Project Finance Specialist

As the United Nations lead agency on international development, UNDP works in 170 countries and territories to eradicate poverty and reduce inequality. We help countries to develop policies, leadership skills, partnering abilities, institutional capabilities, and to build resilience to achieve the Sustainable Development Goals. Our work is concentrated in three focus areas; sustainable development, democratic governance and peace building, and climate and disaster resilience. UNDP’s mandate is to end poverty, build democratic governance, rule of law, and inclusive institutions. We advocate for change, and connect countries to knowledge, experience and resources to help people build a better life.

The Health System Strengthening (HSS) project team within the UNDP India Country Office Health Unit is responsible for the financial management of multiple funding streams, including Gavi funding for the HSS III project (U-WIN, Community of Practice – Demand, and Data Analytics) as well as state contributions from nearly all Indian states for the ongoing implementation of the eVIN initiative. The project is implemented in all Indian states and involves engagement with different implementing partners and consultants, leading to a large volume of transactions covering diverse activities. At the same time, the transition of eVIN funding from Gavi support to state-level financing (HSS II) requires systematic financial oversight, efficient cash flow management, and timely financial reporting to ensure uninterrupted project operations.

To strengthen financial management and enhance efficiency in managing donor funding, state contributions, and expenditures, the HSS team is seeking a Finance Specialist.

The Finance Specialist will play a pivotal role in ensuring sound financial management for the UNDP Health Systems Strengthening (HSS) Project. Working in close collaboration with the HSS Project team and the Country Office’s Finance and Operations units, the Finance Specialist will be responsible for managing budgets, tracking expenditures, and ensuring full compliance with UNDP and donor financial regulations.

A key focus of this role is maintaining financial accuracy and integrity across all transactions, while developing efficient tracking and reporting systems that support timely audits and uphold the highest standards of transparency and accountability. The Project Finance Specialist will also lead financial forecasting and analysis efforts, helping anticipate funding needs and align resources with project priorities.

The role includes supporting effective work planning in relation to budget utilization, ensuring that activities are planned, costed, and implemented within approved financial frameworks. Strengthening the coordination between finance, regional, and state teams, the Finance Specialist will work to enhance financial sustainability, optimize resource allocation, and build financial management capacity across the project.

Key responsibilities include driving financial strategy, improving compliance and reporting mechanisms, ensuring accurate forecasting, and linking work planning processes to budget management for effective project delivery.

The Project Finance Specialist will report directly to the Project Manager of the Health Systems Strengthening (HSS) Project, who will provide strategic guidance, performance oversight, and overall direction.

The Project Finance Specialist will work in close coordination with the Project Operations Analyst to ensure integrated planning and smooth implementation of financial and operational functions within the project. This collaboration will be essential for aligning financial management with procurement, human resources, and administrative workflows.

The Project Finance Specialist will also supervise the Project Finance Associate, providing day-to-day direction, quality assurance, and capacity development support. The Finance Associate will report to the Finance Specialist for functional responsibilities, contributing to the overall efficiency and compliance of the project’s financial operations.

1. Ensure implementation of financial and operational strategies, adapt processes and procedures focusing on the achievement of the following results:
• Ensure full compliance with UN/UNDP rules, regulations, and policies of financial activities, financial recording/reporting system, and follow-up on audit recommendations.
• Implementation of effective internal controls, proper functioning of a client-oriented financial resources management system;
• Undertake management of financial cost sharing and cost sharing agreements;
• ensuring elaboration of proposals and implementation of cost-saving and reduction strategies in consultations with the project team;
• Proactively assist in continuous analysis and monitoring of the financial situation, and presentation of forecasts for the project.
• Monitoring financial reports for unusual activities, transactions, and investigating anomalies regularly

2. Financial Oversight & Reporting:
• Ensuring the timely preparation and submission of Statement of Expenditure and financial reports while ensuring accuracy and compliance with UNDP policies and donor requirements.
• Guiding and leading the project’s finance, managing outstanding financial claims by expediting the certification process and settlement of pending payments to maintain smooth financial operations, pre-finance mechanisms, and avoiding fund utilization gaps.
• Designing, refining, and implementing financial tracking systems for real-time monitoring of state contributions, pending claims, and cash flow.
• Developing financial forecasting models to support budget planning and fund allocation strategies.
• Ensuring an efficient financial flow process while identifying and addressing bottlenecks.
• Provide high-level financial analysis and strategic recommendations to project leadership for informed decision-making.
• Review multi-donor budgets and ensure accurate budget processing in the system, aligning with approved work plans.
• Identify gaps between the budget and expenditures and highlight them for corrective action.

3. Process Optimization and Operational Efficiency:
• Reviewing existing processes for expenditure, certification, cross-charging, and payment mechanisms.
• Lead the backlog clearance of financial certifications and ensure the system is streamlined for future financial reporting.
• Maintaining a document management system and financial records to improve audit readiness and compliance.
• Leverage technology to design financial tracking dashboards for real-time, comprehensive monitoring of multi-donor budgets and fund utilization.

4. Risk Management and Compliance Strengthening:
• Establish a proactive risk management system to mitigate financial risks, including cash flow shortages and funding gaps.
• Ensuring compliance with UNDP financial regulations, donor requirements, internal controls, and accountability mechanisms.
• Supporting audit preparations and responses to audits by UNDP and donors, in line with donor agreements, UNDP rules and regulations, policies, and procedures, and ensuring the timely implementation of audit recommendations and findings.
• Develop and institutionalize SOPs to streamline financial management and donor funding.
• Conducting periodic internal reviews to proactively identify financial compliance issues and address them before audits.
• Ensure that the project team adheres to the approved agreements regarding financial allocations, preventing unauthorized deviations in spending.
• Provide financial quality assurance to maintain adherence to project budgets and donor conditions.

5. Management of Staff and Coordination:
• Supervise and provide performance management support to the Project Finance Associate.
• Ensure effective workload distribution and oversight of financial documentation prepared by the Project Finance Associate.
• Conduct periodic performance reviews, providing guidance and capacity-building to enhance staff competencies.
Promote a collaborative work environment and ensure alignment of financial responsibilities within the team.

6. Capacity Building & Coordination
• Providing technical guidance to finance and relevant project colleagues on financial documentation, reporting standards, and overall finance management.
• Foster cross-functional collaboration between CO finance, programme, and procurement teams to ensure seamless financial management through improved cross-functional workflows.
• Establish clear communication mechanisms for financial updates, reporting, and decision-making.
• Conducting capacity-building sessions for regional project analysts and operations associates to build long-term financial management capacity and ensure consistent financial practices.

7. Knowledge Building and Sharing
• Documenting lessons learned from financial management processes and recommending improvements for future projects linked to Government financing.
• Contribute to the development of financial best practices for government-financed health initiatives.