Cash-based transfers (CBT) represent an increasing share of WFP’s total humanitarian assistance, and include assistance distributed as physical banknotes, e-money, mobile money, vouchers or debit cards. In 2020, WFP transferred US$ 2.1 billion to 38.4 million people in 67 countries in partnership with 218 Financial Services Providers. WFP has emphasized improvements to the design of CBT programmes, aimed at empowering beneficiaries to meet their essential needs in local markets. The focus on essential needs analysis and multipurpose cash was accelerated by COVID-19, increasing demand in urban environments and growing requests for support from Governments.

In support of WFP’s global scale up of cash-based transfers, the Finance function through the Business Development and Cash Based Transfers Branch (FINB) is developing corporate tools and guidance, providing day-to-day technical advice and assistance to Country Offices while also undertaking a range of staff capacity-building activities and initiatives.

As FINB undertakes these activities, the Financial Services Specialist will support WFP field operations through provision of relevant technical advice aimed at strengthening regional and country offices capacity to carry out the functional assessments, selecting and negotiating with and contracting the most viable financial service providers. This assignment may entails travelling to the field as and when needed.

ACCOUNTABILITIES/RESPONSIBILITIES:

The Financial Services Specialist will report to a Finance Officer in FINB and will undertake the following tasks:

Support the development of relevant policies, procedures and tools that would set a corporate standard for managing FSPs risks and performance and prepare relevant analytical reports and outputs. Provide procedural guidance to Country Offices on how to implement policies.
Provide support and coordinate where relevant, the ongoing initiative to design, develop, test and roll-out of a Financial CBT database with multiple analytical dashboards and reporting features. The database will capture information about FSPs, including data associated with FSPs risk levels to feed into the end‑to‑end FSP assurance process.
Advise and support Country Offices during the FSP selection and contracting process, to ensure the selection of FSP(s) able to adequately support CBT operations:

1. Perform FSP due diligence: Identify strengths, weaknesses and risks related to the FSP (counterparty risk) and the proposed payment solution and recommend risk mitigation measures to reduce WFP’s risk exposure. Review Micro Financial Assessments (MiFA), WFP tool for assessing FSPs’ financial performance.
2. Review of the financial regulatory framework to ensure FSP and WFP compliance with local regulation.
3. Ensure FSP will provide WFP with adequate reports to perform reconciliations (the reconciliation process aims to ensure the funds have reached the intended beneficiaries).

Take leading role to coordinate with Legal, Programme, Supply Chain divisions and Country Offices/Regional Bureaus, as necessary, to determine the appropriate terms and conditions to ensure relevant financial risk mitigation measures are included in the FSP contracts.
Proactively engage with COs which are planning to undertake a Due Diligence exercise, to provide early coaching and support. Design and disseminate both reference and training materials on the due diligence process.
Undertake a review of the FSP Due Diligence Process, analyze and identify opportunities to further streamline and integrate processes.
Support initiatives on capacity building and knowledge sharing activities on financial risks management, including development of relevant guidelines, presentations, training materials and courses.
Engage actively in technical working groups at HQ level, working on business processes and procedures related to CBT.
Represent the unit at internal meetings, external meetings and events with other UN agencies, banks and other financial institutions, or other partners and entities as required
All other duties as required.

TRAVEL REQUIREMENTS: Yes

DELIVERABLES AT THE END OF THE CONTRACT:

All due diligence reports are finalized and shared with relevant Country Offices.
Financial CBT database is designed, tested and rolled out
Training programmes are designed and delivered as agreed.

QUALIFICATIONS AND EXPERIENCE REQUIRED:

Education:

BA/BSc, master’s degree in Economics or Finance, Business Administration, Business Law or related fields. CFA or similar certification is desirable.

Experience:

Three to five years of relevant experience in any of the following fields: Banking, Digital Payment Industry, Financial Consulting Companies, International Financial Institutions.

Desirable:

Experience in project management, contracting, due diligence, purchasing of financial services or similar fields. Experience in working for diverse socio-economic contexts.

Knowledge and Skills:

Procurement of Financial Services, Quality and Performance Management, Financial Analysis, Due Diligence and Financial Risk Management. Demonstrated ability to work both independently and as part of a diverse team.

Language:

Good oral and written communication in English. Knowledge of a second UN/WFP language is an advantage (French, Spanish, Arabic).

Terms and Conditions:

WFP offers a competitive compensation package which will be determined by the contract type and selected candidate’s qualifications and experience.

Please visit the following websites for detailed information on working with WFP: http://www.wfp.org

Click on: “Our work” and “Countries” to learn more about WFP’s operations.

Qualified female applicants and qualified applicants from developing countries are especially encouraged to apply. WFP has zero tolerance for discrimination and does not discriminate on the basis of HIV/AIDS status

Deadline for applications: 11 February 2022

Ref.: VA No. 156084

Kindly note the only documents you need to submit at this time are your CV and Cover Letter. Additional documents such as passport, recommendation letters, academic certificates, etc. may potentially be requested at a future time.

Qualified female applicants and qualified applicants from developing countries are especially encouraged to apply

WFP has zero tolerance for discrimination and does not discriminate on the basis of HIV/AIDS status

No appointment under any kind of contract will be offered to members of the UN Advisory Committee on Administrative and Budgetary Questions (ACABQ), International Civil Service Commission (ICSC), FAO Finance Committee, WFP External Auditor, WFP Audit Committee, Joint Inspection Unit (JIU) and other similar bodies within the United Nations system with oversight responsibilities over WFP, both during their service and within three years of ceasing that service.

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Added 2 years ago - Updated 2 years ago - Source: wfp.org