Financial Services Specialist, CFOFC

DEADLINE FOR APPLICATIONS

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 or disability.

ABOUT WFP

The World Food Programme is the worlds largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace stability and prosperity for people recovering from conflict disasters and the impact of climate change.

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 WFPs values (Integrity Collaboration Commitment Humanity and Inclusion) and working with partners to save and change the lives of those WFP serves.

To learn more about WFP visit our website: follow us on social media to keep up with our latest news: YouTube LinkedIn Instagram Facebook Twitter TikTok.

WHY JOIN WFP

• 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.

• We offer an attractive compensation package (please refer to the Terms and Conditions section of this vacancy announcement).

JOB TITLE: Financial Services Specialist

TYPE OF CONTRACT: Regular Consultant Business Development CBT

UNIT/DIVISION: CFOFC

DUTY STATION (City Country): remote from Permanent Place of Residence

DURATION: 6 months extendable

BACKGROUND AND PURPOSE OF THE ASSIGNMENT: Cash-based transfers (CBT) represent an increasing share of WFPs total humanitarian assistance and comprise of assistance distributed as physical banknotes e-money mobile money vouchers or debit 2024 WFP transferred over US$ 2.2 billion to 46.9 million people in 75 countries in partnership with 127 Financial Services Providers (FSP) and other partners. 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 support of WFPs CBT operations the Finance function through the Business Development and Cash Based Transfers Branch (CFOFC) is accountable for corporate guidance and tools providing day-to-day technical advice and assistance to country offices while also undertaking a range of staff capacity-building activities and initiatives. As CFOFC 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.

ACCOUNTABILITIES/RESPONSIBILITIES:
The Financial Services Specialist will report to the Team Lead of FSP Due Diligence in CFOFC and will undertake the following tasks:
Main tasks:

Support the development of relevant policies procedures and tools that would set a corporatestandard for managing Financial Service Providers (FSPs) risks and performance andprepare relevant analytical reports and outputs. Namely
a. Risk monitoring of FSP financial risks in CBT. Track FSP related risks for each CountryOffice (CO) based on a set of indicators to flag high-risk CBT operations to be monitoredon a regular basis using an internally developed tracking system. This will entailperforming risk analysis and providing tailored recommendations to COs as well as thedesign and implementation of the corresponding process.
b. Lead the revision and maintenance of the Micro financial assessment (MiFA) tool andmethodology. The consultant will liaise with relevant stakeholders and ensure not only thetools usability but also adequate analysis for all FSP categories involved in CBT.
c. Continuous improvement of the FSP Due Diligence (DD) tool and FSP performance evaluation tool (PET). The consultant will support reviewing existing tools and provide recommendations for improvement
which help streamline the tools and processes of CFOFC DD team.

Advise and support Country Offices during the FSP selection and contracting process to ensure the selection of FSP(s) able to adequately support CBT operations:
a. Perform FSP due diligence: Identify strengths weaknesses and risks related to the FSP (counterparty risk) and the proposed payment solution and recommend risk mitigation measures to reduce WFPs risk exposure. Review Micro Financial Assessments (MiFA) WFP tool for assessing FSPs financial performance.
b. Review of the financial regulatory framework to ensure FSP and WFP compliance with local regulation.
c. Ensure FSP will provide WFP with adequate reports to perform reconciliations (the reconciliation process aims to ensure the funds have reached the intended beneficiaries)

Proactively engage with COs which are planning to undertake a Due Diligence exercise to provide early coaching and support. Design and disseminate both reference and training materials on the due diligence process.

When needed:
Support initiatives on capacity building and knowledge sharing activities on financial risks management including development of relevant guidelines presentations training materials and courses.

All other duties as required

TRAVEL REQUIREMENTS: None in principle

DELIVERABLES AT THE END OF THE CONTRACT:
All Due Diligence Reports are finalized and shared with relevant Country Offices.
Relevant FSP Risk related reports
Revised MiFA tool and methodology
Revised online PET tool and relevant guidance.

QUALIFICATIONS & EXPERIENCE REQUIRED:
Education:
BA/BSc masters degree in Economics or Finance Business Administration Business Law or related fields. CFA or similar certification is desirable.
Experience:

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

Experience in project management contracting due diligence purchasing of financial services or similar fields. Experience in working for diverse socio-economic contexts.

Knowledge & Skills:
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).

WFP LEADERSHIP FRAMEWORK

WFP Leadership Framework guides to the common standards of behavior that guide HOW we work together to accomplish our mission.

Click here to access WFP Leadership Framework

REASONABLE ACCOMMODATION

WFP is committed to supporting individuals with disabilities by providing reasonable accommodations throughout the recruitment process. If you require a reasonable accommodation please contact:

NO FEE DISCLAIMER

The United Nations does not charge any application processing training interviewing testing or other fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee please disregard it. Furthermore please note that emblems logos names and addresses are easily copied and reproduced. Therefore you are advised to apply particular care when submitting personal information on the web.

REMINDERS BEFORE YOU SUBMIT YOUR APPLICATION

• We strongly recommend that your profile is accurate 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 passport recommendation letters academic certificates etc. may potentially be requested at a future time

• Please contact us at 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.