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. Our mission is to leverage the power of the private sector to end extreme poverty and boost shared prosperity on a livable planet.

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 Controller’s provides back-office and accounting services for all IFC Treasury activities. CNTTR also provides 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.

IFC Treasury Support Operations unit in Washington DC (CNTTR) is seeking a Consultant (ETC) to support confirmations and processing of Treasury transactions, including bonds, derivatives, etc. The position requires thorough knowledge of treasury products, and particularly ISDA derivatives trade confirmation, as well as proficiency in handling multiple systems, including Summit (the front-to-back treasury system), Quantum, the cash processing system, etc. The Consultant will be required to work with 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 across various units of IFC. 

Duties & Accountabilities:

The Consultant will work as part of a team of professionals to meet the group’s responsibilities as they relate to delivery of back-office and accounting functions for all IFC Treasury activities. Responsibilities will include the following: 

•  Perform trade verification and settlement activities for Treasury transactions, including but not limited to bonds, futures, options, swaps, money-market, and other cash instruments.
•  Carry out processing and validation activities for ISDA contracts for OTC derivatives.
•  Perform trade servicing activities, including flow analysis, validation and processing, reconciliation and troubleshooting of the settlements. This task involves interfacing with market counterparts, custodians, banks, and internal partners as needed.
•  Investigate and close out all unresolved settlement discrepancies.
•  Prepare and process a suite of SWIFT messages that support Treasury transactions.
•  Perform transaction analysis and propose system updates for operations and reconciliation activities.
•  Build and sustain effective relationships with internal and external partners and clients, including market counterparts, custodians, agents, and banks.
•  Communicate effectively with IFC Treasury Support Staff and management both in Chennai and in Washington, D.C. (HQ) on the status of all assigned activities.
•  Act as back-up in the absence of other Treasury Support Unit staff, as and when required.

 

Selection Criteria

 

•  Bachelor’s degree in accounting, Finance or Business Administration with a minimum of 5 years’ experience in various Treasury operations functions such as trade confirmation, settlements, ISDA documentation, etc.  Master’s degree in related field is a plus.
•  Three or more years of experience in related fields with a public / private financial institution (including IFC/IBRD) or the finance / treasury function of a public / private corporation. Proven track record in previous position.
•  Good working knowledge of Summit (treasury system), Quantum (cash system), SWIFT and other settlement or confirmation systems is a strong plus.
•  Competent in office technology tools, including Word, Excel, and Power Point.

Core Technical Knowledge
•  In-depth knowledge of fixed income and OTC derivative instruments related to capital market and investment operations.
•  Good knowledge of trade verification, ISDA documentation, settlement, and accounting processes, in relation to treasury products.
•  Ability to contribute to team performance with strong interpersonal and communication 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

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