Finance Specialist (Third Party Due Diligence)

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 and 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.  

Financial Crime (Third Party IDD) Unit supports the Fund’s reputation and provides comfort to its donors/stakeholders by ensuring compliance with IFAD's Anti-Money Laundering and Countering the Financing of Terrorism (ML/TF) Policy.  Using industry best practice due diligence and sanction screening tools/systems, the Third Party UDD Unit conducts risk-based integrity due diligence checks and sanctions screening to mitigate ML/TF risks and safeguard IFAD's assets.

The Finance Specialist (Third Party Integrity Due Diligence) is located in the FCD and the incumbent works under the direct supervison of the the Senior Finance Specialist (IFRS & Lead Officer Third Party IDD), FCD.

The incumbent works in the FCD Financial Crime Unit to implement the Third Party Integrity Due Diligence (IDD) Risks mitigation at IFAD on all resource streams including Supplementary Funds, as well as supporting the set up and implementation of system and reporting and ensuring their maintenance. In addition, it includes providing innovation and support to the Controller and Director in automation/digitisation of the concerned activities/processes. The key functions of the incumbent effects the transformation of IFAD's financial architecture and protect IFAD's integrity in its enhanced decentralisation. Transforming FOD/FCD's functions to fully automated processes will enhance internal controls in this area and support client service delivery to our decentralised offices and hubs. Supporting innovation and monitoring of Hosted Entities including third party integrity aspects relating to IFAD’s Supplementary Funds (including APO’s and Complimentary Contributions), validating for effective planning, management and supervision of functions carried out in these areas.

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 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. S/He also contributes to the development, improvement and dissemination of technical policies and procedures as required.

2. FINANCIAL RESOURCES MANAGEMENT AND CORPORATE POLICY AND STRATEGY :The incumbent is an experienced  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. 

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  vast 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.

Position specifics:  

5. UNIT WORK PLAN EXECUTION: The incumbent implements the Unit’s activities and priorities set forth aligned to the strategic development and work plan for the Division. S/He performs tasks and lead projects within the work plans for the unit in line with best practice and prevailing institutional, departmental and divisional strategic priorities

6. POLICY UPDATE AND ADVICE:

• Update and maintain the IFAD Anti-Money Laundering (AML), Combat Terrorist Financing (CTF) Policy and related areas including taxonomy and risk appetite that will be used as a key framework document of internal controls and serve to mitigate the third party integrity risk at IFAD. Develop and update as required the Unit’s Charter;  
• Provide technical expertise, high quality Third Party IDD standards, management start-up activities and transformation plan;
• Develope procedures for due diligence on AML, CTF, Sanctions Screening and related areas in consultation with key stakeholders;
• Be an expert in and use the new Financial Crime software solution and develop a system repository, system tools/modules to implement the above applications/software and links to best practice use databases that other IFIs use;
• Coordinate with other FCD’s units and other Department/Divisions/Units/IFAD Offices within IFAD (e.g. ICT, LEG, ETH, AUO, RMO, OPV) on Third Party IDD matters to ensure resolution incorporating advice/elements from other relevant areas
• Coordinate and lead the implementation of concerned processes and control automation and robotics (RPA) as well as Artificial Intelligence (AI) in due diligence/screening processes;
• Support in implementing review and monitoring Key Risk Indicators (KRIs) in consultation with other FCD Units (e.g. Controllership and Financial Reporting), FOD (internal controls management) and other Departments both at HQ andIFAD Offices; 
• Develop reporting mechanism for incidents, sanctions linked to the corporate risk dashboard;
• Prepare and deliver training and awareness as well as engage risk champions in third party integrity risk training programme. 

7. FINANCIAL RESOURCES MANAGEMENT: 

• Manage due diligence (identification, periodic and on-spot assessment and mitigation) and prepare educational and training programs for the concerned business units on Third Party IDD (AML, CTF, sanctions and related items) to ensure that all Departments/Divisions/Units/IFAD Offices operate within IFAD's AML and CTF Policy;
• Conduct analysis and provide responses to all Third Party IDD/sanctions inquiries received from external counterparts (e.g., international/regional financial institutions, foundations, member countries/governments, public entities, NGOs, etc.);
• Undertake background checks and due diligence of all the companies, suppliers, partners and other third party vendors, donors, NGOs, and any other third party associated with IFAD operations and transactions including NSO/Private sector entities.
• Provide advice and recommendations to the Controller & Director on various IFAD-wide issues such as AML, CTF and related area policies, internal controls, mitigation measures/instruments, guidelines and models, data and system architectures and automation, working closely with other concerned Departments/Divisions/Units/Field Offices;
• Develop and deliver Third Party IDD reporting metrics and mechanisms for the relevant Risk Management Committees and Senior Management to ensure successful implementation of related policies and procedures;
• Coordinate with relevant Divisions on comprehensive quarterly, semi-annual and/or annual report to the stakeholders highlighting key trends and other weaknesses of related policies and procedures that should be brought to the attention of the Controller and Director,  and Senior Management;
• Maintain technical competency, professionalism and high ethical standards within the team and contribute to enhance the IFAD-wide Third Party IDD and compliance culture.

8. FINANCE BUSINESS PARTNER:  Key team player and member of the Third Party IDD area, who is a credible, trusted partner to stakeholders. Provides verbal and written advice to the Controller and Director on finance regulations, rules and procedures, facilitating a mutual understanding of roles and corporate fiduciary accountabilities in direct support of integrity in the management of the Fund’s financial resources.S/He might supervise the work of junior unit’s staff to ensure the achievement of divisional objectives. S/He keeps abreast of the emerging services, rules and regulations, trends, gaps in the current practices, best practices, and manage development and implementation of effective remedial actions. S/He supervises production of knowledge products and knowledge dissemination activities on the AML/CTF/SS and related policies and practices. 
 

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.

Position specific:

The incumbent is accountable, under the Senior Finance Specialist’s direction, for producing various reports to legislative bodies, member governments, and others interested in the activities of the Fund. S/He contributes to achieve finance programme goals and objectives through innovative program implementation.  The work requires the preparation of new and/or modifications of existing policies, practices and techniques. The key performance indicators include both technical and behavioural results.
 

The incumbent may represent the Division or the IDD Unit 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 Financial Management Specialist 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 the incumbent 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.

Position specific:

The incumbent understands and contributes in applying the principles of change management and proactively serves as a role model for transformation and capacity for acceptance of change. S/He contributes to change, working with the manager in consulting inter-organizational and internal finance colleagues, IFAD Senior Management and outreaching client offices 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. S/He might supervise the work of junior unit’s staff to ensure the achievement of divisional objectives. Internally, the incumbent is the Fund's technical expert. Contacts extend throughout the organization and include IFAD Offices’ staff, internal audit officers, and evaluation officers. Externally, work relationships, if and when required by the Controller and Director or the direct supervisor, need 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. 

Organizational Competencies - Level 1

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

Education: 

• Level - Advanced university degree from an accredited institution listed on https://www.whed.net/home.php in a job related field (*):  
• Areas - accounting, finance, business administration or other job related field

(*) Note:  For internal candidates, this requirement will be assessed in line with the provisions set forth in the IFAD’s Human Resources Implementing Procedures. 

Certifications:

• CPA, Qualifications of Certified Anti-Money Laundering Specialist, or Certified Fraud Examiner or related qualifications will have a distinct advantage.

Work experience: 

• At least five years of progressively responsible professional experience, including work in international IFIs or financial services industry particularly in risk and compliance/integrity due diligence/integrity risk. 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 above.
• Three years preferably in the United Nations or an international financial institution, or another multi-cultural organization or institution or a national organization providing support on a global scope.
• Position-specific experience: Experience in successfully managing projects/programmes using best practice project management methodology.

Languages: 

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

Skills: 
Job role specific 

• 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)
• Digital Finance, FinTech and related, Know-how in FinTech applications, robotic process automation, block chain and digital finance applications to design, setup, implement and report
• Financial crime, Know-how in 3rd party integrity due diligence, KYC, AML, CTF, PEPs, Anti-fraud/corruption and related area compliance standards, practices and application of industry standard tools and monitoring including professional judgment
• Controllership, Know-how in internal controls and operational risk design, setup, mapping, and monitoring including policies and tools development
• Adaptability, Adaptability and flexibility when facing new or unexpected situations, and to specific constraints and circumstances and managing complex processes
• Corporate approach, Ability to bring in corporate vision and priorities into one's area of work (e.g. budgeting going beyond simple budgetary considerations, taking into account strategic priorities)
• 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
• 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
• 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.

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, the President 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

IFAD is an Equal Opportunity Employer and does not discriminate on the basis of ethnic, social or political background, colour, nationality, religion, age, gender, disability, marital status, family size or sexual orientation.

Please be aware of fraudulent job offers. IFAD does not charge any fees at any stage of the recruitment process. Official communication from IFAD will always come from e-mails ending in @ifad.org