Regional Finance Officer
|Vacancy Announcement Number||2040|
|Date of Issue||17/02/2021|
|Deadline for Applications||19/03/2021|
|Organizational Unit||Financial Management Services|
|Duration of Assignment||2 years|
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 Financial Operations Department (FOD) is a dynamic financial, strategic and responsive business partner and service provider fully supporting IFAD in developing its financial strategy and managing its financial, investments and material resources. FOD ensures that these resources are efficiently, economically and effectively used to achieve IFAD’s objectives in the long-term and deliver on its development commitments. The Financial Management Services Division (FMD) develops and oversees financial policies and project financial management practices in IFAD-funded operations, including financial reporting, audit, project liquidity management, fiduciary compliance and support. The division is responsible for IFAD’s financial management workforce including consultants.
Regional Finance Officers at this level are seasoned professionals reflecting an in-depth, broad understanding of applicable regulations, standards and methods as well as IFAD’s financial regulations, rules and transactional procedures in one or more financial occupations including accounting, budget, loans and grants, public financial management and/or treasury. The accountabilities/key results include:
- Finance Business Partner
- Financial Management
- Agent of Change
- Managerial functions
Regional Finance Officers work under the supervision of Senior Regional Finance Officers, and receive overall strategic, policy and management guidance provided by the Chief Financial Management Officer. They have dual reporting line to the Regional Division Director(s) of the projects and programmes to which s/he has an allocated portfolio for activities not linked to financial management compliance. S/he works in close collaboration with the Country Directors (CD)/Country Programme Managers (CPM), and other programme management and technical staff to ensure consistency, cohesion and synergy in the application of technical support and provision of programme development support.
Key results expected / Major functional activities
1. FINANCE BUSINESS PARTNER: The Regional Finance Officer is a credible, trusted partner to the regional client countries/offices served and the regional Department/Division/Unit where assigned. S/He supports in the field 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 that have direct field impact. The Officer provides seasoned verbal and written advice and guidance to regional supervisors and staff on finance regulations, rules and procedures, facilitating a mutual understanding of roles and fiduciary accountabilities in direct support of integrity in the management of the Fund’s financial resources. S/He also contributes to the development, improvement and dissemination of technical policies and procedures as required.
2. FINANCIAL MANAGEMENT: At this level the Regional Finance Officer is a seasoned professional with the capacity to interpret and apply a broad range of international and IFAD financial policies, rules and regulations as well as standards and techniques. Activities performed by Regional Finance Officers at this level include the full range of complex loans and grants portfolio(s) ensuring improved results of the financial management of IFAD projects and programmes. Representative occupational activities include:
- participating directly in the project activities including the preparation of financial management assessments and review of Project design documents in relation to financial management (e.g. flow of funds, financial reporting and audit);
- contributing to legal documents proposed covenants required to reflect sound FM arrangements and representing IFAD in financing agreement negotiations as part of the Country Management Team;
- monitoring financial management (FM) in-country as part of supervision or implementation support missions and financial progress monitoring of ongoing projects (e.g. FM arrangements, financial performance assessments, annual external audit reports on the project financial statements) and providing proactive financial management support and training as required and carrying out regular capacity building activities in the region;
- responsible for contracting of financial management consultants to ensure full coverage of FM activities throughout the project cycle;
- ensuring effective and accountable maintenance of related data in corporate FM systems;
- supervising other junior and support staff and non-staff (including consultants or interns) as relevant;
- coordinating financial management dialogue and actions on programmes and projects involving the Fund's operational staff, cooperating institutions, borrowers, co-financiers and projects;
- maintaining operational links with borrowers and project staff and cooperating institutions during implementation; and
- ensuring effective and accountable maintenance of related data in corporate FM systems.
3. AGENT OF CHANGE: The Regional Finance Officer understands and applies the principles of change management and proactively serves as a role model for transformation and capacity for acceptance of change. S/He uses a seasoned knowledge of results based management and budgeting, enterprise resource planning (ERP) and other information technology to develop, analyze and promote acceptance of new methods of work and automated work flows. At this level the Officer manages change through consultations with finance colleagues and outreach to internal and external stakeholders to build understanding of and to ensure open and regular communications pertaining to current and planned changes in the Fund’s financial standards, regulations and rules.
4. MANAGERIAL FUNCTIONS: The Regional Finance Officer is accountable for integrity, transparency, and equity in the personal use of assigned IFAD resources, including equipment, supplies and, as applicable, staff or consultants supervised.
Impact of Key results / Key performance indicators
Officers at this level are accountable for in-depth analysis of a variety of financial reports that reflect transactions where many different consecutive stages of operations are involved; problems involve interrelationships and interactions within the financial structure and his/her role is to ensure that the Organization's financial business conforms to regulations. Based on a thorough knowledge of finance principles, concepts and systems, the Regional Finance Officer independently performs the full range of work for a complete, homogenous financial operation or components of financial operations in support of a geographic or other organizational area. The supervisor may be consulted in the analysis of complex and/or precedent setting cases to ensure consistency in the interpretation and application of regulations and rules and to document such decisions. The work typically requires the identification of the need for changes to finance policies, as well as the authoritative interpretation and application of finance policies, rules and regulations to a broad range of complex casework.
The key performance indicators for Regional Finance Officers at this level include accurate performance of assigned finance operations, technical quality in terms of both substantive depth and adaptive relevance to client needs and customer service approach to problem resolution.
Representation / Work relationships
Regional Finance Officers may represent the unit to which assigned on related matters at internal and external meetings and conferences as requested by the supervisor.
Internally Regional Finance Officers are required to explain, clarify and implement financial plans and decisions taken or procedural changes planned to ensure accuracy, completeness and integrity of financial data and reporting. They collaborate with Senior Finance Officers to provide their feedback on the policies and procedures improvement process. Contacts are with finance, budget, loans and grants, treasury, audit and programme management staff in country offices and Headquarters. External work relationships for Officers at this level normally require an exchange of information with a range of outside sources including staff from governments, specialized agencies acting as CO, host agencies, Borrowers and Cooperating institutions, external auditors. They are also delegated authority to make commitments on routine aspects of the assignment.
- Strategic thinking and organizational development: Personal influence (Level 1)
- 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)
- Managing performance and developing staff: Manages staff and teams effectively (Level 1)
- In-depth knowledge of the principles and concepts of financial operations including sound understanding of international auditing and accounting standards and project financial management.
- Capacity to identify and analyze systemic issues, formulate options and make conclusions and recommendations to resolve same.
- Analytical and organizational skills.
- Demonstrated ability to communicate effectively in a diverse organization tailoring language, tone, style and format to match audience; ability to present corrective feedback in a considered and tactful manner to promote acceptance.
- Excellent knowledge of PeopleSoft ERP and other information technology systems and tools. Exposure to accounting software.
- 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
- Advanced university degree or its equivalent in Accounting, Business Administration, Finance, Banking and other relevant areas. The advanced university degree may be substituted by a first university degree and at least four (4) additional years of relevant professional experience over and above the minimum number of years of experience as stipulated below.
- Professional qualification of finance, economics and sustainable financing or similar professional qualification including CPA, or equivalent from an internationally recognized Institute of Accountancy is preferred.
- At least five (5) years' of progressively relevant professional experience in a similar position and/ or a finance and debt background in International Financial Institutions, audit firm, or other relevant institution.
- Excellent written and verbal communication skills in English. Working knowledge of French or Arabic is required. Working knowledge of another official language (Spanish) is desirable.
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.