Apply for Financial Officer, Chennai, India Job Vacancy | Position

Financial Officer

Job #: req30798

Organization: World Bank

Sector: Finance & Accounting

Grade: GF

Term Duration: 4 years 0 months

Recruitment Type: Local Recruitment

Location: Chennai,India

Required Language(s): English

Preferred Language(s): Closing Date: 1/1/2025 (MM/DD/YYYY) at 11:59pm UTC

Description

Do you wish to construct a profession that’s actually worthwhile? Working on the World Bank gives a novel alternative for you to hitch us to assist our shoppers resolve their best growth challenges. The World Bank (WB) is likely one of the largest sources of funding and information for creating nations; a novel world partnership of 5 establishments (IBRD, IDA, IFC, MIGA, and ICSID) devoted to ending excessive poverty, rising shared prosperity, and selling sustainable growth on a livable planet. With 189 member nations and greater than 120 workplaces worldwide, we work with private and non-private sector companions, investing in groundbreaking tasks and utilizing information, analysis, and know-how to develop options to essentially the most pressing world challenges. For extra info, go to www.worldbank.org.

The WB Finance & Accounting (WFA) Vice Presidency is accountable for all elements of the monetary reporting and inside management framework for IBRD and IDA, and the intensive Trust Fund/Partnership portfolio of the WB entities. It helps an applicable fiduciary management framework and administering disbursements for Bank lending and leads the shopper service operate for the WB’s company bills.

Organizationally, WFA is comprised of three departments: (1) Corporate Accounting and Reporting, (2) Trust Funds and Loans, and (3) Financial Controls. In WFA, our mandate helps each inside and exterior shoppers whereas we give attention to supply, optimization, influence, and folks & tradition.

Unit Overview :

Within WFA, the Loan Accounting Division (WFALA) immediately helps the quarterly and annual 12 months finish audits, day after day accounting, administration reporting and the design and implementation of recent merchandise associated to the IBRD & IDA mortgage portfolios.

The division is accountable for the accuracy and completeness of the day-to-day accounting and reporting of the IBRD and IDA mortgage portfolios. This includes overseeing processes which generate accounting on the transactional and portfolio stage, overseeing quarterly and monetary mortgage ledger closings, and immediately supporting the IBRD/IDA exterior audits. The division can be a key upstream supplier of mortgage portfolio information, analyses and stories to different downstream reporting and company finance items who devour this info of their quarterly/fiscal 12 months finish actions.

The division can be accountable for servicing IBRD and IDA debtors’ debt repayments, monitoring reimbursement standing, administration reporting, and fascinating with Bank operational groups to facilitate well timed repayments.

Our division is closely concerned within the full lifecycle of recent mortgage product growth throughout the Bank by supporting upstream design and feasibility, to downstream implementation and stabilization. The crew performs a pivotal position associated to most initiatives associated to the mortgage and ensures portfolios.

The division can be a primary point of interest for addressing and researching queries from Senior Management associated to the IBRD and IDA mortgage portfolios.

The mortgage accounting division is closely engaged in new product growth on the Bank, collaborating within the end-to-end lifecycle from preliminary design and feasibility to implementation and stabilization phases – and infrequently leads some phases throughout the lifecycle.

The crew is unfold throughout three places: Washington, Chennai and Manila.

WFALA is at present searching for a Financial Officer who can be based mostly in Chennai and report back to the Senior Financial Officer in Chennai.

How your contributions will assist us obtain our objectives:

This position requires sound information of IBRD and IDA mortgage merchandise and insurance policies, along with a robust background and expertise in month-to-month closings in a manufacturing accounting unit that recurrently interacts with Bank colleagues throughout different Finance VPUs, Operations, IFC, MIGA, and the exterior auditors. The position additionally requires sturdy challenge administration expertise, publicity to new age technological instruments and ERP programs. A big part of the work program pertains to addressing pressing and unanticipated points that come up frequently – from all ranges of the group.

What you’ll do:

• Quarterly / FY finish closings: Directly carry out accounting closing manufacturing work for the IBRD/IDA loans portfolios. This work includes a big hands-on element working in underlying programs and different associated modules. Directly have interaction with different company finance items, and the exterior auditors
• Financial Analysis: Proactively establish developments and/or potential inconsistencies by important evaluation of information and reality patterns relating to the loans portfolio. Lead/help/help the response to queries from senior administration, exterior auditors and many others.
• Process Improvements and Efficiencies: Proactively establish and operationalize course of enhancements, and/or problem established order by use of automated options resembling RPA, Alteryx and comparable instruments
• Internal Control Oversight: Proactively undertake and position mannequin a robust management mindset to study from previous points, establish areas in want of strengthening, and provoke applicable actions
• Systems / enterprise necessities: Draft and articulate enterprise wants in enterprise requirement paperwork associated to new system wants, merchandise or insurance policies. Perform person acceptance testing of recent programs and performance
• New merchandise – Support division’s pursuits in new product working teams, present inputs, feedback, elevate points based mostly upon information of the enterprise and underlying IT programs.
• Act as a key level of contact for exterior auditors and different reporting items.

Selection Criteria

Education & Experience:

• CA, CPA or equal designation
• Bachelor’s in finance, Accounting or related self-discipline
• Minimum 5 years publish qualification expertise in a company accounting setting, and arms on expertise in an accounting manufacturing setting ehUeIZf B8Ujz5
• Experience in monetary companies business with desire in the direction of expertise in a global multilateral group

Knowledge and Skills

• Strong information of U.S. GAAP and proficiency with researching and making use of accounting requirements
• Knowledge of the World Bank’s mortgage merchandise and insurance policies is advantageous
• Hands on expertise with an ERP system – with sturdy desire to SAP expertise
• Demonstrated and confirmed consideration to particulars is required
• Strong information of and sensible expertise in designing and implementing inside controls over day-to-day processes and monetary reporting associated duties

Abilities:

• Ability to handle simultaneous competing calls for and ship on time
• Strong communication expertise, together with the flexibility to elucidate and specific views/opinions clearly, and confidently to make sure high-quality outcomes
• Ability to deal sensitively in a multi-cultural setting and construct efficient working relations with shoppers and colleagues.
• Demonstrated competencies on the required stage as prescribed within the WBG competency Framework right here:-

World Bank Group Core Competencies

• The World Bank Group presents complete advantages, together with a retirement plan; medical, life and incapacity insurance coverage; and paid go away, together with parental go away, in addition to cheap lodging for people with disabilities.
• We are proud to be an equal alternative and inclusive employer with a devoted and dedicated workforce, and don’t discriminate based mostly on gender, gender id, faith, race, ethnicity, sexual orientation, or incapacity.
• Note: If the chosen candidate is a present World Bank Group Staff Member with a Regular or Open-Ended appointment, they may retain their Regular or Open-Ended appointment. If the chosen candidate is a present World Bank Group Staff Member with a Term appointment that expires later than the top date of this appointment, they may retain the length of their present Term appointment.

World Bank Group Core Competencies

The World Bank Group presents complete advantages, together with a retirement plan; medical, life and incapacity insurance coverage; and paid go away, together with parental go away, in addition to cheap lodging for people with disabilities.

We are proud to be an equal alternative and inclusive employer with a devoted and dedicated workforce, and don’t discriminate based mostly on gender, gender id, faith, race, ethnicity, sexual orientation, or incapacity.

Learn extra about working on the World Bank and IFC, together with our values and provoking tales.