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.orgย
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), 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 WBโs 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 an extended-term consultant (ETC) in WFASF team at HQ. The tenure of this ETC role would be 1 year from the date of joining.
Terms of reference:
The consultant will work as part of a team of professionals to meet the teamโs responsibilities related to the accounting and reporting of financial instruments and other activities. The scope of work will cover the following:ย
โขย Ensuring the accuracy and appropriateness of accounting and/or valuation data, systems, and reporting deliverables, in relation to financial instrumentsโขย Preparation and quality assurance of calculated market data, evaluation of data sources. Daily review, and verification of the market data reliabilityโขย Supporting period-end accounting close process, including but not limited to, preparing / posting journal entries, performing assigned internal control reviews and reconciliations, resolving breaks / issues before and after closeโขย Analyzing accounting and/or valuation results as they relate to financial instruments, to ensure they are consistent with expectations and business objectives, or those deviations are understood and adequately documentedโขย Developing expectations, performing analysis, preparing commentaries, suggesting, and implementing solutions in a pro-active mannerโขย Preparing various financial and management reports (including foot notes / disclosures as part of Financial Statements and MD&A), as required by the department or other stakeholdersโขย Coordinating with external and internal auditors, when requiredโขย Supporting efforts to implement projects / initiatives, such as replacement of Summit application for Asset Management, AI/ML solution for trade verification automation, FIARA (SAP BI reporting application) enhancements, and any other, as and when required by the teamโขย Translating new business initiatives or financial products into processes and / or system requirements. This includes documenting approaches and current and future state processes, drafting / reviewing Business Requirements Documents, analyzing solution design specifications, preparing / reviewing test plans and performing / overseeing testing of systems.โขย Collaborating with business and information technology teams across locations to address issues and implement solutions promptlyโขย Proactively interacting with WFA colleagues and Treasury (TRE) front office and other business units, as required to stay up to date on new or proposed investment activities, products and initiatives and assess their accounting and reporting implicationsโขย Maintaining and developing processes, procedures, documentation, and internal controls around portfolios handled, with the objective of increasing efficiency and accuracyโขย Staying abreast of accounting pronouncements and industry best practices as they relate to accounting / reporting of financial instrumentsโขย Identifying opportunities for improvements in current processes, initiating improvements within the system and control framework.
Selection Criteria
Education and Experience:
โขย Masterโs degree(s) or equivalent in relevant profession discipline (Accounting, Finance, Economics, etc.) and a minimum of 5 yearsโ relevant experience or equivalent combination of education and experience.ย โขย CA/CPA/ACCA/CGMA and/or FRM/CFA preferredโขย Professional experience with major financial institutions or a public accounting / auditing / consulting firm with practical knowledge of product control functions (such as accounting and pricing / valuation) related to financial instrumentsย
Knowledge, Skills and Abilities:
โขย Strong knowledge of treasury products / financial instruments (i.e., capital and money market instruments - particularly fixed income instruments and derivatives)โขย Hands-on experience of accounting, financial analysis and reporting in an integrated financial systems environmentโขย Working knowledge of Summit / Murex or other front-to-back treasury systems, integrated financial systems such as SAP, SAP BI/BO reporting toolsโขย Good understanding of market data requirements for capital / investment market transactions and knowledge of Bloomberg / Reutersโขย Experience in performing control reviews, reconciliations, and analysisโขย Experience in supporting implementation of system applications / tools โ preparing specifications, design analysis, testing, etc.ย โขย 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.โขย Ability to contribute to team performance with strong interpersonal and communication skillsโขย High level of initiative, self-confidence, and a self-starter; proven problem-solving skills, ability to deliver high quality results and operates with minimum supervisionโขย Proven capacity to deliver results and respond quickly and effectively to requests.ย Ability and desire to meet tight deadlines.โขย Flexibility to perform a variety of tasks and expand the scope of work and responsibilities; committed to achieving individual and team resultsโขย Excellent verbal and written communication and presentation skillโขย Highest ethical standards.
World Bank Group Core Competencies
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