Current Hiring Practices and Trends in the Development Sector
- BY David Mackenzie
The World Bank Group (WBG) Finance & Accounting Vice Presidency is responsible for all aspects of the financial reporting and internal control framework for 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 extensive Trust Fund/Partnership portfolio of these entities. The WBG F&A also leads the client service function for the WBG corporate expenses and WBG trust funds, ensures fiduciary responsibility for all disbursements related to Bank operations, and leads the IFC Business Partnership function, including the IFC Budget, Finance & Procurement Networks, as well as the IFC Facilities Management, Procurement & Administrative function.
World Bank Group Finance and Accounting (WFA), one of the vice presidencies in the Bank Group, is responsible for all aspects of the financial reporting and 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. The vice presidency is also responsible for expressing a Finance viewpoint on controls over Bank Group operations, particularly those which validate the appropriateness of loan disbursements. 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 500 staff, of which 170 are in WBG’s Washington, D.C. headquarters with the remainder in regional offices including the largest in Chennai, India.
WFA’s Accounting Business Services Division (WFAAB), part of the Financial Controls Department, is responsible for recording and reporting the World Bank Group’s administrative expenses and fixed assets, which have a combined financial statement value of approximately $5 billion. WFAAB also provides strategic leadership and guidance to business units across the Bank Group on developing and maintaining an effective system of internal controls over processing and reporting administrative expenses.
The Assurance and Client Support unit (WFAAC) is in Chennai, India, and functionally reports to WFAAB. The Country Office Accounting team, part of WFAAC, provides guidance to country offices about accounting policies & procedures and monitors the accounting controls at country offices by carrying out various control review activities. The team contributes to the overall improvement of the control environment at the country offices through such control reviews and continuous knowledge sharing with the country office accountants.
Note: If the selected candidate is a current Bank Group staff member with a regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 2-year term appointment.
There is 1 open position. This remains a competitive process and interested candidates are encouraged to apply.
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 2 year term appointment.
Duties and Accountabilities: