Functional Responsibilities Under the direct supervision of the Senior Project Manager and technical supervision of the Head of Finance/Finance Specialist, the Finance Specialist acts as an advisor on all aspects of financial management and operations. This includes strategic financial resources management, within UNOPs rules and regulations. S/he leads the financial management operation, ensuring financial integrity of the Business Units programmes/ projects operations, consistent delivery of efficient and effective financial management services to the client office, primarily, Budget Preparation and Management; Cash Management and Treasury functions; and Control of Accounts and Payments. Leading and guiding the project financial management Team, s/he fosters collaboration within the team, with programme staff and with other stakeholders with a client-oriented approach. The incumbent provides solutions to a wide spectrum of complex financial management issues, maintains oversight over the financial management of projects promotes a collaborative, client-oriented approach.
Functions/Key Results Expected
Implementation of operational and financial management strategies Budget management and organization of the cost-recovery system Control of office accounts Control of office cash management Team Management Knowledge building and knowledge sharing Implementation of operational and financial management strategies
Ensures the implementation of operational and financial management strategies, focusing on the achievement of the following results: Advice to on strategic financial resources management; Authoritative interpretation of requirements for handling transactions advice and guidance concerning UNOPS financial practices and rules; Operational efficiency of the managerial or accounting aspects of the areas managed; Continuous analysis and monitoring of the financial situation, presentation of forecasts for projects; Full compliance of financial activities, financial recording/reporting system and audit follow up with UN/UNOPS rules, regulations, policies and strategies and IPSAS standards; Implementation of the effective internal control, proper design and functioning of the financial resources management system; Proper management of the contributions management and accounting for contributions to ensure that funds due to UNOPS are properly identified, consistently and uniformly classified, recorded on a timely basis and received with sufficient supporting documentation; Performance of appropriate role in Enterprise system for transactions approvals and bank reconciliation; Approvals authority of pending disbursements (cheques, bank transfers, EFT) and bank reconciliations; Monitoring of financial exception reports for unusual activities, transactions and investigation of anomalies or unusual transactions; Member of bank signatory panel; Proper planning, expenditure tracking and audit of financial resources, including extra-budgetary income in accordance with UNOPS rules and regulations; Control of the workflows in the Finance Unit; Elaboration of the framework and conditions of contributions within the Business Units resources mobilization efforts; Elaboration and implementation of cost saving and reduction strategies; Monitoring of financial exception reports for unusual activities, transactions, and investigates anomalies or unusual transactions; Informs supervisors and other UNOPS colleagues at Headquarters of the results of the investigation when satisfactory answers are are not obtained. Budget management and organization of the cost-recovery system Manages the project budgets and organizes an optimal cost-recovery system focusing on achievement of the following results: Financial resources management through planning, guiding, controlling of the resources in accordance with UNOPS rules and regulations; Preparation and monitoring of budgets of management projects; Establishment of the development projects budgets preparation/modification monitoring system, control of budgetary status versus authorized spending limits (ASL) and budgets delivery levels; Sending project budget (can be done only on the basis of signed documents and project budgets); Elaboration of proper mechanisms to eliminate deficiencies in budget management; Preparation of cost-recovery bills in Enterprise system for the services provided by UNOPS. Control of accounts Ensures proper control of accounts focusing on achievement of the following results in compliance with IPSAS and UNOPS policies and procedures: Elaboration of the internal expenditures control system which ensures that vouchers processed are matched and completed, transactions are correctly recorded and posted in Enterprise system; payrolls are duly prepared; MPOs, travel claims and other entitlements are duly processed, receipting of goods and services and establishment of accruals are properly done; Timely accounting and reconciliation of all transactions, security for cash assets on site; Proper management of the contributions management business process and accounting for contributions to ensure that funds due to UNOPS are properly identified, consistently and uniformly classified, recorded on a timely basis and received with sufficient supporting documentation; Manager level in Enterprise system; Control of accounts closure; Approval of vendors in Enterprise system; Timely corrective actions on unposted vouchers, including the vouchers with budget check errors, match exceptions, unapproved vouchers. Timely response to HQ requests to resolve financial data issues; Control of the Accounts Receivables for UNOPS projects and maintenance of the General Ledger. Control of Office accounts Ensures proper office cash management focusing on achievement of the following results: Timely review of cash position for local accounts to ensure sufficient funds on hand for disbursements. Timely identification and recording of receipts for income application; Monitoring of financial exception reports for unusual activities, transactions and investigation of 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; Daily review of zero-balance account bank statements in Enterprise system to monitor imprest level; identification and record of contributions; Primary contact with local bank management on routine operational matters including negotiation of exchange rate on replenishment; Member of bank signatory panel; Timely and accurate approval of bank reconciliation, including documented review of exceptions; Initiation of bank transfers and deals, selecting bank transfers and deals for approval and settlement; Performing Pay cycle manager role in Enterprise system; Timely preparation of monthly cash flow forecast for use by Operations Manager. Liaison with UN Agencies to obtain estimate of their cash requirements; Cash disbursements made on sites. Team Management 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.
Knowledge building and knowledge sharing
Organize, facilitate and/or deliver training and learning initiatives for personnel on finance related topics; Lead, approve and conduct initiatives on capacity development and knowledge building for Finance personnel, including network development, plans, learning plans and activities, Finance practice information and best practice bench-marking; Oversee teams 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 teams collection of feedback, ideas, and internal knowledge about processes and best practices and utilize productively.
Impact of Results
The effective and successful achievement of results by the Finance Specialist directly impact on the availability of UNOPS financial resources to effectively develop and implement the organizations programmes and projects. It enhances the organizations financial and programme 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.