Step

Delegate the Head of Office  to designate and maintain the panel of signatories for locally domiciled bank accounts.

Responsible Party

Treasurer

Template/Guideline

Explanatory Notes

UNDP staff cannot serve as signatories on the bank accounts of other UN entities or national execution (NEX)/NIM projects.

Step

Maintain a central data base of signatories to all UNDP Accounts and retain the responsibility to maintain the signatory panel for zero-balance accounts.

Responsible Party

Treasurer

Template/Guideline

Explanatory Notes

Step

Review whether or not a Transactional Signer is required for the account and inform Treasury through the established channel.

Responsible Party

Head of Office

Template/Guideline

Explanatory Notes

Signatories that operate a bank account are defined as “Transactional Signers.” Transactional Signers are only authorized to sign written payment instructions (such as cheques or transmittal letters) to the bank.

Step

Obtain written permission from Treasurer if less than two signatories will be used in the operation of UNDP bank account.

Responsible Party

Head of Office

Template/Guideline

Explanatory Notes

The operation of UNDP bank accounts requires two signatories. Exceptions to this rule require the written approval of the Treasurer.

Step

Select members of signatory panel, who shall have the following characteristics:

• Signatories must hold a UNDP FTA or TA contract
• Locally recruited staff may be signatories
• Two JPOs cannot sign jointly
• Personnel Services Agreement holders (IPSA, N-PSA), UNV contract holder and consultants cannot be signatories
• Staff of other UN Agencies cannot be signatories

Responsible Party

Head of Office

Template/Guideline

Explanatory Notes

The Head of the Office is accountable for the selection and performance of the panel member. The Head of the Office should nominate only those individuals who he/she feels demonstrate the integrity, and competency to perform the responsibilities of the role.

Step

Inform Treasury of the Head of the Office approved changes through the established channel.  Provide the full details of designated signers to the Treasurer by including the title, index number and contract status of the individual along with a legible copy of a currently valid and signed Laissez Passer or national passport.

Request the changes in the signatory panel through the usual IDAM role assignment process (once the bank signatory change processes are migrated to IDAM).

Responsible Party

Operations Manager,

Head of Finance

Template/Guideline

Explanatory Notes

Step

Review a list of staff who are authorized to sign routinely to ensure that the information is current and that there are sufficient - but not too many - signatories to ensure the smooth functioning of the office.

Responsible Party

Business Unit Head

Template/Guideline

Explanatory Notes

Signatory Panels are necessary to proper functioning of "Internal Controls" and function as one of the three authorities outlined in the Internal Control Framework.

Step

Ensure compliance with the segregation of duties for the role described in the Internal Control Framework.

Responsible Party

Head of Office

Template/Guideline

Explanatory Notes

I.e., a bank signatory must not prepare the bank reconciliation, nor create A/P vouchers or deposits; and where only one bank account signatory is authorized by the Treasurer, the signatory cannot also be a supplierapprover (i.e., cannot hold a Supplier Maintenance role in IDAM).

Step

Ensure that all disbursements from UNDP bank accounts are valid and approved payments.

Responsible Party

Head of Office

Template/Guideline

Explanatory Notes

This responsibility is executed when signatories sign checks and/or approve bank transfers.

Step

Ensure that UNDP bank accounts are used for UNDP business only.

Responsible Party

Head of Office

Template/Guideline

Explanatory Notes

​This responsibility is executed when signatories sign checks or transmittal letters and/or approve manual payment instructions.