Financial Operations Analyst

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Description

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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 in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. 

The IFC Controllers Department, CNT 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 Integration, Systems, and Projects. The Department comprises approximately 130 diverse and highly skilled staff, based in Washington DC, and Chennai. 

The Financial Operations Division (CNTFO) within the 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. Financial Operations consists of four units – CNT Loan Operations (CNTLO), CNT Equity and Custody Operations (CNTEC), CNT Blended Finance Operations (CNTBF), and CNT Quality Assurance (CNTQA). The CNTFO team is in Washington DC (HQ) and Chennai, India, delivers its work program in a follow-the-sun model, and ensures that support operations are successfully delivered.

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.

CNTLO/CNTQA has co-located some aspects of its work program to IFC’s Chennai Office (CNTCO), which has 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 Financial Analyst shall interact extensively with internal partners, such as Loan & Equity Operations counterparts, Trust Funds Middle Office, IT teams, the Cash Settlement unit, and the IFC Financial & Management Reporting team. The Finance Analyst 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.

Responsibilities:

The Financial Analyst is a key member of the team, providing Accounting and Quality Assurance support for the IFC’s Loans, Guarantee, and Equity operations. This role requires frequent interaction with internal counterparts in CNT, Treasury, Investment operations team, Syndications team, Internal Controls, and external auditors. They will be supporting the CNTQA work program from Chennai, including

• Analysis and reporting of pre-month-end and post-month-end key control related to Loans operations
• Oversee and perform tests on control effectiveness and accuracy based on regulatory requirements, and internal policies and procedures
• Identify KPIs and KRIs, establish thresholds, monitor the actual results, and coordinate with CNTFC Team Lead and HQ Quality Assurance Senior TL
• Support in querying and providing metrics for ad-hoc business requirements to facilitate management decision-making, using reporting tools like Power BI, Alteryx, etc
• Participate in process reviews, from a control’s perspective, about new products/ initiatives and advise process owners on process/control improvements
• Review and posting of prior period transactions of both Loans and Equity through Post Closing Adjustment Layer (PCAL) system
• Daily review of Loan GL rejects and posting correcting entries in both ACBS (IFC Loan accounting system) and SAPGL
• Review the accuracy of system-to-system data feeds and trial balance analysis as part of month-end closing
• Quarterly portfolio reporting of loan and equity projects to stakeholders including financial and management reporting teams
• Liaise with internal stakeholders to ensure projects are booked and processed correctly and unique reporting requirements are met
• Perform reconciliation and identify transaction processing anomalies (BADJ) and suggest corrective measures and entries
• Support the department’s various existing and future business automation, transformations, and institutional projects such as Loan System Replacement (LSR), Quantum Upgrade, Investran Upgrade, Core Operations System Replacement, Swift Upgrade in close coordination with HQ counterparts, different stakeholders, and the IT support teams from an accounting standpoint
• Participate in the assessment, design, and implementation of a new GL framework for IFC investment products such as Loans, Guarantees and Equity Products

Selection Criteria:

• Bachelor’s degree in Finance or Accounting – Chartered Accountancy (CA/CPA) is mandatory
• Minimum 4 years experience in related fields with a public/private financial institution   
• Knowledge and experience in key financial products such as Loans, Guarantees, Equity investments, bonds, swaps, and options are advantageous
• Proficiency in reporting tools and querying like Alteryx, Power BI, Crystal reports, etc
• Competence in office technology tools with advanced Excel skills and conversant with SQL and data analysis
• Experience and knowledge of IFC accounting systems such as ACBS, SAP, Quantum, Investran, and iPortal is advantageous
• Demonstrated strong judgmental/analytical skills
• Demonstrated strong interpersonal skills to interact effectively with colleagues and various levels of client staff and management
• Demonstrated ability to analyze business and accounting problems and provide solutions
• Effective communication skills in English, including strong writing, editing, and reporting skills
• Comfort working in a time-pressured environment with a capacity to deliver high-quality outputs and results to tight deadlines
• Ability to multitask and work effectively in multidisciplinary teams; and
• High degree of self-motivation and proven ability to work under minimum supervision and as part of a team

Source:   https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=27051&site=1

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