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Finance Analyst (Disbursement)

Rome (Italy)

  • Organization: IFAD - International Fund for Agricultural Development
  • Location: Rome (Italy)
  • Grade: P-2, International Professional - Internationally recruited position - Junior level
  • Occupational Groups:
    • Banking and Finance
    • Operations and Administrations
    • Cash-Based Interventions
  • Closing Date: 2021-02-05

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Vacancy Announcement Number 1978
Date of Issue 08/01/2021
Deadline for Applications 05/02/2021
Organizational Unit Financial Controller's Div.
Level P-2
Duty Station ROME
Duration of Assignment 2 years FT subject to renewal

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

Finance Analysts typically work with a higher level Finance Specialist in monitoring financial performance and preparing and evaluating financial reports; s/he may alternatively supervise a homogeneous portion of a financial operation which is predominantly process oriented. The accountabilities/key results include:

  • Finance Business Partner
  • Finance Resources Management 
  • Agent of Change
  • Managerial Functions

With the FCD mission of enabling and protecting IFAD, Finance Analyst work under the overall strategic, policy and management guidance of the Controller/Director and the direct supervision of a Senior Fianance Specialist, or Finance Specialist. When tasked with supervision, they are typically supervisors of general service (GS) staff.

The Finance Analyst are required to be flexible and dynamic as they could be required to shift into different work tasks across teams/units in FCD to ensure effective use of resources considering workload peaks and troughs.


Key results expected / Major functional activities

1. FINANCE BUSINESS PARTNER: The Finance Analyst is a credible, trusted partner to the client offices served and the Department/Division/Unit where assigned. S/He supports 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 Finance Analyst provides 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  support  of  the  integrity  in  the management of the Fund’s financial resources. The Finance Analyst’s focus is on building his/her knowledge base of the Fund’s governing structure, mandate, long-term business strategy, organizational dynamics and culture.

2. FINANCIAL MANAGEMENT: At this level Finance Analysts are establishing expertise in the DFI’s financial principles, policies, regulations, rules and procedures. S/He is assigned a portion of  financial operation, such as Payroll, for headquarters staff and reviewing/approving/processing transactions where concurrent stages of clearance/processing are required. Representative activities include: (a) reviewing, analysing and projecting programme financial implications in light of additional  mandates or other programme changes; (b) contributing to the implementation of business process efficiencies to the assigned operation (c) analyzing and evaluating financial reports produced on a regular basis, explaining variances and producing reports and correspondence as required; and (d) monitoring financial performance, allotments and expenditures to ensure that they remain within authorized parameters and resolving emergent financial issues. 

Given the generic Job Descriptions, the Finance Analysts are required to be flexible and dynamic as they could be required to shift into different work tasks across teams/units in FCD to ensure effective use of resources considering workload peaks and troughs.

Occupational activities include:

  • Finance Analysts (Financial Reporting & Corporate Finance) contribute to the delivery of statutory financial statements (IFAD, ILC, etc) per IFRS standards, Donor Reports, other statutory reports including Borrowing, financial ratios, and financial closures. They are accountable for contributing to corporate finance and corporate fiduciary services including Contributions management and accounting (e.g. Replenishments), bank reconciliations as well as the financial accounting and reporting of fixed assets, loans and grants, investments and travel, Budget and financial services for Supplementary Funds and hosted entities, EC Verifications support, reconciliations, and financial services to Implementing Partners. The Finance Analysts are accountable for maintaining data integrity and interface control of key corporate financial systems such as IFAD’s core banking system and Oracle-PeopleSoft Financials, as the business owner and user of the IFAD Client Portal, and coordinate financial system innovation/data integrity and transparency. Finance Analysts are also accountable for debt servicing activities.
  • Finance Analysts (Disbursements –loans and grants, payroll and payments) are accountable for the Financial review and approval of all IFAD loans and grants (including banking information, fraud checks and reviews for sanctions screening and financial crime checks) for the full range of loans and grants portfolio(s), ensuring improved results of the financial resources management of IFAD projects and Programme in addition to loan and arrears/debt management. They are accountable for coordinating the response on queries from operations by reviewing and upon satisfactory review, processing payroll across IFAD and provide support as business owner of all payments (i.e. Consultants, Suppliers, other partners), and ICO support for advances.
  • Finance Analysts (Controllership) as IFAD established a Controllership function, the Finance Analysts are accountable for coordinating/implementing the minimum level of internal controls across material business processes in IFAD to oversee compliance with the Delegation of Authority (DOA) and to support protecting IFAD’s audit opinion. The Analysts support guardianship of the Internal Control Framework (ICF), and along with the ICF Implementation Guidance, set out the best practice standards of segregation of duties, access rights etc. as well as assess control risk through Control Self Assessments (CSAs). The Analysts review internal controls in processes for inclusion in the Controller’s Scorecard, which reports on the financial health of an ICO/HQ Unit. They support developing tools to be provided to ICO/HQ units to better understand the minimum control requirements for business processes, action weaknesses in internal controls and improve monitoring.
  • Finance Analysts (3rd Party Integrity Due Diligence (IDD)) as established on IFAD’s policy on Anti- money laundering (ML) and countering Terrorism Financing (TF), are responsible for implementing/support developing the procedures to combat ML and TF. They are responsible for coordinating/ implementing a systematic method of sanctions screening and assessing for ML and TF through a system solution in order to perform ongoing monitoring and reporting to stakeholders.

3. AGENT OF CHANGE: The Finance Analyst maintains an awareness of the principles of change management and proactively serves as a role model for transformation and capacity for acceptance of change. S/He uses a knowledge of results based management and budgeting, enterprise resource planning (ERP) and other information technology to analyze and promote acceptance of new methods of work and automated work flows. At this level the Analyst manages change through consultations with finance colleagues and outreach to client offices to ensure open and regular communications pertaining to current and planned changes in the Fund’s financial administration.

4. MANAGERIAL FUNCTIONS: 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

Financial Analysts analyse unusual transactions and recommends actions to be taken and/or exceptions to be made in the application of financial regulations, rules and procedures. Financial Analysts execute effective accounting operations  where  methodology is  established or  accounting problems have  precedents, are accountable for the correctness of authorizations or computations within a group of accounts and propose improvements in reporting systems of subsidiary ledgers or other elements of a group of accounts.  Financial Analysts in charge of investment management operations implement investment transactions with an impact on the Fund’s investment income, through the quality of trade recommendations and trade execution, and on the financial and operational risks through adherence to internal controls and procedures. 

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

The work relationships of Finance Analysts involves both written and verbal communications to obtain and provide information regarding decisions on specific cases or to explain why an action has been taken or to obtain information needed to take decisions or support further financial processes. Internal Fund contacts extend to supervisors and staff throughout the Fund to promote understanding of finance regulations, rules and/or procedures pertaining mainly to routine finance matters within his/her area of assignment. This requires skill in building constructive, effective relationships. External contacts are predominantly  with banks, institutions or suppliers/vendors, Borrowers and Cooperating institutions, etc. and are for the purpose of exchanging information and making commitments within predetermined parameters.


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: Contributes to a client-focused culture (Level 2)
  • 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

  • Sound knowledge of the principles and concepts of financial management including accounting, financial instruments, industry practices and IFRS.
  • Ability to provide accounting/finance advice while considering the organizational needs, such as IFAD's evolving business model.
  • Ability to identify issues, formulate opinions and make conclusions and recommendations.
  • Analytical and organizational skills.
  • Review and benchmark current practices against industry (UN/IFIs) best practices and enhance processes are appropriate.
  • Ability to identify risks across significant business processes and support staff in the implementation of internal controls and monitoring practices.
  • Demonstrated ability to communicate effectively in a diverse organization tailoring language, tone, style and format to match audience.
  • Excellent knowledge of PeopleSoft ERP, Bloomberg (or other financial information systems) and other information technology systems and tools.
  • Ability to identify through own tasks or concerns raised by staff direct reports reoccurring issues and/or challenges related to PeopleSoft and collaborate with ICT to propose solutions.
  • Ability to empathize with client managers, supervisors and staff while maintaining the integrity of financial resources, implementing internal controls and ensuring consistent and accountable application of promulgated financial regulations and rules.

Minimum recruitment qualifications

Education:

  • Advanced university degree from an accredited institution in accounting, finance, business administration or other job related field. The advanced university degree may be substituted by a first university degree (Bachelor or equivalent) in the above-mentioned subjects plus at least four additional years of relevant professional experience, over and above the minimum number of years of experience outlined below.
  • Professional qualification such as a CPA, Chartered Accountant, CIPFA designation or equivalent from an internationally recognized Institute of Accountancy, is required

Experience:

  • At least two (2) years of professional experience in finance or related field, in a multi-cultural organization or national organization providing support on a global scope. Demonstrable advanced analytical/excel skills and attention to detail required. Experience/knowledge of IFRS or similar international standards is highly desirable.

Language requirements:

  • Excellent written and verbal communication skills in English. Working knowledge of another official 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 gender diversity. 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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