Treasury Associate-[Open to internal and external applicants] at UNDP

Madrid, Community of Madrid, Spain -

Full Time

Start Date

Immediate

Expiry Date

25 Jun, 26

Salary

0.0

Posted On

27 Mar, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Cash Management, Compliance Monitoring, Liquidity Management, Investment, Payments, Receivables, Banking Relationships, KYC, Data Analysis, Cashflow Forecasting, EFT Processing, Bank Signatory Management, Internal Control Framework, Excel, BI, Database Packages

Industry

International Affairs

Description

This vacancy is open to UNDP/UNCDF/UNV staff holding permanent (PA) and fixed-term (FTA) appointments of all nationalities. Other applicants must be nationals of an EU Member State, Iceland, Liechtenstein, Norway, or Switzerland. Background The Bureau for Management Services’ Office of Financial Resources Management (BMS/OFRM) supports the United Nations Development Programme (UNDP) in the implementation of the 2030 agenda and UNDP’s Strategic Plan. It achieves this by developing and making fully operational a dynamic and harmonized integrated resource management framework based on comprehensive analysis that enhances UNDP’s financial and administrative performance, as well as facilitating UN reform and coherence. The primary role of BMS/ OFRM is to maintain the financial integrity of UNDP through providing functional leadership, supporting the efficient and effective management of its financial resources, promoting financial sustainability and responsible resource allocation. This is accomplished by the development and implementation of sound financial policies and practices, oversight of corporate financial management performance, and flexible scalable support to resource allocation. BMS/OFRM serves as a business partner to Bureaux and Country Offices, providing sound financial management, advisory and analytical services, with a view to continuously improve the financial management performance of business units and support Bureaux in the exercising of their oversight functions. Within OFRM, the Treasury Division oversees cash, currency and banking risks globally in over 130 countries and over 100 currencies, managing the organization’s liquidity with centralized investment of excess cash balances to meet its liabilities. Treasury Division maintains policy and oversight of global payments and receivables, cash management, manages banking relationships, compliance, and KYC. The Treasury Division safeguards UNDP’s financial assets and ensures efficient, transparent global payments supporting programme delivery. As digital technologies transform global finance, Treasury is accelerating modernization to enhance speed, cost efficiency, transparency, and automation. Job Purpose Under the direct supervision of the Treasury Specialist, the Treasury Associate provides support and services in the day-to-day cash management areas, monitoring of imprest cash levels, conducts compliance monitoring, and problem solves for local cash management, cash replenishment from HQ, petty cash operations, and bank account and signatory management. The incumbent works closely with the Treasury Officer and Treasury Associates within the team, Investment Specialist in the Investment unit to process CO replenishment through FX Optimization program, repatriation of excess fund, and to support with the data analysis for CO imprest management, cashflow forecasting, to ensure a resilient, flexible, and scalable global support model. UNDP adopts a portfolio approach to accommodate changing business needs and leverage linkages across interventions to achieve its strategic goals. This is a recognition of interconnected nature of development risks & crises that the world is facing and that call for assembling of multidisciplinary teams for an integrated & systemic response. Therefore, UNDP personnel are expected to work across issues, units, functions, teams and projects in multidisciplinary teams in order to enhance and enable horizontal collaboration Duties and Responsibilities 1.) Facilitate and Process Direct Replenishment Requests Submitted by Country Offices * Review replenishment requests submitted through UNall or other channels for accuracy and compliance against the established imprest management and available liquidity, and process the requests. * Analyse Country Office cash flow needs, Process EFTs in FIS/Integrity. 2.) Ensure Bank Signatory updates of Country Office Bank accounts including review of internal control compliance. * Periodically review the aging status of bank account signatories changes to ensure the accuracy. * Process bank signatory updates for ZBAs, review and verify bank accounts signatory updates processed by COs; * Prepare documentation for management approval, maintain accurate signatory records, and liaise with bank personnel as required. 3.) Monitor and manage open cases and inquiries from Country Offices to ensure timely resolution. * Address zero-balance accounts (ZBA) payment inquiries, Service Now (UNall) inquiries from country offices, recall and returned/rejected payments; * Review and authorize imprest requests, petty cash exception requests; * Resolve Agency Service Clearing Account (SCA) replenishment issues and escalate recurring deficit cases. 4.) Coordinate distribution/communication of monthly United Nations Joint Staff Pension Fund (UNJSPF) payments to Retirees. * Communicate distribution of monthly UNJSPF payments to retirees to selective Country Offices. * Monitor and communicate with UNJSPF for monthly replenishment of pension payments; * Provide support and in collecting local exchange rates from COs, update worksheet and submit as per the schedule for set up of UNORE; * Execute manual upload in ERP for specific currencies UNORE; 5.) Monitor country office compliance with the Internal Control Framework, cash management procedures and prepare periodic country office/ Bureau Cash Management Review and support knowledge management * Monitor bank balances in CO bank accounts to assess receipts of local contributions, identify the excess cash against the benchmark established in imprest level; * Identify and follow up on aged petty cash and cash arrangement exceptions. * Support annual Treasury Certification. * Prepare quarterly analytical reviews of Country office and bureaux for One-pagers.; * Identify, synthesize and document best practices and lessons learned The incumbent performs other duties within their functional profile as deemed necessary for the efficient functioning of the Office and the Organisation. 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 Cross-Functional & Technical competencies Business Direction and Strategy Business Acumen * Ability to understand and deal with a business situation in a manner that is likely to lead to a good outcome. * Knowledge and understanding of the operational frameworks in the organization and ability to make good judgments and quick decisions within such frameworks Business Development Knowledge Generation * Ability to research and turn information into useful knowledge, relevant for context, or responsive to a stated need. Ability to apply existing concepts to new situations, and to develop new concepts to generate workable solutions and new approaches. * Knowledge of relevant concepts, conceptual models, and theories that can be useful in addressing new situations. Business Management Communication * 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. Business Management Customer Satisfaction/Client Management * Ability to respond timely and appropriately with a sense of urgency, provide consistent solutions, and deliver timely and quality results and/or solutions to fulfil and understand the real customers' needs. Provide inputs to the development of customer service strategy. * Look for ways to add value beyond clients' immediate requests. Ability to anticipate client's upcoming needs and concerns. Finance 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. Finance Treasury Cash Management * Ability to manage organization's cash and investment holdings with the ultimate goal of maximizing liquidity and mitigating risks. 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. Finance Due Diligence Management * Ability to conduct a comprehensive appraisal of an organization or opportunity to be undertaken by a prospective investor or partner, especially to establish its assets and liabilities, as well as evaluate the potential opportunity and its related risks; knowledge of respective methodology and tools. Required Skills and Experience Education: * Completion of Secondary Education is required with specialized certification in Accounting, Finance or Treasury. Or * First level University degree (bachelor’s degree) in Finance or Accounting or equivalent field will be given due consideration, but not a requirement. * Part-qualified accountants from a recognized institute of accountancy, or relevant Treasury qualification, will have a distinct advantage. * Fully Qualified Accountant, from an 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 university 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: * A minimum six (6) years (with High School Diploma) or three (3) years( with Bachelor’s Degree) of relevant experience in corporate treasury, FX operations, or financial analytics, ideally in payments or fintech industry. * Advanced proficiency in Excel, BI and database packages is required. * Experience and understanding of global payment systems, banking, and SWIFT is required. * Experience with ERP financial systems (e.g., Oracle) is desirable. * Proven track record of sound knowledge of IPSAS, IFRS and/or GAAPs is required. * Demonstrated experience est in AI, digital transformation, and process automation. Eager to explore and apply new technologies is desired. * Experience working as a collaborative team player, with the flexibility to operate across global time zones, is preferred. * Knowledge and experience of UNDP financial policies and procedures is an asset. Languages: * Fluency in the English language, both oral and written, is required. * Working knowledge of another UN language is an advantage Equal opportunity As an equal opportunity employer, UNDP values diversity as an expression of the multiplicity of nations and cultures where we operate and, as such, we encourage qualified applicants from all backgrounds to apply for roles in the organization. Our employment decisions are based on merit and suitability for the role, without discrimination. UNDP is also committed to creating an inclusive workplace where all personnel are empowered to contribute to our mission, are valued, can thrive, and benefit from career opportunities that are open to all. Sexual harassment, exploitation, and abuse of authority UNDP does not tolerate harassment, sexual harassment, exploitation, discrimination and abuse of authority. All selected candidates, therefore, undergo relevant checks and are expected to adhere to the respective standards and principles. Probation For all new UNDP fixed term appointments (FTA), including for staff members being transferred or seconded to UNDP under the Inter-Organization Agreement concerning Transfer, Secondment or Loan of Staff, on an appointment of more than one year, continuation of the appointment beyond the initial 12 months is contingent upon the successful completion of a probationary period. Right to select multiple candidates 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. Use of AI by candidates Applicants are invited to read UNDP’s guidance for candidates on using AI responsibly in UNDP recruitment and selection [https://www.undp.org/careers/using-ai-responsibly-undp-recruitment-and-selection] Scam alert UNDP does not charge a fee at any stage of its recruitment process. For further information, please see www.undp.org/scam-alert.

Responsibilities

The Treasury Associate supports daily cash management, including monitoring imprest levels, conducting compliance checks, and resolving local cash management issues like replenishments and petty cash operations. This role involves close collaboration with team members and the Investment Specialist to process replenishments, repatriate funds, and support data analysis for forecasting and imprest management.