Investment Specialist (Foreign Exchange Trader & Treasury Operations) - [Open to internal and external applicants]

 

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 Bureau and Country Offices, providing sound financial management, advisory and analytical services, with a view to continuously improving the financial management performance of business units and supporting Bureau in the exercising of their oversight functions. 

Within OFRM, the Treasury Division oversees cash, currency and banking risks globally in over 130 countries and over 100 currencies, managing the organization’s liquidity with centralized investment of excess cash balances to meet its liabilities.  Treasury Division maintains policy and oversight of global payments and receivables, cash management, manages banking relationships, compliance, and KYC.  The Treasury Division safeguards UNDP’s financial assets and ensures efficient, transparent global payments supporting programme delivery. As digital technologies transform global finance, Treasury is accelerating modernization to enhance speed, cost efficiency, transparency, and automation.

 

Position Purpose

Reporting to the Investment Manager , Treasury Division, Office of Financial Resources Management, the Investment Specialist is responsible for the tactical execution and implementation of UNDP’s investment and foreign exchange operations, including treasury services provided to other UN agencies under established service level agreements. The Investment Specialist supports the efficient deployment and implementation of approved strategies and ensures the accurate and timely execution of transactions in accordance with UNDP investment guidelines, policies, and risk parameters.

The Investment Specialist serves as a technical specialist in foreign exchange, money markets, fixed income instruments,  and banking operations. This role contributes expert analytical input and operational guidance to Treasury colleagues, other OFRM units and Country Offices and supports a client-oriented approach through continuous engagement with external counterparties, custodians, banks, and market service providers. The Investment Specialist ensures consistency with UNDP financial regulations and rules and alignment with recognized best practices in foreign exchange and investment   management.

UNDP adopts a portfolio approach to accommodate changing business needs and leverage linkages across interventions to achieve its strategic goals. This is a recognition of interconnected nature of development risks & crises that the world is facing and that call for assembling of multidisciplinary teams for an integrated & systemic response. Therefore, UNDP personnel are expected to work across issues, units, functions, teams and projects in multidisciplinary teams in order to enhance and enable horizontal collaboration.

 

Duties and Responsibilities

Design and Execution of UNDP’s Country Office (CO) Foreign Exchange Operations 

• Leads the formulation of UNDP’s FX Optimization program, to reduce volatility, improve revenue and expense predictability, and maximize purchasing power.
• Responsible for the execution and day-to-day delivery of UNDP’s foreign exchange operations in support of country office liquidity requirements, including the FX Optimization program, with the objective of managing currency risk, enhancing funding efficiency, and generating value within approved risk parameters.
• Prepare, execute, and settle foreign exchange transactions (spot, forwards, swaps, and other approved instruments) to support country office replenishments and centralized liquidity management.
• Coordinate closely with country offices to ensure timely and accurate delivery of local currency funding in accordance with operational requirements and payment schedules.
• Monitor emerging-market FX conditions, liquidity dynamics, and execution constraints, and recommend execution approaches to mitigate cost, timing, and settlement risks.
• Analyze FX execution outcomes through post-trade review, including pricing, liquidity conditions, and counterparty performance, to support continuous improvement of execution practices.
• Support the analysis of FX hedging opportunities, including the use of forwards or options where appropriate, in line with UNDP’s investment guidelines and risk framework.   

FX Exposure Analysis, Forecasting, and Performance Monitoring

• Provide analytical support to enhance visibility into FX exposures, execution outcomes, and cost drivers, support informed decision-making and effective oversight of foreign exchange activities.
• Develop and maintain analyses of FX exposures and cash-flow requirements related to country office operations, supporting liquidity planning and execution readiness.
• Contribute to the preparation of regular investment and FX reporting for management, investment committees, and client agencies, ensuring accuracy, clarity, and consistency.
• Responsible for the design and implementation of FX-related analytics, dashboards, and reporting processes, including data validation, documentation, and governance. 

Ensure Counterparty Engagement and Market Interface

• Support the effective management of relationships with financial institutions, market counterparties, and service providers involved in UNDP’s foreign exchange and treasury operations.
• Liaise with FX counterparties and banking partners to assess market conditions, pricing, liquidity availability, and operational considerations across currencies and regions.
• Monitor the financial condition, credit standing, and performance of FX counterparties used in country office and treasury operations.
• Support onboarding, documentation, and ongoing maintenance of counterparty relationships in coordination with relevant internal stakeholders.
• Engage with market participants to remain informed of market developments, execution practices, and evolving best practices relevant to UNDP’s operating environment.

Lead Risk Management, Controls, and Operational Resilience

• Contribute to a strong risk and control culture by ensuring FX activities are executed in compliance with UNDP policies, internal controls, and enterprise risk management standards.
• Execute FX operations in accordance with approved investment guidelines, delegated authorities, and internal control procedures.
• Identify, assess, and escalate financial and operational risks related to FX execution, settlement, and counterparty exposure.
• Support the remediation of audit findings, risk events, and control deficiencies related to treasury and FX activities.
• Contribute to the development and maintenance of risk-monitoring tools, controls documentation, and operational backup procedures to ensure business continuity.
• Utilize treasury and market systems (e.g., ERP platforms, treasury management systems, custodial and market data platforms) to support execution, monitoring, and reporting.

Provision of Operational Support, Process Improvement, and  Facilitate Knowledge Sharing 

• Guide and Support the effective functioning of the Investment Unit through operational coverage, process enhancement, and knowledge-sharing initiatives.
• Provide operational backup and cross-coverage for other Investment Specialist(s) and act as backup for the Investment Associate, as required.
• Support the administration of UNDP’s investment portfolios and reserves, including the after-service health insurance (ASHI) and end of service (EOS) assets, as assigned.
• Contribute to the development, maintenance, and periodic review of standard operating procedures, process documentation, and training materials.
• Identify opportunities to improve operational efficiency, data usage, and workflow effectiveness within FX and investment operations.
• Participate in cross-training, knowledge networks, and communities of practice to strengthen institutional capability and operational resilience across Treasury functions. 

The incumbent performs other duties within their functional profile as deemed necessary for the efficient functioning of the Office and the Organization.

Supervisory/Managerial Responsibilities: None

 

Competencies

• Core Competencies: 

Achieve Results: LEVEL 3: Set and align challenging, achievable objectives for multiple projects, have lasting impact.

Think Innovatively: LEVEL 3: Proactively mitigate potential risks, develop new ideas to solve complex problems.

Learn Continuously: LEVEL 3: Create and act on opportunities to expand horizons, diversify experiences.

Adapt with Agility: LEVEL 3: Proactively initiate and champion change, manage multiple competing demands. 

Act with Determination: LEVEL 3: Think beyond immediate task/barriers and take action to achieve greater results.

Engage and Partner: LEVEL 3: Political savvy, navigate complex landscape, champion inter-agency collaboration.

Enable Diversity and Inclusion: LEVEL 3: Appreciate benefits of diverse workforce and champion inclusivity.

 

• Cross Functional and  Technical Competencies:

Business Direction & Strategy - System Thinking: Ability to use objective problem analysis and judgement to understand how interrelated elements coexist within an overall process or system, and to consider how altering one element can impact on other parts of the system.

Business Development - Knowledge Generation 

• Ability to research and turn information into useful knowledge, relevant for context, or responsive to a stated need. 
• Ability to apply existing concepts to new situations, and to develop new concepts to generate workable solutions and new approaches. 
• Knowledge of relevant concepts, conceptual models, and theories that can be useful in addressing new situations.

Business Management - Portfolio Management

• Ability to select, prioritize and control the organization’s programmes and projects, in line with its strategic objectives and capacity. 
• Ability to balance the implementation of change initiatives and the maintenance of business-as-usual, while optimizing return on investment. 
• Knowledge and understanding of key principles of project, programme, and portfolio management.

Finance - Treasury Cash Management

• Ability to manage organization's cash and investment holdings with the ultimate goal of maximizing liquidity and mitigating risks. 
• Understands the economic environment, interest rates and the importance of economic forecasting. 
• Understands and can implement a treasury management strategy, including cash flow management, debt management and investment strategies. 

Finance - Investment management: Ability to manage organization’s assets such as equity, bonds, cash, etc. according to the investment guidelines.

Finance - Foreign exchange management: Ability to manage foreign exchange exposure and understand the usage of FX products to hedge exposure such as spot, forward, swaps and options to protect contributions.

Finance - Financial risk management: Ensures financial resilience through proactive assessment of risk, implementation of controls and taking mitigating action. Understands risk and reward in relation to collaborative and commercial projects. Ensures a culture of positive risk management.

 

Required Skills and Experience

Education:

• Advanced university degree (master’s degree or equivalent) in Finance, Business Administration, International Economics, or a directly related field is required. Or 
• A first-level university degree (bachelor’s degree) in the areas stated above, in combination with an additional two years of qualifying experience will be given due consideration in lieu of the advanced university degree.
• Professional certification in finance or investment (e.g., CFA, ACT, CTP, CPA or equivalent) is required. 

Experience:

• A minimum of seven (7) years (with master’s degree) or nine (9) years (with bachelor’s degree) of progressively responsible professional experience in treasury, finance, investments or a related field is required.
• At least four (4) years’ of experience in corporate treasury operations, FX operations or cash and liquidity management in a multi-currency context  within a large, complex organization is required.
• Demonstrated experience in foreign exchange and financial risk management, including exposure to foreign exchange risk, market, liquidity, credit  is required.
• Experience working with financial systems and analytical tools (e.g., ERP platforms, Treasury Management Systems, custodial platforms, investment or market data systems) is required.
• Experience in monitoring and overseeing externally managed investment portfolios and/or managing internally managed funds is desirable.
• Experience in developing financial or risk reports, dashboards, or analytical outputs to support management decision-making is desirable.
• Experience working in an international organization, multilateral institution, or public-sector environment is an advantage.
• Demonstrated experience in AI, digital transformation, and process automation. Eager to explore and apply new technologies.

Language

• Fluency in English, in both oral and written, is required.
• Working knowledge of another UN language is an advantage.

 

Equal opportunity

As an equal opportunity employer, UNDP values diversity as an expression of the multiplicity of nations and cultures where we operate and, as such, we encourage qualified applicants from all backgrounds to apply for roles in the organization. Our employment decisions are based on merit and suitability for the role, without discrimination. 

UNDP is also committed to creating an inclusive workplace where all personnel are empowered to contribute to our mission, are valued, can thrive, and benefit from career opportunities that are open to all.

Sexual harassment, exploitation, and abuse of authority

UNDP does not tolerate harassment, sexual harassment, exploitation, discrimination and abuse of authority. All selected candidates, therefore, undergo relevant checks and are expected to adhere to the respective standards and principles. 

Probation

For all new UNDP fixed term appointments (FTA), including for staff members being transferred or seconded to UNDP under the Inter-Organization Agreement concerning Transfer, Secondment or Loan of Staff, on an appointment of more than one year, continuation of the appointment beyond the initial 12 months is contingent upon the successful completion of a probationary period.

Right to select multiple candidates

UNDP reserves the right to select one or more candidates from this vacancy announcement.  We may also retain applications and consider candidates applying to this post for other similar positions with UNDP at the same grade level and with similar job description, experience and educational requirements.

Use of AI by candidates

 

Applicants are invited to read UNDP’s guidance for candidates on using AI responsibly in UNDP recruitment and selection

Scam alert

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