Job Title: Senior Regional Financial Management Officer
Hiring Organization: International
Fund for Agricultural Development
Location – Locality: Nairobi
Location – Region: Kenya
Industry: Financial
Job Type: Full
Time
Salary: KES
Date Posted: 04/30/2024
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
- 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.
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. - 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.
- 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.
- 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
- knowledge
content within functional area is continuously updated and available to
colleagues and clients
- best practices
are continuously identified, documented and distributed and
- appropriate and
up-to-date information and learning tools are available to the Fund’s
managers, supervisors and staff;
- 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:
- 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:
- Level – Advanced
university degree from an accredited institution in a technically relevant
area. The advanced university degree may be substituted by a first level
university degree and at least four (4) additional years of relevant
professional experience over and above
- Areas –
Accounting, Finance, Business Administration or other job related field
- Degree must be
with an accredited institution listed on
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:
- At least eight
years of progressivley 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.
- Position-specific
experience: Experience with an international financial institution, audit
firm, NGO with global outreach or other relevant institution would be an
asset.
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.