Director, Financial Control

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The European Bank for Reconstruction and Development was founded in 1991 when communism was crumbling in Europe and ex-Soviet countries needed support to nurture a new private sector and democracy. Today we invest to help build market economies from central Europe to central Asia and the southern and eastern Mediterranean. We are now the largest single investor in our region. Owned by 69 countries and two intergovernmental institutions, we provide project financing for banks, industries and businesses. We also work with publicly owned companies to support privatisation, restructure state-owned firms and improve municipal services. Wherever we are active, we promote policies that bolster the business climate.

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Job description

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Purpose of Purpose of Job

The role holder is responsible for ensuring that the business activities of the EBRD (the Bank) and the donor funds under its management are accounted for in compliance with the applicable accounting rules and that their respective financial statements receive a positive unqualified opinion of external auditors. The role holder coordinates the Bank's audited sustainability reporting, and oversees the work of the Market Data and Product Analysis team (MDPA) and the production of daily financial reporting for the Bank's treasury activities.

The role acts as a senior point of contact for other departments around the Bank to offer advice and guidance on accounting issues. The role holder ensures that appropriate personnel, systems, processes and controls are in place to discharge the overall responsibilities of the Financial Control team. The role holder must have a strong grasp of the Bank's business activities to ensure that the accounting teams can provide the requisite management information to those businesses.

Background

The accounting teams within Finance - Strategy, Planning & Control (FSPC) are responsible for the preparation of periodic and annual financial reports on behalf of the Bank and over 200 Donor Funds which the Bank administrates. They maintain the financial records for each and provide timely and accurate information on financial performance and financial position. This information enables management to evaluate historic performance, assess the current position and formulate strategy.

This position oversees the accounting teams responsible for the Bank's financial reporting. The person represents the Bank's accounting function at the 'steering committee' level on cross-departmental task forces and deputises for the Managing Director, Head of Finance (MD Finance) on issues related to financial reporting. Key relationships are with senior management in IT, Risk Management, Operations and Service Management (OSM), Donor Partnerships and Treasury. Working with Treasury, in particular, requires a strong understanding of their business model, including funding strategy, local currency sourcing and liquidity management. The person is also routinely asked to review and contribute to various financial strategy and policy documents issued by FSPC.

The person is the key point of contact with the Bank's external auditor and leads discussions on the Bank's approach to complex and contentious aspects of accounting rules.

The role oversees the production of audited sustainability reporting at the Bank. In 2025 EBRD will publish its first audited ISSB report.

The role also oversees the Market Data and Product Analysis MDPA team, monitoring that financial contracts are captured accurately in the Bank's systems, ensuring that market data is available/accurate to value these and that valuations are disseminated and used appropriately.

Facts / Scale

• Responsible for the Bank's accounting teams, consisting of around 20 full-time qualified chartered accountants augmented with additional accountants, as required, during peak reporting periods.

• Further line management responsibilities for MDPA (3 staff) and Sustainability Reporting (1 staff).

• Five direct reports in total with occasional additions for project work.

• Responsible for the accounting for all transactions of the Bank and its donor funds. The Bank has a balance sheet size of circa €90 billion and an annual P&L of up to €2.5 billion.

Accountabilities & Responsibilities

• Leads the production and editing of the year-end financial statements for the Bank and donor funds, ensuring that all requisite information has been incorporated in order to ensure compliance with applicable accounting standards (IFRS in the case of the Bank financial statements).

• Leads the production and editing of the year-end ISSB report, ensuring that all requisite information has been incorporated in order to ensure compliance.

• Approves the Bank's monthly and quarterly management reports prior to their issuance to the Bank's senior management team.

• Holds the overall responsibility for design and operation of effective controls within the Financial Control team.

• Ensures that all new IFRS introduced by the IASB/ISSB are assessed by the relevant accounting team for their impact on the Bank's financial reporting. Reviews and approves all conclusions and recommendations.

• Manages the relationship with the external auditor and is the key point of contact for the audit process.

• Sets high-level objectives for the Bank's accounting teams and contributes to the formulation of strategic objectives for the FSPC department.

• Represents the Bank's accounting function at the "Chief Accountants Forum' among the MDB community.

• Represents the Bank's accounting function internally on key project steering committees and chairs committees where appropriate.

• Takes lead on resolving difficult and/or contentious issues with the external auditor relating to IFRS interpretation and implementation.

• Provides advice to senior management across the Bank on accounting matters and leads representative for FSPC in the Bank's new product processes.

• Acts as product owner for core accounting IT systems (SAP).

• Deputises for MD Finance on matters related to financial reporting, including at the meetings of the Bank's Executive Committee and the Board's Audit and Risk Committee.

• Directly accountable for the engagement and effective overall management of staff, including recruitment, compensation (as agreed with the MD Finance), performance management, coaching and development.

• Champions and role models the Bank's Workplace Behaviours, ensuring adherence within the team so that the highest standards of integrity and ethical conduct are exhibited at all times.

• Leads by example and promotes effective partnership to ensure productive co-operation, collaboration and working relationships between Financial Control, other departments in the Bank and external stakeholders.

• Drives and supports the Bank's transformation agenda with regard to automation, efficiencies and cross-functional collaboration.

Knowledge, Skills, Experience & Qualifications

• Educated to degree level or equivalent

• Chartered Accountant qualified or equivalent

• Fluent English language skills, both verbal and written

• Significant senior experience within Finance function of a financial institution, with strong understanding of banking businesses and principles of risk management and Treasury functions

• Articulate and confident communicator with ability to influence

• Experienced people manager with demonstrable skill in fostering team collaboration, cohesion, and talent development.

• Strong leadership qualities

• Experience in implementing and embedding change and commitment to continuous improvement.

• Strong analytical skills and ability to interpret financial information

• Ability to represent Bank's viewpoint on IFRS interpretation and lead related discussions with external auditor.

What is it like to work at the EBRD? / About EBRD

Our agile and innovative approach is what makes life at the EBRD a unique experience! You will be part of a pioneering and diverse international organisation, and use your talents to make a real difference to people's lives and help shape the future of the regions we invest in.

At EBRD, our Values – Inclusiveness, Innovation, Trust, and Responsibility – are at the heart of how we work. We bring these to life through our Workplace Behaviours: listening well and speaking up, collaborating smartly, acting decisively with full commitment, and simplifying to amplify our impact. These principles shape our culture and define our success. We seek individuals who not only share these values but are also committed to embedding them in their daily work, fostering a positive and high-performing environment.

The EBRD environment provides you with:

• Varied, stimulating and engaging work that gives you an opportunity to interact with a wide range of experts in the financial, political, public and private sectors across the regions we invest in.
• A working culture that embraces inclusion and celebrates diversity. Our workforce reflects a broad range of backgrounds, perspectives, and experiences, bringing fresh ideas, energy, and innovation and enhancing our ability to serve our clients, shareholders, and counterparties effectively.
• A hybrid workplace that offers flexibility to teams and individuals; that is based on trust, flexibility and connectedness.
• An environment that places sustainability, equality and digital transformation at the heart of what we do.
• A workplace that prioritises employee wellbeing and provides a comprehensive suite of competitive benefits.

Diversity is one of the Bank's core values which are at the heart of everything it does. As such, the EBRD seeks to ensure that everyone is treated with respect and given equal opportunities and works in an inclusive environment. The EBRD encourages all qualified candidates who are nationals of the EBRD member countries to apply regardless of their racial, ethnic, religious and cultural background, gender, gender identity, sexual orientation, age, socio-economic background or disability.

Please note, that due to the high volume of applications received, we regret to inform you that we are unable to provide detailed feedback to candidates who have not been shortlisted (for further consideration).

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View details

Working hours (%): 80-100% / 100%

Type of contract: Staff (Permanent and Fixed Term)

Macro-area: Multiple

Level of experience: Senior Professional, more than 5 years

Area of work : Banking and Finance

Type of organisation: Multilateral Organisations