Regional Financial Management Officer (Istanbul) P-3, FMD (Re-advertised)

This position will be based in the IFAD Multi-Country Office in the Near East, North Africa and Europe Region (Istanbul, Turkey).

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.

The incumbent works under the overall strategic, policy and management guidance of the Director FMD / Senior Financial Management Officer and direct supervision of the Senior Regional FM Officer.

The incumbent is responsible for managing a full portfolio of loans and grants. This means responsibility for the FM aspects of portfolios, both compliance and implementation support, throughout the project cycle from design to completion, representing IFAD in legal negotiations for financial aspects and ensuring improved results of the financial management of IFAD’s projects and programmes. It means providing technical guidance and advice, knowledge sharing and capacity building to ensure improved FM standards and practices. 

The incumbent is embedded in the regional financial management team, and works in close collaboration with the Country Directors (CD), as well as other programme management and technical staff to ensure consistency, cohesion, and synergy in the application of technical support and provision of programme development support. 

The incumbent will travel extensively within the region and other international travel to perform the work of the Organization as they manage financial management portfolios directly.

1. FINANCE BUSINESS PARTNER: The incumbent is a credible, trusted partner to the regional client countries/offices served and the regional Department/Division/Unit where assigned. They support in the field the Fund’s finance strategy and plan as well as model a commitment to financial integrity by acting as a responsive and constructive service provider with a focus on results that have direct field impact. The incumbent provides seasoned verbal and written advice and guidance to regional supervisors and staff on finance regulations, rules and procedures, facilitating a mutual understanding of roles and fiduciary accountabilities in direct support of integrity in the management of the Fund’s financial resources. They also contribute to the development, improvement and dissemination of technical policies and procedures as required. The incumbent’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:  At this level the incumbent is a seasoned professional with the capacity to interpret and apply a broad range of international and IFAD financial policies, rules and regulations as well as standards and techniques. Activities performed by the incumbent at this level include the full range of complex loans and grants portfolio(s) ensuring improved results of the financial management of IFAD projects and programmes. Representative occupational activities include:

• Overseeing a loans and grants portfolio(s) at regional and country level, ensuring reliable and sound results of the financial management of IFAD projects and programmes.
• 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. flow of funds arrangements, inlcuding project procurement, financial reporting, and audit), assessing the appropriate use and reliance on country systems; Advise FM aspects of different instruments and products.
• Responsible for the assessment of FM risk ratings and related mitigating actions throughout the project cycle including mitigation measures to be incorporated in financial covenants.
• Represents financial matters for IFAD in financing agreement negotiations as part of the Country Management Team.Provides inputs to legal documents and proposed covenants required to reflect sound FM arrangements.
• Represents financial matters for IFAD in financing agreement negotiations, demonstrating know-how in the representation of IFAD as a trusted and strategic partner, advocating and promoting IFAD’s mandate and vision, performing effective consultations with IFAD counterparts.
• 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.
• 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.
• Participates in and contribute to internal and external meetings, training, and events on financial management for advocacy, dissemination, and knowledge management.
• Participating in contracting of financial management consultants to ensure full coverage of FM activities throughout the project cycle.
• Ensuring effective and accountable maintenance of data in the corporate FM systems.

3. AGENT OF CHANGE: The incumbent understands and applies the principles of change management and proactively serves as a role model for transformation and capacity for acceptance of change. They use 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 Specialist manages change through consultations with finance colleagues and outreach to internal and external stakeholders 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. 

4. MANAGERIAL FUNCTIONS: The incumbent is accountable for integrity, transparency, and equity in the personal use of assigned IFAD resources, including equipment, supplies and, if applicable, general service/consultants supervised.

The key results have an impact on the overall efficiency in financial resources management and success in introduction and implementation of operational strategies. Accurate, thoroughly researched and documented financial information, timely and appropriate delivery of services ensure client satisfaction and enhance IFAD credibility in use of financial resources. The incumbent independently performs the full range of work for a complete, homogenous financial operation or components of financial operations in support of a geographic or other organizational area. The supervisor may be consulted in the analysis of complex and/or precedent setting cases to ensure consistency in the interpretation and application of regulations and rules and to document such decisions. The key performance indicators for the incumbent at this level include accurate performance of assigned finance operations, technical quality in terms of both depth and adaptive relevance to client needs and customer service approach to problem resolution.

The incumbent may represent the unit to which assigned on related matters at internal and external meetings and conferences as requested by the supervisor. Internally, the incumbent is required to explain, clarify and implement financial plans and decisions taken or procedural changes planned to ensure accuracy, completeness and integrity of financial data and reporting. They collaborate with Senior FM Officers to provide their feedback on the policies and procedures improvement process. Contacts are with finance, budget, loans and grants, treasury, audit and programme management staff in country offices, inlcuding project procurement teams, and Headquarters. External work relationships for the incumbent normally require an exchange of information with a range of outside sources including staff from governments, specialized agencies acting as CO, host agencies, Borrowers and Cooperating institutions, external auditors. They are also delegated authority to make commitments on routine aspects of the assignment.

In work relationships with counterparts the incumbnent establishes and maintains relationships and projects the image of IFAD as a credible/reliable partner striving for harmonization of financial development activities.

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 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 from an accredited institution in a technical relevant area. The advanced university degree may be substituted by a first university degree and at least four (4) additional years of relevant professional experience over and above.
• Areas – Business Administration, Finance, Banking and other relevant areas.
• Degree must be an accredited institution listed on https://www.whed.net/home.php.

Experience:

• At least 5 years of progressively relevant sound international professional experience in private or public sector financial management (accounting, auditing, finance, economics, financial analysis, business administration and in project administration in a multi-cultural organization or national organization providing support on a global scope. Experience with an international financial institution, audit firm, NGO with global outreach or other relevant institution would be an asset.

Languages:

• Required English (4 – Excellent)
  Desirable: French or Arabic (3 – Good)
• Position Specific : Arabic or French (4-Excellent)

Certification:

• Professional qualification of finance, economics and sustainable financing or similar professional qualification including CPA, or equivalent from an internationally recognized Institute of Accountancy is preferred.

Skills:

• Written communication: Ability 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.
• Project financial management: Excellent know-how in project financial management, e.g. internal controls, rural investments, project audit and funds flows.
• 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 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.
• 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.
• Risk management (e.g. reputational): Know-how in identifying and assessing of potential legal, reputational, ethical risks and liabilities in relation to the Fund’s activities; contributing strongly to the division as second line of defence function; demonstrating ability to manage these risks by advising senior management on contingency and mitigation strategies.
• Client orientation: Strong critical thinking combined with communication skills to liaise between the business and technologies to understand business problems and needs, document requirements and identify solutions.
• Initiative and good judgment: High sense of proactive initiative-taking and good judgement (including on security matters).
• 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.
• Verbal communication: Clear, succinct and convincing verbal communication; highly professional, balanced and diplomatic language.
• Loans & grants: Know-how in designing loan and grant operations and managing loan and grant preparation process.

This is a re-advertisement of JO 21397 at P-3 level. Candidates who had already applied to JO 21397 do not need to re-apply.

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

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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.