Senior
UNDP · Madrid, Spain
Company: Job title: Finance Specialist (Payroll Finance Oversight (PFO)) - Open to internal and external applicants who are nationals of the EU, EEA and Switzerland) Location: Madrid, Spain This vacancy is open to nationals of EU Member States, Iceland, Liechtenstein, Norway, or Switzerland. Background The Bureau for Management Services’ Office of Financial Resources Management (BMS/OFRM) supports the United Nations Development Programme (UNDP) in the implementation of the 2030 agenda and UNDP’s Strategic Plan. It achieves this by developing and making fully operational a dynamic and harmonized integrated resource management framework based on comprehensive analysis that enhances UNDP’s financial and administrative performance, as well as facilitating UN reform and coherence. The primary role of BMS/ OFRM is to maintain the financial integrity of UNDP through providing functional leadership, supporting the efficient and effective management of its financial resources, promoting financial sustainability and responsible resource allocation. This is accomplished by the development and implementation of sound financial policies and practices, oversight of corporate financial management performance, and flexible scalable support to resource allocation. BMS/OFRM serves as a business partner to Bureaux and Country Offices, providing sound financial management, advisory and analytical services, with a view to continuously improve the financial management performance of business units and support Bureaux in the exercising of their oversight functions. Within OFRM, the Financial Performance Management & Reporting (FPMR) is responsible for oversight of financial reporting, the preparation and integrity of UNDP’s financial statements, and providing timely and accurate financial information in accordance with international accounting standards. FPMR fosters trust and accountability through leadership in financial policy, robust internal financial controls, and close engagement with auditors to support an unqualified audit opinion, while also delivering expert accounting and financial advisory support, addressing complex and non-routine financial issues, and overseeing financial risk related to implementing partners, enabling informed senior decision-making and sustained audit assurance. Within FPMR, there are four units: Corporate Financial Reporting (CFR): Responsible for promoting clear accountability for financial transactions and for producing UNDP’s corporate financial statements. Financial Performance Management (FPM): Responsible for managing aspects of financial performance, including the administration of the Annual Representation exercise and the Statement of Internal Control Over Financial Reporting; monitoring of financial risks related to financial statement integrity; and management of the implementing partners policy framework, including the agency-wide Harmonized Approach to Cash Transfers (HACT) framework. Payroll Finance Oversight (PFO): Responsible for the financial oversight of payroll accounting functions, as well as the reporting of employee benefits and liabilities for all UNDP personnel. Finance Integration & Technologies (FIT): provides expert, structured financial analysis to resolve complex, non-routine issues and enhance the quality and timeliness of senior decision-making. Scope of Work: The Payroll Finance Oversight (PFO) function provides financial oversight and governance over UNDP’s global payroll operations. PFO ensures the accuracy, completeness, and integrity of payroll-related financial information by establishing and monitoring controls, reviewing payroll accounting, overseeing compliance with applicable policies and financial rules, and assessing payroll-related financial risks. In fulfilling its mandate, PFO partners closely with and interacts regularly with the Global Shared Services Centre (GSSC) to align operational processes with financial governance objectives. The function acts as a critical second-line capability, supporting management through analysis, issue resolution, and coordination with service providers and internal stakeholders, while safeguarding the organization against financial, compliance, and reputational risk arising from payroll activities. Within the Payroll Finance Oversight (PFO) function, the Finance Specialist provides specialized technical expertise and serves as a Subject Matter Expert (SME) on payroll accounting, providing technical oversight, monitoring, and analysis of payroll expenses and related balance sheet accounts. The Finance Specialist works closely with the Global Payroll Services (GPS) and Benefits Entitlement Services (BES) teams within the Global Shared Services Centre (GSSC) to strengthen payroll finance processes, advise on payroll system configuration and accounting treatments to mitigate risk, and review higher-risk transactions, providing assurance over IPSAS-compliant financial recording and reporting and contributing to reduced audit risk. Duties and Responsibilities Establish effective payroll finance oversight and policy implementation: Review and maintain payroll-related financial policies, procedures, and accounting treatments affecting the financial statements, including inter-agency balances, payables, and employee benefit liabilities. Assess and strengthen the payroll control environment, including Quantum ERP (Oracle HCM) application controls, system configuration, and audit trails, proposing process and system improvements to enhance efficiency and risk management. Lead the review of payroll accounting mappings and centralized processes from Quantum ERP (Oracle HCM) through to the General Ledger, including review of segregation of duties and compliance with International Public Sector Accounting Standards (IPSAS) and industry best practices. Design, develop and maintain payroll oversight tools and reports (e.g. exception reports, dashboards, and models) to support monitoring, analysis, and periodic reporting of payroll costs and employee benefits. Provide technical oversight of payroll-related financial risks, including employee benefits, staff receivables and advances, inter-agency transfers, and unrecovered balances. Contribute to the preparation of IPSAS-compliant financial statements and other corporate financial reports, including: Planning and preparation activities, including researching applicable reporting requirements, assessing materiality, and determining reporting scope. This requires in-depth knowledge of IPSAS standards, including complex areas such as revenue recognition, leases, transfer expenses, financial instruments, employee benefits, property, plant and equipment, intangible assets, provisions and contingencies, foreign currency translation, consolidation…etc. Leading, as required, the financial statement compilation process and preparing the primary financial statements and related notes. Overseeing or performing analytical reviews, including year-over-year trend analysis, ratio analysis, and investigation of variances, for management review. Preparing draft briefing notes and talking points, including high-level insights on financial performance and the impact of changes in accounting standards, assumptions, or estimates. Establish payroll controls to comply with the Statement of Internal Control over Financial Reporting (SICFR): Develop and maintain payroll-related risk and control matrices in line with SICFR requirements, clearly documenting risks, key controls, and ownership. Lead annual control testing (as needed) for payroll processes and accounts, including walkthroughs, sample-based testing, and assessments of control design and operating effectiveness. Lead on identification of control gaps, recommend remediation actions, and oversee completion of corrective measures to timely closure, providing management with control effectiveness assessments for SICFR assertions. Lead preparation of payroll-specific inputs and documentation to support SICFR certification and overall financial reporting assurance. Liaise with OAI and external auditors on payroll-related SICFR testing, documentation, and evidence requests. Lead and promote strong SICFR compliance by advising on documentation standards, evidence retention, and control responsibilities, and by recommending system and process enhancements (including Quantum ERP (Oracle HCM) and GL configuration) to strengthen the payroll control environment. Perform payroll finance oversight and analytical functions, including: Design, implement and maintain an efficient and effective monitoring strategy for payroll-related General Ledger (GL) accounts, with a focus on material and higher-risk balances and transactions. Perform periodic reviews of payroll-related GL accounts, transactions, reconciliations between Quantum ERP (Oracle HCM) and the GL, and related adjustment journals to ensure compliance with IPSAS and UNDP policies. Oversee staff advances and payroll receivable accounts, provide aged balance analyses to offices, and support the resolution of outstanding balances, including guidance on write-offs in line with established procedures. Liaise with offices, ITM, and system vendors to troubleshoot payroll accounting issues and support system configuration, enhancements, and testing related to payroll GL accounts. Conduct complex analyses and engage with actuaries and third-party administrators to assess employee benefit liabilities (including ASHI, pensions, medical insurance, and leave) and review third-party administrator performance and stewardship reporting. Establish risk-informed financial policies and procedures, as follows: Lead research and risk analysis to inform the development of financial policies aligned with UNDP’s risk management framework and appetite. Lead in drafting and updating financial policies and procedures that incorporate risk mitigation measures and reflect operational needs. Benchmark policies against international standar
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