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Senior Financial Assistant

World Bank Group

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Job Description

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Description

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The Financial Operations unit (CNTFO) within the IFC Controllers Department has overall responsibility for recording, servicing, and providing post-commitment support for the private sector loan, guarantee, short-term finance products and programs, and the equity investments of the International Finance Corporation, and has several units that deliver this work, namely Loan Operations (CNTLO), Equity and Custody Operations (CNTEC), Blended Finance Operations (CNTBF), and Quality Assurance (CNTQA).

CNTFO provides financial operations support and services to the IFC Investment Departments, counterparts, internal and external financial and investment reporting units, syndication and treasury units, and portfolio management units, in the administration and management of all IFC Loan, Guarantee, Equity, and Development-Partner-Trust Funds financial operations. CNTLO administers and manages all IFC loan financial operations which includes processing and monitoring transactions such as straight senior loans, syndications, bonds, and guarantees risk participation.  CNTEC provides customer services to the investment departments and external clients through the servicing and accounting of IFC’s equity investments. CNTBF administers and manages all blended finance operations. CNTQA is responsible for quality control over the recording of loan and equity transactions, through data mining and analysis, review of metrics and controls, and coordination across units to address data quality and control gaps.    

The units ensure that loan and guarantee agreements, equity investments, and Development-Partners-trust-fund investments are recorded accurately and timely in the Corporation’s systems of record and general ledger. The units play a key role in the decision-making for, and implementation of, IT systems and upgrades, as well as in the implementation of new initiatives and financial products to ensure that data is recorded accurately and timely.

CNTFO has co-located some aspects of its work program to IFC’s Chennai Office (CNTCO), which have recruited staff in the IFC Financial Operations Support team (CNTFC) to deliver this work program. The team provides support and interacts with IFC colleagues in Washington on a day–to–day basis. The Senior Financial Assistant shall interact extensively with internal partners, such as Loan Operations counterparts, Middle Office Operations team, Investment operations, Syndications Unit, IT teams, Treasury Support, and the IFC Financial Reporting team. The Senior Financial Assistant will report to the Team Lead of the CNTFC Loan & Equity unit in Chennai. The individual must be a self-starter in identifying and undertaking projects or initiatives.

Roles and Responsibilities:

The Senior Financial Assistant is a key member of the team, providing operational and administrative support for the IFC’s Loans and Equity operations. This role requires frequent interaction with internal counterparts in CNT, Treasury, Middle Office Operations team, Investment operations team, Budget team, Syndications team, Internal Controls, and external auditors. 

  • Participate in the execution of end-to-end servicing of Short-Term Finance processes and ensure effective communication and coordination with all the related parties
  • Review project agreements to ensure accurate booking of product-project commitments in IFC systems
  • Processing disbursements for various Short Term Finance products
  • Review and signing of monthly/quarterly/semi-annually or annual bills to IFC’s borrowers
  • Provide financial operations support to Investment and middle office departments in day-to-day operations related to booking of IFC Short-term finance products like loans, guarantees by transaction posting, dispatch of bills, settling client payments, system reconciliation between Ops system and accounting system, tracking client arrears 
  • Processing of client’s payments related to Loans, Guarantees, counter guarantees, and short-term finance products
  • Monitor project payments and ensure accurate, timely transaction posting about commitments, disbursement and payment status, account updates, periodic reconciliation, and compliance for IFC’s short-term finance portfolio
  • Assist in the preparation of periodic reconciliation, reports, and GL analysis, in IFC systems by providing necessary documentation and support
  • Support a wide range of new product initiatives by assessing and advising on the impact of such initiatives on processes in close coordination with CNTLO/EC, CNTBF, the Quality Assurance team, the IT support team, and Investment operations team
  • Reconcile and articulate accounting issues related to transaction postings in IFC systems, SAP, and ODS
  • Support the department’s various existing and future business automation, transformations, and big-ticket institutional projects like loan system replacement, Quantum Upgrade, Core operations system replacement, and Swift Upgrade in close coordination with HQ counterparts, different stakeholders, and the IT support teams
  • Guide internal and external clients regarding transaction processes, procedures, and IFC’s corporate policies
  • Provide backup support to the team including loan and donor fund operations during high-volume periods to ensure smooth operations delivery
Selection Criteria:
  • Bachelor’s Degree preferably with a major in business administration, accounting, finance, or international trade finance
  • Minimum 2 years experience in related fields with a public/private financial institution
  • Knowledge of IFC systems, procedures, and policies shall be advantageous. (IFC uses SAP, ACBS, Investran, Quantum, SWIFT application, and iPortal systems)
  • Ability to contribute to team performance with strong interpersonal and communication skills with attention to detail
  • Dedicated teammate with excellent organization skills and ability to interact tactfully and professionally with clients and staff at all levels
  • Ability to deliver quality results under pressure, and with limited direct supervision
  • Excellent problem-solving and analytical skills
  • Solid skills and knowledge of the latest information office technology, and relevant business tools. Highest ethical and business conduct standards
  • Fluency in written and spoken English required. Fluency in another WBG working language is a plus

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