Associate Financial Operations Officer

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IFC - International Finance Corporation

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

Associate Financial Operations Officer

Description

IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.

The IFC Controllers Department (CNT) is responsible for effectively and efficiently managing IFC’s Financial Operations (loan, equity and short-term finance operations, and back-office treasury support operations), Financial Reporting (including portfolio review, investment accounting and accounting policy), Internal Controls, and Financial Systems, Integration and Projects. The Department comprises approximately 125 diverse and highly skilled staff, based in Washington DC, and Chennai.

IFC’s Treasury Financial Operations (CNTTR), within the IFC Controllers department, is a team of 14 staff that provide back-office and accounting functions for all IFC Treasury activities. The team is additionally responsible for processing all IFC’s cash transactions and for the monitoring and approval of the advisory fees and reimbursable expenses of the Investment Departments. CNTTR also provides operational support in the development of new business initiatives and products. CNTTR has co-located some aspects of its work program to WBG’s Chennai office to deliver its work program on a cross support basis. The team providing cross support interacts with IFC colleagues in Washington on a day–to–day basis and ensures that the service level agreement is met.

The Quality Assurance team within CNTTR is seeking an Associate Financial Operations Officer to join the small team of Treasury professionals. The Officer will provide strategic and tactical support for the Treasury support activities and will be responsible for proactively advising on technical accounting, metrics and controls, data mining and analysis, operational risk management, financial reporting, technology/automation development and knowledge/learning.

The Associate Financial Operations Officer position is based in HQ and reports to the Head of the CNTTR team. This is a technically specialized position that will provide accounting guidance to support processing and accounting operations of Treasury transactions. The position requires thorough knowledge of treasury products, and relevant accounting as well as proficiency in handling multiple systems, including Summit, the front-to-back treasury system, Quantum, the cash administration system, SAP etc. The suitable candidate will have a good understanding of controls and their application to treasury processes. The selected candidate will be required to work across the various team functions and become a fully functional team member within a short timeframe. The position requires the ability to establish productive relationships with staff at all levels within the team and with all units of the Corporation.

Duties and Responsibilities

• Perform daily and monthly sub-ledger control activities and analysis to ensure accurate and full recording of transactions in accordance with policies and procedures • Contribute to, and monitor timely and accurate monthly close process including preparing monthly reports and adjusting entries in sub-ledger • Assist in the preparation of quarterly and annual financial statements footnote disclosures associated with treasury accounting • Develop and execute testing plans for the implementation of new products and enhancements to treasury product accounting processes and systems • Guide and provide advice to Treasury front office as well as back-office staff on trade capture requirements to support appropriate accounting of transactions • Assist in CNTTR transaction processing, settlement, and cash related activities • Build and sustain effective relationships with internal and external partners and clients, including market counterparts, custodians, agents, and banks • Communicate effectively to share information and explain analysis within and outside the unit. • Contribute input to Corporation's internal and external auditor exercises. • Document and maintain processes, controls, and checks for treasury product accounting • Seek quality and performance improvement opportunities and solutions • Act as back-up in the absence of other CNTTR staff

IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.

The IFC Controllers Department (CNT) is responsible for effectively and efficiently managing IFC’s Financial Operations (loan, equity and short-term finance operations, and back-office treasury support operations), Financial Reporting (including portfolio review, investment accounting and accounting policy), Internal Controls, and Financial Systems, Integration and Projects. The Department comprises approximately 125 diverse and highly skilled staff, based in Washington DC, and Chennai.

IFC’s Treasury Financial Operations (CNTTR), within the IFC Controllers department, is a team of 14 staff that provide back-office and accounting functions for all IFC Treasury activities. The team is additionally responsible for processing all IFC’s cash transactions and for the monitoring and approval of the advisory fees and reimbursable expenses of the Investment Departments. CNTTR also provides operational support in the development of new business initiatives and products. CNTTR has co-located some aspects of its work program to WBG’s Chennai office to deliver its work program on a cross support basis. The team providing cross support interacts with IFC colleagues in Washington on a day–to–day basis and ensures that the service level agreement is met.

The Quality Assurance team within CNTTR is seeking an Associate Financial Operations Officer to join the small team of Treasury professionals. The Officer will provide strategic and tactical support for the Treasury support activities and will be responsible for proactively advising on technical accounting, metrics and controls, data mining and analysis, operational risk management, financial reporting, technology/automation development and knowledge/learning.

The Associate Financial Operations Officer position is based in HQ and reports to the Head of the CNTTR team. This is a technically specialized position that will provide accounting guidance to support processing and accounting operations of Treasury transactions. The position requires thorough knowledge of treasury products, and relevant accounting as well as proficiency in handling multiple systems, including Summit, the front-to-back treasury system, Quantum, the cash administration system, SAP etc. The suitable candidate will have a good understanding of controls and their application to treasury processes. The selected candidate will be required to work across the various team functions and become a fully functional team member within a short timeframe. The position requires the ability to establish productive relationships with staff at all levels within the team and with all units of the Corporation.

Duties and Responsibilities

• Perform daily and monthly sub-ledger control activities and analysis to ensure accurate and full recording of transactions in accordance with policies and procedures • Contribute to, and monitor timely and accurate monthly close process including preparing monthly reports and adjusting entries in sub-ledger • Assist in the preparation of quarterly and annual financial statements footnote disclosures associated with treasury accounting • Develop and execute testing plans for the implementation of new products and enhancements to treasury product accounting processes and systems • Guide and provide advice to Treasury front office as well as back-office staff on trade capture requirements to support appropriate accounting of transactions • Assist in CNTTR transaction processing, settlement, and cash related activities • Build and sustain effective relationships with internal and external partners and clients, including market counterparts, custodians, agents, and banks • Communicate effectively to share information and explain analysis within and outside the unit. • Contribute input to Corporation's internal and external auditor exercises. • Document and maintain processes, controls, and checks for treasury product accounting • Seek quality and performance improvement opportunities and solutions • Act as back-up in the absence of other CNTTR staff

Selection Criteria

• Advanced degree(s) in Accounting, Finance, and/or Economics and a minimum of 5-7 years’ relevant experience in accounting and pertaining to financial instruments, loan transactions, or equivalent combination of education and experience. • CPA/CA/ACCA and/or CFA preferred • Good knowledge of treasury product accounting • Good knowledge of treasury products and processing experience • Good knowledge of treasury back-office controls and reporting • Good knowledge of Summit system a distinct advantage • Ability to contribute to team performance with strong interpersonal and communication skills • Self-starting, highly disciplined and team-oriented individual with strong analytical and problem-solving skills • Fluency in written and spoken English required

Controllers Department Competencies

Client Understanding and Advising: Advises the clients and helps them think proactively about how to best meet their current and future needs, taking into considerations the real underlying issues. Works across CNT and with other VPUs to define client needs and develop the right solutions to meet those needs. PLUS: Provides recommendations to multiple VPUs that can add value to customers beyond normal offerings.

Broad Business Thinking: Maintains an in-depth understanding of key business issues. Sets clear explanations for the integration and alignment of CNT solutions with business functions. PLUS: consider WBG wide implications in decision making to ensure consistency across WBG. Sponsors long-term VPU-wide initiatives.

Information Technology and Systems: Demonstrates understanding of the functions and operations of pertinent IT systems and applications. Provides inputs to IT system enhancement efforts based on day to day working experience and knowledge of the systems.

Analytical Thinking: Coordinates the information gathering and reporting process. Reviews trends and compares to expectations. Conducts analysis to define problems and prepares responses to anticipated questions.

Policies and Procedures: Demonstrates thorough knowledge of policies and procedures in related fields.

Risks and Controls: Leads by example and serves as best practice champions in completing internal control procedures, including understanding impact beyond own immediate functional areas.

Communication: Adapts the communication style appropriate for the intended audience. Adopts an inclusive approach to communication as is appropriate to the situation, to ensure adequate stakeholder participation. Presents information effectively and encourages feedback.

Project Management: Understands and utilizes the concepts of project management, as they relate to the implementation of a project.

• Advanced degree(s) in Accounting, Finance, and/or Economics and a minimum of 5-7 years’ relevant experience in accounting and pertaining to financial instruments, loan transactions, or equivalent combination of education and experience. • CPA/CA/ACCA and/or CFA preferred • Good knowledge of treasury product accounting • Good knowledge of treasury products and processing experience • Good knowledge of treasury back-office controls and reporting • Good knowledge of Summit system a distinct advantage • Ability to contribute to team performance with strong interpersonal and communication skills • Self-starting, highly disciplined and team-oriented individual with strong analytical and problem-solving skills • Fluency in written and spoken English required

Controllers Department Competencies

Client Understanding and Advising: Advises the clients and helps them think proactively about how to best meet their current and future needs, taking into considerations the real underlying issues. Works across CNT and with other VPUs to define client needs and develop the right solutions to meet those needs. PLUS: Provides recommendations to multiple VPUs that can add value to customers beyond normal offerings.

Broad Business Thinking: Maintains an in-depth understanding of key business issues. Sets clear explanations for the integration and alignment of CNT solutions with business functions. PLUS: consider WBG wide implications in decision making to ensure consistency across WBG. Sponsors long-term VPU-wide initiatives.

Information Technology and Systems: Demonstrates understanding of the functions and operations of pertinent IT systems and applications. Provides inputs to IT system enhancement efforts based on day to day working experience and knowledge of the systems.

Analytical Thinking: Coordinates the information gathering and reporting process. Reviews trends and compares to expectations. Conducts analysis to define problems and prepares responses to anticipated questions.

Policies and Procedures: Demonstrates thorough knowledge of policies and procedures in related fields.

Risks and Controls: Leads by example and serves as best practice champions in completing internal control procedures, including understanding impact beyond own immediate functional areas.

Communication: Adapts the communication style appropriate for the intended audience. Adopts an inclusive approach to communication as is appropriate to the situation, to ensure adequate stakeholder participation. Presents information effectively and encourages feedback.

Project Management: Understands and utilizes the concepts of project management, as they relate to the implementation of a project.

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.

Added 1 year ago - Updated 1 year ago - Source: worldbank.org