Operational Accounting Lead Officer
As part of its mission, the IIC supports private sector and non-sovereign guaranteed (NSG) operations through financing in the form of loans, equity investments, and guarantees. The IIC also partners with clients to provide advisory and training services. In January 2016, the IDB Group consolidated its NSG operations in the IIC to better serve the region, clients and partners, and to maximize its development impact.
The Accounting Group is responsible for preparing the financial statements and other related internal and external financial reports for the IIC and other funds under its administration, establishing accounting policies and procedures, managing all accounting operations, as well as monitoring and ensuring that the accounting and financial reporting is in compliance with U.S. Generally Accepted Accounting Principles (GAAP). The Accounting Group's main functions are: Planning, directing and supervising the activities of the Accounting Group staff to ensure (1) the timely issuance of financial statements that are accurate, valid and comply with the IIC's accounting policies and U.S. GAAP, (2) that the accounting and reporting of all IIC transactions, including loans, investments, borrowings and derivatives, are in compliance with the IIC's accounting policies and U.S. GAAP, and (3) that the group's internal controls meet the requirements established by the IIC's internal control framework.
Leads the operational accounting functions of the IIC, reporting to the Head of Accounting and supervising a team of accountants.
Oversees processes and ensures accuracy of accounting and compliance with US GAAP for the IIC's financial instruments (liquid assets, borrowings, derivatives, equity investments and loans) as well as corporate accounting functions (fixed assets, administrative expenses, accounts payable and receivable). Ensures compliance with other professional guidelines and the IIC's internal control framework.
Oversees review, monitoring, and validation of valuation reporting for the IIC's financial instruments. This includes fair value measurement and provisioning for loan and equity investment losses.
Acts as a critical link between operational accounting and its internal and external clients. Assists business units in interpretation and application of accounting policies and procedures related to the operational accounting areas and related system considerations.
In charge of operational accounting assessment of new financial instruments and products and implementing and operationalizing accounting processes related to them.
Advises Management on and resolves complex accounting issues related to accounting operations and processes. Provides technical advice, delivers presentations and serves in interdepartmental working groups related to accounting operations as needed.
Leads the design, implementation, maintenance and control of financial systems and reporting platforms that support the activities of the accounting operations.
Oversees reconciliations between different subledgers and systems and ensures proper internal controls are in place related to operational accounting.
Leads the design and implementation of operational accounting processes and identifies opportunities for continuous improvements and automation resulting in operational excellence.
Oversees activities of the off-site accounting transactions Service Center and implements transition of additional processes to the Service Center.
Liaises with financial reporting team, accounting policy and external auditors.
Establishes goals, monitors performance, coaches team members and ensures timely feedback is provided to optimize performance.
Education: Master's degree in finance, business administration, accounting, or other relevant field, MBA, or equivalent degree required. Certification to practice public accounting is required. US CPA and/or CFA considered a plus.
Experience: 10+ years of relevant working experience including working in a multinational environment as well as in public accounting. Experience working in operational accounting required and should include accounting and reporting for financial instruments, such as borrowings, investments, derivatives, loans and/or other financing products; and internal controls experience. Good working knowledge of valuation of financial instruments and experience in fair value accounting and reporting. Experience with US GAAP required and experience with International Financial Reporting Standards (IFRS) will be considered an asset. Strong communication skills are necessary in order to effectively address internal and external client demands. Financial institutions experience, either directly or as an independent auditor, a must.
People Management: Professional and personal stature to lead technically strong teams; proven management track record is vital. Proven experience in similar positions, including broad experience at a similar level in coordinating multi-disciplinary teams is essential.
Systems: Proficiency in the use of MS Office package, Treasury management systems, loan management systems, and general ledger systems, as well as a solid understanding of the complexity of systems development phases (concept, design, development, implementation, production) and systems integration, in particular.
Languages: Proficiency in English and Spanish is required. Working knowledge of French and Portuguese is a plus. Strong Communication skills, including preparation and delivery of presentations to Management.
Financial Markets Knowledge: Understands financial markets dynamics, products and economics and their implications for accounting and financial reporting.
Accounting Theory: Understands and effectively applies accounting principles and rules to accounting transactions and uses knowledge to develop IIC accounting policies and practices.
Product Knowledge: Builds understanding of IIC projects and products, including how they are uniquely positioned for particular client segments, scenarios, financial or developmental needs.
Operational Excellence: Leads organization to create efficiency and optimize the deployment of resources; delivers products and services to IIC internal and external customers in the most cost-effective and efficient manner while maintaining high standards of quality.
Financial Report: Creates clear, concise, accurate and persuasive financial reports that lead to informed decisions and actions.
Operational Risk & Internal Controls: Assesses and manages risks associated with internal processes, systems and human factors.
Business Acumen: Applies knowledge of IIC business and market environment as well as financial principles to accomplish goals.
Audit: Understands audit processes and procedures and uses knowledge to plan and coordinate activities that support external and internal audits.
Quantitative Analysis: Uses analytical tools and mathematical processes to empirically analyze and evaluate data and information
Client Focus: Understands client needs and provides services that meet their expectations for quality and performance; meets the IIC's expectations for ethical behavior
Quality and Efficiency in All we do: Creates and/or implements standards of excellence for products and services ensuring consistency, accuracy, reliability and efficiency. Continuously seeks new ways of making processes run smoother and faster to enhance outcomes.
Innovation and Creativity: Develops imaginative ideas and solutions through creativity, experimentation and critical thinking
Communication, Influence and Accountability: Communicates effectively and leverages relationships and strategies to influence others.
Developing People and Teams to Deliver Results: Builds talent and capability inside the organization through coaching, mentoring, training, developmental assignments and knowledge sharing.
Promoting Diversity, Inclusion and Collaboration: Improves and ensures a diverse environment to actively working to build, coach and empower teams with diverse backgrounds (e.g. gender, ethnic origin, disability, sexual orientation, background, perspective).
The IIC offers a competitive benefits and compensation package.
The IIC is committed to diversity and inclusion and to providing equal opportunities in employment. We embrace diversity on the basis of gender, age, education, national origin, ethnic origin, race, disability, sexual orientation, religion, and HIV/AIDs status. We encourage women, Afro-descendants and persons of indigenous origins to apply.