Finance Specialist

Under the direct supervision of the Support Services Manager and overall guidance of the Head of Project Unit, the Finance Specialist will be responsible for achieving the following:

Summary of Key Functions

A. Implementation of project financial management.

B. Budget planning and management.

C. Project cash and treasury management.

D. Project financial reporting.

E. Team Management.

E. Knowledge building and knowledge sharing. A. Implementation of project financial management 

Ensures the implementation of project financial management , focusing on the achievement of the following results:

• Ensure the management and accounting of project contributions management and accounting for contributions to ensure that funds due to the project are properly identified, consistently and uniformly classified, recorded on a timely basis and received with sufficient supporting documentation.

• Proper planning, expenditure tracking and control on the utilization of the CRLP financial resources.

• Lead the project’s finance business processes mapping and elaboration/establishment of internal standard operating procedures; control of the workflows in the project.

• Advice project senior management on sound financial resources management.

• Provide guidance on requirements for handling project transactions concerning UNOPS’ financial practices and rules.

• Support the analysis and monitoring of the financial situation, presentation of forecasts for the project, and provides recommendations on appropriate measures to meet project needs.

• Identify financial risks and develop mitigation strategies.

• Develop a recommendation report to enhance the project’s current monitoring mechanism.

• Provide advice to the Head of Project and the Support Services Manager on how to implement the recommendation report and support the delivery of the recommendations to senior management.

• Full compliance of project financial activities, financial recording/reporting system and audit follow up with UN/UNOPS rules, regulations, policies and strategies and IPSAS standards.

• Monitor project financial exception reports for unusual activities, transactions, and investigate anomalies or unusual transactions. Provision of information to supervisors and other UNOPS staff at HQ on the results of the investigation when satisfactory answers are not obtained.

Manages the project budgets focusing on achievement of the following results:

• Manage financial resources through planning, guiding, and controlling them in accordance with UNOPS rules and regulations.

• Prepare and monitor project’s budget,

• Process project budget revisions upon authorization by the Senior Management (can be done only on the basis of signed documents and project budgets).

• Elaborate mechanisms to eliminate deficiencies in budget management.

• Prepare budget variance reports.

• Elaborate an internal control framework to ensure that payment requests (RfP) are processed, e-matched and completed, financial transactions are correctly recorded and posted in Enterprise system (ERP); travel claims and other entitlements are duly processed and timely receipting of goods and services in the ERP system.

Ensures effective project cash management systems focusing on achievement of the following results:

• Review the monthly and quarterly cash flow requirements for the project on a timely basis to ensure sufficient funds are on hand for disbursements.

• Conduct weekly reviews of the project's cash balances in the Enterprise system to ensure adequate cash to meet the project’s payment and fund commitment needs. 

• Maintain regular communication with the Admin and Procurement team to monitor, track, and facilitate the timely processing of planned and pending payments, ensuring cash availability aligns with operational needs.

• Timely and accurate approval of bank reconciliation of the project’s operational account, including documented review of exceptions.

• Timely preparation of monthly cash-flow forecasts for use by UNOPS Treasury to fund the local bank accounts.

• Timely reconciliation of FPs escrow accounts and the UNOPS operational pass-through account.

• Prepare regular Interim Unaudited Financial Reports (IUFRs), in the prescribed format.

• Prepare and submit the Contribution Tranche requests in prescribed format.

• Facilitate the engagement and provision of high-quality results and services of the team supervised through effective recruitment, work planning, performance management, coaching, and promotion of learning and development.

• Provide oversight, ensuring compliance by team members with existing policies and best practices.

• Serve as the OIC, Support Services Manager in their absence.

• Organize, facilitate and/or deliver training and learning initiatives for project personnel on finance related topics.

• Lead, approve and conduct initiatives on capacity development and knowledge building for project finance personnel, including network development, plans, learning plans and activities, finance practice information and best practice benchmarking.

• Oversee team’s contributions to finance knowledge networks and communities of practice including collaborative synthesis of lessons learnt and dissemination of best practices in human resources management.

• Guide team’s collection of feedback, ideas, and internal knowledge about processes and best practices and utilize productively.

Impacts of Result

The effective and successful achievement of results by the Finance Specialist directly impacts on the availability of the project’s financial resources to effectively develop and implement the project. It enhances the project’s financial and project performance, demonstrating UNOPS’ effective stewardship of donor and partner funds. These promote the credibility of the organization as an effective service provider in project services and management.

Education and Minimum Years of Experience: 

• Advanced university degree (master or equivalent) with a minimum of 5 years of relevant experience, OR 

• First level university degree (bachelor or equivalent) with a minimum of 7 years relevant experience.

Experience

• Relevant experience is defined as experience in Financial Management and accounting with responsibility for project accounting and preparation of financial statements in a computerized environment.  

• Knowledge of UN financial regulations and rules; with special emphasis on application of IPSAS to financial reporting is required.

• Experience with any reputable Enterprise Resource Planning (ERP) Financial application is desired.

• Solid computer skills, including proficiency in google suite is required.

Language: 

• Fluency in English (reading, writing, speaking) is required 

• Fluency in another UN official language is desired