Finance Specialist (FPM) (P-3) Finance Specialist (FPM) (P-3) …

IFAD
in Rome
Contract, Full time
Last application, 21 Oct 20
P-3 salary as per ICSC salary scale & Rome post adjustment, & ICSC benefits and entitlements
IFAD
in Rome
Contract, Full time
Last application, 21 Oct 20
P-3 salary as per ICSC salary scale & Rome post adjustment, & ICSC benefits and entitlements
The Finance Specialist (FPM) is a treasury systems and data base manager expert, who, through simulations and enhancement of financial models, build simulations on a range of scenarios reflecting IFAD's current and future resources and financial positions, analyse results and identify key inputs for information on resource mobilization priorities/ opportunities, and the Fund’s financial sustainability.

Organizational context
The International Fund for Agricultural Development (IFAD) is an International Financial Institution (IFI) and a specialized United Nations agency dedicated to eradicating rural poverty and hunger. It does so by investing in rural people. IFAD finances programmes and projects that increase agricultural productivity and raise rural incomes, and  advocates at the local, national and international level for policies that contribute to rural transformation.

The Financial Operations Department (FOD) is tasked with managing IFAD’s financial resources proactively and making them available as needed for the Fund’s programme of work and budget.

As one of the components of FOD, the Treasury Services Division (TRE) mandate is to safeguard IFAD’s resources through management of investment and cash operations with the aim to preserve capital and maximize  returns within the provisions of IFAD’s financial policies; formulate and implement investment and cash operations strategies and policies; ensure prompt availability of cash for IFAD operations through prudent liquidity management; oversee the integrity of the Fund’s daily investment and cash operations in line with corporate risk management standards and manage the investments and cash of extra budgetary funds, hosted entities and trust funds.

Within the Division, the Financial Planning Modelling and Middle-Office (FPM) team formulates strategies and policies for the optimization of the use of internal and external resources to finance IFAD’s operations, monitor the Fund’s liquid assets, the level of overall financial resources against liquidity requirements, implement and monitor ALM policy and provide investment portfolio analytics.  The Finance Specialist will be committed to the delivery of assigned objectives and activities and keep abreast of related industry developments and skills required to respond to the divisional work plan and results.


Post's organizational accountability
Finance Specialists at this level are seasoned professionals reflecting an in-depth, broad understanding of applicable regulations, standards and methods as well as IFAD’s financial regulations, rules and transactional procedures in one or more treasury functions including investment management, liquidity management, financial planning, monitoring and reporting. The accountabilities/key results include:

Finance Business Partner
Financial Management
Agent of Change
Finance Specialists work under the overall strategic, policy and management guidance of the Director and Treasurer and the direct supervision of a Senior Treasury Officer or Senior Finance Officer. When tasked with supervision, they are typically supervisors of general service (GS) staff.


Key results expected / Major functional activities
1. FINANCE BUSINESS PARTNER: The Finance Specialist is a credible, trusted partner to the client offices served and the Department/Division/Unit where assigned. S/He supports the Fund’s finance strategy and plans as well as models a commitment to financial integrity by acting as a responsive and constructive service provider with a focus on results. The Specialist provides seasoned verbal and written advice and guidance to supervisors and staff on finance regulations, rules and procedures, facilitating a mutual understanding of roles and fiduciary accountabilities in direct support of integrity in the management of the Fund’s financial resources.

2. FINANCIAL MANAGEMENT: At this level the Finance Specialist is a seasoned professional with the capacity to interpret and apply a broad range of international and IFAD financial policies, rules and regulations as well as standards and techniques. Activities performed by Finance Specialists at this level may include (a) maintaining the financial procedures relating to the assigned operation; (b) preparing information for internal financial reporting and for IFAD’s Annual Financial Statements, as applicable; and (c) preparing timely, substantive replies to internal and external audit observations concerning the assigned financial operation. Representative occupational activities include:

Finance Specialists (FPM) are responsible for  the development of financial policies and frameworks, financial models, treasury systems and middle-office. Through simulations and enhancement of financial models, they build simulations on a range of scenarios reflecting IFAD's current and future resources and financial positions, analyse results and identify key inputs for information on resource mobilization priorities/ opportunities, and the Fund’s financial sustainability. Finance Specialists in FPM administer Treasury systems, provide investment portfolio analytics and reporting liaising with external counterparts and internally with IM unit. They implement ALM methodologies. They produce reporting periodically on all output of the functions above for TRE and FOD management, Risk Management and internal committees.
Finance Specialists (IM) are responsible for the operational management of all IFAD's invested assets and the assets of other funds under IFAD management. Their areas of responsibility include setting and updating the IPS, implement asset allocation strategies, develop trade ideas, manage the investment process from pre-trade compliance to ticketing and settlement. The Finance Specialist is committed to the delivery of assigned objectives and activities and keep abreast of related industry developments and skills required to respond to the divisional work plan and results.
 

3. AGENT OF CHANGE: The Finance Specialist understands and applies the principles of change management and proactively serves as a role model for transformation and capacity for acceptance of change. S/He uses a seasoned knowledge of results based management and budgeting, enterprise resource planning (ERP) and other information technology to develop, analyze and promote acceptance of new methods of work and automated work flows. At this level the Specialist manages change through consultations with finance colleagues and outreach to client offices to build understanding of and to ensure open and regular communications pertaining to current and planned changes in the Fund’s financial standards, regulations and rules.

4. MANAGERIAL FUNCTIONS: The Finance Specialist is accountable for integrity, transparency, and equity in the personal use of assigned IFAD resources, including equipment, supplies and, as applicable, staff supervised.


Impact of Key results / Key performance indicators
Specialists at this level are accountable for in-depth analysis of a variety of financial reports that reflect transactions where many different consecutive stages of operations are involved; problems involve interrelationships and interactions within the financial structure and his/her role is to ensure that the Organization's financial business conforms to regulations. Based on a thorough knowledge of finance principles, concepts and systems, the Finance Specialist independently performs the full range of work for a complete, homogenous financial operation or components of financial operations in support of a geographic or other organizational area. The supervisor may be consulted in the analysis of complex and/or precedent setting cases to ensure consistency in the interpretation and application of regulations and rules and to document such decisions. The work typically requires the identification of the need for changes to finance policies, as well as the authoritative interpretation and application of finance policies, rules and regulations to a broad range of complex casework.

The key performance indicators for Finance Specialists at this level include accurate performance of assigned finance operations, technical quality in terms of both substantive depth and adaptive relevance to client needs and customer service approach to problem resolution.


Representation / Work relationships
Finance Specialists may represent the unit to which assigned on related matters at internal and external meetings and conferences as requested by the supervisor.

Internally Finance Specialists are required to explain, clarify and implement financial plans and decisions taken or procedural changes planned to ensure accuracy, completeness and integrity of financial data and reporting. Contacts are with finance, budget, loans and grants, treasury, audit and programme management staff in country offices and Headquarters. External work relationships for Specialists at this level normally require an exchange of information with a range of outside sources including staff from governments, specialized agencies acting as CO host agencies, Borrowers and Cooperating institutions, external investment managers and vendors/suppliers. They are also delegated authority to make commitments on routine aspects of the assignment.


Competencies
Organizational

  • Strategic thinking and organizational development: Personal influence (Level 1)
  • Demonstrating Leadership: Personal leadership and attitude to change (Level 1)
  • Learning, sharing knowledge and innovating: Continuously seeks to learn, shares knowledge and innovates (Level 1)
  • Focusing on clients: Focuses on clients (Level 1)
  • Problem solving and decision making: Demonstrates sound problem solving and decision making ability (Level 1)
  • Managing time, resources and information: Manages own time, information and resources effectively (Level 1)
  • Team Work: Contributes effectively to the team (Level 1)
  • Communicating and negotiating: Communicates effectively: creates understanding between self and others (Level 1)
  • Building relationships and partnerships: Builds and maintains effective working relationships (Level 1)
  • Managing performance and developing staff: Manages staff and teams effectively (Level 1)


Technical

  • Excellent working knowledge of processing treasury transactions, including investment portfolio management, management of resources and liquidity planning, financial projections through modelling and related reporting.
  • Very good technical and working knowledge of treasury systems, including trading platforms, relational database architectures and logic.
  • Expert knowledge of MS Excel
  • Good working knowledge of Bloomberg platform, or a similar platform or tool (e.g. Eikon), and its connectivity with database and MS Excel


Functional

  • In-depth knowledge of the principles and concepts of financial operations including sound understanding of project financial management.
  • Capacity to identify and analyze systemic issues, formulate options and make conclusions and recommendations to resolve same.
  • Analytical and organizational skills.
  • Demonstrated ability to communicate effectively in a diverse organization tailoring language, tone, style and format to match audience; ability to present corrective feedback in a considered and tactful manner to promote acceptance.
  • Ability to empathize with client managers, supervisors and staff while maintaining the integrity of financial resources, implementing internal controls and ensuring consistent and accountable application of promulgated financial regulations and rules.

Minimum recruitment qualifications
Education:

Advanced university degree from an accredited institution in finance, financial engineering, quantitative methods, or other job related field.
Experience:

At least five (5) years of progressively responsible professional experience in  middle-office in treasury or finance departments at financial institutions, multi-lateral development organizations or national development organizations providing support on a global scope. In the absence of an advanced degree, at least four (4) years of progressively responsible job related experience is required in addition.
Language requirements:

Excellent written and verbal communication skills in English. Working knowledge of another official language (Arabic, French, or Spanish) is desirable.

Other information
Applicants should note that IFAD staff members are international civil servants subject to the authority of the President of IFAD, and they may be assigned by him/her to any of the activities of IFAD, including field assignments and/or rotation within IFAD.

In the interest of making most cost effective use of funds and resources, we are only able to respond to applicants who are short-listed for interview. Candidates who do not receive any feedback within three months should consider their application unsuccessful

Candidates may be required to take a written test and to deliver a presentation as well as participate in interviews.

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