Head of Financial Sector Intelligence and Innovation

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Application deadline 1 year ago: Thursday 2 Jun 2022 at 23:59 UTC

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WFP celebrates and embraces diversity. It is committed to the principle of equal employment opportunity for all its employees and encourages qualified candidates to apply irrespective of race, colour, national origin, ethnic or social background, genetic information, gender, gender identity and/or expression, sexual orientation, religion or belief, HIV status, physical or mental disability.

Job Title: Head of Financial Sector Intelligence and Innovation

Type of Contract: Regular Consultant

Unit/Division: FINB

Duty Station (City, Country): Rome, Italy

Duration: 11 months

BACKGROUND AND PURPOSE OF THE ASSIGNMENT:

Cash-based transfers (CBT) represent an increasing share of WFP’s total humanitarian assistance (34 percent in 2021), and include assistance distributed as physical banknotes, e-money, mobile money, vouchers or debit cards. In 2021, WFP transferred US$2.3 billion to 41.8 million people in 69 countries, empowering them to meet their essential needs. 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 other innovative activities and engagements internally as well as with external service providers.

The Consultant will be required to act as a global focal point for Financial Sector Intelligence and Innovation. This will include leading the team that guides the standard CBT preparedness process by rolling out a new tool for consolidated Financial Sector Assessment through a cross-functional lens, with improved preparedness standards and lowered lead and contracting times. Based on this liaison with Central Banks will be established in key countries and regions, while the Consultant will be responsible and accountable for direct engagements as well as upskilling of the WFP workforce for future deepened relationship with regulatory bodies in the financial arena. On the Innovation side, the Consultant will be in charge of the second Sprint of the technical and procedural developments of WFP’s beneficiary payment platform and head the plugPAY project. In addition to this, the external angle of baselining developments and scouting innovative financial services shall also reside within the responsibilities of the Consultant to provide comprehensive guidance to Regional Bureaux and Country Offices and represent the team in cross-functional working and steering groups.

ACCOUNTABILITIES/RESPONSIBILITIES:

The Consultant will undertake the following tasks:

  • Act as the global focal point for Financial Sector Intelligence and Innovation ensuring a clear and strong connection between the field operations, Regional Bureaux, and HQ.

  • Manage the Financial Sector Intelligence Team, including:

    • Oversee piloting and subsequent upgrading as well as full roll-out of new Financial Sector Intelligence (FSI) approach to create a preparedness roster for CBT and offer stringent financial sector ratings, early warning, risk analysis and contingency planning and make recommendations while providing conclusions to the CBT working group and CO management to enable them to make informed decisions.
    • Consolidate and analyze financial data on a regional and global level, identifying potential trends and issues, presenting clear recommendations and influencing management to tackle complex or regional problems in the areas of FinTech and Know-your-Customer regulations.
    • Provide technical knowledge and expertise to develop/further enhance various assessment methodologies and templates, rating models and tools to facilitate Financial Sector engagements.
    • Coordinate the collection and dissemination of lessons learned and provision of support to the CO and RB focal points.
  • Lead Financial Services ecosystem development approach by:

    • translating corporate policies and strategies pertinent to Financial Inclusion, Choice and Women Economic Empowerment as well as government hosted Cash-based Safety nets into country-level practices by engaging Central Banks and Private Sector in country and regions
    • advising and supporting the design of learning initiatives that enhance the capacity of WFP staff and partners to engage with Financial Sector regulatory and supervisory bodies.
  • Develop and implement FinTech Blueprint, including:

  • Manage or oversee the preparation and dissemination of timely analytical and critical reports, publications, and a variety of knowledge products or proposals for internal or external use that position and strengthen the credibility of WFP as a partner in innovative CBT mechanisms and for direct operational use of innovative financial products and services in regions and countries

  • Manage or oversee global, regional and local market research and evidence building on potential FinTech contributions to CBT as pathway to understand feasibility to support larger scale operations and choice within interventions
  • Conceptualize and participate in delivery of various capacity augmentation initiatives undertaken by the unit, including conducting face-to-face meetings and webinars, update of eLearning materials and modules

  • Head WFP’s new beneficiary payment initiative “plug&PAY”:

  • Manage the piloting and development of the innovative financial solution to achieve programmatic goals towards financial inclusion and economic empowerment. Develop and implement improvements to financial policies, systems and procedures accordingly in order to improve efficiency and effectiveness of beneficiary payments, minimize counterparty risk incurred by prepositioning of funds.

  • Prepare mainstreaming of payment management tool along with a robust system and implementation package, such as assurance process, accounting model, data management, legal review, building on relationships with treasury banks
  • Assist senior stakeholders of WFP, partners and government to identify and analyze maturity of payment landscape and provide - or mobilize – support and technical expertise for the design and delivery of suitable payment scheme
  • Advocate for resources and develop cost recovery model for a sustainable roll-out of plugPAY, including by articulating a business case for WFP’s contributions and exploring new potential resource channels
  • Advise and support COs in implementing new beneficiary payment process, in order to ensure transparent and efficient utilization of WFP’s financial resources and identify areas for savings in current payment process.
  • Carry out field visits to clarify application of new policies and procedure and oversee preparation of reports on findings with improvement action plans. Ensure that bank reconciliation, disbursements, overall cash management and monthly financial closures are performed in accordance with new process requirements.
  • Represent unit/CO at internal meetings, external meetings and events with other UN agencies, banks and other financial institutions, or other partners and entities as required.
  • Ensure the best use of assigned financial resources for achievement of objectives within a significant project budget.
  • Enhance WFP’s leadership status in different forums pertinent to cash based transfers.

  • Lead, motivate and coach a team of finance professionals and general service staff to enable continued development and high performance.

  • Perform other duties as required.

DELIVERABLES AT THE END OF THE CONTRACT:

  • Cleared Financial Sector Intelligence Tool, learning material, and roll-out plan
  • Clearance of CBT preparedness assessments (FSI)
  • Financial Sector Ecosystem Development approach and toolkit
  • FinTech blueprint
  • plug&PAY sprint 2 and pilot implementation, including risk review and assurance process, financial management of the project
  • Advisory to Country Offices regarding financial sector regulatory environment, risks and opportunities

QUALIFICATIONS AND EXPERIENCE REQUIRED:

Education:

Advanced University Degree in Economics or Finance, Business Administration or related fields.

Experience:

Minimum of 8 years of experience in relevant technical fields, preferably in the nexus of Finance and Humanitarian Cash assistance: Previous work experience in WFP or other UN agency is required.

  • Has worked with WFP or other UN agencies on CBT related duties and financial assessment cycles
  • Has managed discussions with experts in other sectors of WFP expertise e.g., Legal, Supply Chain, Technology, etc.
  • Has experience managing substantial components of a complex portfolio or work
  • Has experience leading a substantive team.

Knowledge and Skills:

  • Technical knowledge and experience required to identify, analyse and resolve more complex financial sector related issues.
  • Technical skills to provide review of and advisory on processes, documents and assessments combined with experience in the multiple CBT-related specialized financial and programmatic areas
  • Demonstrated in-depth understanding of financial and risk management techniques for CBT, programme and financial policies, business processes to apply these in the implementation of WFP programme interventions
  • Ability to manage complex budgets and financial statuses of projects
  • Team management and target setting for self and others to focus team efforts in ambiguous situations
  • Demonstrated ability to adapt engagement approach in the context of evolving partner circumstances and expectations

Language:

Fluency in English language. Intermediate knowledge of a second official UN language: Arabic, Chinese, French, Russian, Spanish, and/or WFP’s working language, Portuguese.

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: Thursday, 2 June 2022

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

Ref.: VA No. 164762

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.

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.

Added 1 year ago - Updated 1 year ago - Source: wfp.org