Accounting Analyst

World Bank, DC, United States

Skill Required:, Finance and AccountsProject Management
Preferred Experience: 
3 Years
Closing Date for Applications: 
23rd August, 2019


Job Description

Established in 1944, the World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. In fiscal year 2018, the WBG committed $67 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $24 billion was concessional finance to its poorest members. It is governed by 188 member countries and delivers services out of 120 offices with over 16,000 staff globally.

The WBG consists of five specialized institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). The World Bank is organized into six client-facing Regional Vice-Presidencies, several corporate functions and thirteen Global Practices to bring best-in-class knowledge and solutions to regional and country clients.

The WBG Finance & Accounting (WFA) Vice Presidency is responsible for all aspects of the financial reporting and internal control framework for IBRD, IDA, and the extensive Trust Fund/Partnership portfolio of these entities. WFA also leads the client service function for the WBG’s administrative expenses and trust funds and ensures fiduciary responsibility for all disbursements related to Bank operations.

Organizationally, WFA comprises three functional departments:

  • WBG Corporate Accounting and Reporting (WFACA),
  • WFA Trust Funds and Loans (WFATL), and
  • WFA Financial Controls (WFAFC). These units, along with WFA Chennai and WFA Systems and Transformation divisions, report directly to the WBG Controller who heads the WFA Vice Presidency.

WFAFC is responsible for a broad range of activities and consists of four divisions:

  • WFA Accounts Receivable, Payroll and Tax (WFAPT),
  • Accounts Payable, Quality Assurance, and Travel Accounting division (WFATA),
  • WFA Structured Finance (WFASF), and (4) WFA Valuation and Analytics (WFAVA).

Unit Overview:

WFA’s Accounts Receivable, Payroll, and Tax (WFAPT) will be responsible for ensuring that  accounts receivable are recorded, monitored and collected in a timely and efficient manner, salary and benefit payments to the WBG staff are processed in a timely and efficient manner, and tax allowances to the WBG staff and retirees are processed in a timely and efficient manner. It also provides strategic leadership and guidance to business units across the WBG on developing and maintaining an effective system of internal controls over AR, payroll, and tax. This division has a team of about 43 staff – 15 staff in Washington D.C. and 28 staff in Chennai.

The Tax team in WFAPT administers tax allowances on World Bank Group compensation and tax supplements on Net Staff Retirement Plan pension payments in accordance with tax laws and WBG policies. Among other responsibilities, the Tax team is involved in the development and modification of tax policy, manages the Tax Allowance Budget, executes all tax payments, monitors corresponding financial data and actively participates in discussions and decisions on tax matters relating to the World Bank Group compensation and pension. The Tax team is also involved in the research of national tax laws and evaluation of World Bank Group agreements with member countries to determine the tax implications on World Bank Group emoluments and pensions. Additionally, the Tax team ensures that the tax allowance/tax supplement policies are applied to staff members on a consistent and equitable basis.

WFAPT is currently seeking an Accounting Analyst to join its Tax team in Washington, DC. The successful candidate will primarily support the tax allowance activities within the team. The position interacts extensively with the Chennai tax team, HR, Legal, WBG country offices, and the Information and Technology Solutions Group (ITS).

Duties and Responsibilities

The Accounting Analyst will report to and work closely with the Tax team lead, Senior Accounting Officer, on the following tasks:

  • Support the Tax team to monitor tax allowance related projects and the periodical Business Continuity Plan to ensure that the assigned tasks and testing plans are successfully executed in accordance with the project timeline.
  • Administer complex US and non-US tax allowance payments in accordance with WBG tax allowance policy; this includes but is not limited to calculating and participating in the release of the tax allowance payments.
  • Support senior staff members to research country tax laws and evaluate the applicable agreements between the member countries and WBG for implications on WBG compensation
  • Serve as one of the key anchors for the Tax team and interact extensively with business partners, including HR, Legal, and external vendors, for various projects and processes.
  • Analyze escalated tax allowance cases, present findings and propose solutions.
  • Collaborate with ITS colleagues on tax related system initiatives, including analysis, design and testing of system enhancements, to deliver robust technology solutions.
  • Generate relevant data and work with senior staff to analyze the impact of the tax law changes on the tax allowance calculations, identify areas of inconsistency with the policies, and to refine the calculation methodology.
  • Coordinate with the Tax team in Chennai in administering the US tax allowance program, provide guidance to the team, and help resolve concerns
  • Serve as an adequate source of help for the Chennai team’s Tax Service Desk inquiries and work with WBG staff members as needed.
  • In charge of the accounting on tax allowance expenses; analyze tax accounting data to ensure integrity of the WBG’s financial records; monitor transactions with vendors.

Selection Criteria:

Education & Experience:

  • Undergraduate degree in Accounting, Finance, or related field is required.
  • Certified Public Accountant/Enroll Agent, or equivalent qualification is a plus
  • Experience - Minimum of four years’ experience in preparation and review of: individual tax returns and gross-up/tax equalization calculations for US/Non-US assignees of multinational corporations, preferably in a Big 4 accounting firm.
  • Project management and systems implementation experience is desirable.

Core Technical Knowledge and Skills:

  • In depth knowledge of US individual income tax regulations and non-US individual income taxation.
  • Strong knowledge of tax calculation, including impact of different calculation elements on final tax results.
  • Proven ability to manage projects and meet tight deadlines and possess attention to detail.
  • Ability to analyze tax and accounting data structures and data inter-relationships and make recommendations to improve process, system and controls.
  • Demonstrated ability to learn and apply new technology quickly and effectively. Experience in system development projects is a plus.
  • Strong written and oral communication skills. Excellent interpersonal skills and ability to interact with staff at all levels.
  • Should be client focused, yet flexible to changing needs, and work effectively with other teams
  • Ability to work independently as well as in a team environment, and escalate/consult when necessary
  • Meet WFA Core Competencies at GE level (given below)

Source:https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=3921&site=1


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