Senior Finance Specialist (Lead Officer Disbursements) – P4  

Organizational Setting

* This is a re-advertisement of JO 21893 at P-4 level. Candidates who had already applied to JO 21893 do not need to re-apply.

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 IFAD Financial Controller’s Division (FCD) is a specialized finance Division providing solutions to IFAD in the field, in headquarters and to its partners globally. FCD supports development results through its Controllership function which improves the stewardship of resources globally. FCD’s Disbursement function ensures approval of over $1 billion of resources annually. FCD’s Financial Crime function protects IFAD and its data from sanctions, money laundering, terrorism financing, fraud and related risks. FCD’s Financial Reporting and Corporate Finance function ensures clean audit opinions per IFRS, reporting of borrowings, debt servicing, donor and statutory reporting to protect IFAD’s credit rating. FCD is a trailblazer of new technologies 

The position is located in the Disbursement function and the incumbent works under the direct supervision of Director and Controller, FCD.

Job Role

The Senior Finance Specialists at this level manage a complete financial operation, encompassing a wide variety of funding sources, a large volume of transactions and extensive dispersed activities. They are typically accountable for unit work plan establishment and supervision of a team of Finance Specialists, Associates and/or Assistants.

Position specific:

The Senior Finance Specialist leads the disbursement unit (loans and grants, payroll, payments)  to deliver excellent client service, providing efficient and effective value proposition for both internal and external stakeholders. S/he will also lead the development of innovative approaches to improve institutional financial processes by providing authoritative advice on best practices.  S/He will promote continuous improvement in business processes and seek to ensure that the underlying systems are well aligned and maximise operational efficienncies. S/He will have a well developed sense of financial systems, as well as experience in the full life cycle of project management, to promote improved system integriations and maximise the opportunities for successful innovation initiatives.

Responsible for robust relationships at the field and HQ level.

Key Functions and Results

1. FINANCE PRACTICE LEADER: The incumbent is accountable for technical leadership in her/his operational area at the corporate level and/or responsibility for leadership of other Professional and/or General Service staff ensuring compliance with financial principles and concepts, policies, regulations and rules as well as for soundness of judgement and conclusions. The incumbent directly supervises a finance unit with responsibility for work planning and organization, supervision of the work of the unit/section assigned and establishing and monitoring performance management indicators of success. The Senior Specialist develops, implements and monitors the interpretation and application of new financial policies, regulations, rules, practices, procedures and systems to meet the evolving needs of the Fund. Her/his authoritative knowledge of the Fund’s governing structure, mandate, long-term business strategy, financial rules and regulations as well as of International Financial Reporting Standards (IFRS). The Senior Specialist ensures accuracy and enhances accountability in the preparation of IFAD’s financial statements, policies and procedures.

2. FINANCE BUSINESS PARTNER: The incumbent is a credible, trusted partner to the client offices served and the Department/Division/Unit where assigned. The incumbent contributes directly to the development of the Fund’s financial 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. In all interactions the incumbent promotes the concept of results based management and accountability for the financial resources entrusted to IFAD.

3. FINANCIAL MANAGEMENT: The incumbent is a team leader with the capacity to develop as well as authoritatively interpret and apply a broad range of international and IFAD financial policies, rules and regulations as well as systems, standards and techniques. Activities performed by all finance occupations include (a) contributing to the development and continuous evolution of strategic frameworks; (b) adapting rules and establishing financial procedures relating to the assigned operation; (c) creating effective monitoring systems including operational oversight to ensure effective management of assigned operations, including ensuring due regard to segregation of financial tasks as required; (d) financial reporting and preparing responses for management on queries raised and views expressed by IFAD’s Governing Council and other relevant shareholders/partners; (e) reviewing audit reports and providing guidance lo IFAD staff and projects on sound financial management practices; (f) leading the preparation of timely, substantive replies to internal and external audit observations concerning the assigned financial operation; and (g) analysing IFAD experience with other IFIs and development organizations to adopt best financial management practices in administering IFAD’s financial resources.

4. 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 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 inter-organizational and internal 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.

5. MANAGERIAL FUNCTIONS: The incumbent is typically a team leader with accountability for integrity, transparency, and equity in the management of IFAD resources. This may include: (a) People Management through work plan development, recruitment, performance and career management of P and GS staff as well as learning management establishing learning plans and ensuring staff supervised meet their development needs while meeting the needs of IFAD; (b) Resource Management by providing strategic and data inputs into the divisional budget preparation exercises; (c) Knowledge and Content Management by ensuring (i) knowledge content within functional area is continuously updated and available to colleagues and clients (ii) best practices are continuously identified, documented and distributed and (iii) appropriate and up-to-date information and learning tools are available to the Fund’s managers, supervisors and staff; and Information Technology Management through leveraging ERP functionality for improved business results, simplification of transaction and reporting processes and improved client services.

Position specific: 

6. DISBURSEMENTS FUNCTIONS: The Senior Finance Specialist (Disbursements –loans and grants, payroll and payments) leads the Disbursement function and ensures accurate, timely and client-oriented approval of over $1 billion of resources annually by efficiently approving loans and grants disbursements globally, ensuring IFAD staff receive accurate payroll monthly and payments globally in IFAD and our partner agencies in 65 locations globally. 

Key Performance Indicators

Senior 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. Senior 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.

Working Relationships

Internally Senior 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 and FMD in global technical fora and be in direct contact with external auditors and counterparts in other IFI and UN organizations.
The key performance indicators for Senior Finance Specialists at this level include leadership, both technical and team.

Job Profile Requirements

Organizational Competencies:

Level 2:

• Building relationships and partnerships – Builds and maintains strategic partnerships internally and externally
• Communicating and negotiating – Acquires & uses a wide range of communication styles & skills
• Demonstrating leadership – Leads by example; initiates and supports change
• Focusing on clients – Contributes to a client-focused culture
• Learning, sharing knowledge and innovating – Challenges, innovates & contributes to learning culture
• Managing performance and developing staff – Manages wider teams with greater impact on others and on the organization
• Managing time, resources and information – Coordinates wider use of time, information and/or resources
• Problem-solving and decision-making – Solves complex problems and makes decisions that have wider corporate impact
• Strategic thinking and organizational development – Staff in management and/or strategic leadership roles
• Team working – Fosters a cohesive team environment

Education:

• Level – Advanced university degree.
• Position-specific: The advanced university degree may be substituted by a relevant first university degree (Bachelor or equivalent) plus a specialized professional certification (CPA, Chartered Accountant, CIPFA designation or equivalent).
• Areas – Accounting, Finance, Business Administration or other job related field
• Degree must be an accredited institution listed on https://www.whed.net/home.php .

Certifications: 

• Position:specific: Professional qualification such as  CPA, Chartered Accountant, CIPFA designation or equivalent is mandatory.

Experience:

• At least eight (8) years of progressively responsible professional experience in finance or related field.
• Three (3) years experience in a multi-lateral or national organization providing support on a global scope;

Position-specific:

• Demonstrable advanced analytical/excel skills and attention to detail required. Experience/knowledge of IFRS or similar international standards is highly desirable. 
• Demonstrable experience in project management of financial systems implementations. 
• Strong team supervisory experience
• Advanced knowledge of ERP system (e.g. People Soft, Flexcube, etc.)

Languages:

• Required English (4 – Excellent) 
• Desirable: French, Spanish, or Arabic (3 – Good) 

Skills:

• IFAD financing strategy: Expertise on the Fund`s governing and financial structure, mandate, long-term business strategy, financial rules and regulations
• Risk & compliance: Know-how in asset liability management, risk reporting, capital adequacy, quality assurance and compliance (e.g. Anti-money laundering (AML), Know your customer (KYC) processes), etc.
• Digital Finance, FinTech and related: Know-how in fintech applications, robotic process automation, blockchain and digital finance applications to design, setup, implement and report
• Disbursements, Payroll and Payments: Know-how in financial checks required for disbursements of loans and grants, payments and payroll transactions to reduce risk of error, fraud and non-compliance with rules, maintenance of clean vendor master files, arrears and debt management of loans
• 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
• Strategy implementation: Ability to lead and manage the development and implementation of medium to longer-term strategies for IFAD / for respective divisions
• Performance management: Know-how in managing performance so that staff supervised deliver on the agreed objectives and meet their development needs while meeting the needs of IFAD. Is proficient in establishing clear performance goals (operational and behavioural) and learning plans as well as in evaluating the performance of staff against the set goals.
• Basic ICT & digital fluency: High level of digital literacy and ability to quickly get familiar with new digital tools (e.g. ability to carry out EPR data entry and extraction when budgeting; monitoring security systems, uploading content to inter/intra-net websites, etc.)
• Confidentiality & Discretion: Establishes self and division as trusted advisor to internal stakeholders by maintaining high level of discretion and confidentiality in assignments; demonstrates sound judgement when dealing with sensitive and/or confidential matters; drives good governance and is a “Culture Carrier” demonstrating IFAD institutional conscience through his/her work.
• Leadership: Group thought leader, sought out by others and providing mentorship and effective guidance to others; Ability to build trust, inside and outside the organization by acting as a role model for IFAD’s core values and competencies, and to provide a clear sense of direction, mentorship and effective guidance to the team, strategizing the IFAD’s goals, giving the vision, empowering the team and ensuring a positive environment for all.

Other Information

This is a re-advertisement of JO 21893 at P-4 level. Candidates who had already applied to JO 21893 do not need to re-apply.

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

Please be aware of fraudulent job offers. IFAD does not charge any fees at any stage of the recruitment process. Official communication from IFAD will always come from e-mails ending in @ifad.org.

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.

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