World Bank
tendersglobal.net
Finance Analyst, Trust Fund Accounting
| Job #: | req25340 |
| Organization: | World Bank |
| Sector: | Finance & Accounting |
| Grade: | GE |
| Term Duration: | 4 years 0 months |
| Recruitment Type: | Local Recruitment |
| Location: | Washington, DC,United States |
| Required Language(s): | English |
| Preferred Language(s): | English |
| Closing Date: | 1/14/2024 (MM/DD/YYYY) at 11:59pm UTC |
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 WBs 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.
Unit Overview
Within WFA, the Loan Accounting and Trust Fund Division (WFAAS) directly serves both WBG Trust Fund portfolios and the IBRD & IDA loan portfolios, and the.
As it relates to Trust Funds, the team supports the entire end-to-end TF lifecycle of portfolios held by IBRD/IDA, IFC, MIGA. This involves providing upstream and downstream advice and guidance on finance, policy, TF design, financial reporting, day to day accounting, and internal controls at the individual TF account level and at the corporate level.
As it relates to the IBRD/IDA loans business, the team is directly responsible for the accuracy and completeness of the IBRD and IDA loan ledgers, overseeing quarterly loan ledger closings, and supporting the IBRD/IDA external audits. In addition, the division is responsible for servicing borrowers debt repayments, monitoring overdue status, and directly engaging with operational teams to facilitate timely repayments. The division is also a focal point for preparing and researching loan portfolio queries and requests from senior management and is also engaged upstream in supporting and operationalizing new products, policies, and corporate initiatives.
The team is also accountable for ensuring strong internal controls over financial reporting for both trust funds and loan accounting. The team also maintains and enhances trust fund related systems and workflows which serve the Banks TF business and operationalizes new products and requirements into related loan accounting and trust fund applications and workflows.
The division regularly works directly with colleagues in IBRD/IDA corporate finance units and Operations including DFI, TRE, WFA, LEG, CRO, Senior Management, ED offices, in addition to the external auditors, IFC, MIGA and other MDBs.
The division is located in three locations: HQ, Chennai, and Manila. WFAAS is currently seeking a Financial Analyst to support the TF team in Washington, DC.
How your contributions will help us achieve our goals:
The Financial Analyst will contribute to the Divisions responsibilities related to the WBG Trust Fund Business specifically by supporting institutional and division level corporate projects, translating business needs into design specifications and testing. In addition, the Analyst will support controls monitoring and risk mitigation, resolution of issues, and external financial reporting.
What you will do:
Project Management:
Support the divisions contributions to corporate initiatives and projects. Participate in design, development/implementation and testing of new business processes and systems.
Business process and Controls Monitoring:
Monitor the operation of TF business processes, accounting process, internal controls as well as systems. Provide analysis of issues identified and work with relevant stakeholders to solve on timely basis.
Controls, Reporting and day to day accounting:
Support the annual TF Single Audit production work and preparation of related analyses and control reviews. Engage with other teams and external auditors to address queries.
Closely monitor the issues identified in investment income accounting process. Coordinate with key stakeholders such as ITS, TRE and DFI to solve those issues on timely basis.
Provide business analysis and/or data analysis to support advisory on new products and initiatives.
Selection Criteria
What you will bring:
Education & Experience:
CPA or equivalent designation
Minimum 7 years post qualification experience in a corporate accounting setting, and hands on experience in an accounting production environment
Experience in financial services industry with preference towards experience in an international multilateral organization
Preferable: Big Four or equivalent public accounting experience is advantageous
Knowledge and Skills:
Strong knowledge of U.S. GAAP and proficiency with researching and applying accounting standards
Strong knowledge of and practical experience in designing, implementing and evaluating internal controls over day-to-day processes and financial reporting related tasks
Preferable: Knowledge of the World Banks loan products and policies is advantageous
Preferable: Knowledge of the World Banks Trust Funds business is advantageous
Hands on experience with an ERP system with strong preference to SAP experience
Demonstrated and proven attention to details is required
Abilities:
Strong communication skills, including the ability to explain and express views clearly and confidently
Ability to deal sensitively in a multi-cultural environment and build effective working relations with clients and colleagues
Excellent interpersonal skills and discretion in dealing with internal and external clients
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 theWorld BankandIFC, including our values and inspiring stories.
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