2024 Internship Report - Shiyun ZHENG

Name: Shiyun ZHENG

Degree: Mater of Global Management,

University: The University of Hong Kong

Position: Finance, UNDP

Duration: 02/2024 - 09/2024 (7 months)

Sponsorship: Rongfang ZHANG

Assignment:

1. Responsible for weekly extraction of bank transaction records, ensuring precise reconciliation, and collaborating with the Global Service Shared Center (GSSC) team to maintain consistency in financial records. Monitored the payment process, promptly recover information for failed payments, and reinitiate in the system to ensure seamless transaction completion.

2. Compiled and updated weekly cost recovery reports, tracked projects with delayed recoveries, and alerted relevant personnel for follow-up.

3. Conducted budget reviews for project funding requests based on project proposals and quarterly financial budgets, ensuring adherence to financial standards and guidelines. Prepared review forms for necessary approvals and managed payment processes for approved requests, including direct House to House payments and preparation of checks and requisition forms.

4. Recorded and processed payments for travel, advances, and prepayment liquidations on the Quantum, uploading corresponding supporting documents. Created accounting structures in Quantum based on project deliverables outlined in two-year project plans.

5. Participated in the 'Regional Procurement Initiative' project, authored clean energy reports, and developed and maintained the project website via SharePoint. Communicated with suppliers to foster long-term partnerships and updated project progress in real-time.

6. Managed tax rebate processes for two fiscal quarters, including itemized declarations in the rebate system and organization of required documents for submission to the Ministry of Foreign Affairs.

7. Performed various ad hoc financial tasks, including exporting budget-related documents and project proposals, integrating and updating information for audit preparation; updating paid disbursements in the UMOJA system based on account reports; calculating lease costs for other agencies like UNDPPA, apportioning UNDSS office costs; and adjusting audit fees.

   
   

Since the first week, I had been engaged in the preparation of audit work. My supervisor Rongfang provided me with several relevant documents, such as Standard of Procedures about vouchers and financial management. I helped conduct a preliminary review of our invoices to check the adequacy of supporting documentation. It was a perfect blend of theory and practice. While studying the documents felt akin to my high school days spent poring over textbooks, the hands-on review of invoices, memos, and authorization forms provided a refreshing departure from monotony. It allowed me to quickly grasp an introductory perspective on the agency's operations and the operational team's role in supporting the execution of projects led by the front-line teams. What an exhilarating start to my immersion in the work that lay ahead.

I approached my supervisor whether I could be involved in a project, a chance I could get a stronger sense of me contributing to the world, beyond the confines of my screen. She was impressed by my proactivity and soon got me integrated in the new project known as Regional Procurement Initiative. Alongside three other fellows, I was tasked with drafting five reports on the latest advancements in clean energy and its various application scenarios. Our goal was to inform procurement teams in Southeast Asia and the Pacific regions, equipping them with knowledge to facilitate informed decision-making. Using this knowledge, I liaised with existing suppliers to gauge their interest in ongoing cooperation for the provision of clean energy products. This duty, somehow, challenged me, because I have not been fond of cold calls even as an extrovert. Some replies were polite, but mostly were distrusting and impatient, which made the task difficult. Additionally, I took charge of constructing our SharePoint website, a central repository for the information we gathered and a tool for tracking the team's progress.

June was a busy month for me. On the one hand, it was the end of the second quarter of this year when dozens of forms of liquidation and advance application were submitted and needed for approval. I had to ensure all the amounts in the forms adhered to the financial standards and the checklists. I discussed with my colleagues and each time I got more insights into the work I did, gradually mastering this job. It was a significant milestone! On the other hand, I continued to follow up with the Procurement projects and update the website to serve our evolving needs. The entire team was making the trials to accomplish the project and once a new idea came up, we would heatedly evaluate and implemented it quickly. I welcomed busy hours, which made me feel fruitful and me doing something that could be seen and valued.

My colleagues were immensely supportive, recognizing my fervent desire to engage with as much work as possible. They explained the principles, reasons for specific decisions and offered detailed instructions. It was so patient of them that they would answer me more than I inquired, that they kindly shared additional perspectives on the related topics and that they welcomed me to shadow their work to learn from their expertise.

The operational team at the office, handling routine documents, is crucial for supporting the smooth functioning of the entire agency. It was when our manager shared the broader impact of our procurement project that I felt an intense connection to our societal contribution. She elaborated on how even the most mundane product introduced by UNDP into a country could significantly affect the lives of its citizens. For instance, the esteemed English textbooks that our parents read, which were renowned and impressive, in fact, were introduced by UNDP in the last century, a fact that was quite both impressive and deeply rooted in our collective history. A similar emotional resonance emerged during the Brownbag Sharing session led by Lengfei on the trendy topic of biodiversity. With vivid illustrations, she delineated the proactive initiatives UNDP has undertaken to address China's biodiversity challenges, thereby broadening my analytical perspective, and reinforcing the importance of a robust logical framework in dissecting complex issues.

Moreover, a significant lesson in the spirit of contractual commitment was etched into my professional consciousness. Having pledged an eight-month commitment to my sponsors through the PDF program, the reality of a one-month shortfall fell short of expectations, causing inconvenience and stirring feelings of remorse. Despite my embarrassment, I am grateful for the candid feedback from mentors from all

sides including PDF, HKU, and UNDP. Their constructive criticism illuminated my shortcomings and steered me clear of repeating such errors.

My journey was graced by encounters with numerous exceptional individuals, whose brilliance was matched only by their willingness to extend a helping hand. United by a shared fervor to contribute to a better world and an unwavering commitment to their roles, these like-minded peers have become the treasured companions of my voyage. This experience has been a tapestry of growth, introspection, and camaraderie. Each interaction has been a thread woven into the rich fabric of my professional development, and I carry forward the lessons and friendships forged in this unique fellowship.