ย
ย 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.ย
This position is that of the Financial Officer in Chennai (WFASC) supporting valuation work program, which is an extension of the WFASF team in Washington DC (HQ).ย
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain her/his Regular or Open-Ended appointment. All others will be offered a 4-year term appointment.ย
What you will do:
The Financial Officer will work as part of a team of professionals to meet the unitโs responsibilities as they relate to the valuation and accounting of financial instruments.ย Responsibilities will include the following:
โขย Produce valuations for the financial instrumentsโ portfolios, utilizing platforms such as Numerix OneView, Murex, Summit, and internally built systems.โขย Preparation and quality assurance of calculated market data, evaluation of data sources, and verification of the data reliability for valuations of borrowings and loan portfolios.โขย Compare and analyze WB valuations versus corresponding Counterparty valuations and other alternative sources.โขย Analyze the results of sensitivity to market movements by utilizing Numerix OneView tools and formalizing into procedures and reportingโขย Verify trade set-up and trade modificationsโขย Develop expectations, perform analysis, prepare / review, and present sign-off commentaries, suggest, and implement solutions in a proactive mannerโขย Prepare / present various financial and management reports, as required by the department or other stakeholdersโขย Review accounting entries and perform daily/monthly control activities for the borrowings and liquid investments portfoliosโขย Lead / support efforts to implement institutional projects and business initiativesโขย Translate new initiatives / financial products into new processes and / or system requirements. This would include performing requirement (business specifications) gathering and documentation, design review and analysis, user acceptance testing, implementation and maintenance of systems supporting various portfoliosโขย Collaborate with business and information technology teams across locations to address system issues and implement solutions promptlyโขย Proactively interact with World Bank Treasury (TRE) front office business units and loans team to stay abreast of new / proposed activities that may have valuation, accounting or reporting implications.โขย Provide services to clients within and outside the Bank by providing financial information, training programs and related materials.โขย Coordinate with / support external and internal auditors, when requiredโขย Exercise fiduciary responsibility by reviewing policies and procedures and ensuring they are correctly followed.ย ย โขย Staying abreast of accounting pronouncements and industry best practice as it relates to accounting / valuation of financial instruments.โขย Continually look for opportunities to improve processes and internal controls.ย Be responsible for promoting controls and ensuring compliance in WFA.โขย Maintain and develop processes, procedures, documentation and internal controls around portfolios handled, with the objective of increasing efficiency and accuracy.
Selection Criteria
Education and Experience:
โขย Bachelorโs degree(s) in Engineering, Finance, and/or Economics and a minimum of 8 yearsโ relevant experience or equivalent combination of education and experience.ย โขย CA/CPA/ACCA and/or FRM/CFA. Masterโs degree(s) in Accounting, Finance, and/or Economics may be considered in lieu of CPA/CA/ACCA and/or FRM/CFA.โขย Professional experience with major financial institutions with practical knowledge of product control functions (such as valuation and accounting) related to financial instrumentsย
Core Technical Knowledge:
โขย Deep knowledge of treasury products / financial instruments (i.e. capital and money market instruments - particularly fixed income instruments) and loan products (i.e. loans, credit and guarantees) and their related accounting and valuation treatmentโขย Good knowledge of financial models used for the valuation of fixed income instruments.ย โขย Hands-on experience of using Summit / Murex / Numerix OneView system would be a distinct advantageโขย Sound experience in using Bloomberg/Reutersโขย Good understanding of market data requirements for capital market related trading activitiesโขย Proven quantitative and qualitative analytical skills, including excellent spreadsheet skills. Familiarity with financial modeling techniques and writing macros will be a plusโขย 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 supervisionย โขย Diplomacy and strong interpersonal skills; commitment to work in a team-oriented, multi-cultural environment; detail orientedโขย Proven capacity to multi-task, deliver results and respond quickly and effectively to requests.ย Ability and desire to meet tight deadlinesโขย Excellent verbal and written communication and presentation skillsโขย Highest ethical standards
Key Competencies:
โขย Deliver results for clients โ Proactively addresses clientsโ stated and unstated needs. Adds value by constantly looking for a better way to get more impactful results; sets challenging stretch goals for oneself. Immerses oneself in client experiences and perspective by asking probing questions to understand unmet needs. Identifies and proposes solutions to mitigate and manage risksโขย Collaborate within teams and across boundaries โ Collaborates across boundaries, gives own perspective and willingly receives diverse perspectives. Appropriately involves others in decision making and communicates with key stakeholders. Approaches conflicts as common problems to be solved. Actively seeks and considers diverse ideas and approaches. Integrates WBG perspective into work.โขย Lead and innovate โ Develops innovative solutions. Contributes new insights to understand situations and develops solutions to resolve complex problems. Adapts as circumstances require and manages impact of own behavior on others in context of WBG's values and mission. Identifies and pursues innovative approaches to resolve issues.โขย Create, Apply and Share Knowledge โ Applies knowledge across WBG to strengthen WBG client solutions. Leverages department's expertise and body of knowledge across WBG to strengthen internal and/or external client solutions. Seeks to learn from more experienced staff to deepen or strengthen their professional knowledge and helps others to learn. Builds personal and professional networks inside and outside the department unit.โขย Make Smart Decisions โ Interprets a wide range of information and pushes to move forward. Seeks diversity of information and inputs, researches possible solutions, and generates recommended options. Identifies and understands risks and proposes recommendations. Based on risk analysis makes decisions in a timely manner within own area of responsibility, considering the interests and concerns of stakeholders.โขย Client Understanding and Advising โ Looks at issues from the clientโs 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).โขย Broad Business Thinking โ Maintains an in-depth understanding of the long-term implications of decisions both for related areas within the VPU and the clientโs 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 clientโs business.โขย Project Management โ 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 โ i.e. thinking ahead about next steps in detail.โขย Analytical Thinking โ 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.โขย Policies and Procedures โ 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.โขย Risks and Controls โ Lead by example and serve as best practice champions in completing internal control procedures, including understanding impact beyond own immediate functional areas. Provide constructive inputs to the design, implementation and improvement of risk and internal control procedures for standalone end-to-end processes based on understanding of the business. Assess impact of potential control risks and propose mitigating control procedures as appropriate, with balanced efficiency and effectiveness results within any given processes.โขย Information Technology and Systems โ 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.โขย Communication โ Adapt the communication style appropriate for the intended audience. Adopt an inclusive approach to communication as is appropriate to the situation, 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 theย World Bankย andย IFC, including our values and inspiring stories.