Treasury Officer, FIN

The Accounting Services Section (ASV) is responsible for the development of accounting systems, including the formulation of accounting policies and procedures; the maintenance of the accounts of the General Fund, Joint Financing Funds, Administrative and Operational Services Cost Fund and other miscellaneous funds; the maintenance of accounts for the Technical Co-operation Programme (TCP), the preparation of periodic and year-end financial statements for all accounts; the banking and cash management; the calculation of scales of assessment on Contracting States, the processing of payments and monitoring of status of assessments from Contracting States, including regional civil aviation bodies; and the preparation of working papers for the Finance Committee, Council and Assembly.

The Treasury functions include cash and investment management, foreign exchange management, liquidity forecasting, banking agreement and relationship management; the processing of payment for invoices, travel claims, fellowships and other payables, including the review and approval of duly certified invoices and other forms of payments of expenses of all funds; the maintenance of accounts for income from sales of publications, reimbursements from regional civil aviation bodies, and other collections; the processing of cashbook disbursements and UNDP SCA reports for TC Field Projects; the management of the data base for all beneficiary banking details; the verification of bank activity statement, the preparation of cash and investment related reports, the maintainance and updating of the treasury related policies and procedures, ensuring the integrity of systems; and the development of the enhanced due diligence and control procedures and mechanisms to mitigate banking and cash fraud.

The incumbent leads in the areas related to Treasury and Cashbook services and reports to the Head, General Ledger and Reporting Unit, who provides guidance as necessary, reviews the incumbent’s performance and supports her/him on complex issues.


Function 1 (incl. Expected results)

Plans, supervises and manages the day-to-day operations related to Treasury and Cashbook services, achieving results such as:

  • Supervise the staff employed in these areas in terms of delegation of assignments, performance appraisals and facilitation of administrative procedures.
  • Receive, record, and approve deposits of incoming cash to Headquarters (HQ) and Field bank accounts on a timely basis.
  • Record and reconcile all TCB field office payments through field bank accounts, petty cash, Western Union, regional offices, and UNDP Country Offices.
  • Effect the disbursement of Headquarters’ funds and process payments to the Field offices, providing them with advice on treasury matters as necessary.
  • Review the operational needs and cash requirements for all headquarters, field, and regional bank accounts.
  • Manage the cash resources of ICAO and report to Chief, Finance Branch on the cash flow situation of the Agency; invest surplus funds at the highest and safest rate of return with due regard to security, liquidity and convertibility, ensuring compliance with ICAO’s investment guidelines.
  • Make investment and foreign exchange recommendations and execute decisions once approved.
  • Monitor and report on the compliance with the investment guidelines to the Chief, Finance Branch and the Investment Committee, including any updates required on the investment policy.
  • Update/complete Financial Policies and Procedures Manual in the areas of Treasury and Cashbook.
  • Safeguard the Organization’s cash assets. Ensure internal controls and risk mitigation for banking and cash fraud at HQ and in the field are adequate.
  • Manage the Agency’s banking arrangements including appointing and changing of authorized signatories and, relations with banks and monitor services obtained (including verification of the bank fee statements, negotiation/finalization of the agreements with the banking partners through coordination with other offices); move the Agency onto on-line banking platforms where possible, including implementing online banking for Field Offices and HQs.
  • Monitor quality and accuracy of the work related to Treasury and Cashbook services to ensure timely, thorough and efficient management of unit resources and service delivery.

Function 2 (incl. Expected results)

Reviews and approves all payment remittances received from accounts payable and payroll, ensuring timely and accurate transmission of daily payments, achieving results such as:

  • Ensure timely payments to suppliers, staff, fellows, and consultants as a result of effective planning, organizing and task assignment.
  • Ensure all payment requests are accurate and received in accordance with ICAO’s Financial Rules and Regulations and the ICAO Procurement Code.
  • Work with sanctions departments to ensure that all payments meet the strict Government regulatory payment requirements implemented to combat global terrorism.
  • Approve all payments for the Organization as main signatory. Release payments to banking partners once all payment criteria have been met.
  • Purchase foreign currency on the market as required, ensuring the best rate of return from amongst ICAO’s various banking partners.
  • Review and approve all beneficiary banking details. Ensure that records match with the Agresso database of banking details.
  • Ensure method of payment is in accordance with Treasury guidelines.
  • Ensure that adequate controls are in place to minimize risk of erroneous or duplicate payments.
  • Perform long-term and short term cash forecasting and planning to ensure sufficient funds are available to cover daily remittances at individual fund level and at Organizational level.
  • Track daily payment totals and effect transfers as necessary from investment accounts.
  • Ensure efficient and timely release of payments to banking partners respecting deadlines for direct deposits and wire transfers.

Function 3 (incl. Expected results)

Prepares/supervises relevant reporting, reconciliation, swaps, interest and exchange rate recording, replenishments etc. , achieving results such as:

  • Prepare periodic reports and working papers on time deposits, interest rates, exchange rates, and other miscellaneous Treasury projections. Monitor, on a daily basis, the schedule of investments. Ensure that interest amounts received from various banking partners agree with ICAO records.
  • Approve monthly accounting entry to distribute interest from all bank accounts and investments.
  • Review and upload the monthly exchange rates in Agresso. Ensure that any mid-month changes are updated promptly.
  • Review cash balances by fund. Analyse any negative balances and perform currency SWAPs as required. Purchase and sell foreign currencies as required ensuring compliance with ICAO’s foreign currency policies and guidelines.
  • Liaise with UNDP NY and the numerous UNDP Country Offices worldwide who are acting as a payment gateway for ICAO.
  • Ensure adequate funds are on deposit with UNDP New York to meet those requested payments.
  • Balance and reconcile the monthly Service Clearing Account ensuring that all transactions are posted promptly and accurately.
  • Ensure that mid and year-end reporting requirements mandated by UNDP NY are prepared and dispatched.
  • Act as main focal point for payment processing by UNDP NY and the respective Country Offices and brief all TC project managers on proper cash management including the operation of petty cash and imprest accounts. Provide training to field and headquarters staff as required.
  • Review, reconcile, and coordinate with UNDP Country Offices for any disputes relating to inter-agencies agreement activities.
  • Review and provide opinion on project agreements signed between ICAO and Governments/external parties.

Function 4 (incl. Expected results)

Manages the cash assets of the Organization, achieving results such as:

  • Review and approve the wording of all bank guarantees, letters of credit, and performance bonds issued by banks worldwide, ensuring that these instruments conform to strict ICAO standards.
  • Liaise with various banking institutions and analyse the financial institutions’ credit worthiness to ensure that the bank meets ICAO standards.
  • Monitor the expiry dates of the approved guarantees ensuring that the Organization’s assets are protected.
  • Prepare documentation to effect any drawings as required. Liaise with Legal bureau and Procurement on any guarantee demands.
  • Provide letters of release for expired bank guarantees in conjunction with Procurement Section.
  • Act as administrator for the SharePoint bank guarantee system. Implement changes to keep pace with the banking industry.
  • Perform oversight of global cash operations (HQ and Regional Offices) and keep up-to-date on international financial developments, e.g. forecasts of exchange rates and interest rates, solvency of suppliers, etc., informing Chief, Finance Branch of major developments that may pose an organizational risk;
  • Respond to, and put in place, remedial actions relating to audit recommendations on Treasury matters and activities within scope of the work. Act as main focal point for all internal/external audit queries related to cash and banking activities.
  • Act as administrator for the Moneris accounts that the Organization operates. Negotiate rates, oversee system access rights and ensure that the cash collected is deposited promptly in the Organization’s bank accounts. Approve all reimbursements either through web-based platforms or direct point of sale terminal access.
  • Manage the Organization’s credit card programme.

Function 5 (incl. Expected results)

Performs other related duties, as assigned.


Professionalism: Proven skills in cash and foreign currencies management with excellent knowledge of international banking, including an understanding of SWAPs and exchange rate risk and its related accounting treatment; knowledge of ICC Uniform Rules for demand guarantees; demonstrated ability to operate electronic banking systems software and knowledge of standard applications; demonstrates initiative, creativity and resourcefulness, diplomacy and tact; ability to identify internal control weaknesses and enhance internal control and to mitigate the risks; ability to prepare cash forecast reports, working papers and guidelines related to treasury/ cash book and provide accounting treatments in accordance with IPSAS. Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations.

Communication: Speaks and writes clearly and effectively; listens to others, correctly interprets messages from others and responds appropriately; asks questions to clarify, and exhibits interest in having two-way communication; tailors language, tone, style, and format to match the audience; demonstrates openness in sharing information and keeping people informed.

Planning and Organizing: Develops clear goals that are consistent with agreed strategies; identifies priority activities and assignments; adjusts priorities as required; allocates appropriate amount of time and resources for completing work; foresees risks and allows for contingencies when planning; monitors and adjusts plans and actions as necessary; uses time efficiently.

Accountability: Takes ownership of all responsibilities and honours commitments; delivers outputs for which one has responsibility within prescribed time, cost and quality standards; operates in compliance with organizational regulations and rules; supports subordinates, provides oversight and takes responsibility for delegated assignments; takes personal responsibility for his/her own shortcomings and those of the work unit, where applicable.

Technological Awareness: Keeps abreast of available technology; understands applicability and limitations of technology to the work of the office; actively seeks to apply technology to appropriate tasks; shows willingness to learn new technology.

Judgement/Decision-making: Identifies the key issues in a complex situation, and comes to the heart of the problem quickly; gathers relevant information before making a decision; considers positive and negative impacts of decisions prior to making them; takes decisions with an eye to the impact on others and on the Organization; proposes a course of action or makes a recommendation based on all available information; checks assumptions against facts; determines that the actions proposed will satisfy the expressed and underlying needs for the decision; makes tough decisions when necessary



  • A first-level university degree in Finance/Accounting/Business Administration.


  • Professional certification, such as certified treasury professional (CTP) and or chartered financial analyst (CFA) certification and/or Certified Public Accountant.

Work Experience


A minimum of six (6) years of progressively responsible experience in financial management and accounting under General Accepted Accounting Principles (preferably IPSAS), with emphasis on banking and treasury operations, preferably in UN system/international environment.

Considerable experience in bank guarantees, letters of credit and performance bonds

Experience working with financial systems/finance modules of an enterprise resource planning (ERP) system.

Experience in working with different currencies.


  • Experience of technical cooperation and development assistance programmes in the United Nations or other multilateral organizations.
  • Experience in working with multiple banking partners, UNDP Country Offices and Foreign Exchange personnel.



Fluent reading, writing and speaking abilities in English.


A working knowledge of any other language of the Organization (Arabic, Chinese, French, Russian, Spanish).


Evaluation of qualified candidates may include an assessment exercise which may be followed by competency-based interview.

Special Notice

The ICAO Assembly recently reaffirmed its commitment to enhancing gender equality and the advancement of women by supporting UN Sustainable Development Goal 5 “Achieve gender equality and empower all women and girls.”

Female candidates are strongly encouraged to apply for ICAO positions, especially in the Professional and higher level categories.

It should be noted that this post is to be filled on a fixed-term basis for an initial period of three years (first year is probationary for an external candidate).

ICAO staff members are international civil servants subject to the authority of the Secretary General and may be assigned to any activities or offices of the Organization within the duty station.

ICAO staff members are expected to conduct themselves in a manner befitting their status as international civil servants. In this connection, ICAO has incorporated the 2013 Standards of Conduct for the International Civil Service into the ICAO Personnel Instructions.

ICAO offers an attractive benefit package to its employees in accordance with the policies of the International Civil Service Commission (ICSC).

The statutory retirement age for staff entering or re-entering service after 1 January 2014 is 65. For external applicants, only those who are expected to complete a term of appointment will normally be considered.

Remuneration:Level P-3RateNet Base Salary per annum+Post Adjustment (net) per annum(*)

USD $ 62,120 USD $ 30,687

(*) Post Adjustment is subject to change.

United Nations Considerations

In accordance with ICAO Staff Regulations, the paramount consideration in the employment of the staff is the necessity of securing the highest standards of efficiency, competence, and integrity. Due regard shall be paid to the importance of recruiting staff on as wide a geographical basis as possible and ensuring equal gender representation. Subject to the foregoing, selection of staff members shall be made without distinction as to race, sex or religion, nor shall there be any discrimination on account of any disability of a candidate who meets the qualifications required to perform the tasks. Unless otherwise permitted under the ICAO Staff Regulations, appointment and promotion of staff members shall be made on a competitive basis.

Candidates will not be considered for employment with ICAO if they have committed violations of international human rights law, violations of international humanitarian law, sexual exploitation, sexual abuse, or sexual harassment, or if there are reasonable grounds to believe that they have been involved in the commission of any of these acts.

Candidates who have committed crimes other than minor traffic offences may not be considered for employment.

Applicants are urged to follow carefully all instructions available in the online recruitment platform, Inspira. For more detailed guidance, applicants may refer to the Manual for the Applicant, which can be accessed by clicking on “Manuals” hyper-link on the upper right side of the Inspira account-holder homepage.

The evaluation of applicants will be conducted on the basis of the information submitted in the application according to the evaluation criteria of the job opening and the applicable Staff Regulations and Rules, administrative issuances and guidelines. Applicants must provide complete and accurate information pertaining to their personal profile and qualifications according to the instructions provided in Inspira to be considered for the current job opening. No amendment, addition, deletion, revision or modification shall be made to applications that have been submitted. Candidates under serious consideration for selection will be subject to reference checks to verify the information provided in the application.

Job openings advertised in Inspira will be removed at 11:59 p.m. (New York time) on the deadline date.

No Fee

ICAO does NOT charge any fees or request money from candidates at any stage of the recruitment process, nor does it concern itself with bank account details of applicants. Requests of this nature allegedly made on behalf of ICAO are fraudulent and should be disregarded.

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