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Description
Do you want to build a career that
is truly worthwhile? Working at the World Bank Group provides a unique
opportunity for you to help our clients solve their greatest development
challenges. The World Bank Group is one of the largest sources of funding and
knowledge for developing countries; a unique global partnership of five
institutions dedicated to ending extreme poverty, increasing shared
prosperity and promoting sustainable development. With 189 member countries
and more than 120 offices worldwide, we work with public and private sector
partners, investing in groundbreaking projects and using data, research, and
technology to develop solutions to the most urgent global challenges. For
more information, visit www.worldbank.org.
Unit Overview – WFA
The World Bank Group Finance & Accounting (WFA) Vice Presidential Unit is
responsible for all aspects of the corporate reporting and internal control
framework for the International Bank for Reconstruction and Development
(IBRD), the International Development Association (IDA) 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.
Organizationally, WFA is comprised of four functional areas: (1) Corporate
Accounting and Reporting; (2) WFA Trust Funds & Loans; (3) WBG Financial
Control; and (4) WBG Finance and Accounting, Chennai. These units report
directly to the WBG Controller who heads the WFA Vice Presidency.
Overview – WFACC
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: Statutory financial reporting, Management
reporting, Financial Analysis, Trial Balance close process, Capital Business
processing. Participate in multiple areas of responsibilities as listed
below
Financial Analyst will participate in the areas responsible for:
• Preparing internal and external financial statements / reports and other
management reports for IBRD and IDA
• Coordination of monthly closing process for the decentralized business
units of the Bank
• Analyzing financial results and balances for reasonableness as part of
oversight responsibilities
• Maintaining the capital accounts for IBRD / IDA;
Duties also include participation in WFA projects and preparation of ad-hoc
financial analysis for senior management.
Examples of specific accountabilities:
• Prepare quarterly and annual financial statements including Management
Discussion & Analysis, Flash reports to the President, Information
Statements and Annual Report
• Work closely with assigned
business units to ensure timely and accurate monthly close process including
reviewing and approving adjusting entries if needed;
• Develop and apply analytical
methodologies to test and explain changes in financial trends and results,
including validating the monthly trial balance.
• Monthly Trial Balance close process
for IBRD/IDA
• 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/review of communication with IBRD’s
member countries.
• Participate in the
implementation of new features or enhancements to existing accounting
systems;
• Documentation and maintenance of
processes, controls and checks for financial reporting;
• Strive to redefine processes,
ideate and contribute to value-add activities leading to efficiency gains
• Performing other
responsibilities assigned from time to time.
Selection Criteria
• Chartered Accountant degree
required. Bachelors / advanced degree in a related field will be a plus.
• Basic knowledge of financial
instruments and financial markets;
• Minimum of 3 years of
post-qualification experience in similar or complementary roles is required
• 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 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.
Competencies:
WBG Core Competencies
• Deliver results for clients – Contributes to delivery of
results for clients on complex issues. Sets challenging goals that
align with the WBG mission and is always looking to improve. Understands
clients’ most pressing challenges and contributes to solutions. Takes personal
responsibility for producing high quality work, identifying and informing of
risks, and delivering results for clients.
• Collaborate within teams and across boundaries -
Keeps others fully informed to ensure integration. Approaches conflicts as common
problems to be solved. Seeks and listens to input from others to inform own
decision making and openly shares information. Frames thinking/actions with a
WBG corporate perspective in mind.
• Lead and innovate – Brings new and different insight. Applies
critical thinking to current approaches, identifies areas for improvement,
and tries new solutions that drive results. Considers own behavior in context
of WBG's values and mission and recognizes impact one has on others. Operates
in ambiguity and changing needs and supports others to do the same.
• Create, Apply and Share Knowledge – Actively contributes
to and readily applies WBG’s body of knowledge for internal and/or external
client solutions. Contributes to the departments and WBG's body of knowledge
by applying lessons learned and expertise. Actively invests in own knowledge
and seeks feedback. Builds personal and professional networks within and
beyond the work group.
• Make Smart Decisions - Leverages available data and makes
timely decisions. Seeks and analyzes facts, data and lessons of past
experience to support sound, logical decisions regarding own and others’
work. Applies cost/benefit analysis to meet work program objectives.
Contributes to decision making by providing relevant risk-analysis. Shows
initiative when necessary and makes decisions in a timely manner within own
area of responsibility.
WFA Functional Competencies
• Client Understanding and Advising – Applied-Solid
understanding and consistent ability to apply the competency in most
situations. Looks at issues from the client’s perspective and takes action
beyond normal expectations to ensure client satisfaction. Analyses
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 – Maintains an in-depth
understanding of the long-term implications of decisions both for department
and the client’s business. Ensures that decisions are supported by relevant
stakeholders as well as sound performance data. Effectively communicates
recommended changes to clients and how they will affect their business using
the client’s own terminology with limited jargon while attempting to minimize
day-to-day disruption of operations.
• Project Management – Develops and implements realistic and
achievable work plans for group or project team – including tasks,
priorities, resources and schedules. Establishes priorities, identifies
critical tasks, and pushes projects forward in a timely fashion. Establishes
controls to detect problems early and notify those involved if deadlines are
affected. Creates opportunities and solutions that address more difficult or
abstract situations. Creates and adapts solutions to address unusual data or
novel situations.
• Analytical Thinking – Determines criteria for assessing
issues and opportunities. Establishes clear goals and priorities needed to
assess performance. Identifies relationships and linkages between different
information sources. Anticipates issues that are not clear on the surface.
Identifies root causes and effects. Establishes clear goals and priorities.
Anticipates potential problems and develops solutions needed to resolve them.
Systemically analyzes relationships between apparently independent problems
and issues. Reviews and cross-reviews reports. Identifies trends as well as
isolated events. Translates analytical reports into management presentations
and provides guidance to resolve issues. Anticipates the possible outcome of
potential solutions. Identifies areas of significant concern or opportunity.
Probes and initiates research to identify critical problems.
• Policies and Procedures – Seek out opportunities to
further understanding of relevant policies and guidance. Identify areas for
improvements in existing policies and procedures. Emulate best practices in
completing own work program. Provides guidance to junior staff and plays a
role in transferring skills and knowledge to others.
• 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 (e.g., talks with business leaders about their goals and
priorities).
• Information Technology and Systems – Leverage information
technology systems and applications to improve productivity and efficiency.
Provide inputs to IT system enhancement efforts based on day to day working
experience and knowledge of the systems.
• 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. For more information and online application click here
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