Treasury officer (middle office) (p)

IOM invites candidates from diverse backgrounds to apply and provides reasonable accommodation throughout the recruitment process when required. IOM has a zero-tolerance policy on conduct that is incompatible with the aims and objectives of the United Nations and IOM, including sexual exploitation and abuse, harassment, sexual harassment, abuse of authority and any forms of discrimination. IOM is committed to promote the protection and safeguarding of all children.
Context
Under the direct supervision of the Senior Treasury Officer, the Treasury Officer (Middle Office) will oversee the Middle Office (MO) function within the Treasury Division. The MO serves as the control and oversight layer between the Front Office (deal execution) and the Back Office (settlement and accounting), ensuring that financial risks are systematically identified, monitored, and reported.
The Treasury Officer (Middle Office) ensures that Treasury policies, internal controls, and risk management best practices are correctly applied across Country Offices and Headquarters (HQ). They provide guidance and technical guidance to Country Offices on know your customer (KYC) processes with banking counterparties and coordinates contract review and approval with the Department of Legal Affairs (LEG).
The Treasury Officer (Middle Office) works in close collaboration with the Risk Management team, Treasury Back Office, Treasury Project Team, and the Senior Treasury Officer.
Risk Management & Monitoring

Monitor counterparty (credit) risk for HQ and Country Office bank accounts.
Control of Global IOM Internal bank accounts in coordination with the Treasury (TSY) Technical team.
Conduct the annual calculation of Expected Loss (ECL) for inclusion in the financial report.
Procure, maintain, and administer credit risk assessment tools and systems.
Monitor operational risks within Treasury processes and flag deviations from established thresholds.
Generate and analyse risk reports to identify potential exposures and inform senior management.
Ensure front office activities remain within approved risk limits and elevate breaches as necessary.
Maintain and regularly update the Treasury Risk Register.
Develop and track key risk indicators (KRIs) to support proactive risk oversight.
Conduct periodic stress testing and scenario analysis on Treasury exposures.

Bank Relationship Management

Assess and monitor bank service charges for Core Banks; recommend cost‑optimization measures where appropriate.
Manage the Master Banking Agreements (MBA) for Core Banks.
Control and maintain bank signatory lists for Core Banks (HQ and Country Offices) in coordination with the TSY Technical team for centrally managed banking platforms.
Ensure appropriate segregation of duties (SoD) across all Treasury processes at HQ.
Lead the Know Your Customer (KYC) process for HQ banking and investment counterparties and provide guidance to Country Offices on KYC requirements.
Maintain a structured database of banking contacts and relationship records to support continuity and governance.
Manage the corporate credit card program for Headquarters, including provider coordination, controls, Key Performance Indicators (KPIs) and policy compliance.
Review the competitiveness of foreign exchange (FX) providers and recommend KPIs, improvements to pricing, service quality, and operational efficiency in collaboration with the Treasury Officer.

Compliance & Regulatory Reporting

Ensure adherence to applicable financial regulations and internal Treasury policies.
Monitor sanctions compliance and Office of Foreign Assets Control (OFAC) licence requirements; maintain records of applicable licences.
Coordinate within the Treasury team for timely updates to instruction IN209 and revisions to the Financial Management and Reporting Policy (FMRP) as required.
Act as Treasury focal point for regulatory bodies, internal auditors, and external auditors; compile and provide required data, reports, and documentation.
Monitor regulatory developments relevant to Treasury operations and flag changes that may impact policies or procedures.

Internal Controls & Performance

Develop, implement, and maintain a robust framework of Treasury internal controls consistent with IOM financial rules and instructions.
Ensure compliance with internal policies and identify control gaps; recommend remediation measures.
Review and update Treasury procedure manuals and process flowcharts to reflect workflow changes.
Establish and monitor Treasury key performance indicators (KPIs), including counterparty exposure utilisation, and bank charge efficiency.
Prepare periodic MO performance dashboards for review by the Senior Treasury Officer.
Support internal and external audit processes by providing documentation, reconciliations, and explanations as required.

Legal & Contractual Affairs

Serve as the first point of contact within the Treasury team for all banking relationship contracts and legal documentation.
Liaise with the Department of Legal Affairs (LEG) on various Treasury‑related legal matters.
In conjunction with LEG, review, negotiate, and maintain legal agreements with banks on behalf of the Treasury team.
Ensure timely renewal and archiving of all contractual documents related to banking and investment counterparties.

Capacity Building & Country Office Support

Provide technical guidance and training to Country Office finance staff on Treasury risk management standards, KYC procedures, and bank account governance.
Contribute to the development of Treasury training materials and knowledge‑sharing tools.
Support Country Offices in the resolution of banking‑related issues and escalation of complex matters to HQ.

Other

Perform such other duties as may be assigned.

Education

Master’s degree in Finance, Economics, Business Administration, or a related field from an accredited academic institution with five years of relevant professional experience; or
Bachelor’s degree in the above fields with seven years of relevant professional experience.
Association of Corporate Treasurers (ACT) qualification (Fundamentals or Advanced) or equivalent recognised treasury certification (e.g., Certified Treasury Professional – CTP, CFA).

Experience

Experience with Treasury Management Systems (TMS).
Experience within the United Nations system or other international/multilateral organisations.
Demonstrated experience in financial risk management in an international Treasury or financial institution context.
Experience in producing and interpreting financial and risk reports for senior management.
Experience in KYC processes and bank relationship governance.

Skills

Familiarity with treasury legal documentation (e.g., ISDA, GMRA, account agreements).
Knowledge of foreign exchange (FX) exposure methodology and FX product markets.
Knowledge of investment products and markets.
Proven experience of corporate credit card management.
Proven track record in Middle Office functions, including risk monitoring, internal controls, and regulatory compliance.
Knowledge of Oracle Cloud ERP.
Familiarity with International Public Sector Accounting (IPSAS)‑based financial reporting.
Ability to synthesize complex financial data into clear, actionable risk insights for senior management and non‑specialist stakeholders.
Attention to detail skills, with a high degree of accuracy in reviewing legal agreements, bank signatories, regulatory reports, and control documentation.

Languages
All staff members are required to be fluent in one of the three official languages: English, French, or Spanish. For this position, fluency in English is required (oral and written). Working knowledge of French or Spanish is an advantage.
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