Associate Vice-President, Financial Operations Department, Rome

Associate Vice-President, Financial Operations Department, IFAD Rome- AVP/FOD

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ID 25509

Location ROME

Date of issue 12/23/2024

Close Date (Midnight, Rome Time) 02/01/2025

Organizational Unit Front Office Financial Op

Full/Part Time Full-Time

Regular/Temporary Regular

Assignment Duration 2 Years

Grade APR

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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, strategic and responsive business partner responsible to set and implement IFAD's financial strategy and manage its financial and material resources. FOD ensures that IFAD's resources are efficiently, economically and effectively used to achieve the Fund's objectives in the long-term, safeguarding IFAD's financial sustainability, and delivering on its development commitments. FOD is led by the Associate Vice President & Chief Financial Officer and is comprised of three (3) divisions:

• the Treasury Services Division (TRE)
• the Financial Controller's Division (FCD)
• Procurement and Financial Management Division (PFM)
• Development Finance (DF) team.

The Treasury Services Division (TRE) protects IFAD's financial sustainability and credit rating ensuring a prudent leverage strategy in line with IFAD's mission, efficient and effective management of IFAD's liquidity, timely and accurate settlement of all incoming and outgoing payments, and robust financial planning and ALM risk management, while providing innovative and financially responsible solutions to IFAD's borrowers.

The Financial Controller's Division (FCD) safeguards financial integrity, including the financial statements audit processes and the internal control system assessment, drives innovative, efficient, and technology-driven solutions in financial reporting, loan portfolio management and servicing, disbursements, integrity, and controllership, ensuring IFAD remains robust and financially sound.

The Procurement and Financial Management Division (PFM) ensures a robust fiduciary system across IFAD operations, identifying and mitigating project procurement and project financial management risks through rigorous processes and controls.

The Development Finance (DF) team develops thematic and sectorial innovative financing solutions including the design of IFAD's concessional lending terms, concessionality assessment of IFAD's Programme of Loans and Grants and new lending products.

Job Role

The AVP, as a member of the executive management team, heads the designated Department of IFAD. They have the responsibility to lead their divisions to achieve IFAD's vision and mission; organizational change, policy implementation and corporate development by ensuring the technical quality of IFAD's programme of work and encouraging a focus on outputs, outcomes and results whilst encouraging innovation. As the Head of the Department, the AVP provides leadership to approximately 100 staff in the Department and ensures that high morale is maintained, paying particular attention to staff located outside headquarters. In this regard, the AVP has the overall responsibility to ensure the Department is adequately staffed with the requisite competencies and skills to deliver its annual programme. The AVP is also responsible for the prudent and efficient management of the financial resources made available to the Department annually.

As a member of the senior management team of IFAD, internally, the AVP is expected to contribute to corporate and operational policy discussions and decisions of the Executive Management Committee (EMC), chaired by the President of IFAD, the Operations Management Committee (OMC) and Enterprise Risk Management Committee (ERMC), chaired by the Vice President. Externally, the AVP FOD is an active contributor in Member State proceedings at all levels, including the Governing Council, Executive Board, Audit Committee of the Executive Board, and other Governing Body meetings.

Position specifics: In particular, the AVP, FOD leads the work of IFAD's Financial Operations Department (FOD) to provide strategic and technical leadership for the Fund's corporate finance, treasury management, controllership, and project procurement and financial management, and spearheading the development of new financial products that can further raise IFAD's profile as an assembler of Development Finance for both sovereign and non-sovereign operations. Through the divisions under management, the AVP ensures IFAD's long term sustainability, from both a capital and liquidity management perspective, while also ensuring sound project fiduciary management standards.

The AVP, as also the CFO of IFAD, has the overall responsibility to protect the financial health of the organization, ensuring adherence to financial and risk management policies, safeguarding the credit rating of the Fund, and IFAD's long-standing clean audit opinion. This includes oversight of all activities impacting the Fund's capital adequacy, balance sheet optimization, financial reporting, and mobilisation of structured financial resources in alignment with the Fund's strategy.

As an EMC member, and CFO of a multilateral development organization structured as a concessional replenishment fund, the AVP also has the responsibility to ensure the Fund can deliver IFAD's mission from a financial strategy perspective, i.e. to provide its borrowers and recipients a financial offer that can sustainably serve the world's poorest rural communities through IFAD's pledge to focus its financial resources on Low and Lower Middle Income Countries, while ensuring universality serving areas of need in Upper Middle Income Countries. To this end, the AVP FOD leads the articulation and implementation of IFAD's financing framework, as a key enabler of IFAD's business model.

Key Functions and Results

1. STRATEGIC PROGRAMME DIRECTION AND IFAD

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• S MISSION: The AVP leads the work of IFAD's Department by:
  • providing strategic leadership and guidance to Division Directors and its staff on IFAD's mandate and - guiding, directing and seeking continual improvements in the organization's partnership and fundraising activities with governments, the United Nations system, including Rome-based agencies, IFIs including MDBs, and the private sector by contributing to: (i) discussions on IFAD's strategic direction; (ii) IFAD's corporate knowledge management agenda.

They strategically lead and assume ownership of ensuring and managing appropriate internal control mechanisms for mitigating risks in line with the applicable organizational framework and policies for risk management, and in line with the mandates of the Department.

2. ORGANIZATIONAL CHANGE AND POLICY STRATEGY: The AVP acts as a champion for change, promoting and endorsing solutions to intractable challenges and has an entrepreneurial and creative approach to developing new, innovative ideas that will stretch the organization and push the boundaries within the industry. They encourage evidence-based knowledge generation and its dissemination in all activities and contribute to resource mobilization activities and to evidence-based policy making at the international, national, and local level to advocate for the extreme poor and food insecure in rural areas. Furthermore, the AVP mobilises and manages supplementary funds to finance activities relevant to IFAD's mandate. The AVP advocates the Organization's policy positions and communicates IFAD's messages at HQ and regional level. In order to promote organizational change and keep abreast of technology advancement they set clear priorities for the Department and lead by example.

3. CORPORATE DEVELOPMENT AND RESULTS BASED MANAGEMENT: The AVP leads and contributes to the corporate development effectiveness agenda and plans, monitors and controls IFAD's collaboration with its member countries and institutional partners, in accordance with agreed priorities, approved programme/budgets, strategic objectives and corporate policies. They promote the development of rigorous evaluations, reviews, analysis, and lessons to inform IFAD's lending and non-lending portfolio (including country programme strategies, policy engagement initiatives, etc.), particularly on issues surrounding food security, agriculture, and rural development. The AVP oversees the development and implementation of the annual programme and budget of the Department in the context of IFAD's Strategic Framework and IFAD Replenishment Commitments and provides guidance in the assessment and reporting of corporate impacts of IFAD's funded projects.

4. PARTNERSHIPS, REPRESENTATION, AND INFLUENCE: The AVP develops and maintains good collaboration with strategic partner organisations, which among other partnership priorities, can help drive mobilisation of resources from the financial sector and private sector as desirable. They participate in IFAD public relations and outreach with the public, other donors, and client countries. They closely collaborate with other Departments in discussions and dialogue on development policy issues and leads the prioritization of IFAD's work in close consultation with global and regional development organizations. Furthermore, they advance, with Government and the other IFI and UN Country Team and relevant regional entities, regional knowledge-sharing and collaboration, south-south and triangular exchanges, multi-country, and transboundary initiatives in pursuit of greater system-wide results and impact on the implementation of IFAD's mandate. Together with the other UN development system entities, they engage, convene and forge strategic partnerships at the national and regional level with diverse entities including with civil society, trade unions and employers- organizations, networks of young people, the private sector, parliamentarians, academia, media and think tanks, and the broader development community. They promote ideas and optimal service practice to a multi-cultural, diverse audience and set clear and challenging goals while committing the organization to improved performance; tenacious and accountable in driving results while being comfortable with ambiguity and uncertainty.

5. MANAGEMENT OF RESOURCES: AVPs are accountable for integrity, transparency, and equity in the management of IFAD resources, human, financial and material in their Department.

Position specifics: 6. FINANCIAL STRATEGIC PROGRAMME DIRECTION: The AVP, FOD leads the work of IFAD's Financial Operations Department by:

• providing strategic leadership and guidance to FCD, PFM & TRE Directors and its staff on IFAD's mandate and - guiding, directing and seeking continual improvements in the organization's partnership and fundraising activities with governments, the United Nations system, including Rome-based agencies, multilateral development finance institutions and the private sector, contributing to: i. the achievement of IFAD's strategic and development objectives; ii. achievement of IFAD's replenishment commitments agreed with Member States; iii. raising IFAD's profile as a development finance institution; and iv. influencing IFAD's corporate knowledge management agenda obtaining corporate buy-in for IFAD's financial objectives and strategy.

The AVP FOD strategically leads and oversees the Financial Operations Department (FOD) in their vision and mission as a dynamic business, strategic and responsive service provider fully supporting IFAD in managing its financial and material resources. FOD ensures that these resources are efficiently, economically, and effectively used to achieve IFAD's objectives in the short and long-term and deliver on its development commitments.

The AVP, FOD will:

• Provide strategic financial vision and leadership to support the achievement of IFAD's development objectives; - Aim to maintain IFAD's credit rating by developing, implementing, maintaining, and adhering to sound and effective policies that ensure the Fund's financial integrity, discipline, and long-term financial sustainability; - Execute the Department's yearly work programme that contributes to the above; - Raise IFAD's visibility and relevance as a Development Finance Institution in the global development landscape; - Oversee highly skilled interdisciplinary and multi-cultural professionals to support the development of innovative and effective financial solutions that strengthen FOD's ability to effectively meet business needs, ensuring proper coordination between FOD divisions and other departments; and - Oversee Human Resources and budget decisions for the Department.

To support IFAD's mission to enable poor rural people overcome poverty, FOD's key contributions are:

• Funding and managing IFAD's financial resources proactively and make these resources available as needed for its programme of work and maintain continued confidence in IFAD by all stakeholders through adherence to IFAD policies and enterprise-wide Internal Control Framework at all times, and sound accounting and financial reporting processes, ensuring a continued clean audit opinion for IFAD. - Investing and managing IFAD's financial assets not immediately needed in line with operational requirements; formulating and implementing investment policies to maximize returns, with the goal of preserving capital, and with due regards to regulations, rules, and IFAD's business context. - Supporting IFAD's Country Office (ICO) programme by ensuring that adequate financial management and procurement is provided, and internal controls are applied. - Ensuring funds are used for purposes intended through effective and efficient financial management and procurement as well as project supervision practices. - Supporting the preparation of IFAD's results-based budget and its presentation to IFAD's Governing bodies, as well monitoring actual budget usage versus external and internal benchmarks to support the dynamic reallocation of resources across priorities and to enhance overall administrative efficiency. - Providing information (programme, financial) to officers, governing bodies and oversight, and other IFAD partners and stakeholders to ensure an effective basis for decision making and day-to-day work. - Playing an active role in the dialogue under the UN system as well as within the framework of Rome-based Agencies, as IFAD implements the on-going initiatives on administrative and management matters through the High-Level Committee on Management (HLCM) as well as the Inter-Institutional Coordination Committee (IICC).

Key Performance Indicators

Within IFAD's overall Strategic Framework and Medium Term Plan, AVPs establish IFAD's priorities for and provide:

• leadership to departamental level programme; - oversight of operational management activities; - accountability for a results-based approach to meeting IFAD's vision and the mission; and - identification and mitigation of risks.

Leadership activities include the optimum utilization of human, financial, technology and material resources for the achievement of greater efficiency and effectiveness.

The incumbents' impact extends beyond the successful achievement of departamental goals and objectives to include larger

• organizational goals and objectives in strategic planning collaboration. The expected results directly and/or indirectly benefit the ultimate stakeholders, the rural poor in developing countries and have a direct impact on the organizational reputation.

The key performance indicators for AVPs include leadership in viable strategic planning, authoritative and relevant policy development and advice, sustainable programme decisions and integrity and accountability in the planning and management of the Fund's human, financial and material resources assigned to the department.

Position-specifics: The AVP, FOD is responsible to ensure the Fund's adherence to its financial and risk management policies, procedures, and prudential limits, resulting in the maintenance of IFAD's credit rating and long-standing clean audit opinion - with due regard to IFAD's strategic, operational, reputational, and legal risks. They are responsible to set a sound financial strategy and oversee its implementation, providing the necessary resources and guidance to enable divisions to achieve their targets and objectives. They also have a strong grasp of ongoing and/or emerging financial risks that could adversely impact the Fund and is able to articulate and communicate complex financial matters to non-financial audiences, provoking motivation, trust and buy-in from various internal and external stakeholders. The AVP FOD is an active speaker in internal and external engagements to raise awareness of IFAD's mission, key achievements, and development objectives. They have a strong external network that can support the execution of IFAD's financial and operational objectives and can support the Department's capacity building needs. They lead by example and maintain high staff morale.

Working Relationships

Within IFAD, AVPs provide authoritative advice to senior management on the department's or division's vision, strategic planning, policy, and divisional programme and operational management. They are accountable for collaboration and coordination within the Fund to ensure appropriate consultation, cross-functional synergy and coordination of programme planning and activities.

Externally, AVPs develop strategic partnerships and collaborative relationships with counterparts spanning a broad range of institutions including borrowers, bilateral and multilateral development agencies, UN agencies, funds and programmes, IFls, non-governmental organizations and academic institutions for the purpose of programme co-operation, knowledge sharing, policy dialogue and/or resource mobilization. They are also accountable for the provision of authoritative advice during the annual Governing Council and related subordinate bodies including the Executive Board, Audit and Evaluation Committees.

AVPs represent the Fund in official United Nations committees and networks, and in international financial institution, multilateral and bilateral meetings, symposia, fora and conferences upon request of the President, and build organizational networks with peers in major private, public and international financial institutions.

Position specific: Internally, the AVP is expected to attend the IFAD Management Team meeting (IMT), the Replenishment Coordination Committee (RCC), the Oversight Steering Committee (OSC), the Executive Management Committee (EMC), the Enterprise Risk Management Committee (ERMC), the Resource Mobilisation Committee (RMC), the Financial Risk Management Committee (FRMC) and the IT Governance Committee (ITGC). The AVP, FOD builds strong relationships internally with other AVPs to ensure the smooth execution of IFAD's programme of work.

Externally, the AVP plays a key role in Executive Board meetings, the Audit Committee of the Executive Board, the Governing Council, and other Governing Body meetings, including Replenishment Consultations. The AVP, FOD has a strong network among multi-lateral development banks, international financial institutions, Financial Services and Capital Markets firms, credit rating agencies, and external audit firms.

Job Profile Requirements

Organizational Competencies - Strategic thinking and organizational development: Strategic leadership - Demonstrating Leadership: Leads by example; initiates and supports change - Learning, sharing knowledge and innovating: Challenges, innovates and contributes to a learning culture - Focusing on clients: Contributes to a client-focused culture - Problem solving and decision making: Solves complex problems and makes decisions that have wider corporate impact - Managing time, resources and information: Coordinates wider use of time, information and/or resources - Team Work: Fosters a cohesive team environment - Communicating and negotiating: Acquires and uses a wide range of communication styles and skills - Building relationships and partnerships: Builds and maintains strategic partnerships internally and externally - Managing performance and developing staff: Manages staff and teams effectively

Education: - Level - Advanced university degree. - Areas - economics, management, business administration, finance, diplomacy, communications, corporate governance, political sciences, international relations, international development, law or in any other relevant area. - Degree must be an accredited institution listed on https://www.whed.net/home.php .

Certifications: Work experience: - At least twenty (20) years of progressively responsible professional experience, including management experience within a Development Financial Institution, Multilateral or Public Development Bank, and/or public and private international financial institution.

Position-specific experience: - At least fifteen (15) years of relevant senior experience in international finance, treasury, funding and debt capital markets, combined with a detailed knowledge of rating agency methodologies, asset liability and liquidity management, and other relevant work in an international financial institution. - Demonstrated leadership experience with strategic vision and proven skills to manage the balance sheet of a complex international financial institution and to provide operational support and financial services on a global scope. - Demonstrated leadership experience with proven skills in change management, reform, organizational development and leading organizational transformations as well as the ability to mobilise various forms of support from multi-stakeholders and partners. - Extensive and proven managerial experience in organizations with staff of diverse cultural backgrounds in multiple locations and act as an inspirational leader with a focus on people management and a strong ability to attract, select, and motivate talented and diverse staff; an outstanding, effective manager who models inclusive behaviors and promotes diversity - Experience in working with tight deadlines with multiple priorities, with strong partnership skills to enable positive engagement at all levels in and outside the Department. - Strong understanding of the operational frameworks of the public sector and/or multilateral institutions - Strong business acumen and negotiation skills proven to yield positive outcomes internally and externally. - Prior experience acting in a similar role in a development bank, financial services industry, private bank or investment firm, is desirable.

Languages: - Required English (4 - Excellent) - Desirable: French, Spanish, or Arabic

Skills: Job role specific - Leadership, Group thought leader, sought out by others, and providing mentorship and effective guidance to others; Ability to build trust, inside and outside the organization by acting as a role model for IFAD's core values and competencies, and to provide a clear sense of direction, mentorship and effective guidance to the team, strategizing the IFAD's goals, giving the vision, empowering the team and ensuring a positive environment for all; - Performance management: Know-how in managing performance, staff performance evaluation and learning management, establishing clear performance objectives (technical and behavioural) and learning plans, and ensuring staff supervised deliver on the agreed objectives and meet their development needs while meeting the needs of IFAD; - Verbal communication, Clear, succinct, and convincing verbal communication; highly professional, balanced and diplomatic language; - Strategic mindset, Proactive, ongoing identification of strategic opportunities, potential synergies, and partnerships; - Political acumen, Ability to conduct sound political analysis and understand complex environments, providing options and advice; - Collaboration, Successfully work toward a common goal with others by communicating clearly, actively listening to others, taking responsibility for mistakes, and respecting different perspectives of stakeholders; - Stakeholder management, Strong alignment capabilities and consultation skills, building on effective interactions and relationships with different stakeholders (e.g., for the co-creation of communication material with member states) and ability to build and maintain a strong network (e.g., with journalists, media outlets, etc.); - Change management, Role modelling, anticipation of key risks & conflicts and formulation of contingency plans/solutions, action-oriented; - Advocacy, Know-how in advocacy, to maintain and promote constructive dialogue around IFAD's vision to external actors; - Specialized communication skills, Ability to negotiate on behalf of IFAD and drive for creative and pragmatic solutions in complex negotiations with key partners, both public and private sector; - Planning, Know-how in the planning of human, financial and material management of IFAD resources; - Resources management, Know-how in the management of human, financial and material management of IFAD resources; - Integrity and ethics, Strong emphasis on acting with honesty, not tolerating unethical behaviour, demonstrating equity, impartiality and sensitivity in exercising authority and interacting with staff, and other stakeholders. Conduct must be guided by IFAD core values, the Code of conduct and a high sense of ethics;

Position specific: - Policy dialogue, Know-how in the effective dialogue with ministries of finance, explaining lending terms and providing advice for debt management; - IFAD financing strategy, Expertise on the Fund's governing and financial structure, mandate, long-term business strategy, financial rules, and regulations; - Capital market instruments, Knowledge of capital markets instruments (fixed income, derivatives, loans), risk and performance metrics and quantitative tools of fixed income valuation (cash flow, present value, interest rate risk, duration, etc.); - Development finance, Know-how in debt, lending terms, financial policies including pricing, concessionality and resource allocation; - Controllership, Know-how in internal control design, setup, mapping, and monitoring including policies and tools development; - Risk & compliance, Know-how in asset liability management, risk reporting, capital adequacy, quality assurance and compliance (e.g. Anti-money laundering (AML), Know your customer (KYC) processes), etc.; - Climate Finance, Finance that aims at reducing emissions, and enhancing sinks of greenhouse gases and aims at reducing vulnerability of, and maintaining and increasing the resilience of, human and ecological systems to negative climate change impacts; - Project financial management, Excellent know-how in project financial management, e.g., internal controls, rural investments, project audit and funds flows;

Other Information

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 D iversity, Equity and Inclusion (DEI) Strategy and the Policy to prevent and respond to sexual harassment, sexual exploitation and abuse .

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