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 #:

- req21434
Organization:

IFC
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:

3/9/2023 (MM/DD/YYYY) at 11:59pm UTC
DescriptionThe IFC's Controllers Department is responsible for effectively and efficiently managing IFC's Financial Operations (loan, equity and shortterm finance operations, and backoffice treasury support operations), Financial Reporting (including reporting and analysis, portfolio review, investment accounting and accounting policy), Internal Controls, and Financial Systems, Integration and Projects. The Department comprises approximately 125 diverse and highly skilled staff, based in Washington DC, and Chennai.

The Financial Operations unit (CNTFO) within the IFC Controllers Department has overall responsibility for recording, servicing, and providing post-commitment support for the private sector loan, guarantee, short term finance products and programs, and the equity investments of the International Finance Corporation, and has several units that deliver this work, namely Loan Operations Team (CNTLO), Equity and Custody Operations Team (CNTEC) and Quality Assurance Team (CNTQA).CNTFO provides financial operations support and services to the IFC Investment Departments, counterparts, internal and external financial and investment reporting units, syndication and treasury units, and portfolio management units, in the administration and management of all IFC Loan, Guarantee, Equity, and Development-Partner-Trust Funds financial operations.

CNTLO administers and manages all IFC loan financial operations which includes processing and monitoring transactions such as straight senior loans, syndications, bonds, guarantees risk participation and donor funded investments.

CNTEC provides customer services to the investment departments and external clients through the servicing and accounting of IFC's equity investments.

CNTQA is responsible for quality control over the recording of loan and equity transactions, through data mining and analysis, review of metrics and controls, and coordination across units to address data quality and control gaps.

The units ensure that loan and guarantee agreements, equity investments, and Development-Partners-trust-fund investments are recorded accurately and timely in the Corporation's systems of record and general ledger.

The units play a key role in the decision-making for, and implementation of, IT systems and upgrades, as well as in the implementation of new initiatives and financial products to ensure that data is recorded accurately and timely.

CNTFO has co-located some aspects of its work program to IFC's Chennai Office (CNTCO), who have recruited staff in the IFC Financial Operations Support team (CNTFC) to deliver this work program.

The team provides support and interacts with IFC colleagues in Washington on a day-to-day basis.

The Consultant (ETT) shall interact extensively with internal partners, such as Loan Operations counterparts, Trust Funds Middle Office, IT teams, Cash Settlement unit, and IFC Financial Reporting team.

The Consultant (ETT) will report to the Team Lead of CNTFC Loan & Equity unit in Chennai. The individual must be a self-starter in identifying and undertaking projects or initiatives.
Roles & Responsibilities

The Consultant (ETT) is a key member of the team, providing operational support for the IFC's Loans and Equity operations.

This role requires frequent interaction with internal counterparts in CNT, Treasury, Investment operations team, Trade Finance Middle Office team, Trust Fund Budget team, Blended Finance team, Syndications team, Internal Controls, and the external auditors.- Review of project agreements to ensure accurate booking of product commitments in IFC systems.

Process disbursements for regular loans, other debt products, Short Term finance products, guarantee claims, rebate payouts
Review for accuracy and signoff of monthly/quarterly/semiannually or annual bills to IFC's borrowers including portfolio servicing
Settling of client's payments related to loans, guarantees, short term finance, risk sharing facilities, blended finance facilities and other debt instruments.
Process wire transfer for regular reflows of loan principal and income to the IFC's donor participants
Ensure accurate and timely posting of transactions in ACBS and Investran for Loans, Guarantees, Donor funded activities and equities.
Provide financial operations support to Investment Departments in daytoday operations related to IFC guarantees by booking guarantee exposures, dispatch of quarterly guarantee fee bills payable to IFC by Issuing banks or Confirming banks, and provide arrears list of feepaying banks on adhoc basis
Execute monitoring, reconciliation and periodic reportin