Call for Interest: Treasury Officer (Investment Management, TRE), P3 - Rome, Italy (Short-term Opportunity until Year End)

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 Treasury Services Division (TRE) mandate is to safeguard IFAD’s resources through liquidity planning, borrowing, management of investments and cash operations with the aim to preserve capital and maximize returns within the provisions of IFAD’s Financial Regulations; formulate and implement investment and cash operations strategies and policies; ensure prompt availability of cash for IFAD operations through prudent liquidity and borrowing planning; 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; as well as manage IFAD’s borrowing programme.

Position specific:

Within the Division, the Investment Management (IM) team is responsible for managing IFAD's investment portfolio and the assets of other funds under IFAD management. The incumbent will be committed to the delivery of assigned objectives and activities and keep abreast of related industry developments and skills required to respond to the divisional work plan and results.

The Treasury Officer (Investment Management) will work under the overall strategic, policy and management guidance of the Director and Treasurer, and direct supervision/guidance of the Senior Treasury Officer, Head of Investment Management.

The incumbent is a seasoned professional reflecting an in-depth, 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. 

Position specific:

The main responsibilities of the incumbent are ensuring the prudent management of the IFAD investment portfolio; providing sound technical advice and support to Treasury staff across all functional teams; ensuring that timely responses are provided to internal and external parties; representing the Treasury Division on Investment Management matters at internal and external meetings requested by the Senior Treasury Officer (Head of Investment Management) or Management.

1.FINANCE BUSINESS PARTNER: The incumbent is a credible, trusted partner to the Department/Division/Unit where assigned. They support 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, 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. TREASURY 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.

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. They use 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. 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 specific:

5. INVESTMENT MANAGEMENT: The Treasury Officer (Investment Management)  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. Activities performed by the incumbent 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, as applicable; and

(c) preparing timely, substantive replies to internal and external audit observations concerning the assigned financial operation. The Treasury Officer (Investment Management) is accountable for:    

• Determining the optimal asset allocation for the liquidity portfolio and other internally managed funds in order to maximize risk-adjusted returns;    
• Developing and recommending trade ideas, trading strategies and investment products for the liquidity portfolio and trust funds;    
• Executing fixed income, money market, currency and derivative transaction for alle internally managed funds;    
• Proposing and implementing hedging strategies using fixed income and derivative instruments;    
• Performing compliance, credit and scenario analysis to test investment decisions;    
• Monitoring the risk exposure of the liquidity portfolio and all other internally managed funds, and managing it within the Fund’s investment guidelines and risk parameters;    Conducting market and issuer specific research;   
• Monitoring and analysing external fund managers;    
• Monitoring performance against benchmarks and conducting performance attribution analysis of the liquidity portfolio and trust funds;    
• Recommending and evaluating benchmarks and other risk and return metrics;   
• Contributing to investment management related policy papers and periodic reporting on investment performance;   
• Developing analytical tools to capture and monitor exposures and to keep abreast of developments in financial markets   
• Leading projects to introduce new financial products to enhance portfolio returns and/or liquidity;   
• Supporting key system and process developments designed to improve operational efficiency and risk management;    
• Training and coaching the team’s Treasury Analyst/s and other Treasury staff as requested by the Head of Investment Management;     
• Maintaining relationships with trading counterparties and managing the onboarding of new counterparties; and    
• Representing the Head of Investment Management at internal and external meetings as required.

The incumbent is accountable for in depth analysis of a variety of financial reports that reflect transactions where many different consecutive stages of operations are involved; problems involve interrelationships and interactions within the financial structure and their role is to ensure that the Organization's financial business conforms to regulations. Based on a thorough knowledge of finance principles, concepts and systems, the incumbent independently performs the full range of work for a complete, homogenous financial operation or components of financial operations in support of a geographic or other organizational area. The supervisor may be consulted in the analysis of complex and/or precedent setting cases to ensure consistency in the interpretation and application of regulations and rules and to document such decisions. The work typically requires the identification of the need for changes to finance policies, as well as the authoritative interpretation and application of finance policies, rules and regulations to a broad range of complex casework. The key performance indicators for the incumbent include accurate performance of assigned finance operations, technical quality in terms of both substantive depth and adaptive relevance to client needs and customer service approach to problem resolution.

Position specific:

The Treasury Officer (Investment Management) manages the liquidity portfolio and other internally managed funds against benchmarks and risk parameters set out in the investment guidelines of the specific funds. S/he conducts market and issuer-specific research to develop and recommend trade ideas, trading strategies, hedging strategies and investment products. S/he performs compliance, credit and scenario analysis prior to executing fixed income, money market, currency and derivative transactions. They perform portfolio performance attribution analysis, develops analytical tools, contributes to reports and policy papers, and supports system and process development projects

The incumbent may represent the unit to which assigned on related matters at internal and external meetings and conferences as requested by the supervisor. Internally, the incumbent is required to explain, clarify and implement financial plans and decisions taken or procedural changes planned to ensure accuracy, completeness and integrity of financial data and reporting. They collaborate with Senior Finance Specialists to provide their feedback on the policies and procedures improvement process. Contacts are with finance, budget, loans and grants, treasury, audit, risk management, legal and programme management staff in country offices and Headquarters. External work relationships for the incumbent normally require an exchange of information with a range of outside sources including banking counternparts, peers from other Multilateral Development Institutions, external advisors and financial service providers, lenders and investors.

Position specific:

The Treasury Officer (Investment Management) maintains and manages professional relationships with the investment community, dealer counterparties, central banks and other participants in financial markets. They actively seek to establish new market contacts and manages the onboarding of new counterparties in accordance with internal processes and controls. They work closely with the Financial Planning & Modelling-Middle Office (FPM) and Cash Management-Back Office (CM) units within Treasury, Office of Enterprise Risk Management (RMO), Financial Controller’s Division (FCD) and Office of the General Counsel (LEG) among others.

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 performance and developing staff -

•       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 from an accredited institution in a technically relevant area. Degree must be an accredited institution listed on https://www.whed.net/home.php.
• The advanced university degree may be substituted by a first university degree and at least four (4) additional years of relevant professionalexperience over and above the minimum number of years of experience.
• Areas - economics, finance or other job related field.

Certifications:

Professional qualifications, such as the following, are an advantage:

•       Associate Member (AMCT) – Association of Corporate Treasurers (ACT)

•       Certified Treasury Professional (CTP)

•       Chartered Financial Analyst (CFA)

•       International Capital Markets Association (ICMA)

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, audit firm, or other relevant institution.
• Two (2) years preferably in the United Nations or an international financial institution, or another multi-cultural organization or a national organization providing support on a global scope.
• Position-specific experience: In-depth knowledge of treasury management systems and financial market trading platforms (e.g. Bloomberg Terminal), particularly in portfolio analytics, efficient frontier analysis, performance attribution, cash flow projections analysis, and other investment management solutions.

Languages:

•       Required English (4 – Excellent) 

•       Desirable: French, Spanish and/or Arabic

Skills:

• Procedure adherence: Ability to strictly adhere to established, formal guidelines, including in new situations.
• Procedure interpretation: Ability to interpret established, formal guidelines to address and recommend solutions or further actions required.
• Capital market instruments: Knowledge of capital markets instruments (fixed income, currency, derivatives, money markets), risk and performance metrics and quantitative tools of fixed income valuation (cash flow, present value, interest rate risk, duration, CVaR, tracking error, etc.).
• Liquidity management: Know-how in liquidity planning, liquidity investment, investment portfolio management and reporting.
• 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.
• Financial data integrity and financial systems: know-how in systems interface control, core banking system management, data mining and analytics.
• Financial process management: Know-how in the management of financial processes such as reporting, treasury, investment processes and securities trading, cash management processes , etc.
• Financial reporting & accounting: Know-how in financial reporting, statutory and other reporting as well as advanced application of IFRS standards on financial instruments including derivatives, credit risk, sustainability disclosures, financial regulations, policies, rules and procedures applicable to IFAD and IFIs.
• 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.

• Risk management (e.g. reputational): Identification and assessment of potential legal, reputational, ethical risks and liabilities in relation to the Fund’s activities; contributing strongly to the division in a second line of defense function; demonstrating ability to manage these risks while advising senior management on contingency and mitigation strategies.

• Basic ICT & digital fluency: High level of digital literacy and ability to quickly get familiar with new digital tools (e.g. treasury management systems, financial market data systems, trading platforms, risk management dashboards, financial modelling, etc.).
• Interpersonal skills: Ability to deal patiently and tactfully with others (e.g. dealer counterparties, external asset managers, financial service providers, colleagues.), including senior individuals (e.g. high-level meeting participants).
• 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.

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 IFAD Diversity, Equity and Inclusion (DEI) Strategy and IFAD policy to preventing and responding to sexual harassment, sexual exploitation and abuse

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. Given the diverse technical nature of the assignments, IFAD is looking for consultants of varying ability above the minimum threshold stated.

This call is advertised as a short-term assignment until year end and expected to start shortly after selection. Should an external candidate (including consultants and staff members not meeting IFAD HR Implementing Procedures' definition of 'internal') be selected, the contract type would be that of a short-term professional (TPO). In the event an IFAD staff member, holding a Fixed Term contract be selected, the movement would be implemented as a Temporary Assignment through the applicable provisions. Applicants should verify and obtain their supervisors' support to release in the event they are selected.

Please note that this short-term contract carries no expectation of extension, continuous employment or conversion to any other type of appointment. Temporary assignments are open to staff members, holding a FT/continuing contract and are governed by the applicable HRIP provisions. Temporary assignments may include movement to a higher grade and granting of a special post allowance (SPA) in line with the provisions of HRIP Chapter 3, and at the end of the temporary assignment staff will return to their former position at the original grade.