Financial Operations Analyst

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. For more information, visit www.ifc.org.

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

The Treasury Support Operations Division (CNTTR) within IFC Controller 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.

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.

CNTTR 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 (CNTTS) to deliver this work program. The team provides support and interacts with IFC colleagues in Washington on a day–to–day basis. IFC Controllers Department is seeking a Financial Operations Analyst in the IFC Treasury Support Operations unit in Chennai (CNTTS). This technically specialized position will support the processing operations of Treasury transactions, including bonds, derivatives, etc. The position requires a working knowledge of treasury products, and relevant accounting standards, as well as proficiency in handling multiple systems, including Summit (the front-to-back treasury system), payment processing systems, etc. The selected candidate 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. The incumbent will report to the Associate Financial Operations Officer in CNTTS, Chennai. The staff should be open to flexible hours and follow the Washington D.C. (HQ) holiday calendar, as the work program involves dealing with global markets.

Responsibilities:

• The Analyst will work as part of a team of professionals to meet the group’s responsibilities as they relate to the delivery of back-office and accounting functions for all IFC Treasury activities.  Responsibilities will include the following, including –
• Perform daily and monthly sub-ledger control activities and analysis to ensure accurate and full recording of Treasury transactions in accordance with policies and procedures
• Assist in timely and accurate monthly close process, including preparation of monthly reports and adjusting entries in sub-ledger
• Assist in the preparation of quarterly and yearly financial statement disclosures related to the Treasury
• Engage in discussions with Treasury front office as well as back-office staff on trade capture requirements to support appropriate accounting of transactions
• Execute testing plans for the implementation of new products and enhancements to treasury product accounting processes and systems
• Contribute input to the Corporation’s internal and external auditor exercises
• Document and maintain processes, controls, and checks for treasury product accounting
• Seek quality and performance improvement opportunities and solutions
• Act as a backup in the absence of other Treasury Support unit staff

Selection Criteria:

• Advanced qualification in Finance or Accounting -Chartered Accountancy (CA/CPA) is mandatory
• Minimum 4 years experience in related fields with a public/private financial institution 
• In-depth knowledge of treasury accounting, back-office processes, controls and reporting
• Good knowledge of fixed income and OTC derivative instruments related to capital market and investment operations
• Good knowledge of trade verification, settlement of treasury products
• Good working knowledge of Summit, Quantum, SAP, and other Treasury transaction system
• Ability to contribute to team performance with strong interpersonal and communication skills
• Highly disciplined and team-oriented individual with strong analytical and problem-solving 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 consideration 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 systems improvement 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 them to expectations. Conducts analysis to define problems and prepares responses to anticipated questions.
• Policies and Procedures: Demonstrates detailed knowledge of policies and procedures in related fields.
• Risks and Controls: Leads by example and serves as a good practice champion 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 partner participation. Presents information effectively and encourages feedback.
• Project Management: Understands and utilizes the concepts of project management, as they relate to the implementation of a project.

Source: https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=27594&site=1