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
The World Bank Group Finance & Accounting Vice President Unit
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.
WFA has three departments - WFA Corporate Accounting & Reporting (WFACA), WFA Financial Controls (WFAFC), and WFA Trust Fund & Loans (WFATL) - that each carry out a specific range of functions and corresponding activities and interact with a broad range of stakeholders across the WBG that enable it to fulfill its various responsibilities.
The WFA Financial Controls (WFAFC) department is responsible for providing corporate accounting services for the WBG entities. Activities include quality assurance, accounting, oversight, and reporting of administrative transactions, managing various payment mechanisms to support payments to staff and vendors including the global payments program and global travel cards for the WBG, and managing the sanctions screening program (for the Bank). The department consists of three divisions – WFA Accounts Receivable, Payroll and Tax (WFAPT), WFA Accounts Payable, Travel and Quality Assurance (WFATA) and WFA Country Office Accounting and Ask Accounting (WFACO) – with three separate managers.
Unit Context
WFATA is responsible for accounts payable, fixed assets and lease accounting, quality assurance program, sanctions screening and travel accounting. It also provides strategic leadership and guidance to business units across the WBG on developing and maintaining an effective system of internal controls over these functions.
The QA Program assesses the World Bank Group Units’ compliance with administrative expense policies and procedures and recommends corrective actions as appropriate. In collaboration with the Units and stakeholders, the program strengthens internal controls by building awareness of compliance trends and exceptions. It identifies opportunities to strengthen controls and simplify processes through behavioral, policy, process and system changes. It also provides a basis for management’s annual assertions regarding controls over administrative expenses.
WFATA is currently seeking an Accounting Officer to join its team in Washington, DC, reporting to the team lead for Travel and Quality Assurance (QA). The Accounting Officer-Quality Assurance, functions as the HQ anchor for the QA program and performs a variety of tasks, including broader responsibilities of the Division as needed. Primary areas of responsibility are leadership of the QA program and providing administrative and accounting policy guidance. The position closely interacts with the offshore QA team in Chennai in delivering the work program.
Duties and Accountabilities:
• Formulation of the QA work program including responsibility for developing the scope, sampling, and review methodologies, designing relevant reports and other products in support of the QA function, and determining and delivering against product delivery timetables, closely liaising with the offshore team.
• Continuously monitors changes in policies, systems and processes relating to administrative expenses. Ensures that (i) the appropriate risks are assessed, (ii) timely and accurate information is provided for VPUs to take action as appropriate, and (iii) preventative programs are implemented in coordination with relevant stakeholders to address systemic issues identified during the QA review, through process improvements, policy revisions and system enhancements. Proactively introduces modern techniques for identifying and assessing risks, and performing the reviews, in order to improve the effectiveness of the QA Program.
• Performs a key role in the assessment of control risks and ensures that adequate accounting and administrative controls are implemented with respect to the monitoring of WBG funds used for administrative expense purposes. Coordinates the Internal Control over Financial Reporting (ICFR) Reviews for the Division.
• Coordinates the review and dissemination of compliance reports containing the results of the testing of controls for WBG Units. Develops recommendations for remediating control deficiencies relating to administrative expenses and monitors and reports on the implementation status of the respective Units’ action plans.
• Functions as the primary liaison with the Bank Units’ Chief Administrative Officers (CAOs) and Resource Management staff, IFC’s CAOs/Regional Financial Controllers (RFCs) and Finance staff, and MIGA’s Controllers, which includes providing guidance on the development and execution of an effective internal controls program to help foster a sound control environment. Actively engages with the CAOs/RFCs to ensure the continuous improvement of the QA program and client satisfaction.
• Proactively pursues the identification and development of new product and service offerings, benchmarks best practices and employs emerging technologies such as Artificial Intelligence and Machine Learning to modernize the QA program.
• Performs as a key resource in providing technical guidance to the CAOs/RFCs as they endeavor to further develop staff and management’s familiarity with the WBG’s policies and procedures over administrative expenses. This includes, but is not limited to, participation in Units’ meetings and delivering presentations and training at various fora.
• Performs periodic Quality Assurance Onsite Reviews at 120+ country offices on a rotational basis (approximately 15% travel) and trains other staff identified for performing such onsite reviews.
• Partners with and provides guidance/support to the offshore team responsible for executing various aspects of the Quality Assurance program. Regularly communicates with and involves the team in QA activities, monitoring the program deliverables and timelines.
• Designs and develops analytical reports necessary to effectively monitor the WBG’s administrative expenses from a financial statement as well as budget management perspective. Assesses the adequacy of monitoring reports and analytic/diagnostic tools, and designs new reports/tools to further the implementation of accounting and administrative controls.
• Serves as a focal point and technical leader to the Division staff responsible for performing QA reviews.
• Provides technical assistance on and leads the review and resolution of the more complex accounting and control issues that relate to administrative expense processing in SAP, PeopleSoft and other related systems.
• Supports the interpretation and application of professional/ authoritative literature such as statements issued by the FASB and the IASB to complex business issues. In addition, assists in formulating Bank-specific policies and procedures such as the relevant Directives/Procedures/Guidelines to ensure that the WBG’s recording of administrative expenses remains compliant with Generally Accepted Accounting Principles (GAAP).
Selection Criteria
1. Minimum:
• Professional accounting qualification (ACA / ACCA / CPA or equivalent); AND
• Bachelor’s or Master's degree in relevant discipline (Finance, Accounting) with 5 years of relevant experience
2. Specialized audit certifications such as CIA or CISA will be a plus.
3. Solid understanding of Generally Accepted Auditing Standards (GAAS) and Generally Accepted Accounting Principles (GAAP). Understanding of International Financial Reporting Standards (IFRS) and/or International Standards on Auditing (ISA) is a plus.
4. Extensive experience in auditing of, and reporting on, complex accounting transactions relating to administrative expenses and related processes.
5. Demonstrated ability to understand and apply professional auditing standards and accounting statements, as well as internal accounting and administrative policies and procedures. Ability to support the translation of accounting literature into clear business instructions or guidelines.
6. Demonstrated experience and ability to analyze process risks and compliance in a large organization, employing modern techniques leveraging technology and implementing control procedures to mitigate the risks.
7. Solid knowledge of internal controls and procedures related to administrative expenses in an international and automated environment is required.
8. Practical experience in analyzing large sets of quantitative and qualitative data, identifying the underlying control risks employing leading-edge techniques and translating findings into the formulation of solutions.
9. Experience in SAP, BW/BI, Tableau, Alteryx and PowerBI will be an advantage. Familiarity with data analytics and visualization techniques and principles. Practical experience in analyzing large sets of quantitative and qualitative data, identifying the underlying control risks, employing leading-edge techniques, and translating findings into the formulation of solutions.
10. Demonstrated ability to learn and apply new technology quickly and effectively.
11. Skill managing complexity, leading by influence, proactivity, problem-solving, exercising judgment and discretion, and innovation, and detail orientation.
12. Diplomacy and strong interpersonal skills; commitment to work in a team-oriented, multi-cultural environment with an open and collegial work style and the ability to listen and integrate ideas from diverse views.
13. Excellent communication skills and demonstrated ability to express views and opinions diplomatically and confidently. Ability to effectively communicate with clients and business partners to ensure quality results.
14. Experience leading and managing projects and managing associated change.
15. Ability to integrate and balance priorities, work activities, and resources for the benefit of multiple key stakeholders.
Key Competencies - the preferred candidate must demonstrate the following competencies:
• Project Management: Understands the basic concepts of project management, as they relate to the execution of tasks within a project.
• Business Processes & Systems: Has an understanding of business processes and systems (including accounting systems) to recommend and help implement process improvements.
• Fundamental Controllership Knowledge: Has a basic understanding of general accounting principles, risks and controls, financial concepts, and financial transaction processes.
• Communication: communicate to effectively share and exchange information. Able to listen actively, obtain necessary input, share ideas, speak persuasively, and convey information in a clear, objective, and concise manner.
• Collaboration: collaborate and work with others across and outside of the World Bank Group in order to achieve the best results for clients; maintain a WBG corporate mindset above an individual or team perspective.
• Influencing across boundaries
• Leadership and innovation: take initiative, and be persistent in their drive for results; seek opportunities to improve and find innovative solutions to problems; inspire and encourage others to have a positive attitude and impact; be able to adapt to changing circumstances, and be bold to increase the Bank’s Group’s effectiveness.
• Smart decision making: balance the need for making empirically-based sound decisions with a sense of urgency by making quick, timely, and relevant decisions; be good problem solvers.
• Client understanding and advising: strive to add value to clients in the business; understand the critical forces that shape clients’ needs. Demonstrate a consultative mindset.
• Risks and controls: assess risks and maintain an effective and efficient internal control environment. Able to identify and assess risks, including identification of mitigating controls
• Drive for Results: Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results and has the personal organization to do so.
• Teamwork (Collaboration) and Inclusion: Collaborates with other team members and contributes productively to the team's work and output, demonstrating respect for different points of view.
• Knowledge, Learning, and Communication: Actively seeks knowledge needed to complete assignments and shares knowledge with others, communicating and presenting information in a clear and organized manner.
• Business Judgment and Analytical Decision Making: Analyzes facts and data to support sound, logical decisions regarding own and others' work.
Additional Competencies:
• Results for clients: address the needs and challenges of clients; hold themselves accountable and take personal ownership for identifying and managing risks and delivering evidence-based results.
• Knowledge creation, application, and sharing: share their expertise; create and contribute to the WBG’s body of knowledge; and efficiently reflect and draw on lessons from colleagues; expand their professional networks in their areas of expertise.
• Broad business thinking: solicit information on WBG/VPU direction, goals and industry competitive environment to determine how own area can add value to the organization and to clients. Makes decisions and recommendations clearly linked to the organization's strategy and financial goals.
• Project management: plans, organizes, monitors, and controls projects and tasks using appropriate tools, methodologies, and processes.
• Analytical thinking: able to break down raw information and undefined problems into specific, workable components that in turn clearly identify the issues at hand. Make logical conclusions, anticipate obstacles and consider different approaches that are relevant to the decision-making process.
• Policies and procedures: understand and apply relevant policies and procedures in executing responsibilities.
• Information technology and systems: utilize information technology to support business operations.
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.
This vacancy is archived.