Background
Diversity, Equity and Inclusion are core principles at UNDP: we value diversity as an expression of the multiplicity of nations and cultures where we operate, we foster inclusion as a way of ensuring all personnel are empowered to contribute to our mission, and we ensure equity and fairness in all our actions. Taking a ‘leave no one behind’ approach to our diversity efforts means increasing representation of underserved populations. People who identify as belonging to marginalized or excluded populations are strongly encouraged to apply. Learn more about working at UNDP including our values and inspiring stories.
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.
Organizational Context
General Assembly Resolution 2186 (XXI) decided to “bring into operations the United Nations Capital Development Fund as an organ of the General Assembly which shall function as an autonomous organization of the United Nations. The UN Capital Development Fund (UNCDF) assists developing countries, especially least developing countries, in the development of their economies by supplementing existing sources of capital assistance by means of grants, loans, and guarantees. UNCDFs vision is to help mobilize and catalyze an increase of capital flows for SDG impactful investments to Member States to address the most pressing development challenges facing vulnerable communities in these countries and thereby contribute to sustainable economic growth and equitable prosperity.
UNCDF utilizes its unique capability in the UN system to deploy grants, loans and guarantees to crowd-in finance for the scaling of development impact. UNCDF focuses on where the needs are greatest, a deliberate focus and capability rooted in UNCDF’s unique investment mandate to support the achievement of the 2030 Agenda for Sustainable Development and the realization of the Doha Programme of Action for the least developed countries, 2022–2031.
As per its Strategic Framework, UNCDF works to deploy its functions as a hybrid development organization and development finance institution. UNCDF responds to Member States requests for assistance by providing targeted technical and financial advisory services on investments for development outcomes, designing bespoke financial structuring solutions, undertaking financial derisking of investments, and enhancing investment readiness of SDG aligned projects in partnership with private sector, UNOs, International and Local Finance Institutions, Development Finance Institutions as well as Foundations and Philanthropy, among others. UNCDF works to develop local financial systems, new markets and mobilize and crowd in capital from public and private sources. UNCDF is driven by a partnership mindset which enables it to deploy its different capital capabilities in highly tailored and responsive ways in order to mobilize investments flows from other sources, in particular from the private sector. By structuring transactions which are highly impactful, but also recognize the need for multiplying the impact of its own capital, UNCDF seeks to position itself as a preferred partner for different stakeholders. UNCDF’s work is focused on six priority areas, including:
Sub-national and local infrastructure financing Women owned enterprise financing Nature and climate financing Energy and decarbonization finance Sustainable food systems financing Inclusive digital financeFollowing a recent restructuring, UNCDF’s organizational set up includes an Investment and Implementation Division (IID), Investment and Finance Oversight Division (IFOD), Operations and Oversight Division (OOD) and a Directorate of the Executive Office. UNCDF staff and personnel are located in regional hubs based in Dakar (Senegal), Nairobi (Kenya) and Bangkok (Thailand) with sub-regional presence in a number of locations in the Caribbean and Pacific Regions. UNCDF is led by an Executive Secretary based out of New York, USA. Pursuant to General Assembly resolution 2321(XXII, para 1.a), the Administrator of the UNDP performs the function of the Managing Director of UNCDF. UNCDF is overseen by the Executive Board of United Nations Development Fund (UNDP), United Nations Population Fund (UNFPA) and the United Nations Office for Project Services (UNOPS) and performs the function of the Executive Board of UNCDF.
Position Purpose
Under the guidance and supervision of the Head – Corporate Finance Services, the Finance Specialist is responsible for performing all activities related to financial accounting and financial services including processing of financial transactions, implementation of internal controls, preparing statutory and other financial reports on the UNCDF financial resources, managing the integrity of UNCDF ledgers in the ERP, and developing and managing the institutional and integrated budget of UNCDF. The Finance Specialist is responsible for provision of quality services in and contributes to the development of financial policies, rules, procedures, systems and tools to ensure efficiency and efficacy in financial management and operations. The incumbent advises and supports the Head – Corporate Finance Services in coordinating both internal and external (UNBOA) audits for entire UNCDF and preparation of audit supporting documentation.
The Finance Specialist works in close collaboration with Operations and Oversight Division, programme and project teams at headquarters, regional hubs, and country offices as well as Operations teams in UNDP Country Offices and UNDP Office of Financial Management. The Finance Specialist will serve as secondary supervisor for the Finance Associates based in regional hubs who will have a matrix reporting line to the Finance Specialist.
The Finance Specialist will be based in New York, USA. The role requires some travel. UNCDF staff may be periodically redeployed to different regional hubs or headquarters as needed, subject to capability, consent, and due process.
UNCDF adopts a portfolio approach to accommodate changing business needs and leverage linkages cross interventions to achieve its strategic goals. This is a recognition of interconnected nature of development risks & crises that the world is facing and that call for assembling of multidisciplinary teams for an integrated & systemic response. Therefore, UNCDF personnel are expected to work across issues, units, functions, teams and projects in multidisciplinary teams in order to enhance and enable horizontal collaboration.
Key Duties and Accountabilities
1) Ensure effective financial planning, analysis, management, and services.
Monitor the financial status of financial resources and keep stakeholders and clients informed. Identifies approaches and modalities for timely actions/decisions to ensure optimum utilization of UNCDF and donor funded resources. Manage, review, implement and/or verify financial transactions/activities, recording/reporting system and audit reports and ensure full compliance with and consistent approach to UNCDF internal control framework and financial rules, regulations and strategies. Recommend and/or implement cost management strategies including cost recovery strategies and cost-effective financial arrangements. Advise the Head of Corporate Finance Services in monitoring the implementation of financial business processes, UNCDF internal Standard Operating Procedures and use of Quantum system to ensure proper management of financial transactions and the timely flow of financial information in UNCDF for management, monitoring and oversight purposes. Act as Head of the unit in the absence of the Head of Corporate Finance Services, and manage and run the unit. Perform Manager Level 2 approval functions in Quantum for accounts payable, purchasing, general ledger, commitment control and other delegated authority.2) Ensure financial monitoring, oversight, and control.
Analyze and implement financial policies, procedures, internal control and tools to facilitate the receipt, management, expenditure control, cash management, accounting, monitoring, oversight and reporting of resources and control of Trust Funds, cost sharing resources, and regular and other non-resources under the responsibility of UNCDF. Monitor financial exceptions report for unusual activities, transactions, investigate anomalies or unusual transactions and report conclusions and/or present recommendations for actions/decisions to the Head – Finance. Review UNCDF General Ledger accounts on a regular basis, identify unusual transactions and postings and ensure they are corrected. Propose changes in accounting policies and controls to promote timely recording and reporting. Monitor and advise on the status of loans to Head of Finance and in close cooperation with UNDP Office of Financial Management, support the timely year-end closing of accounts and preparation of UNCDF statutory financial statements. Manage cash reporting system for contributions, ensuring timely accounting and reconciliation of all deposits and security of cash assets. Manage the implementation of IPSAS accounting standards and compliance thereof.3) Provision of advisory support and technical guidance.
Analyze and interpret UNDP/UNCDF Financial Regulations and Rules, provide advice and recommend solutions on a wide range of financial issues to UNCDF internal clients and stakeholders. Provide advice and support to UNCDF Units and Field Offices on financial management of program and projects resources, including providing input in the review and/or policy development of donor and cost-sharing and trust funds agreements, financial oversight, monitoring, analysis and reporting on program and project implementation and of financial results, including variance analysis. Contribute to the evaluation of the ability and performance level of UNCDF Field Offices in financial management to assess and recommend the appropriate delegation of responsibility commensurate to the capacity level of field offices. Provide on-going advice and technical guidance on complex financial matters to UNCDF Senior Management, HQ Units and Field Offices.4) Ensure financial reporting and responding to audit.
Oversee the preparation of cost sharing and Trust Fund agreements including conditions of contributions within resource mobilization efforts. Prepare timely and accurate financial reports to governments and donors as required under donor agreements, Trust Fund and other cost-sharing arrangements. Prepare responses to internal and external audit inquiries and other findings related to financial management. Follow up and/or take prompt action to respond to audit and other findings on financial management including incorporating recommendations in development planning, improving operations and policy formulation. Under the supervision of Head of Corporate Finance Services, manage the financial closures processes, including preparation of financial statements and accompanying notes in coordination with UNDP Office of Financial Management colleagues. Under the supervision of Head of Corporate Finance Services manage all financial reporting requirements to meet stipulated deadlines.5) Ensure effective budget management.
In consultation with Head of Corporate Finance Services, prepare and monitor the UNCDF institutional and integrated budgets based on the resource availability, results based budgeting, and organizational priorities. Preparation of the regular and extra-budgetary resource budgets based on inputs from unit heads, reflecting corporate goals and UNCDF business plan. Advise Head of Corporate Finance Services and UNCDF Senior Management on complex budget issues including staff costs, general operating expenses and cost recovery. Preparation of budget performance reports for management review and decision making.6) Facilitate knowledge management and capacity building.
Contribute to the development of UNCDF knowledge base in financial management through capacity building and contributing to training events and activities. Identify, participate in the development of and/or recommend enhancements, updates and improvements in Quantum UNCDF financial modules. Capture, synthesize and/or codify lessons learned and best practices in financial management and services. Disseminate to clients and stakeholders as appropriate to build capacity and knowledge. Contribute to the design or introduction of learning tools, best practices and innovations in financial business operational practices and management.The incumbent performs other duties within their functional profile as deemed necessary for the efficient functioning of the Office and the Organization.
Supervisory/Managerial Responsibilities: Secondary supervision, development and performance management of Finance staff based in the regions will be required. Expected Demonstration of Competencies
Core Competencies:
Achieve Results: LEVEL 3
Set and align challenging, achievable objectives for multiple projects, have lasting impactThink Innovatively: LEVEL 3
Proactively mitigate potential risks, develop new ideas to solve complex problemsLearn Continuously: LEVEL 3
Create and act on opportunities to expand horizons, diversify experiencesAdapt with Agility: LEVEL 3
Proactively initiate and champion change, manage multiple competing demandsAct with Determination: LEVEL 3
Think beyond immediate task/barriers and take action to achieve greater resultsEngage and Partner: LEVEL 3
Political savvy, navigate complex landscape, champion inter-agency collaborationEnable Diversity and Inclusion: LEVEL 3
Appreciate benefits of diverse workforce and champion inclusivityPeople Management
UNDP People Management Competencies can be found in the dedicated site.
Cross-Functional & Technical competencies
Finance: Contributions management
Ability to receive, record, report and manage contributions receivedFinance: Finance business partnering
Able to support business units and add value by innovating and providing solutions to financial issues/queries, including through FAQs, financial tools, advisory, etc. Influences and appropriately challenges non-finance colleagues for whom the service is being provided. Understands the operations, opportunities and challenges of the organization. Holds a commercial outlook, demonstrating accountability towards organizational goals.Business Management: Risk Management
Ability to identify and organize action around mitigating and proactively managing risks.Finance: Financial Reporting and Analysis
Understands 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.Business Management: Communication
Ability to communicate in a clear, concise and unambiguous manner both through written and verbal communication; to tailor messages and choose communication methods depending on the audience. Ability to manage communications internally and externally, through media, social media and other appropriate channels.Business Direction and Strategy: Systems Thinking
Ability to use objective problem analysis and judgement to understand how interrelated elements coexist within an overall process or system, and to consider how altering one element can impact on other parts of the system.Finance: Budget Management
Ability to support budgetary aspects of work planning process, drawing and management of team budgets. Required Skills and ExperienceEducation:
A professional accounting qualification from an internationally accredited institute of accountancy, and/or Advanced (Master’s) University Degree in Finance and /or Accounting is required. A first-level university degree (bachelor’s degree) in the areas mentioned above, in combination with an additional two years of qualifying experience will be given due consideration in lieu of the advanced university degree. Candidates with professional accounting qualifications from an internationally accredited institute of accountancy will have a distinct advantage. Candidates with no professional accountancy qualifications, but with degrees that major in accountancy and/or finance, the candidates must complete the Finance Training and Certification Programme (FTCP) if recruited. Candidates satisfying the two above criteria are exempted from undertaking the UNDP Advanced Accountancy and Finance Test (AAFT). Candidates with an MBA or master’s in finance with no accountancy qualification but with relevant experience must successfully undertake the UNDP Advanced Accountancy and Finance Test (AAFT) to be eligible for shortlisting.Experience:
Minimum of 7 years (with master’s degree) or 9 years (with bachelor’s degree) of work experience, in providing financial management advisory services and managing staff and operational systems is required. Experience in the usage of computers and office software packages (MS Word, Excel etc.) and advance knowledge of spreadsheet and database packages is required. Experience in handling of web-based management systems and ERP financials, preferably Quantum is desired. Experience with International Public Sector Accounting Standards (IPSAS) and/or International Financial Reporting Standards (IFRS) is desired.Language Requirements:
Fluency in English is required with exceptional writing, presentation, and communication skills. Knowledge of another official UN language, in particular French, is an advantage. Disclaimer