Corporate Reporting - Senior Financial Assistant

The World Bank, Chennai, India

Skill Required:, Finance and Accounts
Preferred Experience: 
1 to 3 Years
Closing Date for Applications: 
25th January, 2019


Job Description

About the World Bank Group:

Established in 1944, the WBG is one of the world’s largest sources of funding and knowledge for development solutions. 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 nearly 15,000 staff located 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.

Unit Overview – WFA

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

Organizationally, WFA is comprised of four functional areas: (1) Corporate Accounting and Reporting; (2) WBG Accounting Business Services; (3) WBG Financial Operations; and (4) WBG Finance and Operations, Chennai. These units report directly to the WBG Controller who heads the WFA Vice Presidency.

The Chennai office of the WBG was set up in August 2001 with about 70 staff. Today, the office has over 1100 staff and contractors across nine WBG business units. The Chennai office offers corporate financial, accounting, administrative, treasury, risk management, HR, and IT services to internal WBG clients based in Washington, D.C. and country offices.

The Chennai team (WFACC) of the Corporate Reporting and Analysis division (WFACR), is a dynamic team of accounting and finance professionals, which together with the team in Washington D.C., is responsible for all aspects of IBRD and IDA’s financial reporting. This includes: quarterly/annual financial statements and management discussion and analyses, business unit accounting oversight responsibilities (loans, cash, borrowings, investments, trust funds, pension, and administrative expenses), monthly closing of IBRD and IDA’s ledgers, preparation and review of the monthly trial balances, and other ad hoc deliverables. The team also handles all aspects of IBRD’s capital accounting framework and the approval function of all IDA capital accounting transactions. The team’s roles and responsibilities provide a holistic understanding of the financial dynamics of IBRD and IDA, which places the team in a strong position to be able to assess the impact of market and institutional developments on the financial results of the two entities.

Duties

Generally encompass core areas: Statutory financial reporting, Management reporting, Financial Analysis, Trial Balance close process, Capital Business processing. Participate in multiple areas of responsibilities with duties in all areas.

Senior Financial Assistant will participate in the areas responsible for:

  • Maintaining the capital accounts for IBRD and IDA
  • Coordination of monthly closing process for the decentralized business units of the Bank
  • Analyzing financial results and balances for reasonableness as part of oversight responsibilities
  • Preparing internal and external financial statements / reports and other management reports for IBRD and IDA
  • Duties also include participation in WFA projects and preparation of ad-hoc financial analysis for management.

Examples of specific accountabilities:

  • Maintain the Financial ledgers for IBRD/ IDA capital; approving transactions relating to processing of capital, leading to generation of accounting for the same and monthly closing of books of IBRD/IDA capital;
  • Prepare communications with member countries;
  • Monthly Trial Balance close process for the decentralized business units of the Bank;
  • Prepare defined portions of quarterly and annual financial statements including Management Discussion & Analysis, Information Statements, Annual Report and Financial Info App;
  • Preparation of Management reports on a monthly basis and support ad hoc information requests
  • Participation in the implementation of new features or enhancements to existing accounting systems;
  • Documentation and maintenance of processes, controls and checks for financial reporting;
  • Regularly share key information on processes, timelines, status, responsibilities, expectations and potential problems with supervisors and team members and seek their input; and
  • Performing other responsibilities assigned from time to time.

Selection Criteria

  • Chartered Accountant, or equivalent professional degree required. Bachelors degree in a related field, advanced degree will be a plus;
  • Basic knowledge of financial instruments and financial markets;
  • Candidates with 0-1 year of post-qualification experience in similar or complementary roles is required;
  • Full proficiency in Microsoft Windows applications, namely Excel, Word and Power Point. Demonstrated ability to learn new technology quickly and effectively use it for maximum productivity. Knowledge of SAP will be an advantage;
  • Excellent analytical skills. The ability to develop and apply methodologies to test and explain changes in financial trends and results using computer assisted techniques;
  • Strong interpersonal skills and cultural sensitivity;
  • Comfortable working in pressured environment with capacity to deliver high-quality outputs and results to tight deadlines;
  • Ability to multitask and work effectively in multidisciplinary teams; and
  • High degree of self-motivation and proven ability to work under minimum supervision and as part of a team;

Source:https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=1708&site=1


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