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:
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:
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.
For the entire list of competencies, please visit ifad.org/en/careers
Minimum recruitment qualifications