Investment Associate (Office Based) - [Open to Tier 1 & 2 applicants]

Background

The Office of Financial Management (OFM), Bureau for Management Services (BMS), supports the United Nations Development Programme (UNDP) in the promotion of its sustainable human development agenda. 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 facilitates UN reform and coherence.  To these ends, the framework addresses strategically critical financial resource planning and management issues, including results based budgeting;  the integration of the Programming Arrangements and the Institutional Budget within the context of the integrated budget from 2014 onwards; enhanced cost classification and cost recovery;  capital budgeting; adherence to IPSAS;  foreign exchange and investment activities; corporate reporting of organizational assets; performance management tools and initiatives; and support to UN harmonization.

Within the BMS is the Treasury Division, which provides Investment and cash management of UNDP funds, including other services such as, banking strategy, banking payment structure, payment processing to UNDP Offices globally, partnered sister agencies, and other HQ units and a range of support services to country office operations.

Duties and Responsibilities

Responsible for the preparation of cash forecasts for UNDP’s major currencies and determination of daily cash position:

• Ensure adequate funding in bank accounts at UNDP headquarters as well as other UN Agencies managed by UNDP including the Multi-partner Trust Fund, Peace Builders Fund, UN Women, UNFPA, UNCDF, UNITAR, and UNSSC. 
• Initiate bank transfers between accounts for optimal cash utilization.
• Conduct cash flow analysis, financial risk analysis and any other cost-benefit analysis and make recommendations as appropriate.
• Recommend optimal imprest level for major foreign currencies. 
• Initiate purchases/redemptions from money market funds 
• Approve disbursement requests in non-USD. 
• Advise currency requirements to Investment Officer for purchase.
• Manage internal borrowing/lending in interfund accounts to ensure timely recovery of UNDP working capital.

Assist in the routine operations of the Investment Unit:

• Ensure Investment Unit transactions are settled on value date.
• Monitor and reconcile investment transactions in HQ bank accounts daily. 
• Coordinate with Operations Unit on any reconciliation items.
• Inform Investment Officer of significant contributions received.
• Support the administration of UNDP’s after-service health insurance reserves. 
• Provide business level support for operational enhancements related to the TMS/ERP, including monitoring and updating bank statement processing rules and mapping.
• Assist in the development, update and maintenance of SOPs as well as presentation materials used for training purposes. 
• Assist with ad hoc requests from investment officers. 
• Act as third level back up for the execution of foreign exchange transactions to adequately fund headquarter bank accounts. 
• Act as backup for the Multi-Partner Trust Fund Treasury Associate. 
• Assist with any other responsibilities as designated by the CIO or Treasurer. 

Country office foreign exchange replenishment:

• Responsible for FX Optimization program, including trading and roll out to scale for CO liquidity requirements, for purposes of risk management and generation of value-add while optimizing currency balances at the CO level.
• Monitors financial conditions and credit ratings of financial institutions used by UNDP for country office replenishment.   
• Manages currency exposure including the preparation and execution of foreign exchange transactions for country office replenishment. 
• Coordinate with country offices to ensure the timely delivery of local currency. 

Reporting:

• Support the regular publication of investment reports: foreign exchange gain/loss, return on investments, and other investment metrics.
• Prepare monthly disbursement analysis reports
• Develop additional reports for the investment unit to actively track performance and risk
• Work with other units within UNDP (Quantum, OFM Innovations and Solutions, etc.) in the development of new investment reports 

The incumbent performs other duties within their functional profile as deemed necessaryfor the efficient functioning of the Office and the Organization.

 

 Institutional Arrangements

 

The Investment Associate will be