Associate Financial Operations Officer

Contract

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 2023, IFC committed a record US$43.7 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 global compounding crises. For more information, visit www.ifc.org.

The IFC’s Controllers Department 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 reporting and analysis, 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.

The Treasury Support Operations Division (CNTTR) within IFC provides back-office and accounting services for all IFC Treasury activities. CNTTR is additionally responsible for processing and accounting all IFC cash transactions, capital share transactions, and operational support in the development of IFC Treasury’s new business initiatives and products. The CNTTR team is in Washington DC (HQ) and Chennai (India) and delivers its work program on a cross support basis. The team providing cross support interacts with colleagues in Washington on a day–to–day basis and ensures that the support operations are successfully delivered.

The Quality Assurance team within CNTTR is seeking an Associate Financial Operations Officer to provide strategic and tactical support for the Cash administration activities and will be responsible for proactively advising on cash processing operations, 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 position will provide technical guidance to support processing and accounting operations of IFC cash activities such as bank reconciliation and investigation. This position requires good knowledge of treasury products, loans, equity, accounting, as well as proficiency in handling multiple systems relevant to CNTTR’s businesses. The suitable candidate will have a good understanding of controls and their application to the cash administration 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 & Responsibilities:

The CNTTR Associate Financial Operations Officer responsibilities will include the following:

• Guide and provide advice to internal and external parties on accurate and complete processing and accounting of IFC cash activities.

• Contribute to and monitor timely and accurate monthly close process including preparing monthly reports and adjusting entries in accounting system.

• Monitor the day-to-day payment flows of the operational cash and transactions timely and accurate of all IFC cash accounts.

• Manage, investigate, and close out all unidentified funds in collaboration with IFC business units and correspondent banks.

• Review overdraft reporting and bank charges analyses.

• Review all incoming SWIFT inquiries and take appropriate actions; respond to all inquiries in a timely and professional manner.

• Demonstrate thorough understanding of the cash system’s functionalities and handling of system set-up and maintenance requirements.

• Actively participate in troubleshooting of technical issues, identifying process improvement and solutions including developing and executing testing plans for the implementation of new products and enhancements to cash processing systems.

• Communicate effectively to share information and explain analysis on processing and accounting of cash transactions within and outside of the unit.

• Develop and review analysis of various reports and metrics of cash transactions.

• Develop and execute testing plans for the implementation of new transactions and enhancements to cash processes and systems.

• Perform system administration tasks.

• Build and sustain effective relationships with internal and external partners and clients, including banking institutions.

• Contribute to input to Corporation's internal and external auditors’ exercises.

• Document and maintain processes, controls, and checks for cash processing and accounting.

• Seek quality and performance improvement opportunities and solutions.

• Act as back-up in the absence of other CNTTR staff.

Selection Criteria

• Master's degree(s) in Accounting, Finance or Business Administration and a minimum of 5 years relevant experience in accounting, cash administration, investigation, client service, banking administration, or equivalent combination of education and experience.

• CPA/CA/ACCA and/or CFA preferred.

• Good knowledge of treasury, loan or equity product operations and accounting.

• Good knowledge of cash administration controls and reporting.

• Good knowledge of Quantum (a cash system), Summit (a treasury system), SWIFT (a payment and messaging system), and SAP (an accounting system) are a distinct advantage.

• Ability to contribute to team performance with strong interpersonal and communication skills.

• Highly disciplined and team- oriented individual with strong analytical and problem-solving skills.

• A positive and self-starter attitude (motivation, drive, initiative); and ability to work in a team-oriented, and multi-cultural environment.

• Fluency in written and spoken English is 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, so as to ensure adequate stakeholder participation. Presents information effectively and encourage feedback.

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