Background

The Office of Audit and Investigations (OAI) reports to the Administrator and is responsible for internal audit and investigation services to UNDP and its affiliated entities. OAI provides independent, objective assurance on the effectiveness of risk management and the effectiveness and adequacy of internal controls.

OAI needs to engage one skilled and experienced consultant in Investments and Financial Markets to support the Headquarters Audit Section (HAS) during the audit of UNDP’s Treasury Management.

 

Duties and Responsibilities

The consultant is required to provide Investment expertise over a period of up to six weeks to the OAI/HAS audit team conducting the audit of UNDP’s Treasury Management.

The specific tasks that the consultant will be required to perform will include:

  1. Policies and procedures - Review the adequacy of UNDP’s Investment policies and procedures and provide any recommendations to improve current practices.

  2. Investment fund management - Evaluate the performance of the investment fund managers, including performing the necessary due diligence and providing summary reporting.

  3. Portfolio analysis – Review the liquidity portfolio (which is comprised of cash balances related to programmatic funds, bilateral operations and trust funds, and the General Fund and special accounts) and asset allocations and structures and review the appropriateness of actions taken by the Treasury Unit.

  4. Monthly reporting – Review the adequacy of monthly performance reports, including but not limited to, performance data and analysis for the total fund, individual asset classes; detailed analysis, including return attribution analysis, portfolio valuation, characteristics, style and risk analysis, peer universe comparisons with funds that have similar objectives; and holdings analysis relative to benchmarks.

  5. Audit reporting - Consistent with the nature of the consultancy, which is to support the audit engagement, the consultant will develop a draft report summarizing the findings in the assigned areas to be reviewed.

Duration

The consultant will be engaged for up to six weeks from the date of signing the agreement.  

Reporting

The consultant will report to the Chief, Headquarters Audit Section, throughout the engagement.

 

Deliverables

Complete the tasks stated in the Scope of Work above, draft, as per Item 5 of the Scope of Work, the Investment section of the audit report including recommendations, and respond to the review comments from the Audit Team Leader, Chief, Headquarters Audit Section and the Quality Assurance and Policy Unit.

 

Competencies

Core Values & Ethics:

  • Demonstrates integrity and fairness

  • Display cultural sensitivity

  • Shows strong corporate commitment

  • Adheres to the standards of conduct for the international civil service and complies with UNDP regulations and rules.

 

Technical:

  • Demonstrated ability in the areas listed under the Scope of Work

 

Task Management Skills:

  • Produces timely, quality outputs

  • Exercises sound judgment/analysis

  • Develops creative solutions

  • Is able to handle multiple and time-sensitive tasks

 

Communications:

  • Writes clearly and convincingly

  • Speaks clearly and convincingly

  • Has good presentation skills

  • Listens actively and responds effectively

Required Skills and Experience

Education

  • Advanced university degree in Business, Finance or Accounting or another directly relevant field is required.

  • First level degree in combination with a combination of formal professional training in Business, Finance and Accounting, may be accepted in lieu of an advanced degree.

Experience

  • At least seven (7) years of experience in the Investments and Financial Markets is required.

  • Knowledge of UNDP or the UN System.

  • Familiarity with Investments policies and practices applicable to UNDP or the UN System.

  • Audit experience in the Investments and Financial Markets is desirable.

Language Requirements

  • Fluency in oral and written English is required.

How to apply

Interested candidates must apply through the UNDP Job site:

- Use the cover letter part provided in the website;

- Upload CV or P11 to UNDP job-site;

- Applicants who are long-listed will be asked to submit their financial proposal into the designated email address within the given deadline.

- TOR, P11 template, financial proposal template and Procurement Notice with details on evaluation criteria are posted in the UNDP Procurement Website with the link: http://procurement-notices.undp.org/view_notice.cfm?notice_id=53277