* Work with internal and external auditors as necessary. Partnerships * Work with relevant program staff to ensure all implementing partners undergo legal vetting and a capacity assessment prior to commencing work with Save the Children, are engaged with appropriate agreements and effective monitoring systems are in place so that partner delivery meets donor expectations and requirements. * Work with program staff to ensure relevant donor requirements are effectively communicated and understood by implementing partners. Capacity Building * Support the award management team to strengthen the knowledge and capacity of staff across all functions to manage awards and comply with donor requirements as relevant to their role by providing, induction, training and coaching consistent with their various roles and responsibilities. Financial Accountability: * Provide a high standard of financial accounting in emergency programmes, ensuring to Save the Children accounting policies and to local statutory law where ever possible.
The 5 year iTraxx European Main index and 5 year iTraxx European Crossover Index (series 19) spreads went respectively, from 103 and 422 bps at the end of May 2013 to 119 and 477 bps at the end of June 2013. During the same period, credit spreads in the US, as illustrated by the 5y CDX main index (series 20) widened from 79 to 87 bps. According to the CSFB Leverage Loan Index, the average price for USA liquid first lien loans decreased from 98.45% at the end of May 2013 to 97.60% at the end of June 2013. It was almost similar in Europe: the price of the S&P European Leveraged Loan Index went from 92.98% to 92.21% at the end of June 2013.** VOLTA FINANCE PORTFOLIO In June 2013, no particular event materially affected the situation of the Synthetic Corporate Credit deals. However, the first loss positions in this bucket (ARIA III and the residual positions in JAZZ III) remain highly sensitive to any new credit event.