ย
*This is a two-year fixed-term co-terminus position fully financed with supplementary funds. Contract renewal depends on the fund availability and/or duration of the project. There is no guarantee of renewal or conversion into another kind of contract.
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.ย
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 IFADโs 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 Financial Controllerโs Division (FCD) plays a key role in supporting stakeholder confidence and protect IFADโs clean external audit opinion on IFAD finances, ensuring sound financial practices and internal control at IFAD, and providing innovative finance solutions to solve problems and improve the decision-making processes. FCD is also responsible for the integrity, transparency, and control of the management of IFAD's resources.ย
The position workss under the overall strategic, policy and management guidance of the Director and Controller, FCD and the direct supervision of the Chief Financial Reporting and Corporate Finance. ย
Job Role ย
The Senior Finance Specialist at this level manage a complete financial operation, encompassing a wide variety of funding sources, a large volume of transactions and extensive dispersed activities.
They are typically accountable for unit work plan establishment and supervision of a team of Finance Specialists, Associates and/or Assistants.ย
Position specifics: The scope of the role of the Senior Finance Officer (Environmental Finance) includes coordination with internal and external stakeholders for financial accounting and reporting activities, being a key stakeholder towards external and internal auditors and the various multilateral climate finance donors. The incumbent should have an in-depth knowledge of multilateral climate funds such as Green Climate Fund (GCF), Global Environment Facility (GEF), Least Developed Countries Fund (LDCF), Special Climate Change Fund (SCCF), Adaptation Fund, EU, etc and related financial and administrative procedures applicable to other IFAD supplementary funds agreements. S/he is a senior professional with an in-depth understanding of relevant financial management and accounting principles, standards, and methods applicable to operations financed by financial institutions/ international aid organizations. The incumbent plays a key role in the fulfilment of FCD`s financial management and reporting function of the GCF Trust Fund, Rural Resilience Trust Fund, the Global Environmental Facility, Adaptation Fund, LDCF, SCCF, Global Agriculture and Food Security Program (GASFP), EU (etc.) and other Financial Reporting requirements.
Key Functions and Results ย
FINANCE PRACTICE LEADER: The incumbent is accountable for technical leadership in his/her operational area at the corporate level and/or responsibility for leadership of other Professional and/or General Service staff ensuring compliance with financial principles and concepts, policies, regulations, and rules as well as for soundness of judgement and conclusions. S/He directly supervises a finance unit with responsibility for work planning and organization, supervision of the work of the unit/section assigned and establishing and monitoring performance management indicators of success. The Senior Specialist develops, implements, and monitors the interpretation and application of new financial policies, regulations, rules, practices, procedures, and systems to meet the evolving needs of the Fund. His/her authoritative knowledge of the Fundโs governing structure, mandate, long-term business strategy, financial rules, and regulations as well as of International Financial Reporting Standards (IFRS). The Senior Specialist ensures accuracy and enhances accountability in the preparation of IFADโs financial statements, policies, and procedures. FINANCE BUSINESS PARTNER: The incumbent is a credible, trusted partner to the client offices served and the Department/Division/Unit where assigned. S/He contributes directly to the development of the Fundโs financial 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. In all interactions s/he promotes the concept of results-based management and accountability for the financial resources entrusted to IFAD. FINANCIAL MANAGEMENT: The incumbent is a team leader with the capacity to develop as well as authoritatively interpret and apply a broad range of international and IFAD financial policies, rules, and regulations as well as systems, standards, and techniques. Activities performed by all finance occupations include (a) contributing to the development and continuous evolution of strategic frameworks; (b) adapting rules and establishing financial procedures relating to the assigned operation; (c) creating effective monitoring systems including operational oversight to ensure effective management of assigned operations, including ensuring due regard to segregation of financial tasks as required; (d) financial reporting and preparing responses for management on queries raised and views expressed by IFADโs Governing Council and other relevant shareholders/partners; (e) reviewing audit reports and providing guidance lo IFAD staff and projects on sound financial management practices; (f) leading the preparation of timely, substantive replies to internal and external audit observations concerning the assigned financial operation; and (g) analyzing IFAD experience with other IFIs and development organizations to adopt best financial management practices in administering IFADโs financial resources. 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 workflows. At this level the Specialist manages change through 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 Fundโs financial standards, regulations, and rules. MANAGERIAL FUNCTIONS: The incumbent is typically a team leader with accountability for integrity, transparency, and equity in the management of IFAD resources. This may include: (a) People Management through work plan development, recruitment, performance and career management of P and GS staff as well as learning management establishing learning plans and ensuring staff supervised meet their development needs while meeting the needs of IFAD; (b) Resource Management by providing strategic and data inputs into the divisional budget preparation exercises; (c) Knowledge and Content Management by ensuring (i) knowledge content within functional area is continuously updated and available to colleagues and clients (ii) best practices are continuously identified, documented and distributed and (iii) appropriate and up-to-date information and learning tools are available to the Fundโs managers, supervisors and staff; and Information Technology Management through leveraging ERP functionality for improved business results, simplification of transaction and reporting processes and improved client services.Position specifics:
FINANCE BUSINESS PARTNER: The Senior Finance Specialist (Environmental Finance) 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 Fundโs financial resources. She/he manages the accounting and reporting process for the relevant Supplementary Funds with particular focus to the multilateral climate finance donors; to produce managerial report, IFRS โcompliant audited financial statements and other financial governing body reports if required. On financial management and reporting matters she/he establishes and maintains a constructive dialogue and coordination with internal and external stakeholders including internal and external auditors, supplementary funds donors, other IFI or UN Agencies. FINANCIAL MANAGEMENT: The Senior Finance Specialist (Environmental Finance) 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 including operationalisation of derivatives contracts in accordance to IFRS and environmental social reporting governance ESG reporting. Activities performed by Senior Finance Speciaistย (Environmental Finance) include:a)ย ย ย ย delivery of timely and accurate financial information of the supplementary funds and hosted entities to internal and external stakeholders;
b)ย ย ย ย preparing financial reports including IFRS- compliant financial statements;
c)ย ย ย ย maintaining and updating, when necessary, the financial procedures relating to the assigned operations;ย
d)ย ย ย ย drafting responses for management on queries raised and views expressed by IFAD's Governing Bodies and other relevant shareholders/partners;ย
e)ย ย ย ย preparing timely, substantive replies to internal and external audit observations concerning the assigned financial operation;
f)ย ย ย ย contributing to the agreement negotiation with supplementary funds donors/ recipients ensuring that legal documents reflect sound financial management arrangements and applicable policies and procedures;
g)ย ย ย ย playing a key role in GCF, GEF, Rural Resilience Programme (2RP), GASFP financial reporting, expenditure verifications, and other donor-related financial assessments.ย
h)ย ย ย ย Providing a wide range of budget services for supplementary funds and related management fees.
Key Performance Indicators ย
Senior Finance Specialists are accountable for authoritative advice and guidance in regard to the Fundโs financial policies, regulations and practices and authoritative interpretation to resolve difficult and unusual cases. They make recommendations to senior management on questions of financial policy, including those that may be the subject of inter-organizational consultations. Senior Finance Specialist are also accountable for leading and ensuring 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 achieves finance programme goals and objectives through innovative program design or redesign. The work requires the development of new and/or modifications of existing policies, practices and techniques as well as the review of Finance Officer and Analyst work performed at lower levels, taking corrective and adaptive actions. S/He provides technical advice to stakeholders in countries, leads technical discussions and capacity building in countries assigned. The KPIs include efficient performance of assigned finance operations and other responsibilities, technical quality in terms of both substantive depth and adaptive relevance to client needs and customer service approach to problem resolution and team leading characteristics, as well as maintaining data integrity on assigned portfolios.
Working Relationships ย
Internally Senior Finance Specialists are authoritative technical advisers to the Fundโs managers, other budget holders and staff in their area of assignment and advocate for accountability and integrity in the allocation and management of the Fundโs financial resources. S/He manages professionals as relevant and leads to improve relevant policies and procedures. Contacts extend throughout the organization and may include Country Office management as needed, internal auditors and evaluation Officers.ย
Externally work relationships require collaboration, coordination and partnership building with local counterparts and external stakeholders 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. S/He will also represent IFAD and FMD in global technical fora and be in direct contact with external auditors and counterparts in other IFI and UN organizations.
Job Profile Requirements ย
Organizational Competencies:
Level 2:
Building relationships and partnerships - Builds and maintains strategic partnerships internally and externally Communicating and negotiating - Acquires & uses a wide range of communication styles & skills Demonstrating leadership - Leads by example; initiates and supports change Focusing on clients - Contributes to a client-focused culture Learning, sharing knowledge and innovating - Challenges, innovates & contributes to learning culture Managing performance and developing staff - Manages wider teams with greater impact on others and on the organization Managing time, resources and information - Coordinates wider use of time, information and/or resources Problem-solving and decision-making - Solves complex problems and makes decisions that have wider corporate impact Strategic thinking and organizational development - Staff in management and/or strategic leadership roles Team working - Fosters a cohesive team environmentEducation:
Level - Advanced university degree from an accredited institution listed on https://www.whed.net/home.php in a technically relevant area (*). 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 below.ย Areas - Accounting, Business Administration or Finance.(*) Note: ย For internal candidates, this requirement will be assessed in line with the provisions set forth in the IFADโs Human Resources Implementing Procedures.ย
Experience:
At least eight (8) years of progressively responsible professional experience.ย Three (3) years in a multilateral development bank or international financial institution providing support on a global scope.Position-specific experience: At least 5 years of experience with managing a team to ensure motivation and high performance. Experience working with IFRS is required. Experience in managing expenditure verifications from multilateral donors such as EU and, budget management of supplementary funds and related management fee is required. Experience in financial reporting to multilateral donors and knowledge of PeopleSoft โOracle BI systems is considered an asset. Professional training and expertise on ESG reporting would be considered as an asset.
Certifications:
Professional qualification in CPA, Chartered Accountant, CIPFA designation or equivalent is mandatory.Languages:
Required English (4 โ Excellent)ย Desirable: French, Spanish, or Arabic (3 โ Good)ยSkills:
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.) Climate Finance: Finance that aims at reducing emissions, and enhancing sinks ofย greenhouse gasesย and aims at reducing vulnerability of, and maintaining and increasing the resilience of, human andย ecological systemsย to negative climate change impacts Debt capital structure management: Know-how in capital structure planning and implementation, development of efficient mix of debt instruments, Rating agencies reporting and road show material IFAD financing strategy: Expertise on the Fund`s governing and financial structure, mandate, long-term business strategy, financial rules and regulations Project financial management: Excellent know-how in project financial management, e.g. internal controls, rural investments, project audit and funds flows 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. Financial crime: Know-how in 3rd party integrity due diligence, KYC, AML, CFT, PEPs, Anti-fraud/corruption and compliance standards, practices and application of industry standard tools and monitoring including professional judgment Risk management (e.g. reputational): Identification and assessment of potential liabilities and risks in IFAD's activities, particularly vis-ร -vis third parties; ability to handle risks via contingency and mitigation strategies Strategy implementation: Ability to lead and manage the development and implementation of medium to longer-term strategies for IFAD / for respective divisions Performance management: Know-how in managing performance so that staff supervised deliver on the agreed objectives and meet their development needs while meeting the needs of IFAD. Is proficient in establishing clear performance goals (operational and behavioural) and learning plans as well as in evaluating the performance of staff against the set goals. Confidentiality & Discretion: Establishes self and division as trusted advisor to internal stakeholders by maintaining high level of discretion and confidentiality in assignments; demonstrates sound judgement when dealing with sensitive and/or confidential matters; drives good governance and is a \"Culture Carrier\" demonstrating IFAD institutional conscience through his/her work. Leadership: Group thought leader, sought out by others and providing mentorship and effective guidance to others; Ability to build trust, inside and outside the organization by acting as a role model for IFAD's core values and competencies, and to provide a clear sense of direction, mentorship and effective guidance to the team, strategizing the IFAD's goals, giving the vision, empowering the team and ensuring a positive environment for all. Political acumen: Ability to conduct sound political analysis and understand complex environments, providing options and adviceOther Information ย
*This is a two-year fixed-term co-terminus position fully financed with supplementary funds. Contract renewal depends on the fund availability and/or duration of the project. There is no guarantee of renewal or conversion into another kind of contract.
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.
In accordance with IFADโs provisions, all new staff members will normally be placed at the first step in the grade level for which they have been selected. For information on IFADโs remuneration package, please visit IFADโs compensation and benefits page on our website. Applicants are invited to use the ICSC compensation calculator to estimate the salary and benefit entitlements. See here