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    Financial Analyst - Chennai, India - The World Bank

    The World Bank
    The World Bank Chennai, India

    Found in: Talent IN C2 - 7 hours ago

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    Description

    Financial Analyst

    Job #: req26718 Organization: World Bank Sector: Finance & Accounting Grade: GE Term Duration: 4 years 0 months Recruitment Type: Local Recruitment Location: Chennai,India Required Language(s): English Preferred Language(s): Closing Date: 4/1/2024 (MM/DD/YYYY) at 11:59pm UTC

    Description

    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. For more information, visit

    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.

    Unit Overview

    Within WFA, the Loan Accounting Division (WFALA) directly serves both the IBRD & IDA loan portfolios.

    As it relates to the IBRD/IDA loans business, the team is directly responsible for the accuracy and completeness of the IBRD and IDA loan ledgers, overseeing quarterly loan ledger closings, and supporting the IBRD/IDA external audits.In addition, the division is responsible for servicing borrowers' debt repayments, monitoring overdue status, and directly engaging with operational teams to facilitate timely repayments.The division is also a focal point for preparing and researching loan portfolio queries and requests from senior management and is also engaged upstream in supporting and operationalizing new products, policies, and corporate initiatives.

    The team is also accountable for ensuring strong internal controls over financial reporting for loan accounting. The team also maintains and enhances loan related systems and workflows which serve the Bank's Loans business and operationalizes new products and requirements into related loan accounting applications and workflows.

    The division regularly works directly with colleagues in IBRD/IDA corporate finance units and Operations including DFI, TRE, WFA, LEG, CRO, Senior Management, ED offices, in addition to the external auditors, IFC, MIGA and other MDBs. The division is located in three locations:HQ, Chennai, and Manila.WFALA is currently seeking a Financial Analyst to support the loan accounting team in Chennai.

    How your contributions will help us achieve our goals

    The Financial Analyst will serve a technical role with respect to the Chennai based loan accounting team, and in ensuring strong collaboration and knowledge sharing within the division.This role requires sound knowledge of IBRD and IDA loan products and policies, together with a strong background and experience in monthly closings in a production accounting unit that regularly interacts with Bank colleagues across other Finance VPUs, Operations, IFC, MIGA, and the external auditors. A large part of the work program relates to addressing urgent and unanticipated issues that arise on a regular basis – from all levels of the organization.

    As a Financial Analyst, you will report to the Senior Team Lead in Chennai.

    What you will do


    • Quarterly / FY end closings: directly perform accounting closing production work for the IBRD/IDA loans portfolios, including key account reviews, reconciliation, analysis preparation. This work involves a large hands-on component working in underlying systems and other related modules. Directly engage with other corporate finance units, and the external auditors.

    • Internal Control Oversight: proactively adopt and role model a strong control mindset. Set team norms to learn from past issues, identify areas in need of strengthening, and initiating appropriate actions.

    • Quality control – ensure accuracy and completeness of loan portfolio accounts, including review of loan master data set up, interest rates, reconciliations etc.

    • Business Analysis: draft and articulate business needs in business requirement documents related to new system needs, products or policies. Perform user acceptance testing of new systems and functionality.

    • Financial Analysis: Proactively identify trends and/or potential inconsistencies through critical review of data and fact patterns regarding the loans portfolio. Lead/assist/support the response to queries from senior management, external auditors etc.

    • Internal and external collaboration: Act as a key point of contact for external auditors and coordinate financial activities with business units within IBRD and IDA, provide debt service workshops to clients, support to Bank Country and Regional teams on billing and/or other financial matters

    Selection Criteria

    Education & Experience:
    • CA, CPA or equivalent designation
    • Bachelors in Finance, Accounting or relevant discipline
    • Minimum 3 years post qualification experience in a corporate accounting setting, and hands on experience in an accounting production environment
    • Experience in financial services industry with preference towards experience in an international multilateral organization
    • Preferable: Big Four or equivalent public accounting experience is advantageous Knowledge and Skills
    • Strong knowledge of . GAAP and proficiency with researching and applying accounting standards
    • Preferable: Knowledge of the World Bank's loan products and policies is advantageous
    • Hands on experience with an ERP system – with strong preference to SAP experience
    • Demonstrated and proven attention to details is required
    • Strong knowledge of and practical experience in designing and implementing internal controls over day to day processes and financial reporting related tasks Abilities:
    • Strong communication skills, including the ability to explain and express views/opinions clearly and confidently
    • Ability to deal sensitively in a multi-cultural environment and build effective working relations with clients and colleagues
    • Many requests may involve off hours work due to their urgency. Applicants unable to accept this requirement should not apply to this position

    The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.


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