Finance Associate

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 Finance Associate works in close collaboration with the operations, programme and projects staff in the Country Office (CO) and with UNDP field staff to exchange information and ensure consistent service delivery.

You are invited to join a team of dedicated development professionals whose primary role is to support the Philippines to achieve the 2030 Agenda. As part of the UNDP team your focus will be to work with multiple stakeholders to find the country specific solutions that lead to the eradication of poverty and to ensure no one is left behind – and we reach those furthest behind first. You will be confronted with diverse development challenges, including addressing basic development needs, supporting institutional transformations to enable sustainable development, and enabling rapid recovery from shocks, crises and conflicts by strengthening development pathways. These development challenges are not mutually exclusive. In fact, they often coexist, requiring tailored integrated solutions that can adequately address specific deficits and barriers. We place a premium on national ownership in the analysis, design and implementation of solutions, as well as a partnership-based approach to leverage the range of skills and resources needed – public and private. We work closely with all stakeholders in society to find innovative solutions to old development problems.

UNDP is looking for individuals who have the analytical, planning and implementation capacities that can address links, choices and connections across many issues and sectors. We seek individuals who can apply global best practice to national contexts. We are looking for people who are enthusiastic, motivated and committed to making a positive contribution to Development in the Philippines.

Duties And Responsibilities

The Finance Associate will work under the guidance and supervision of the Finance Analyst and will work in close collaboration with Operations, Programme, Project Staff and other UN Agencies

To achieve the above objectives, UNDP Philippines requires the services of a qualified Finance Associate for the following tasks:

Ensures implementation of operational and financial management strategies, adapts processes and procedures:

• Full compliance with UN/UNDP rules and regulations of financial processes, financial records and reports and audit follow up; implementation of the effective internal control framework;
• CO finance business processes mapping and elaboration of the content of internal Standard Operating Procedures in Finance in consultation with the direct supervisor and office management;
• Provision of inputs for implementation of cost reduction strategies in consultation with the office management;
• Support in the preparation of project documents and UNDP agreements especially in relation to Direct Project Charge policies and procedures;
• Monitor and attribution of contributions within the CO resource mobilization efforts.

Ensures administration of budgets and functioning of the optimal cost-recovery system focusing on achievement of the following results:

• Preparation and modifications of budgets for UNDP management projects, follow-up with HQs on ASL for management projects.
• Presentation of researched information for planning and status of financial resources of the CO.
• Facilitate KK processing in coordination with Senior Management;
• Support inter-unit cost recovery mechanisms (UPL, LPL)
• Timely preparation of cost-recovery bills in Quantum for the services provided by UNDP, implementation of the income tracking system and follow up on cost recovery.

Provides accounting and administrative support to the Finance Unit focusing on achievement of the following results:

• Proper control of the supporting documents for payments and financial reports for NIM projects; preparation of all types of vouchers; Pay Cycle and payments execution.
• Proper receipting of goods and services and establishment of accruals.
• Maintenance of the internal expenditures control system which ensures that invoice processed are matched and completed, transactions are correctly recorded and posted in Quantum; travel claims, MPOs and other entitlements are duly processed;
• Timely accounts closure
• Provide support with the Year-End Financial Closing of Accounts and meet the corporate reporting deadline;
• Timely corrective actions on unposted invoices, including the invoices with budget check errors, match exceptions, unapproved invoices. Timely response to HQ requests to resolve financial data issues.
• Preparation of financial reports as required.
• Maintenance of the Accounts Receivables for UNDP projects and follow-up with partners on contributions, deposits creation in Quantum and their application to AR pending items.
• Timely VAT reimbursements if applicable and monitoring and attribution of GLOC by the Government.

Ensures proper CO cash management functioning, focusing on achievement of the following results:

• Alternate to co-Finance Associates for 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.
• Alternate to co-Finance Associates for daily review of zero-balance account bank statements in Quantum to monitor imprest level; identification and recording of contributions.
• Timely and accurate support to GSSU for bank reconciliations.
• Alternate to co-Finance Associates for timely preparation of monthly cashflow forecast for use by Operations Manager/ Finance Analyst. Liaison with UN Agencies to obtain estimate of their cash requirement.
• Initiation of bank transfers and deals in Quantum.
• Organization of trainings for the operations/ projects staff on Finance.
• Synthesis of lessons learnt and best practices in financial management.
• Sound contributions to knowledge networks and communities of practice.

Provides Finance Support to UN agencies focusing on achievement of the following results:

• Proper control of the supporting documents for payments of UN agencies; preparation of documentation for GSSU vouchers processing and on-behalf of UN Quantum and non- Quantum Agencies;
• Maintenance of the internal expenditures control system which ensures that invoices processed are matched and completed, transactions are correctly recorded and posted in Quantum; travel claims, entitlements are duly processed
• Timely corrective actions on unposted invoices, including the invoices with budget check errors, match exceptions, unapproved invoices.

Ensures coordination with GSSU and UN agencies, focusing on the achievement of the following results;

• Timely processing of payment invoices and sending of remittance advice to UN agencies
• Ensure Financial Authorization are received by the CO before processing of payments and follow-up agency for non-receipt
• Coordinate the creation of supplier profiles and resolution of budget errors between GSSU and UN Agencies
• Ensure timely and accurate billing for all services rendered to UN agencies.

Provide any additional support as required by the Finance Analyst and/or Operations Manager.

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

Competencies

Core Competencies

• 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

Finance

• Accounting (General); Knowledge of accounting concepts, principles, frameworks, standards, regulations, policies and trends, and ability to apply this to strategic and/or practical situations.
• Budget Management; Ability to support budgetary aspects of work planning process, drawing and management of team budgets.
• Finance business partnering; Able to support business units and add value by innovating and providing solutions to financial issues/queries, including through FAQs, financial tools, advisory, etc. Influences and appropriately challenges non-finance colleagues for whom the service is being provided. Understands the operations, opportunities and challenges of the organization. Holds a commercial outlook, demonstrating accountability towards organizational goals.
• 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.
• Management and cost accounting; Ability to produce periodic qualitative and quantitative performance reports to facilitate effective decision making and performance monitoring. Ability to use a range of costing techniques and analyse cost related data to provide quantitative information to the users of reports.
• Treasury Cash Management; Ability to manage organization’s holdings with the ultimate goal of maximizing liquidity and mitigating risk. 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.

Business Management

• Communications; Ability to 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.

Education

Required Skills and Experience

• Secondary Education with specialized certification in accounting and/or Finance. University degree in Finance or Accounting desirable. Part-qualified accountants from an internationally accredited institute of accountancy will have a distinct advantage. (The degree must state that the major is in accounting or finance. Degrees in Business Administration or Public Administration are not considered equivalent.)
• Fully Qualified Accountant, from an internationally accredited institute of accountancy or Full Completion of the UNDP Finance Training and Certification Programme (FTCP). No UNDP Accountancy and Finance Test (AFT) is required.
• Candidates with no professional accountancy qualifications, but with degrees that major in accountancy and/or finance must complete UNDP Finance Training and Certification Programme (FTCP), if recruited. However, no UNDP Accountancy and Finance Test (AFT) is required.
• Candidate with no professional accountancy qualifications but with relevant experience must successfully undertake UNDP Accountancy and Finance Test (AFT) before shortlisting and must complete the UNDP Finance Training and Certification Programme (FTCP), if recruited.

Experience

• Minimum of seven (7) years (with Secondary education) or four (4) years (with Bachelor´s degree) of relevant experience in accounting and or Finance.
• Proficiency in finance and accounting
• Experience in the usage of computers and office software packages (MS Word, Excel, etc.)
• Working knowledge of spreadsheet and database packages, along with experience in handling web-based management systems and ERP financials
• Proficiency in English. Working knowledge of other UN language desirable
• Knowledge of IPSAS and/or IFRS is desirable.
• Proficiency in ERP systems is advantageous.
• Familiarity with various business processes, including procurement, financial management, and project closure, is advantageous.
• Additional desirable qualifications include knowledge in programming applications, statistical analysis, design, and/or project management.
• Accounting certification, or CPA would be an advantage.

Required Languages

• Excellent written and verbal English language skills. Fluency in Pilipino

Disclaimer

Important information for US Permanent Residents (‘Green Card’ holders)

Under US immigration law, acceptance of a staff position with UNDP, an international organization, may have significant implications for US Permanent Residents. UNDP advises applicants for all professional level posts that they must relinquish their US Permanent Resident status and accept a G-4 visa, or have submitted a valid application for US citizenship prior to commencement of employment.

UNDP is not in a position to provide advice or assistance on applying for US citizenship and therefore applicants are advised to seek the advice of competent immigration lawyers regarding any applications.

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.

Non-discrimination

UNDP has a zero-tolerance policy towards sexual exploitation and misconduct, sexual harassment, and abuse of authority. All selected candidates will, therefore, undergo rigorous reference and background checks, and will be expected to adhere to these standards and principles.

UNDP is an equal opportunity and inclusive employer that does not discriminate based on race, sex, gender identity, religion, nationality, ethnic origin, sexual orientation, disability, pregnancy, age, language, social origin or other status.

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