Do you want to build a career that is truly worthwhile? Working at the World Bank provides a unique opportunity for you to join us to help our clients solve their greatest development challenges. The World Bank (WB) is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions (IBRD, IDA, IFC, MIGA, and ICSID) dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development on a livable planet. 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.
The WB Finance & Accounting (WFA) Vice Presidency is responsible for all aspects of the financial reporting, internal control framework for IBRD and IDA, and the extensive Trust Fund/Partnership portfolio of the WB entities. It supports an appropriate fiduciary control framework and administering disbursements for Bank lending and leads the client service function for the WB’s corporate expenses.
Organizationally, WFA is comprised of three departments: (1) Corporate Accounting and Reporting, (2) Trust Funds and Loans, and (3) Financial Controls. In WFA, our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.
Within WFA, the Structured Finance Division (WFASF) is responsible for product control functions for financial instruments including borrowings, derivatives, and investments for IBRD, IDA and Trust Funds except for pension funds. These include financial instrument product aligned accounting, determination of the lending rate of the Bank, producing valuation for the IBRD/IDA bonds, derivatives, and loans, set-up of financial models and valuation review, market data sourcing and verification, implementing accounting policies around financial instruments, independent price verification, financial instrument related data management and providing disclosure information for financial statements regarding these financial instruments.
The current position is that of Financial Analyst in the borrowing group in Chennai (WFASC), which is an extension of the WFASF team in HQ.
The Financial Analyst will work as part of a team of professionals to meet the group’s responsibilities as they relate to the accounting and pricing / valuation of financial instruments, and implementation of various projects. Responsibilities will include the following:
Producing and reviewing valuations for financial instruments, utilizing systems and tools such as Numerix OneView, Murex, Summit, CrossAsset XL, etc.
Working knowledge of valuation related set up (master data, Interest rate curve, volatility curve, models) in systems such as Murex, Numerix OneView, Summit, CrossAsset XL, etc.
Analyzing and comparing WB valuations against corresponding counterparty valuations and other alternative information sources
Preparing and ensuring quality of calculated market data, evaluating data sources, and verifying data reliability for valuations of borrowings and loan portfolios
Verifying trade set-up and trade modifications
Working on computation of lending rate
Applying internal controls effectively and exercising due diligence in performing regular and ad hoc processes; exercising fiduciary responsibility by reviewing policies and procedures and ensuring they are correctly followed
Identifying, investigating, and resolving system-to-system reconciliation breaks and trade set up discrepancies
Developing expectations, performing analysis, preparing commentaries, suggesting, and implementing solutions in a proactive manner
Preparing various financial and management reports, as required by the department or other stakeholders
Coordinating with external and internal auditors, when required
Proactively interacting with WFA colleagues and Treasury (TRE) front office business units and other units as required to stay abreast of new / proposed activities that may have accounting, valuation or reporting implications
Proactively interacting with other financial institutions to ensure that practices adopted are in line with the market practice. Staying abreast of industry best practice as it relates to valuation / accounting of financial instruments.
Identifying opportunities for improvements in current processes, initiating improvements within the system and control framework; working with business and technology teams across locations to implement solutions / improvements.
Leading / participating in institutional projects, business initiatives and new product implementations, as and when required
Contributing to requirement specification, testing, implementation, and maintenance of systems supporting various portfolios
Maintaining and developing processes, procedures, documentation, and internal controls around portfolios handled, with the objective of increasing efficiency and accuracy
Mentoring and training junior staff and performing review of work done by such staff, as and when required.
Education and Experience:
Bachelor’s degree(s) in Engineering, Mathematics, Physics, Finance, and/or Economics and a minimum of 3 years’ relevant experience or equivalent combination of education and experience.
CFA/FRM and / or CA/CPA/ACCA/CGMA. Master’s degree(s) in Accounting, Finance, and/or Economics may be considered in lieu of CFA/FRM and / or CA/CPA/ACCA/CGMA
Professional experience with major financial institutions, with practical knowledge of product control functions (such as valuation and accounting) related to financial instruments
Technical Knowledge:
Deep knowledge of treasury products / financial instruments and derivatives (i.e., capital and money market instruments, particularly fixed income instruments) and their valuation methods
Working knowledge of Murex, Numerix OneView (including CrossAsset XL) and / or other valuation platforms
Working knowledge of Murex / Summit or other front-to-back treasury systems, and integrated financial systems such as SAP, SAP BI/BO reporting tools
Good understanding of market data requirements for capital / investment market transactions and knowledge of Bloomberg / Reuters
Proven quantitative and qualitative analytical skills, including excellent spreadsheet and skills. Familiarity with financial modeling techniques, programming languages (e.g., Python), writing macros will be a plus
Experience in supporting implementation of system applications / tools – preparing specifications, design analysis, testing, etc.
Ability to contribute to team performance with strong interpersonal and communication skills
High level of initiative, self-confidence, and a self-starter; proven problem-solving skills, ability to deliver high quality results and operates with minimum supervision
Proven capacity to deliver results and respond quickly and effectively to requests. Ability and desire to meet tight deadlines
Flexibility to perform a variety of tasks and expand the scope of work and responsibilities; committed to achieving individual and team results
Excellent verbal and written communication and presentation skill
