Career Opportunities: Financial Risk Management Officer - Cash Based Transfers (19281)
Requisition # 19281 - Posted 22/02/2017 - Fixed Term - Europe, Western - Italy - Rome
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ABOUT WFP
The United Nations World Food Programme (WFP) is the world's largest humanitarian agency, fighting hunger worldwide. WFP is looking to fill the Financial Risk Management Officer – Cash Based Transfers role based in our Rome, Italy Headquarters.
ORGANIZATIONAL CONTEXT
Food has traditionally been the means used by WFP for transferring resources to beneficiaries. In 2008 the WFP Strategic Plan expanded the role of WFP from food aid to food assistance, introducing a more varied toolbox of resources, including cash transfers. This expansion in the available transfer modalities is intended to ensure that responses can be closely tailored to both the needs and the context of the people that WFP supports.
WFP has advanced its Enterprise Risk Management (ERM) and Internal Control Framework (ICF) and has made significant progress towards developing a corporate Financial Risk Framework for Cash Based Transfers (CBTs). However the evolving nature of both the contextual environment and programme of work, in particular related to CBT, requires additional focus in the areas of risk management and internal controls.
KEY ACCOUNTABILITIES (not all-inclusive)
The CBT Financial Risk Management Officer will perform a key role in the Finance and Treasury Division aligned Business Development Cash Based Transfers Branch (RMFB) as part of second line of defence in the three lines of defence model endorsed by the UN’s High Level Committee on Management.
The CBT Financial Risk Management Officer will perform the following tasks:
Policy, Procedural and Guidance
- To set standards and develop corporate strategies and financial risk appetites according to which the WFP is expected to identify, assess, manage, control, test and oversee CBT related financial/compliance/regulatory/others of similar nature risks (“CBT risks”) risks to ensure compliance with applicable laws, regulatory requirements, policies and best market practices.
- Issue policies, directives, procedures, methodologies and guidelines - on the basis of the WFP CBT legal and regulatory framework - that would set the standard for COs/RBs for managing the CBT risks and serve as arbiter in the application of those standards to specific circumstances.
- Provide policy and risk based advice to the Country Offices/Finance Officers/Regional Bureaux on CBT risks management and their related controls.
- Provide training to WFP staff in HQ (Headquarters), RB (Regional Bureaus) CO (Country Offices) on CBT risks management and their related controls, including the development of practical training material, creating the right fora for open dialogue on challenges and opportunities and sharing of lessons learnt and best practices
- Provide guidance and support to RBs/COs in assessing financial regulatory gaps, establishment of tools/methodologies, processes and establishing tools, methodologies, processes and overseeing the design, implementation of controls used by the Country Offices/Finance Officers/Regional Bureaux to monitor and mitigate the CBT risks
Monitoring and Reporting
- Pro-actively review performance of key CBT operations against established policy guidance and risk parameters.
- Collaborate with RB (Compliance Officers and/or RFOs) on findings of RB oversight activities such as oversight missions etc. to identify CBT related issues that may represent a significant risk and take action to see that the matter is appropriately acknowledged and tracked for resolution.
- Undertaken timely follow up and /or coordinate (with RB/COs) progress regarding the implementation of CBT related audit and evaluation recommendations
- Liaise with RBs/COs and to ensure that Financial Services Providers perform in accordance with contractual terms and that timely remedial actions are taken for non-compliance.
- To report to Senior Management on the effectiveness of the processes and standards implemented to manage CBT risks
Others
- Partnership - Identify and explore ways in which WFP can take a proactive approach towards partnering with public and private sector entities to develop enhanced systems to deliver its programs. (e.g. partnering with cutting edge technology and security companies to develop anti-fraud technology, biometrics, eye recognition and chip based payment solutions)
- Build out response team of highly technical specialists to deploy to RO and COs
OTHER SPECIFIC JOB REQUIREMENTS
This section is optional to describe additional responsibilities & knowledge required for the specific job.
STANDARD MINIMUM QUALIFICATIONS
Education: Advanced degree in Business Administration, Finance or Economics or university degree in one of these fields of expertise combined with a professional accounting designation.
Language: Fluency (level C) in English language. Intermediate knowledge (level B) of a second official UN language: Arabic, Chinese, French, Russian, Spanish, and/or WFP’s working language, Portuguese.
DESIRED EXPERIENCES FOR ENTRY INTO THE ROLE
- Minimum of 8 years of professional experience in financial services industry.
- Applicable experience in financial risk management and compliance, including regulatory issues.
- Extensive knowledge of financial services and card industry.
- Expertise in payment infrastructure and implementation.
- Ability to lead a strategic policy advice and design team.
- Detail-oriented with the ability to synthesize large amounts of data, summarize key concepts and articulate in audience appropriate ways.
- Track record of successfully building out a team desirable.
- Excellent oral and written communication in English.
TERMS AND CONDITIONS
The selected candidate will be employed on a Fixed Term appointment, with a probationary period of one year. WFP offers an attractive compensation and benefits package, including basic salary, post adjustment, relocation entitlement, travel and shipment allowances, 30 days’ annual leave, home leave, an education grant for dependent children, pension plan and medical insurance. For more details please visit icsc.un.org
DEADLINE FOR APPLICATIONS
19 March 2017