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Finance Analyst (Control's Officer)

Italy

  • Organization: IFAD - International Fund for Agricultural Development
  • Location: Italy
  • Grade: Junior level - P-2, International Professional - Internationally recruited position
  • Occupational Groups:
    • Operations and Administrations
    • Banking and Finance
  • Closing Date: Closed

Organizational Setting

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. 

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 Controller’s Division (FCD) enhances financial control and financial resources management in IFAD through corporate and donor financial reporting, external audit and clean audit opinions, provision of payroll, payments, loan and grant cash disbursements globally, data integrity/protection, controllership and financial crime compliance.   

The FCD Controllership Unit ensures compliance with IFAD's Internal Control Framework (ICF), maps key business processes, conducts controllership questionnaires on business processes, monitors effectiveness, and provides a Controller's Scorecard that measures key control indicators using technology solutions and digital tools. The Unit promotes a culture of internal control awareness balancing efficiency of business objectives and control measures.

The position is located in FCD’s Controllership Unit and the incumbent works under the direct supervision of the Senior Finance Specialist (Lead Officer Controllership).

Job Role

The Finance Analyst (Control’s Officer) 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. This position serves to effect IFAD's financial architecture evolution and protect IFAD in its enhanced decentralization. Transforming FOD/FCD's functions to fully automated processes will enhance internal controls and support client service delivery to our decentralized offices. 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.

Key Functions and Results

1.POLICY DEVELOPMENT AND IMPLEMENTATION SUPPORT: The Finance Analyst supports services in the  area of policy development and implementation support, as follows: 

  • Contribute to the development and implementation of the Unit Charter, Internal Control Framework for operations including taxonomy and risk appetite for business process execution that will be used as a key framework document of internal controls per COSO;
  • Contribute to the development of policies on controls relating to compliance as required and assigned;
  • Participate in the development and implementation of procedures as required and assigned for controls due diligence, in consultation with key stakeholders;
  • Contribute and provide advice on 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;
  • Contribute and provide advice on implementation of review and monitoring relevant Key Risk Indicators (KRIs) for the area concerned;
  • Participate in the development and use of a Reporting mechanism for control issues and sanctions linked to the various dashboards;
  • Provide implementation of training and awareness as well as control champions;
  • Participate in the development of a Reporting mechanism for control issues, linked to the various dashboards.

2. FINANCIAL RESOURCES MANAGEMENT: The Finance Analyst supports financial resources management support services, as follows:

  • Contribute and provide advice on all matters concerning Internal Control including per COSO;
  • Provide guidance to support decision making in identifying, assigning internal control risk based on adopted methodology, measuring and mitigating relevant aspects of operational risks to ensure 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, supervise the design, analysis and preparation of periodic reports on relevant aspects of operational risks and internal controls and methodologies;
  • Provide technical advice in operational risk management and support management of internal controls to inform transformation of IFAD into a fully-fledged IFI and support to a credit rating;
  • Provide advice to the Senior Finance Specialist (Lead Officer Controllership) on various IFAD-wide issues such as operational risk strategy, internal controls in accordance with COSO, and mitigation, operational risk mitigation measures/instruments, guidelines and models, working closely, as assigned, with other FOD Divisions/Units and other IFAD stakeholders;
  • Support the Division and Senior Finance Specialist (Lead Officer Controllership) in reforms, development, planning, implementation and supervision of the FCD Controllership Unit’s goals, control assessment and support missions, strategies and policies to ensure sound financial resources management in IFAD's operations and compliance with IFAD's strategy and policies;
  • Ensure the technical competency, professionalism and high ethical standards for all internal control staff members and contribute to enhance the IFAD wide internal control culture;
  • Support and as required and assigned, liaise with counterparts at other institutions, particularly MDB’s/IFIs and UN Partner agencies, to exchange ideas on internal control policies and methodologies, and support/provide advice in explaining internal control policies to the financial community as well as other stakeholders including rating agencies;
  • Support the Division and Senior Finance Specialist (Lead Officer Controllership), cooperate 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;
  • Maintain contacts with functional counterparts in other financial institutions, including multilateral organizations, commercial banks, and fund management companies to support the FCD Controllership Unit to obtain best practices on internal control management policies, guidelines, processes and methodologies;
  • Support achievement of Unit and Divisional Objectives. Work closely with other Unit and Team members to provide training as needed, cooperation with FOD and other Divisions to develop capacity building programs for different stakeholders;
  • Support other initiatives/projects/tasks in the Division as assigned.

3. FINANCE BUSINESS PARTNER: The Finance Analyst (Control’s Officer) is a credible, trusted partner to stakeholders. S/He supports the Fund’s finance strategy and plans as well as has a commitment to financial integrity by acting as a responsive and constructive service provider with a focus on results. Provides strong verbal and written reports/memos/documents/guidance on finance regulations, rules and procedures, contribute to facilitating a mutual understanding of roles and corporate fiduciary accountabilities in direct support of integrity in the management of the Fund’s financial resources.

4. AGENT OF CHANGE: The Finance Analyst (Control’s Officer) understands and contributes to applying the principles of change management and serves as an advocate for transformation and capacity for acceptance of change. S/He uses knowledge of results based management and budgeting, enterprise resource planning (ERP) and other information technology. The Finance Analyst contributes to managing change through advice, consultations with inter-organizational and internal finance colleagues, and outreach to client offices to build understanding of and to ensure open and regular communications pertaining to current and planned changes in the Unit/Division/Department/Fund’s financial standards, regulations and rules. S/He is accountable for integrity, transparency in the use of IFAD resources. S/He works closely with the unit’s staff to ensure the achievement of divisional objectives including People Management through work plan development, recruitment, performance and career management, basic conflict resolution of staff assigned to the Unit as well as contributing to learning management. S/He also contributes to mentoring teams and individuals.

5. 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.

Key Performance Indicators

Finance Analysts at this level are accountable for advice and guidance in regard to the Fund’s financial policies, regulations and practices and interpretation to resolve cases. They make recommendations to the Senior Finance Specialist (Lead Officer Controllership) on standard questions of financial policy and procedures, including those that may be the subject of inter-organizational consultations. Finance Analysts are also accountable for contributing to ensure the accuracy of a complete, complex financial operation identified by the variety and number of funding sources, diversity of currencies, and the requirement for producing various reports to legislative bodies, member governments, and others interested in the activities of the Fund. S/He contributes to the achievement of finance programme goals and objectives through innovative program design or redesign.  The work requires contribution 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.

The key performance indicators for Finance Analysts at this level includes contributing to both technical and the team.

Working Relationships

Internally Finance Analysts contribute as technical advisers to the Fund’s managers, other budget holders and staff in their area of assignment. Contacts are in various areas of the organization and include Country Office staff, internal auditors, among others. 
Externally, work relationships require contribute to collaboration and coordination to ensure the effective implementation of financial rules and procedures, with particular reference to the use of donor funding through contacts with Borrowers and Contributing institutions.

Job Profile Requirements

Organizational Competencies:

Level 1:

  • Building relationships and partnerships - Builds and maintains effective working relationships
  • Communicating and negotiating - Communicates effectively; creates understanding between self and others
  • Demonstrating leadership - Personal leadership and attitude to change
  • Focusing on clients - Focuses on clients
  • Learning, sharing knowledge and innovating - Continuously seeks to learn, shares knowledge & innovates
  • Managing performance and developing staff -
  • Managing time, resources and information - Manages own time, information and resources effectively
  • Problem-solving and decision-making - Demonstrates sound problem-solving and decision-making ability
  • Strategic thinking and organizational development - Personal influence
  • Team working - Contributes effectively to the team

Education:

  • Advanced university degree (Master or equivalent) - Accounting, Business & Finance. In lieu of an advanced degree, a first level degree in combination with an additional four (4) years of qualifying experience, over and above the minimum requirement, may be accepted.

Experience:

  • At least two (2) years of professional experience, preferably in international IFIs or financial services industry, particularly in risk and controls.
  • Position-specific experience:  Experience in successfully managing projects/programmes using project management methodology.

Certifications:

  • Professional qualification such as CPA, Chartered Accountant, CIPFA designation or related equivalent qualification is mandatory.

Languages:

  • Required English (4 – Excellent)
  • Desirable: French, Spanish, or Arabic (3 – Working Knowledge)

Skills:

  • Procedure adherence: Ability to strictly adhere to established, formal guidelines, including in new situations
  • Procedure interpretation: Ability to interpret established, formal guidelines to address and recommend solutions or further actions required
  • Disbursements, Payroll and Payments: Know-how in financial checks required for disbursements of loans and grants, payments and payroll transactions to reduce risk of error, fraud and non-compliance with rules, maintenance of clean vendor master files, arrears and debt management of loans
  • Financial data integrity and financial systems: know-how in systems interface control, core banking system management, data mining and analytics
  • Financial reporting & accounting: Know-how in financial reporting, statutory and other reporting as well as advanced application of IFRS standards, derivatives, loan credit risk, financial regulations, policies, rules and procedures applicable to IFAD and IFIs
  • Risk & compliance: Know-how in asset liability management, risk reporting, capital adequacy, quality assurance and compliance (e.g. Anti-money laundering (AML), Know your customer (KYC) processes), etc.
  • Analytical skills: Outstanding ability to analyse and synthesize qualitative and/or quantitative information from a variety of sources and filter out key insights and recommendations
  • Basic ICT & digital fluency: High level of digital literacy and ability to quickly get familiar with new digital tools (e.g. ability to carry out EPR data entry and extraction when budgeting; monitoring security systems, uploading content to inter/intra-net websites, etc.)
  • Client orientation: Strong critical thinking combined with communication skills to liaise between the business and technologies to understand business problems and needs, document requirements and identify solutions
  • Problem solving: Strong systemic and structured thinking, ability to identify and dissect problems into components and formulate a comprehensive set of creative viable and sustainable solutions and strategies

Other Information

Applicants should note that IFAD staff members are international civil servants subject to the authority of the President of IFAD. In accordance with IFAD's Human Resources Policy, staff members are subject to the authority of the President who can decide to assign them to any of the activities of the Fund. All International Professional staff members are required to be geographically mobile and positions in the professional category are subject to changes in location at any time in line with strategic priorities and reform initiatives in 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.

This vacancy is now closed.
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