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Finance Analyst

Rome (Italy)

  • Organization: IFAD - International Fund for Agricultural Development
  • Location: Rome (Italy)
  • Grade: P-1, International Professional - Internationally recruited position - Junior level
  • Occupational Groups:
    • Banking and Finance
    • Operations and Administrations
  • Closing Date: 2019-08-26

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Vacancy Announcement Number 1811
Date of Issue 24/07/2019
Deadline for Applications 26/08/2019
Organizational Unit Accounting & Controller's Div.
Level P-1
Duty Station ROME
Duration of Assignment 2 years fixed term renewable

Organizational context

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.


Post's organizational accountability

The Accounting and Controller's Division (ACD) is located in the Financial Operations Department. ACD supports the mission of IFAD by ensuring stakeholder confidence and protecting the clean external audit opinion on IFAD finances, ensuring sound financial practices and internal control at IFAD and providing innovative finance solutions to solve problems and improve decision making. ACD is also responsible for the integrity, transparency and control of the management of IFAD's resources. IFAD is transforming its financial architecture and putting in place risk and control functions. ACD has created an Controllership Unit to focus on internal controls and aspects of operational risk across IFAD.

The role includes supporting the new Controllership Unit to implement the second line of defence Controllership function which ensures assessment, monitoring, correcting and reporting on internal controls across IFAD on all resource streams, as well as providing finance innovation/automation/digitisation and support to all resource streams. The Finance Analyst, would work under the direct supervision of the Head of Controllership & Senior Finance Officer, ACD.

The Finance Analyst is a professional with knowledge and understanding of  IFAD’s financial principles, policies and procedures, market practices, applicable regulations, and ability to apply them at work. His/Her accountabilities include the following in the categories of:

•   Policy Development and Implementation Support
•   Financial Resources Management Support
•   Finance Business Partner
•   Managerial Functions

This position serves as a robust second line of defence at IFAD to effect the transformation of IFAD’s financial architecture and protect IFAD in its enhanced decentralisation. Transforming FOD/ACD’s functions to fully automated processes will enhance internal controls and support client service delivery to our decentralised offices and hubs. Supporting innovation and monitoring of all streams including Hosted Entities and internal controls, supporting effective planning, contribution of management and supervision of functions carried out in these areas.

Finance Analysts work under the overall strategic and management guidance of the Controller and Director, ACD and under direct supervision of the Head of Controllership/Senior Finance Officer of the Controllership Unit.


Key results expected / Major functional activities

POLICY DEVELOPMENT AND IMPLEMENTATION SUPPORT: The Finance Analyst supports services in the area of policy development and implementation support. Accountabilities include:

  • Assist in the development and implementation of new/revised work methods and procedures, such as Unit Charter, Internal Control Framework for operations including taxonomy and risk appetite that will be used as a key framework document of internal controls and serve to mitigate aspects of operational risk at IFAD
  • Assist in the development of policies on controls relating to compliance as required and assigned (e.g. Anti-money laundering (AML), Know your customer (KYC) processes, sanctions and Politically exposed persons (PEP) etc.)
  • Assist in the development and implementation of procedures as required and assigned for controls due diligence, sanctions screening, PEP screening in consultation with key stakeholders
  • Assist in the development and use of a system repository, system tools/modules to implement the above, fraud software and links to best practice use databases that other IFIs use
  • Support implementation of second line of defence review and monitoring Key Risk Indicators (KRIs)
  • Support development and use of a Reporting mechanism for incidents, sanctions linked to the risk dashboard
  • Support implementation of training and awareness as well as control risk champions
  • Support  development of a Reporting  mechanism for incidents, sanctions linked to the risk dashboard)
  • Provide guidance to staff inside and outside the finance component concerning the correct application of finance rules and procedures to cases.

FINANCIAL RESOURCES MANAGEMENT SUPPORT: The Finance Analyst supports financial resources management support services. Accountabilities include:

  • Support on all matters concerning Internal Control, relevant aspects of operational risk.
  • Provide assistance in identifying, assigning internal control risk based on adopted methodology, measuring and mitigating relevant aspects of operational risks to support ensuring that all departments/divisions/ICOs operate within IFAD’s Internal Control Framework which should be created and implemented including early-warning assessments of problems to safeguard IFAD’s reputation and minimize losses.  Support preparation, running and analysis of periodic reports on relevant aspects of operational risks and internal controls and methodologies.
  • Support management of internal controls to help transformation of IFAD into a fully-fledged IFI and support to a credit rating working closely, as assigned, with other FOD Divisions/Units and other IFAD stakeholders.
  • Contribute to enhancing the IFAD wide internal control and risk culture.
  • Support research and as required and assigned, contribute to liaising with counterparts at other institutions, particularly MDB’s/IFIs and UN Partner agencies, to exchange ideas on internal control and operational risk policies and methodologies, and support senior officers as required and assigned in explaining internal control policies to the financial community as well as other stakeholders.
  • Support cooperation with relevant Divisions on comprehensive quarterly, semi-annual and/or annual portfolio/Controller’s Scorecard/reports to the stakeholders highlighting key shifts, trends and migrations and other weaknesses in terms of operational risk and internal controls.
  • Contribute to cooperation with FOD and other Divisions to develop capacity building programs for different stakeholders.

FINANCE BUSINESS PARTNER: The Finance Analyst has a commitment to financial integrity by acting as a responsive and constructive service provider with a focus on results. Provides verbal and written reports/memos/documents on finance matters.

MANAGERIAL FUNCTIONS: The Finance Analyst is accountable for integrity, transparency, and equity in the personal use of assigned IFAD resources, including equipment, supplies and, as applicable, staff supervised.


Impact of Key results / Key performance indicators

Finance Analysts at this level are accountable for basic advice and guidance in regard to the Fund’s financial policies, regulations and practices and interpretation. They analyze unusual transactions and recommend actions to be taken and/or exceptions to be made in the application of financial regulations, rules and procedures. Finance Analysts are also accountable for supporting in producing various reports to legislative bodies, member governments, and others interested in the activities of the Fund. S/He supports achievement of finance programme goals and objectives through innovative program design or redesign. The work requires support to the development of new and/or modifications of existing policies, practices and techniques as well as the review of work performed by peers or at lower levels, seeking advice and taking corrective and adaptive actions.

Finance Analyst positions have access to advice and on-the-job training from specialists in the individual finance occupations in the resolution of on-going non-routine work.


Representation / Work relationships

Finance Analyst positions have access to advice and on-the-job training from specialists in the individual finance occupations in the resolution of on-going non-routine work.

They may also be delegated the authority to make commitments on routine aspects of the assignment


Competencies

Organizational

  • Demonstrating Leadership: Personal leadership and attitude to change (Level 1)
  • Learning, sharing knowledge and innovating: Continuously seeks to learn, shares knowledge and innovates (Level 1)
  • Focusing on clients: Focuses on clients (Level 1)
  • Problem solving and decision making: Demonstrates sound problem solving and decision making ability (Level 1)
  • Managing time, resources and information: Manages own time, information and resources effectively (Level 1)
  • Team Work: Contributes effectively to the team (Level 1)
  • Communicating and negotiating: Communicates effectively: creates understanding between self and others (Level 1)
  • Building relationships and partnerships: Builds and maintains effective working relationships (Level 1)

Technical/Functional

  • Knowledge and some experience in Control, Accounting and Reporting Ability to provide basic technical and administrative support which in turn helps to develop clear goals that are consistent with agreed strategies.
  • Analytical and organizational skills.
  • Ability to communicate effectively in a diverse organization. 
  • Use of new and innovative information technology systems and tools.

Minimum recruitment qualifications

Education:

  • Advanced university Degree or  its  equivalent in  Accounting, Business Administration, Finance, Banking and other relevant areas.Professional qualification such as a CPA, Chartered Accountant, CIPFA designation or equivalent from an internationally recognised Institute of Accountancy is highly desirable. In lieu of this requirement, registration in the    IFAD    Corporate    Finance    Qualification    Programme    or    any internationally recognized  accounting  certification  programme  is  highly desirable. Completion of relevant Certificate level is required within 1.5 years from the date of the selection for job.

Experience:  

  • Some prior relevant professional experience is required. Experience working in international IFIs or financial services industry particularly in controls is desirable.

Language requirements:  

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

Other information

Applicants should note that IFAD staff members are international civil servants subject to the authority of the President of IFAD, and they may be assigned by him/her to any of the activities of IFAD, including field assignments and/or rotation within IFAD.

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

Candidates may be required to take a written test and to deliver a presentation as well as participate in interviews.

IFAD is committed to achieving diversity and is seeking a balanced workforce from its Member States. Women are particularly encouraged to apply.


We do our best to provide you the most accurate info, but closing dates may be wrong on our site. Please check on the recruiting organization's page for the exact info. Candidates are responsible for complying with deadlines and are encouraged to submit applications well ahead.
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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