Description
The World Bank Group (WBG) is one of the world's largest sources of funding and knowledge for developing countries. It uses its financial resources and extensive experience to help its client countries reduce poverty, and address pressing social and economic challenges. To ensure that countries can access the best global expertise and help generate cutting-edge knowledge, the WBG is constantly seeking to improve the way it works. Innovation and partnership are central to the five institutions of the WBG: The International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). 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 and Accounting Reporting (WFACA), WFA Financial Controls (WFAFC), and WFA Trust Fund and 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 WBG, and managing the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) 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.
WFATA is currently seeking an Accounting Officer to join its Travel Accounting Team in Washington, DC, reporting to the team lead for Travel and Quality Assurance.
Duties and Accountabilities:
• Review the travel policy and processes, propose and implement updates, ensuring they meet the WBG objectives and align with industry best practices. • Perform a key role in the assessment of travel control risks and identify opportunities to strengthen the Bank’s internal controls through process improvements, policy revisions and system enhancements. Proactively develop plans and actions to implement such changes.• Participate in the implementation and ongoing management of the Corporate Card program, including initiating and coordinating system changes, communications, and client support and oversee monitoring and reporting. • Manage the Corporate Card vendor relationship, ensuring the WBG receives the contracted services, and the vendors comply with the Service Level Agreements.• Contribute to the Travel Process Rethink to incorporate best practices into the WBG travel policies and processes. • Provide expert input in the design of the new travel system and process in the context of WBG’s ERP replacement project, and its ongoing maintenance, ensuring alignment with established objectives and policies, adequate controls and validation, monitoring and reporting mechanisms. • Design and develop analytical reports, including Business Intelligence reports and Dashboard, necessary to effectively monitor the WBG’s travel and aid management in decision-making. Employ Travel data analytics to support WBG-wide initiatives such as efficiency reviews and moving data to the Enterprise Data Explorer platform. • Perform periodic Travel trial balance review and provide guidance on accounting policies, financial reporting, and internal control matters relating to Travel; work with WFA Risk and Controls team and external auditors as needed. • Perform project lead or project team member roles as appropriate, based on the assigned work program. Provide expert inputs to system enhancements and other process improvement projects.• Share key information on processes, timelines, responsibilities, expectations, and potential problems with supervisors and team members and seek their input. • Guide and supervise other team members as applicable. Provide direction and training to less experienced staff in the course of their day-to-day work regarding reporting, processes and procedures. Provide guidance as needed and serve as an adequate source of knowledge in responding to travel inquiries. • Provide guidance and support as needed to the offshore travel helpdesk function responsible for responding to staff members. Regularly communicate and engage with the team on travel matters. • Closely partner with other units and business partners on various travel-related initiatives. • Interpret and provide guidance on the WBG’s travel policy to staff, visitors and other WBG units. • Provide technical assistance on, and lead the review and resolution of the more complex accounting and control issues that relate to travel transactions processing in SAP, PeopleSoft and other related systems. • Support the interpretation and application of professional/authoritative literature such as statements issued by the FASB and the IASB to complex business issues. In addition, assist in formulating Bank-specific policies and procedures to ensure that the Bank’s recording of administrative expenses remains compliant with Generally Accepted Accounting Principles (GAAP).
Selection Criteria
• Minimum Professional accounting qualification (ACA / ACCA / CPA or equivalent).• Bachelor’s or Master's degree in relevant discipline (Finance, Accounting) with 5 years of relevant experience.• 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. Knowledge of WBG-specific policies, processes, and systems will be an advantage.• Experience in travel process & accounting, and corporate card management will be an advantage.• Good understanding of SAP and institutional travel systems will be an advantage. • 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.• Solid knowledge of internal controls and procedures related to administrative expenses in an international and automated environment is required.• Experience in 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.• Demonstrated ability to learn and apply new technology quickly and effectively.• Skill managing complexity, leading by influence, proactivity, problem-solving, exercising judgment and discretion, and innovation, and detail-orientation.• 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. • 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.• Experience leading and managing projects and managing associated change.• 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.
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