Accounting Officer

World Bank, Washington, United States

Skill Required:, Finance and Accounts
Preferred Experience: 
5 years
Closing Date for Applications: 
23rd December, 2019

Job Description


Do you want to build a career that is truly worthwhile? The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities where they are needed most. Visit 

The IFC Controllers Department is responsible for effectively and efficiently managing IFC’s Financial Operations (loan, equity and short-term finance operations, and back-office treasury support operations), Financial Reporting (including portfolio review, investment accounting and accounting policy), Internal Controls, and Financial Systems, Integration and Projects. The Department comprises approximately 125 diverse and highly skilled staff, based in Washington DC, and Chennai.

The Loan and Equity Operations units (CNTLO-EC) within the Controllers Department have overall responsibility for recording, servicing, and providing post-commitment support for the private sector loans, guarantees, short term finance products and programs, and the equity investments of the International Finance Corporation.

The CNTLO-EC units provide financial operations support and services to the IFC Investment Departments, counterparts, internal and external financial and investment reporting units, syndication and treasury units, and portfolio management units, in the administration and management of all IFC Loans, Guarantees, Equity, and Donor-Trust Funds financial operations. The units ensure that loan and guarantee agreements, equity investments, and donor-trust-fund investments are recorded accurately and timely in the Corporation’s systems of record and general ledger. The units support all disbursement activities (e.g., call of funds, transfer of funds to clients, booking of disbursement data in systems of record) and all ongoing servicing functions over the life cycle of each investment, e.g. fee, interest and principal invoicing; repayment processing; specialized loan functions such as loan restructurings; equity sales and corporate actions.

The units play a key role in the decision-making for, and implementation of, IT systems and upgrades, as well as in the implementation of new initiatives and financial products to ensure that data is recorded accurately and timely.

A new Quality Assurance team is being created within CNTLO and the Accounting Officer position, based in Washington, DC will be assigned to this team. The Accounting Officer will be under the direct supervision of the Team Lead to fulfill the team’s responsibilities outlined below.

Duties & Responsibilities:

The successful candidate will be responsible for proactively taking ownership and/or supporting various aspects of the Quality Assurance work program, including project management, technical accounting, metrics and controls, data mining and analysis, resource performance management, strategic staffing/organizational structure, performance metrics, operational risk management, financial reporting, technology/automation development and knowledge/learning.

The successful candidate is expected to have deep accounting knowledge for loan/equity/guarantee investments and strong interpersonal skills.

The successful candidate will be a Financial/Accounting professional with broad and deep technical expertise related to the Controller’s operations and activities. Those responsibilities will include:

Supporting all activities encompassing the control and financial accounting for all IFC financial products relevant to the Loan and Equity operations.Providing guidance and operational support on accounting transactions and accounting schemas to ensure end-to end integration across systems and integrity of reporting in Financial Statements.Providing guidance on implementation of accounting-related, large financial IT system impacting multiple user groups across multiple departments.Providing technical accounting expertise on all IFC financial products related to the Loan and Equity operations and their related business events and accounting mapping to SAP.Providing technical accounting knowledge of SAP and corresponding mapping with transaction processing systems (ACBS and Investran).Ensuring that technical accounting conclusions by the Investment Accounting unit for complex investment modification transactions are recorded accurately in ACBS (Loan system) and Investran (Equity system).Working closely with Internal Controls and external auditors to ensure Controllers Department meets or exceeds all ICFR requirements. This includes articulating recommendations for new processes and relevant controls.Providing operational support in the monthly, quarterly, and fiscal-year end closing process of the transaction processing systems.Proactively interacting with staff in the IFC Controllers Department to ensure accurate and timely accounting of all IFC’s transactions.Fiduciary responsibility in reviewing policies and procedures and ensure they are correctly followed. Translating new initiatives or financial products into new processes and/or IT system requirements. This includes documenting approaches and processes, drafting Business Requirements Documents, test plans and end-to-end testing of systems.Continually looking for opportunities to improve processes and internal controls. Supporting the analysis of loan and equity data to management and other units in the IFC.

Other Duties and Accountabilities:

Supporting the Quality Assurance Team Lead in implementing and maintaining processes to identify, measure, monitor, mitigate, and report operational risk within the Loan and Equity team.
Working independently under the general direction of the Quality Assurance Team Lead.

Selection Criteria

Undergraduate degree(s) in Accounting, Finance, or a related field. Master’s degree or equivalent is advantageous. CPA, CA or equivalent certification required. CFA a plus.Typically, the successful candidate will have had at least 5-10 years of relevant experience in accounting and pertaining to international financial instruments, loans and equity transactions, or equivalent combination of education and experience. Private sector and/or IFC experience a plus.Working knowledge of one or more complex, highly integrated accounting systems, and financial reporting tools;Excellent understanding of accounting concepts and knowledge of IFC’s Financial Products.Applied knowledge of operational risk characteristics including reporting and Key Risk Indicators (KRIs)Demonstrated high level of initiative, self-confidence and a self-starter.Diplomacy and strong interpersonal skills; commitment to work in a team-oriented, multi-cultural environment; and detail oriented.Proven capacity to multi-task, deliver results and respond quickly and effectively to requests. Ability and desire to meet tight deadlines.Ability to assist or lead the development of IT projects, identify opportunities for automation and propose the right and sustainable solutions to improve operational efficiency;Ability to provide recommendations to users and to challenge the status quo to deliver the right solutions;Demonstrated track record in managing complexity, identifying interdependencies, and taking a corporate view; Excellent verbal and written communication and presentation skills.Highest ethical standards.

WBG Core Competencies

Controllers Department Competencies

Client Understanding and Advising: Advises the clients and helps them think proactively about how to best meet their current and future needs, taking into considerations the real underlying issues. Works across CNT and with other VPUs to define client needs and develop the right solutions to meet those needs.PLUS: Provides recommendations to multiple VPUs that can add value to customers beyond normal offerings.Broad Business Thinking: Maintains an in-depth understanding of key business issues.Sets clear explanations for the integration and alignment of CNT solutions with business functions.PLUS: consider WBG wide implications in decision making to ensure consistency across WBG. Sponsors long-term VPU-wide initiatives.Information Technology and Systems: Demonstrates understanding of the functions and operations of pertinent IT systems and applications. Provides inputs to IT system enhancement efforts based on day to day working experience and knowledge of the systems.Analytical Thinking: Coordinates the information gathering and reporting process. Reviews trends and compares to expectations. Conducts analysis to define problems and prepares responses to anticipated questions.Policies and Procedures: Demonstrates thorough knowledge of policies and procedures in related fields.Risks and Controls: Leads by example and serves as best practice champions in completing internal control procedures, including understanding impact beyond own immediate functional areas.Communication: Adapts the communication style appropriate for the intended audience. Adopts an inclusive approach to communication as is appropriate to the situation, so as to ensure adequate stakeholder participation. Presents information effectively and encourage feedback.Project Management: Understands and utilizes the concepts of project management, as they relate to the implementation of a project.


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