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ย Description
Do you want to build a career that is truly worthwhile? Working at the World Bank provides a unique opportunity for you to join us to help our clients solve their greatest development challenges. The World Bank (WB) is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions (IBRD, IDA, IFC, MIGA, and ICSID) dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development on a livable planet. 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.ย For more information, visit www.worldbank.org.
The WB Finance & Accounting (WFA) Vice Presidency is responsible for all aspects of the financial reporting and internal control framework for IBRD and IDA, and the extensive Trust Fund/Partnership portfolio of the WB entities. It supports an appropriate fiduciary control framework and administering disbursements for Bank lending and leads the client service function for the WBโs corporate expenses.Organizationally, WFA is comprised of three departments: (1) Corporate Accounting and Reporting, (2) Trust Funds and Loans, and (3) Financial Controls. In Controllerโs our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.
Unit Overview
The WBG Trust Fund and Loan Operations Department (WFATL) in WFA provides several financial operation activities, notably financial services, compliance, disbursements, accounting, reporting, and analytics for IBRD/IDA loans and Trust Funds.
WFATF, a division within WFATL is focused on supporting both the WBGโs Trust Funds portfolio, for example, providing advice on the design and implementation of new trust funds, policies, or processes, as well as many activities associated with the implementation and closure of trust funds, including account creation and maintenance, disbursement transactions, trust funds and reporting and helpdesk functions.ย
WFAAS division operates out of three locations โ DC, Chennai, and Manila.ย The team in Chennai and Manila (WFATN), comprise two sub-teams viz., (i)Trust funds accounting clearance and Fiduciary & Controls team, and (ii) Trust Funds accounting and reporting. Together, the Division provides end-to-end support for WBG Trust Funds, in terms of, Providing upstream advice to Bank teams and influence the design of new Trust funds to ensure compliance with fiduciary, reporting, internal control requirements and best practices.
Support, help design, and ultimately implement and account for new and emerging trust funds, in addition to the existing trust fund.Ensure the accuracy and integrity of the Trust Fund modules, financial ledgers and related interfaces, which capture all TF activities.Report on Trust Fund accounts at the individual account and portfolio level through, audited/un-audited financial statements, management reports, analyses and trends for corporate reporting, donor specific reports, etc.Maintain/enhance/develop underlying systems, tools and applications to cater to the changing business needs.This is an advertisement for a Senior Financial Assistant, in the Trust Funds team in Chennai (WFATN).ย This position reports to the Trust Funds Accounting Clearance and Fiduciary Controls Team Lead in Chennai.
How your contributions will help us achieve our goals
The Senior Financial Assistant will be responsible for review and clearance of agreements for Trust Funds. Ensuring accuracy of Master data for all TFs is an important task. These day to day tasks will lead to effective downstream activities and smooth implementation and closure of Trust Funds. You are expected to contribute to continuous improvement and process enhancement initiatives. You are also expected to work with the external auditors by providing supporting documentation and monitor exception reports and resolve inconsistencies, if any.ย ย ย ย ย ย ย ย ย
What you will do:
Clearances and Master data maintenance for trust funds:
โขย Review, interpret, and clear legal and Bankโs internal documents such as Trust Fund Proposals (TFP), Administration agreements /amendments for creation/activation and maintenance of trust fund master dataโขย Ownership and maintenance of master reference fields in SAP for assigned trust fund programs in accordance with the program specific requirements and legal and internal documents.โขย Process call of funds per agreed upon termsโขย Process the Bank-executed trust fund closures past their end disbursement dateโขย Respond to client queries under the TACT Helpdesk:โขย Assist task teams in navigating the trust fund tools and applicationsโขย Coordinate with ITS to resolve technical and other system issues related to these applications
Process improvements & automation projects:
โขย Lead/Participate in automation projects and coordinate with technical teams on system changes, bug fixes, enhancements and testingโขย Contribute to the continuous improvements and process enhancement initiatives surrounding trust fund processes aimed at simplification and/or enhancements to process quality and controls;โขย Provide inputs and actively participate in various institutional projects;
Others:
โขย Provide a variety of metrics / charts to be included in overall departmental operations report to measure progress of operations at Chennai vis-a-vis agreed norms for management information and action.
Selection Criteria
What you will bring:
Education & Experience:
โขย Chartered Accountant or Certified Public Accountantโขย Minimum 0-1 year post qualification experienceโขย Exposure to an integrated accounting system would be highly desirable
Knowledge and Skills:
โขย Attention to detail and numerical accuracy while managing multiple tasks and projectsโขย Good written and oral language skills in Englishโขย Strong computer skills, and basic understanding of information systems and the application of newer technologies.
Abilities:
โขย Good team player, with a strong client and results orientation, capable of working within a multicultural environment, with minimum supervisionโขย Ability to deal with rapidly shifting priorities and work demands, and willingness to learn new skills and seek help from colleagues
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.