Do you want to build a career that is truly worthwhile? 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 and promoting shared prosperity. 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.
Treasury is the Vice Presidency, reporting to the Managing Director and World Bank Group Chief Financial Officer, performing treasury functions for the IBRD and IDA and, to varying degrees, for other members of the World Bank Group and other public sector investors. Its activities are organized and grouped into the following departments: Capital Markets & Investment Management, Client Asset Management and Advisory, and Treasury Operations.
Treasury (TRE) has been a large and significant player in the international financial markets for over seventy years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager. Treasury is responsible for: (i) managing approximately $195 billion in assets for the World Bank and other official sector investors; (ii) leading IBRD’s and IDA’s triple-A rated financing programs in international and domestic bond and derivative markets; (iii) conducting asset and liability management for IBRD’s and IDA’s balance sheets; (iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and (v) collaborating with the World Bank member countries to help build their capacity. Staff in Treasury regularly interact and collaborate with other Departments across the Bank and Finance Partners’ teams.
The Treasury Operations Department (TREOP) provides a full range of operational support for the Treasury’s asset management, capital markets and banking businesses. The Department is presently organized into three operational units: Asset and Liability Operations (TREAL), Cash and Banking Operations (TREBK) and Quantitative Solutions and Analytics (TREQA), and a Financial Technology coordination unit (TREFT).
The Treasury Banking Operations (TREBK) team ensures all World Bank payments, receipts, and FX related to corporate cash activity are processed and performs key reconciliation controls and reporting over cash transactions and investment portfolios. The unit consists of four teams responsible for coordinating to execute the work program: (1) cash planning and ensuring all FX conversions are executed to meet the Bank’s liquidity needs and processing payments and receipts for proper accounting; (2) managing bank accounts and relationships with all corporate banking counterparts: (3) performing controls to ensure the completeness, accuracy and validity of all cash and security positions, investigating and resolving differences with external records, and financial reporting of cash balances and external client reporting of investment holdings; and (4) managing the WBG’s SWIFT infrastructure and maintaining SSIs and key static data related to payment and receipt processing.
Duties and Accountabilities:
The TRE Operations Chennai (TRECH) is an integral part of TRE and is responsible for a variety of duties providing vital support across its operational divisions. It works closely with the Headquarters in Washington D.C and another shared services center in Sofia, Bulgaria. Under the guidance and supervision of a Team Lead and/or Functional Lead, the incumbent will have responsibilities for specific individual tasks/projects as well as for working as an integral part of the team in executing the Treasury Operation’s work program, while maintaining close relationships with the other Treasury departments.
The role is in Cash Investigations, Reconciliation and Accounting team which is responsible for performing controls that include the reconciliation and bookkeeping of the majority of all WBG bank accounts. In performing these functions, the team works closely with internal partners and market counterparts as well as external service providers such as technology vendors, banks, and paying agents. As and when required, the team is also expected to facilitate the implementation of new products, markets, and business-related technology solutions. The incumbent will be expected to perform some combination of the following functions:
Client Reconciliation and Reporting:
• Perform daily cash reconciliation for cash flows (in several currencies) related to the asset management business i.e., money market transactions, repos, foreign exchange, buys and sells of fixed income, government and bond transactions and asset/mortgage-backed securities.
• Investigate reconciliation differences, performing analysis, posting necessary adjustments for resolution of any differences, preparing commentaries on results / findings, and recommending solutions in a proactive manner.
• Assist in the timely and accurate submission of monthly reconciliation reports comparing the World Bank’s Investments and Net Asset Value data against corresponding custodian records.
• Effectively support the daily and monthly reconciliations process of World Bank’s Investment Asset positions against corresponding custodian records.
• Support and maintain the static data and reporting templates in the World Bank’s securities reconciliation and client reporting system.
Cash Accounting:
• Assist in the month-end book close process for cash including preparation of reports and necessary adjustments needed to ensure accuracy of data and balances that are sent to general ledger system (SAP)
• Assist in the prompt delivery of daily, monthly, quarterly, and year-end deliverables and other ad- hoc reporting requirements for Treasury's worldwide clients.
• Prepare daily system-to-system reconciliations and controls reviews, investigate breaks and communicate findings promptly to ensure proper follow-up and timely resolutions of any identified differences and exceptions.
Process Re-engineering:
• Identify, analyze and prioritize automation opportunities focusing on enhancing efficiency and accuracy.
• Support automation initiatives and projects relating to various sub-operational areas including maintenance of databases, dashboards, and reports using tools such as RPA, Power-Apps/Automate.
• Other ad hoc tasks as may be assigned.
As determined by management, depending on business needs:
• The work program is subject to change at any time and the candidate may be reassigned to another team.
• The candidate is expected to work Singapore / London shift and at times will be required to provide extended support to overlap with Washington DC.
• Candidate will be required to observe US Holiday calendar and might be required to work on designated holidays to meet reporting deadlines as per business needs.
• The position requires candidate to work from office in Chennai and comply with WBG's return-to-office guidelines for staff.
Selection Criteria :
Bachelor’s degree in commerce, Accounting, Finance, Business Administration or Computer applications with at least 3 years of relevant professional experience. Candidates with post-graduate degrees in similar disciplines will have an advantage.
Knowledge of and experience in financial instruments including fixed income securities like Mortgage- backed securities, fixed income derivatives products and with systems that support trading and reporting activities.
Knowledge of and experience in cash and custody reconciliation, and reporting processes with systems that support trading and reporting activities such as Bloomberg, Summit, Murex, Quantum, Intellimatch or other proprietary Banking Systems.
Knowledge of the payments processing space, including SWIFT payments, ACH clearing, and cross- border payments. A strong understanding of the common issues encountered in payments processing, and future trends (particularly ISO 20022), and technology shaping the payments industry.
Strong quantitative and analytical skills, including programming knowledge of Python, Power Query, Power Apps, and Excel Macro writing ability with a proven track record of successful process engineering/improvement projects.
Excellent written and verbal communication skills, with the ability to interact tactfully with clients and/or business associates across all levels, while exercising sound judgement in handling confidential information.
Demonstrated ability to learn new technology quickly and effectively for maximum productivity.
High level of initiative, self-confidence, and a self-starter; ability to apply a practical matured approach to problem solving with minimum supervision.
Demonstrated ability to handle a variety of concurrent activities with excellent organization and time management skills, mature judgment, attention to detail and ability to work under pressure.
Diplomacy and strong interpersonal skills with strong commitment to work in a respectful team oriented and multi-cultural work environment.
