Finance Analyst (Nationals only)

Bogotá

Organization: UNDP - United Nations Development Programme
Location: Bogotá
Grade: Level not specified - Level not specified
Occupational Groups:
- Operations and Administrations
- Banking and Finance
Closing Date: 2024-09-26

Background

Diversity, Equity and Inclusion are core principles at UNDP: we value diversity as an expression of the multiplicity of nations and cultures where we operate, we foster inclusion as a way of ensuring all personnel are empowered to contribute to our mission, and we ensure equity and fairness in all our actions. Taking a ‘leave no one behind’ approach to our diversity efforts means increasing representation of underserved populations. People who identify as belonging to marginalized or excluded populations are strongly encouraged to apply. Learn more about working at UNDP including our values and inspiring stories.

UNDP does not tolerate sexual exploitation and abuse, any kind of harassment, including sexual harassment, and discrimination. All selected candidates will, therefore, undergo rigorous reference and background checks.

The United Nations Development Program – UNDP works in more than 170 countries and territories, aiding with develop policies, leadership and association skills, institutional capacities, and resilience building, fostering development. The UNDP Strategic Plan 2022-2025 describes the future direction of UNDP, continuing to work through its six signature solutions on poverty and inequality reduction, governance, resilience, environment, energy, and gender equality.

These are where countries’ needs are greatest and where the capabilities and position of UNDP within the United Nations development system best equip the organization to work. Learning from the lessons of the last four years, the signature solutions will be adapted to better match countries’ evolving priorities. Collaborating across the strengthened United Nations system and beyond, UNDP will develop integrated approaches that apply combinations of solutions for greater impact. Powerful enablers – strategic innovation, digitalization, and development finance – will further accelerate and scale results.

UNDP is part of the 26 United Nations Agencies, Funds and Programs in Colombia, contributing to the achievement of the United Nations Cooperation Framework for Sustainable Development. The UNDP Country Program Document 2021-2024 seeks to support the efforts of the Colombian government for the transition to peace and the consolidation of its position as a medium-high income country; with three work priorities: 1) Stabilization: “Peace with Legality”; 2) Migration as a development factor; and 3) Technical assistance as an accelerator of the achievement of the catalytic Sustainable Development Goals.

Within this framework, UNDP Colombia Office covering 28 departments in 319 municipalities, works in alliance with the Government - at the national and local levels - the private sector and social organizations in prioritizing actions that allow transforming living conditions of the most vulnerable populations.

At the programmatic level, the office in Colombia is organized into two Clusters that work in an articulated manner on different development initiatives: The Inclusive Sustainable Growth Cluster groups together the Sustainable Development and Productive Inclusion and Social Protection portfolios and the Cluster of Peace Development and Inclusive Governance that brings together the Inclusive Governance, Peace Development and Recuperation and Crisis Response and Rule of Law Portfolios.

The Finance team supports the Country Office (CO) in the promotion of its sustainable development agenda by continuously enhancing CO financial performance, delivering sound management of financial resources, and ensuring strong accountability through informed decision making, effective financial management processes, and transparent financial reporting that complies with international standards and regulatory guidelines.

Position Purpose

Under the overall guidance of the DRR and direct supervision of the Operations Manager, the Finance Analyst is responsible for effective delivery of financial services, transparent utilization of financial resources, and management of the Country Office (CO) Finance Unit. The Financial Analyst analyzes and interprets financial rules and regulations and provides solutions to a wide spectrum of complex financial issues. The Finance Analyst promotes a collaborative, client-oriented approach consistent with UNDP rules and regulations.

The Finance Analyst manages the CO Finance Unit and supervises and leads the unit’s staff. The Finance Analyst works in close collaboration with the Operations, Programme and Project teams in the CO, UNDP HQs and GSSC staff, and Government officials to ensure successful CO financial performance.

UNDP adopts a portfolio approach to accommodate changing business needs and leverage linkages across interventions to achieve its strategic goals. Therefore, UNDP personnel are expected to work across units, functions, teams, and projects in multidisciplinary teams in order to enhance and enable horizontal collaboration.

Duties and Responsibilities

1.) Ensure implementation of operational and financial management strategies and adapt processes and procedures.

Ensure CO financial activities, financial recording/reporting system and audit follow-up comply with UNDP Programme and Operations Policies and Procedures (POPP) and strategies. Provide support in closure of audit gaps, implement effective internal controls, and ensure proper design and functioning of the financial resources management system.
Support office management in preparing and reviewing CO Finance business processes mapping and elaborate/establish internal standard operating procedures in the Finance Unit, and control Finance Unit workflows.
Provide continuous analysis and monitoring of the financial situation and potential risks; and provide forecasts for allocated development and management projects, transactions, and activities.
Support country office management to articulate the framework and conditions of contributions within the CO resources mobilization efforts.
Elaborate and implement cost saving and reduction strategies.
Routinely monitor financial exception reports for unusual activities, transactions, and investigate anomalies or unusual transactions. Inform senior CO management and other UNDP staff at Headquarters of the results of the investigation when satisfactory answers are not obtained.

2.) Clear the budget of development projects, manage budgets of management projects and Direct Project Costs (DPC), and organize an optimal cost-recovery system.

Manage financial resources through planning, guiding, controlling of the resources in accordance with UNDP POPP guidelines.
Prepare and monitor budgets of management projects in ERP. Provide regular analysis and report on budget approvals and delivery situation of management projects.
Establish the development projects’ budget preparation/modification monitoring system; and monitor and report on control of budgetary status versus authorized spending limits (ASL) and budgets delivery levels.
Elaborate proper mechanisms to eliminate deficiencies in budget management.
Organize cost-recovery and DPC mechanisms for services provided by UNDP ensuring the preparation of pro-forma invoices for UN agencies in ERP and monitor through the ERP tracking system. Ensure cost-sharing financing contributions are properly transferred to UNDP on a timely basis.

3.) Ensure proper control of CO accounts.

Elaborate internal expenditures’ control system for all transactions, including invoices and General Ledger. Ensure invoices processed are matched and completed; transactions are correctly recorded and posted in ERP; and travel claims and other entitlements are duly processed in IPSAS compliance.
Exercise appropriate delegated authorities for transactions approval.
Ensure timely corrective actions on unposted invoices, including invoices with validation errors, match exceptions, and/or unapproved invoices. Provide timely response to HQ requests to resolve financial data issues.
Ensure control of the Accounts Receivables for UNDP projects and accounts closure.

4.) Ensure proper CO cash and Treasury management, including risk assessment and adequate security for cash assets on site.

Provide timely review of cash position for local accounts to ensure sufficient funds for disbursements and maintain liquidity level approved by Treasury. Ensure timely identification and recording of receipts/deposit creation for revenue application.
Identify and record contributions.
Serve as primary contact with local bank management on routine operational matters including negotiation of exchange rate on replenishments. Serve as member of bank signatory panel.
Review bank reconciliation and provide documentation to GSSC in accordance with service level agreement.
Prepare monthly cash flow forecast and ensure sufficient cash balance in local bank account. Liaise with participating UN agencies to obtain disbursement estimate of their cash requirements. Serve as cashier for cash disbursements made on site.

5.) Ensure facilitation of knowledge building and knowledge sharing in the CO and guidance to all stakeholders on financial matters.

Provide support in identifying training needs of UNDP staff for the purpose of capacity development in finance compliance.
Organize and conduct training for the operations/programme/projects staff on financial management and RBM. Assist in providing regular training and technical guidance/advice on audit and compliance matters, including implementation of Internal Control Framework (ICF).
Synthesize lessons learned and best practices in Finance.
Provide sound contributions to knowledge networks and communities of practice.

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

Supervisory/Managerial Responsibilities: Supervise staff in the Finance unit.

Competencies

Core Competencies

ACHIEVE RESULTS - LEVEL 2: Scale up solutions and simplifies processes, balances speed and accuracy in doing work.
THINK INNOVATEVELY - LEVEL 2: Offer new ideas/open to new approaches, demonstrate systemic/integrated thinking.
LEARN CONTINUOUSLY - LEVEL 2: Go outside comfort zone, learn from others and support their learning.
ADAPT WITH AGILITY - LEVEL 2: Adapt processes/approaches to new situations, involve others in change process.
ACT WITH DETERMINATION - LEVEL 2: Able to persevere and deal with multiple sources of pressure simultaneously.
ENGAGE AND PARTNER - LEVEL 2: Is facilitator/integrator, bring people together, build/maintain coalitions/partnerships.
ENABLE DIVERSITY AND INCLUSION - LEVEL 2: Facilitate conversations to bridge differences, considers in decision making.

People Management

UNDP People Management Competencies can be found in the dedicated site.

Cross-Functional Competencies

BUSINESS DIRECTION & STRATEGY
- SYSTEM THINKING: Ability to use objective problem analysis and judgement to understand how interrelated elements coexist within an overall process or system, and to consider how altering one element can impact on other parts of the system.
BUSINESS MANAGEMENT
- PORTFOLIO MANAGEMENT: Ability to select, prioritize and control the organization’s programmes and projects, in line with its strategic objectives and capacity; ability to balance the implementation of change initiatives and the maintenance of business-as-usual, while optimizing return on investment.
- CUSTOMER SATISFACTION / CLIENT MANAGEMENT: Ability to respond timely and appropriately with a sense of urgency, provide consistent solutions, and deliver timely and quality results and/or solutions to fulfil and understand the real customers' needs. Provide inputs to the development of customer service strategy. Look for ways to add value beyond clients' immediate requests. Ability to anticipate client's upcoming needs and concerns.

Technical Competencies

OPERATIONS: FINANCE
- ACCOUNTING (GENERAL): Knowledge of accounting concepts, principles, regulations, policies and ability to apply this to strategic and/or practical situations.
- FINANCIAL PLANNING AND BUDGETING: Ability to create and manage processes to achieve UNDP's long and short-term financial goals, including through planning, budgeting, forecasting, analyzing and reporting.
- AUDIT RISK MANAGEMENT: Ability to address audit issues raised in the course of an audit and propose solutions in order to ensure a true and fair audit opinion is achieved.
- FINANCIAL RISK MANAGEMENT: Ensures financial resilience through proactive assessment of risk, implementation of controls and taking mitigating action. Understands risk and reward in relation to collaborative and commercial projects. Ensures a culture of positive risk management.

Required Skills and Experience

Education:

A professional accounting qualification from an internationally accredited institute of accountancy, and/or Advanced (Master’s) University Degree in Finance and/or Accounting is required. Candidates with professional accounting qualifications from an internationally accredited institute of accountancy will have a distinct advantage.
Candidates with no professional accountancy qualifications, but with degrees that major in accountancy and/or finance must complete the Finance Training and Certification Programme (FTCP), if recruited.
Candidates satisfying the two above criteria are exempted from undertaking the UNDP Advanced Accountancy and Finance Test (AAFT).
Candidates with MBA or master's in finance with no accountancy qualification but with relevant experience must successfully undertake the UNDP Advanced Accountancy and Finance Test (AAFT) to be eligible for shortlisting.

Experience:

2 years (with master’s degree) or 4 years (with bachelor’s degree) of relevant experience in providing financial management services, and/or managing staff and operational systems.
Experience in the use of computers and office software packages (MS Word, Excel, etc.) and advanced knowledge of spreadsheets and web-based management systems such as ERP financials and database packages.
Experience of IPSAS and/or IFRS is required for external candidates.

Other desirable profile criteria:

Experience in operational systems is desirable.
Work experience in UNDP and demonstrated knowledge of UNDP policies and procedures are desirable.
Experience with project finance and management of project financial transactions is an asset.

Languages:

Fluency in Spanish is required.
Working knowledge of English is desirable.

Disclaimer

Important applicant information

All posts in the NO categories are subject to local recruitment.

Candidates selected pursuant to this vacancy may be subject to UNDP’s policy on Probation upon assignment.

Applicant information about UNDP rosters

Note: 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.

Workforce diversity

UNDP is committed to achieving diversity within its workforce, and encourages all qualified applicants, irrespective of gender, nationality, disabilities, sexual orientation, culture, religious and ethnic backgrounds to apply. All applications will be treated in the strictest confidence.

Scam warning

The United Nations does not charge any application, processing, training, interviewing, testing or other fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it. Furthermore, please note that emblems, logos, names and addresses are easily copied and reproduced. Therefore, you are advised to apply particular care when submitting personal information on the web.

We do our best to provide you the most accurate info, but closing dates may be wrong on our site. Please check on the recruiting organization's page for the exact info. Candidates are responsible for complying with deadlines and are encouraged to submit applications well ahead.

Before applying, please make sure that you have read the requirements for the position and that you qualify.
Applications from non-qualifying applicants will most likely be discarded by the recruiting manager.

Apply