Overview
Oversee the Middle Office (MO) function within the Treasury Division, ensuring financial risks are identified, monitored, and reported, and that Treasury policies and risk management best practices are applied.
Key Responsibilities
- Monitor counterparty (credit) risk for HQ and Country Office bank accounts.
- Control of Global IOM Internal bank accounts.
- Conduct the annual calculation of Expected Loss (ECL).
- Procure, maintain, and administer credit risk assessment tools and systems.
- Monitor operational risks within Treasury processes.
- Generate and analyse risk reports.
- Ensure front office activities remain within approved risk limits.
- Maintain and regularly update the Treasury Risk Register.
- Develop and track key risk indicators (KRIs).
- Conduct periodic stress testing and scenario analysis.
- Assess and monitor bank service charges.
- Manage the Master Banking Agreements (MBA) for Core Banks.
- Control and maintain bank signatory lists.
- Ensure appropriate segregation of duties (SoD).
- Lead the Know Your Customer (KYC) process for HQ banking and investment counterparties.
- Maintain a structured database of banking contacts.
- Manage the corporate credit card program for Headquarters.
- Review the competitiveness of foreign exchange (FX) providers.
- Ensure adherence to applicable financial regulations and internal Treasury policies.
- Monitor Sanctions compliance and Office of Foreign Assets Control (OFAC) licence requirements.
- Coordinate within the Treasury team for timely updates to instruction IN209 and revisions to the Financial Management and Reporting Policy (FMRP).
- Act as Treasury focal point for regulatory bodies, internal auditors, and external auditors.
- Monitor regulatory developments relevant to Treasury operations.
- Develop, implement, and maintain a robust framework of Treasury internal controls.
- Ensure compliance with internal policies and identify control gaps.
- Review and update Treasury procedure manuals and process flowcharts.
- Establish and monitor Treasury key performance indicators (KPIs).
- Prepare periodic MO performance dashboards.
- Support internal and external audit processes.
- Serve as the first point of contact within the Treasury team for all banking relationship contracts and legal documentation.
- Liaise with the Department of Legal Affairs (LEG) on various Treasury-related legal matters.
- Review, negotiate, and maintain legal agreements with banks.
- Ensure timely renewal and archiving of all contractual documents.
- Provide technical guidance and training to Country Office finance staff.
- Contribute to the development of Treasury training materials.
- Support Country Offices in the resolution of banking-related issues.
- Perform such other duties as may be assigned.
Required Experience
- Five years of relevant professional experience with a Master’s degree in Finance, Economics, Business Administration, or a related field.
- Seven years of relevant professional experience with a Bachelor’s degree in Finance, Economics, Business Administration, or a related field.
- Experience with Treasury Management Systems (TMS).
- Experience within the United Nations system or other international/multilateral organizations.
- Demonstrated experience in financial risk management in an international Treasury or financial institution context.
- Experience in producing and interpreting financial and risk reports for senior management.
- Experience in KYC processes and bank relationship governance.
Qualifications
- Master’s degree in Finance, Economics, Business Administration, or a related field from an accredited academic institution; or
- Bachelor’s degree in the above fields.
- Association of Corporate Treasurers (ACT) qualification (Fundamentals or Advanced) or equivalent recognized treasury certification (e.g., Certified Treasury Professional – CTP, CFA).
