Organizational context
The International Fund for Agricultural Development (IFAD) is an international financial institution and a specialized United Nations agency dedicated to eradicating rural poverty and hunger. It does so by investing in rural people. IFAD finances programmes and projects that increase agricultural productivity and raise rural incomes, and advocates at the local, national and international level for policies that contribute to rural transformation.
The Financial Operations Department (FOD) is a dynamic strategic and responsive service provider, fully supporting IFAD in managing its financial, investments, and material resources. FOD ensures that these resources are efficiently, economically and effectively used to achieve IFAD’s objectives in the long-term and deliver on its development commitments. The department is a strategic financial business partner to IFAD departments and divisions. FOD is composed of the following divisions: Accounting and Controller's Division, Financial Management Services Division, and Treasury Services Division.
Within FOD, the Accounting and Controller’s Division is responsible for integrity and transparency of the accounting, reporting and control functions in the management of IFAD’s resources, Trust Funds, Supplementary funds, funds of hosted entities and fund raised through innovative financing related activities. The division provides leadership and interpretation on all major issues related to the formulation and implementation of accounting policies and procedures, such as adoption of new International Financial Reporting Standards (IFRS). It ensures maintenance of a robust internal control framework over financial reporting (ICFR). The division maintains strategic partnerships with other International Financial Institutions (IFIs), relevant United Nations organizations and external entities, such as IFAD’s external auditors.
Post's organizational accountability
The main focus of this position is strategic leadership, innovation and management. The accountabilities/key results include:
- Vision & Strategy
- Policy Development & Advice
- Programme Management
- Management of Resources
- Representation
Under the overall guidance and supervision of the Associate Vice-President, Chief Financial Officer and Chief Controller, the Director and Controller will lead, manage and motivate a team of managers/senior specialists who are also supervisors, specialists and assistants, being also responsible for managing and supervising the delivery of the division’s/unit’s programme of work within the allocated budget.
Key results expected / Major functional activities
VISION & STRATEGY: The Director and Controller will be responsible for developing and promoting a vision and strategy for IFAD’s approach to corporate controlling activities and corporate accounting policies, in particular in relation to IFRS (International Financial Reporting Standards) translating IFAD’s corporate business and financial strategies, goals and objectives into a divisional programme of work that will support the achievement of IFAD’s strategic goals under the Strategic Framework 2015-2025. The incumbent will ensure that evolving divisional programme activities are integrated in the evolution of departmental goals and objectives.
The incumbent will participate in the design of IFAD's and the Financial Operations Department strategic approaches and ensure that corporate financial strategies are fully integrated in the design of assigned activities.
The Director and Controller will contribute to setting and communicating clear strategic and operational objectives, while remaining accountable for the division being seen as a credible and trusted partner in managing for results and as an innovator in the field of managerial and financial accounting and control.
The Director and Controller will be required to contribute to the innovation and delivery of state-of-the-art financial management reporting, reflecting IFAD as a fully-fledged international financial institution.
POLICY DEVELOPMENT & ADVICE: The Director and Controller will provide leadership in the development and interpretation of global trends and major accounting policies, regulations and rules, and systems that govern the work of IFAD, including all entities reported under IFAD’s consolidated financial statement and entities reported off balance sheet.
The incumbent will also be responsible for the development of the Internal Control Framework for Financial Reporting ensuring that IFAD”s Internal Control Framework will be in line with international standards and best practices as they are applied across multinational development banks and other IFIs.
The incumbent will ensure that divisional goals and objectives reflect the overall directions of the Fund’s mandate and strategies.
The Director and Controller will serve as a trusted financial advisor with a significant role in authoritative policy advice on accounting and control within the Fund at the senior management level as well as in policy dialogue in his/her representational activities.
PROGRAMME MANAGEMENT: The Director and Controller provides leadership in (a) all phases of the division’s medium-term planning and management, including operational requirements such as (i) day-to-day management of the accounting and control function, overseeing the first-line management responsibility for IFAD critical systems and accounting and control processes, and the segregation of duties and responsibilities among IFAD authorized signatories for payments, (ii) establishing annual work plans, (iii) ensuring regular programme assessment and (iv) identifying opportunities for innovation and implementation of best accounting, control and financial management reporting practices generated within the Fund as well as in peer organizations, both private and public; this will include: (a) reviewing and innovating core processes of the division and IFAD financial accounting operations as a whole in order to achieve better efficiency and effectiveness, as well as financial sustainability, of operations; (b) enhancing synergy among divisional staff and holding staff accountable for results, including in support of IFAD’s evolving decentralization strategy, and (c) ensuring the preparation of all IFAD publications, reports and governing bodies documents related to IFAD consolidated, and IFAD-only financial statements, financial statements related to independently reported investment vehicles such as the Global Environmental Fund; (v) overseeing payments of expenses and salaries and providing advice on financial transactions including those relating to co-financing and supplementary funds
MANAGEMENT OF RESOURCES: The Director and Controller will be accountable for integrity, transparency, and management of IFAD resources (human, financial and material). This includes:
- International best practice accounting and control over IFAD financial resources with a balance sheet equity position of approximately USD 7 billion, an annual financial operation of above USD 1 billion,
- People Management through workforce planning, recruitment, performance management, learning and career management of P and GS staff:
a) Identifies best qualified candidates for vacancies, with appropriate regard for gender balance and geographic distribution;
b) Motivates, coaches and supports staff of the division, wherever they are located, to create cohesive teams that work effectively to achieve common divisional goals and objectives;
c) Manages staff performance and development through regular performance feedback, mentoring and career planning. - Divisional Budget Management by leading divisional strategic and data inputs into the departmental budget preparation exercises and by ensuring accountability and fiduciary integrity in the Division’s budget execution;
- Material Resources Management through accountability for the material resources assigned to the Division.
- Knowledge and Content Management to achieve innovative outcomes and cost effective processes as well as to promote the generation, validation and dissemination of knowledge by ensuring (a) knowledge content is continuously updated and available, (b) best accounting and control practices are continuously identified, documented and distributed and (c) appropriate and up-to-date information and tools are available as appropriate.
- Information Technology Management of IFAD critical financial IT systems, partly through leveraging ERP functionality for improved business results, reporting processes and client services, partly in managing the evolution of a higher level of integration within the IFAD ERP environment and across IFAD financial IT systems.
Impact of Key results / Key performance indicators
Within IFAD’s overall Strategic Framework and Medium Term Plan, the Director and Controller will establish IFAD’s priorities for and provide leadership to the Accounting and Control Division level programme and operational management activities and will be accountable for a results-based approach to meeting assigned goals and objectives. Leadership activities include the optimum utilization of human, financial, technology and material resources for the achievement of greater efficiency and effectiveness. The incumbents’ impact extends beyond the successful achievement of divisional goals and objectives to include larger departmental goals and objectives in strategic planning collaboration. The expected results directly and/or indirectly benefit the ultimate stakeholders, the rural poor in developing countries.
The key performance indicators include leadership in viable strategic planning, authoritative and relevant financial policy development and financial advice, sustainable decisions and integrity and accountability primarily in the planning and management of the Fund’s financial and material resources; and the Director and Controller will play a key role in the design, development and implementation of financial strategies to support IFAD’s decentralization.
Representation / Work relationships
Within IFAD, the Director and Controller will provide authoritative advice to senior management on the division’s vision, strategic planning, policy, divisional programme and operational management. S/he will be accountable for collaboration and coordination within the Fund to ensure appropriate consultation, cross-functional synergy and coordination of accounting, controlling and financial management reporting planning and activities.
Externally, the Director and Controller will help maintain and develop strategic partnerships and collaborative relationships with counterparts spanning a broad range of institutions including borrowers, bilateral and multilateral development agencies, UN agencies, funds and programmes, IFIs, non-governmental organizations and academic institutions for the purpose of programme co-operation, knowledge sharing, policy dialogue and/or resource mobilization. The Director and Controller will be accountable for the provision of authoritative advice on accounting and controlling matters during Executive Board sessions, the annual Governing Council and related subordinate bodies including the audit and evaluation committees.
The Director and Controller will represent the Fund in official United Nations committees and networks, such as the UN Budget and Finance Network operating under the UN CEB and HLMC, and in international financial institution such as the MDB/IFI Controllers Network, multilateral and bilateral meetings, symposia, fora and conferences upon request of the President, and build organizational networks with peers in major private, public and international financial institutions, such as external rating agencies.
Competencies
Organisational
- Strategic thinking and organizational development: Strategic leadership
- Demonstrating Leadership: Leads by example; initiates and supports change
- Learning, sharing knowledge and innovating: Challenges, innovates and contributes to a learning culture
- Focusing on clients: Contributes to a client-focused culture
- Problem solving and decision making: Solves complex problems and makes decisions that have wider corporate impact
- Managing time, resources and information: Coordinates wider use of time, information and/or resources
- Team Work: Fosters a cohesive team environment
- Communicating and negotiating: Acquires and uses a wide range of communication styles and skills
- Building relationships and partnerships: Builds and maintains strategic partnerships internally and externally
- Managing performance and developing staff: Manages wider teams with greater impact on others and on the organization
Technical/functional
- Certified Public Accountant (CPA) or Certified Management Accountant
- Experience in designing and presenting high level financial management reports (EB level)
- Acquired exposure to Management Boards, Audit Committees and external auditing functions at engagement manager and partner level’
- String focus on processes optimization.
- Recognized management skills in a multicultural setting, combined with ability to achieve results through motivating people and influencing partners.
- Results-oriented decision-making ability with an aptitude to address operational challenges and for developing practical solutions.
- Innovator with risk management ability and a proven track record as a successful agent of change.
- Rigorous analytical and conceptual thinking.
- High sense of integrity, trust and confidence.
- Champion of IFAD’s values: respect for the individual, integrity, professionalism and focus on results.
- Excellent written and verbal communication skills in English, including the ability to set out a coherent analysis in presentations.
- Strong diplomatic and communication skills and the ability to develop effective working relationships with clients and counterparts at the appropriate levels,
- Ability to represent IFAD in international fora.
Minimum recruitment qualifications
Education
- Advanced university degree or equivalent from an accredited institution in Finance, Accounting, Business Administration or related area.
- Certified Public Accountant (CPA) or Certified Management Accountant
Experience
- Technical: At least 12 years of progressively responsible professional experience in international financial management and accounting policies preferably acquired in both public and private sector or in another international financial institution.
- Managerial: Progressively responsible supervisory / team leader experience is required.
Language requirements:
- Excellent written and verbal communication skills in English. Working knowledge of another official language (Arabic, French, or Spanish) is desirable.
