Accounting Analyst

Contract

This is a World Bank Group grade: GE contract. More about World Bank Group grade: GE contracts.

Accounting Analyst

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. Visit www.worldbank.org.

World Bank Group Finance and Accounting (WFA) is led by the Vice President and Controller, who reports to the Chief Financial Officer. WFA in the Bank comprises the following functions: Financial Instruments Accounting and Valuation; Loan and Trust Fund Operations; Accounting Business Services; Financial Reporting; Accounting Policy; Documentation and Communication; Advisory Services; and Risks and Controls. These units collectively include approximately 450 staff, of which 100 are in Washington, D.C. with the remainder in regional offices including the largest in Chennai, India.

WFA Financial Controls (WFAFC) is a business division in WFA and is responsible for the fair recording and reporting of the WBG’s administrative expenses and fixed assets, which have a combined financial statement value of nearly $4.0B. This includes delivering core accounting services, maintaining an effective system of internal controls, and providing strategic leadership on complex business issues pertaining to the following administrative expenses and functions: (i) Travel Accounting, Accounts Payable, Fixed Asset and Lease Accounting, Quality Assurance and Country Office Accounting (together known as WFATA) (ii) Accounts Receivable, Payroll and Tax Allowance Administration and (iii) Helpdesk Operations (WFAAN)

WFAPA- The team in Chennai is responsible for the processing of Salary & Benefit payments to the Bank Group staff on a fortnightly basis. This includes ensuring proper controls over the entire process and adhering to the Bank’s policies and procedures. All tasks included in the payroll schedule need to be performed timely to ensure the accuracy of Payroll payments. While Chennai assumes the responsibility for delivering the services at the performance levels specified in the Service Level Agreement (SLA), HQ payroll engages in stakeholder management and projects.

Duties and Responsibilities • Continuously monitor all GL accounts and prepare periodic reconciliations relating to Payroll; follow up with clients and other units on aged and critical items • Prepare monthly Trial Balance; analyze and explain variances, aged items • Prepare financial statements disclosures • Provide inputs to Management Reporting and Analysis • Prepare and monitor KPIs metrics monthly – with benchmark data; explain significant variances • Prepare unit’s operational reports • Prepare monthly MIS report; explain major variances • Prepare reports from the source system (SAP/BI) to develop the data analytics/trends needed to support the unit’s reporting needs • Implement and monitor relevant accounting policies and ICFR requirements of the Team • Prepare and post General Ledger Accounting entries, and undertake Chart of Account Maintenance activities • Lead and/or participate in the team’s system projects affecting reporting function, including preparation of business requirements and liaising with other units and ITS • Participate in the user testing (UAT) and implementation of any new systems, applications, tools, and reports for the team, to enhance efficiency, effectiveness, and standardization. • Identification of problems and areas of possible improvements and development of constructive recommendations for improvements in internal controls over the activities reviewed. • Mentor junior staff and provide input to senior-level staff to help optimize processing standards and improve productivity; identify process improvements and provide inputs to support management’s initiatives to improve the process quality & process-related controls. • Troubleshoot and resolve system issues that affect payroll processing and financial reporting. • Answer queries and provide information/analysis requested by external auditors and internal auditors • Update desk procedures for each business function • Collaborate with colleagues, clients, and counterparts to resolve day-to-day accounting and reporting issues; provide guidance and solutions for accounting for transactions and internal control issues and support for the research and solutions on complex issues • Participate in the Team’s client engagement and outreach activities, and perform certain Business Advisory functions • Provide insightful data analytics using appropriate tools in delivering the work program • At various stages of the payroll cycle, coordinate with ITS and the Staff receivable system (SRS) to ensure programs have been run; Coordinate with co-workers on the completion of work before moving to the next stage of the process. • Perform secondary review of exception reports and review the exception items reported in the dashboard. Advice necessary corrections to the assistants and ensure the changes are made in the paycheck before finalizing payroll. • Review paychecks of all terminated staff who have a paycheck in the current pay cycle and ensure the benefits are calculated appropriately and there are no outstanding payments due from them. • Handle queries from staff through emails received on the service desk within the agreed Turn Around Time of 24 hours. • Finalize and release off-cycle payments and salary advances.

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. Visit www.worldbank.org.

World Bank Group Finance and Accounting (WFA) is led by the Vice President and Controller, who reports to the Chief Financial Officer. WFA in the Bank comprises the following functions: Financial Instruments Accounting and Valuation; Loan and Trust Fund Operations; Accounting Business Services; Financial Reporting; Accounting Policy; Documentation and Communication; Advisory Services; and Risks and Controls. These units collectively include approximately 450 staff, of which 100 are in Washington, D.C. with the remainder in regional offices including the largest in Chennai, India.

WFA Financial Controls (WFAFC) is a business division in WFA and is responsible for the fair recording and reporting of the WBG’s administrative expenses and fixed assets, which have a combined financial statement value of nearly $4.0B. This includes delivering core accounting services, maintaining an effective system of internal controls, and providing strategic leadership on complex business issues pertaining to the following administrative expenses and functions: (i) Travel Accounting, Accounts Payable, Fixed Asset and Lease Accounting, Quality Assurance and Country Office Accounting (together known as WFATA) (ii) Accounts Receivable, Payroll and Tax Allowance Administration and (iii) Helpdesk Operations (WFAAN)

WFAPA- The team in Chennai is responsible for the processing of Salary & Benefit payments to the Bank Group staff on a fortnightly basis. This includes ensuring proper controls over the entire process and adhering to the Bank’s policies and procedures. All tasks included in the payroll schedule need to be performed timely to ensure the accuracy of Payroll payments. While Chennai assumes the responsibility for delivering the services at the performance levels specified in the Service Level Agreement (SLA), HQ payroll engages in stakeholder management and projects.

Duties and Responsibilities • Continuously monitor all GL accounts and prepare periodic reconciliations relating to Payroll; follow up with clients and other units on aged and critical items • Prepare monthly Trial Balance; analyze and explain variances, aged items • Prepare financial statements disclosures • Provide inputs to Management Reporting and Analysis • Prepare and monitor KPIs metrics monthly – with benchmark data; explain significant variances • Prepare unit’s operational reports • Prepare monthly MIS report; explain major variances • Prepare reports from the source system (SAP/BI) to develop the data analytics/trends needed to support the unit’s reporting needs • Implement and monitor relevant accounting policies and ICFR requirements of the Team • Prepare and post General Ledger Accounting entries, and undertake Chart of Account Maintenance activities • Lead and/or participate in the team’s system projects affecting reporting function, including preparation of business requirements and liaising with other units and ITS • Participate in the user testing (UAT) and implementation of any new systems, applications, tools, and reports for the team, to enhance efficiency, effectiveness, and standardization. • Identification of problems and areas of possible improvements and development of constructive recommendations for improvements in internal controls over the activities reviewed. • Mentor junior staff and provide input to senior-level staff to help optimize processing standards and improve productivity; identify process improvements and provide inputs to support management’s initiatives to improve the process quality & process-related controls. • Troubleshoot and resolve system issues that affect payroll processing and financial reporting. • Answer queries and provide information/analysis requested by external auditors and internal auditors • Update desk procedures for each business function • Collaborate with colleagues, clients, and counterparts to resolve day-to-day accounting and reporting issues; provide guidance and solutions for accounting for transactions and internal control issues and support for the research and solutions on complex issues • Participate in the Team’s client engagement and outreach activities, and perform certain Business Advisory functions • Provide insightful data analytics using appropriate tools in delivering the work program • At various stages of the payroll cycle, coordinate with ITS and the Staff receivable system (SRS) to ensure programs have been run; Coordinate with co-workers on the completion of work before moving to the next stage of the process. • Perform secondary review of exception reports and review the exception items reported in the dashboard. Advice necessary corrections to the assistants and ensure the changes are made in the paycheck before finalizing payroll. • Review paychecks of all terminated staff who have a paycheck in the current pay cycle and ensure the benefits are calculated appropriately and there are no outstanding payments due from them. • Handle queries from staff through emails received on the service desk within the agreed Turn Around Time of 24 hours. • Finalize and release off-cycle payments and salary advances.

Selection Criteria

• CA or CPA or ACCA (or an equivalent professional accounting qualification) with at least 3 years of relevant post-qualification work experience.

Core Technical Knowledge and Skills: • In-depth, detailed understanding of Payroll systems, preferably the PeopleSoft Payroll module and its control features and configuration capabilities (Global Payroll 9.1). • Should have a good working understanding of US Generally Accepted Accounting Principles, accounting policies and ICFR requirements. • Should have experience with GL posting, reconciliations, and accounting reports preparation • Solid track record with a resolution of issues, exceptions, and ageing items • Experience with the application of accounting policies, variance analysis and preparation of financial statements disclosures • Experience in SAP FI system, Power BI, and Tableau tools is desirable. Exposure to other systems like People soft would be an added advantage. • Advanced computer skills in MS Office, accounting software and databases.

WFG and WFA Core Competencies: • Deliver Results for Clients - Contributes to the delivery of results for clients on complex issues. Sets challenging goals that align with the WBG mission and is always looking to improve. Understands clients’ most pressing challenges and contribute to solutions. Takes personal responsibility for producing high-quality work, identifying and informing of risks, and delivering results for clients. • Collaborate within Teams and Across Boundaries- Keeps others fully informed to ensure integration and work consistency. Approaches conflicts as common problems to be solved. Seeks and listens to input from others to inform own decision-making and openly shares information. Frames thinking/actions with a WBG corporate perspective in mind. • Lead and Innovate – Brings new and different insights. Applies critical thinking to current approaches, identifies areas for improvement and tries new solutions that drive results. Considers own behaviors in the context of WBG's values and mission and recognizes the impact one has on others. Operates in ambiguity and changing needs and supports others to do the same. • Create, Apply and Share Knowledge - Actively contributes to and readily applies WBG’s body of knowledge for client solutions. Contributes to the departments and WBG's body of knowledge by applying lessons learned and expertise. Actively invests in own knowledge and seeks feedback. Builds personal and professional networks within and beyond the work group. • Make Smart Decision - Leverages available data and makes timely decisions. Seeks and analyzes facts, data and lessons of past experience to support sound, logical decisions regarding own and others’ work. Applies cost/benefit analysis to meet work program objectives. Contributes to decision-making by providing relevant risk analysis. Shows initiative when necessary and makes decisions in a timely manner within own area of responsibility. • Client Understanding and Advising - Looks at issues from the client’s perspective and takes action beyond normal expectations to ensure client satisfaction. Analyzes situations and determine alternative or creative scenarios and approaches to add value to the business in new and different ways. Works within the team and with other specialty areas to define client needs and develop the best approach to meet client needs. Sees how ideas and best practices from other specialties can be adapted or applied to address client issues. • Broad Business Thinking - Maintains an in-depth understanding of the long-term implications of decisions both for the department and the client’s business. Ensures that decisions are supported by relevant stakeholders as well as sound performance data. Effectively communicates recommended changes to clients and how they will affect their business using the client’s own terminology with limited jargon while attempting to minimize day-to-day disruption of operations. • Project Management - Develops and implements realistic and achievable work plans for group or project team – including tasks, priorities, resources and schedules. Establishes priorities, identifies critical tasks and pushes projects forward in a timely fashion. Establishes controls to detect problems early and notify those involved if deadlines are affected. Creates opportunities and solutions that address more difficult or abstract situations. Creates and adapts solutions to address unusual data or novel situations. • 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-review 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 - Seek out opportunities to further understand of relevant policies and guidance. Identify areas for improvements in existing policies and procedures. Emulate best practices in completing own work program. Provides guidance to junior staff and plays a role in transferring skills and knowledge to others. • Risk and Controls - Demonstrate understanding of key risks and internal control procedures in the related processes. Able to identify key risks and mitigating control steps in own functional areas. Perform internal control procedures in compliance with the overall risk and control framework. Takes proactive measures to know the internal control procedures (e.g., talks with business leaders about their goals and priorities). • Information Technology and Systems - Leverage information technology systems and applications to improve productivity and efficiency. Provide inputs to IT system enhancement efforts based on day to day working experience and knowledge of the systems. • Communication - Utilize appropriate tools and techniques to explain technical information in plain language. Present information in a logical and organized manner both in speech and in writing. Writes effective correspondence, prepares questions and reports, statements of circumstance and briefing notes.

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.