Under the guidance of the Chief, Manila Financial Services (MFS) and under the overall supervision of the Head, Manila Financial Review Services, the successful candidate will work under the immediate supervision of the Treasury Supervisor, Manila Treasury Support (MTS) in coordination with the Treasury (TSY) Unit in IOM Headquarters (HQ).
1. Process global payments for IOM Field Missions and local payments for both MAC and IOM Philippines. Execute automatic payment run or manual one-off payments in PRISM (SAP)Financials.
a. Mission Payment Requests (MPR)
• Verify accuracy and completeness of the required documents. Ensure that MPRs are signed by Chief of Mission (COM) or by person duly authorized by COM prior to processing of automatic or manual payment.
• Include payments to airlines and European Union observers
b. Mission Funding Requests (MFR)
• Execute bank to bank transfers to IOM field offices.
• Facilitate proper recording of corresponding entries in SAP
• Ensure that the missions receive the requested funds on time.
c. Local Vendors, Suppliers and Staff Payments (Cash advances, Daily Subsistence Allowance and vendor down-payments)
• Prepare USD or Peso Check and/or USD or Peso wire transfer depending on the payment method and currency of the transaction
• Ensure local checks are processed accurately; review and validate bank details used in wire transfers; ensure that all checks and wire transfers processed for the day are signed and authorized; keep custody of checks for release.
• Notify vendors/suppliers and staffs on the checks ready for release/pick-up.
• Release checks to payees and ensure that official/ acknowledgement receipts are on hand prior to release
• Maintain check register to monitor outstanding checks issued (both in USD and Peso)
• Attend to payment inquiries from vendors/suppliers and staffs.
2. Responsible for processing of special payment to International and retired staff
a. Handle Lump-sum, UAL and Salary Advances endorsed by Manila Human Resource Operation Unit
b. Facilitate reimbursement of Medical Claims which cannot be processed by Cigna.
c. Settle Travel Expense Claims and Tax Reimbursements as Authorized by Central Accounting Support (CAS)
3. Verify all transactions (local and global) conformity to the established IOM financial regulations, accounting procedures/guidelines and internal controls.
4. Responsible for custody and maintenance of the bank master data (global IOM Mission bank account database) in PRISM Financials. Generate house bank and bank key for all newly opened Mission bank accounts. Coordinate the creation in PRISM Financials (FI) with PRISM Central Support Team (PCST). Validate newly created accounts, update closed accounts and changes in authorized local signatory panel.
5. Responsible for the custody and upkeep of update and changes in authorized local signatory panel.
6. Monitor Local and Global accounts for incoming funds and be responsible for the recording of such
a. Post funds received in corresponding Customer (Donor) Accounts.
b. Coordinate with Manila Human Resource Operation Unit and/or Insurance Unit Manila (IUM) the retirees’ HI premiums received for proper coding.
c. Coordinate with Revenue re: creation of open items in customer accounts, if necessary.
d. Advise Revenue, Donor Relations Division (DRD), TSY and Mission concerned of funds received.
e. Handle queries from Missions regarding receipt of donor contributions.
7. Responsible for generating the daily bank statements for Citibank and Standard Chartered Bank accounts; ensure that all processed payments have corresponding entries in the bank statements and corresponding accounting entries in PRISM (SAP)/other applicable ERP systems. Ensure adequate cash balances.
8. Responsible for posting of bank charges; coordinate bank reconciliations with Central
Accounting Support, Manila; forward documents needed for bank reconciliation, i.e., bank
statements for the month, transaction summary report, payroll summary report.
9. In charge with running simulations and executing actual payroll of local staffs. Prepare summary and route file for signatories’ online authorization via Straight2Bank. Monitor salary payments against bank statement and coordinate with HR and Payroll unit regarding rejected/returned payments and the reprocessing of such.
10. Responsible for the Bi-Monthly update of Mission and Year Rates
a. Ensure that the IOM Mission and Year Rates adhere to the United Nations Operational Rates of Exchange
b. Download updated rates from the UN Treasury and reflect such changes in the Mission and Year Rates files maintained by IOM Treasury.
c. Coordinate with PCST the changes in the IOM rates and submit updated files for their review.
d. Upload and publish effective rates in the IOM Intranet Portal.
e. Notify all users world-wide regarding the recent changes in the IOM Rates.
11. In charge with monitoring of Mission’s Cash and Bank Balances
a. Validate the rationality of Funding Requests by scrutinizing the details of the MFR. This includes verifying in system that the mission is within the reasonable monthly coverage and that the mission adheres to the Financial Management Rules and Procedures.
b. Authorize valid requests and process funding timely to ensure that IOM offices have adequate bank balances to continue its operations.
c. Confirm with the missions that the requested funds are received on time and that the funds will be disbursed accordingly to avoid high bank balances before month end closure.
12. Assist in the Daily Recording of Entries in the Treasury Management System
a. Foreign Exchange Deals
• Upload the xml file containing the FX deal details in the 360T Trading Platform in Coupa/TM5
• Review the details uploaded in system against the trade execution
• Update the settlement instructions and create payment
b. Money Market Deals
• Enter in TM5 rollovers or renewal of maturing deposits.
• Review and record new money market deals executed by the Senior Treasury Officer
• Verify the correctness of the details in the settlement instruction and create payment in Coupa.
c. Long-Term Loans
• Update outstanding investment to counterparties by recording purchases and redemptions based on ICD trade tickets.
13. In charge with the daily update of Investment Dashboard
a. Assets and Money Markets
• Download Assets and Outstanding Money Market Funds in various Counterparties from TM5
• Update the data related to Assets and Money Market
• Refresh all connections in the Investment Dashboard to show real-time investments.
b. Counterparty Ratings
• Collect and record Environmental, Social, and Governance ratings on a monthly basis to identify material risks and growth opportunities (ESG rating)
• Gather and document Consensus rating to serve as a benchmark against which you can compare a single analyst’s opinion to gauge how mainstream it is.
• Accumulate and record Long Term and Short-Term S&P ratings to provide the credit credential of the counterparty.
• Collect and record Moody’s Long-term Bank Deposit, Moody’s Long-term Issuer Rating and Moody’s Short-term Counterparty Risk Assessment rating to gauge opinion of the counterparties’ credit quality of obligations or of an issuer’s general creditworthiness.
• Accumulate and register Fitch Long-term Issuer Rating and Fitch Short-term Issuer Rating to gauge the risk on how likely a default probability of the counterparty is.
14. Assist in the monthly recording of Financial Assets such as Bonds and Contract Notes. Update the amortized cost calculation quarterly to reflect correct interest income gain to be reviewed by Central Accounting Support unit and recorded in PRISM.
15. Control Payment Files and Perform Reconciliation in TM5
a. Validate Transactions against Forecast Cashflows in the Treasury Management System
b. Identify forecasts not realized and investigate errors.
c. Notify concerned entity regarding erroneous/ returned payments.
d. Ensure that transactions debited from the account have corresponding cash forecast.
16. Responsible for the maintenance of Mission Master Data. Keep an up to date list of Chief of Missions from various missions world-wide; Update the file according to the Delegation of Authority provided by missions during COM’s absence to enable the OIC to authorize tickets raised in FinCoorp.
17. In charge with the Review and Validation of MPR in FinCoorp
a. Verify if approval on the ticket was made by the Chief of Mission or Officer-In-Charge maintained in the Master Data.
b. Review Mission Payment Requests
• Scrutinize the legitimacy of request and verify completeness of documents submitted.
• Validate the proper house bank, payment method and payment method supplement in the document number provided in the ticket.
• Ensure that the bank details are properly maintained in the vendor account and that the data are consistent with the particulars in the ticket.
• Coordinate with the mission should there be inconsistencies in the request
• Designate the ticket to the BOT
• Perform further monitoring and indicate appropriate ticket status following BOT’s processing.
18. Online Invoice Payable Application (Act as focal person in MTS)
a. Identify recurrent issues in OIPA to ensure that adequate Treasury Requirements are met in the tool.
b. Test new enhancements in the Online Invoice Payable Application and ensure that such developments are beneficial to the streamlining of MTS processes.
c. Monitor ticket tagged as MPR in OIPA
19. Work closely with PCST and ERP Functional Team on technical issues with regards treasury; act as a focal point for treasury issues.
20. Regularly interact/coordinate with the following units:
• MHRO Payroll Support Unit issues
• Revenue/DRD: Donor contributions/return of unspent funds
• Accounts Payable, MAC and PH: Local payments
• Airline Invoice Settlement Unit: Airline payments
• Missions: Payment requests and funding requirements
• TSY/HQ: Treasury issues
• Manila Financial Services: Accounting issues
21. Manage MTS mailbox. Respond to routine queries/requests sent to the mailbox in accordance with procedures.
22. Respond to queries by Missions regarding beneficiaries’ claim of non-receipt of funds. Provide confirmation/copy of wire transfer, initiate investigations with relevant bank to trace funds
23. Deal with audit queries and provide proof of transfer or payments as needed.
24. Maintain business relationship with Citibank Electronic Banking Support, Standard Chartered Bank Client Service Group and Chinabank staff.
25. Perform other related duties as maybe required by the MAC Treasury Supervisor, HQ Treasury and the Chief, Financial Services/MAC.
EDUCATION
• University degree in Accounting, Finance, or a related field from an accredited academic institution
with three years of relevant professional experience; or
• Completed High School degree in the above fields with five years of relevant professional
experience.
Accredited Universities are those listed in the UNESCO World Higher Education Database.
EXPERIENCE
• Work experience in the field of treasury or finance; experience in the banking industry is a distinct
advantage
• Knowledge of online banking systems and/or SAP/or other ERP systems plus generally accepted
accounting principles and internal controls
SKILLS
• Computer literacy including proficiency in MS Office applications
• Good analytical and problem-solving skills
• Commitment, efficiency, flexibility, self-motivation, creative thinking and strong organizational skills
• Ability to work effectively and harmoniously within a team of colleagues from varied cultures and
professional backgrounds
• Excellent written and verbal communication skills in English.
Required Competencies
IOM’s competency framework can be found at this link. Competencies will be assessed during the selection process.
Values - all IOM staff members must abide by and demonstrate these three values:
Inclusion and respect for diversity: Respects and promotes individual and cultural differences. Encourages diversity and inclusion.Integrity and transparency: Maintains high ethical standards and acts in a manner consistent with organizational principles/rules and standards of conduct.Professionalism: Demonstrates ability to work in a composed, competent and committed manner and exercises careful judgment in meeting day-to-day challenges.Courage: Demonstrates willingness to take a stand on issues of importance.Empathy: Shows compassion for others, makes people feel safe, respected and fairly treated.Core Competencies – behavioural indicators (Level 1)
Teamwork: Develops and promotes effective collaboration within and across units to achieve shared goals and optimize results.Delivering results: Produces and delivers quality results in a service-oriented and timely manner. Is action oriented and committed to achieving agreed outcomes.Managing and sharing knowledge: Continuously seeks to learn, share knowledge and innovate.Accountability: Takes ownership for achieving the Organization’s priorities and assumes responsibility for own actions and delegated work.Communication: Encourages and contributes to clear and open communication. Explains complex matters in an informative, inspiring and motivational way.Notes
Any offer made to the candidate in relation to this vacancy notice is subject to funding confirmation.This selection process may be used to staff similar positions in various duty stations. Recommended candidates will remain eligible to be appointed in a similar position for a period of 24 months.This post is subject to local recruitment. Only those holding a valid residence and work permit for the country where this position is based will be eligible for consideration.Appointment will be subject to certification that the candidate is medically fit for appointment, verification of residency, visa, and authorizations by the concerned Government, where applicable. Vaccination against COVID-19 will be required for IOM personnel who are hired or otherwise engaged by IOM. As part of the mandatory medical entry on duty clearance, candidates will be requested to provide evidence of full vaccination.IOM does not charge a fee at any stage of its recruitment process (application, interview, processing, training or other fee). IOM does not request any information related to bank accounts.IOM only accepts duly completed applications submitted through the IOM online recruitment system. The online tool also allows candidates to track the status of their application.For further information and other job postings, you are welcome to visit our website: IOM Careers and Job Vacancies