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Chief, Treasury, P-5, Division of Financial and Administrative Management (DFAM), New York HQ, # 8215

New York City (United States of America) | Washington D.C.

If you are a committed, creative professional and are passionate about making a lasting difference for children, the world's leading children's rights organization would like to hear from you.

For 70 years, UNICEF has been working on the ground in 190 countries and territories to promote children's survival, protection and development. The world's largest provider of vaccines for developing countries, UNICEF supports child health and nutrition, good water and sanitation, quality basic education for all boys and girls, and the protection of children from violence, exploitation, and AIDS. UNICEF is funded entirely by the voluntary contributions of individuals, businesses, foundations and governments.

Purpose of the Position

The incumbent of this post will be responsible for managing financial risks, providing global liquidity when and where it is needed and investing liquidity not immediately required. This is done to ensure that the financial resources are available for UNICEF to accomplish its mission of helping children while at the same time, identifying, managing and mitigating financial risks.

Financial risk management aims to preserve the value of:

  • Receivables and/or other cash flows coming from Governments, National Committees and other UN Agencies; UNICEF's annual revenues total approx. USD 5 billion in over 11 major currencies,
  • Payables and/or other cash flows in over 95 different currencies,
  • Funds held in the portfolio,
  • Funds held in bank accounts worldwide through financial credit analysis.
  • Liquidity management involves providing liquidity to over 155 field offices as well as HQ locations in NY, Copenhagen, Geneva and Tokyo in multiple currencies.

    Portfolio management to aims to maximize investment returns on roughly USD 4.4 billion of invested liquidity in financial instruments in currencies and tenors and issued by organizations acceptable to UNICEF.

    An integral part of the above activities includes the oversight of all of UNICEF's bank accounts globally as well as the management of its relationships with over 40 financial institutions worldwide. Additional responsibilities of the position include Executive Reporting of Treasury's performance and forecasts of UNICEF's financial position.

    Key Expected Results

    1. Risk Management

  • Identification and mitigation of risks stemming from cash flows (both in and out), investments, and financial counterparty risks. This includes the regular preparation and execution of a hedging strategy for foreign exchange risk, recommendation on type of financial instruments and asset allocation, and financial analysis of bank financial statements. Market risk assessment includes information received from financial institutions and paid subscriptions to Moody's Credit Risk and Bloomberg information systems. Data includes macro-economic forecasts and credit reviews. Hedging strategy execution includes the purchase of foreign exchange contracts in both spot and forward financial markets. Matching balance sheet assets and liabilities for currency, tenor and amount. Annual foreign exchange turnover is USD 1.3 billion in 11 major convertible currencies as well as minor currencies for funding offield office operations.
  • 2. Liquidity management

  • Provide daily liquidity to UNICEF' s Global operations. This involves daily, weekly, monthly, quarterly and annual forecasts of cash flow in multiple currencies based on: historical and seasonal trends, the approved Medium Term Strategic Plan, aging of encumbrances, anticipated cash flows from donors represented by the Public Partnerships Division ("PPD"), Private Fundraising and Partnerships Division ("PFP") and its related National Committees. This includes monitoring of the cash flows and forecasts from PPD and PFP and pursuing their collection of funds as well as daily collection of· cash flow data from HQ disbursements centers. Working capital is invested for currency, amount and tenor to ensure liquidity. Cash flow is prioritized to meet organizations contractual obligations and programme needs. This includes the purchase of local currency for field offices on a value added basis
  • 3. Portfolio management

  • Maximize returns on the investment of a current portfolio of some USD 4.4 billion within approved risk and tenor parameters, as well as performance benchmarks. These parameters and benchmarks are set and approved by Treasury's oversight group, the Financial Advisory Committee ("FAC"). The strategy is executed by purchase of financial instruments in varying currencies, amounts and tenors, in accordance with FAC approved limits. Annual Portfolio turnover is USD 12 billion. Financial investment instruments include: Fixed Income Securities issued by Governments, Supranationals and corporate debt issued by approved financial institutions, as well as Commercial Paper, Banker's Acceptance, CD's, TD's, Structured Deposits and Money Market funds.
  • 4. Bank account and business partner management

  • This includes the

  • determination of UNICEF's treasury banking requirements including electronic banking, daily electronic balance and transaction reporting, electronic payments and electronic data required in industry standard format for auto reconciliation requirements. This responsibility is also shared if there are other integrated non-treasury banking relationships with the same financial institution.
  • Recommendation of House banks. Preparation and analysis of a Request for Proposal (RFP) is performed as needed. Negotiating and monitoring of Bank terms and conditions, services, contracts and costs.
  • Credit reviews of House banks and business partners are performed regularly throughout the year. (d) Satisfaction of required documentation in order to maintain business partner relationships.
  • 5. Executive reporting

  • Executive reporting of treasury performance against benchmarks, financial forecasts and financial review of UNICEF. Maintenance and presentation of key financial data to senior staff in DFAM - as well as other senior staff within the organization, including members of the FAC.
  • 6. Oversee back office treasury support functions

  • This includes both written and oral financial trade confirmation, settlement and payment, data generation, preliminary reconciliations on 14 key Treasury bank accounts, financial reporting within DFAM, end of day, week, month and year processing including investment accruals, revaluations of treasury investments and bank accounts, maintenance of interest rate data files, posting of realized gains and losses from treasury purchase and sale of currencies and negotiation of compensation on failed treasury transactions.
  • 7. Any other duties assigned by the Deputy Director of Finance or the Comptroller.

    Qualifications of Successful Candidate

  • An Advanced University (Master's) Degree in, finance, accounting, banking, economics, business management, business administration, international relations, or other related social science field is required. *In lieu of an advanced university degree, a Bachelors degree and a valid professional certification (Treasury Manager, Series 7, CFA; CA, CPA; etc.) from an internationally recognized, accredited institution is acceptable.
  • Demonstrated and proven technical expertise in the management of complex foreign exchange environments and investments is required.
  • Prior experience in Forex (FX) and investment dealing is required,
  • A minimum of ten (10) professional experience working in international finance/treasury including cash, currency and investment management for an international bank, or equivalent experience from a multi-national's corporation is required.
  • Fluency in English (written & verbal) is required. Knowledge of an additional UN Language (Arabic, Chinese, Russian, Spanish) is considered an asset.
  • Competencies of Successful Candidate

    Core Values:

  • Commitment
  • Diversity and inclusion
  • Integrity
  • Core competencies:

  • Communication Level - III
  • Drive for results Level - III
  • Working with people Level - III
  • Functional Competencies:

  • Leading and Supervising Level - III
  • Formulating Strategies and Concepts Level - III
  • Analyzing Level - III
  • Relating and Networking Level - II
  • Deciding and Initiating Action Level - III
  • Persuading and Influencing Level - II
  • Applying Techical Expertise Level - III
  • Planning and Organizing Level - III
  • Following Instructions and Procedures Level - III
  • To view our competency framework, please click here.

    UNICEF is committed to diversity and inclusion within its workforce, and encourages qualified female and male candidates from all national, religious and ethnic backgrounds, including persons living with disabilities, to apply to become a part of our organisation.

    UNICEF is committed to diversity and inclusion within its workforce, and encourages qualified female and male candidates from all national, religious and ethnic backgrounds, including persons living with disabilities, to apply to become a part of our organization. To apply, click on the following link

    Before applying, please make sure that you have read the requirements for the position and that you qualify.
    Applications from non-qualifying applicants will most likely be discarded by the recruiting manager.

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    • Organization: UNICEF - United Nations Children’s Fund
    • Location: New York City (United States of America) | Washington D.C.
    • Grade: Mid/Senior - Internationally recruited position - Mid/Senior level
    • Occupational Groups:
      • Banking and Finance
      • Operations and Administrations
    • Closing Date: 2016-12-16

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