Project Finance Specialist

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About the Organization

As the lead United Nations agency on international development, UNDP works in 170 countries and territories to eradicate poverty and reduce inequality. We help countries develop policies, leadership skills, partnerships and institutional capabilities to achieve the Sustainable Development Goals. Our work is centred around six core development areas, known as our signature solutions: poverty and inequality, governance, resilience, environment, energy and gender equality.

Job Description/Responsibilities

The Project Finance Specialist will report directly to the Project Manager of the Health Systems Strengthening (HSS) Project, who will provide strategic guidance, performance oversight, and overall direction. The Project Finance Specialist will work in close coordination with the Project Operations Analyst to ensure integrated planning and smooth implementation of financial and operational functions within the project. This collaboration will be essential for aligning financial management with procurement, human resources, and administrative workflows.

The Project Finance Specialist will also supervise the Project Finance Associate, providing day-to-day direction, quality assurance, and capacity development support. The Finance Associate will report to the Finance Specialist for functional responsibilities, contributing to the overall efficiency and compliance of the project’s financial operations.

Ensure implementation of financial and operational strategies, adapt processes and procedures focusing on the achievement of the following results:

 Ensure full compliance with UN/UNDP rules, regulations, and policies of financial activities, financial recording/reporting system, and follow-up on audit recommendations.

• Implementation of effective internal controls, proper functioning of a client-oriented financial resources management system;
• Undertake management of financial cost sharing and cost sharing agreements;
• ensuring elaboration of proposals and implementation of cost-saving and reduction strategies in consultations with the project team;
• Proactively assist in continuous analysis and monitoring of the financial situation, and presentation of forecasts for the project.
• Monitoring financial reports for unusual activities, transactions, and investigating anomalies regularly

Financial Oversight & Reporting:

• Ensuring the timely preparation and submission of Statement of Expenditure and financial reports while ensuring accuracy and compliance with UNDP policies and donor requirements.
• Guiding and leading the project’s finance, managing outstanding financial claims by expediting the certification process and settlement of pending payments to maintain smooth financial operations, pre-finance mechanisms, and avoiding fund utilization gaps.
• Designing, refining, and implementing financial tracking systems for real-time monitoring of state contributions, pending claims, and cash flow.
• Developing financial forecasting models to support budget planning and fund allocation strategies.
• Ensuring an efficient financial flow process while identifying and addressing bottlenecks.
• Provide high-level financial analysis and strategic recommendations to project leadership for informed decision-making.
• Review multi-donor budgets and ensure accurate budget processing in the system, aligning with approved work plans.
• Identify gaps between the budget and expenditures and highlight them for corrective action.

Process Optimization and Operational Efficiency:

• Reviewing existing processes for expenditure, certification, cross-charging, and payment mechanisms.
• Lead the backlog clearance of financial certifications and ensure the system is streamlined for future financial reporting.
• Maintaining a document management system and financial records to improve audit readiness and compliance.
• Leverage technology to design financial tracking dashboards for real-time, comprehensive monitoring of multi-donor budgets and fund utilization.

Risk Management and Compliance Strengthening:

• Establish a proactive risk management system to mitigate financial risks, including cash flow shortages and funding gaps.
• Ensuring compliance with UNDP financial regulations, donor requirements, internal controls, and accountability mechanisms.
• Supporting audit preparations and responses to audits by UNDP and donors, in line with donor agreements, UNDP rules and regulations, policies, and procedures, and ensuring the timely implementation of audit recommendations and findings.
• Develop and institutionalize SOPs to streamline financial management and donor funding.
• Conducting periodic internal reviews to proactively identify financial compliance issues and address them before audits.
• Ensure that the project team adheres to the approved agreements regarding financial allocations, preventing unauthorized deviations in spending.
• Provide financial quality assurance to maintain adherence to project budgets and donor conditions.

Management of Staff and Coordination:

• Supervise and provide performance management support to the Project Finance Associate.
• Ensure effective workload distribution and oversight of financial documentation prepared by the Project Finance Associate.
• Conduct periodic performance reviews, providing guidance and capacity-building to enhance staff competencies. Promote a collaborative work environment and ensure alignment of financial responsibilities within the team. 6. Capacity Building & Coordination
• Providing technical guidance to finance and relevant project colleagues on financial documentation, reporting standards, and overall finance management.
• Foster cross-functional collaboration between CO finance, programme, and procurement teams to ensure seamless financial management through improved cross-functional workflows.
• Establish clear communication mechanisms for financial updates, reporting, and decision-making.
• Conducting capacity-building sessions for regional project analysts and operations associates to build long-term financial management capacity and ensure consistent financial practices.

Knowledge Building and Sharing

• Documenting lessons learned from financial management processes and recommending improvements for future projects linked to Government financing.
• Contribute to the development of financial best practices for government-financed health initiatives.

Education Qualification/Required Skills & Experience

• Bachelor degree or equivalent in accounting from an internationally accredited institute of accountancy, and/or an Advanced University Degree (Master’s degree or equivalent) in Finance and/or Accounting is required. Candidates with professional accounting qualifications from an internationally accredited institute of accountancy will have a distinct advantage.
• A first-level university degree (bachelor’s degree) in combination with an additional two years of qualifying experience will be given due consideration in lieu of the advanced university degree.

Skills and experience

• Candidates are required to have a minimum of three (3) years of relevant professional experience in providing financial management services, and/or managing staff and operational systems. Experience of IPSAS and/or IFRS is required for external candidates.
• Demonstrated experience working with UNDP’s financial regulations and rules, including:
  • UNDP’s Programme and Operations Policies and Procedures (POPP),
  • Financial Resource Planning (FRP) and budgeting processes,
  • Quantum ERP (or previous Atlas system) for transaction processing and reporting,
  • Donor financial reporting, including compliance with cost classification, budgeting, and certified financial reporting requirements.
  • Experience in the use of computers and office software packages (MS Word, Excel, etc.) and advanced knowledge of web-based management systems such as ERP financials and database packages is required.
  • Proven experience in financial reporting, budgeting, multi-donor funding management, and compliance with international financial regulations.
  • Proven familiarity with UNDP financial regulations and donor compliance frameworks.
  • Proven ability to work independently and prioritize to meet multiple competing deadlines.
  • Professionally qualified accountants from an internationally recognized institute of accountancy will have a distinct advantage.
  • Strong ability to optimize financial processes, track expenditures, and ensure efficient fund disbursement within large-scale development programs.
  • Excellent communication skills to collaborate across teams, advise on budget matters, and support project audits.

Languages

• English, Level: Fluent, Required

For more information please check the Link

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