Senior Financial Assistant

World Bank, Chennai, India

Skill Required:, Finance and Accounts
Preferred Experience: 
3 to 10 Years
Closing Date for Applications: 
24th October, 2017

Job Description


The World Bank is one of the world's largest sources of funding and knowledge for developing countries. The World Bank works in more than 100 developing economies to improve living standards and fight poverty.  For each client, the World Bank uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth, and improve quality of life.  The International Bank for Reconstruction and Development is the original member of the World Bank Group and is owned by 189 member countries whose views and interests are represented by a Board of Governors and a Washington, DC-based Board of Directors.  There are five World Bank Group institutions, each of which specialize in different aspects of development:  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 Settlement of Investment Disputes (ICSID).

The World Bank has twin goals of ending extreme poverty and promoting shared prosperity.  Its capacity to fulfill these goals is underpinned by a Treasury Vice Presidency (Treasury) that is widely recognized for its dynamic professionalism and its record of innovation in obtaining outperformance for its clients in all of the Treasury’s functions. 

Treasury is the Vice Presidency performing treasury functions for the IBRD and IDA and, to varying degrees, for other members of the World Bank. Its activities are organized and grouped into six departments: Capital Markets, Investment Management, Pension and Endowments, Quantitative Solutions and Analytics, Treasury Operations and, Financial Advisory and Banking. Treasury has been a large and significant player in the international financial markets for more than fifty years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager.

Treasury is responsible for: (i) managing approximately $150 billion in assets for the World Bank and other official-sector investors; (ii) leading the World Bank's triple-A rated financing program in international and domestic bond and derivatives markets; (iii) conducting asset and liability management for the World Bank's balance sheet; (iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and (v) collaborating with the World Bank member countries to help build their capacity. Staff in Treasury regularly interacts and collaborates with the other departments across the Bank and Finance Teams.

The Treasury Operations Department (TRO) provides a full range of support functions for Treasury’s asset management, capital markets and banking businesses. These include transactions settlements (approximately 25,000 individual transactions per month), cash management, foreign exchange, management of custody relationships and collateral management for Treasury’s extensive activities in the derivatives markets. Treasury Operations also provides accounting and financial reporting services to Treasury and its clients. For IBRD and other World Bank Group clients, this includes internal management reporting as well as “books and records” accounting, Financial Statement disclosures, and other required reporting. Treasury Operations also collaborates extensively with IBRD members seeking to build capacity in transaction processing and accounting associated with public-sector asset management. 

TRO is organized in four operational divisions following Treasury’s business line operations:  1) Banking & Pricing (TROBP); 2) Capital Markets (TROCM); 3) Fixed Income Asset Management (TROIM); and 4) Multi-Asset Class service (TROMC).  TRO staff is typically assigned to a particular business line/team and may be reassigned within TRO in response to other business priorities.  This structure enables the Department to take advantage of synergies between the respective functions and provides a diversified work program for staff.  It also represents a unique opportunity to be part of a dynamic team of finance and accounting professionals.

The pension portfolios consist of assets over $22 billion invested across a range of asset classes, from fixed income to public equities to private equity, real estate and hedge funds.  These investments are done on a global basis, mainly through outside managers.  Treasury Operations Multi-Asset Class Services unit (TROMC) under TRO is responsible for providing a full range of functions supporting these investment activities, including the following:  i) pension plan assets servicing, ii) preparation of pension plans financial statements, iii) pension investment performance and attribution, and iv) monitor exposures, liquidity and counterparty risks.

Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 year renewable term appointment

The World Bank Group is committed to achieving diversity in terms of race, gender, nationality, culture, and educational background.  Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence

Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 year term appointment.

Duties and Accountabilities:

  • Recording, analyzing and reporting daily capital calls and distribution notices of Private Equity (PE) & Real Estate (RE) funds in Investran;
  • Performing daily & monthly reconciliations of cash flows per Investran for PE/RE to corresponding records of the Custodian;
  • Investigating daily, monthly, quarterly and annual reconciliation differences, highlighting the same, performing analysis, and suggesting solutions in a pro-active manner;
  • Recording monthly and quarterly investor capital statements received from Fund managers in a timely manner;
  • Assisting headquarters in the year-end audit of the pension plans and the preparation of plan’s financial statements and footnotes with working papers;
  • Maintaining contact databases for hedge fund, private equity and real estate funds;
  • Preparing routine correspondence and promptly communicating with third parties. Managing the flow of information and monitoring/following-up on outstanding issues and deadlines;
  • Helping to ensure that all business processes in the unit are properly documented and complied with;
  • Actively taking part in a variety of tasks within a multi-asset class management business in the areas of treasury operations, accounting, management reporting, valuation control, and performance analytics; and
  • Assisting TROPO staff with ad-hoc tasks to ensure prompt delivery of daily, monthly, quarterly and year-end deliverables and reporting requirements.

Selection Criteria:

  • Bachelor’s degree in Accounting or Finance. Candidates with Master’s degree in Finance, Accounting or Business (MBA) and /or CA-inter / ICWA-inter would have an advantage.
  • At least 3 years of relevant work experience required in Fund Accounting. Hands-on knowledge on Sungard’s Investran, both Accounting & Reporting modules would be a plus.
  • Strong quantitative 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 (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.


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