Senior Financial Assistant

World Bank, India

Skill Required:, Finance and Accounts
Preferred Experience: 
2 years of relevant work experience
Closing Date for Applications: 
29th November, 2019


Job Description

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. For more information, visit www.worldbank.org

WFA comprises the following functions: Financial Instruments Accounting and Valuation; Loan Operations; Accounting Business Services; Financial Analysis and Reporting; Accounting Policy; Documentation and Communication; Advisory Services; and Operational Risks and Controls. These units collectively include approximately 500 staff, of which approximately 170 are in Washington, D.C., with the remainder in regional offices including the largest in Chennai, India.

Unit Overview

The Trust Funds and Loans Operations Department (WFATL) manages loan and trust fund operations and was recently reorganized to better serve client needs, accommodate for new Bank priorities, and achieve further efficiencies and consistency in service delivery.

Consequent to the reorganization, WFATL consists of two divisions, each headed by a manager. The first division, WFACS, is devoted to providing “front-end” client services and related operations to business and external clients and is organized along business lines serving the regions and global practices. The Services within the area of WFATL responsibilities fall under three categories: regional coordination, country focal point assistance, and project-level fiduciary and portfolio management. The second division, WFAAS, is focused on supporting both the World Bank Group’s Trust Fund and Loan portfolios, for example, providing advice on the design and implementation of new trust funds, policies, or processes, as well as many activities associated with the implementation and closure of loans or trust funds, including account creation and maintenance, disbursement transactions, trust funds and loans accounting and reporting and helpdesk functions. These two divisions work closely and collaboratively with one another, and with other Bank units.

Division overview

WFAAS division is split into (a) Advisory teams, based out of Washington DC, and (b) Operational support teams, based out of Chennai. The Operational support team in Chennai, is split into three sub-teams viz., (i) Settlements and Clearances, (ii) Centralized Accounting, and (iii) Reporting. Together, the Division provides end-to-end support for IBRD/IDA Loans and WBG Trust Funds, in terms of, Providing upstream advice to Bank teams and TF donors to influence the design of new TF and FIF agreements to ensure: compliance with fiduciary, reporting, internal control requirements and best practices Support, help design, and ultimately implement and account for new and emerging loan products, in addition to the existing loans portfolio Ensure the accuracy and integrity of the Trust Fund and Loan modules, financial ledgers and related interfaces, which capture all TF and Loan activities Report on Trust Fund and Loan accounts at the individual account and portfolio level through, audited/un-audited financial statements, management reports, analyses and trends for corporate reporting, donor specific reports, etc.

Maintain/enhance/develop underlying systems, tools and applications to cater to the changing business needs

This is an advertisement for a Sr Financial Assistant, in the Settlements and Clearances Team forming part of the Operational Support in Chennai. This position reports to the Settlements and Clearances Team Lead.

Duties & Responsibilities:

The candidate’s primary responsibilities include, but are not limited to, a combination of the following activities:

Clearances and Master data maintenance for trust funds:

  • Review, interpret, and clear legal and Bank’s internal documents such as Trust Fund Proposals (TFP), Administration agreements /amendments for creation/activation and maintenance of trust fund master data
  • Ownership and maintenance of master reference fields in SAP for assigned trust fund programs in accordance with the program specific requirements and legal and internal documents.
  • Process call of funds per agreed upon terms

Execution of key business processes for trust funds and Loans:

  • Manage the settlement process for the Loan portfolio
  • Manage expense reposting requests from clients, review and process such requests efficiently in accordance with the reposting guidelines and agreed SLA
  • Process contribution and other receipts based on legal agreements, liaising with Treasury, Task Teams and donor contacts.
  • Process the Bank-executed trust fund closures past their end disbursement date
  • Process donor refunds per donor instructions

Respond to client queries and calls under TFAST and Loans Client Services Helpdesks:

  • Assist task teams in navigating the trust fund tools and applications
  • Coordinate with ITS to resolve technical and other system issues related to these applications
  • Respond to Tier 1 queries from the Borrowers/CMUs for the Loans portfolio

Process improvements & automation projects:

  • Lead/Participate in automation projects and coordinate with technical teams on system changes, bug fixes, enhancements and testing
  • Contribute to the continuous improvements and process enhancement initiatives surrounding trust fund and Loan processes aimed at simplification and/or enhancements to process quality and controls;
  • Provide inputs and actively participate in various institutional projects;

OthersProvide a variety of metrics / charts to be included in overall departmental operations report to measure progress of operations at Chennai vis-a-vis agreed norms for management information and action;

Selection Criteria

  • 2-4 years of accounting experience, Chartered Accountant or Certified Public Accountant with 0 to 1 year of work experience preferred;
  • Exposure to an integrated accounting system would be highly desirable;
  • Attention to detail and numerical accuracy while managing multiple tasks and projects;
  • Good team player, with a strong client and results orientation, capable of working within a multicultural environment, with minimum supervision;
  • Good written and oral language skills in English;
  • Ability to deal with rapidly shifting priorities and work demands, and willingness to learn new skills and seek help from colleagues;
  • Strong computer skills, and basic understanding of information systems and the application of newer technologies.

Source:https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=5016&site=1


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