Senior Financial Officer

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 Operations. In WFA, our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.

The Corporate Reporting and Analysis Division, part of the Corporate Accounting and Reporting department, is co-located in Washington, DC (WFACR) and Chennai, India (WFACC) and is responsible for all aspects of the financial reporting of IBRD and IDA. This includes quarterly and annual financial statements, management reporting and the monthly closing of the ledgers as well as capital accounting and the approval functions of all IDA Capital accounting transactions. The team’s roles and responsibilities provide a holistic understanding of the financial dynamics of the institutions. The team is strategically positioned with high visibility and ability to assess the impact of market and institutional developments on the financial results of the institutions.

Corporate Reporting and Analysis (WFACC) is currently seeking a Senior Financial Officer for its team in Chennai, India. 

How your contributions will help us achieve our goals:

The Senior Financial Officer plays a lead role in undertaking and overseeing the corporate reporting responsibilities of the Chennai team, provides leadership, guidance, and functional oversight to the WFACC team, effectively communicates the vision for the team and the roadmap for achieving that vision. Linking that vision to the broader WFA goals and in turn, the goals for the WB.

The Senior Financial Officer will report to the Division Manager located in Washington, DC and administratively to the WFA Manager in Chennai.

What you will do:

• Develop a work plan for the WFACC team within the overall Corporate Reporting and Analysis work program and determine resource requirements to deliver on the plan.
• Provide technical expertise and institutional knowledge in the WFACC team’s key areas of responsibility, as outlined above.
• Adequately resource the team through timely recruitment and onboarding of approved headcount and additional resources as required. Plan skills and knowledge development for the team through on the job and external training, to ensure both staff development and the effective execution of the work plan.
• Responsible for Performance management of the team. Conduct staff performance evaluations, provide coaching, and monitor and adjust staff work programs as necessary.
• Within the established framework, take initiative to improve processes and approaches, demonstrating adaptability to changing priorities and demonstrating innovative technical leadership.
• Interact with Corporate Reporting and Analysis stakeholders in Chennai, ensuring a high degree of partnership and collaboration. Leverage the team’s experience and holistic understanding of IBRD and IDA to provide value add services to clients and stakeholders.
• Identify challenges and opportunities for improvement in current control and work processes and coordinate with DC team to devise solutions.
• Lead, supervise and plan implementation of changes, including the business side of SAP Capital Accounting changes.  Support system changes by reviewing specifications for systems enhancements and ensuring that testing is adequate, and all problems are documented and addressed/resolved.
• Provide thought leadership in supporting the WFACR Manager in achieving business objectives in an effective and transparent manner.
• Provide administrative oversight of the WFA Risks& Controls unit based in Chennai.

Selection Criteria:

Education and Experience:

• Chartered Accountant with a minimum of 8 years of post-qualification experience.
• Bachelor’s degree in finance, Accounting or relevant discipline
• Big Four or equivalent reporting/audit experience would be advantageous
• Experience with a financial institution is a plus
• Master’s in finance, Accounting or relevant discipline is a plus.

Knowledge and Skills:

• Strong knowledge of U.S. GAAP and proficiency with researching accounting literature
• Preferable: Understanding of the overall financial dynamics of the World Bank would be advantageous along with knowledge of IBRD’s Capital framework.
• Hands on experience in statutory and management reporting for a financial institution
• Working knowledge of one or more complex, highly integrated accounting systems, and financial reporting tools such as Wdesk.
• Strong knowledge of and experience with internal controls over financial reporting

Source:  https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=26789&site=1