Thinking of a Career in Emergency Management?
- BY Nicole Pelette
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.
The IFC Controllers Department (CNT) 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 Financial Integration, Systems and Projects (CNTFS) unit within the Controllers Department focuses on the integration of relevant data from IFC’s key accounting and transaction systems into timely and accurate management reporting that supports decision making in line with IFC’s strategic priorities. One of the primary responsibilities of the unit is the business ownership of IFC’s investment profitability system, FSRS (Financial Sustainability Reporting System), a management reporting tool with close to 300 users within IFC, which brings together and disaggregates financial data from IFC Controllers systems to provide investment P&L statements down to investment project-level. In addition to maintaining FSRS and providing investment portfolio analytics for portfolio reviews, KPI scorecards and other corporate reports, the CNTFS team is involved in most Corporate and / or Controllers projects and initiatives that seek to enhance IFC’s ability to capture relevant information and integrate data from different streams into transaction, accounting and operations systems and ultimately to management reporting. Such initiatives include US GAAP accounting standard updates, such as the implementation of Current Expected Credit Losses (CECL); the ACBS upgrade effort; and the streamlining and enhancing of existing systems such as IPAR, ODS and FSRS, where CNTFS is involved in all aspects of project management, from business requirement coordination and gathering, to close collaboration with IT teams and consultants through all steps of the projects including testing and implementation. The team responsible for CNTFS’s work program is co-located in Washington DC (HQ) and WBG’s Chennai Office. Team members located in WBG’s Chennai office, under the unit WFAFS, provide support and interact with IFC colleagues based in Washington DC (HQ) on a day–to–day basis.
Starting in fiscal year 2021 on July 1, 2020, IFC is adopting new loss provisioning methodologies to be compliant with the Current Expected Credit Losses (CECL) accounting standard issued by the Financial Accounting Standards Board (FASB). The CECL implementation project is managed by Controllers department with significant engagement across various teams within IFC, primarily with Risk, Credit and Controller departments.
CNTFS is seeking a qualified Finance Officer to help support its Project, Financial Integration, Reporting & Analytics functions, including
the implementation of financial projects, including CECL, across the reporting and accounting frameworks, as well as
monitoring and reporting on accounting results with financial/management reporting,
creation of efficiencies through automation and streamlining of deliverables, and
help assure IT systems enhancement projects are under budget and comply with business requirements and needed governance framework(s).
This position reports functionally to the Head of the CNTFS team. The successful candidate is expected to be current with accounting developments, be proactive in responding to the rapidly changing accounting and business environment and have solid analytics skills. His/her work product is expected to be technically sound, timely and results-driven. He/she is expected to be a team player and self-starter in identifying issues and undertaking projects through completion.
Duties & Responsibilities:
The successful candidate will be a Financial/Accounting professional with broad and deep technical expertise related to the Controller’s operations and activities. His / her responsibilities will include:
Management of the Controllers Financial & Accounting projects, including CECL implementation and stabilization efforts, to ensure that required methodologies are properly designed and tested in systems to produce financial results in compliance with US GAAP.Preparation and analysis of financial and accounting information for IFC’s operational, financial and management reports to management and other units in the IFC, including PnL input to Regional Portfolio Reviews; KPI metrics to the IFC Scorecard; and ad hoc loan and equity profitability analytics.Support efforts in the development, streamlining, automation and coordination of IFC’s operational, financial and management reports.Support efforts in providing quality assurance for IFC’s operational, financial and management reports by verifying data to various source systems, reconciliation and ensuring data consistency across operational, financial and management reports.Providing management reporting input into the design of various accounting and reporting systems, data mining, and analytical tools supported by CNT.Support efforts in preparation of ad-hoc database analysis with database management and reporting/visualization tool like Tableau/Business Objects.Translating new initiatives or financial products into new reporting concepts and/or IT system requirements. This includes documenting approaches and processes, drafting Business Requirements Documents, test plan and end-to-end testing of systems.Supporting user training by developing training materials and handling user queries post implementation where applicable.Regularly sharing key information on processes, timelines, status, responsibilities, expectations and potential problems with supervisors and team members and seek their input.Undertaking ad hoc projects and special assignments as needed.
Bachelors or Master’s in business, finance, accounting, systems or related field. CFA, CA, CPA or FRM is advantageous.Minimum of 5-10 years’ experience in similar or complementary roles.Knowledge and experience in accounting and financial and/or management reporting.Working knowledge of one or more complex, highly integrated accounting systems, and financial reporting tools;Excellent understanding of accounting concepts and strong knowledge of IFC’s Financial Products and business lines.Experience performing reconciliations and analysis, proficient in working with large data volumes and diligent in documenting workflows.Understand accounting information flows across multiple systems (Corporate centralized database, accounting subsystems and general ledger, MIS etc) with experience and knowledge of IFC/World Bank Group accounting systems.Competent in office technology tools with advanced Excel / Excel VBA skills.Ability to produce quality work with a high degree of accuracy, handle changes in priorities and coordinate work on multiple tasks.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; detail oriented.Proven capacity to multi-task, deliver results and respond quickly and effectively to requests. Ability and desire to meet tight deadlinesExcellent writing and editing skills in English, with an ability to convey complex ideas clearly and succinctly.
WBG Core Competencies
Deliver Results for Clients - Achieves results and identifies mission-driven solutions.Collaborate Within Teams and Across Boundaries - Initiates collaboration across boundaries and broadly across WBG and brings differing ideas into the forefront.Lead and Innovate - Develops innovative solutions with others.Create, Apply and Share Knowledge - Creates, applies and shares knowledge from across WBG to strengthen internal and/or external client solutions.Make Smart Decisions - Recommends and takes decisive action.
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.