Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 130 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 World Bank Group Finance and Accounting (WFA) Vice Presidency Unit is responsible for all aspects of financial reporting and the 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. WFA also leads the client shared service function for the WBG corporate expenses and WBG trust funds, ensures fiduciary responsibility for all disbursements related to Bank operations.
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 approximately 170 are in Washington, D.C., with the remainder in regional offices including the largest in Chennai, India.
The WBG Trust Fund and Loan Operations Department (WFATL) in WFA provides a number of financial operation activities, notably financial services, compliance, disbursements, accounting, reporting, and analytics for IBRD/IDA loans and Trust Funds.
WFAAS, a division within WFATL is focused on supporting both the WBG’s Trust Funds and Loans portfolios, for example, providing advice on the design and implementation of new trust funds or loans, policies, or processes, as well as many activities associated with the implementation and closure of loans or trust funds, including account creation and maintenance, disbursement transactions, trust funds and loans accounting and reporting and helpdesk functions.
WFAAS division operates out of three locations – DC, Chennai and Manila. The team in Chennai and Manila (WFALF and WFALM), comprise three sub-teams viz., (i)Trust funds accounting clearance and Fiduciary & Controls team (ii) Trust Funds accounting and reporting, and (iii) Loan accounting and reporting. Together, the Division provides end-to-end support for IBRD/IDA Loans and WBG Trust Funds, in terms of,
This is an advertisement for a Financial Officer, in the Loans accounting and reporting team in Chennai (WFALF). This position reports to the Senior Team Lead in Chennai. The Financial Officer administers accounting and financial reporting operations and takes the lead in representing the Division on all loans accounting and control related aspects, including review and oversight of accounting processes, accounting and loan policies and arrangements within their assigned area. The Financial officer is responsible for leading a team of approx. 6 staff currently, with an appropriate mix of accounting analysts (GE grade) and accounting assistants (GD grade).
Duties and Responsibilities:
The Financial Officer’s primary responsibilities will include, but not limited to, a combination of the following activities: