E T Consultant

Contract

This is a World Bank Group grade: EC1 contract. More about World Bank Group grade: EC1 contracts.

E T Consultant

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. 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 WB’s corporate expenses.

Organizationally, WFA is comprised of three departments: (1) Corporate Accounting and Reporting, (2) Trust Funds and Loans, and (3) Financial Controls. In WFA, our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.

WFAPA:

Within WFA, WFA Accounts Receivable, Payroll and Tax division (WFAPT in HQ and WFAPA in Chennai) is be responsible for ensuring that (i) accounts receivable are recorded, monitored and collected in a timely and efficient manner, (ii) salary and benefit payments to the WBG staff are processed in a timely and efficient manner, and (iii) tax allowances to the WBG staff and retirees are processed in a timely and efficient manner. It also provides strategic leadership and guidance to business units across the WBG on developing and maintaining an effective system of internal controls over AR, payroll, and tax.

The WFAPA is currently seeking an Extended Term Consultant for its Tax team in Chennai. The Tax team administers tax allowances on World Bank Group compensation and tax supplements on Net Staff Retirement Plan pension payments in accordance with tax laws and WBG policies. Among other responsibilities, the Tax team is involved in the development and modification of tax policy, manages the Tax Allowance Budget, executes all tax payments, monitors corresponding financial data and actively participates in discussions and decisions on tax matters relating to the World Bank Group compensation and pension. The Tax team is also involved in the research of national tax laws and evaluation of World Bank Group agreements with member countries to determine the tax implications on World Bank Group emoluments and pension. Additionally, the Tax team ensures that the tax allowance/supplement policies are applied to staff members on a consistent and equitable basis.

How your contributions will help us achieve our goals

The Extended Term Consultant will partake in multiple areas of responsibilities which include Process U.S. tax allowance, Manage U.S. citizen staff tax transactions, responding to staff queries through tax service desk vie emails and phone and Analyze/research/act on requests/queries related to tax allowance.

The Extended Term Consultant will report to the Accounting officer.

What you will do:

The External term Consultant functions as a technical staff and performs a variety of tasks, his/her responsibilities include but not limited to the following:

• Process U.S. tax allowance via PeopleSoft Tax Allowance system. This includes, but is not limited to, verify and analyze quarterly tax allowance calculations/payments and prior year tax allowance reconciliations.

• Manage U.S. citizen staff tax transactions, verifying their status through HR-PeopleSoft, their payroll earnings through Payroll-PeopleSoft and any other non-payroll taxable earnings through SAP-AP, to ensure that earnings are in accordance with the Bank Staff Rules, to quality check their integrity and accuracy and to ensure that they are included in the tax allowance calculations in accordance to Staff Rule 6.04.

• Verify tax certificates submitted by staff (Form 70) in order to determine current year tax allowances and necessary adjustments to prior tax allowance payments.

• Manage Safety Net transactions, analyzing the tax returns against the World Bank Group Tax System considering Bank Group policy and IRS and state tax regulations.

• Monitor the Tax exception reports to detect anomalies in the tax allowance payments that require research and correction.

• Analyze/research/act on requests/queries related to tax allowance payments, earnings, and deductions, engaging in discussion as needed to understand and determine actions required.

• Provide support to staff by responding and managing Tax Office phone calls and emails queries.

• Coordinate tax allowance related matter with overseas staff who are either on extended or short-term assignments.

• Provide guidance to Accounting Assistants in the processing and verification of tax allowances.

• Identify process improvements, participate in Tax-related projects, and provide testing support for the system enhancements.

• Work with Accounting Officer on tasks such as analyze tax laws/policy related matters and determine necessary changes to the tax allowance calculations and tax system; and analyze accounting data to ensure integrity of the WBG’s financial records.

• Manage the monthly and quarterly reports for the unit.

• Review and update the procedure manuals as and when required.

Selection Criteria

What you will bring:

Education:

• Bachelor’s or Master’s degree in a relevant discipline (Ex. Finance, Accounting, Taxation.

• Specialized degree or certification required for functional area (Ex. US Taxation, AML/CFT, CIA)

Technical qualification

Experience:

• Minimum of 5 years of work experience in the functional area.

• Specialized degree or certification required for functional area (Ex. US Taxation, AML/CFT, CIA)

• Technical qualification or certification that may be desirable (Ex. Six Sigma, PMP certification).

Knowledge and Skills:

• Strong knowledge of tax calculation, impact of different calculation elements in final tax allowance results.

• Thorough understanding of U.S. Accounting Standards and Generally Accepted Accounting Principles.

• Experience in financial data verification utilizing accounting systems.

• Proficiency in Microsoft Windows applications, namely Excel, Word and Power Point, including advanced spreadsheet design, manipulation, and analysis skills.

• A proven track record of problem-solving in an automated accounting environment; experience with SAP, PeopleSoft system is desirable, but not required.

• Strong client focus, flexible, and excellent team player.

• Deliver Results for clients – Proven track record of timely and high-quality service delivery, handling escalations, and advisory support.

• Staff rules and procedures – Sound knowledge of rules, policies and procedures that relate to area of work.

• Communication – Excellent verbal and written communication skills, including the ability to present ideas in a clear and concise manner. Good presentation skills.

• Analytical thinking – Excellent analytical skills with ability to collate and interpret data, assess issues, develop sound conclusions, formulate remedial measures with attention to detail and accuracy.

• Make Smart Decisions - Excellent judgment, and the ability to thrive in a multidimensional, multi-functional work environment.

• Collaboration - Ability to effectively work with various levels of staff within the department and across the institution; maintain continuous, open, and consistent communication with all stake holders.

• Project Management – Ability to lead and manage small automation projects/initiatives.

• Lead and Innovate – Demonstrated ability to identify areas of improvement and enhancements to policies, processes, procedures, and systems.

• Digital dexterity -

o Sound knowledge of WBG core functional systems and processes

o Sound knowledge of data and analytical tools like MS-Excel, PowerBI, Tableau

o Sound knowledge of reporting tools such as MS PowerPoint, MS Word.

o Good understanding of process improvement techniques and tools (Lean, Six sigma)

o Good understanding of automated solutions like RPA, AI/ML etc.

Abilities:

• Demonstrated ability to learn new technology quickly and effectively use it for maximum productivity.

• Ability to deal sensitively in multi-cultural environments and build effective working relations with clients and colleagues.

Outstanding interpersonal skills with ability to collaborate and deal with tact with staff at all levels.

Proven ability to multi-task, meets tight deadlines, and attention to details.

World Bank Group Core Competencies

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.

Note: The selected candidate will be offered a one-year appointment, renewable at the discretion of the World Bank Group, and subject to a lifetime maximum ET appointment of three years. If an ET appointment ends before a full year, it is considered as a full year toward the lifetime maximum. Former and current ET staff who have completed all or any portion of their third-year ET appointment are not eligible for future ET appointments.