About the World Bank Group:

Established in 1944, the WBG is one of the world’s largest sources of funding and knowledge for development solutions. In fiscal year 2018, the WBG committed $67 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $24 billion was concessional finance to its poorest members. It is governed by 188-member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.

The WBG consists of five specialized institutions: 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 Centre for the Settlement of Investment Disputes (ICSID). The World Bank is organized into six client-facing Regional Vice-Presidencies, several corporate functions and thirteen Global Practices to bring best-in-class knowledge and solutions to regional and country clients.

The World Bank Group Finance and Accounting (WFA), one of the vice presidencies in the World Bank Group (WBG), is responsible for all aspects of the financial reporting and 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. The vice presidency is also responsible for expressing a Finance viewpoint on controls over Bank Group operations, particularly those which validate the appropriateness of loan disbursements. 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 170 are in WBG’s Washington, D.C. headquarters with the remainder in regional offices including the largest in Chennai, India.

Unit Overview:

WFA’s Accounting Business Services Division (WFAAB), part of the Financial Controls Department, is responsible for recording and reporting the World Bank Group’s administrative expenses and fixed assets, which have a combined financial statement value of approximately $5 billion. WFAAB also provides strategic leadership and guidance to business units across the Bank Group on developing and maintaining an effective system of internal controls over processing and reporting administrative expenses.

The Assurance and Client Support unit (WFAAC) is in Chennai, India, and functionally reports to WFAAB. The team supports WBG staff and travelers in accounting and compliance activities through training, reviews and help desk operations. The team monitors compliance to internal controls over administrative expense disbursements and report on compliance to the Bank policies & Trust Fund conditions, leading to performance measurement and system / process improvement.

Travel and Quality Assurance function within WFAAC is heavily involved in implementation of Global Travel Corporate Card (GTC) for the entire Bank group. This solution will cover 74 countries, 88% of WBG staff, 92% of travel spend and is expected to bring benefit in terms of reduction of administrative effort, risk of cash handling, enhanced staff experience, optimum rebate earnings and tax savings.

• GTC activities include support for rollout of the initiative for both the central card and individual card across the globe, invoice processing, reconciliation, and monitoring & reporting activities.
• Travel Accounting functions ensure compliance with WBG travel policies and procedures by guiding Bank staff in accounting of travel expenses, and reviewing trips of the WBG, approving spouse trips and periodic monitoring of outstanding travel advances.
• Quality Assurance Program of the unit provides managers with an appropriate basis to make their annual assertions regarding the effectiveness of the controls implemented by their respective units over the administrative expense processes. It involves robust and systematic year-round review of administrative expenses and Bank-executed trust funds within the context outlined in the Controls Guide.

There are 2 open positions. This remains a competitive process and interested candidates are encouraged to apply.

Duties and Accountabilities:

• Establish and maintain accounting practices to ensure accurate and reliable data necessary for business operations. Conduct reviews of the World Bank group’s administrative expense transactions (both travel and staff & other admin expenses related) to verify accuracy of records, compliance with Bank’s policies and procedures.
• Participate in the user testing and implementation of any new systems including GTC, applications, tools and reports for the team, to enhance efficiency, effectiveness and standardization.
• Processing of invoices, reconciliation, following up for missing information, fixing of issues and ensuring prompt payment to vendors.
• Conduct reviews of Pcards and Event cards.
• Follow-up with the units on appropriate and timely submission of documentation for review.
• Compile review findings and recommend follow-up actions to the units and the management.
• Preparation of MIS on a periodical basis and support the QA program activities and provide assistance in meeting any ad-hoc requirements.
• Identification of problems and areas of possible improvements and development of constructive recommendations for improvements in effectiveness and efficiency and internal controls over the activities reviewed.

Selection Criteria

• Bachelor’s degree in accounting with at least 03 years of work experience; OR ICWAI (Qualified) OR CA Inter (Qualified) OR Master’s degree in Finance/Accounting
• Strong conceptual skills and ability to interpret data, assess issues, develop sound conclusions, and formulate remedial measures.
• Experience with SAP enterprise resource planning system is desirable, but not required.
• Exposure to other systems like People soft, and proficiency in Microsoft windows applications viz, Excel, word, power point would be an added advantage. A proven track record of problem solving skills in an automated accounting environment
• Excellent judgment, very good written and oral communications skills (including ability to write clear, concise and complete procedure); ability to carry out a multi-dimensional, multi-functional work program.
• Exhibit a personality that enables the incumbent to be client focused, flexible and an excellent team player. Ability to effectively work with various levels of staff with-in the department and across the Institution.
• Self-motivated person with high degree of initiative and a strong team player.

Source:https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=1553&site=1