"Please note this requisition has 2 positions"
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.
The World Bank Group Finance & Accounting (WFA) Vice Presidential Unit is responsible for all aspects of the corporate reporting and internal control framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA) and the extensive Trust Fund/Partnership portfolio of these entities. WFA also leads the client shared service function for the WBG corporate expenses and WBG trust funds, ensures fiduciary responsibility for all disbursements related to Bank operations.
Located within the WBG Corporate Accounting & Reporting Department, the Structured Finance Division (WFASF) is responsible for product control functions related to financial instruments, including borrowings and investments, as utilized by IBRD, IDA, MIGA and Trust Funds for their operations, except for pension funds. These include financial instrument product aligned accounting, set-up of financial models and valuation review, market data sourcing and verification, implementing accounting policies around financial instruments, independent price verification for investments, fair value of loans, accuracy of accounting ledgers, financial instrument related data management and reviewing accuracy of financial statements regarding these financial instruments. In addition, WFASF team is involved in a host of critical institutional projects and initiatives that seek to enhance WB’s ability to capture and integrate data from different sources into, accounting, valuation and reporting systems and ultimately enable analysis that serve financial and / or management reporting needs.
The current position is that of a Financial Analyst in Chennai (WFASC), which is an extension of the WFASF team in Washington DC (HQ).
Duties and Accountabilities:
The Financial Analyst will work as part of a team of professionals to meet the unit’s responsibilities as they relate to the accounting and pricing / valuation of financial instruments and implementation of various institutional projects. Responsibilities will include the following:
- Ensure the accuracy and appropriateness of accounting entries and perform daily / weekly / monthly control activities for the borrowings / liquid investments portfolios
- Identify, investigate and resolve system-to-system reconciliation and accounting flow breaks
- Monitor and analyze accounting results as they relate to the borrowings / investments portfolios to ensure they are consistent with expectations and business objectives or deviations (if any) are justified and adequately documented. This would include the establishment of exception and monitoring reports and review and investigation of the same.
- Verify trade set-up and trade modifications
- Preparation and quality assurance of calculated market data, evaluation of data sources, and verification of the data reliability
- Develop expectations, perform analysis, prepare and present sign-off commentaries, suggest and implement solutions in a pro-active manner
- Prepare various financial and management reports, as required by the department or other stakeholders
- Support efforts to implement institutional projects and business initiatives
- Contribute to analysis and implementation (process and system changes) of new initiatives, projects or financial products. This would include performing requirement (business specifications) gathering and documentation, design review and analysis, user acceptance testing, implementation and maintenance of systems supporting various portfolios.
- Participate in project team meetings and providing timely and accurate updates on progress of work and issues encountered, if any
- Collaborate with business and information technology teams across locations to address system issues and implement solutions promptly
- Proactively interact with World Bank Treasury (TRE) front office business units to stay abreast of new/proposed activities that may have accounting or reporting implications
- Provide services to clients within and outside the Bank by providing financial information, training programs and related materials
- Coordinate with / support external and internal auditors, when required
- Exercise fiduciary responsibility by reviewing policies and procedures and ensuring they are correctly followed
- Stay abreast of accounting pronouncements and industry best practices as they relate to accounting / pricing of financial instruments.
- Continually look for opportunities to improve processes and internal controls. Be responsible for promoting controls and ensuring compliance in WFA.
- Maintain and develop processes, procedures, documentation and internal controls around portfolios handled, with the objective of increasing efficiency and accuracy
- Bachelor’s degree(s) in Accounting, Finance, and/or Economics and a minimum of 3 years’ relevant experience or equivalent combination of education and experience.
- CA/CPA/ACCA and/or FRM/CFA. Master’s degree(s) in Accounting, Finance, and/or Economics may be considered in lieu of CPA/CA/ACCA and/or FRM/CFA.
- Professional experience with major financial institutions with practical knowledge of product control functions (such as accounting and valuation) related to financial instruments
Core Technical Knowledge:
- Good knowledge of treasury products / financial instruments (i.e. capital and money market instruments - particularly fixed income instruments)
- Hands-on experience of accounting, financial analysis and reporting in an integrated financial systems environment
- Working knowledge of Summit / Murex treasury system, integrated financial systems such as SAP, SAP BI/BO reporting tools, Bloomberg/Reuters would be a distinct advantage
- Good understanding of market data requirements for capital / investment market transactions
- Experience in performing control reviews, reconciliations and analysis.
- Experience in supporting implementation of system applications / tools – preparing specifications, design analysis, testing, etc.
- Proven quantitative and qualitative analytical skills, including excellent spreadsheet skills. Familiarity with financial modeling techniques and writing macros will be a plus
- High level of initiative, self-confidence and a self-starter; proven problem-solving skills, ability to deliver high quality results and operates with minimum supervision
- Strong interpersonal skills; commitment to work in a team-oriented, multi-cultural environment; detail oriented
- Proven capacity to deliver results and respond quickly and effectively to requests. Ability and desire to meet tight deadlines
- Flexibility to perform a variety of tasks and expand the scope of work and responsibilities; committed to achieving individual and team results
- Excellent verbal and written communication and presentation skills
- Highest ethical standards
- Deliver results for clients – Takes full ownership to address client needs. Demonstrates initiative, independence and autonomy in addressing client needs in changing business contexts and environments. Allocates and prioritizes resources according to areas of most urgent need and greatest impact for the client.
- Collaborate within teams and across boundaries – Adopts a collaborative approach to improve overall effectiveness outside the unit as well and displays an open helpful attitude toward others. Approaches conflicts as common problems to be solved. Demonstrates understanding of and acts to incorporate multiple perspectives. Frames thinking/actions with a WBG corporate perspective in mind.
- Lead and innovate – Initiates changes to work processes to improve efficiency and performance. Applies creativity, flexibility and persistence to develop new approaches. Considers own behavior in context of WBG's values and mission and recognizes impact on others. Frames problems and recommends solutions.
- Create, Apply and Share Knowledge – Actively promotes knowledge-sharing. Takes ownership for organization of knowledge-sharing and learning activities. Contributes to the knowledge of the work group and beyond. Uses feedback to develop self and mentor others. Builds personal and professional networks within and beyond the work group.
- Make Smart Decisions – Analyzes data to support and enable decision-making. Anticipates, researches, reviews, and analyzes available data and relevant empirical evidence, including lessons learned. Understands risk and can provide basic assessment using cost-benefit analysis. Uses critical thinking and good judgment to make decisions. Supports decisions, takes action and ensures appropriate follow-up actions are taken.
- Broad Business Thinking – Maintains an in-depth understanding of the long term implications of decisions both for the team and 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 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 – Coordinates the information gathering and reporting process. Reviews trends and compares to expectations. Conducts research to define problems and prepares responses to anticipated questions. Prioritizes multiple issues and opportunities. Identifies relationships and linkages within several information sources. Anticipates issues that are not readily apparent on the surface. Identifies root causes and effects. Reports and identifies areas that need guidance in order to resolve complex issues. Anticipates the possible outcome of potential solutions.
- 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).
- Information Technology 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.
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.