E T Temporary
JOB DETAIL
| Description
The World Bank Group (World Bank) is one of the world’s largest sources of funding and knowledge for developing countries. The World Bank works in more than 100 developing economies to improve living standards and fight poverty. The World Bank uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth and improve the quality of life. The World Bank is owned by 189 member countries whose views and interests are represented by a Board of Governors and a Washington DC-based Board of Directors. More than 190 countries participate in at least one of the five World Bank Group (“WBG”) institutions, each of which specializes in different aspects of development: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA) (IBRD and IDA together also referred to as the “World Bank” or the “Bank”), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), the International Centre for Settlement of Investment Disputes (ICSID).
Treasury is the Vice Presidency, reporting to the Managing Director and World Bank Group Chief Financial Officer, performing treasury functions for the IBRD and IDA and, to varying degrees, for other members of the World Bank Group and other public sector investors. Its activities are organized and grouped into the following departments: Capital Markets & Investment Management, Client Asset Management and Advisory, and Treasury Operations.
Treasury (TRE) has been a large and significant player in the international financial markets for over seventy years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager. Treasury is responsible for: (i) managing approximately $195 billion in assets for the World Bank and other official sector investors; (ii) leading IBRD’s and IDA’s triple-A rated financing programs in international and domestic bond and derivative markets; (iii) conducting asset and liability management for IBRD’s and IDA’s balance sheets; (iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and (v) collaborating with the World Bank member countries to help build their capacity. Staff in Treasury regularly interact and collaborate with other Departments across the Bank and Finance Partners’ teams.
The Treasury Operations Department (TREOP) provides a full range of operational support for the Treasury’s asset management, capital markets and banking businesses. The Department is presently organized into three operational units: Asset and Liability Operations (TREAL), Cash and Banking Operations (TREBK) and Quantitative Solutions and Analytics (TREQA), and a Financial Technology coordination unit (TREFT).
Duties and Accountabilities:
The TRE Operations Chennai (TRECH) is an integral part of TRE and is responsible for a variety of duties providing vital support across its operational divisions. It works closely with the Headquarters in Washington D.C and another shared services center in Sofia, Bulgaria. Under the guidance and supervision of a Team Lead and/or Functional Lead, the incumbent will have responsibilities for specific individual tasks/projects as well as for working as an integral part of the team in executing the Treasury Operation’s work program, while maintaining close relationships with the other Treasury departments.
The Treasury Banking Operations (TREBK) team ensures all World Bank payments, receipts, and FX related to corporate cash activity are processed and performs key reconciliation controls and reporting over cash transactions and investment portfolios. The unit consists of four teams responsible for coordinating to execute the work program: (1) cash planning and ensuring all FX conversions are executed to meet the Bank’s liquidity needs and processing payments and receipts for proper accounting; (2) managing bank accounts and relationships with all corporate banking counterparts: (3) performing controls to ensure the completeness, accuracy and validity of all cash and security positions, investigating and resolving differences with external records, and financial reporting of cash balances and external client reporting of investment holdings; and (4) managing the WBG’s SWIFT infrastructure and maintaining SSIs and key static data related to payment and receipt processing.
The role is in Cash Investigations, Reconciliation and Accounting team which is responsible for performing controls that include the reconciliation and book-keeping of the majority of WBG bank accounts. In performing these functions, the team works closely with internal partners and market counterparts as well as external service providers such as technology vendors, banks, and paying agents. As and when required, the team is also expected to facilitate the implementation of new products, markets, and business-related technology solutions.
His/her primary responsibilities will include, but are not limited to, some combination of the following activities to support any of the business lines in TREOP’s operational division:
• Monitor and process the manual bank statements from different depository or central banks including follow-up of overdue bank statements.
• Assist in performing daily reconciliation of cash transactions (in several currencies) thus ensuring transactions related to corporate cash processed by cash management team are settled correctly, and any exceptions are investigated and resolved.
• Investigate reconciliation differences, performing analysis, posting necessary adjustments for resolution of any differences, preparing commentaries on results / findings, and recommending solutions in a pro-active manner.
• Ensure that the team’s contact document file on the bank accounts is accurate and updated on as needed basis.
• Ensure that all business processes in the unit are properly documented and complied with.
• Assist in the prompt delivery of daily, monthly, quarterly, and year-end deliverables and any other ad- hoc tasks as may be assigned.
• Effectively communicate with TREOP staff and Management both in Chennai and in Washington, D.C. Headquarters on the status of all assigned activities.
**The candidate is expected to work Singapore or London shift and at times will be required to provide extended support to overlap with Washington DC, also is required to observe USA Holiday calendar to meet reporting deadlines as per business needs.
Selection Criteria
• Bachelor’s degree in Commerce, Accounting, Finance or Business Administration with at least 1 year of professional experience.
• Excellent written and verbal communication skills, with the ability to interact tactfully with clients and/or business associates across all levels, while exercising sound judgement in handling confidential information.
• Ability to deal with various third parties such as counterparties, custodians, Central Banks etc. to obtain information.
• Proficiency in Microsoft Windows applications, namely Microsoft Excel and Word.
• Demonstrated ability to learn new technology quickly and effectively for maximum productivity.
• High level of initiative, self-confidence, and a self-starter; ability to apply a practical matured approach to problem solving with minimum supervision.
• Demonstrated ability to handle a variety of concurrent activities with excellent organization and time management skills, mature judgment, attention to detail and ability to work under pressure.
• Diplomacy and strong interpersonal skills with strong commitment to work in a respectful team oriented and multi-cultural work environment.
• Demonstrated ability to handle a variety of concurrent activities with excellent organization and time management skills, mature judgment and ability to work under pressure.
• Highest ethical standards.
Competencies:
• Financial Market Literacy – Can understand financial market processes; reads and analyzes financial reports and data such as holdings, valuation, performance, compliance, account reconciliations, position, margin, and settlement and risk reports.
• Client Services – Contributes successfully to on-site missions or workshops for Treasury clients.
• Process and Infrastructure Development – Makes recommendations to improve efficiency of the accounting, business risk or operations process.
• Operational Risk and Control – Understands the basic concepts of risk management and internal control frameworks.
• Treasury Operations – Adept or expert in processing a suite of transactions such as bonds, FX, or structured transactions, or managing country or transactional bank accounts and reference data.
• Client Orientation – Able to establish partnership based working relationships with internal/external clients. Demonstrates independence, initiative, and autonomy in addressing clients’ needs.
• Drive for Results – Takes personal ownership and accountability to meet deadlines and achieve agreed- upon results and has the personal organization to do so.
• Teamwork (Collaboration) and Inclusion – Collaborates with other team members and contributes productively to the team’s work and output, demonstrating respect for different points of view.
• Knowledge, Learning and Communication – Able to research and draft quality written materials or review adherence of written materials prepared by others to administrative requirements. Able to mentor and guide and organize learning activities within area of assigned responsibilities.
• Business Judgment and Analytical Decision Making – Able to use analytical, problem-solving skills and resourcefulness to make informed and practical decisions to carry out own work. Able to advice on information usage and storage, and policies in the area of assigned responsibilities.
World Bank Group Core Competencies 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. Note: The selected candidate will be offered a one-year appointment, renewable at the discretion of the World Bank Group, and subject to a lifetime maximum ET appointment of three years. If an ET appointment ends before a full year, it is considered as a full year toward the lifetime maximum. Former and current ET staff who have completed all or any portion of their third-year ET appointment are not eligible for future ET appointments. |
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