The Corporate Reporting and Analysis team (WFACR) is responsible for all aspects of IBRD and IDA’s financial reporting. This includes: quarterly/annual financial statements and management discussion and analyses (MD&A), related management reporting, business unit accounting oversight responsibilities (loans, cash, borrowings, investments, trust funds, pension, and administrative expenses), and the monthly closing of IBRD and IDA’s ledgers. The team also handles all aspects of IBRD’s capital accounting and the approval function of all IDA capital accounting transactions. The team’s roles and responsibilities provide a holistic understanding of the financial dynamics of IBRD and IDA, which places the team in a strong position to be able to assess the impact of market and institutional developments on the financial results of the two entities.
The Senior Financial Officer will report to the Division Manager.
Roles & Responsibilities:
Financial reporting: Serve as a key point of contact for the preparation of IBRD/IDA’s financial statements including the MD&A, management reporting and other ancillary documents. Ensure that monthly, quarterly, and annual financial reporting is accurate, timely, and in compliance with GAAP and/or internal reporting requirements;
Financial analysis: Identify trends and/or potential inconsistencies through critical review of data and fact patterns. Assess the Bank’s financial position and results in the context of market movements. Specifically, monitor the interest rate, foreign exchange, and credit risk exposures of all financial instruments used by the Bank, including those in the loan, investment, and the borrowing portfolios;
Accounting Policy: Research accounting issues and interpret accounting standards in coordination with the Accounting Policy team to ensure the timely and accurate application of existing and new accounting guidance. Maintain strong working knowledge of the applicable accounting framework as well as a thorough understanding of the Bank’s portfolios and processes to analyze the appropriate accounting treatment of new financial products and strategies;
Internal/external relationship management: Act as a key point of contact for the external auditors. Coordinate financial reporting, accounting, internal control, and external audit activities with counterparts from other business units within the Bank;
Training and professional development: Provide direction and training to less experienced staff in the course of their day-to-day work regarding the Bank’s significant processes and procedures. Provide guidance as needed and serve as a source of help for inquiries.
Selection Criteria:
CPA or equivalent designation
Master's degree in Finance, Accounting, or MBA, with a minimum of eight years of experience or equivalent combination of education and experience;
Background in financial services industry and familiarity with banking and capital market transactions and/or Big Four or equivalent public accounting experience
Strong knowledge of U.S. GAAP and proficiency with researching accounting literature;
Understanding of the overall financial dynamics of IBRD and IDA would be advantageous.
Hands on experience in statutory and management reporting for a financial institution.
Working knowledge of one or more complex, highly integrated accounting systems, and financial reporting tools.
Strong knowledge and experience with internal controls over financial reporting.
Strong communication skills, including the ability to explain and express views/opinions clearly and confidently.
Ability to deal sensitively in a multi-cultural environment and build effective working relations with clients and colleagues.
