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 WBG Finance & Accounting (WFA) Vice Presidency is responsible for all aspects of the financial reporting and internal control framework for IBRD, IDA, and the extensive Trust Fund/Partnership portfolio of these entities. WFA also leads the client service function for the WBG’s corporate expenses and trust funds, and 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.

The Corporate Reporting and Analysis team (WFACR) is responsible for all aspects of IBRD and IDA’s financial reporting. This includes: quarterly/annual financial statements and management discussion and analyses (MD&A), related management reporting, business unit accounting oversight responsibilities (loans, cash, borrowings, investments, trust funds, pension, and administrative expenses), and the monthly closing of IBRD and IDA’s ledgers. The team also handles all aspects of IBRD’s capital accounting 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 financial results of the two entities.

The Senior Financial Officer will report to the Division Manager.

Roles & Responsibilities:

• Financial reporting: Serve as a key point of contact for the preparation of IBRD/IDA’s financial statements including the MD&A, management reporting and other ancillary documents. Ensure that monthly, quarterly, and annual financial reporting is accurate, timely, and in compliance with GAAP and/or internal reporting requirements; 
• Financial analysis: Identify trends and/or potential inconsistencies through critical review of data and fact patterns. Assess the Bank’s financial position and results in the context of market movements. Specifically, monitor the interest rate, foreign exchange, and credit risk exposures of all financial instruments used by the Bank, including those in the loan, investment, and the borrowing portfolios;
• Accounting Policy: Research accounting issues and interpret accounting standards in coordination with the Accounting Policy team to ensure the timely and accurate application of existing and new accounting guidance. Maintain strong working knowledge of the applicable accounting framework as well as a thorough understanding of the Bank’s portfolios and processes to analyze the appropriate accounting treatment of new financial products and strategies;
• Internal/external relationship management: Act as a key point of contact for the external auditors. Coordinate financial reporting, accounting, internal control, and external audit activities with counterparts from other business units within the Bank;
• Training and professional development: Provide direction and training to less experienced staff in the course of their day-to-day work regarding the Bank’s significant processes and procedures. Provide guidance as needed and serve as a source of help for inquiries.

Selection Criteria

• CPA or equivalent designation
• Master's degree in Finance, Accounting, or MBA, with a minimum of eight years of experience or equivalent combination of education and experience; 
• Background in financial services industry and familiarity with banking and capital market transactions and/or Big Four or equivalent public accounting experience 
• Strong knowledge of U.S. GAAP and proficiency with researching accounting literature;
• Understanding of the overall financial dynamics of IBRD and IDA would be advantageous.
• Hands on experience in statutory and management reporting for a financial institution.
• Working knowledge of one or more complex, highly integrated accounting systems, and financial reporting tools.
• Strong knowledge and experience with internal controls over financial reporting.
• Strong communication skills, including the ability to explain and express views/opinions clearly and confidently.
• Ability to deal sensitively in a multi-cultural environment and build effective working relations with clients and colleagues.

WFA Functional Competencies 

Client Understanding and Advising – Looks at issues from the client’s perspective and advocates for clients within own area as well as urges others to focus on meeting client needs. Works with others across the VPU to define client needs and develop the best approach to meet client needs (e.g., finds appropriate solutions and negotiates internally for needed resources and support). Advises the client and helps them think proactively about how to best meet their current and future needs. PLUS: Builds an independent opinion of clients’ needs and opportunities that may challenge traditional approaches within WBG.

Broad Business Thinking – Maintains an in-depth understanding of the long term implications of decisions both for related areas within the VPU and the client’s business. Involves the key players in identifying operating needs, issues and immediate solutions. Ensures that decisions are supported by relevant stakeholders and creates the business case for investment in process and enhancements. Sets clear explanations for the integration and alignment of services/solutions with business functions, focusing on the strategic value provided for area of responsibility within the client’s business. Advises the client and helps them think proactively about how to best meet their current and future needs. Plus builds an independent opinion of clients’ needs and opportunities that may challenge traditional approaches within WBG. 

Project Management – Prepares and manages multi-resource plans which affect the direction of the work unit. Analyzes complex, evolving circumstances and takes corrective action to avoid resource constraints and meet deadlines. Prepares to implement plans by ensuring that mandate is clear and manageable with present resources. Foresees problems and opportunities not obvious to others and acts to address them in a timely fashion. Creates new solutions that address problems and anticipate obstacles – i.e. thinking ahead about next steps in detail.

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 readily apparent 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 – Demonstrate thorough knowledge of policies and procedures in related fields. Provide training and guidance to junior staff in enhancing their understanding of relevant policies and procedures. Lead by example and serve as the best practice champion in applying pertinent policies and procedures.

Risks and Controls – Demonstrate subject matter expertise and serve as a resource on risk and internal control issues. Command a holistic understanding of the overall risk and control framework in related areas and establish/streamline the control procedures with both preventive and detective measures. Introduce and share best practices in the management of risk and internal control environment across functional areas. Enhance existing control practices to meet changing business requirements.  

Information Technology and Systems – Demonstrate understanding of the functions and operations of pertinent IT systems and applications. Provide training and guidance to junior staff regarding IT system structure and function related area as relevant to the functional area. May Identify and/or lead opportunities for IT improvements to meet changing business needs and coordinate with IT professionals to design and implement new systems/applications as appropriate based on understanding of the business.  

Communication – Adapt the communication style appropriate for the intended audience. Adopt an inclusive approach to communication as is appropriate to the situation, so as to ensure adequate stakeholder participation. Present information effectively and encourage feedback. 

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.

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