Finance Specialist (Environmental Finance) P-3 Rome, FCD

The International Fund for Agricultural Development (IFAD) is an international financial institution 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 a dynamic financial, strategic and responsive business partner and service provider fully supporting IFAD in developing its financial strategy and managing its financial, investments and material resources. FOD ensures that these resources are efficiently, economically and effectively used to achieve IFAD’s objectives in the long-term and deliver on its development commitments. The Financial Operations Department is composed of the following three divisions: (a) Financial Controller’s Division (FCD), (b) Financial Management Services Division (FMD) and (c) Treasury Services Division (TRE).

The Financial Controller’s Division (FCD) plays a key role in supporting stakeholder confidence and protect IFAD’s clean external audit opinion on IFAD finances, ensuring sound financial practices and internal control at IFAD, and providing innovative finance solutions to solve problems and improve the decision-making processes. FCD is also responsible for the integrity, transparency, and control of the management of IFAD’s resources. 

The position works under the overall strategic, policy and management guidance of the Director and Controller, FCD and the direct supervision of the Chief Financial Reporting and Corporate Finance.  

The incumbent is a seasoned professional reflecting a broad understanding of applicable regulations, standards, and methods as well as IFAD’s financial regulations, rules, and transactional procedures in one or more financial occupations including accounting, budget, loans and grants, public financial management and/or treasury. The incumbent plays a key role in the fulfilment of FCD`s financial resources management and reporting functions.

The primary responsibility of this role is centered around the meticulous preparation, planning, and execution of the IFRS S1 and S2 standards, which constitutes 90% of the job’s focus. This includes overseeing the integration of these standards into our financial systems, ensuring compliance, and facilitating organization-wide adaptation through training and support.

Position specifics: The incumbent must possess profound expertise in IFRS S1 and S2 standards, demonstrating a capability to navigate and implement these frameworks within the unique context of IFAD. This role demands a proactive approach to stay abreast of evolving IFRS guidelines and their applicability to our operations, ensuring both compliance and operational excellence.

The incumbent is a seasoned professional with an in-depth understanding of relevant financial management and accounting principles standards (IFRS), and methods applicable to operations financed by financial institutions/ international aid organizations.  . The scope of the role of the Finance Officer (Environmental Finance) The incumbent should have an in-depth knowledge of ESG (environmental social Governance) Reporting IFRS Sustainability Standards The incumbent will play a pivotal role to establish and maintain an internal control framework to ensure adequate ESG reporting in compliance to International Sustainability Standards requirements. . The incumbent plays a key role in the delivery of supplementary funds activities, statutory financial statements (IFAD, GEF GCF, etc) per IFRS standards, Donor Reports and financial services for Supplementary Funds and hosted entities, EC Verifications support. The scope of the work also includes coordination with internal and external stakeholders for financial accounting and reporting activities, being a key stakeholder towards external and internal auditors and the various multilateral climate finance donors.  n of the GCF Trust.

1.FINANCE BUSINESS PARTNER: The incumbent is a credible, trusted partner to the Department/Division/Unit where assigned. The incumbent 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 incumbent provides seasoned verbal and written advice and guidance to supervisors and staff on finance regulations, environmental social governance reporting, 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. FINANCE MANAGEMENT: The incumbent 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, and with knowledge of pillars of financial market drivers and financial risks. 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, and to IFAD governing bodies as applicable; and (c) preparing timely, substantive replies to internal and external audit observations concerning the assigned financial operation.

3. AGENT OF CHANGE: The incumbent understands and applies the principles of change management and proactively serves as a role model for transformation and capacity for acceptance of change. The incumbent uses a seasoned knowledge of results based management, enterprise resource planning (ERP) and other information technology to develop, analyze and promote acceptance of new methods of work and automated work flows. The incumbent manages change through consultations with finance colleagues and outreach to internal and external stakeholders 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 incumbent is accountable for integrity, transparency, and equity in the personal use of assigned IFAD resources, including equipment, supplies and, as applicable, staff or consultants supervised.

Position specifics:

The Finance Specialist (Environmental Finance) 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 including operationalisation of transactions in accordance to IFRS as well as the capacity to deliver environmental social reporting governance (ESG) reporting. Activities performed by Finance Officer (Environmental Finance) include:

• Support the establishment and subsequently maintaining of an effective internal control framework to ensure adequate ESG reporting in accordance to IFRS International Sustainability Standards (ISS) requirements.
• Preparing financial reports including IFRS/ISS- compliant financial statements.
• Delivery of timely and accurate financial information of the supplementary funds and hosted entities to internal and external stakeholders.
• Maintaining and updating, when necessary, the financial procedures relating to the assigned operations.
• Drafting responses for management on queries raised and views expressed by IFAD’s Governing Bodies and other relevant shareholders/partners.
•  Preparing timely, substantive replies to internal and external audit observations concerning the assigned financial operations.
• contributing to the agreement negotiation with supplementary funds donors/ recipients ensuring that legal documents reflect sound financial management arrangements and applicable policies and procedures.
• Playing a key role in financial reporting, expenditure verifications, and other donor-related financial assessments.

Finance Specialists are accountable for authoritative advice and guidance in regard to the Fund’s financial policies, regulations and practices and authoritative interpretation to resolve difficult and unusual cases. They make recommendations to senior management on questions of financial policy, including those that may be the subject of inter-organizational consultations. Finance Specialist are also accountable for leading and ensuring the accuracy of a complete, complex financial operation identified by the variety and number of funding sources, diversity of currencies, and the requirement for producing various reports to legislative bodies, member governments, and others interested in the activities of the Fund. The incumbent achieves finance programme goals and objectives through innovative program design or redesign. The work requires the development of new and/or modifications of existing policies, practices and techniques as well as the review of Finance Officer and Analyst work performed at lower levels, taking corrective and adaptive actions. The incumbent provides technical advice to stakeholders in countries, leads technical discussions and capacity building in countries assigned. The KPIs include efficient performance of assigned finance operations and other responsibilities, technical quality in terms of both substantive depth and adaptive relevance to client needs and customer service approach to problem resolution and team leading characteristics, as well as maintaining data integrity on assigned portfolios.

Position specific: 

Indicators related to a smooth, effective, accurate and timely approval of disbursements of loans and grants, payroll payments, timely within KPIs, and client friendly communications. 

Internally Finance Specialists are authoritative technical advisers to the Fund’s managers, other budget holders and staff in their area of assignment and advocate for accountability and integrity in the allocation and management of the Fund’s financial resources. The incumbent manages professionals as relevant and leads to improve relevant policies and procedures. Contacts extend throughout the organization and may include Country Office management as needed, internal auditors and evaluation Officers. Externally work relationships require collaboration, coordination and partnership building with local counterparts and external stakeholders to ensure the effective implementation of financial rules and procedures, with particular reference to the use of donor funding through contacts with Borrowers and Contributing institutions. The incumbent will also represent IFAD in global technical fora and be in direct contact with external auditors and counterparts in other IFI and UN organizations.

Organizational Competencies:

Level 1:

• Strategic thinking and organizational development: Personal influence.

• Demonstrating Leadership: Personal leadership and attitude to change.

• Learning, sharing knowledge and innovating: Continuously seeks to learn, shares knowledge and innovates.

• Focusing on clients: Focuses on clients.

• Problem solving and decision making: Demonstrates sound problem solving and decision-making ability.

• Managing time, resources and information: Manages own time, information and resources effectively.

• Team Work: Contributes effectively to the team.

• Communicating and negotiating: Communicates effectively: creates understanding between self and others.

• Building relationships and partnerships: Builds and maintains effective working relationships.

• Managing performance and developing staff: Manages staff and teams effectively.

Education:

• Level – Advanced university degree. The advanced university degree may be substituted by a first university degree (Bachelor or equivalent) in the above-mentioned subjects plus at least four additional years of relevant professional experience, over and above the minimum number of years of experience outlined below. 

• Areas – Accounting, Business Administration or Finance

• Degree must be an accredited institution listed on https://www.whed.net/home.php .

Experience:

• At least five (5) years of progressively responsible professional experience

• Three (3) years preferably in the international financial institution, or another multi-cultural organization or a national organization providing support on a global scope.

Position-specific experience: 

• Experience in financial reporting to multilateral donors and knowledge of PeopleSoft –Oracle BI systems is considered an asset.

• Professional training and expertise on ESG reporting would be considered as an asset.

Certifications:

• Professional qualification in CPA, Chartered Accountant, CIPFA designation or equivalent is mandatory.

Languages:

• Required English (4 – Excellent) 

• Desirable: French, Spanish, or Arabic (3 – Good) 

Skills:

Job role specific

• Problem solving, Strong systemic and structured thinking, ability to identify and dissect problems into components and formulate a comprehensive set of creative viable and sustainable solutions and strategies.

• Analytical skills, Outstanding ability to analyse and synthesize qualitative and/or quantitative information from a variety of sources and filter out key insights and recommendations.

• Interpersonal skills, Ability to deal patiently and tactfully with others (e.g., visitors, clients, callers, etc.), including senior individuals (e.g., high-level meeting participants).

• Communication skills: Ability to explain complex matters in a palatable and comprehendible way for all ranges of audience.

• 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.

• Procedure adherence & interpretation, Ability to strictly adhere to established, formal guidelines, including in new situations and to interpret established, formal guidelines to address and recommend solutions or further actions required.

• Risk management. Know-how in identifying and assessing of potential legal, reputational, ethical risks and liabilities in relation to the Fund’s activities; contributing strongly to the division as second line of defence function; demonstrating ability to manage these risks by advising senior management on contingency and mitigation strategies.

Position specific

• In-depth knowledge of the principles and concepts of financial operations including sound understanding of project financial management and IFRS.

• Climate Finance and Reporting: In-depth knowledge of the principles and concepts of environmental social governance reporting  IFRS/ISS. 

• Financial reporting & accounting,  Know-how in financial reporting, statutory and other reporting auditing rules and procedures applicable to Organization and IFIs;

• Capital market instruments: Knowledge of capital markets instruments (fixed income, derivatives, loans), risk and performance metrics and quantitative tools of fixed income valuation (cash flow, present value, interest rate risk, duration, etc.)

• Ability to review and benchmark current practices against industry (UN/DFIs) best practices and enhance processes are appropriate.

•  Excellent knowledge of PeopleSoft ERP and other information technology systems and tools. Exposure to accounting software.

Applicants should note that IFAD staff members are international civil servants subject to the authority of the President of IFAD. In accordance with IFAD’s Human Resources Policy, the President can decide to assign them to any of the activities of the Fund. All International Professional staff members are required to be geographically mobile and positions in the professional category are subject to changes in location at any time in line with strategic priorities and reform initiatives in IFAD.

IFAD is an Equal Opportunity Employer and does not discriminate on the basis of ethnic, social or political background, colour, nationality, religion, age, gender, disability, marital status, family size or sexual orientation in line with its Diversity, Equity and Inclusion (DEI) Strategy and the Policy to prevent and respond to sexual harassment, sexual exploitation and abuse.https://webapps.ifad.org/members/eb/134/docs/EB-2021-134-R-9.pdf ; https://www.ifad.org/documents/38711624/42415556/SEA_e_web.pdf/85275c4d-8e3f-4df0-9ed8-cebaacfab128?t=1611326846000

In accordance with IFAD’s provisions, all new staff members will normally be placed at the first step in the grade level for which they have been selected. For information on IFAD’s remuneration package, please visit IFAD’s compensation and benefits page on our website. Applicants are invited to use the ICSC compensation calculator to estimate the salary and benefit entitlements.  See here. 

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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.