Senior Finance Officer

World Bank Group, Washington DC, United States

Skill Required:, Finance and Accounts
Preferred Experience: 
7 to 10 Year
Closing Date for Applications: 
27th October, 2021

Job Description

Duties and Accountabilities

The Senior Finance Officer’s primary responsibilities will include, but are not limited to the following activities:

Client Services for Loan operations:

Country Focal Point:

  • Serve as focal point for internal and external client inquiries at the country level and escalate them as needed.
  • Provide country-related input to the Team Leads (TL) and the Manager to drive conversations with Country Management Units (CMUs) about country coordination within the assigned region.
  • Interact with Team Task Leaders (TTLs) to follow up on financing and disbursement-related issues arising in project preparation; contact CMU and borrowers to advise on new financial products, loan instruments that could benefit project preparation and facilitate resolution of portfolio disbursement bottlenecks; facilitate conversation between CMU and Ministry of Finance (MoF) on products and financial terms (whenever new product or service emerges, or financial terms change).
  • Participate in regular meetings of WFACS staff to share insights across countries, and promote knowledge-sharing.
  • Participate in country team meetings to provide advice on initiatives impacting disbursement-related issues at the portfolio level

Project Preparation:

  • For pipeline projects in assigned portfolio countries, provide support to task teams by reviewing project documents (including Concept Notes, Appraisal Documents, and legal agreements) and other sources of information (e.g. fiduciary assessments), providing timely inputs and raising issues, which may have an impact on disbursement arrangements, or are unclear, and escalate to management any issues that require management action or support.
  • Advise the task team on disbursement-related aspects of loans/credits/grants/TFs to ensure they are consistent with Bank policies and procedures and will adequately support project implementation with due regard for economy and efficiency.
  • Prepare disbursement and financial information letters (DFIL), loan repayment terms and amortization schedules, and participate in project preparation meetings including technical discussions and negotiations.
  • Review and clear project/program documents including, negotiation and board packages, in accordance with WFA standard procedures and applicable Bank policies.
  • Setting up of the loan financing terms and loan data in the system (iLAP).
  • Carry out the disbursement risk assessment of projects.
  • Carry out the responsibilities in compliance with WFA's control framework.
  • Design and deliver capacity-building training (e.g. Disbursement Trainings), in coordination with Finance Analyst (FNs) and Team Leads (TLs).
  • Deliver project preparation training and job shadowing initiatives for Finance Officers (FO) and Finance Analysts (FNs) to further develop FN’s ability to serve clients.
  • Conduct quality assurance on the work done by FNs and provide input into the performance appraisal of the FNs.

Project Implementation:

  • Manage highly complex Level 1 restructurings.
  • Advise and resolve complex implementation issues, including those that require coordination with other units such as INT, CMU, GP, FM or Procurement.
  • Provide advice on financial terms of products or disbursement related issues at country level, for example lapsed loans impacting advances.
  • Update the disbursement risk ratings in iLAP for all projects under her/his portfolio, as needed.


  • Participate in monthly meetings for FOs/FNs/Managers/TLs to generate and share insights across countries.
  • Serve as a solution provider for advice to internal clients and external on preparation and implementation issues in the assigned countries.
  • Partner with Legal, Financial Management and Procurement to provide cohesive approach to engaging with TTLs, and borrowers.
  • Appropriately handle other tasks that may be assigned by WFATL’s management.

WFACS Quality Assurance and Risk Management

  • Ensure that the Quality Assurance Review Framework and the Risk Management Framework of WFACS are up to date, to meet the business needs.
  • Participate in the application and implementation of the Quality Assurance Review Framework across regions.
  • Maintain the list of high risk/high complexity projects that are subject to quality assurance procedures (such as projects that are selected for the Regional Operations Committee [ROC] review), in collaboration with Regional Focal Points (RFPs) and FOs.
  • Prepare the final WFA comments for submission for high risk/high complexity projects in collaboration with the RFPs and FOs.
  • Identify the risks related to WFACS operations and activities, and coordinate with the related units to ensure adequate mitigation measures are in place.
  • Deliver training to less experienced FOs and FNs, as needed.
  • In liaison with the Manager and Senior Policy Officer, facilitate the development of WFACS Practice Notes, Guidance Notes and communications to staff on various disbursements-related thematic topics.

Corporate Initiatives

  • Lead special projects/initiatives assigned by the management, e.g. system development, simplification and automation initiatives, Multilateral Development Banks (MDBs) collaboration, analysis of country disbursement arrangement etc.
  • Lead training activities organized by other units (e.g. DFCII/trust funds, OPCS etc) in coordination with the department’s Senior Policy Officer.
  • Serve as a liaison between WFACS and other Units of the Bank on the recurring roles and functions such as: AML-CFT compliance; system enhancements; engagement with UN Agencies.

Selection Criteria

The candidate should meet the following criteria:

  • Minimum Education: Fully qualified as CPA, ACCA, CA, CFA or equivalent; and/or a Master's degree in Accounting, Finance or Business.
  • Work Experience: At least 8 years of relevant experience in portfolio management, project operations accounting, auditing and/or PFM.
  • Language Skills: Ability to communicate effectively, in writing and orally, in English. Ability to communicate effectively in other major language (French, Chinese, Spanish, etc.) is desirable.
  • Relevant knowledge of Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), internal controls procedures and financial management.
  • Knowledge and application of the Bank operational policies and procedures, including understanding the interaction between the Bank’s Operational Policies, Bank Procedures, Directives, and individual trust fund programs as they relate to disbursements.
  • Ability to exercise professional judgment and appropriately interpret and apply operational policies, as they relate to disbursements.
  • Knowledge of the Bank's IBRD and IDA lending products, pricing and choices of repayment terms.
  • Strong analytical and conceptual skills with demonstrated ability to interpret data, assess issues, develop sound conclusions, and formulate remedial measures.
  • Ability to manage complex tasks, deal with rapidly shifting priorities, provide professional support to senior staff and deliver against ambitious deadlines.
  • Capacity to work simultaneously, effectively and efficiently on a variety of diverse issues and tasks, independently adjusting priorities and achieving results with agreed objectives and deadlines.
  • Ability to operate effectively in a matrix management environment, with strong coordination with Team Leads.
  • Ability to manage complex negotiations
  •  Strong client focus including good interpersonal, diplomatic and team building skills required for building and maintaining collaborative relationships.
  • Willingness to travel on short-term assignments.


Recommend your friend

Copyrights 2017. All rights reserved | Technology Partner: Indev Consultancy Pvt. Ltd