Senior Financial Assistant

The World Bank, Chennai, India

Skill Required:, Finance and Accounts
Preferred Experience: 
2 years of relevant work experience
Closing Date for Applications: 
14th December, 2018


Job Description

The World Bank Group (WBG), comprising 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 Center for Settlement of Investment Disputes (ICSID), is one of the world’s largest source of funding and knowledge development solutions. Its five institutions share a commitment to reduce poverty, increase shared prosperity, and promote sustainable development. WBG is governed by several member countries and delivers services out of 120 offices with more than 16,000 staff located globally.

The Treasury Support Operations Division (CNTTR) within IFC provides back-office and accounting services for all IFC Treasury activities. The team is additionally responsible for processing all IFC cash transactions, monitoring and approving the advisory fees and reimbursable expenses of the Investment Departments.  CNTTR also provides operational support in the development of new business initiatives and products.  The team responsible for CNTTR’s work program is co-located in Washington DC (HQ) and WBG’s Chennai Office. The team located in WBG’s Chennai office provides support and interacts with IFC colleagues based in Washington DC (HQ) on a day–to–day basis.

The current position is that of a Senior Financial Assistant in the IFC Treasury Support Operations unit in Chennai (WFATC). This is a technically specialized position that will support processing operations of Treasury transactions, including bonds, derivatives, etc. The position requires working knowledge of treasury products, and relevant accounting standards, as well as proficiency in handling multiple systems, including Summit (the front-to-back treasury system), payment processing systems, etc. The selected candidate will be required to work with various team functions and become a fully functional team member within a short time-frame. The position requires the ability to establish productive relationships with staff at all levels within the team and across various units of IFC. The incumbent will be supervised by the Financial Operations Officer in WFATC, Chennai. The staff should be open to flexible hours and follow the HQ holiday calendar, as the work program involves dealing with global markets.

  • Roles & Responsibilities:

The Senior Financial Assistant will work as part of a team of professionals to meet the group’s responsibilities as they relate to delivery of back-office functions for all IFC Treasury funding and liquid assets management activities.  Responsibilities will include the following:

  • Assist in timely and accurate Cash Reconciliation and settlement activities for all IFC bank accounts
  • Assist in timely investigation and reporting of unidentified/unapplied items, non-receipts/non-payments and compensation claims to all stakeholders
  • Assist in month/quarter/year end closure of cash application
  • Assist in validating and processing of settlement and payment activities of new and existing transactions. This task involves interfacing with the market counterparts, custodians, banks and other partners to confirm transactions, settlement flows and perform other trade servicing, analysis, reconciliation and troubleshooting activities
  • Prepare and process a suite of SWIFT messages that support Treasury transactions
  • Participate in testing and implementation of new/enhanced systems and processes
  • Ensure that all business processes in the unit are properly documented and complied with
  • Carry out and/or participate in any other ad hoc tasks as may be assigned by the Team Lead
  • Communicate effectively with IFC Treasury Support Staff and management both in Chennai and in Washington, D.C. headquarters on the status of all assigned activities.
  • Continually look for opportunities to improve processes and internal controls.  Be responsible for promoting controls and ensuring compliance.

Selection Criteria

  • Bachelor’s or Master’s degree preferably with a major in business administration, accounting, finance, or international trade. Professional finance / accounting qualification such as CA/CPA/ACCA/CFA/FRM would be preferred
  • Minimum of 2-3 years of experience in related fields with a public / private financial institution (including IFC/IBRD) or the finance / treasury function of a public / private corporation.  Proven track record in previous position

Core Technical Knowledge:

  • Good knowledge of treasury products / financial instruments and processing experience
  • Good knowledge of Cash reconciliation and Settlement processes
  • Good knowledge of Summit treasury system Quantum cash system would be a distinct advantage
  • Knowledge of SWIFT and other settlement systems
  • Ability to contribute to team performance with strong interpersonal and communication skills
  • A positive and self-starter attitude (motivation, drive, initiative); and ability to work in a team-oriented, and multi-cultural environment
  • Fluency in written and spoken English required

Competencies:

  • Deliver Results for Clients:  Takes full ownership to address client needs. Demonstrates initiative, independence and autonomy in addressing client needs in changing business contexts and environments. Has knowledge of department strategy, vision, and goals and can link them to those of the larger organization. Allocates and prioritizes resources according to areas of most urgent need and greatest impact for the client.
  • Collaborate Within Teams and Across Boundaries: Contributes to wider collaborative efforts. Adopts a collaborative approach to improve overall effectiveness outside one's department and displays an open helpful attitude toward others. Approaches conflicts as common problems to be solved. Demonstrates understanding of and acts to incorporate multiple perspectives. Frames thinking/actions with a WBG corporate perspective in mind.
  • Lead and Innovate: Initiates changes to work processes to improve efficiency and performance. Applies creativity, flexibility and persistence to develop new approaches. Considers own behavior in context of WBG's values and mission and recognizes impact on others. Frames problems and recommends solutions.
  • Create, Apply, and Share Knowledge: Actively promotes knowledge-sharing. Takes ownership for organization of knowledge-sharing and learning activities. Contributes to the knowledge of the work group and beyond. Uses feedback to develop self and mentor others. Builds personal and professional networks within and beyond the work group.
  • Make Smart Decisions: Analyzes data to support and enable decision-making. Anticipates, researches, reviews, and analyzes available data and relevant empirical evidence, including lessons learned. Understands risk and can provide basic assessment using cost-benefit analysis. Uses critical thinking and good judgment to make decisions. Supports decisions, takes action and ensures appropriate follow-up actions are taken.
  • Client Understanding and Advising: Looks at issues from the client's perspective and takes action beyond normal expectations to ensure client satisfaction. Analyzes situations and determines alternative or creative scenarios and approaches to add value to the business in new and different ways. Works within the team and with other specialty areas to define client needs and develop the best approach to meet client needs. Sees how ideas and best practices from other specialties can be adapted or applied to address client issues
  • Broad Business Thinking: Keeps informed on business operations. Inquires about the relationship of delivered support/services to the business as it pertains to assigned area of responsibility and related projects. Seeks out relevant information related to clients from available sources including supervisors, peers, clients, intranet/Internet, and documentation. Provides a business-based rationale for determining the necessity of incremental improvements and communicates viewpoint using the client's own terminology with limited jargon
  • Project Management: Sets personal objectives and goals and manages use of own time. Works towards accomplishing own daily, weekly and annual objectives. Learns from mistakes, and adjusts goals and courses of action to meet changing needs. Sets priorities for his/her work in order to stay on top of the workload and tackle the most important issues first. Considers work/project timelines and the time it takes to get things done. Sets priorities, properly plans, keeps track of activities completed and in progress, and keeps clear, detailed records of activities related to accomplishing stated objectives, arrangements, etc.
  • Analytical Thinking: Gathers and links data. Reviews for non-conformity and gathers further information in response to problems. Collates and reports information. Identifies direct cause-and effect relationships. Identifies trends and exceptions. Investigates to define problems more accurately. When looking at information, sees patterns, trends, or missing pieces. Recognizes when a current situation is similar to a past situation. Will accept other solutions when conventional methodology does not work. Makes ideas or situations clear, simple, and/or understandable. Assembles ideas, issues, and observations into a clear and useful explanation. Restates and/or interprets existing observations or knowledge in a simpler fashion. Is prepared to look beyond the data for solutions.
  • Policies and Procedures: Exhibit working knowledge of policies and procedures applicable to carrying out daily responsibilities. Abide by relevant policies and procedures in completing various tasks. Demonstrates knowledge of the most used policies and procedures and applies them when situation is clear and lacks problems. Can exercise independent judgement regarding relevant policies and procedures
  • Risks and Controls: Demonstrate understanding of key risks and internal control procedures in the related processes. Able to identify key risks and mitigating control steps in own functional areas. Perform internal control procedures in compliance with the overall risk and control framework. Takes proactive measures to know the internal control procedures
  • Information Technology and Systems: Exhibit working knowledge of key information technology and main systems in own function areas. Effectively utilize such technologies and systems to successfully carry out work programs.

Communication: Utilize appropriate tools and techniques to explain technical information in plain language. Present information in a logical and organized manner both in speech and in writing. Writes effective correspondence, prepares questions and reports, statements of circumstance and briefing notes.

Source:https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=1335&site=1


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