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 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 Controls. In Controller’s our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.
WFA Financial Controls (WFAFC) is a business division in WFA and is responsible for the fair recording and reporting of the WBG’s administrative expenses and fixed assets, which have a combined financial statement value of nearly $4.0B. This includes delivering core accounting services, maintaining an effective system of internal controls, and providing strategic leadership on complex business issues pertaining to the following administrative expenses and functions: (i) Travel Accounting, Accounts Payable, Fixed Asset and Lease Accounting, Quality Assurance and Country Office Accounting (together known as WFATA) (ii) Accounts Receivable, Payroll and Tax Allowance Administration and (iii) Helpdesk Operations (WFAAN)
WFAGP is located at Chennai and responsible for processing vendor payments for all HQ units in Washington DC and around 120+ County offices. WFAGP reports functionally to WFATA. This team complements and works with WFAFC’s other functional teams in Chennai: Payroll, Tax and AR (WFAPA), the Assurance and Client Support team (WFAAC), which deliver core transaction processing services related to Accounts Receivable, Payroll, Tax, provide advisory and support services to country office accountants, travelers and WBG staff in accounting and compliance activities through training, reviews and help desk operations (WFAAN).
WFAGP is looking to recruit suitable candidates for Term Staff (GD) position in the global payments team.
How your contributions will help us achieve our goals
The Term staff will be responsible for processing payments to vendors and staff located at HQ or Country offices. The job requires extensive interaction with HQ (or) the country offices accounting staff and vendors.
What you will do:
• Process payments to staff and vendors within service standards and contractual terms, which includes invoice review, data entry, and payment proposal preparation, review, and release in accordance with established guidelines.
• Track and clear invoice work items assigned in the SAP inbox; check emails received from clients and take immediate action; resolve cases that require special attention.
• Follow up with TTLs, managers, other staff, and vendors regarding pending workflow items.
• Apply provisions of US GAAP for accrual accounting.
• Adopt best practices to set off vendor receivables.
• Research and initiate action for vendor debit balances; work with vendor on refunds.
• Investigate and resolve cases for failed payment executions, stop payment requests, and stale-dated checks.
• Execute vendor down-payments, as needed for prepaid expenses and advances and ensure these are netted against subsequent invoices; monitor and resolve open down-payments.
• Execute daily Evaluated Receipts Settlement (ERS) process to generate invoice documents in SAP from electronically approved service entry sheets.
• Provide resolution to vendor claims relating to non-payment or incomplete payment or insufficient information to apply payments.
• Respond to queries from vendors, units, relating to invoice payments.
• Analyze / research / act on requests for accounting adjustments relating to accounts payable, engage in discussion as needed to understand and determine action required.
• Submit employee reimbursement request for miscellaneous payments to consultant and non-PO payments to firms.
• Coordinate with the vendor master team to update banking information.
• Maintain excellent client rapport and demonstrate client service skills in resolving issues.
• Participate in ad-hoc activities such as system testing and other assigned tasks.
What you will bring:
• Bachelor’s degree in accounting, Commerce, or related field.
• A minimum of 3 years of relevant experience
Knowledge and Skills:
• Substantial work experience with transaction processing using integrated, automated accounting systems with a comparable level of complexity to the SAP system; a proven track record of problem-solving skills in an automated accounting environment; experience with SAP is desirable, but not required.
• Proficiency in Microsoft Windows applications, such as Excel, Word and PowerPoint. Demonstrated ability to learn new technology quickly and effectively.
• Strong verbal and written communication skills.
• Should be client focused, flexible and work effectively work with other staff in the unit and outside.
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.