Financial Officer

World Bank, Chennai, India

Skill Required:, Finance and Accounts
Preferred Experience: 
7 to 10 Year
Closing Date for Applications: 
22nd September, 2019


Job Description

Description

The World Bank Group (WBG), comprising 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 Center for Settlement of Investment Disputes (ICSID), is one of the world’s largest source of funding and knowledge development solutions. Its five institutions share a commitment to reduce poverty, increase shared prosperity, and promote sustainable development. WBG is governed by several member countries and delivers services out of 120 offices with more than 16,000 staff located globally.

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, it uses capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY19, IFC made $8.9 billion in long-term investments from its own account and mobilized $10.2 billion from other investors, totaling over $19.1 billion in long-term investments. These investments supported 269 long-term finance projects in developing countries. In addition, IFC extended $4.5 billion in short-term trade finance, with more than half ($2.5 billion) in IDA / Fragile and Conflict Affected

The Controllers Department (CNT) in IFC’s Risk and Financial Sustainability VPU is responsible for internal and external financial reporting, transaction processing and the internal control framework for IFC. The Controllers Department comprises approximately 100 diverse and highly skilled staff, of which 70 are based in Washington DC with the remaining 30 staff providing cross-support to IFC located in Chennai, India.

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 team is involved in a host of different 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 ASU (accounting standard updates), the CECL project, 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.

CNTFS is seeking a qualified Financial Officer to lead the Chennai-based WFAFS team, providing support to all functions described above, including the preparation of management reporting analytics, alignment of accounting results with financial / management reporting, creation of efficiencies through automation and streamlining of deliverables, and assuring IT system development projects are under budget and comply with business requirements and needed governance framework(s).

This position reports functionally to the Principal Financial Officer of the CNTFS team in HQ. The successful candidate is expected to be current with accounting developments and proactive in responding to the rapidly changing accounting and business environment. His/her work products are expected to be technically sound, timely and results-driven. He/she is expected to be a Team Lead, who can supervise and guide WFAFS team members based in Chennai to identify and resolve issues pertaining to day-to-day work program activities, as well as drive projects through to completion. Also, the selected individual is expected to lead the team and ensure delivery of the work program under the general direction of the Senior Lead from WFA Chennai.

  • Review and analysis of investment profitability information for IFC’s monthly/quarterly operational, financial and management reports to the Board, IFC & WBG senior management, including reports on department-/ sector- and region-wise profit & loss reports, profitability KPIs etc.
  • Lead efforts in the development, streamlining, automation and coordination of IFC’s operational, financial and management reports.
  • Guide the team to carry out quality assurance of 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.
  • Lead efforts to perform ad hoc analysis with database management and reporting / visualization tool like Tableau/Business Objects for management / other stakeholders
  • Participate / Lead (wherever required) in the implementation of new features or enhancements to various operational and finance systems of IFC; Participate in project team meetings and prepare / review business requirement documents, design analysis documents, test scenarios and change management plans etc.
  • Perform / supervise testing at various stages of systems development including user acceptance testing, integration testing etc.
  • Documentation and maintenance of process flow charts with business process management tool or, procedure manuals etc.
  • Guide the team to support user training needs by developing training materials and handling user queries post implementation, where applicable.
  • Regularly share key information on processes, timelines, status, responsibilities, expectations and potential problems with supervisors and senior team members and seek their input.
  • Undertake ad hoc projects and special assignments as needed.
  • Supervision of WFAFS team members, including performance management; providing timely feedback, coaching, and mentoring support to the team to achieve desired outcomes

Selection Criteria:

  • Master’s degree in business, finance, accounting, systems or related fields. CPA/CA/ACCA/CGMA or equivalent professional qualification is required.
  • Minimum of 8 years’ relevant professional experience in similar or complementary roles.
  • Knowledge and experience in accounting and financial and/or management reporting, with a strong understanding of US GAAP and its effect on financial metrics / ratios.
  • Deep understanding of IFC operations, including business lines and financial products.
  • Experience performing reconciliations and analysis, proficient in working with large data volumes and diligent in documenting workflows.
  • Understanding of 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 and Excel VBA skills.
  • Ability to produce quality work with a high degree of accuracy, handle changes in priorities, coordinate work on multiple tasks and work seamlessly with teams in different time-zones.
  • Excellent writing, reporting and editing skills in English, with an ability to convey complex ideas clearly and succinctly.\

Source:https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=4216&site=1


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