Head of Financial Instruments Accounting Group (FIA)

Established in 1959, The Inter-American Development Bank is the largest and leading source of financing for development for Latin America and the Caribbean. The Finance Department s (FIN) is responsible for the mobilization and administration of the Bank s financial resources, both the assets and liabilities, and for the management of the Bank s liquidity, accounting and financial records, and for the relations with financial markets and intermediaries. FIN is divided in the Treasury and the Accounting Division. The Accounting Division is responsible forpreparing all financial statements and other related internal and external financial reports for the Bank's main funds and other funds under its administration, establishing accounting policies and procedures, managing all accounting operations, and monitoring and ensuring that the accounting and financial reporting is in compliance with US GAAP or other special basis of accounting, as applicable. The Financial Instruments Accounting Group executes processes related to the Loans, Grants, Investments, Borrowing, Derivatives and Equity accounting. The Finance Department Accounting Division is looking for a dedicated, energetic and team-oriented leader for the position of Head of Financial Instruments, Derivatives and Equity Accounting Group. As a Member of the FIN Leadership Team, the incumbent will be responsible and accountable to: Provide leadership and direction to the Group in line with the business objectives of the Accounting Division and the Finance Department. Develop annual business plans for the Group, including recommendations on resource allocation and budgetary requirements for annual planning purposes. Monitor results and work with Accounting Division Management to improve resource planning and allocation to achieve progressive efficiency gains, while addressing current and emerging business needs. Reallocate or reorganize resources to improve performance. Embrace and actively promote FIN Core Values, namely: Client Centric; Adaptive; upholding Highest Quality Standards; Engaged and Committed to the Bank s mission; Creative and problem solver; Team Player; Respectful, principled and inclusive. Oversee timely and effectively implementation of all audit and non-audit recommendations. Represent the group, seeking to disseminate and communicate effectively the group s results internally and externally. As Group Head, the Incumbent will be responsible and accountable to: Lead the accounting operations of the Bank subsidiary ledgers related to Loans, Grants, Investments, Borrowing and derivatives. Lead the month-end closing activities of the sub ledgers of the group including transaction processing, accruals generation, revaluation adjustments and their corresponding reconciliations and controls to support management assertion on the effectiveness and efficiency of internal controls over financial reporting and compliance with U.S. GAAP. Prepare analysis, reports and financial disclosures related to the areas of responsibility in accordance with established accounting standards, controls and procedures. Oversee the review, monitoring, and validation of the valuation reporting of the investment, funding, derivatives and loan portfolios, as well as the financial models developed by the Treasury Division and validated by the Risk Management Office. Oversee the assessment of the accounting implications of new Bank investments, borrowing and derivative financial instruments, lending and other financing products, as well as new transactions in the accounting and reporting for such activities. Support the External Auditors in their annual audits of the areas of responsibility. Prepare, publish and maintain reports on sovereign and non-sovereign lending operations, grants, guarantees, capital subscriptions and trust fund contributions in the Bank s intra-, extra and internet platforms. Lead and/or participate in the design, implementation, maintenance of automated systems and reporting platforms that support the activities of the group. Qualifications Education Master s degree (or the equivalent) in Accounting, Finance, Economics or related field. CPA or CFA is desired. Experience Minimum of ten (10) years of relevant experience acquired within a multinational environment. Experience in managing teams in both private and public sectors, including international financial institutions will be valued. Expertise in accounting for financial institutions operations (including loans, investments, borrowings and derivatives), establishing and evaluating internal controls, analyzing accounting pronouncements, implementing, controlling and maintaining large-scale financial/accounting software as the lead user, supporting external auditors and reporting under U.S. Generally Accepted Accounting Principal (U.S. GAAP). Languages Proficiency in English and second language of the Bank (Spanish, Portuguese, and/or French) is required. Systems Demonstrated experience working with SAP (Financial module), Loan Management Systems for example Cassiopae, Treasury management systems (Misys is a plus) and the Microsoft Office suite is highly desirable. Incumbent will be responsible for developing and maintaining models using both Access databases and Excel spreadsheets. Core competencies Innovation and Creativity: Develops imaginative ideas and solutions through creativity, experimentation and critical thinking. Communication and Influence: Communicates effectively and leverages relationships and strategies to influence others. Client Focus: Understands client needs and provides services that meet their expectations for quality and performance; meets the Bank s expectations for ethical behavior. Developing People and Teams to Deliver Results: Builds talent and capability inside the organization through coaching, mentoring, training, developmental assignments and knowledge sharing. Promoting Diversity and Inclusion: Improve and ensure a diverse environment and actively work to build, coach and empower teams with diverse background (e.g. gender, ethnic origin, disability, sexual orientation, background, perspective). Technical Competencies Quantitative Analysis: Leads and advises on the development and implementation of analytical tools and models for strengthening the IDB s capability for quantitative analysis. Acts as a subject matter expert in the functional domain. Accounting: Leads the implementation of new accounting standards, identifying and communicating relevant requirements. Anticipates changes in accounting standards, assessing the value and potential impact to the IDB and recommending appropriate courses of action to ensure compliance and mitigate risk. Anticipates the impact of changes in policies, processes, and systems in the processing of accounting, recommending needed improvements/adaptations. Financial Reporting: Acts as expert on compliance and disclosure issues and ensures financial reporting is performed in accordance with accounting standards and practices (i.e. GAAP, US Securities & Exchange Commission, other Multilateral Development Institutions, etc.). Internal Control & Operational Risk: Leads the evaluation of internal controls and the implementation of new processes and systems, ensuring the continuous effectiveness of the internal control framework. Promotes risk and control awareness and strengthening of controls in area of responsibility. Audit Expertise & Coordination: Represents functional area in meetings with auditors discussing audit planning, identification of risk areas, and progress on issues discovered. Anticipates changes in audit standards and requirements, evaluating the impact on the IDB's internal and external audit processes. The IDB offers a competitive benefits and compensation package. Given the sensitivity of this position and per our HR guidelines, the selected candidate will be subject to a background check. The IDB is committed to diversity and inclusion and to providing equal opportunities in employment. We embrace diversity on the basis of gender, age, education, national origin, ethnic origin, race, disability, sexual orientation, religion, and HIV/AIDs status. We encourage women, Afro-descendants and persons of indigenous origins to apply. The Finance Department Accounting Division is looking for a dedicated, energetic and team-oriented leader for the position of Head of Financial Instruments, Derivatives and Equity Accounting Group.