Field Disbursement Officer at Islamic Development Bank (IDB)

The Islamic Development Bank (IDB) 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 Title: Field Disbursement Officer - Regional Hub of AbujaRef No: IDB2062 Location: AbujaBusiness Unit: Finance ComplexDivision: Dues & DisbursementsDepartment: Financial Control DepartmentJob PurposeReview and verify operational disbursement requests and documentation in regional hub in coordination with project management unit or equivalent agency.Determine whether the disbursement request should be approved, reduced or rejected in accordance with Bank’s policies and procedures.Allocate disbursement commitments to relevant contract and ensure timely completion of the disbursement. Maintain accurate and complete records relating to regional hub’s project accounting activities, coordinate with respective parties for resolution of disbursement related problems.Provide support to negotiations, mission preparation, and disbursement workshops.Key Accountabilities Dues and Disbursement Management:Process disbursement requests from project management unit or equivalent 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 proceduresLiaise with regional hub management and executing agencies and borrowers, in the resolution of disbursement related problemsDraft clear and concise correspondence to project management unit or operational staff regarding disbursement related issuesMonitor utilization of Special Accounts, ensuring that the funds are properly accounted for and used in accordance with Bank proceduresParticipate in project missions to verify use of project finances and resolve disbursement issuesParticipate in technical discussions and new project negotiations to ensure that disbursement arrangements are compliant with Bank’s disbursement policiesPrepare periodic reports on disbursement activities and disbursement projections for the regional hub for managementMaintain 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 hubParticipate 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 hubFinancial Analysis:Perform specific analyses of financial or operating data and submit recommendations for consideration of managementAnalyze the current projects status and identify any problem areas that warrant attention of the concerned departmentsParticipate in standard and ad hoc analyses to meet variety of management objectivesPolicies, Processes & Procedures:Participate in drafting policies and procedures as per management instructionsProvide guidance on interpretation of IDB policies and procedures, and regulations applicable to operations financing in regional hubAnalyze and identify gaps and suggest improvements to policies or procedures for more effective operationsReporting & Communication:Prepare ad-hoc reports as and when required by management

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