Organizational Context
Under the overall guidance of the DCD-O the Finance Specialist is responsible for ensuring the highest efficiency in financial resources management and the provision of accurate, thoroughly researched and documented financial information, effective delivery of financial services, transparent utilization of financial resources and management of the CO Finance Unit in a large Country Office. He/she analyzes and interprets the financial rules and regulations and provides solutions to a wide spectrum of complex financial issues. The Finance Specialist promotes a collaborative, client-oriented approach consistent with UNDP rules and regulations.
The Finance Specialist supervises and leads professional and support staff of the Finance Unit. The Finance Specialist works in close collaboration with the Management Support and Business Development, Programme, Operations, and project teams in the CO, UNDP HQ staff and Government officials ensuring successful CO performance in Finance.
Functions / Key Results Expected
Summary of key functions:
Effective and accurate financial resource management and oversight
Implementation of operational strategies and procedures
Projects' budgets management and organization of an optimal cost-recovery system
Control of CO accounts
Control of CO cash management
Facilitation of knowledge building and sharing
1. Ensure effective and accurate financial resources management and oversight, focusing on achievement of the following results:
Financial analysis and oversight for all resources managed by the CO and provision of high-quality professional advice to the CO management
Proper planning, expenditure tracking and audit of financial resources, including extra-budgetary income in accordance with UNDP rules and regulations.
Organization and oversight of CO cash management processes, including liquidity management, recommendation of imprest level, risk assessment, bank relationship management, timely accounting and reconciliation of all transactions, security for cash assets on site.
Monitoring of financial exception reports for unusual activities, transactions and investigation of anomalies or unusual transactions. Provision of information to supervisors and other UNDP staff at HQ on the results of the investigation when satisfactory answers are not obtained.
2. Ensure implementation of operational strategies and procedures, focusing on achievement of the following results:
Full compliance of financial activities, financial recording/reporting system and audit follow up with UN/UNDP rules, regulations, policies and strategies; implementation of the effective internal control, proper design and functioning of the financial resources management system.
CO finance business processes mapping and elaboration/establishment of internal standard operating procedures in the Finance Unit; control of the workflows in the Finance Unit.
Continuous analysis and monitoring of the financial situation, presentation of forecasts for development and management projects.
Elaboration of the framework and conditions of contribution within the CO resource mobilization efforts.
Elaboration and implementation of cost saving and reduction strategies (including introduction and development of e-banking).
Routinely monitors financial exception reports for unusual activities, transactions, and investigates anomalies or unusual transactions. Informs supervisors and other UNDP staff at Headquarters of the results of the investigation when satisfactory answers are not obtained.
Review of Financial Dashboard reports and take corrective actions in advance in order to be green
3. Manage the budget of development and management projects and organize an optimal cost-recovery system, focusing on achievement of the following results:
Management of all financial resources through planning, guiding, monitoring and controlling of the resources in accordance with UNDP rules and regulations.
Preparation and monitoring of management projects' budgets in Atlas including UN Houses, CSA RC and UNDSS
Regular analysis and reporting on the budget approvals and the delivery situation of management projects.
Elaboration of proper mechanisms to eliminate deficiencies in budget management.
Organization of cost-recovery mechanisms for services provided by UNDP (including ISS, GMS and UPL) ensuring the preparation of pro-forma invoices for UN agencies and monitoring through the Atlas tracking system.
Collection of information on internal and external clients' satisfaction and needs in order to develop improvements to services.
Ensuring that cost-sharing contributions are properly transferred to UNDP on a timely basis.
Submission of financial reports to donors on a timely and quality basis.
Preparation of financial reports for review of senior management on regular basis
4. Ensure proper control of CO accounts, focusing on achievement of the following results:
Elaboration of the internal expenditures' control system which ensures that vouchers processed are matched and completed, transactions are correctly recorded and posted in Atlas; payrolls are duly prepared; monthly payment orders (MPOs), travel claims and other entitlements are duly processed.
Manager level 2 for transactions approval and proper review and control of the supporting documents for payment.
Control of accounts closure
Approval of vendors
Timely corrective actions on un-posted vouchers, including the vouchers with budget check errors, match exceptions, unapproved vouchers. Timely response to HQ requests to resolve financial data issues.
Control of the Accounts Receivables for UNDP projects and Common Services. Follow up with partners on contributions, maintenance of the General Ledger and presentation of reports for management review.
5. Ensure proper CO cash management, focusing on achievement of the following results:
Timely review of cash position for local accounts to ensure sufficient funds on hand for disbursements. Timely identification and recording of receipts for income application.
Daily review of zero-balance account bank statements in Atlas to monitor imprest level; identification and recording of contributions.
Primary contact with local bank management on routine operational matters including negotiation of exchange rate on replenishments.
Transaction and stop payment approval on internet banking system.
Approval and submission of monthly UN exchange rate reports to HQ Treasury.
Timely and accurate approval of bank reconciliation, including documented review of exceptions.
Initiation of bank transfers and deals, selecting bank transfers and deals for approval and settlement.
Performing paycycle manager role in Atlas .
Timely preparation of monthly cash flow forecast for use by the Operations Manager. Liaison with other UN agencies to obtain estimate of their cash requirements.
6. Ensure facilitation of knowledge building and sharing in the CO, focusing on achievement of the following results:
Organization of training for the operations/ projects staff on Finance.
Synthesis of lessons learned and best practices in Finance.
Sound contributions to knowledge networks and communities of practice.
Qualifications
Chartered Accountant, CPA, Certified Internal Auditor or related qualifications and/or Master's Degree or equivalent in Finance, Accounting or Business Administration.
Corporate Competencies
Demonstrates integrity by modeling the UNs values and ethical standards
Promotes the vision, mission, and strategic goals of UNDP
Displays cultural, gender, religion, nationality and age sensitivity and adaptability
Functional Competencies
Knowledge Management and Learning
Promotes knowledge management in UNDP and a learning environment in the office through leadership and personal example
Actively works towards continuing personal learning and development in one or more Practice Areas, acts on learning plan and applies newly acquired skills
Development and Operational Effectiveness
Ability to lead strategic planning, results-based management and reporting
Ability to formulate and manage budgets, manage contributions and investments, manage transactions, conduct financial analysis, reporting and cost-recovery
Good knowledge of accounting
Ability to successfully lead the Finance Team
Excellent IT skills
Ability to implement new systems and affect staff behavioral/ attitudinal change
Management and Leadership
Builds strong relationships with clients, focuses on impact and result for the client and responds positively to feedback
Consistently approaches work with energy and a positive, constructive attitude
Demonstrates good oral and written communication skills
Demonstrates openness to change and ability to manage complexities