Back Financial Reporting and Accounting Consultant

Introduction

The Green Climate Fund is the world’s largest dedicated multilateral climate fund investing in impactful, innovative, catalytic programs and projects in developing countries across the globe, GCF has a portfolio of 270 projects in 129 countries, committing a total of USD 19.95 billion to date.

Our ambition is to grow to become at least a USD 50 billion fund by 2030. Rooted in the core objectives of impact and efficiency, access and a focus on the most vulnerable, and mobilizing a much higher scale of public and private sector financial flows for climate action we have an unparalleled scale of resources, which, together with our risk appetite and flexibility allows us to bring together different partners and stakeholders in innovative partnerships for profound impact.

I. Background
The Financial Reporting and Accounting Consultant will be responsible for preparing the annual financial statements in accordance with the International Financial Reporting Standard (IFRS) and Green Climate Fund’s relevant accounting policies/framework. S/he will work closely with the Finance and Accounting Specialist and the Accounting team of GCF to lead the year-end closing process in Oracle (Fusion), work on improving the necessary accounting controls and help complete the internal and external audits successfully. To ensure accurate and compliant financial records, s/he will be involved in various accounting and finance operational processes such as reconciliation, journal entry preparation, financial data validation, credit card expense reconciliation, etc. The Financial Reporting and Accounting Consultant will also collaborate with other stakeholders in GCF to update/develop the policies and guidelines relevant to the accounting and financial operation process.

The consultant will join the team at the GCF Headquarters in Songdo, South Korea. The assignment is for an initial 120 days over a 6 -month period.

II. Duties and responsibilities

• Collates, consolidates and analyzes financial data from different system sources and different stakeholders as applicable to prepare for the proper accounting entry documentation and manage both internal and external audit inquiries.
• Investigate the root cause of unreconciled balances and seek the necessary information by working with both internal and external stakeholders to complete the reconciliations with proper substantiating documents.
• Collaborate with the GCF ERP and Oracle teams to tackle any system issues and ensure the accuracy of Oracle's financial records; Engage the team to develop and improve the Oracle data migration documentation where applicable.
• Work with the Accounting team to help with the year-end closing process; Evaluate financial statement elements, compare this with other internal and external data to identify and investigate unusual transactions and balances, and make the appropriate modifications to ensure the financial statement elements represent a true and fair view of the financial performance, financial position, and cash flow position.
• Work with the Risk team and other Secretariat teams where applicable to develop the accounting tools/models and perform the assessment for the fair value of assets/liabilities in accordance with the IFRS and GCF’s relevant accounting policies/framework. (e.g. Equity valuation, ECL, SPPI test, Interest income calculation, accruals, etc.)
• Collaborate with other Secretariat teams to update and/or develop the policies and guidelines relevant to the accounting and financial operation process.
• Collaborates with other finance team members in preparing managerial reports, financial planning, and implementing financial management systems as/when needed.
• Develops appropriate knowledge products to enlighten stakeholders and update internal policies, frameworks, guides, and manuals in financial planning and analysis.
• Builds strong networks with other team members to ensure seamless processing of financial transactions, preparation of managerial reports and financial statements, financial planning, and implementation of the financial management system.
• Anticipates and timely avails appropriate benchmarks and comparators to the Senior Management and the Budget Committee to enable them to engage on efficiency and effectiveness of the Fund’s operations.
• Manages and coordinates the timely completion and review of month-end and year-end closure procedures to enable an accurate presentation of the Fund’s financial performance, financial position and cash flow position.

  III. Required experience and qualifications
  Education and Certifications

  • Master’s degree in Business Administration, Finance, or Accounting. or a relevant Bachelor’ degree with two additional years of experience.
  • Fully qualified Accountant (e.g. CA, ACCA, CPA, CIMA).
  • In-depth knowledge of International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS)
  • Audit experience will be an advantage.
  • Certification in controls (e.g. COSO internal controls), fraud examination (e.g. CFE), and International Financial Reporting Standards (IFRS) will be an advantage.

    Experience

    • At least seven years of experience in finance and accounting role with an International/Multilateral Organization.
    • Proficiency in applying and analyzing the impact of International Financial Reporting Standards in International/multilateral organizations.
    • Oracle (Fusion) experience will be an advantage.
    • Advanced knowledge of Excel, Word, PowerPoint, Outlook, and Business Intelligence tools such as Power BI and Tableau.
    • Experience in data analytics and programming skills in Python, etc., will be an added advantage.

      Competencies

      • Demonstrates competencies for communication, teamwork, planning and organizing, accountability, client orientation, and technological awareness, including through the following:
      • Monitors and adjusts plans and actions as necessary; Uses time efficiently.
      • Identifies priority activities and assignments; adjusts priorities as required.
      • Allocates appropriate amount of time and resources for completing work.
      • Foresees risks and allows for contingencies when planning.
      • Ability to be agile and work in a fast-changing multicultural environment with diverse stakeholders at different technical and strategic levels– staff, Board, and external stakeholders.
      • Works collaboratively with colleagues to achieve organizational goals.
      • Solicits input by genuinely valuing others’ ideas and expertise; is willing to learn from others.
      • Delivers outputs for which one has responsibility within the prescribed time, cost, and quality standards.
      • Considers all those to whom services are provided to be “clients” and seeks to see things from clients’ point of view.
      • Excellent written and oral communication skills in English
      • Actively seeks to apply technology to appropriate tasks.
      • Shows willingness to learn new technology.
        

        Applications from women and citizens from developing countries are strongly encouraged.
        Please indicate your earliest availability to take up the assignment and notice-period required, if employed.
        The closing date for applications is 13 December 2024, 23:59 (KST). Applications submitted after the closing date may not be considered.