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

Financial Officer

Job #: req30805

Organization: World Bank

Sector: Finance & Accounting

Grade: GF

Term Duration: 3 years 0 months

Recruitment Type: Local Recruitment

Location: Chennai,India

Required Language(s): English

Preferred Language(s): Closing Date: 12/27/2024 (MM/DD/YYYY) at 11:59pm UTC

Description

Do you wish to construct a profession that’s actually worthwhile? Working on the World Bank Group offers a novel alternative for you to assist our purchasers clear up their best growth challenges. The World Bank Group is among the largest sources of funding and data for growing nations; a novel world partnership of 5 establishments devoted to ending excessive poverty, rising shared prosperity and selling sustainable growth. 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 knowledge, analysis, and expertise to develop options to probably the most pressing world challenges. For extra info, go to www.worldbank.org

Learn extra about our group: https://treasury.worldbank.org/en/about/unit/treasury/about/what-we-do .

With workers based mostly in Washington, Chennai, Paris, Tokyo, Singapore, and Sofia, the World Bank Treasury represents over 50 nationalities, and our management staff hails from all areas of the world. We are proud to be an equal alternative and inclusive employer. We have a devoted and dedicated workforce and don’t discriminate based mostly on gender, race, ethnicity, faith, incapacity, sexual orientation, or gender identification. Learn extra about Treasury’s best energy: its numerous and devoted employees.

Treasury (TRE) has been a big and important participant within the worldwide monetary markets for over seventy years and has achieved a worldwide fame as a prudent and revolutionary borrower, investor and threat supervisor. Treasury is accountable for: (i) managing roughly $195 billion in belongings for the World Bank and different official sector traders; (ii) main IBRD’s and IDA’s tripleA rated financing applications in worldwide and home bond and by-product markets; (iii) conducting asset and legal responsibility administration for IBRD’s and IDA’s steadiness sheets; (iv) overseeing the event and outreach associated to the financing and hedging merchandise the Bank offers for its developing-country purchasers; and (v) collaborating with the World Bank member nations to assist construct their capability. Staff in Treasury frequently work together and collaborate with different Departments throughout the Bank and Finance Partners’ groups.

The Treasury Operations Department (TREOP) offers a full vary of operational assist for the Treasury’s asset administration, capital markets and banking companies. The Department is presently organized into three operational models: Asset and Liability Operations (TREAL), Cash and Banking Operations (TREBK) and Quantitative Solutions and Analytics (TREQA), and a Financial Technology coordination unit (TREFT).

The Treasury Banking Operations (TREBK) staff Treasury Banking Operations (TREBK) is the unit offering banking and funds providers for World Bank Group (WBG) entities, in addition to IBRDTrust Funds. It ensures all World Bank funds, receipts, and FX associated to company money exercise are processed and performs key reconciliation controls and reporting over money transactions and funding portfolios. The unit consists of 4 groups accountable for coordinating to execute the work program; (1) money planning and making certain all FX conversions are executed to fulfill the Bank’s liquidity wants and processing funds and receipts for correct accounting; (2) managing financial institution accounts and relationships with all company banking counterparts; (3) performing controls to make sure the completeness, accuracy and validity of all money and safety positions, investigating and resolving variations with exterior data, and monetary reporting of money balances and exterior consumer reporting of funding holdings; and (4) managing the WBG’s SWIFT infrastructure and sustaining SSIs and key static knowledge associated to fee and receipt processing.

The TRE Operations Chennai (TRECH) is an integral part of TREOP and is accountable for quite a lot of duties offering very important assist throughout its operational divisions. It works carefully with the Headquarters in Washington D.C and one other shared providers heart in Sofia, Bulgaria.

Duties and Accountabilities:

We are searching for a dynamic particular person to steer the staff in Chennai and work beneath the route of the Headquarters Team Lead in Washington D.C. the Financial Officer would be the activity staff chief for the TREBK- Static Data and Swift Maintenance (SSM) Chennai staff accountable for sustaining SWIFT fee infrastructure and inner static knowledge to assist world banking and fee. The position entails executing TREBK’s work program whereas sustaining shut relationships with different Treasury departments. The major duties will embody, however should not restricted to, the next actions: Project Management and Business Analyst actions:

• Play an integral position within the design and implementation of recent Treasury methods with respect to the static knowledge upkeep operate, together with reviewing Business Requirements Document (BRD), scoping paperwork, and performing testing (User Acceptance Testing (UAT) and post-implementation testing). Translate enterprise necessities into practical and technical specs for system enhancements or new implementations, collaborate with the IT and Treasury Banking groups to assist the deployment of treasury methods and associated applied sciences, and liaise with undertaking stakeholders on an ongoing foundation to successfully talk undertaking expectations. Partner with WB enterprise companions on their enterprise and system modernization initiatives that relate to those capabilities.
• Support the HQ Team Lead to behave as the purpose of contact for the upkeep and growth of the staff’s important effectivity instruments, a case administration system (CRM), the Smart Email Routing (SER) device, and the WB’s digital Banking Portal (eBIP) platform.
• Work successfully inside the staff, in addition to with colleagues throughout Treasury and World Bank enterprise models in making use of technical abilities and data to assist and implement course of enhancements to the staff’s threat administration and operational processes.

SWIFT upkeep and compliance and management actions:

• Act as a subject skilled on the WBG’s Swift infrastructure, WBG-wide (Internal Route Codes, Calendars, and so on.) in addition to TRE-specific static knowledge (e.g., SSI, financial institution accounts, automation guidelines, and so on.) that the SSM staff is accountable for.Support the HQ Team Lead to offer experience on Swift services and advise enterprise companions on best-in-class services to fulfill their wants. Swift associated capabilities of the SSM staff that the Financial Officer will assist embody:

* Keep abreast of traits and growing expertise within the space of Swift transaction processing.

* Perform year-round Swift testing associated to patches and annual requirements improve, together with weekend work when mandatory, and documenting take a look at outcomes.

* Coordinate and oversee the annual attestation beneath the Swift CSP program coordinating with the ITSRC staff (Swift CSP lead).

* Review and put together Shared Services Agreements for World Bank Group enterprise models using World Bank Treasury providers and Swift connectivity (IFC and MIGA); and

* Perform Swift consumer validation critiques liaising with enterprise unit managers and TRECS.

• Provide experience with business greatest practices and rising traits on managing KYC, world fee sanctions, and AML / CFT applications and initiatives, and offering suggestions and addressing queries on these capabilities.
• Perform duties for ICFR (Internal Controls over Financial Reporting) actions, together with reviewing staff’s course of narratives, figuring out key controls, getting ready for walkthroughs and appearing as some extent of contact for exterior auditors.

Static knowledge upkeep actions:

• Provide experience and steerage for SSM staff members performing the static knowledge upkeep operate, and back-up enterprise supply when required. Manage and handle exceptions and points raised by staff members in performing static knowledge updates in WBG and TRE methods.Functions embody:

* Perform static knowledge and enterprise guidelines updates inside TRE methods (Standard Settlement Instructions (SSIs), route codes, fee financial institution guidelines, and so on.).

* Perform RMA administration duties (Swift Relationship Management Application updates and modifications).

* Implement RAMP (Reserves Asset Management Program) modifications for new consumer implementations and modifications, together with all SSI and system-related updates and custodian modifications.

* Perform month-to-month BIC (Swift Bank Identifier Code) Update, monitor all modifications and talk Bank-wide to all fee processing enterprise models.

* Collect, summarize and submit staff’s month-to-month Operational Risk Reporting and followup on agreed-upon remediation actions.

* Prepare and supply WBG Standard Settlement Instructions (SSIs) in a safe method to WBG-wide enterprise models, as requested.

* Prepare Swift signatory modifications and Designation Letters informing banking companions of approved signatories and personnel.

* Perform call-backs with exterior counterparts, each WBG-initiated call-backs in addition to counterparty-initiated call-backs, and documenting.

Leadership duties: * Lead the TREBK-SSM Chennai staff, which incorporates managing efficiency, mentoring employees, on-boarding new employees and making certain clean transition of labor program duties.

* Liaise and work carefully with HQ staff result in assist the graceful and efficient functioning of working mannequin for TREBK-SSM Chennai staff.

* Work carefully with the Chennai Team result in assist the skilled growth of employees by figuring out each smooth and technical talent coaching wants.

* Perform, monitor and assist supply of TREBK-SSM Chennai staff capabilities and tasks as per the agreed work program duties.

As decided by administration, relying on enterprise wants: * The candidate is predicted to work Singapore / London shift and will probably be required to offer prolonged assist to overlap with Washington DC.

* Candidate will probably be required to look at US Holiday calendar and could be required to work on designated holidays to fulfill reporting deadlines as per enterprise wants.

* The place requires candidate to work from workplace in Chennai and adjust to WBG’s return-to- workplace tips for employees.

Selection Criteria

1. Master’s diploma in Finance, Accounting or associated discipline (Computer Science / Information Systems, Mathematics, Engineering) with 10 plus years of related expertise within the monetary providers business, ideally with back-office operations; or Bachelor’s diploma in Finance, Accounting, or associated discipline with 12 years plus of immediately associated enterprise expertise.

2. Certifications reminiscent of CFA, CPA/CA, FRM, CTP, PMP or equal are a powerful plus.

3. Extensive data of and deep familiarity with treasury enterprise traces and back-office operational capabilities, together with banking, fee operations and money administration.

4. Excellent data and powerful expertise with supporting points of the mounted earnings buying and selling lifecycle.

5. Proficiency with a number of treasury IT methods (e.g., Summit, Quantum, Murex, and so on.) is required.

6. Excellent monitor report of attaining prime quality outcomes and managing related tasks to fulfill staff and departmental targets.

7. Proven potential to study shortly in an unstructured studying surroundings, and confirmed potential to conceptualize, design and implement revolutionary options and problem the established order to enhance and increase the enterprise wants.

8. Demonstrated potential to handle simultaneous competing calls for and ship on time.

9. Displays a excessive diploma of self-motivation, accountability, a optimistic perspective, and the power and drive to steer and collaborate in a team-based, multi-cultural work surroundings.

10. Excellent communication abilities – each verbal and written – to successfully share and change info. The potential to hear actively, receive mandatory enter, share concepts and specific views and opinions diplomatically and confidently, communicate persuasively, and convey info in a transparent, goal, and concise method.

11. Strong interpersonal abilities with the power to steer and affect colleagues in and out of doors the staff even with out formal authority.

12. Ability to mentor employees.

13. Demonstrated analytical skills. 14. Detail-oriented problem-solver with robust group abilities.

15. Strong consumer focuses and providers abilities, together with the power to hear, assess and reply to consumer wants.

16. Complies with highest moral requirements.

World Bank Group Core Competencies

ehUeaR6 BT1TBK
• Financial Market Literacy – Can perceive monetary market processes; reads and analyzes monetary reviews and knowledge reminiscent of holdings, valuation, efficiency, compliance, account reconciliations, place, margin, and settlement and threat reviews.
• Client Services – Contributes efficiently to on-site missions or workshops for Treasury purchasers. Process and Infrastructure Development – Makes suggestions to enhance effectivity of the accounting, enterprise threat or operations course of.
• Operational Risk and Control – Understands the essential ideas of threat administration and inner management frameworks.
• Treasury Operations – Adept or skilled in processing a collection of transactions reminiscent of bonds, FX, or structured transactions, or managing nation or transactional financial institution accounts and reference knowledge.
• Client Orientation – Able to ascertain partnership based mostly working relationships with inner/exterior purchasers. Demonstrates independence, initiative, and autonomy in addressing purchasers’ wants.
• Drive for Results – Takes private possession and accountability to fulfill deadlines and obtain agreed- upon outcomes and has the non-public group to take action.
• Teamwork (Collaboration) and Inclusion – Collaborates with different staff members and contributes productively to the staff’s work and output, demonstrating respect for totally different factors of view.
• Knowledge, Learning and Communication – Able to analysis and draft high quality written supplies or evaluation adherence of written supplies ready by others to administrative necessities. Able to mentor and information and manage studying actions inside space of assigned duties.
• Business Judgment and Analytical Decision Making – Able to make use of analytical, problem-solving abilities and resourcefulness to make knowledgeable and sensible choices to hold out personal work. Able to recommendation on info utilization and storage, and insurance policies within the space of assigned duties.

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 depart, together with parental depart, in addition to affordable 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 identification, faith, race, ethnicity, sexual orientation, or incapacity.

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