E T Temporary - Chennai, India - IFC Systems Corporation

IFC Systems Corporation

Verified Company

Chennai, India

2 weeks ago

Posted by:

Deepika Kaur

beBee Recuiter

Description

E T Temporary

Job #:

- req22921
Organization:

World Bank
Sector:
Finance & Accounting
Grade:
ET4
Term Duration:
1 year 0 months
Recruitment Type:
Local Recruitment
Location:
Chennai,India
Required Language(s):
English
Preferred Language(s):

Closing Date:

6/12/2023 (MM/DD/YYYY) at 11:59pm UTC
DescriptionThe World Bank Group Finance and Accounting (WFA) Vice Presidency Unit, is responsible for all aspects of financial reporting and the internal control framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC) and the extensive Trust Fund/Partnership portfolio of those entities. The VPU is also responsible for expressing a Finance viewpoint on controls over Bank Group operations.

WFA comprises the following functions:

Financial Instruments Accounting and Valuation; Loan Operations; Accounting Business Services; Financial Analysis and Reporting; Accounting Policy; Documentation and Communication; Advisory Services; and Operational Risks and Controls.

These units collectively include approximately 500 staff, of which approximately 170 are in Washington, D.C., with the remainder in regional offices including the largest in Chennai, India.

Unit Overview

The WBG Trust Fund and Loan Operations Department (WFATL) in WFA provides a number of financial operation activities, notably financial services, compliance, disbursements, accounting, reporting, and analytics for IBRD/IDA loans and Trust Funds.

WFATL consists of two divisions, each managed by one manager.

The first division, WFACS, is devoted to providing client services and related operations for the loans business and external clients and is organized along business lines serving the regions and global practices.

The Services within the area of WFACS responsibilities fall under three categories:
regional coordination, country focal point assistance, and project-level fiduciary and portfolio management.

The second division, WFAAS, is focused on supporting both the WBG's Trust Funds and Loans portfolios, for example, providing advice on the design and implementation of new trust funds, policies, or processes, as well as many activities associated with the implementation and closure of loans or trust funds, including account creation and maintenance, disbursement transactions, trust funds and loans accounting and reporting and helpdesk functions.

These two divisions work closely and collaboratively with one another, in addition to with other Bank units.
Division overview
WFAAS division is split into (a)

Advisory teams, based out of Washington DC, and (b) Operational support teams, based out of Chennai.

The Operational support team in Chennai (WFALF), is split into three sub-teams viz., (i) TACT, (ii) Trust Funds accounting and reporting, and (iii) Loan accounting and reporting.

Together, the Division provides end-to-end support for IBRD/IDA Loans and WBG Trust Funds, in terms of,- Providing upstream advice to Bank teams and influence the design of new loan agreements to ensure:
compliance with fiduciary, reporting, internal control requirements and best practices

Support, help design, and ultimately implement and account for new and emerging loan products, in addition to the existing loans portfolio
Ensure the accuracy and integrity of the Trust Fund and Loan modules, financial ledgers and related interfaces, which capture all TF and Loan activities
Report on Trust Fund and Loan accounts at the individual account and portfolio level through, audited/unaudited financial statements, management reports, analyses and trends for corporate reporting, donor specific reports, etc.

This is an advertisement for a E T Temporary, in the Trust Fund reporting Team forming part of the Operational Support in Chennai.

This position reports to the Trust Fund reporting Team Lead.

Duties & Responsibilities:

The primary purpose of the job is to execute financial accounting activities for certain trust funds programs and support other reporting deliverables of the team.
Carry out daytoday accounting functions involving fund transfers, expense transfers, interim budget recoveries, budget updates and cancellation of funds for assigned programs within the ambit of trust funds accounting / administration policies / procedures and agreed Service Level Agreement (SLA) parameters;
Manage expense reposting requests from clients, review and process such requests efficiently in accordance with the reposting guidelines and agreed SLA.
Assist external auditors by providing the required supporting documentation in support of financial statements, in coordination with various Country Offices, within the agreed service level agreement (SLA) parameters;
Initiate procedures to close assigned trust funds when due and return unutilized funds as per the procedures after completion of closure process;