Financial Services Specialist, Consultancy level I

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Are you interested in further developing your professional experience while contributing to ending global hunger? Would you like to join a global organization investing in its people?

If so, an exciting & fulfilling career awaits you! Join our diverse and passionate team that works on varied and international projects directly contributing to saving & changing millions of lives around the globe.

WHO WE ARE

The United Nations World Food Programme (WFP), a highly prestigious, reputable & world’s largest humanitarian organization, operating in more than 120 countries and territories, bringing life-saving assistance in emergencies, building pathways to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change and supporting sustainable and resilient livelihoods for a world with zero hunger.

At WFP, people are at the heart of everything we do, and the vision of the future WFP workforce is one of diverse, committed, skilled, and high performing teams, selected on merit, operating in a healthy and inclusive work environment, living WFP's values (Integrity, Collaboration, Commitment, Humanity, and Inclusion) and working with partners to save and change the lives of those WFP serves.

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WHY JOIN US?

WFP is a 2020 Nobel Peace Prize Laureate

WFP offers a highly inclusive, diverse, and multicultural working environment

WFP invests in the personal & professional development of its employees through a range of training, accreditation, coaching, mentorship, and other programs as well as through internal mobility opportunities

A career path in WFP provides an exciting opportunity to work across the various country, regional and global offices around the world, and with passionate colleagues who work tirelessly to ensure that effective humanitarian assistance reaches millions of people across the globe.

JOB TITLE:

Financial Services Specialist

TYPE OF CONTRACT:

Regular Consultant, Level I

UNIT/DIVISION:

Business Development CBT, FINB

DUTY STATION (City, Country):

Home-based

DURATION:

11 months, extendable

BACKGROUND AND PURPOSE OF THE ASSIGNMENT:

Cash-based transfers (CBT) represent an increasing share of WFP’s total humanitarian assistance, and comprise of assistance distributed as physical banknotes, e-money, mobile money, vouchers or debit cards. In 2022, WFP transferred over US$ 3.2 billion to 52.3 million people in 68 countries, in partnership with 109 Financial Services Providers (FSP). The focus on essential needs analysis and multipurpose cash was accelerated by COVID-19 and the global food crisis triggered by the recent conflicts, significantly increasing demand also in urban environments and requests for support from Governments.

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

As FINB undertakes these activities, the Financial Services Specialist will provide guidance to WFP field operations through provision of relevant technical advice, aimed at strengthening regional and country offices capacity to carry out the financial assessments of the FSP selection and contracting process. This assignment may entail 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:

• Manage all technical advice and support provided to Regional Bureau Bangkok and Nairobi, and the relevant Country Offices, regarding the financial aspects of the FSP selection and contracting process, to ensure that the selection of FSPs will be able to adequately support CBT operations:
  1. Provide procedural guidance to regional and country Offices finance colleagues on how to implement relevant policies and procedures.
  2. Oversee and support FSP due diligence process: 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), a corporate tool used for assessing FSPs’ financial performance.
  3. Review relevant financial regulatory framework and developments in the financial sector, to ensure FSP and WFP alignment with local regulation and financial market.
• Develop and enhance policies and procedures that set a corporate standard for managing FSP risks and performance:
  1. Review the FSP Due Diligence procedure to further strengthen planning and monitoring processes, in order to ensure constant and timely risk assessment of all relevant FSPs.
  2. Define a formal FSP due diligence methodology that describes areas of assessment and the scoring model that is used to assign FSP risk levels.
• Team focal point for enhancement and maintenance of the FSP due diligence tool:
  1. Ensure the tool is aligned with corporate strategy and priorities regarding CBT.
  2. Propose improvements to make the user-experience easier, more efficient and less exposed to manual data entry errors.
  3. Promptly revise the tool vis-à-vis relevant feedback gathered from regional and country offices.
• Strongly contribute and coordinate, where relevant, the ongoing initiative to design, develop, test and roll-out the Risk Monitoring tool, which will be part of a Financial CBT database with multiple analytical dashboards and reporting features.
  1. strongly contribute to the design of the FSP Risk Monitoring dashboard which analyses WFP exposure to FSP risks and presents recommendations specific to regional offices and for the management in headquarters on a periodic basis.
  2. Manage the development and maintenance of relevant databases, to enable the Risk Monitoring tool to provide updated overview of FSP related risks.
• Design and disseminate guidance material and training modules on FSP related risks and the due diligence process:
  1. Develop standardized guidance material on the FSP selection process that can be used with Country Offices which are planning to undertake a Due Diligence exercise.
  2. Develop presentations and training modules on FSP related risks and due diligence process that can be used during capacity building and knowledge sharing activities.
  3. Facilitate relevant trainings and workshops.
• 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.
  1. Engage actively in technical working groups at HQ level and represent the unit in cross-functional projects aimed to streamline business processes and procedures related to CBT.
  2. 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 require

TRAVEL REQUIREMENTS: YES

DELIVERABLES AT THE END OF THE CONTRACT:

• Enhanced due diligence procedure, methodology and tool.
• All due diligence reports are finalized and shared with relevant Country Offices.
• FSP risk monitoring tool and dashboard within the Financial CBT database are designed, tested and rolled out.
• Training programmes are designed and delivered as agreed.

QUALIFICATIONS & 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:

Desirable:

Previous work experience in WFP or another UN agency is required. Previous experience in relation with the financial sectors in WFP countries

of operation.

3-5 years of relevant experience in any of the following fields: Banking, Digital Payment Industry, Financial Consulting Companies, International Financial Institutions.

Experience in project management, contracting, due diligence, purchasing of financial services or similar fields.

Experience in working for diverse socio-economic contexts.

Knowledge & Skills:

Demonstrated in-depth understanding of WFP CBT operations, CBT

financial and operational risks and risk management techniques.

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.

Languages:

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.

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: 9 May 2023

Please note that the deadline is at 11:59 pm Rome time (GMT + 1)

Ref.: VA No. 826654

REMINDERS BEFORE YOU SUBMIT YOUR APPLICATION

• We strongly recommend that your profile is accurate, and complete, and includes your employment records, academic qualifications, language skills and UN Grade (if applicable).
• Once your profile is completed, please apply, and submit your application.
• Please make sure you upload your professional CV in the English language
• Kindly note the only documents you will need to submit at this time are your CV and Cover Letter
• Additional documents such as passports, recommendation letters, academic certificates, etc. may potentially be requested at a future time
• Please contact us at [email protected] in case you face any challenges with submitting your application
• Only shortlisted candidates will be notified

All employment decisions are made on the basis of organizational needs, job requirements, merit, and individual qualifications. WFP is committed to providing an inclusive work environment free of sexual exploitation and abuse, all forms of discrimination, any kind of harassment, sexual harassment, and abuse of authority. Therefore, all selected candidates will undergo rigorous reference and background checks.

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.