The Chennai team (WFACC) of the Corporate Reporting and Analysis (WFACR) division contributes to the analysis of the financial results and the preparation of statutory and management reports of IBRD and IDA. WFACR also accounts for IBRD’s capital transactions, approval of IDA capital transactions, and corresponds with the member countries on queries related to capital transactions and balances.
WFACC is a dynamic team of accounting and finance professionals, which together with the team in Washington D.C., is responsible for all aspects of IBRD and IDA’s financial reporting. This includes quarterly/annual financial statements and management discussion and analyses, business unit accounting oversight responsibilities (loans, cash, borrowings, investments, trust funds, pension, and administrative expenses) including review and analysis of key metrices, monthly closing of IBRD and IDA’s ledgers, preparation and review of the monthly trial balances, and other ad hoc deliverables. The team also handles all aspects of IBRD’s capital accounting framework and the approval function of all IDA capital accounting transactions. The team’s roles and responsibilities provide a holistic understanding of the financial dynamics of IBRD and IDA, which places the team in a strong position to be able to assess the impact of market and institutional developments on the results of the two entities.
Duties:
Generally encompass core areas: Trial Balance close process, Capital Business processing, Management reporting, contributions to statutory financial reporting, Financial Analysis, Participate in multiple areas of responsibilities with duties in all areas.
Senior Financial Assistant will participate in the areas responsible for:
Maintaining the capital accounts for IBRD and IDA
Trial Balance closing of IBRD/IDA
Analyzing financial results and balances for reasonableness as part of oversight responsibilities
Contribution to preparation of internal and external financial statements / reports and other management reports for IBRD and IDA
Duties also include participation in WFA projects and preparation of ad-hoc financial analysis for management.
Examples of specific accountabilities:
Maintain the Financial ledgers for IBRD/ IDA capital; approving transactions relating to processing of capital, leading to generation of accounting for the same and monthly closing of books of IBRD/IDA capital;
Prepare communications with member countries;
Monthly Trial Balance close process for IBRD/IDA;
Prepare defined portions of quarterly and annual financial statements including Management Discussion & Analysis, Information Statements, Annual Report and Summary financial information;
Preparation of Management reports on a monthly basis and support ad hoc information requests
Participation in the implementation of new features or enhancements to existing accounting systems;
Documentation and maintenance of processes, controls and checks for financial reporting;
Regularly share key information on processes, timelines, status, responsibilities, expectations and potential problems with supervisors and team members and seek their input; and
Performing other responsibilities assigned from time to time.
Selection Criteria:
Qualified Chartered Accountant. Bachelors degree in a related field, advanced degree will be a plus;
Basic knowledge of financial instruments and financial markets;
Candidates with 0-1 year of post-qualification experience in similar or complementary roles
Full proficiency in Microsoft Windows applications, namely Excel, Word and Power Point. Demonstrated ability to learn new technology quickly and effectively use it for maximum productivity. Knowledge of SAP will be an advantage;
Excellent analytical skills. The ability to develop and apply methodologies to test and explain changes in financial trends and results using computer assisted techniques;
Strong interpersonal skills and cultural sensitivity;
Comfortable working in pressured environment with capacity to deliver high-quality outputs and results to tight deadlines;
Ability to multitask and work effectively in multidisciplinary teams; and
High degree of self-motivation and proven ability to work under minimum supervision and as part of a team
