Thinking of a Career in Emergency Management?
- BY Nicole Pelette
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:
WFAFC is responsible for a broad range of activities and consists of four divisions:
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:
Education & Experience:
Core Technical Knowledge and Skills: