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The World Bank Group Finance & Accounting (WFA) Vice Presidential Unit is responsible for all aspects of the financial reporting and internal control framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the extensive Trust Fund/Partnership portfolio of these entities. WFA also leads the client shared service function for the WBG corporate expenses and WBG trust funds, ensures fiduciary responsibility for all disbursements related to Bank operations.
Located within the WBG Corporate Accounting & Reporting Department (WFACA), the Structured Finance Division (WFASF) is responsible for product control functions for financial instruments, including borrowings and investments as utilized by IBRD, IDA, MIGA and Trust Funds for their operations, except for pension funds. These include financial instrument product aligned accounting, set-up of financial models and valuation review, market data sourcing and verification, implementing accounting policies around financial instruments, independent price verification for investments, financial instrument related data management, exercising internal controls to ensure accuracy of accounting ledgers and financial statements regarding these financial instruments. In addition, WFASF team is involved in a host of critical institutional projects and initiatives that seek to enhance WB’s ability to capture and integrate data from different sources into, accounting, valuation and reporting systems and ultimately enable analysis that serves financial and / or management reporting needs.
The current position is that of Financial Analyst in the borrowing group in Chennai (WFASC), which is an extension of the WFASF team in HQ.
Duties & Accountabilities:
- The Financial Analyst will work as part of a team of professionals to meet the unit’s responsibilities as they relate to the accounting and pricing / valuation of financial instruments and implementation of various institutional projects. Responsibilities will include the following:
- Ensure the accuracy and appropriateness of accounting entries and perform daily / weekly / monthly control activities for the Capital Markets’ portfolios
- Identify, investigate, and resolve system-to-system reconciliation and accounting flow breaks
- Monitor and analyze accounting results as they relate to the Capital Markets’ portfolios, to ensure they are consistent with expectations and business objectives or deviations (if any) are justified and adequately documented. This would include the establishment of exception and monitoring reports and review and investigation of the same.
- Verify trade set-up and trade modifications
- Preparation and quality assurance of calculated market data, evaluation of data sources, and verification of the data reliability
- Apply internal controls effectively and exercise due diligence in performing regular and ad hoc processes; Exercise fiduciary responsibility by reviewing policies and procedures and ensuring they are correctly followed
- Develop expectations, perform analysis, prepare, and present sign-off commentaries, suggest, and implement solutions in a pro-active manner
- Prepare and analyze allocation of debt funding to loan pools and computation of cost pass through rates for Bank lending products
- Prepare various financial and management reports, as required by the department or other stakeholders
- Lead / participate in institutional projects, business initiatives and new product implementations, as and when required
- Contribute to analysis and implementation (process and system changes) of new initiatives, projects, or financial products. This would include performing requirement (business specifications) gathering and documentation, design review and analysis, user acceptance testing, implementation and maintenance of systems supporting various portfolios.
- Participate in project team meetings and providing timely and accurate updates on progress of work and issues encountered, if any
- Collaborate with business and information technology teams across locations to address system issues and implement solutions promptly
- Proactively interact with World Bank Treasury (TRE) front office business units to stay abreast of new/proposed activities that may have accounting or reporting implications
- Provide services to clients within and outside the Bank by providing financial information, training programs and related materials
- Coordinate with / support external and internal auditors, when required
- Stay abreast of accounting pronouncements and industry best practices as they relate to accounting / pricing of financial instruments.
- Continually look for opportunities to improve processes and internal controls. Be responsible for promoting controls and ensuring compliance in WFA.
- Maintain and develop processes, procedures, documentation, and internal controls around portfolios handled, with the objective of increasing efficiency and accuracy
- Mentor / train junior staff and perform review of work done by such staff, as and when required
Education and Experience:
- Bachelor’s degree(s) in Accounting, Finance, and/or Economics and a minimum of 3 years’ relevant experience or equivalent combination of education and experience.
- CA/CPA/ACCA/CGMA and/or FRM/CFA. Master’s degree(s) in Accounting, Finance, and/or Economics may be considered in lieu of CPA/CA/ACCA/CGMA and/or FRM/CFA.
- Professional experience with major financial institutions with practical knowledge of product control functions (such as accounting and valuation) related to financial instruments
Core Technical Knowledge:
- Strong knowledge of treasury products / financial instruments (i.e., capital and money market instruments - particularly fixed income instruments)
- Hands-on experience of accounting, financial analysis and reporting in an integrated financial systems environment
- Working knowledge of Murex / Summit or other front-to-back treasury systems, integrated financial systems such as SAP, SAP BI/BO reporting tools
- Good understanding of market data requirements for capital / investment market transactions and knowledge of Bloomberg / Reuters
- Experience in performing control reviews, reconciliations, and analysis
- Experience in supporting implementation of system applications / tools – preparing specifications, design analysis, testing, etc.
- Proven quantitative and qualitative analytical skills, including excellent spreadsheet and skills. Familiarity with financial modeling techniques, programming languages (e.g., Python), writing macros will be a plus.
- Ability to contribute to team performance with strong interpersonal and communication skills
- High level of initiative, self-confidence, and a self-starter; proven problem-solving skills, ability to deliver high quality results and operates with minimum supervision
- Proven capacity to deliver results and respond quickly and effectively to requests. Ability and desire to meet tight deadlines.
- Flexibility to perform a variety of tasks and expand the scope of work and responsibilities; committed to achieving individual and team results
- Excellent verbal and written communication and presentation skill
- Highest ethical standards
Interested candidates should apply online by October 18, 2021, at the World Bank Careers page https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=13325&site=1