Finance Officer (Development Finance), P-3 Rome FOD

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 Front Office of the FOD (FFO) leads and oversees the work of three divisions: Financial Controller’s division (FCD), Financial Management services division (FMD) and Treasury Services division (TRE) and also liaises with other departmental front offices, and the Office of the President and Vice President and their divisions for corporate matters.

Position-specific:

The front office of the Financial Operations Department (FOD) comprises a specialized development finance team which supports AVP-FOD in (i) aligning IFAD’s operational and financial planning needs in the near and medium term, (ii) ensuring coherence and effectiveness of IFAD’s financial profile as a rated institution and (iii) playing a convergence role between the development, financial and strategic dimensions of IFAD’s operations, preserving the Fund’s reputation and sustainability. The team also coordinates with units responsible for resource mobilization, allocation of financial resources and ongoing programme delivery in Operations and Risk Management.

The incumbent works under the overall strategic, policy and management guidance of the Lead Development Finance Officer.

The incumbent is a member of the Development Finance Team established in the front office of the Associate Vice-President (AVP-FOD). The incumbent will take a proactive role in the day-to-day activities associated to the scope of the team. The incumbent is a seasoned professional reflecting an in-depth, broad understanding of applicable development best practices and methodologies, as well as IFAD’s financial regulations, rules, and transactional procedures in one or more financial, macroeconomic, and debt management areas.

Position-specific:

1. FINANCE BUSINESS PARTNER: The incumbent is a credible, trusted partner to the Department/Division/Unit where assigned. The incumbent supports the Fund’s development finance objectives 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 also contributes to the development, improvement and dissemination of technical policies and procedures as required. The incumbent’s focus is on building the knowledge base of the Fund’s governing structure, mandate, long-term business strategy, organizational dynamics, and culture.

• Monitoring and research of aspects related to macro-economic debt management at country level. This function will call

• for a continuous gathering of qualitative and quantitative data/inputs externally and internally to IFAD from other Departments and Divisions; and preparation of memos.

• Active Contribution and involvement in drafting policy papers and analysis on financial strategy matters.

• Ensure continuous intelligence on aspects related to Heavily Indebted Poor Country (HIPC) matters, or any other similar initiatives related to macro-debt, debt settlement, and/or debt rescheduling being discussed in international fora; including update of corporate Debt page and country economic snapshots for all IFAD’s borrowers.

• Provide detailed analytical inputs on the ongoing analysis of trends, challenges, risks and opportunities on matters related to IFAD’s global loan portfolio, including ongoing monitoring, and forward-looking assessment of borrower uptake within the Programme of Loans and Grants (POLG), i.e. IFAD’s Performance Based Allocation System (PBAS) and Borrowed Resource Access Mechanism (BRAM) and other vehicles

2. CORPORATE FINANCIAL POLICY AND STRATEGY: The incumbent is a seasoned professional with the capacity to interpret and apply a broad range of industry best practice, international and IFAD policies, rules and regulations as well as standards and techniques. The core challenge and opportunity is for IFAD to partner with MDBs, IFIs, development institutions and financial market institutions to overcome the constraints on capital mobilization, and to redesign governance, financial products, and incentive structures to achieve this goal. Activities performed by the incumbent may include:

• Collecting inputs as needed from other divisions, contribute to the building of Balance Sheet management and optimization analytics, performing quantitative and qualitative assessments on the following:

• Collaborate in the financial scenario production process, monitoring borrowing country income categories, preparing lending term breakdowns, and assess financial implications of allocations (capital consumption and liquidity management), and perform ongoing concessionality assessment of IFAD’s financial offer.

• Prepare /update IFAD’s lending terms and knowledge dissemination, and analysis on the determination of IFAD’s loan pricing methodology.

• Financial performance and reporting:

• Support data gathering and Monitor the FOD metrics of IFAD’s Corporate Risk Dashboard (CRD),

• Preparatory works and analytical inputs in building CFO Dashboard that can support decision making processes.

• Contribute to the monitoring of the reported financial risks and assess the likelihood and magnitude of the potential impact to IFAD’s financial and operational profile.

 

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 innovative financing approaches. The incumbent manages change through consultations with finance colleagues and outreach to internal and external stakeholders to build understanding 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, if applicable, general service/consultants supervised.

Incumbents at this level work independently and with authority and are accountable for the results of her/his work and of the staff they may supervise. Based on extensive knowledge of financial principles, concepts and systems accrued through her/his education and experience, the incumbent independently performs a wide range of functions within their role to ensure implementation of sound financial strategies and policies. The incumbent will seek supervisory guidance for the analysis of complex and/or innovative strategies, structures and scenarios for pre-emptive input, direction and advice, and to ensure consistency in the interpretation and application of regulations and policies at global level. 

The work typically requires the identification of tasks, time-management and organization of resources needed to achieve each task, interaction with internal personnel and external counterparts, delegation of activities to supervised staff, implementation of activities, decisions, strategies (modelling, definition/amendment of policies, other documentation), analysis and reporting of results through appropriate means of communication (e.g. verbal update, memorandum, presentation, policy paper). 

The incumbent’s responsibilities also include supporting the supervisor in key decision making.

The key performance indicators for the incumbent include:

• Independent and responsible performance of her/his tasks

• Demonstration of the highest technical quality and accuracy for the results of her/his work

• Contributing to the resolution of complex financial issues

• Planning of resources to achieve objectives in a timely manner

• Adopting a creative approach to problem solving

• Showing maturity and control in difficult, unforeseen and unusual situations

• Showing leadership when managing and coaching supervised staff

Position-specific:

Internally, the incumbent will report to the Lead Officer and will interact with several stakeholders within FOD and other departments for the completion of her/his work. The incumbent will be required to interact with other departments for the planning, design, and execution of financial instruments and structures, financial procedures and policy changes, and for financial data gathering and reporting. 

The incumbent could be required to participate in senior management meetings (e.g. financial risk management committee, Audit Committee or Executive Management Committee), and deliver presentations on matters related to their function. The main points of contact are with FOD Front Office, treasury, accounting, financial management, risk management, private sector unit, resource mobilization, and programme management staff mainly at IFAD headquarters as well as in country offices. 

External work relationships for the incumbent normally require exchange of information with a wide range of outside counterparts in the financial community and development finance, including UN agencies, DFIs, MDBs, rating agencies, investment banks, financial service providers and other institutions, individual professionals and vendors/suppliers. 

The incumbent may represent the Development Finance Unit and other organizational units at internal and external meetings, conferences and at other events as requested by their supervisor. 

Organizational Competencies:

Level 1:

•       Building relationships and partnerships – Builds and maintains effective working relationships

•       Communicating and negotiating – Communicates effectively; creates understanding between self and others

•       Demonstrating leadership – Personal leadership and attitude to change

•       Focusing on clients – Focuses on clients

•       Learning, sharing knowledge and innovating – Continuously seeks to learn, shares knowledge & innovates

•       Managing time, resources and information – Manages own time, information and resources effectively

•       Problem-solving and decision-making – Demonstrates sound problem-solving and decision-making ability

•       Strategic thinking and organizational development – Personal influence

•       Team working – Contributes effectively to the team

Education:

•       Level – Advanced university degree (Masters’ equivalent) from an accredited institution in a technically relevant area.

•          Areas – Finance, Business Administration or any other related fields or an equivalent professional certification.

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

Experience:

•          At least 5 years’ of progressively relevant professional experience in a similar position and/ or a finance and debt background in International Financial Institutions, Multilateral Development Banks, audit firm, or other relevant institution.

•          The professional experience should reflect a proven track-record in areas of sourcing, structuring and closing investments, particularly in the areas of loan origination and credit analysis, structuring of financial instruments, and/or, investment funds, or guarantee funds.

•          Proven experience in structuring, negotiating and implementing innovative financial instruments, products, programs and mechanisms related to leveraging resources for the public and private sectors,

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

•          Relevant country experience would be highly desirable.

•          Demonstrated experience in developing and managing partnerships with financial institutions, investors, philanthropic organizations and eligible family offices.

Languages:

•       English (4 – Excellent)

•       Desirable: French, Spanish, or Arabic 

Skills:

* Business acumen, private sector knowledge, Outstanding ability to synthesize and simplify complex technical information for a variety of (non-technical)    audience (Development) economics, Know-how relevant to specific role as economist, e.g. development economics, macro/micro-economic analysis, conducting of economic research and applied econometrics, etc.

* Risk management (e.g. reputational), Identification and assessment of potential liabilities and risks in IFAD’s     activities, particularly vis-à-vis third parties; ability to handle  risks via contingency and mitigation strategies  

* Development finance, Know-how in debt, lending terms, financial policies including pricing, concessionality and resource allocation

* Change Management, Role modelling, anticipation of key risks & conflicts and formulation of contingency plans/solutions, action-oriented;

* Time Management, Adherence to deadlines under time constraints and pressure (e.g. to deliver governing body documents on time); ability to coordinate and manage complex workflows and in-house and external teams;

* 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

* Client orientation, Strong critical thinking combined with communication skills to liaise between the business and technologies to understand business problems and needs, document requirements and identify solutions

* Written communication, Clear, succinct and convincing written communication in the language needed for specific role ; highly professional, balanced and diplomatic language   (e.g. for drafting of position papers, briefings, etc.)

* Verbal communication, Clear, succinct and convincing verbal communication; highly professional, balanced and diplomatic language

* Corporate approach, Ability to bring in corporate vision and priorities into one’s area of work (e.g. budgeting going beyond simple budgetary considerations, taking into account strategic priorities) 

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

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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.