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 120 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.
Treasury is the Vice Presidency, reporting to the Managing Director and World Bank Group Chief Financial Officer, performing treasury functions for the IBRD and IDA and, to varying degrees, for other members of the World Bank Group and other public sector investors. Its activities are organized and grouped into the following departments: Capital Markets & Investment Management, Client Asset Management and Advisory, Treasury Client Solutions and Treasury Operations.
Treasury has been a large and significant player in the international financial markets for over seventy years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager. Treasury is responsible for:
- managing approximately $185 billion in assets for the World Bank and other official sector investors;
- leading IBRD’s and IDA’s triple-A rated financing programs in international and domestic bond and derivative markets;
- conducting asset and liability management for IBRD’s and IDA’s balance sheets;
- overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and
- collaborating with the World Bank member countries to help build their capacity. Staff in Treasury regularly interact and collaborate with other Departments across the Bank and Finance Partners teams.
Treasury Operations is the Department (TRO) which provides a full range of middle and back office support for Treasury’s asset management, capital markets and banking functions. The Department is presently organized in three operational units: Capital Markets Operations (TROCM), Fixed Income Asset Management Operations (TROIM), and Cash and Banking Operations (TROBK), having recently separated a fourth unit - the Pension-related Multi-Asset Class Services unit - as part of a reorganization which is currently underway. Further reorganization-related goals include merging Treasury’s Quantitative Analytics unit into the Department and merging the Performance and Guideline Monitoring team into it, establishing a TRE Technology Coordination function, and combining TROIM and TROCM units into a single new team.
Duties and Accountabilities:
The TRO Chennai Operations is an integral part of TRO and is responsible for a variety of duties providing vital support across its operational divisions. It works closely with the Headquarters in Washington D.C. Under the guidance and supervision of a Team Leader and/or Functional Lead, the Senior Financial Assistant will have responsibilities for specific individual tasks/projects as well as for working as an integral part of the team in executing TRO’s work program, while maintaining close relationships with the other Treasury departments.
His/her primary responsibilities will include, but are not limited to, some combination of the following activities to support any of the business lines in TRO’s operational division:
- Perform investigations to handle queries and resolve issues related to corporate cash payments and receipts in the case management tool relating to unidentified cash receipts, payments that do not reach their intended beneficiary and responding to compliance and sanctions related alerts and queries.
- Identify trends and patterns, prepare commentaries on results / findings, and recommend solutions in a pro-active manner with regard to cash payment and receipt investigation;
- Perform daily reconciliation of cash transactions (in several currencies) thus ensuring transactions related to corporate cash processed by cash management team are settled correctly, and any exceptions are investigated and resolved.
- Contact external banks through SWIFT correspondence messages for payments and receipts;
- Investigate and report daily cash overdrafts and long balances in relation to external cash balances;
- Assist in the month-end close process for cash including preparation of reports and necessary adjustments needed to ensure accuracy of data and balances that are sent to general ledger system (SAP);
- Assist in the prompt delivery of daily, monthly, quarterly and year-end deliverables and reporting requirements;
- Ensure that all business processes in the unit are properly documented and complied with;
- Participate in Treasury Operation’s projects and business initiatives;
- Effectively communicate with TRO staff and Management both in Chennai and in Washington, D.C. Headquarters on the status of all assigned activities.
- Bachelor’s Degree in Commerce, Accounting or Finance. Candidates with post-graduate degree in Finance, CA-Inter or ICWA – Inter would have an advantage.
- 3 to 4 years of post-qualification experience on payments investigation, reconciliation and with systems that support case management and the processes and controls related to banking transactions processing.
- Knowledge of SWIFT, Payments & Clearing Systems and understanding about monthly book closing is highly desirable.
- Ability to deal with various third parties such as counterparties, custodians, etc. to obtain information.
- Strong quantitative and qualitative analytical skills, including excellent spreadsheet skills. Familiarity with writing macros will be a plus.
- Demonstrated ability to learn new technology quickly and effectively for maximum productivity.
- Excellent communication and presentation skills – both verbal and written.
- High level of initiative, self-confidence and a self-starter; ability to apply a practical matured approach to problem solving with minimum supervision.
- Commitment to work in a respectful, team-oriented and multi-cultural environment.
- Flexibility to overlap with U.S. hours will be required to meet reporting deadlines along with willingness to travel to Washington DC for training and team projects.
- Highest ethical standards.
- Financial Market Literacy - Can understand financial market processes; reads and analyzes financial reports and data such as holdings, valuation, performance, compliance, account reconciliations, position, margin, and settlement and risk reports.
- Client Services (TRO) - Contributes successfully to on-site missions or workshops for Treasury clients.
- Process and Infrastructure Development - Makes recommendations to improve efficiency of the accounting, business risk or operations process.
- Operational Risk and Control - Understands the basic concepts of risk management and internal control frameworks.
- Treasury Operations - Adept or expert in processing a suite of transactions such as bonds, FX, or structured transactions, or managing country or transactional bank accounts and reference data.
- Client Orientation - Able to establish partnership based working relationships with internal/external clients. Demonstrates independence, initiative, and autonomy in addressing clients' needs.
- Drive for Results - Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results, and has the personal organization to do so.
- Teamwork (Collaboration) and Inclusion - Collaborates with other team members and contributes productively to the team's work and output, demonstrating respect for different points of view.
- Knowledge, Learning and Communication - Able to research and draft quality written materials or review adherence of written materials prepared by others to administrative requirements. Able to mentor and guide, and organize learning activities within area of assigned responsibilities.
- Business Judgment and Analytical Decision Making - Able to use analytical, problem-solving skills and resourcefulness to make informed and practical decisions to carry out own work. Able to advice on information usage and storage, and policies in the area of assigned responsibilities.
Poverty has no borders, neither does excellence. We succeed because of our differences and we continuously search for qualified individuals with diverse backgrounds from around the globe.