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Finance Specialist

Addis Ababa

  • Organization: UNDP - United Nations Development Programme
  • Location: Addis Ababa
  • Grade: Level not specified - Level not specified
  • Occupational Groups:
    • Operations and Administrations
    • Banking and Finance
  • Closing Date: Closed

Background
 
UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence.
 
UNDP does not tolerate sexual exploitation and abuse, any kind of harassment, including sexual harassment, and discrimination. All selected candidates will, therefore, undergo rigorous reference and background checks.

Under the overall guidance and supervision of the Operations Manager, the Finance Specialist ensures effective and transparent utilization of financial resources and integrity of financial services. The incumbent analyzes and interprets the financial rules and regulations and provides solutions to a wide spectrum of complex financial issues. The Finance Specialist promotes a client-oriented approach consistent with UNDP rules and regulations and procedures.

The Finance Specialist supervises and leads professional and support staff of the Finance Unit.

Position Purpose

The Finance Specialist supervises and leads the support staff of the Finance Unit. The Finance Specialist works in close collaboration with the operations, programme and project teams in the CO and UNDP HQs staff to ensuring successful CO performance in Finance and for resolving complex finance-related issues and information delivery.

Duties and Responsibilities
  1. Ensure effective and accurate financial resources management and oversight, and implementation of operational strategies and procedures, focusing on achievement of the following results:
  • Financial analysis and oversight for all resources managed by the CO and provision of high-quality professional advice to the CO management;
  • Proper planning, expenditure tracking and audit of financial resources, including extra-budgetary income in accordance with UNDP rules and regulations;
  • Organization and oversight of CO cash management processes, including liquidity management, recommendation of imprest level, risk assessment, bank relationship management, timely accounting and reconciliation of all transactions, security for cash assets on site;
  • Monitoring of financial exception reports for unusual activities, transactions and investigation of anomalies or unusual transactions. Provision of information to supervisors and other UNDP staff at HQ on the results of the investigation when satisfactory answers are not obtained;
  • Member of bank signatory panel;
  • Full compliance of financial activities, financial recording/reporting system and audit follow up with UN/UNDP rules, regulations, policies and strategies; implementation of the effective internal control, proper design and functioning of the financial resources management system;
  • CO finance business processes mapping and elaboration/establishment of internal standard operating procedures in the Finance Unit; control of the workflows in the Finance Unit;
  • Continuous analysis and monitoring of the financial situation, presentation of forecasts for development and management projects;
  • Elaboration of the framework and conditions of contribution within the CO resource mobilization efforts;
  • Elaboration and implementation of cost saving and reduction strategies (including introduction and development of e-banking);
  • Ensure effective use of the Corporate Management System-Quantum by enhancing knowledge of the system.
  1. Manage the budget of development and management projects and organize an optimal cost-recovery system, focusing on achievement of the following results:
  • Management of all financial resources through planning, guiding, monitoring and controlling of the resources in accordance with UNDP rules and regulations;
  • Preparation and monitoring of projects’ budgets in Quantum;
  • Implementation of the control mechanism for office budgets through monitoring budgets preparation and modifications, budgetary status versus ASL, follow up with HQs on ASL for office budgets, maintenance of the General Ledger;
  • Regular analysis and reporting on the budget approvals and the delivery situation of management projects;
  • Presentation of thoroughly researched information for planning of financial resources of the CO, reports containing analysis of the financial situation;
  • Elaboration of proper mechanisms to eliminate deficiencies in budget management;
  • Organization of cost-recovery mechanisms for services provided by UNDP ensuring the preparation of pro-forma invoices for UN agencies and monitoring through the Quantum tracking system;
  • Monthly preparation of cost-recovery bills in Quantum for the services provided by elaboration and implementation of the income tracking system and follow up on cost recovery;
  • Collection of information on internal and external clients’ satisfaction and needs in order to develop improvements to services;
  • Ensuring that advance payments and direct payments for NEX projects are properly reviewed and made on a timely basis, as well as ensuring that payment information is properly recorded into the Quantum system on a timely basis;
  • Ensuring that cost-sharing contributions are properly transferred to UNDP on a timely basis;
  • Submission of financial reports to donors on a timely and quality basis.
  1. Ensure proper control of CO accounts, focusing on achievement of the following results:
  • Elaboration of the internal expenditures’ control system which ensures that invoices processed are matched and completed, transactions are correctly recorded and posted in Atlas; payrolls are duly prepared; monthly payment orders (MPOs), travel claims and other entitlements are duly processed;
  • All financial transactions are identified, recorded and verified in compliance with IPSAS as outlined in the corporate policies and procedures;
  • Manager level 2 for transactions approval if authorized by Senior Management;
  • Control of accounts closure;
  • Approval of Suppliers’ profile in Quantum;
  • Timely corrective actions on unposted invoices, including the invoices with budget check errors, match exceptions, unapproved invoices. Timely response to HQ requests to resolve financial data issues;
  • Control of the Accounts Receivables for UNDP projects and maintenance of the General Ledger;
  • Control of the Accounts Receivables for UNDP projects and follow up with partners on contributions, maintenance of the General Ledger;
  • Maintenance of the internal expenditures control system which ensures that invoices processed are matched and completed, transactions are correctly recorded and posted in Quantum;
  • Coordination and review of accounts closure;
  • Effective management of GLOC payment by the Government;
  • Timely review of cash position for local accounts to ensure sufficient funds on hand for disbursements. Timely identification and recording of receipts for income application;
  • Daily review of zero-balance account bank statements in Quantum to monitor imprest level; identification and recording of contributions;
  • Primary contact with local bank management on routine operational matters including negotiation of exchange rate on replenishments;
  • Transaction and stop payment approval on internet banking system;
  • Approval and submission of monthly UN exchange rate reports to HQ Treasury;
  • Overall Supervision and timely and accurate approval of bank reconciliation, including documented review of exceptions;
  • Initiation of bank transfers and deals, selecting bank transfers and deals for approval and settlement;
  • Performing pay cycle manager role in Quantum;
  • Timely preparation of monthly cash flow forecast for use by the Operations Manager. Liaison with other UN agencies to obtain estimate of their cash requirements.
  1. Ensure facilitation of knowledge building and sharing in the CO, focusing on achievement of the following results:
  • Organization of trainings for the operations/ projects staff on Finance;
  • Synthesis of lessons learnt and best practices in Finance;
  • Sound contributions to knowledge networks and communities of practice.

Supervisory/Managerial Responsibilities: The Finance Specialist will be leading the core and support staff in the Finance Unit. This requires setting performance goals of staff, allocating work assignments to the unit staff in accordance with their skill sets and backgrounds, maintaining strong team spirit by the workforce and fostering an environment of mutual respect and wellbeing that enhances efficiency and productivity. S/he sets an example of professionalism, integrity as well as effective monitoring of performance and support.

Competencies

Core Competencies:

Achieve Results: LEVEL 3: Set and align challenging, achievable objectives for multiple projects, have lasting impact

Think Innovatively: LEVEL 3: Proactively mitigate potential risks, develop new ideas to solve complex problems

Learn Continuously: LEVEL 3: Create and act on opportunities to expand horizons, diversify experiences

Adapt with Agility: LEVEL 3: Proactively initiate and champion change, manage multiple competing demands

Act with Determination:  LEVEL 3: Think beyond immediate task/barriers and take action to achieve greater results

Engage and Partner: LEVEL 3: Political savvy, navigate complex landscape, champion inter-agency collaboration

Enable Diversity and Inclusion: LEVEL 3: Appreciate benefits of diverse workforce and champion inclusivity

People Management 

UNDP People Management Competencies can be found in the dedicated site.

The Finance unit staff directly report to the incumbent, and as such is required to demonstrate empathy and emotional Intelligence. S/he is expected to build and maintain an enabling working environment where staff are engaged and want to do their best as they are empowered to perform and have a positive workplace environment. S/he should promote honestly, openness, trust and psychological safety and create opportunities to innovate and learn. S/he must also build capability by identifying and developing talent, providing positive support to enable them to achieve their potential, by fostering learning and development and by delegating others.

Technical and Cross-Functional Competencies

Business Management:

Results-based Management: Ability to manage programmes and projects with a focus at improved performance and demonstrable results

Resource Management: Ability to allocate and use resources in a strategic or tactical way in line with the principles of accountability and integrity

Customer Satisfaction/Client Management: Ability to respond timely and appropriately with a sense of urgency, provide consistent solutions, and deliver timely and quality results and/or solutions to fulfil and understand the real customers' needs.

  • Provide inputs to the development of customer service strategy.
  • Look for ways to add Value beyond clients' immediate requests.
  • Ability to anticipate client's upcoming needs and concerns.

Finance                   

Management and cost accounting: Ability to produce periodic qualitative and quantitative performance reports to facilitate effective decision making and performance monitoring. Ability to use a range of costing techniques and analyze cost related data to provide quantitative information to the users of reports.

Treasury cash management: Ability to manage organization's cash and investment holdings with the ultimate goal of maximizing liquidity and mitigating risks. Understands the economic environment, interest rates and the importance of economic forecasting. Understands and can implement a treasury management strategy, including cash flow management, debt management and investment strategies.

Financial reporting and analysis: Understand changes in regulatory, legal and ethical frameworks and standards for financial reporting in the public sector. Ability to extract, evaluate financial data, derive relevant findings and present them in a meaningful and coherent manner to facilitate effective decision making and performance monitoring. Understands the benefits of integrated reporting, including non-financial resources such as human, social and intellectual capital, and environmental and governance performance.

Financial planning and budgeting: Ability to create and manage processes to achieve UNDP's long and short-term financial goals, including through planning, budgeting, forecasting, analyzing and reporting.

Required Skills and Experience
 
Education:
  • Master's University Degree in Finance/Accounting, Business, or Public Administration, or a professional accounting qualification from an internationally recognized institute of accountancy. Professionally qualified accountants from an internationally recognized institute of accountancy will have a distinct advantage;
  • UNDP Advanced Accountancy & Finance Test required.
Experience:
  • Minimum 5 years of relevant experience in providing financial management advisory services and/or managing staff and operational systems;
  • Experience in the usage of computers and office software packages (MS Word, Excel, etc) and advance knowledge of spreadsheet and database packages;
  • Experience in handling of web-based management systems and ERP financials, preferably PeopleSoft;
  • Experience of IPSAS and/or IFRS is required for external candidates.

Language: Fluency in English and national language of the duty station.

 

Please note that continuance of appointment beyond the initial 12 months is contingent upon the successful completion of a probationary period.
 
Disclaimer
 
Applicant information about UNDP rosters
 
Note: UNDP reserves the right to select one or more candidates from this vacancy announcement.  We may also retain applications and consider candidates applying to this post for other similar positions with UNDP at the same grade level and with similar job description, experience and educational requirements.
 
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