The IFC Controllers Department 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 Loan and Equity Operations units (CNTLO-EC) within the Controllers Department have overall responsibility for recording, servicing, and providing post-commitment support for the private sector loan, guarantee, short term finance products and programs, and the equity investments of the International Finance Corporation.
The CNTLO units provide financial operations support and services to the IFC Investment Departments, counterparts, internal and external financial and investment reporting units, syndication and treasury units, and portfolio management units, in the administration and management of all IFC Loan, Guarantee, Equity, and Donor-Trust Funds financial operations. The units ensure that loan and guarantee agreements, equity investments, and donor-trust-fund investments are recorded accurately and timely in the Corporation’s systems of record and general ledger. The units support all disbursements activities (e.g., call of funds, transfer of funds to clients, booking of disbursement data in systems of record) and all ongoing servicing functions over the life cycle of each investment, e.g. fee, interest and principal invoicing; repayment processing; specialized loan functions such as loan restructurings; equity sales and corporate actions.
The units play a key role in the decision-making for, and implementation of, IT systems and upgrades, as well as in the implementation of new initiatives and financial products to ensure that data is recorded accurately and timely.
Under a new initiative sponsored by the European Commission (EC), IFC is expanding its Small Loan Guarantee Program (SLGP-EC) to support banks and other local financial institutions. IFC will provide financial statement reporting services and associated operational accounting services to the EC in relation to the guarantees that the EC is providing to IFC.
A new team is being created within CNTLO which will be focused specifically on the accounting and financial statement reporting for SLGP-EC. The Financial Operations Analyst position, based in Washington DC, will be assigned to this team, and will work under the direct supervision of a Team Lead.
Duties & Responsibilities:
The successful candidate will be:
Responsible for proactively taking ownership and/or supporting various aspects of the SLGP-EC work program, including project management, technical accounting, metrics and controls, data mining and analysis, resource performance management, performance metrics, operational risk management, financial reporting, technology/automation development and knowledge/learning.
Expected to have adequate accounting knowledge for loan/equity/guarantee investments and strong interpersonal skills.
Supporting all activities encompassing the control and financial accounting for all IFC’s own and Donor Trust Fund Initiatives’ financial products relevant to the Loan and Equity operations.
Providing operational support on accounting transactions and accounting schemas to ensure integrity of reporting in Financial Statements.
Supporting implementation of accounting-related, large financial IT system impacting multiple user groups across multiple departments.
Supporting accounting of all IFC financial products related to the Loan and Equity operations and their related business events and accounting mapping to SAP.
Supporting preparation of customized Financial Statements for specific Donor Programs in a spreadsheet in case accounting systems like SAP are not able to support the customization.
Ensuring that technical accounting conclusions by the Investment Accounting unit for complex investment modification transactions are recorded accurately in the Loan system.
Working closely with Internal Controls and external auditors to ensure Controllers Department meets or exceeds all ICFR requirements. This includes articulating recommendations for new processes and relevant controls.
Providing operational support in the monthly, quarterly, and fiscal-year end closing process of the transaction processing systems.
Proactively interact with staff in the IFC Controllers Department to ensure an accurate and timely accounting of all IFC’s transactions.
Fiduciary responsibility in reviewing policies and procedures and ensure they are correctly followed.
Supporting the team lead in translating new initiatives or financial products into new processes and/or IT system requirements. This includes documenting approaches and processes, drafting Business Requirements Documents, test plan and end-to-end testing of systems.
Continually look for opportunities to improve processes and internal controls.
Supporting the analysis of loan and equity data to management and other units in the IFC.
Supporting the Team Lead in implementing and maintaining processes to identify, measure, monitor, mitigate, and report operational risk within the Loan and Equity team.
Working independently under the general direction of the Team Lead.
Working closely with internal and external partners for the implementation of SLGP-EC financial reporting solutions.
Selection Criteria:
Bachelor(s) degree in Accounting, Finance, or a related field. Master’s degree, CPA, CFA or equivalent is advantageous.
At least 3 years of relevant experience in accounting and pertaining to international financial instruments, loans and equity transactions, or equivalent combination of education and experience. Private sector and/or IFC experience a plus.
Working knowledge of one or more complex, highly integrated accounting systems, and financial reporting tools;
Understanding of accounting concepts and knowledge of IFC’s Financial Products, a plus.
Applied knowledge of operational risk characteristics including reporting and Key Risk Indicators (KRIs)
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 deadlines.
Ability to assist the development of IT projects, identify opportunities for automation and propose the right and sustainable solutions to improve operational efficiency;
Ability to provide recommendations to users and to challenge the status quo to deliver the right solutions;
Demonstrated track record in managing complexity, identifying interdependencies, and taking a corporate view;
Excellent verbal and written communication and presentation skills.
