|Posting Title:||Finance Specialist|
|Job Location:||New York, United States of America|
|Skill Required:||Finance And Accounts, Project/ Programme Management,|
|Preferred Experience:||5 Years|
|Closing Date for Applications:||18th Dec, 2021|
What are the duties of a finance specialist?
UNDP is the knowledge frontier organization for sustainable development in the UN Development System and serves as the integrator for collective action to realize the Sustainable Development Goals (SDGs). UNDP’s policy work carried out at HQ, Regional, and Country Office levels form a continuous spectrum of deep local knowledge to cutting-edge global perspectives and advocacy. In this context, UNDP invests in the Global Policy Network (GPN), a network of field-based and global technical expertise across a wide range of knowledge domains and in support of the signature solutions and organizational capabilities envisioned in the Strategic Plan.
The Finance Specialist will report to the GF/HIST Finance Advisor (New York).
Scope of Work
Duties and Responsibilities:
1. Provide advisory and support services, guidance, and advocacy to Country Offices in the administration of budgets and monitoring of expenditure(s) focusing on the achievement of the following results:
- Ensure full compliance with UNDP financial rules, regulations, and policies, financial recording/reporting system, implementation of effective internal controls, proper functioning of a client-oriented financial resources management system;
- Support Country Offices in the preparation of grant budget proposals, estimation and costing of detailed budgets in accordance with UNDP POPP and donor funding requirements and sharing the past best practices;
- Support Country Offices in setting up an initial budget and subsequent budget revisions for the donor-funded programs;
- Monitor expenditures against approved budgets to ensure timely proactive measures to prevent over-expenditure and material budget deviations from the approved budget with the donors;
- Advise Country Offices on the project and budget set-up and use of UNDP’s ERP system and Hyperion Planning and budgeting System; including the setup of GMS fee set up.
- Review and ensure integrity and consistency of the Global Fund project information in UNDP’s ERP system and Hyperion;
- Provide regular reporting from Hyperion on the global GF portfolio on grant delivery figures against GF approved budgets; and
- Support COs to prepare annual grant delivery and revenue projections to be included during the Institutional Budget preparation exercise.
2. Provide financial advisory and support services in monitoring and oversight during the project implementation in revenue, expense, and asset management of donor funds to Country Offices focusing on the achievement of the following results:
- Support the Finance Advisor on the timely preparation of grant agreements, and Sub-recipient agreements and processing of Annual Funding Decisions and cash transfers by the Global Fund and the prompt and accurate application of Global Fund disbursements;
- Ensure donor grant agreements and disbursements are recorded to correct projects in a timely manner;
- Support Country Offices by following up with the donors when contribution income is delayed and support the global tracking of Global Fund disbursements in line with funding decisions;
- Provide timely, analytical support to Country Offices regarding financial queries from donors in coordination with the Country Team;
- Provide oversight on implemented activities and ensure that financial transactions are correctly recorded according to the approved budgets and work plans in accordance with UNDP financial rules and regulations;
- Support Country offices in asset management in financial recognition, recording, and reporting;
- Support Country offices in grant closings by reviewing the final reports, final refunds, and asset transfers.
- Prepare financial analytical reports and co-ordinate with Country Offices to verify outstanding financial and/or administrative issues that require reconciliations;
- Analyze and maintain financial oversight for Global Fund resources managed by the Country Offices and at the Sub-recipient level;
- Prepare quarterly, bi-annual and Adhoc reports at the Country Office and corporate levels to track delivery of all Global Fund projects and other health projects for the management and program teams; and
- Prepare management reports for Country Office and HQ managers on Global, Regional, Country portfolio, grant status.
3. Provide support to Country Offices for accurate and timely financial reporting to donors, and risk management focusing on the achievement of the following results:
- Advise Country Offices on procedures for reporting to the Global Fund, including but not limited to quarterly reports and disbursement requests, cash balance requests, annual reports, grant renewal applications, concept notes, Sub-recipient financial management and asset management reports through desk support and missions, as needed in coordination with GF/HIST Country Team;
- Co-ordinate and support Country Offices with the timely submission of financial/programmatic reports required by donors;
- Conduct periodic review of financial exception reports including financial statement items, liaise closely with OFM as well as Country Offices, to resolve issues and take appropriate corrective actions;
- In coordination with Finance Advisor, support Country Offices throughout the audit process ensuring effective planning, including timely follow up on audit recommendations and findings from the Office of Audit and Investigations (OAI), the Global Fund’s Office of Inspector General, and Sub-recipient audit reports including, financial management, Sub-recipient management, and asset management;
- Support in the analysis of audit and investigation recommendations and findings (OAI, Sub-recipient audits) with the development of action plans to address recurring issues in the areas of financial management, Sub-recipient management, and asset management, including through innovative approaches, developing policies, procedures, guidance materials, and training in coordination with Finance Advisor and Country Team;
- Support the Country Team in recovery actions in coordination with Country Offices, OAI, Regional and Central Bureaus, and the Global Fund;
- Support Country Offices on the operational and financial year-end closures and closure for completed projects within the mandated period in order to meet the reporting requirements of donors and UNDP procedures; and
- Support the Finance Advisor to oversee the transparency of the financial processes at the Country Office and Sub-recipient level to ensure compliance with Global Fund and UNDP financial guidelines; and
- Report on project delivery on a regular basis in coordination with the Country Team and provide advice on gaps in delivery and required budget revisions and re-programming.
4. Ensure capacity building and knowledge building and sharing for the effective financial management of donor-funded health programs and partnership and resource mobilization efforts, focusing on the achievement of the following results:
- Support the Finance Advisor in the timely development and updating of financial management, Sub-recipient management, enhancement of Atlas and Hyperion reports, and asset management related tools, guidance, SOPs, and manuals used by Country Offices and Sub-recipients;
- Support the identification and perform knowledge extraction, codification of results/lessons learned in the financial management of donor-funded programs, Sub-recipient management, and asset management and verify that knowledge sharing, and content management is in line with corporate guidance and tools;
- Synthesis of lessons learned and sharing of best practices in financial management, Sub-recipient management, and asset management support creating strong evidence base of results and impact through conducting a survey, research, case studies, crowdsourcing through online portals;
- Capacity building of sub-recipients and other national partners on overall financial management, Sub-recipient management and asset management in coordination with the Country Team, if necessary;
- Support the Finance Advisor, in the focal point role on financial management, Sub-recipient management and asset management for Global Fund, and other partners, including (e.g., PAHO, UNFPA, UNICEF, WFP, WHO) and resource mobilization efforts.
5. Support the GF HIST in the roll-out of the Quantum Cloud ERP, focusing on the achievement of the following results:
- Review the setup and data configuration of new ERP and assess its impact on the current financial management reports for the GF financed projects;
- Propose business requirements for the financial reports based on the latest financial reporting requirements of the GF in view of sourcing the financial management information from one data source;
- Assess the impact of the final ERP setup on Hyperion and work closely with the service provided to change the business specifications of the current reports and seek solutions for seamless integration of Hyperion data to the corporate data management warehouse;
- Data cleansing; GL reconciliations and User testing;
- Supporting new ERP financial management training for HQ and field staff;
- Assist in drafting amendments to assigned financial management procedures and reports;
- Providing Helpdesk support where continued funding is provided; and
- Update “focused” guidelines/SOPs on financial management for the program.
Required Skills and Experience
Minimum Academic Education:
- Master’s Degree in Accounting, Finance, Business or Public Administration or related field;
- Professional accounting qualification from an internationally accredited institute of accountancy will have a distinctive advantage;
- Candidates without a professional accounting qualification from an internationally accredited institute of accountancy will be required to take the Advanced UNDP Accountancy and Finance Test.
Minimum years of relevant Work experience:
- A minimum of 5 years experience in the area of resource management of program projects and financial reporting in UNDP/and or UN agency.
Required skills and competencies:
- Strong familiarity with Global Fund’s financial management, systems, processes, and reporting.
Desired additional skills and competencies:
- Experience working with national counterparts in the area of financial management is an asset;
- A sound and detailed understanding of the UN Environment, and the Finance and Accounting policies of UN and/or UNDP is an asset;
- Experience in the financial management of implementing partners and responsible parties, including Global Fund Sub-recipients is an asset;
- Experience in building financial management monitoring tools such as Powerbi is an asset;
- Experience in audit in the area of financial management is an asset;
- In-depth knowledge of ERP Financials, Peoplesoft, and Hyperion is an asset.
- Fluency in written and spoken English;
- Knowledge of an additional UN language is an asset.
We do our best to provide you the most accurate info, but closing dates may be wrong on our site. Please check on the recruiting organization's page for the exact info. Candidates are responsible for complying with deadlines and are encouraged to submit applications well ahead.
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