Financial Officer Vacancy in World Bank

World Bank has invited applications for the position of Financial Officer.

The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development.

Selection Criteria

• Master’s degree in Business Administration, Accounting, Finance, Engineering, or equivalent. CFA, FRM, PRM, CPA, and familiarity with fixed income financial instruments are a strong plus. Familiarity with Bloomberg and Summit is highly desirable.

• At least 7 years of relevant work experience in a financial institution or Big 4 auditing firm including 2 years of prior supervisory (technical oversight/SME or people management) experience.

• Strong quantitative and qualitative analytical skills, including proficiency in Excel and Excel VBA, Word, and PowerPoint is required.  Demonstrated ability to manage simultaneous competing demands and deliver on time.

• Excellent interpersonal communication and presentation skills, including the capacity to communicate and discuss complex technical issues in simple terms both verbally and in writing. Experience in delivering high-quality client services within a client-focused environment.

• A very high degree of self-motivation and drive to high performance, while instilling a culture of fun and care in the workplace.

• Commitment to work in a respectful, team-oriented, and multi-cultural environment.

• Flexibility to overlap with US hours will be required to meet reporting deadlines along with willingness to travel to Washington DC for training and team projects, if required.

• Having the highest ethical standards.

Job Role

One will be working in Quantitative Solutions and Analytics team (TREQA) which is one of the four operational units of The Treasury Operations Department (TREOP) and is the focal point of quantitative, analytical and reporting support for TRE’s fixed income asset management business. TREQA develops and implements quantitative models, financial solutions and portfolio analytics; the team also provides support in financial accounting, investment performance measurement, investment guideline compliance monitoring to for internal & external clients, as well as related capacity building for central banks, sovereign wealth & pension funds, office of debt management & strategic partners. 

Duties and Accountabilities

The TRE Operations Chennai is an integral part of TRE and is responsible for a variety of duties providing vital support across its operational divisions. It works closely with the Headquarters in Washington D.C.  Under the guidance and supervision of a Team Leader, the Financial Officer will have responsibilities for specific individual tasks/projects as well as for working as an integral part of the team in executing TREOP’s work program, while maintaining close relationships with the other Treasury departments. 

The Financial Officer will be responsible for, but not limited to, the following:

• Supervise the work of the TREQA Chennai team and provide adequate back-up to ensure all team’s deliverables and reporting requirements are promptly and accurately met;

• Responsible for the production and distribution of investment reports and communicate directly with internal and external clients as needed; being able to quickly identify and effectively resolve issues relating to accounting, pricing and valuation of fixed income securities, investment performance measurement and attribution for a fixed income portfolio, market and credit risk measurement, and client reporting;

• Ensure that monthly, quarterly accounting deliverables and reporting requirements are accurate and performed promptly with third-party client activity, conduct accounting close and necessary accounting adjustments for third-party clients;

• Support daily derivative valuation reasonableness checks and other activities related to investment pricing and valuation, Review Daily Controls and resolve daily system-to-system reconciliations and controls reviews; communicate findings promptly to ensure proper follow-up and timely resolutions of any identified exceptions;

• Stay abreast of accounting standards (GAAP & IFRS), investment performance, and GIPS standard, provide accounting technical advisories in International Financial Reporting Standards (IFRS) on topics;

• Identify capacity and back-up needs, ensure team is adequately cross-trained and work is equitably distributed among team members;

• Identify process improvements and create checks and controls by suggesting ways to make processes more streamlined and robust;

• Assist the Chennai Lead with recruitment and performance assessment initiatives; regularly monitor staff’s performance and foster effective collaboration across the Chennai team;

• Actively mentor staff for performance and talent development.

Competencies:

WBG Core Competencies

• Deliver Results for Clients – Proactively addresses clients’ stated and unstated needs. Adds value by constantly looking for a better way to get more impactful results; sets challenging stretch goals for oneself. Immerses oneself in client experiences and perspective by asking probing questions to understand unmet needs. Demonstrates accountability for achieving results that have a development impact and financial, environmental, and social sustainability. Identifies and proposes solutions to mitigate and manage risks.

• Collaborate within Teams and Across Boundaries – Collaborates across boundaries, gives own perspective, and willingly receives diverse perspectives. Appropriately involves others in decision making and communicates with key stakeholders. Approaches conflicts as common problems to be solved. Actively seeks and considers diverse ideas and approaches. Integrates the WBG perspective into work.

• Lead and Innovate – Develops innovative solutions. Contributes new insights to understand situations and develops solutions to resolve complex problems. Adapts as circumstances require and manage the impact of own behavior on others in the context of WBG’s values and mission. Identifies and pursues innovative approaches to resolve issues.

• Effective WBG staff rapidly and readily share their expertise – Client solutions, Leverages department’s expertise, and body of knowledge across WBG to strengthen internal and/or external client solutions. Seeks to learn from more experienced staff to deepen or strengthen their professional knowledge and helps others to learn. Builds personal and professional networks inside and outside the department unit.

• Make Smart Decisions – Interprets a wide range of information and pushes to move forward. Seeks diversity of information and inputs, researches possible solutions, and generates recommended options. Identifies and understands risks and proposes recommendations. Based on risk analysis makes decisions in a timely manner within your own area of responsibility, considering the interests and concerns of stakeholders.

• Client Understanding and Advising – Looks at issues from the client’s perspective and advocates for clients within their own area as well as urges others to focus on meeting client needs. Works with others across the VPU to define client needs and develop the best approach to meet client needs (e.g., finds appropriate solutions and negotiates internally for needed resources and support.

• Broad Business Thinking – Maintains an in-depth understanding of the long-term implications of decisions both for related areas within the VPU and the client’s business. Involves the key players in identifying operating needs, issues, and immediate solutions. Ensures that decisions are supported by relevant stakeholders and creates the business case for investment in process and enhancements. Sets clear explanations for the integration and alignment of services/solutions with business functions, focusing on the strategic value provided for the area of responsibility within the client’s business.

• Analytical Thinking – Coordinates the information gathering and reporting process. Reviews trends and compares to expectations. Conducts research to define problems and prepares responses to anticipated questions. Prioritizes multiple issues and opportunities. Identifies relationships and linkages within several information sources. Anticipates issues that are not readily apparent on the surface. Identifies root causes and effects. Defines priorities within performance objectives. Reports and identifies areas that need guidance to resolve complex issues. Anticipates the possible outcome of potential solutions.

• Policies and Procedures – Demonstrate thorough knowledge of policies and procedures in related fields. Provide training and guidance to junior staff in enhancing their understanding of relevant policies and procedures. Lead by example and serve as the best practice champion in applying pertinent policies and procedures.

• Risk and Controls – Lead by example and serve as best practice champions in completing internal control procedures, including understanding impact beyond own immediate functional areas. Provide constructive inputs to the design, implementation, and improvement of risk and internal control procedures for stand-alone end-to-end processes based on understanding of the business. Assess the impact of potential control risks and propose mitigating control procedures as appropriate, with balanced efficiency and effectiveness results within any given processes.

• Information Technology and Systems – Leverage information technology systems and applications to improve productivity and efficiency. Provide inputs to IT system enhancement efforts based on day to day working experience and knowledge of the systems.

• Communication – Adapt the communication style appropriate for the intended audience. Adopt an inclusive approach to communication as is appropriate to the situation, to ensure adequate stakeholder participation. Present information effectively and encourage feedback.

Term Duration: 3 years 0 months

Recruitment Type :Local Recruitment

Required Language(s):  English

Location: Chennai,India

Closing Date of application :10/5/2020 (MM/DD/YYYY) at 11:59pm UTC

For more details and to apply, click here.