Role Description

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 IFAD Financial Controller’s Division (FCD) is a specialized finance Division providing solutions to IFAD in the field, in headquarters and to its partners globally. FCD supports development results through its Controllership function which improves the stewardship of resources globally. FCD’s Disbursement function ensures approval of over $1 billion of resources annually. FCD’s Financial Crime function protects IFAD and its data from sanctions, money laundering, terrorism financing, fraud and related risks. FCD’s Financial Reporting and Corporate Finance function ensures clean audit opinions per IFRS, reporting of borrrowings, debt servicing, donor and statutory reporting to protect IFAD’s credit rating. FCD is a trailblazer of new technologies.

Position-specific:

FCD’s Disbursement function ensures approval of over $1 billion of resources annually. It efficiently approves loans and grants disbursements globally. It ensures IFAD staff receive accurate payroll on a monthly basis and is responsible for payments globally in IFAD and at our partner agencies in 65 locations globally. The Disbursement function also supports adherence to internal processes, as well as IFAD’s data protection and privacy processes. 

The position is located in the Disbursement function and the incumbent works under the direct supervision of Finance Specialist (Disbursements, Loans & Grants). 

Finance Analysts typically work with a higher level Finance Specialist in monitoring financial performance and preparing and evaluating financial reports; the incumbent may alternatively supervise a homogeneous portion of a financial operation which is predominantly process oriented.

Position specific:

The incumbent is part of the Loans & Grants team to deliver excellent client service, providing efficient and effective value proposition for both internal and external stakeholders. They will be assisting in the day-to-day approval of disbursements.

1. FINANCE BUSINESS PARTNER: The Finance Analyst is a credible, trusted partner to the client offices served and the Department/Division/Unit assigned. The position 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 Analyst 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 support of the integrity in the management of the Fund’s financial resources. The Analyst’s focus is on building their knowledge base of the Fund’s governing structure, mandate, long-term business strategy, organizational dynamics and culture.

2. FINANCIAL MANAGEMENT: Finance Analysts are establishing expertise in the UN’s financial principles, policies, regulations, rules and procedures. The position is assigned a portion of a financial operation, such as Payroll for headquarters staff and processing transactions where concurrent stages of processing are required. Representative activities include: (a) reviewing, approving, reconciling and processing a range of accounting transactions on a regular and recurring basis; (b) reviewing, analysing and projecting programme financial implications in light of additional mandates or other programme changes; (c) analyzing and evaluating financial reports produced on a regular basis, explaining variances and producing reports and correspondence as required; (d) ensuring the timely and correct entry into the General Ledger of all input in accordance with corporate accounting practices, approving and posting all payable, receivable and correction journals; (e) monitoring financial performance, allotments and expenditures to ensure that they remain within authorized parameters and resolving emergent financial issues; (f) managing non-complex loans and grants portfolio(s) including in the review of Project design documents in relation to financial management (e.g. flow of funds, procurement, financial reporting and audit) as well as in relation to the disbursement of funds; and (g) analyzing, recommending and trading individual securities for different fixed income sectors and markets for internal investment portfolios of IFAD and related entities, in accordance with well-established policies and investment guidelines and also analyzing and proposing well-thought through changes to these.

3. AGENT OF CHANGE: The Finance Analyst maintains an awareness of the principles of change management and proactively serves as a role model for transformation and capacity for acceptance of change. The position uses a knowledge of results based management and budgeting, enterprise resource planning (ERP) and other information technology to analyze and promote acceptance of new methods of work and automated work flows. At this level the Analyst manages change through consultations with finance colleagues and outreach to client offices to ensure open and regular communications pertaining to current and planned changes in the Fund’s financial administration.

4. MANAGERIAL FUNCTIONS: Is accountable for integrity, transparency, in the personal use of assigned IFAD resources, including equipment, supplies and, as applicable, staff supervised.

Position specific:

The incumbent:

• Assists in the review for approval of cash disbursements of loans and grants in compliance with the relevant risk framework, AML Policy, Anti-fraud policy and within IFAD’s overall ERM framework
• Is a valued member of the Disbursements –Loans & Grants team ensuring client services, problem solving and responses to queries from IFAD’s 50+ field locations and HQ units 
• Assists in the review for approval of all loan administration functions under FCD’s responsibility to ensure IFAD financings are recorded in an accurately and timely manner in IFAD’s corporate systems
• Liaises on loans & grant disbursement with regional teams and within them, Country Directors, Multi-country Directors and senior technical division staff in field offices and in HQ and ensures client services and partnership building relationship. 
• Assists in monitoring against regional programme delivery targets and communicates with regional focal points to ensure alignment with overall financial planning targets
• Assists in ensures custodianship with IFAD’s core banking system
• Assists in maintaining integrity of data and system interfaces/flows
• Assists in ensuring requests for disbursements and direct payments of loans and grants are checked for anti-fraud, AML & Counter Terrorism Financing, data privacy maintenance in compliance with IFAD’s AML and Counter Terrorism Financing policy, IFAD’s Data Privacy Guidelines, and Anti-fraud and corruption policy.
• Supports the use of anti-fraud digital tools in collaboration with other FCD teams. 
• Contributes to the training and awareness of the cash disbursement risk policy, rollout of the IFAD client portal to new countries/projects and provides input to the related internal reporting to the relevant stakeholders. 

The incumbent analyses unusual transactions and recommends actions to be taken and/or exceptions to be made in the application of financial regulations, rules and procedures. The incumbent executes effective accounting operations where methodology is established or accounting problems have precedents, is accountable for the correctness of authorizations or computations within a group of accounts and proposes improvements in reporting systems of subsidiary ledgers or other elements of a group of accounts.  The incumbent has access to advice and on-the-job training from specialists in the individual finance occupations in the resolution of on-going non-routine work.

Position specific:     

The incumbent participates in ensuring the Loans & Grants team is operating in an effective manner with positive team dynamics. The incumbent also has the responsibility to ensure
•    the timely and accurate recording of all loan and grant administrative transactions and disbursements to IFAD’s projects. 
•    all relevant financial transactions are accurately recorded and reconciled in IFAD’s accounting systems.
•    the compliance of the above transactions with IFAD’s internal control framework over financial reporting.
•    the introduction of business process and system efficiencies into the related areas.

The work relationships of the incumbent involves both written and verbal communications to obtain and provide information regarding decisions on specific cases or to explain why an action has been taken or to obtain information needed to take decisions or support further financial processes. Internal Fund contacts extend to supervisors and staff throughout the Fund to promote understanding of finance regulations, rules and/or procedures pertaining mainly to routine finance matters within her/his area of assignment. This requires skill in building constructive, effective relationships. External contacts are predominantly with banks, institutions or suppliers/vendors, Borrowers and Cooperating institutions, etc. and are for the purpose of exchanging information and making commitments within predetermined parameters.

Position specific: 

The incumbent contributes to change, as well as promoting excellent client service orientation through outreaching to internal and external clients to resolve any operational issue that may arise in their area of responsibility as well as promoting regular communications pertaining to current and planned changes in the Fund’s disbursement modalities, regulations and rules.

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 in a technically relevant area from an accredited institution listed on https://www.whed.net/home.php *
• 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 IFAD’s Human Resources Implementing Procedures. 

Experience:

• Advanced university degree (Master or equivalent) - Entry-level position.

Certifications:

• Enrollment or attainment of professional qualification such as CPA, Chartered Accountant, CIPFA designation or equivalent from an internationally recognized Institute of Accountancy, is an asset.

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.)
• Liquidity management: Know-how in liquidity planning, liquidity investment, investment portfolio management and reporting
• Digital Finance, FinTech and related: Know-how in fintech applications, robotic process automation, blockchain and digital finance applications to design, setup, implement and report
• Disbursements, Payroll and Payments: Know-how in financial checks required for disbursements of loans and grants, payments and payroll transactions to reduce risk of error, fraud and non-compliance with rules, maintenance of clean vendor master files, arrears and debt management of loans
• Financial data integrity and financial systems: know-how in systems interface control, core banking system management, data mining and analytics
• Financial process management: Know-how in the management of financial processes such as reporting, treasury, investment processes and securities trading, cash management processes , etc.
• Financial reporting & accounting: Know-how in financial reporting, statutory and other reporting as well as advanced application of IFRS standards, derivatives, loan credit risk, financial regulations, policies, rules and procedures applicable to IFAD and IFIs
• 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.
• 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.)
• 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

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.

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 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.