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.
The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group's funded benefit plans, including the retirement scheme - the Staff Retirement Plan, the retiree medical and life insurance programs - the Retired Staff Benefits Plan, and other ancillary benefits. The financial management includes asset management responsibilities and actuarial support. PEN manages about $30 billion US dollars invested across a range of asset classes, from fixed income to public equities to private equity, real assets and absolute return strategies. The Pension Finance Committee, appointed by the Bank Group President and chaired by the Chief Financial Officer, has oversight responsibility for the financial management of the plans. PEN’s responsibilities also include the delivery of technical assistance on multi- asset class investment management to pension plans, endowments and funds for the future, and the management of the Pension Administration function. PEN identifies, selects, evaluates, and monitors investments, mainly through outside managers, on a global basis.
The Pension Middle Office team (PENMO) under PEN is responsible for providing a full range of functions supporting these investment activities, including the following: i) pension plan operational activities, ii) preparation of pension plans financial statements, iii) pension investment performance and attribution, iv) monitoring asset class exposures, v) all investment asset pricing and valuation, and vi) third-party clients’ reporting.
Duties and Accountabilities:
- Perform daily & monthly reconciliations of cash flows per Investran for Private Markets to corresponding records of the Custodian;
- Investigate daily, monthly, quarterly and annual flow and valuation reconciliation differences, and highlight the same, perform analysis, and suggest solutions in a pro-active manner;
- Coordinate preparation, reconciliation and reviews of quarterly reporting packages for private asset classes;
- Assist in recording, analyzing and reporting daily capital calls and distribution notices of Private Equity (PE), Real Estate (RE) and Long-Term Credit (LTC) funds in Investran when needed;
- Prepare routine correspondence and promptly communicating with custodians, vendors, brokers and internal teams;
- Help ensure that all business processes in the unit are properly documented and complied with;
- Drive and support automation initiatives and initiatives on data structuring and management and maximizing efficiency.
- Assist team members with ad-hoc tasks to ensure prompt delivery of daily, monthly, quarterly and year-end deliverables and reporting requirements in the areas of operations, accounting, management reporting, valuation control, and performance analytics.
- Bachelor’s degree in Accounting/Finance/Mathematics/Statistics with at least 5 years relevant work experience in fund accounting/finance. Candidates with Master’s degree in Finance/Accounting/Mathematics and Statistics or CPA/CA Intermediate/Business (MBA) and at least 3 years relevant experience in fund accounting/finance will be an advantage.
- Knowledge of python, database and visualization tools and hands-on knowledge on Sungard’s Investran, both Accounting & Reporting modules would be a plus.
- Strong quantitative and 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.
- Ability to deal with various third parties such as custodians, fund administrators, investment managers, general partners, etc. to obtain information.
- 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. Willingness to travel to Washington DC for training and team projects, if required.
- 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 - Contributes successfully to on-site missions or workshops for PEN 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.
- 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.