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 www.worldbank.org.
The WB Finance & Accounting (WFA) Vice Presidency is responsible for all aspects of the financial reporting,, 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 Controls. In WFA, our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.
Within WFA, the Structured Finance Division (WFASF) is responsible for product control functions for financial instruments including borrowings, derivatives, and investments for IBRD, IDA and Trust Funds except for pension funds. These include producing valuation for the IBRD/IDA bonds, derivatives, and loans, set-up of financial models and valuation review, market data sourcing and verification, financial instrument product aligned accounting, implementing accounting policies around financial instruments, independent price verification, financial instrument related data management and providing disclosure information for financial statements regarding these financial instruments.
The Financial Officer will play a key role in the delivery of the Accounting and Reporting work program of the division. He/she will interact with counterparts in Finance (WFA, Chief Risk officer, Treasury, and Corporate Finance) and will represent the division in working groups related to new initiatives and new financial instruments.
How your contributions will help us achieve our goals
What you will do:
• Analyzing accounting and/or valuation results as they relate to financial instruments, to ensure they are consistent with expectations and business objectives, or those deviations are understood and adequately documented.
• Preparing and reviewing various financial and management reports (including foot notes / disclosures as part of Financial Statements and MD&A), as required by the department or other stakeholders.
• Proactively interacting with WFA colleagues and Treasury (TRE) front office and other business units, as required to stay up to date on new or proposed products and initiatives and assess their accounting and reporting implications.
• Performing analysis, preparing commentaries, suggesting, and implementing solutions for business issues in a pro-active manner.
• Supporting efforts to implement institutional projects and business initiatives, translating new business initiatives or financial products into processes and / or system requirements.
• Prepare and analyze allocation of debt funding to separate pools and preparation of associated pass-through rates for Bank lending products.
• Collaborating with business and information technology teams across locations to address issues and implement solutions promptly.
• Maintaining and developing processes, procedures, documentation, and internal controls around portfolios handled.
• Identifying opportunities for improvements in current processes, initiating improvements within the system and control framework
• Staying abreast of accounting pronouncements and industry best practices as they relate to accounting, reporting and valuation of financial instruments.
• Coordinating with external and internal auditors, when required.
What you will bring:
• Master’s in Accounting, Finance, Mathematics, Engineering or relevant discipline
• Professional finance/accounting qualification (CA, CPA, ACCA or equivalent accounting qualification and / or CFA)
• Minimum of 5 years of relevant work experience
• Professional experience with major financial institutions or a Big 4 accounting firm is a plus
Knowledge and Skills:
• Strong knowledge of treasury products / financial instruments (i.e., capital and money market instruments – particularly fixed income instruments, and derivatives).
• Hands-on experience of accounting, financial analysis and reporting in an integrated financial systems environment.
• Working knowledge of Murex or other front-to-back treasury systems, integrated financial systems such as SAP, SAP BI/BO reporting tools.
• Experience in performing control reviews, reconciliations, and analysis.
• Experience in supporting implementation of system applications / tools – preparing specifications, design analysis, testing, etc.
• Proven quantitative and qualitative analytical skills, including excellent spreadsheet and skills. Writing macros will be a plus.
• High level of initiative, self-confidence, and a self-starter; proven problem-solving skills, ability to deliver high quality results and operates with minimum supervision
• Proven capacity to deliver results and respond quickly and effectively to requests. Ability and desire to meet tight deadlines.
• Ability to contribute to team performance with strong interpersonal skills.
• Flexibility to perform a variety of tasks and expand the scope of work and responsibilities; committed to achieving individual and team results.
• Excellent verbal and written communication and presentation skill.
• Highest ethical standards.
World Bank Group Core Competencies
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.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.