World Bank, Chennai, India
Closing Date for Applications:
- 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
- The World Bank Group Finance and Accounting (WFA) Vice Presidency Unit, is responsible for all aspects of financial accounting, reporting and the internal control framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC) and the extensive Trust Fund/Partnership portfolio of those entities.
- 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 450 staff, of which approximately 150 are in Washington, D.C., with the remainder in regional offices including the largest in Chennai, India.
- WFA has a large footprint in Chennai (WFACO) with over 250 staff. Functionally, the Senior team leads report to Managers of their respective units in Washington, DC; administratively, they report to the WFA Chennai Manager, who has cross-cutting responsibilities for WFA Chennai and some functional responsibilities.
- The Country office accounting team (WFACN) and Askaccounting team (WFAAN) reports directly to the WFA Manager in Chennai (WFACO)
- The WFA Country Office Accounting (WFACN), part of Accounting Business services comprises two work program 1. Country Office Accounting (COA) and 2. Vendor Master Records (VMR) and is managed by a Team Lead who reports to the WFA Chennai Manager
The COA team works with WBG country offices (COs) and performs the below activities
- Review of Imprest accounts of country offices and follow up for any action
- Review and sign off on Imprest Trial Balance
- Accounting for Country Office Leases
- Perform control assessment through Monthly submission reports
- Provide support on corporate expense policies and technical advice on accounting matters and SAP processes to CO accountants. Provide CO training
- Accounting and support of goods and services refund claims (GST)
- Chennai Imprest activities
- The VMR team is involved in the management of Vendor Master Records (VMR) for WBG. VMR Team is responsible for updating banking information in vendor master records (VMR) for Head Quarters and Country Office vendors after performing necessary due diligence. VMR team also performs participates in projects that strengthen the Bank’ vendor management especially with reference to vendor banking details.
Duties and Accountabilities:
- Establish and maintain accounting practices to ensure accurate and reliable data necessary for business operations. Conduct periodic reviews to verify accuracy of records, compliance with Bank's policies and procedures.
- Provide day-to-day support and technical advice to country office accountants on accounting matters and the related SAP processes. Participate in implementing and delivery of an effective system for control assessment of processes at country offices using Monthly Submission Reports etc.
- Assist in preparation of schedules to compile report on imprest accounts for financial reporting purposes. Coordinate schedules, activities and reports with other departments.
- Review cash replenishment requirements from country offices, perform due diligence in review of write-off requests from country offices and provide guidance for transfer of Imprest funds into and out of bank's designated depository accounts.
- Submit GST claims, handle queries, perform reconciliations and present adhoc reports to management
- Provide inputs and actively participate to support management's initiatives to improve the process quality & process related controls.
- Contribute in preparation of the accounting procedures documentation in the Country Office guidelines and on-going updates.
- Participate in imparting training to country office accountants on Imprest administration procedures, bank's policies and procedures, SAP accounting, including resolution of specific issues.
- Prepare accounting and control procedures documentation for implementation in the country offices.
- Identify, participate in the design of business requirements, user testing and implementation of any new systems, applications, tools and reports for the team, to enhance efficiency, effectiveness and standardization.
- Provide a variety of metrics / charts to be included in overall departmental operations report to measure progress of operations for the team vis-a-vis agreed norms for management information and action;
Education and Experience:
- Candidates should have the following qualifications and experience:
- Bachelor's degree in Accounting/Finance/Commerce or related field with a minimum of 2 years of relevant experience.
- Proficiency in Microsoft Windows applications, namely Excel, Word and Power Point, including advanced spreadsheet design, manipulation, and analysis skills.
- In-depth, detailed understanding of accounting systems, preferably SAP FI modules and their control features and configuration capabilities/implementation at the Bank.
- Excellent judgment, very good written and oral communications skills (including the ability to write clear, concise and complete procedure); ability to carry out a multi-dimensional, multi-functional work program.
- Ability to deal sensitively in multi-cultural environments and build effective working relations with clients and colleagues.
- Exhibit a personality that enables the incumbent to be client focused, flexible and an excellent team player. Ability to effectively work with other staff in the department and elsewhere in the Bank and handle functions with ownership.