Thinking of a Career in Emergency Management?
- BY Nicole Pelette
Do you want to build a career that is truly worthwhile? The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities where they are needed most.
The IFC Controllers Department is responsible for effectively and efficiently managing IFC’s Financial Operations (loan, equity and short-term finance operations, and back-office treasury support operations), Financial Reporting (including portfolio review, investment accounting and accounting policy), Internal Controls, and Financial Systems, Integration and Projects. The Department comprises approximately 125 diverse and highly skilled staff, based in Washington DC, and Chennai.
The Financial Integration, Systems & Projects (CNTFS) unit within IFC Controllers Department (CNT) focuses on the integration of relevant data from IFC’s key accounting and transaction systems into timely and accurate management reporting that supports decision making in line with IFC’s strategic priorities. One of the primary responsibilities of the unit is the business ownership of IFC’s investment profitability system, FSRS (Financial Sustainability Reporting System), a management reporting tool with close to 300 users within IFC, which brings together and dis-aggregates financial data from IFC Controllers systems to provide investment P&L statements down to investment project-level. In addition to maintaining FSRS and providing investment portfolio analytics for portfolio reviews, KPI scorecards and other corporate reports, the team is involved in most Corporate and / or Controllers projects and initiatives that seek to enhance IFC’s ability to capture relevant information and integrate data from different streams into transaction, accounting and operations systems and ultimately to management reporting. Such initiatives include US GAAP accounting standard updates; the ACBS upgrade effort; and the streamlining and enhancing of existing systems such as IPAR, ODS and FSRS, where CNTFS is involved in all aspects of project management, from business requirement coordination and gathering, to close collaboration with IT teams and consultants through all steps of the projects including testing and implementation. The team responsible for CNTFS’ work program is co-located in Washington DC (HQ) and WBG’s Chennai Office. Team members located in WBG’s Chennai office, under the unit WFAFS, provide support and interact with IFC colleagues based in Washington DC (HQ) on a day–to–day basis.
This position reports functionally to the Head of the CNTFS team. The successful candidate will be responsible for various aspects of CNTFS' work program: providing management and financial accounting support for IFC accounting and reporting systems, actively participating in project management of various CNT initiatives, designing data mining and analytical tools, training CNTFS staff on technical accounting aspects of IFC products, providing input into technology/automation development. The successful candidate is expected to have deep accounting knowledge of loan/equity/guarantee investments as well as strong affinity for accounting system design and IT project management.
Duties & Responsibilities:
The successful candidate will be a Financial/Accounting professional with broad and deep technical expertise related to the Controller’s operations and activities. His / her responsibilities will include:
Designing and maintaining accounting and reporting schemas for various systems supported by CNTFS.Reviewing, updating, and maintaining closing procedures for various systems supported by CNTFS.Advising IFC staff on management reporting concepts produced by the systems supported by CNTFS and their linkage to US GAAP reporting.Proactively interacting with CNT staff to ensure accurate and timely reporting of relevant IFC’s transactions in FSRS.Ensuring that reporting for new financial products is introduced on a timely basis into the systems supported by CNTFS.Translating new initiatives or financial products into new reporting concepts and/or IT system requirements. This includes documenting approaches and processes, drafting Business Requirements Documents, test plan and end-to-end testing of systems.Providing management reporting input into the design of various accounting and reporting systems, data mining, and analytical tools supported by CNT.Acquiring and maintaining deep understanding of how technical accounting conclusions by the Investment Accounting unit (CNTIA) are reflected in IFC accounting systems, related accounting schemas and reporting in financial statements.Training CNTFS staff on technical accounting aspects of IFC products.Acquiring and maintaining deep understanding of data points, data structure, data maintenance and quality related to IFC financial instruments.Supporting the analysis of loan and equity data to management and other units in the IFC.Undertaking ad-hoc projects and special assignments as needed.
Undergraduate degree(s) in Accounting, Finance or a related field. Master’s degree or equivalent is advantageous. CPA, CA or equivalent certification required. CFA a plus.At least 5 years of relevant experience in accounting with an emphasis on international loans and equity transactions, or equivalent combination of education and experience. Private sector and/or IFC experience a plus.In-depth understanding of Generally Accepted Accounting Principles (GAAP)Excellent understanding of accounting concepts and strong knowledge of IFC’s Financial Products.Working knowledge of one or more complex, highly integrated accounting systems, and financial reporting tools;Experience performing reconciliations and analysis, proficient in working with large data volumes and diligent in documenting workflows.Understand accounting information flows across multiple systems (Corporate centralized database, accounting subsystems and general ledger, MIS etc) with experience and knowledge of IFC/World Bank Group accounting systems.Competent in office technology tools with advanced Excel and Excel VBA skills.Ability to produce quality work with a high degree of accuracy, handle changes in priorities and coordinate work on multiple tasks.Demonstrated high level of initiative, self-confidence and a self-starter.Diplomacy and strong interpersonal skills; commitment to work in a team-oriented, multi-cultural environment; detail oriented.Proven capacity to multi-task, deliver results and respond quickly and effectively to requests. Ability and desire to meet tight deadlinesExcellent writing and editing skills in English, with an ability to convey complex ideas clearly and succinctly.
WBG Core Competencies
Deliver Results for Clients - Achieves results and identifies mission-driven solutions.Collaborate Within Teams and Across Boundaries - Initiates collaboration across boundaries and broadly across WBG and brings differing ideas into the forefront.Lead and Innovate - Develops innovative solutions with others.Create, Apply and Share Knowledge - Creates, applies and shares knowledge from across WBG to strengthen internal and/or external client solutions. Make Smart Decisions - Recommends and takes decisive action.
Controllers Department Competencies
Client Understanding and Advising: Advises the clients and helps them think proactively about how to best meet their current and future needs, taking into considerations the real underlying issues. Works across CNT and with other VPUs to define client needs and develop the right solutions to meet those needs. PLUS: Provides recommendations to multiple VPUs that can add value to customers beyond normal offerings.Broad Business Thinking: Maintains an in-depth understanding of key business issues. Sets clear explanations for the integration and alignment of CNT solutions with business functions. PLUS: consider WBG wide implications in decision making to ensure consistency across WBG. Sponsors long-term VPU-wide initiatives.Information Technology and Systems: Demonstrates understanding of the functions and operations of pertinent IT systems and applications. Provides inputs to IT system enhancement efforts based on day to day working experience and knowledge of the systems.Analytical Thinking: Coordinates the information gathering and reporting process. Reviews trends and compares to expectations. Conducts analysis to define problems and prepares responses to anticipated questions.Policies and Procedures: Demonstrates thorough knowledge of policies and procedures in related fields.Risks and Controls: Leads by example and serves as best practice champions in completing internal control procedures, including understanding impact beyond own immediate functional areas.Communication: Adapts the communication style appropriate for the intended audience. Adopts an inclusive approach to communication as is appropriate to the situation, so as to ensure adequate stakeholder participation. Presents information effectively and encourage feedback.Project Management: Understands and utilizes the concepts of project management, as they relate to the implementation of a project.