Date of last update: 30/04/2024 (Expiry date: 19/05/2024)
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.
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Organizational Setting
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 Management Services Division (FMD) develops and oversees financial policies and project financial management practices in IFAD-funded operations, including financial reporting, audit, project liquidity management, fiduciary compliance and support.
The division is responsible for IFAD's financial management workforce including consultants.
Senior Regional FM Officers work under the direct supervision of the Director FMD but receive an overall strategic, policy and management guidance from the Senior Financial Management Officer. They have dual reporting line to the Regional Director(s) of the projects and programmes to which the incumbent has an allocated portfolio for activities not linked to financial management compliance.
Job Role
The Senior Regional FM Officers at this level manage a complete financial operation, encompassing a wide variety of funding sources, a large volume of transactions and extensive dispersed activities.
They work in close collaboration with the Regional director, Country Directors (CD), and other programme management and technical staff to ensure consistency, cohesion and synergy in the application of technical support and provision of programme development support. They are typically accountable for the regional work plan establishment and supervision of a team of Finance Professionals and/or Assistants.
The incumbent is embedded in the regional financial management team, and works in close collaboration with the Regional and Country Directors, as well as other programme management and technical staff including procurement officers to ensure consistency, cohesion, and synergy in the application of technical support and provision of programme development support.
Senior Regional FM Officers will travel extensively within the region and other international travel to perform the work of the Organization as they oversee financial management portfolios directly.
Key Functions and Results
1.FINANCE PRACTICE LEADER: The Senior Regional FM Officer is accountable for technical leadership in her/his operational area at the regional level ensuring compliance with financial principles and concepts, policies, regulations and rules as well as for soundness of judgement and conclusions. The Senior Regional FM Officer contributes to the development, implements and monitors the interpretation and application of new financial policies, regulations, rules, practices, procedures and systems to meet the evolving needs of the Fund. The incumbent provides authoritative knowledge of the Fund's governing structure, mandate, long-term business strategy, financial rules and regulations as well as international standards in auditing and accounting and public financial management. The incumbent enhances accountability in the financial management of IFAD funded programs and projects.
2. FINANCE BUSINESS PARTNER: The Senior Regional FM Officer is a credible, trusted partner to the portfolios served. The incumbent contributes directly to the development of the Fund's financial 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. In all interactions the incumbent promotes the concept of results based management and accountability for the financial resources entrusted to IFAD.
3. FINANCIAL MANAGEMENT: The Senior Regional FM Officer is a team leader with the capacity to develop as well as authoritatively interpret and apply a broad range of international and IFAD financial policies, rules and regulations as well as systems, standards and techniques. Activities performed by all finance occupations include:
• contributing to the development and continuous evolution of strategic frameworks;
• adapting rules and establishing financial procedures relating to the assigned operation;
• creating effective monitoring systems including operational oversight to ensure effective management of assigned operations, including ensuring due regard to segregation of financial tasks as required;
• financial reporting and preparing responses for management on queries raised and views expressed by IFAD's Governing Council and other relevant shareholders/partners;
• reviewing audit reports and providing guidance to IFAD staff and ministries/ auditors/ projects on sound financial management practices;
• leading the preparation of timely, substantive replies to internal and external audit observations concerning the assigned financial operation;
• analysing IFAD experience with other IFIs and development organizations to adopt best financial management practices in administering IFAD's financial resources; and
• other project financial management activities as per the risk based assurance framework.
Representative occupational activities include:
• acting as regional focal point and responsible for providing technical leadership to regional and country programmes and project activities;
• formally supervising Finance Officers and national officers as relevant who in turn are responsible for managing the full range of loans and grants portfolio(s), as well as managing a regional portfolio directly;
• managing portfolios to ensure improved results of the financial management of IFAD projects and programmes in line with the underlying risk based assurance framework and related procedures;
• Participating directly in the project activities including the conduct of financial management assessments and review of Project design documents in relation to financial management (e.g. project procurement, flow of funds arrangements, financial reporting, and audit), assessing the appropriate use and reliance on country systems; Advise FM aspects of different instruments and products;
• Assesses FM risk ratings and related mitigating actions throughout the project cycle including mitigation measures to be incorporated in financial covenants;
• Contributing to legal documents and proposed covenants required to reflect sound FM arrangements. Represents financial matters for IFAD in financing agreement negotiations as part of the Country Management Team;
• Monitoring financial management compliance in-country as part of supervision or implementation support missions and financial progress monitoring of ongoing projects including review of project financial reporting, cash flow forecasting and audit reports and assess compliance with international standards. Reviews capacity and eligibility of auditors and outputs, as well as appropriateness of management responses to audit recommendations. Ensures compliance with IFAD's financial management and audit requirements. This included reviewing, validating, monitoring and evaluating the FM arrangements on a continuous basis;
• Maintaining operational links with borrowers and project staff and cooperating institutions during implementation;
• Coordinating financial management dialogue and actions on programmes and projects involving the Fund's operational staff, cooperating institutions, borrowers, co-financiers and projects;
• Formulate authoritative recommendations to the borrower and proactive solutions to improve the quality of financial management;
• Provide proactive financial management support and training and carrying out regular capacity building activities to projects, borrowers and other stakeholders as required and establish action plans to enhance quality of practices and outputs;
• Participating in and contribute to internal and external meetings, training and events on financial management for advocacy, dissemination and knowledge managemen;
• Responsible for contracting of financial management consultants to ensure full coverage of FM activities throughout the project cycle; supervising other junior and support staff and non-staff (including consultants or interns) as relevant; and
• Ensuring effective and accountable maintenance of data in the corporate FM systems.
4. AGENT OF CHANGE: The Senior Regional FM Officer understands and applies the principles of change management and proactively serves as a role model for transformation and capacity for acceptance of change. The incumbent uses a seasoned knowledge of results based management and budgeting, enterprise resource planning (ERP) and other information technology to develop, analyze and promote acceptance of new methods of work and automated work flows. The incumbent manages change through consultations with inter-organizational and internal finance colleagues and outreach to client offices to build understanding of and to ensure open and regular communications pertaining to current and planned changes in the Fund's financial standards, regulations and rules.
5. MANAGERIAL FUNCTIONS: The Senior Regional FM Officer is typically a team leader with accountability for integrity, transparency, and equity in the management of IFAD resources. This may include:
• People Management through work plan development, recruitment, performance and career management of P, GS staff and consultants as relevant as well as learning management establishing learning plans and ensuring staff supervised meet their development needs while meeting the needs of IFAD;
• Resource Management by providing strategic and data inputs into the divisional budget preparation exercises; and
• Knowledge and Content Management by ensuring
o knowledge content within functional area is continuously updated and available to colleagues and clients
o best practices are continuously identified, documented and distributed and
o appropriate and up-to-date information and learning tools are available to the Fund's managers, supervisors and staff;
o and Information Technology Management through leveraging ERP functionality for improved business results, simplification of transaction and reporting processes and improved client services.
Key Performance Indicators
Senior Regional FM Officers are accountable for authoritative advice and guidance in regard to the Fund's financial policies, regulations and practices and authoritative interpretation to resolve difficult and unusual cases. They make recommendations to senior management on questions of financial policy, including those that may be the subject of inter-organizational consultations. Senior Regional FM Officers are also accountable for leading and ensuring the accuracy of a complete, complex financial operation identified by the variety and number of funding sources, diversity of currencies, and the requirement for producing various reports to legislative bodies, member governments, and others interested in the activities of the Fund. The incumbent achieves finance programme goals and objectives through innovative program design or redesign. The work requires the development of new and/or modifications of existing policies, practices and techniques as well as the review of Finance Officer and Analyst work performed at lower levels, taking corrective and adaptive actions. The incumbent provides technical advice to stakeholders in countries, leads technical discussions and capacity building in countries assigned. The KPIs include efficient performance of assigned finance operations and other responsibilities, technical quality in terms of both substantive depth and adaptive relevance to client needs and customer service approach to problem resolution and team leading characteristics, as well as maintaining data integrity on assigned portfolios.
Working Relationships
Internally Senior Regional FM Officers are authoritative technical advisers to the Fund's managers, other budget holders and staff in their area of assignment and advocate for accountability and integrity in the allocation and management of the Fund's financial resources. The incumbent manages professionals as relevant and leads to improve relevant policies and procedures. Contacts extend throughout the organization and may include Regional and Country Office management as needed, inlcuding project procurement teams, internal auditors and evaluation Officers.
External work relationships for Officers normally require an exchange of information with a range of outside sources including staff from governments, specialized agencies, host agencies, Borrowers and Cooperating institutions, external auditors. External work relationships require collaboration, coordination and partnership building with local counterparts and external stakeholders to ensure the effective implementation of financial rules and procedures, with particular reference to the use of donor funding through contacts with Borrowers and Contributing institutions. The incumbent may also represent IFAD and FMD in global technical fora as required.
Job Profile Requirements
Organizational Competencies:
Level 2:
Building relationships and partnerships - Builds and maintains strategic partnerships internally and externally
Communicating and negotiating - Acquires & uses a wide range of communication styles & skills
Demonstrating leadership - Leads by example; initiates and supports change
Focusing on clients - Contributes to a client-focused culture
Learning, sharing knowledge and innovating - Challenges, innovates & contributes to learning culture
Managing performance and developing staff - Manages wider teams with greater impact on others and on the organization
Managing time, resources and information - Coordinates wider use of time, information and/or resources
Problem-solving and decision-making - Solves complex problems and makes decisions that have wider corporate impact
Strategic thinking and organizational development - Staff in management and/or strategic leadership roles
Team working - Fosters a cohesive team environment
Education:
Certifications:
Professional qualification of Finance, Economics and sustainable Financing or similar professional qualification including CPA, or equivalent from an internationally recognised Insititute of Accountancy is mandatory.
Experience:
Languages:
Skills:
Project financial management: Excellent know-how in project financial management, e.g. internal controls, rural investments, project audit and funds flows.
Financial reporting & accounting: Strong knowledge of financial reporting, statutory and other reporting as well as advanced application of international accounting and auditing standards, loan credit risk, financial regulations, policies, rules, and procedures applicable to IFAD and International Organizations.
Disbursements, Payroll and Payments: Working knowledge of major disbursement modalities and related financial checks required for disbursements of loans and grants, payments, and payroll transactions to reduce risk of error, fraud and non-compliance with rules, arrears, and debt management of loans.
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.
Written communication: Aibility to use written communication as a main tool in profession, including for speech writing; clear succinct and convincing written communication; highly professional, balanced and diplomatic language.
Client orientation: String critical thinking combined with communication skills to liaise between the business and technologies to understand business problems and needs, document requirements and idenity solutions.
Initiative and good judgments: High sense of proactive initiative-taking and good judgment (including on security matters).
Verbal communication: Clear, succinct, and convincing verbal communication; highly professional, balanced, and diplomatic language.
Time management: Adherence to deadlines under time constraints and pressure (e.g. to deliver governing body documents on time); ability to coordinate and manage complex workflows and in-house and external teams.
Initiative and good judgment: High sense of proactive initiative-taking and good judgement (including on security matters).
Knowledge of regional dynamics including political, economic, cultural, linguistic, operational and business environment is desirable.
Other Information
Applicants should note that 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 in line with its Diversity, Equity and Inclusion (DEI) Strategy and the Policy to prevent and respond to sexual harassment, sexual exploitation and abuse.https://webapps.ifad.org/members/eb/134/docs/EB-2021-134-R-9.pdf ; https://www.ifad.org/documents/38711624/42415556/SEA_e_web.pdf/85275c4d-8e3f-4df0-9ed8-cebaacfab128?t=1611326846000
In accordance with IFAD's provisions, all new staff members will normally be placed at the first step in the grade level for which they have been selected. For information on IFAD's remuneration package, please visit IFAD's compensation and benefits page on our website. Applicants are invited to use the ICSC compensation calculator to estimate the salary and benefit entitlements. See here.
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.
This is how cinfo can support you in the application process for this specific position:
Working hours (%): 80-100%
80-100%Type of contract: Staff (Permanent and Fixed Term)
Macro-area: Sub-Saharan Africa
Level of experience: Senior Professional, more than 5 years
Area of work Definition: Banking and Finance
Type of organisation: Multilateral Organisations
