Senior Finance Officer (Treasury) Senior Finance Officer (Treasury) …

IFAD
in Rome
Contract, Full time
Last application, 26 Nov 20
P-4 salary as per ICSC salary scale & Rome post adjustment, & ICSC benefits and entitlements
IFAD
in Rome
Contract, Full time
Last application, 26 Nov 20
P-4 salary as per ICSC salary scale & Rome post adjustment, & ICSC benefits and entitlements
Senior Finance Officer (Treasury) posts are accountable for managing treasury operations, providing leadership to staff in asset management, funding, financial analysis and operations, and risk management activities as performed by the Treasury Division. Activities may also include conducting portfolio analytics, risk management analyses, investment trading and monitoring of a diverse range of financial service providers and counterparties. S/He plays a key role in formulating and reviewing Treasury-related strategies and policies.

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.

Post's organizational accountability

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.

Senior Finance Officers at this level manage a complete financial operation, encompassing a wide variety of funding sources, a large volume of transactions and extensive dispersed activities. The accountabilities / key results include:

  • Finance Practice Leader
  • Finance Business Partner
  • Financial Management
  • Agent of Change

Senior Finance Officers work under the overall strategic, policy and management guidance of the Chief Financial Officer and the direct supervision of the Treasurer. They are typically accountable for unit work plan establishment and supervision of a team of Finance Officers, Associates and/or Assistants.

Key results expected / Major functional activities

1. FINANCE PRACTICE LEADER: The Senior Finance Officer at this level is accountable for technical leadership in his/her 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, best practice used by peers, as well as for soundness of judgement and conclusions.  S/He directly supervises a finance unit with responsibility for work planning and organization, supervision of the work of the unbit/section assigned and establishing and monitoring performance management indicators of success. The Senior Officer 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. His/Her 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 Officer ensures accuracy and enhances accountability in the preparation of IFAD’s financial statements, board reporting, policies and procedures.

2. FINANCE BUSINESS PARTNER: The Senior Finance Officer is a credible, trusted partner to the client offices served and the Department/Division/Unit where assigned. S/He 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 s/he promotes the concept of results based management and accountability for the financial resources entrusted to IFAD.

3. FINANCIAL MANAGEMENT: At this level the Senior Finance Officer 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. Representative occupational activities include:

  • Senior Finance Officer (Treasury) posts are accountable for managing treasury operations, providing leadership to staff in asset management, funding, financial analysis and operations, and risk management activities as performed by the Treasury Division. Activities may also include conducting portfolio analytics, risk management analyses, investment trading and monitoring of a diverse range of financial service providers and counterparties. S/He plays a key role in formulating and reviewing Treasury-related strategies and policies. Responsibilities include, but are not limited to:
    • Invest and manage IFAD’s investment portfolio and understand the risks involved in the investment process;
    • Review,  update and enhance policies and procedures relating to IFAD’s liquidity management;
    • Achieve best possible returns from securities held in liquidity that is consistent with the IFAD’s risk appetite;
    • Establish and maintain a broad range of trading counterparts among global banks;
    • Execute short term rate strategies through use of cash and derivative instruments (only fixed income).
    • Follow up on external managers and develop the program, objectives and setup within IFAD
    • Review and enhance IFAD’s Treasury and Risk Management System;
    • Develop reporting to Management and Executive Board;
    • Represent IFAD Treasury at fora, symposiums and other events;
    • Achieve best possible returns from securities held in liquidity that is consistent with the IFAD’s risk appetite;
    • Takes responsibility for incorporating gender perspectives and ensuring the equitable consideration of women and men in all assigned HR activities; and
    • Develop team skills and collaboration among team members.

4. AGENT OF CHANGE: The Senior Finance Officer 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 Officer 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 Senior Finance Officer 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 Professional and General 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 (d) Information Technology Management through leveraging ERP functionality for improved business results, simplification of transaction and reporting processes and improved client services.

Impact of Key results / Key performance indicators

Senior Officers at this level 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 Officers 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. S/He 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 revision of finance Officer and analyst work performed at lower levels, taking corrective and adaptive actions.

The key performance indicators for Senior Finance Officers at this level include leadership, both technical and when managing people.

Representation / Work relationships

Internally Senior Finance Officers 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. Contacts extend throughout the organization and includes other divisions within the Financial Operations Department, as well as in the Office of Enterprise Risk Management and the Office of the General Counsel. Externally work relationships require collaboration and coordination 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. S/He will also be in direct contact with external auditors and counterparts in other IFI and UN organizations and with senior representatives of key financial service providers and counterpartiesincluding global investment banks, bond issuers, custodians, external managers and investment advisors.

Competencies

Organizational

For the entire list of competencies, please visit ifad.org/en/careers

Technical/Functional

  • Authoritative technical expertise and in-depth knowledge of the principles and concepts of investment portfolio management and risk management.
    Ability to independently review, update and enhance policies and procedures relating to liquidity management.
  • Demonstrated ability to establish and maintain a broad range of trading counterparts among global banks.
  • Demonstrated ability to execute short-term rate strategies through use of cash and derivative instruments.
  • Demonstrated ability to develop reporting to senior management and to executive boards.  
  • Ability to effectively represent at fora, symposiums and other events.
  • Ability to exercise high degree of independent judgment and initiative in analysing highly complex issues with the ability to make interpretative decisions and identify, assess and mitigate risks.
  • Track record of working as a part of a team, as well as leading a team. Ability to lead by example, initiating and supporting change, and demonstrating leadership and strategic thinking.
  • Demonstrate ability to communicate effectively in a diverse organization tailoring language, tone, style and format to match audience.

Minimum recruitment qualifications

Education:

  • Advanced university degree from an accredited institution in accounting, finance, business administration or other job related field. The advanced university degree may be substituted by a university degree (Bachelor or equivalent) plus at least four additional years of relevant professional experience, over and above the minimum number of years of experience as stipulated below.
  • Chartered Financial Analyst (CFA) charter, or other industry standard certification is desirable.  

Experience:

  • Minimum of 8 years of experience form banking/treasury, specifically from a fixed income trading operations or portfolio management.
  • Knowledge of Bloomberg and Reuters systems or similar systems and platforms, and familiarity with some in-house trading and risk management systems would be an advantage.

Language requirements:

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