Senior Manager, Treasury Control & Financial Risk Management

Gavi, the Vaccine Alliance is a public-private partnership committed to saving children’s lives and protecting people’s health by increasing equitable use of vaccines in lower-income countries. The Vaccine Alliance brings together implementing country and donor governments, the World Health Organisation, UNICEF, the World Bank, the vaccine industry, technical agencies, civil society, the Bill & Melinda Gates Foundation and other private sector partners. Gavi uses innovative finance mechanisms, including co-financing by recipient countries, to secure sustainable funding and adequate supply of quality vaccines. Since 2000, Gavi has contributed to the immunisation of more than one billion children and the prevention of more than 15 million future deaths. 

The Treasury team provides functional and technical leadership across cash management, liquidity, foreign exchange, and short-term Investments, delivering comprehensive treasury services while also driving strategic initiatives. They ensure effective bank, cash and liquidity management, mitigate currency risk through FX hedging strategies and manage short-term investments utilizing different instruments.

The Senior Manager, Treasury Control & Financial Risk Management reports to the Treasury Director. 

THE ROLE

The objective of this role is to oversee the Treasury Financial Risk Management function at Gavi, ensuring strict compliance with Gavi’s Treasury Risk Management policies. This position serves as the Treasury middle office, responsible for supporting end-to-end processes and implementing comprehensive control activities to effectively mitigate financial risks.

oLead compliance reviews of Treasury policies 

oOversee financial risk management oversight and reporting 

oConduct periodic compliance and control checks on all Treasury operations 

oLead on the implementation, review and maintenance of the Treasury procedure

oAssess financial risks for new projects, investments, and initiatives (e.g., financing facilities).

oPerform Treasury middle office activities 

oAct as back-up support for the back and front office functions 

MAIN DUTIES/RESPONSIBILITIES

Financial Risk Management: 

1.Risk Monitoring and Reporting:

oContinuously monitor and report on market, credit, and liquidity risk exposures (e.g. limit breaches)

oDevelop and maintain risk management dashboards and reports for senior management

oDevelop and maintain Value at Risk models, scenario analysis and stress testing as required 

2.Market Risk Management:

oConduct in-depth analysis and assess market risk exposures from the Treasury portfolio (e.g. analyse short term investment portfolio (Money market funds /fiduciary deposits/term deposits, etc)

oEvaluate market volatility and risks on FX exposures

3.Credit Risk Management:

oContinuously monitor counterparty credit risk ratings and financial health of counterparties 

oPerform credit assessments and assign internal credit ratings to counterparties as applicable

oEnsure adherence to the Treasury Procedure and  Treasury Risk Management policy as applicable 

oMonitor FX settlement risk

oNegotiate credit terms with financial institutions and brokers

4.Liquidity Risk Management:

oMonitor liquidity positions and ensure compliance with internal policies / requirements

oConduct liquidity stress tests and analyse funding gaps

oSupport the development of the current cash forecast model and suggest improvements

oAssist in developing liquidity risk management strategies and contingency funding plans

Policies and Procedures: 

oLead the maintenance and review of the Treasury procedure across all key processes 

oLead on the monitoring and development of the Risk and Control Matrix for Treasury management in close collaboration with the Financial Reporting and Accounting team 

oIn close cooperation with the Treasury operations team, develop and maintain all required policies and procedures needed to meet with Gavi’s objectives, needs, and banking requirements.

oManage requests and input for the Treasury Risk Management Committee

Operational Support:

oIn close collaboration with the Head of Treasury Operations, manage the credit card program, including issuance, monitoring, and reconciliation of corporate credit cards

oProvide middle office control activities in close collaboration with back-office , such as bank key creation in SAP, ensuring secure and accurate setup of banking data

oSupport the administration of SAP Treasury through specific roles and responsibilities to ensure segregation of duties

oProvide back-up support to Treasury operations during absences or high-volume periods (e.g. month-end closing activities)

oManage middle office month-end activities

Process Improvement:

oFind opportunities to enhance risk management practices in close collaboration with the Ethics, Risk and Compliance function

oCollaborate with IT and other departments to develop and enhance risk management systems, Treasury reporting and tools

oParticipate in cross-functional Finance projects as and when required 

Treasury Controlling and Reporting:

oLead all Treasury Financial Risk Management reporting, in particular introduction of Value at Risk 

o(VaR) models (and other risk measures) for market andcredit risks 

oSupport the work on the implementation of a Strategic Asset allocation for the short-term investment portfolio and potential other investment facilities 

oSupport the Treasury front office team on related Treasury reporting 

oReview Treasury investment management reporting and performance measurement methodologies 

oSupport the Treasury front office team on the preparation of all Audit and Finance Committee, , Investment Committee and Board papers and reports 

Compliance and Documentation:

oLead on the Know Your Customer (KYC) process reviews required for commercial banks / short-term investment funds ensuring strong due diligence and compliance 

oEnsure compliance of Treasury operations with all approved policies and procedures and expand necessary control mechanisms 

Stakeholder Collaboration:

oWork closely with the Treasury (front and back office), Risk t, Legal, IT and Resource Mobilization teams to ensure effective financial risk management

oProvide risk-related insights and support to the Treasury front office in decision-making processes

Other:

oParticipate in ad hoc projects and initiatives as directed by the Director of Treasury

Note: The essential functions listed in this section are not exhaustive of the job responsibilities; other duties may be assigned consistently with the department needs.

QUALIFICATIONS

ACADEMIC

•Advanced university degree in accounting, finance, economics or a related discipline

•Professional certifications such as from the Association of Corporate Treasurers (ACT), Chartered Financial Analyst (CFA), Financial Risk Manager (FRM) or equivalent are desirable

WORK EXPERIENCE

•A minimum of 8 years of work experience in a Treasury / Risk function of a bank or mid-large organisation dealing in multiple currencies

•Experience in a middle office function / financial risk management desk is an asset

•Experience working with SAP is an asset

SKILLS/COMPETENCIES

•In depth knowledge of financial risk management frameworks and techniques, in particular around market, liquidity and credit risks (e.g. VaR models, settlement risk, stress testing)

•Good knowledge of cash management and FX operations 

•Strong knowledge of investments, in particular short-term focused 

•Good knowledge of accounting principles for Treasury operations 

•Strong analytical skills, attention to detail is critical

•Ability to successfully interact at all organisational levels and to work in a multicultural environment

•Being goal-oriented, practical, and acting as a business partner who prioritizes customer satisfaction is essential

•Great teammate, yet equally able to work autonomously

•Ability to navigate between operational, project and conceptual tasks while maintaining focus on priorities;

•Strong communication and negotiation skills (able to communicate technical information to non-technical audience) 

•Diplomacy, tact and discretion.

LANGUAGES

•Written and spoken fluency in English

•Fluency in French is an asset 

CONTACTS

•Gavi Secretariat

•Commercial and multilateral banks, brokers and FX intermediaries

•Technology and service providers 

•Alliance Partners, including UNICEF Supply Division

If you wish to apply, please provide a cover letter and resume through our Careers webpage and apply by clicking on “Senior Manager, Treasury Control & Risk Management”. 

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In support of Gavi’s commitment to diversity, equality and inclusion, we hire globally and welcome applications regardless of age, disability, ethnicity, national origin, family status, sex, gender identity or expression, physical characteristics, race, religion, spirituality or sexual orientation. Gavi has zero tolerance towards sexual harassment, sexual exploitation and abuse as well as any form of discrimination or harassment. Everyone at Gavi is expected to conduct themselves with integrity and respect towards each other. Gavi is committed to creating a work environment that is safe and professional, therefore all selected candidates will undergo rigorous reference checks. Read more here.

Gavi brings together the public and private sectors to save lives and protect people’s health by increasing equitable and sustainable use of vaccines against 18 infectious diseases. You will work in a culturally diverse environment with over 70 nationalities. You will collaborate with partners such as WHO, UNICEF, the Bill & Melinda Gates Foundation, the World Bank – and from business, civil society and government. And you will work in the first global health organisation to receive equal gender salary certification. Your unique experience, skills and talents can help us achieve our vision of leaving no one behind without the life-saving power of vaccines.