Senior Financial Operations Officer

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. Our mission is to leverage the power of the private sector to end extreme poverty and boost shared prosperity on a livable planet.

The Controllers Department (CNT) is housed within the Risk & Finance Vice Presidency Unit CRFVP) and is IFC’s key leader responsible for reporting on financial matters to IFC’s senior leadership and board of directors. Within CNT, the Financial Operations Division (CNTFO) has overall responsibility for recording, servicing, and providing post-commitment support for the private sector loan, guarantee, short term finance products and programs, equity investments, and donor funds.  The CNTFO team is based in Washington DC (HQ) and Chennai, India, and delivers its work program in a follow-the-sun model which ensures that support operations are successfully delivered.

CNTFO provides financial operations support and services to the IFC Investment Departments, counterparts, internal and external financial and investment reporting units, syndication and treasury units, and portfolio management units in the administration and management of all IFC Loan, Guarantee, Equity, and Development-Partner-Trust Funds financial operations.  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. 

CNTFO also plays a key role in the decision-making for, and implementation of IT systems and upgrades, as well as in implementing new initiatives and financial products to ensure that data is recorded accurately and timely. 

About the role: 

• We are seeking a proactive, highly motivated Senior Financial Operations Officer to provide focused support to the team’s rapidly expanding Loan, Debt Securities, and Guarantee operations. The Senior Financial Operations Officer supervises approximately eight staff and consultants operating from Washington, D.C., and Chennai, India.  The position is based in Washington, DC, and reports to the Manager, CNTFO.
• Experience in implementing large corporate projects or significant, impactful process changes and experience integrating new loan, debt security, and equity transactions/product types across financial processes and systems are essential characteristics for success in this position.

Duties & Responsibilities

• The Senior Financial Operations Officer’s primary responsibilities will include, but are not limited to, the following duties and responsibilities:
• Effectively leading a small but diverse team of functional staff and consultants located in Washington DC and Chennai, India, to deliver the loan and equity operations work program;
• Playing a leading role in streamlining, automation, and innovation of processes, procedures, and systems, as well as strengthening the control environment;
• Providing guidance and direction to the team on processing, settlement, control, and servicing for IFC’s investments, including loan-related investment activities, blended finance and donor-trust-funds activities, trade and supply chain finance, special operations, debt securities, guarantees, and risk mitigation products;
• Supporting the CNTFO Manager in establishing strong collaboration and integration within the team and within the department;
• Engaging in strong stakeholder engagement to build trusting relationships with internal and external clients and business partners, and
• Maintaining high standards of team performance and the professional development of team members in achieving the division’s strategic objectives relating to internal and external client services, processing efficiency, and quality.

Specific Responsibilities include:

• Lead the delivery of work program for the loan and equity operations function within the CNTFO division, identify and adopt/adapt best practices related to the support of IFC’s loan, debt security, and equity investments in the current environment, and anticipate future trends.
• Provide functional leadership in implementing the new loan system and actively participate in other key institutional system initiatives, such as Core Operational Systems Renewal, ERP replacement, and Summit replacement.
• Identify and implement process standardization and simplification, productivity improvements, and control enhancement initiatives that improve service quality, timeliness, cost-effectiveness, and reduce operational risk.
• Support capacity building to service IFC’s transaction growth by improving and automating processes and controls, reducing volume sensitivity, introducing straight-through-processing automation, and developing, implementing, and maintaining best practice processing and settlement controls associated with the loan, debt security, and equity investment portfolios.
• Maintain customer service standards and metrics and facilitate effective internal and external communications.

People and Talent Management:

• Lead, motivate, and mentor staff within the team.
• Foster a positive and respectful work culture, teamwork, innovation, and client orientation.
• Support the CNTFO Manager in creating an enabling work environment that fosters strong talent management, professional development, and learning for staff and build a pipeline of talent to meet future business needs.

Selection Criteria

• A Master’s degree, MBA or equivalent in finance or business experience.
• Professional accounting certification (CA, CPA, ACCA, or equivalent)
• Ten years or more of relevant work experience in the accounting/finance field. Experience with an international accounting firm, Fortune 500 corporation, is a plus.
• Successful track record of achieving high-quality results and delivering client value-added services to meet team and departmental objectives.
• Experience with high-volume transaction processing operations in a multi-currency, multiple-location global environment.
• Demonstrated experience in efficiency improvements that increase quality, controls, and timeliness of service.
• Experience implementing technology-enabled process improvements and innovations.
• Demonstrated experience leading teams, including motivating staff across different locations, multi-cultural backgrounds, and serving multi-disciplinary stakeholders.
• Proven ability to implement large and complex system projects. Experience with the SOPRA Banking Software is a plus.
• Proven project management skills and aptitude for coordination and facilitation of teams.
• Proven ability to conceptualize, design, and implement innovative solutions and challenge the status quo to support the business.

Source: https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=28867&site=1