Financial Analyst

tendersglobal.net

Job 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.
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 Controller’s our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.
The WBG Trust Fund and Loan Operations Department (WFATL) in WFA provides several financial operation activities, notably financial services, compliance, disbursements, accounting, reporting, and analytics for IBRD/IDA loans and Trust Funds.
WFATF, a division within WFATL is focused on supporting both the WBG’s Trust Funds and Loans portfolios, for example, providing advice on the design and implementation of new trust funds or loans, policies, or processes, as well as many activities associated with the implementation and closure of loans or trust funds, including account creation and maintenance, disbursement transactions, trust funds and loans accounting and reporting and helpdesk functions.
WFATF division operates out of three locations – DC, Chennai, and Manila.  The team in Chennai and Manila (WFATN), comprise two sub-teams viz., (i)Trust funds accounting clearance and Fiduciary & Controls team and (ii) Trust Funds accounting and reporting.  Together, the Division provides end-to-end support for WBG Trust Funds, in terms of, Providing upstream advice to Bank teams and influence the design of new Trust funds to ensure compliance with fiduciary, reporting, internal control requirements and best practices.
  • •  Support, help design, and ultimately implement and account for new and emerging trust funds, in addition to the existing trust fund portfolio.
  • •  Ensure the accuracy and integrity of the Trust Fund modules, financial ledgers and related interfaces, which capture all TF activities.
  • •  Report on Trust Fund accounts at the individual account and portfolio level through, audited/un-audited financial statements, management reports, analyses and trends for corporate reporting, donor specific reports, etc.
  • •  Maintain/enhance/develop underlying systems, tools and applications to cater to the changing business needs.
This is an advertisement for a Financial Analyst, in the Trust Funds team in Chennai (WFATN).  This position reports to the Trust Funds Accounting Clearance and Fiduciary Controls Team Lead in Chennai.
How your contributions will help us achieve our goals:
  • The Financial Analyst will be responsible for executing centralized accounting processes, ensuring trust fund financial ledgers are fully reconciled and in sync with all business applications that record/generate trust fund financial transactions. You are expected to contribute to continuous improvement and process enhancement initiatives. You are also expected to work with the external auditors by providing supporting documentation and monitor exception reports and resolve inconsistencies, if any.      
What you will do:
  • Execute centralized accounting processes, such as investment income allocation to individual trust funds, administration fee recovery, intercompany billing, computation and remittance of TF revenue to IBRD, settlement of dues to IBRD for payments made on behalf of trust funds, etc., in a timely and accurate manner.
  • Carry out periodic financial control activities, such as system interface reconciliations and monitoring of suspense and Inter-business unit accounts.
  • Perform critical month-end closing/year-end closing activities such as accounting model reconciliation, review of key accounts, business table reconciliations, trial balance analysis, revaluation, carry forward etc., and ensure month-end/year-end close per production schedule.
  • Compute and remit the administrative fee earned to IBRD; Provide quarterly analysis of deferred administrative fees to IBRD for financial reporting.
  • Ensure weekly settlement of dues to IBRD for payments made on behalf of trust funds.
  • Create GL accounts in TF company codes per request from BUs and map them to appropriate report types to facilitate accurate reporting
  • Create and maintain posting rules for trust fund ledger postings
  • Periodic review of SAP roles for WFATN and coordinate for changes to, or obtaining new SAP roles for staff
  • Support half-yearly budget reorganization activities
Process improvements & automation projects:
  • Lead/Participate in automation projects and coordinate with technical teams on system changes, bug fixes, enhancements and testing
  • Contribute to the continuous improvements and process enhancement initiatives surrounding
  • Trust Fund processes aimed at simplification and/or enhancements to process quality and controls;
  • Provide inputs and actively participate in various institutional projects;
Others:
  • Provide a variety of metrics / charts to be included in overall departmental operations report to measure progress of operations at Chennai vis-a-vis agreed norms for management information and action;
  • Coach and mentor junior team members.
Selection Criteria
What you will bring:
Education & Experience:
  • Chartered Accountant or Certified Public Accountant
  • 3 to 5 years post qualification experience
  • Proven working experience on accounting and reporting processes using automated accounting systems preferably SAP;
Knowledge and Skills:
  • Demonstrated good judgmental and analytical skills;
  • Excellent problem-solving skills;
  • Proficiency in SAP and Microsoft Office tools;
  • Good interpersonal and communication skills (both written and oral);
Source: https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=25670&site=1

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