United Nations Development Programme, Kuala Lumpur, Malaysia
Closing Date for Applications:
The Finance Associate reports directly to Chief, Payroll Finance Oversight (PFO). PFO is part of the Financial Performance Management and Reporting (FPMR) unit within OFRM. The Finance Associate conducts various activities related to the billing for UNDP’s Medical Insurance Plan (MIP) premiums to retirees as well various accounting tasks and analysis related to MIP accounts. The incumbent will work closely with the Country offices, Policy Unit/OHR, GSSU and Cigna to ensure efficient service.
Duties and Responsibilities
- The Finance Associate is responsible for the management and implementation of the financial functions listed below, including but not limited to:
- Conducts various activities related to ongoing MIP after service health insurance authorization and monthly billing of MIP premium via the Pension Fund (UNJSPF). Also, undertakes annual billing exercise for agency and locally collected.
- Ensures adjustments to premiums related to changes in coverage, annual cost of living adjustments (COLA) and exchange rates
- Consolidates census data from ERP system needed by external actuary for preparing annual estimate of UNDP’s MIP liabilities. Conducts various quality checks and cross-validations to ensure data accuracy.
- Engages with GSSU to reconcile payments made to the 3rd party plan administrator (Cigna).
- Engages with Offices/Country Offices to troubleshoot and resolve reimbursement issues to beneficiaries, including via UNDP’s voucher payment procedure.
- Communicates with Retirees, Country Offices UNJSPF and other UN agencies to respond to various inquiries and resolve issues related to authorizations, billing, premium amounts, etc.
- Liaises with the Policy Unit in OHR/BMS to resolve requests for eligibility, retroactive enrollment, and requests for MIP financial data, etc.
- Participates with the Policy Unit in discussion with the Third Party administrator (TPA) concerning financial issues, when required;
- Reviews transactions in the MIP related accounts and prepares general ledger entries to clear errors, transfer funds or adjusts balance as per actuarial valuation. Requests budget for special expenses as needed.
- Prepares data and graphs for MIP Board as requested.
- Knowledge of accounting concepts, principles, regulations, and policies and ability to apply to strategic and/or practical situations
- Ability to examine and verify accounts and records
Financial Reporting and Analysis
- Ability to evaluate financial data, derive relevant findings and present them in a meaningful manner
Leadership and Self-Management
- Demonstrates openness to change and ability to manage complexity and has ability to manage multiple projects simultaneously, prioritize issues and handle potentially stressful situation.
- Ability to identify and execute opportunities to improve operational efficiency
- Accurately accumulating information and its analysis; forecasting potential problems and planning; allowing for alternative, creative solutions and identifying most reasonable solutions
- Ability to capture, develop, share and effectively use information and knowledge
Required Skills and Experience
- Secondary Education with specialized certification in Accounting and/or Finance.
- Bachelor Degree in Finance or Accounting desirable
- Part-qualified accountants from an internationally accredited institute of accountancy will have a distinct advantage.
- Long-listed candidates will be required to undergo the UNDP Accountancy & Finance Test
- Minimum 7 years with Secondary Education or 4 years with a Bachelor Degree, of progressively responsible finance and accounting experience is required, preferably in an international setting.
- Hands-on experience of ERP systems, preferably Peoplesoft or Oracle Cloud is highly preferred
- Experience in the usage of computers and MS Office packages. Advanced knowledge of spreadsheet and database packages.
- Knowledge of IPSAS and/or IFRS is required for external candidate
- Proficiency in English.
- Working knowledge of other UN language is desirable