fund's administration to safeguard financial integrity and ensure compliance with International Financial Reporting Standards and other Special Accounting Standards.
• Leads the quarter-end and year-end close process to ensure accurate and timely reporting.
• Authorizes administrative payments in accordance with the relevant approvals, rules and guidelines.
• Verifies compliance with financial/accounting rules and procedures, including cost center allocation.
• Promotes a sound internal control environment by managing the design, implementation, update, and dissemination of policies, procedures and guidelines for recording, processing and reporting financial transactions.
• Drives financial innovation and leads the implementation of best practices, systems enhancements, and workflow optimization.

Back Office

• Oversees banking and custodian relationships to ensure all financial transactions are executed and settled timely.
• Advises and partners with Treasury on a wide-ranging of activities, including cash and liquidity management, foreign exchange, funding and reporting valuations externally to the Custodian and internally for accounting purposes.
• Reviews and authorizes the confirmation of treasury deals, in accordance with the approvals and established procedures, rules and regulations.
• Supervises the creation and maintenance of business partner records.

Leadership and Direction

• Provides leadership and manages a highly skilled, multicultural diverse team of professionals with direct reporting from Accounting (Financial Controls and Reporting) and Back Office.
• Leads by example, inspiring and motivating the team to maintain the highest level of engagement with the institution.
• Drives and supports change management initiatives.
• Manages engagement with external auditors to assist them to discharge their responsibilities, ensuring accurate, timely, and complete submission of financial data to the Audit & Risk Committee.
• Develops and mentors staff and supports personal development plans.

Capability Building

• Strengthens the capacity building of the Fund by leading the enhancement of financial management processes and procedures; participates in the committee/s relevant to these matters.
• Carries out other tasks assigned by the Vice President, Finance that are related to the job function.

Profile

• Master's degree in Accounting, Business Administration, Financial Management or other closely related field.
• A recognized accounting certification such as the CA or CPA is required.
• Minimum of 15 years relevant professional experience.
• Minimum five (5) years at a similar function.
• Fluent in English. Good working knowledge of Arabic, French, German or Spanish is an added advantage.

Competencies

• Subject Matter Knowledge - In-depth understanding and expertise in specific fields relevant to the OPEC Fund's operations and the individual's role.
• Ability to Work Under Pressure - The capacity to remain composed, focused and productive when facing tight deadlines, high-stakes situations and demanding workloads.
• Collaboration and Teamwork - The ability to effectively work with colleagues, stakeholders and partners to achieve shared goals.
• Communication - The ability to relay ideas, information and messages effectively and succinctly to a variety of audiences.
• Customer Centricity - The ability to focus on comprehending and addressing customer needs; consistently deliver exceptional service and foster strong, lasting customer relationships.
• Cross-Cultural Sensitivity - The ability to take into account the variety of the human experience and how it contributes to the workplace and to demonstrate respect for diverse cultures and viewpoints.
• Decision making - The ability to analyze information comprehensively to make well-informed decisions; assess both immediate and long-term ramifications.
• Effective Planning and Follow Up - The ability to set clear goals and priorities; skilfully organize tasks for efficiency; consistently follow through on commitments and plans.
• Problem Solving Ability - The ability to identify issues adeptly, delve into root causes, and devise pragmatic solutions; demonstrate ingenuity and resourcefulness in overcoming challenges.
• Sense of Responsibility - The ability to demonstrate ownership and accountability in tasks and outcomes; uphold reliability and commitment to fulfilling responsibilities.

Leadership Competencies

• Leadership & People Management - The ability to guide and empower team members effectively; cultivate a positive work climate; delegate tasks skilfully and nurture team members' growth.
• Results Orientation - The ability to set ambitious targets for self and the team; drive progress toward objectives; initiate actions to achieve desired outcome.
• Creativity, Initiative & Innovation - The ability to nurture novel concepts and inventive approaches; take calculated risks to foster innovation; identify chances for process enhancements and expansion.
• Trustworthiness, Ethics & Governance - The ability to act with integrity and transparency; safeguard confidentiality; demonstrate ethical decision-making and interactions; to adhere to organizational regulations and ethical benchmarks, foster a culture of compliance and strong governance; ensure team members understand and adhere to protocols.
• Business Alignment - The ability to align team objectives and undertakings with broader organizational aims; make decisions contributing to the organization's strategic direction.

Terms of Appointment

Contract Duration:
Two-year fixed term appointment, with the possibility of renewal.

Role Location

Vienna, Austria.

How to Apply

To apply for this position, please ensure you click
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and
complete the Application Form.
It is essential that you
submit your CV in English
,
specifically in Microsoft Word format ), not exceeding 10MB.

Applications in other languages or formats will not be considered.

Rest assured, all information will be handled with the utmost confidentiality.