Assistant Treasurer

Before submitting an application, UNHCR staff members intending to apply to this Job Opening are requested to consult the Recruitment and Assignments Policy (RAP, UNHCR/HCP/2017/2 and the Recruitment and Assignments Administrative Instruction (RAAI), UNHCR/AI/2017/7 OF 15 August 2017.

Assistant Treasurer

ORGANIZATIONAL CONTEXT
The Assistant Treasurer reports to the Treasurer and Head of Treasury and Cash Service. Under delegated authority, the incumbent is responsible to assist the Head of Service to discharge accountabilities under the provisions of the UN Financial Regulations and UNHCR¿s Financial Rules. The Assistant Treasurer provides expertise and leadership in Treasury and Risk Management being able to apply best practice and provide financial expert knowledge together with proven expert experience to safeguard the cash holdings and reserves. The Treasury and Cash Service provides specific Treasury policy guidance, development and deployment of systems, processes and procedures to centrally manage cash resources in an operational decentralized environment, in some 128 countries. This includes providing multi-currency foreign exchange management, together with evaluating financial risk exposures. This includes managing substantial global foreign exchange volumes in a multi-currency portfolio transacting equivalent of US$1.5 billion per annum in foreign exchange transactions alone.
The Assistant Treasurer is responsible for global liquidity and bank account management to ensure the integration and discharge of the Organization¿s global cash management requirements. The incumbent provides technical expertise and oversight in the application of risk management methodologies and measures used in the financial industry to apply industry standard risk analysis and evaluation to safeguard the value of global cash resources. Treasury and Cash Service is required to provide professional treasury expertise and best practices, together with guidance in managing global cash resources which are fully committed against UNHCR¿s programmes and operations. Furthermore, specific Cash Based Intervention (CBI) Institutionalization entails the design of a bespoke Financial Control Framework together with validating the best practice requirements for governance and financial infrastructure to ensure integrated financial management, with full transparency and accountability for effective and efficient delivery. The implementation of the institutionalization together with mainstreaming of CBI¿s introduces new and significant financial control requirements for the Organization. The Assistant Treasurer will contribute to the design and implementation of novel cash management solutions that are required to be structured together with the formulation and design of an integrated ¿end to end¿ system and processes approach, derived from registration through payment to beneficiary, and financial reporting on an individual transactional basis. Therefore, Treasury management expertise is indispensable to contribute to the integrated delivery of UNHCR¿s CBI strategy, roll-out plan to ensure utmost mitigation of any financial and reputational risk that is inherent to the delivery of cash approach, selected bank account structure and associated delivery modality. 
The Assistant Treasurer supports econometric evaluations through applying expert financial risk management methodologies, utilizing appraisal approaches for currency risk and asset investments. Specifically evaluating and managing a multi-currency portfolio, assessing and evaluating correlated currencies exposures derived from receiving and paying currencies, including currency denomination of short-term investments of surplus funds that are not for immediate use. Treasury and Cash Service is tasked to develop strategies, policies and procedures for asset investment, determining the asset and liability models, and resulting asset allocation strategies and recommending the selection of  related financial instruments. This requires the establishment of appropriate bank counterparty and custodian arrangements, and the supervision of investment management in compliance with the Financial Regulations and Rules of the Organization, and the guiding principles of the United Nations. Treasury and Cash Service develops investment policies, processes and procedures to optimize the availability of cash holdings and maximize income from all financial resources. It also involves to continuously leveraging  its already expert Treasury Management Systems (TMS) together with upholding the integration to banking institutions to achieve  automated global real time liquidity management together with automated  cash flow forecasting derived across the systems from contributions receipts to disbursements.  Treasury and Cash Service plays a key role in the custody and distribution of financial resources and the monitoring of financial management and reporting, in compliance with statutory requirements related to financial risk management, and in compliance with IPSAS). Treasury and Cash Service is led by Head of Treasury and Cash Service - Treasurer D1 with three main units: (1) Foreign Exchange and Investment Management with 1 P5 (Assistant Treasurer), 1 G7, 1 G5; (2) Global Banking and Cash flow Management with 1 G7, 1 G6; (3) Treasury Financial Risk Management, Cash Based Interventions with 2 P4.

FUNCTIONAL STATEMENT
Accountability
- Treasury and related financial management are ensured for effective safeguarding of global cash resources to implement UNHCR programs, that provides transparency and reporting to stakeholders.
- Adherence to the UN Financial Regulations and UNHCR¿s financial rules, policies and procedures with regards to governance and oversight is assured.
- All policies, documentation, substantiation related to Treasury and financial risk management are accurate and complete, best practice and stand up to the scrutiny of oversight bodies and statutory requirements.
- UNHCR management are provided with timely and accurate information on Treasury Management indicators and relevant critical impact analysis.
- Centralized treasury management approach and bank account structure are meeting operational needs, including CBI requirements in Treasury, and integration to Financial Service Provider.
- Headquarters and the Field are provided with guidance and instructions to be able to comply with UN and UNHCR financial regulations, rules and audit requirements.

Responsibility
- Review and maintain adequate internal financial controls in compliance with underlying UNHCR's Financial Rules and Investment and Cash Management Guidelines, Financial Manuals, and in accordance with the Financial Internal Control Framework.
- Provide Senior Management with accurate and timely treasury, cash flow and liquidity analysis, and financial information, based on evaluation of data and producing financial treasury management reports together with reporting against key performance indicators.
- Provide functional system assessment and integration to PeopleSoft ERP (MSRP), Treasury Management Systems and bank systems and review underlying functional systems specifications and procedures.
- Direct and contribute to the centralized Treasury approach at Headquarters, and overseeing and substantiating decentralized execution at the field level where it is still required due to country restrictions.
- Provide recommendations to enhance financial and treasury policies and to implement the necessary changes that will strengthen the financial controls and management throughout the Organization.  
- Provide global oversight of bank account management, liquidity holdings, foreign exchange conversion.
- Provide guidance for the development of standard operating procedures for treasury operations at the Field level, and validate operational banking requirements to meet operational needs in remote locations and specifically also for emergency operations.
- Develop financial guidance to ensure due diligence to mitigate banking and cash related fraud at the field level, specifically also in compliance to anti-money laundering policy and financial regulatory requirements.
- Monitor and evaluate performance of financial service providers and recommend modification and/or termination of banking agreements to meet UNHCR technical and functional requirements for 'value for money'.
- Conduct research and in-depth analysis of key audit and oversight matters and recurring recommendations relating to Treasury Management and associated financial fraud.
- Promote best practice application in global liquidity, investments, and bank management.
- Manage the human and financial resources in the Service, and guide, support and appraise staff's substantive, technical and managerial skills.
- Contribute to the guidance and advice globally on policy and operational issues related to Treasury Management, selection of financial service providers, structuring of related agreements.
- Plan, organize, manage providing supervision on the day-to-day delivery of related core Treasury and financial Risk Management and manage staff resources.
- Conduct the Secretariat role and assist Head of Service in managing the Investment Committee and investment reporting, including risk and performance measurement.
- Coordinate the Treasury management work with other relevant divisions of the organisation.

Authority
Under the delegation of the Controller and Director of Division Financial and Administrative Management:
- Enforce compliance with all applicable treasury and related financial management regulation, rules, policies, processes and policies. 
- Issue core guidance for streamlining treasury and risk management processes and internal controls.
- Approve and execute foreign exchange and investment transactions in accordance with Foreign Exchange and Investment Guidelines.
- Approve opening and closing of bank accounts and validate contextual bank account structures to meet global operational requirements.
- Approve the submission of authorized banking signatories to local banks at the Field level.
- Approve the release of cash funds from, applying best practices in approval, within the centralized treasury management approach, to instruct banking counterparties, to approve settlements instructions and release transfer of funds by means of using electronic interfaces or manual orders by facsimile transmission.
- Make recommendations to Senior Management and statutory bodies regarding Treasury and Risk Management, including related Financial Management as applicable and necessary.       

ESSENTIAL MINIMUM QUALIFICATIONS AND PROFESSIONAL EXPERIENCE REQUIRED
- Graduate (equivalent of a Master's) degree in Business Administration or Finance, or related fields.
- A minimum of 11 years at the global level, of progressively responsible experience in treasury and risk management, banking, including foreign exchange and investment management, assessment of financial service providers, risk appraisal in of bank counterparty, integrated financial management and reporting in adherence to accounting standards (e.g. IPSAS). 
- Proven experience in overseeing the establishment and management of global Treasury and Financial Risk. Management systems, processes and procedures in a global context with major bank relationships, as well as local banks, adhering to financial regulatory requirements.
- Relevant experience acquired in global liquidity management and global multi-currency requirements. 
- Demonstrated experience in providing oversight and governance in Treasury and Financial Risk Management together with statutory reporting as well as regulatory compliance.
- Proven application of fundamentals and methodologies of in financial risk management and substantiating industry standards and principles.
- Knowledge and demonstrated expertise of Treasury Management Systems with specific emphasis of integration and automation of Treasury and Financial Accounting Systems, including banking transactional systems, processes and automation thereof.
- Proven experience in investment performance reporting and providing governance through control mechanisms of managing investment committees.
- Experience and ability to work with internal and external financial service providers at a senior level.
- Experience in integrated ERP systems (preferably PeopleSoft/Oracle), including expertise in financial instruments transactions, their execution and accounting compliance with the IPSAS.
- Experience in Cash Based Intervention and associated requirements in establishing a financial control framework for transparency and accountability.
- Proven ability to deal under a demanding and emergency related requirements being able to set priorities in a considerate and service-oriented manner, under time pressure, with zero tolerance for error.
- Proficiency in English, including strong drafting skills and capacity to communicate complex treasury and risk management issues to management, and directly at the operational field level.

DESIRABLE QUALIFICATIONS & COMPETENCIES
- Good knowledge of the UN system, its financial regulations, rules and reporting requirements.
- Demonstrated leadership and managerial qualities in organizing work effectively in a multicultural setting.
- Demonstrate outstanding communication skills, taking initiative, with strong technical and functional abilities and providing sound assessment and judgement.
- Contributing to effective team development and providing guidance to Field operations.
- Exposure to UN field operations, and humanitarian operations.
- Working knowledge of French. C001L4 - Accountability Level 4
C002L4 - Teamwork & Collaboration Level 4
C003L4 - Communication Level 4
C004L4 - Commitment to Continuous Learning Level 4
C005L4 - Client & Result Orientation Level 4
C006L4 - Organizational Awareness Level 4
M001L4 - Empowering and Building Trust Level 4
M002L4 - Managing Performance Level 4
M006L4 - Managing Resources Level 4
M005L4 - Leadership Level 4
M003L4 - Judgement and Decision Making Level 4
M004L4 - Strategic Planning and Vision Level 4
X002L4 - Innovation and Creativity Level 4
X001L4 - Analytical Thinking Level 4
X006L4 - Policy Development & Research Level 4

Before applying to this position, we strongly encourage colleagues to read the country specific FAQs information leaflets which can be found  on the Intranet under Staff Resources > Duty of Care. The information leaflets are specifically designed to answer some of the key questions potential applicants might have before deciding to apply. 

Advanced University Degree in Business Administration or Finance, or related fields.
- A minimum of 15 years at the global level, of progressively responsible experience in treasury and risk management, banking, including foreign exchange and investment management, assessment of financial service providers, risk appraisal in of bank counterparty, integrated financial management and reporting in adherence to accounting standards (e.g. IPSAS). 
- Proven experience in overseeing the establishment and management of global Treasury and Financial Risk. Management systems, processes and procedures in a global context with major bank relationships, as well as local banks, adhering to financial regulatory requirements.
- Relevant experience acquired in global liquidity management and global multi-currency requirements. 
- Demonstrated experience in providing oversight and governance in Treasury and Financial Risk Management together with statutory reporting as well as regulatory compliance.
- Knowledge and demonstrated expertise of Treasury Management Systems with specific emphasis of integration and automation of Treasury and Financial Accounting Systems, including banking transactional systems, processes and automation thereof.
- Proven experience in investment performance reporting and providing governance through control mechanisms of managing investment committees.
- Experience in integrated ERP systems (preferably PeopleSoft/Oracle), including expertise in financial instruments transactions, their execution and accounting compliance with the IPSAS.
- Experience in Cash Based Intervention and associated requirements in establishing a financial control framework for transparency and accountability.
- Proven ability to deal under a demanding and emergency related requirements being able to set priorities in a considerate and service-oriented manner, under time pressure, with zero tolerance for error.
- Proficiency in English, including strong drafting skills. The Assistant Treasurer reports to the Treasurer and Head of Treasury and Cash Service. Under delegated authority, the incumbent is responsible to assist the Head of Service to discharge accountabilities under the provisions of the UN Financial Regulations and UNHCR¿s Financial Rules. It entails to provide integrated Treasury and Financial Risk Management in Liquidity, Foreign exchange and Investment.  The incumbent is required to adopt best practices in systems and process integration together with a centralized treasury management approach which includes managing a  global banking infrastructure to deliver operational requirements in some 125 countries, and a complex  multi-currency environment.   
Furthermore, the new targeted CBI institutionalization efforts introduce new and significant financial control risks for the Organization. In this context the incumbent is required to implement the design of an integrated bespoke CBI Financial Control Framework, which includes specific CBI systems, processes and procedures. It is critical to put in place crucial building blocks to deliver UNHCR¿s strategy and to ensure upmost mitigation of any financial and reputational risk that is inherent to the delivery of Cash. In line with the strategic intent for Treasury and Cash Services, the Assistant Treasurer P5`s support will be key in view of increased roles and responsibilities. n/a n/a - Good knowledge of the UN system, its financial regulations, rules and reporting requirements.
- Demonstrated leadership and managerial qualities in organizing work effectively in a multicultural setting.
- Demonstrate outstanding communication skills, taking initiative, with strong technical and functional abilities and providing sound assessment and judgement.
- Contributing to effective team development and providing guidance to Field operations.
- Exposure to UN field operations, and humanitarian operations.
- Working knowledge of French.

Please note that the closing date for all vacancies in the September 2017 Compendium is Monday 6 November 2017 (midnight Geneva time).