Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges.
World Bank Group Finance and Accounting (WFA) is one of the vice presidencies in the WBG and is responsible for financial reporting and internal control framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC) and the Trust Fund/Partnership portfolio of those entities.
WFA comprises the following functions: Financial Instruments Accounting and Valuation; Loan and Trust Fund Operations; Accounting Business Services; Financial Reporting; Accounting Policy; Documentation and Communication; Advisory Services; and Operational Risks and Controls. These units collectively include approximately 450 staff, of which 100 are in Washington, D.C. with the remainder in regional offices including the largest in Chennai, India.
The Financial Controls Department (WFAFC) is responsible for the fair recording and reporting of the World Bank Group’s administrative expenses and fixed assets This includes delivering core accounting services and support, providing guidance to WBG business units on the development and maintenance of an effective system of internal controls, and providing strategic leadership on complex business issues pertaining to administrative expenses. The department is also responsible for payroll accounting for the World Bank Group. Additionally, the department is also responsible for oversight over Valuation and Analytics of Financial Instrtments in the World Bank’s portfolios
The Country office Accounting team (WFACN) is located in Chennai, India, and functionally reports to the WFA Finance and Accounting, Chennai Division (WFACO). The Country Office Accounting team, provides guidance to country offices (COs) with regard to accounting policies & procedures and oversees the accounting controls at COs by undertaking various control review procedures, like the Monthly Submission Reports. The team contributes to the overall improvement of the control environment at the country offices through continuous knowledge sharing and training of the country office accountants. Additionally, the team is responsible for the maintenance of banking information in the vendor master records.
Duties and Accountabilities:
The duties and responsibilities of the role includes, but is not limited to the following-
- Establish and maintain accounting practices to ensure accurate and reliable data necessary for business operations. Conduct periodic reviews to verify accuracy of records, compliance with Bank's policies and procedures.
- Provide day-to-day support and technical advice to country office accountants on accounting matters and the related SAP processes. Participate in implementing and delivery of an effective system for control assessment of processes at country offices using Monthly Submission Reports etc.
- Review, analyze, and compile report on imprest accounts for financial reporting purposes. Coordinate schedules, activities and reports with other departments.
- Review cash replenishment requirements from country offices, perform due diligence in review of write-off requests from country offices and provide guidance for transfer of Imprest funds into and out of bank's designated depository accounts.
- Provide inputs and actively participate to support management's initiatives to improve the process quality & process related controls.
- Contribute in preparation of the accounting procedures documentation in the Country Office guidelines and on-going updates. Prepare monthly bulletins to country offices.
- Participate in imparting training to country office accountants on Imprest administration procedures, bank's policies and procedures, SAP accounting, including resolution of specific issues.
- Prepare accounting and control procedures documentation for implementation in the country offices.
- Identify, participate in the design of business requirements, user testing and implementation of any new systems, applications, tools and reports for the team, to enhance efficiency, effectiveness and standardization.
- Provide a variety of metrics / charts to be included in overall departmental operations report to measure progress of operations for the team vis-a-vis agreed norms for management information and action;
- Coach and mentor junior team members.
Candidates should have the following qualifications and experience:
- Chartered Accountant or Certified Public Accountant. Minimum 3 years of post qualification experience in similar or complementary roles in financial institutions and/or public accounting firms required;
- Proficiency in Microsoft Windows applications, namely Excel, Word and Power Point, including advanced spreadsheet design, manipulation, and analysis skills. Ability to quickly develop effective understandings of logical accounting data structures and data inter-relationships to effectively evaluate and make recommendations on process/system controls.
- In-depth, detailed understanding of accounting systems, preferably SAP FI modules and their control features and configuration capabilities/implementation at the Bank.
- Knowledge of a variety of modern procurement practices and emerging electronic commerce solutions; excellent knowledge of Bank administrative policies.
- A proven track record of problem solving skills in an automated accounting environment; experience with SAP enterprise resource planning system R3 is desirable, but not required.
- Excellent judgment, very good written and oral communications skills (including the ability to write clear, concise and complete procedure); ability to carry out a multi-dimensional, multi-functional work program.
- Ability to deal sensitively in multi-cultural environments and build effective working relations with clients and colleagues.
- Exhibit a personality that enables the incumbent to be client focused, flexible and an excellent team player. Ability to effectively work with other staff in the department and elsewhere in the Bank.
- Deliver Results for Clients - Contributes to delivery of results for client on complex issues. Sets challenging goals that align with the WBG mission and is always looking to improve. Understands clients’ most pressing challenges and contributes to solutions. Takes personal responsibility for producing high quality work, identifying and informing of risks, and delivering results for clients.
- Collaborate Within Teams and Across Boundaries - Collaborates within team and across boundaries. Keeps others fully informed to ensure integration and work consistency. Approaches conflicts as common problems to be solved. Seeks and listens to input from others to inform own decision making and openly shares information. Frames thinking/actions with a WBG corporate perspective in mind.
- Lead and Innovate - Brings new and different insights. Applies critical thinking to current approaches, identifies areas for improvement, and tries new solutions that drive results. Considers own behavior in context of WBG's values and mission and recognizes impact one has on others. Operates in ambiguity and changing needs and supports others to do the same
- Create, Apply, and Share Knowledge - Actively contributes to and readily applies WBG’s body of knowledge for client solutions. Contributes to the departments and WBG's body of knowledge by applying lessons learned and expertise. Actively invests in own knowledge and seeks feedback. Builds personal and professional networks within and beyond the work group
- Make Smart Decisions - Leverages available data and makes timely decisions. Seeks and analyzes facts, data and lessons of past experience to support sound, logical decisions regarding own and others’ work. Applies cost/benefit analysis to meet work program objectives. Contributes to decision making by providing relevant risk-analysis. Shows initiative when necessary and makes decisions in a timely manner within own area of responsibility.
- Client Understanding and Advising - Looks at issues from the client’s perspective and takes action beyond normal expectations to ensure client satisfaction. Analyzes situations and determines alternative or creative scenarios and approaches to add value to the business in new and different ways. Works within the team and with other specialty areas to define client needs and develop the best approach to meet client needs. Sees how ideas and best practices from other specialties can be adapted or applied to address client issues.
- Broad Business Thinking - Maintains an in-depth understanding of the long-term implications of decisions both for department and the client’s business. Ensures that decisions are supported by relevant stakeholders as well as sound performance data. Effectively communicates recommended changes to clients and how they will affect their business using the client’s own terminology with limited jargon while attempting to minimize day-to-day disruption of operations
- Project Management - Develops and implements realistic and achievable work plans for group or project team – including tasks, priorities, resources and schedules. Establishes priorities, identifies critical tasks, and pushes projects forward in a timely fashion. Establishes controls to detect problems early and notify those involved if deadlines are affected. Creates opportunities and solutions that address more difficult or abstract situations. Creates and adapts solutions to address unusual data or novel situations
- Analytical Thinking - Determines criteria for assessing issues and opportunities. Establishes clear goals and priorities needed to assess performance. Identifies relationships and linkages between different information sources. Anticipates issues that are not readily apparent on the surface. Identifies root causes and effects. Establishes clear goals and priorities. Anticipates potential problems and develops solutions needed to resolve them. Systemically analyzes relationships between apparently independent problems and issues. Reviews and cross-reviews reports. Identifies trends as well as isolated events. Translates analytical reports into management presentations and provides guidance to resolve issues. Anticipates the possible outcome of potential solutions. Identifies areas of significant concern or opportunity. Probes and initiates research to identify critical problems
- Policies and Procedures - Seek out opportunities to further understanding of relevant policies and guidance. Identify areas for improvements in existing policies and procedures. Emulate best practices in completing own work program. Provides guidance to junior staff and plays a role in transferring skills and knowledge to others.
- Risks and Controls - Demonstrate understanding of key risks and internal control procedures in the related processes. Able to identify key risks and mitigating control steps in own functional areas. Perform internal control procedures in compliance with the overall risk and control framework. Takes proactive measures to know the internal control procedures (e.g., talks with business leaders about their goals and priorities).
- IT and Systems - Leverage information technology systems and applications to improve productivity and efficiency. Provide inputs to IT system enhancement efforts based on day to day working experience and knowledge of the systems
- Communication - Utilize appropriate tools and techniques to explain technical information in plain language. Present information in a logical and organized manner both in speech and in writing. Writes effective correspondence, prepares questions and reports, statements of circumstance and briefing notes
- If the selected candidate is a current World Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 years term appointment.
Poverty has no borders, neither does excellence. We succeed because of our differences and we continuously search for qualified individuals with diverse backgrounds from around the globe.