Overview

The Finance Associate assists in managing financial resources by monitoring and controlling assets, reserves, funds, and supplies in accordance with IOM rules and regulations. The role involves extracting and inputting data, processing invoices, and ensuring expenses are correctly allocated to projects.

Tasks Summary

• Assist in managing financial resources by monitoring and controlling assets, reserves, funds, supplies, etc.
• Extract and input data from various sources in financial or accounting systems.
• Review and process invoices and review requests for payments submitted in WAVE Oracle System.
• Perform quality assurance of the charges to project line items and ensure the proper usage of GL accounts and project budget lines.
• Ensure that expenses are correctly allocated to projects consistent with IOM's projectization criteria.
• Reviews all types of vendor payments starting from purchases to payment requests verifying that they are duly authorized, and all the supporting documents are attached therewith.
• Provide assistance to all staff services such as travel, expense claims, document retrieval, WAVE invoice, etc.
• Ensure proper and systematic completion of all posted payments and other accounting documents according to the established standards.
• Process the accounting and financial transactions in the IOM accounting system (WAVE), in accordance with IOM financial rules and practices.
• Ensure that entries are supported with approved documentations.
• Assist with invoice reconciliation for all purchases of the office, including air tickets, baggage charges, and credit card transactions.
• Ensure that all credit card charges are supported with duly signed credit card authorization forms and record the same to the relevant GL account and project budgets lines.
• Assist in providing guidance to staff related to accounting and treasury payments.
• Assist in the financial management of locally implemented projects, including accounting, budget monitoring, and preparation of financial reports.
• Provide ongoing support to Project Managers on the periodic review of budgets, proposing necessary adjustments to prevent cost overruns.
• Assist in the preparation of financial reports in compliance with donor agreements.
• Review, verify, and update the financial and budgetary information of newly created project proposals and project revisions in PRIMA.
• Assist in performing financial analyses and reconciliation of account balances and providing response to Regional Accounting Support in Panama.
• Monitor and perform follow up of any outstanding vendor accounts on a regular basis.
• Review treasury transactions, generate bank reports and coordinate to bank approvers for payment authorization.
• Perform regular bank reconciliation, monitor outstanding checks and coordinate to bank account representative to stop and cancel long overdue checks.
• Assist in check issuance and maintenance of the office check registry.
• Perform period-end activities including monthly and yearly accounts closure.
• Assist in review and clearance of suspense, transit and clearing accounts.
• Assist the implementing the IOM Financial Management Rules and Procedures (FMRP) by applying the required internal control mechanisms and recommend/implement improvements in internal controls and accounting practices.

Experience Requirements

• Bachelor’s degree in Business Administration, Accounting, Finances, or related field with three years of relevant professional experience; or, High School diploma with five years of relevant experience
• Prior work experience with international humanitarian organizations, non-government or government institutions/organization in a multi-cultural setting is an advantage.
• Experience in SAP is a distinct advantage.

Qualification Requirements

• High School Degree/Certificate
• Bachelor’s degree in Business Administration, Accounting, Finances, or related field

Other Details

Languages Required: • Fluent in English (oral and written)

Languages Preferred: • Working knowledge in other languages.

Contract Duration: Up to 9 months

Work Modality:

Remuneration: • G5, Step 1 (USD 5,508.33 Monthly)