By continuing to browse this site, you agree to our use of cookies. Read our privacy policy

Finance Specialist (Pricing and New Products)

Italy

  • Organization: IFAD - International Fund for Agricultural Development
  • Location: Italy
  • Grade: Mid level - P-3, International Professional - Internationally recruited position
  • Occupational Groups:
    • Operations and Administrations
    • Banking and Finance
    • Sales and Marketing
  • 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 Operations Department is composed of the following three divisions: (a) Financial Controller's Division (FCD), (b) Financial Management Services Division (FMD) and (c) Treasury Services Division (TRE).

The Treasury Services Division (TRE) mandate is to safeguard IFAD’s resources through liquidity planning, borrowing, management of investments and cash operations with the aim to preserve capital and maximize returns within the provisions of IFAD’s Financial Regulations; formulate and implement investment and cash operations strategies and policies; ensure prompt availability of cash for IFAD operations through prudent liquidity and borrowing planning; oversee the integrity of the Fund’s daily investment and cash operations in line with corporate risk management standards and manage the investments and cash of extra budgetary funds, hosted entities and trust funds; as well as manage IFAD’s borrowing programme.

Within the Division, the Funding and New Products Unit (“Funding Unit”) is the specialized unit to implement IFAD’s borrowing strategy by ensuring full implementation of the Integrated Borrowing Framework. The unit is also responsible for IFAD’s loan pricing and enhancements thereof, as well as working across institutional boundaries to develop new financial products to broaden the choice for IFAD’s borrowers.  

The incumbent will work under the overall strategic, policy and management guidance of the Director and Treasurer, and direct supervision/guidance of a Senior Treasury Officer. The incumbent will be committed to the delivery of assigned objectives and activities and keep abreast of related industry developments and skills required to respond to the divisional work plan and results.

Job Role

The incumbent is a 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 main responsibility of the incumbent is the production of IFAD’s loan pricing, including the development of IFAD’s methodology, and the development of technical proposals for the introduction of new financial products to broaden IFAD’s delivery. The incumbent will also represent the Treasury Division on funding-related matters at internal and external meetings to ensure the establishment of IFAD as an issuer name and TRE’s visibility within the organization. 

Key Functions and Results

1.FINANCE BUSINESS PARTNER: The incumbent is a credible, trusted partner to 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 incumbent provides seasoned 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 direct support of integrity in the management of the Fund’s financial resources. 

2. TREASURY MANAGEMENT: The incumbent 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, and with knowledge of pillars of financial market drivers and financial risks.

3. AGENT OF CHANGE: The incumbent 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. The incumbent 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 incumbent 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.

Under the leadership of a Senior Finance Officer, the incumbent works jointly with other areas of TRE and other divisions in the Financial Opearations Departement, in particular the Financial Management Division and the Financial Controllers Division, as well as the Risk Management Office (RMO) to develop financial policies related to loan pricing and new financial porducts development. The incumbent is accountable for:

  • Analyzing product offer by IFAD and other IFIs and make evidence-based proposals of new financial products which could support IFAD’s mission, by assessing financial and system implications of such proposals.
  • Calculating and publishing IFAD’s loan pricign based on current methodology.
  • Developing IFAD’s own pricing methodology based on transfer pricing.
  • Developing technical proposals related to new products and financial solutions to be offered to IFAD’s borrowers (e.g. guarnatees, local currency lending).
  • Updating analyses on IFAD’s current and projected funding cost under various scenarios.
  • Keeping abreast of new products developed in other IFIs to assess relevance for IFAD.
  • Leading IFAD’s Libor Transition Working Group jointly with RMO.
  • Preparing relevant documentation to support discussions with IFAD management and stakeholders (internal finance/risk committee, Audit Committee, Executive Board and technical seminars).
  • Representing the Funding team at internal and external meetings and conferences as required.

Key Performance Indicators

The incumbent is 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 her/his 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 incumbent 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 the incumbent 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.

The incumbent will be expected to work independently, show initiative, problem solvig attitute, ability to syntetize complex matters in a clear manner, respect deadlines and proactively signal arising issues. 

Working Relationships

The incumbent may represent the unit to which assigned on related matters at internal and external meetings and conferences as requested by the supervisor. Internally the incumbent is 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 Specialists to provide their feedback on the policies and procedures improvement process.  Contacts are with finance, budget, loans and grants, treasury, audit, risk management, legal and programme management staff in country offices and Headquarters. External work relationships for the incumbent normally require an exchange of information with a range of outside sources including banking counternparts, peers from other Multilateral Development Institutions, external advisors and financial service providers, lenders and investors. 

The incumbent will work closely with IFAD’s Financial Operations Department at large, especially the Financial Controller’s Division and the Financial Management Division to assess all operational and accountign implications of new products to be proposed. He/She will be IFAD’s representative in all external working groups of peer IFIs pertaining to this role.  

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:

  • Level - Advanced university degree from an accredited institution in a technically relevant area.
  • Areas - economics, finance or other job related field. 
  • 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.
  • Degree must be an accredited institution listed on https://www.whed.net/home.php.

Experience:

  • At least five years of progressively relevant professional experience in a similar position in capital markets area.
  • Three years preferably in an international financial institution, or another multi-cultural organization or a national organization providing support on a global scope.
  • In-depth knowledge of transfer pricing methodologies.
  • Good knowledge of business and financial model of peer IFIs.
  • Advanced use of excel. 

Languages:

  • Required: English (4 - Excellent).
  • Desirable: French, Spanish, or Arabic (3 - Good).

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
  • Capital market instruments: Knowledge of capital markets instruments (fixed income, derivatives, loans), risk and performance metrics and quantitative tools of fixed income valuation (cash flow, present value, interest rate risk, duration, etc.)
  • 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
  • Finance & Impact Investments: Expertise in international development finance, derivatives, debt capital markets, impact investing, blended finance, general treasury issues (e.g. correspondent banking and custody accounts), and including regulatory developments ¿ Basel Principles, EMIR, Dodd Frank and the AIFMD
  • Risk management (e.g. reputational): Know-how in identifying and assessing of potential legal, reputational, ethical risks and liabilities in relation to the Fund's activities; contributing strongly to the division as second line of defence function; demonstrating ability to manage these risks by advising senior management on contingency and mitigation strategies.
  • 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.)
  • Interpersonal skills: Ability to deal patiently and tactfully with others (e.g. visitors, clients, callers, etc.), including senior individuals (e.g. high-level meeting participants)
  • 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
  • Synthesis: Outstanding ability to synthesize and simplify complex technical information for a variety of (non-technical) audiences

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.
However, we have found similar vacancies for you: