Investment Associate (Office Based) - [Open to all applicants] presso United Nations Development Programme

Background

The Office of Financial Management (OFM), Bureau for Management Services (BMS), supports the United Nations Development Programme (UNDP) in the promotion of its sustainable human development agenda. It achieves this by developing and making fully operational a dynamic and harmonized integrated resource management framework based on comprehensive analysis that enhances UNDP’s financial and administrative performance, as well as facilitates UN reform and coherence.  To these ends, the framework addresses strategically critical financial resource planning and management issues, including results based budgeting;  the integration of the Programming Arrangements and the Institutional Budget within the context of the integrated budget from 2014 onwards; enhanced cost classification and cost recovery;  capital budgeting; adherence to IPSAS;  foreign exchange and investment activities; corporate reporting of organizational assets; performance management tools and initiatives; and support to UN harmonization.

Within the BMS is the Treasury Division, which provides Investment and cash management of UNDP funds, including other services such as, banking strategy, banking payment structure, payment processing to UNDP Offices globally, partnered sister agencies, and other HQ units and a range of support services to country office operations.

Duties and Responsibilities

Responsible for the preparation of cash forecasts for UNDP’s major currencies and determination of daily cash position:

• Ensure adequate funding in bank accounts at UNDP headquarters as well as other UN Agencies managed by UNDP including the Multi-partner Trust Fund, Peace Builders Fund, UN Women, UNFPA, UNCDF, UNITAR, and UNSSC. 
• Initiate bank transfers between accounts for optimal cash utilization.
• Conduct cash flow analysis, financial risk analysis and any other cost-benefit analysis and make recommendations as appropriate.
• Recommend optimal imprest level for major foreign currencies. 
• Initiate purchases/redemptions from money market funds 
• Approve disbursement requests in non-USD. 
• Advise currency requirements to Investment Officer for purchase.
• Manage internal borrowing/lending in interfund accounts to ensure timely recovery of UNDP working capital.

Assist in the routine operations of the Investment Unit:

• Ensure Investment Unit transactions are settled on value date.
• Monitor and reconcile investment transactions in HQ bank accounts daily. 
• Coordinate with Operations Unit on any reconciliation items.
• Inform Investment Officer of significant contributions received.
• Support the administration of UNDP’s after-service health insurance reserves. 
• Provide business level support for operational enhancements related to the TMS/ERP, including monitoring and updating bank statement processing rules and mapping.
• Assist in the development, update and maintenance of SOPs as well as presentation materials used for training purposes. 
• Assist with ad hoc requests from investment officers. 
• Act as third level back up for the execution of foreign exchange transactions to adequately fund headquarter bank accounts. 
• Act as backup for the Multi-Partner Trust Fund Treasury Associate. 
• Assist with any other responsibilities as designated by the CIO or Treasurer. 

Country office foreign exchange replenishment:

• Responsible for FX Optimization program, including trading and roll out to scale for CO liquidity requirements, for purposes of risk management and generation of value-add while optimizing currency balances at the CO level.
• Monitors financial conditions and credit ratings of financial institutions used by UNDP for country office replenishment.   
• Manages currency exposure including the preparation and execution of foreign exchange transactions for country office replenishment. 
• Coordinate with country offices to ensure the timely delivery of local currency. 

Reporting:

• Support the regular publication of investment reports: foreign exchange gain/loss, return on investments, and other investment metrics.
• Prepare monthly disbursement analysis reports
• Develop additional reports for the investment unit to actively track performance and risk
• Work with other units within UNDP (Quantum, OFM Innovations and Solutions, etc.) in the development of new investment reports 

The incumbent performs other duties within their functional profile as deemed necessaryfor the efficient functioning of the Office and the Organization.

 Institutional Arrangements

The Investment Associate will be reporting directly to the Investment Manager. The position has no supervisory responsibility and is expected to perform the duties and responsibilities in the office throughout the duration of this assignment.

Competencies

Core

Achieve Results:  LEVEL 1: Plans and monitors own work, pays attention to details, delivers quality work by deadline

Think Innovatively: LEVEL 1: Open to creative ideas/known risks, is pragmatic problem solver, makes improvements 

Learn Continuously: LEVEL 1: Open minded and curious, shares knowledge, learns from mistakes, asks for feedback

Adapt with Agility: LEVEL 1: Adapts to change, constructively handles ambiguity/uncertainty, is flexible 

Act with Determination: LEVEL 1: Shows drive and motivation, able to deliver calmly in face of adversity, confident

Engage and Partner: LEVEL 1: Demonstrates compassion/understanding towards others, forms positive relationships

Enable Diversity and Inclusion: LEVEL 1: Appreciate/respect differences, aware of unconscious bias, confront discrimination 

Cross-Functional & Technical competencies 

Business Direction & Strategy: Business Acumen - Ability to understand and deal with a business situation in a manner that is likely to lead to a good outcome Ability to make good judgments and quick decisions within such frameworks Knowledge and understanding of the operational frameworks in the organization

Business Development: Knowledge Generation - Ability to research information and to turn it into useful knowledge, relevant for context, or responsive to a stated need. Ability to apply existing concepts to new situations, and to develop new concepts to generate workable solutions and new approaches. Knowledge of relevant concepts, conceptual models, and theories that can be useful in addressing new situations.

Business Management: Portfolio Management - Ability to select, prioritize and control the organization's programs and projects in line with its strategic objectives and capacity. Ability to balance the implementation of change initiatives with regular activities for optimal return on investment. Knowledge and understanding of key principles of project, program, and portfolio management.

Business Management: Risk Management - Identify and organize action around reducing, mitigating and proactively managing risks.

Business Management: Communication - Communicate in a clear, concise and unambiguous manner both through written and verbal communication; to tailor messages and choose communication methods depending on the audience. Ability to manage communications internally and externally, through media, social media and other appropriate channels.

Finance: Treasury Cash Management - Ability to manage organization's  cash and investment holdings with the ultimate goal of maximizing liquidity and mitigating risks. Understands the economic environment, interest rates and the importance of economic forecasting. Understands and can implement a treasury management strategy, including cash flow management, debt management and investment strategies. 

Finance: Banking and Cash Management - Ability to collect, handle, and manage cash, which involves assessing market liquidity, cash flow, and investments.

Required Skills and Experience

Min. Education requirements

• Completion of Secondary education with specialized training in Finance, Business Administration or Accounting is required, OR 
• A first level university degree (bachelor’s degree)  in Finance, Business Administration or Accounting is desirable but not a requirement. 

Min. years of relevant work experience 

• A minimum of seven (7) years (with HS Diploma) of relevant work experience pertaining to general investments, cash forecasting and foreign exchange is required at the national or international level, OR 
• Four (4) years (with Bachelor’s Degree) of relevant work experience pertaining to general investments, cash forecasting and foreign exchange is required at the national or international level.

Required  skills 

• Experience in the usage of computers and office software packages (MS Word, Excel, Power point, etc). 
• Experience in handling of web-based management systems.

Desired skills in addition to the competencies covered in the Competencies section

• Part-qualified accountants from an internationally recognized institute of accountancy or candidates with the Certified Treasury Professional designation will have a distinct advantage. 
• Experience with foreign exchange trading platforms, particularly the use of Bloomberg, is an advantage.
• Experience of working with TMS and ERP system, preferably FIS Integrity and Oracle Cloud is an advantage.
• Working knowledge of another UN language is desirable.

Required Language(s) 

• Fluency in the English language, both oral and written is required.

Equal opportunity

As an equal opportunity employer, UNDP values diversity as an expression of the multiplicity of nations and cultures where we operate and, as such, we encourage qualified applicants from all backgrounds to apply for roles in the organization. Our employment decisions are based on merit and suitability for the role, without discrimination. 

UNDP is also committed to creating an inclusive workplace where all personnel are empowered to contribute to our mission, are valued, can thrive, and benefit from career opportunities that are open to all.

Sexual harassment, exploitation, and abuse of authority

UNDP does not tolerate harassment, sexual harassment, exploitation, discrimination and abuse of authority. All selected candidates, therefore, undergo relevant checks and are expected to adhere to the respective standards and principles. 

Right to select multiple candidates

UNDP reserves the right to select one or more candidates from this vacancy announcement.  We may also retain applications and consider candidates applying to this post for other similar positions with UNDP at the same grade level and with similar job description, experience and educational requirements.

Scam alert

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