Senior Finance Officer

The position is located in the Accounts Section (COMPT) of the Treasury and Accounts Branch (TREASURY) of the Financial Services Department (FINANCE). TREASURY provides policy guidance and services in the areas of accounting and treasury having primary responsibility for the production of the annual audited consolidated ILO Financial Statements in accordance with International Public Sector Accounting Standards (IPSAS) as well as other statutory reports. It also aims at developing effective treasury office-wide and investment management policies. COMPT provides general accounting services including maintenance of accurate, complete and reliable accounts for all funds managed by the ILO in accordance with ILO Financial Rules and Regulations. 

The position will be responsible for the entire IPSAS financial reporting process of the ILO. The incumbent will also oversee the accounting and reporting of ILO’s financial instruments and implement improved automated systems and procedures to enhance the operational efficiency of the financial reporting and account reconciliation processes. 

The position will report to the Section Chief.

1. Lead the Section’s financial reporting and analysis in cooperation with the Section Chief. Plan and draft the ILO annual financial report and audited consolidated financial statements in accordance with IPSAS. Prepare quarterly management reports on the Office’s financial performance and financial position by fund and accounts as per IPSAS and budgetary basis. 
2. Oversee the accounting and reporting of ILO’s financial instruments including the correct classification, recognition and measurement of investments, bank / UNDP accounts, borrowings and derivatives. Ensure the accuracy of general ledger accounts through adequate monitoring procedures.
3.  Build and refine models to monitor and report the Office’s currency risk and ILO’s exchange equalization account (EEA) in line with ILO’s financial rules and regulations. Provide regular reporting to the Chief of Treasury on the position of the EEA. Supervise the analysis of realized and unrealized exchange gains and losses. 
4. Implement and maintain improved automated financial systems, electronic workflows, reports and procedures to enhance operational efficiency of the entire financial reporting process as well as the Organization-wide bank reconciliation process. Implement and maintain a dashboard to facilitate the monitoring of critical account balances. 
5. Perform risk assessment of financial closure in cooperation with the Section Chief to mitigate any risks. Strengthen internal controls over the financial reporting and the Organization-wide bank reconciliation process to assure financial statement reliability and prevention of fraud in line with the Organization’s zero tolerance policy.
6. Act as a focal point for the External Auditors during their interim and final audits through effective planning and coordination with involved parties. 
7. Oversee the implementation of new IPSAS and the maintenance and conformity of accounting policies with IPSAS, ensuring that the corresponding data and disclosures are appropriately reflected in the ILO Consolidated Financial Statements. Analyse and assess the impact of new IPSAS or change in IPSAS to ILO processes and accounts. Liaise with the External Auditors on the subject matters, as required
8. Research and resolve complex accounting issues including evaluation and implementation of new accounting pronouncements to ensure IPSAS compliance. Elaborate and draft accounting policies / Internal Governance Documents System (IGDS), procedures and training materials on the use of specific funds and accounts in compliance with IPSAS and Financial Rules and Regulations.
9. Perform other relevant duties as assigned.

These specific duties are aligned with the relevant ILO generic job description, which includes the following generic duties:

1. Supervise the analysis of accounts with a view to proposing solutions; review regular financial reports; provide material for the organization's financial reports; prepare and approve financial and analytical reports and draft correspondence.
2. Provide authoritative advice and guidance in regard to the organization’s financial practices relating to the area of responsibility and provide authoritative interpretation to resolve difficult and unusual cases. 
3. Manage the operation of the financial services of the area of responsibility and prepare managerial reports thereon; approve work prepared by other staff; resolve complex matters; draft circulars, manuals and training materials as necessary.
4. Make recommendations to management on questions of financial policy to facilitate decision-making, including those which may be the subject of interagency consultations.
5. Monitor the implementation of procedures to control income and expenditure; develop and implement improved automated systems and procedures. 
6. Prepare replies to internal and external audit observations relating to the assigned area of responsibility.
7. Coordinate the formulation (or formulate) of budget or financial plans, provide management with forecasts and histories of performance, and consult with managers on current and future levels of funding of activities (regular budget, development cooperation budget, fund control, general accounts).
8. Monitor the implementation of the budget; recommend reprogramming or other corrective actions, coordinate and conduct necessary consultations.
9. Elaborate or formulate financial procedures related to expenditure and control of funds; develop and implement improved automated systems and procedures, having regional or organization-wide impact.
10. Other related functions, as requested.

Advanced university degree in business administration, finance or accounting, or a first level degree supplemented by a professional accounting qualification from a recognized institution is required to manage interrelationships and interactions within the financial structure, to understand the application of financial principles and procedures and the whole structure of accounts, to ensure that the organization’s financial business conforms to internal and international norms. An internationally recognized accounting certification (CPA, ACA, ACCA, etc.) would be an advantage. 

Professional financial or accounting experience at the national level for over eight years or in an international organisation for over five years. Professional experience in the preparation or audit of complex financial statements in accordance with IPSAS or International Financial Reporting Standards (IFRS). Practical experience on the use of Enterprise Resource Planning (ERP) Systems (Oracle, SAP etc.) and relevant applications.

Excellent command of English and a working knowledge of a second official language of the Organization (French or Spanish). Knowledge of a third official language would be an advantage.

In addition to the ILO core competencies, this position requires:

Technical

Excellent accounting skills and technical knowledge of IPSAS or IFRS. Effective and experienced analytical and diagnostic skills to prepare and analyse complex financial statements involving multiple funding sources and currencies in accordance with generally accepted accounting principles and international accounting standards (i.e. IPSAS, IFRS). Ability to analyse internal and external audit reports. Ability to plan and coordinate complex projects or programmes. Ability to draft policy and procedures, Governing Body documents and other communications. Ability to present papers and positions at inter-agency meetings. Ability to use common office computer applications; demonstrated understanding of computerized accounting packages; ability to conceptualize enhancements to and renewal of such systems. 

Behavioural

Ability to motivate staff, establish team objectives, assign and supervise work and ensure that quality service/work is provided to clients. Ability to explain decisions effectively to staff at Headquarters and in the field. Ability to persuade managers and superiors of the need for proposed corrective measures. Discretion is required as work may involve dealing with confidential material and sensitive issues. Ability to work in a multicultural environment and to demonstrate gender-sensitive and non-discriminatory behaviour and attitudes.