E T Consultant – Finance & Accounting

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  • Posted:
    4 days ago
  • Category:
    Budget and Accounting, Finance
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Organization: International Finance Corporation
Deadline: 29-Mar-23



IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
The IFC’s Controllers Department is responsible for effectively and efficiently managing IFC’s Financial Operations (loan, equity and short-term finance operations, and back-office 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 Treasury Support Operations (CNTTR) Division within IFC Controller’s Department provides back-office and accounting services for all IFC’s Treasury activities. CNTTR has co-located some aspects of its work program to IFC’s Chennai Office (CNTCO), who have recruited staff in the IFC Treasury Operations Support team (CNTTS) to deliver this work program. The Division also provides operational support in the development of IFC Treasury’s new business initiatives and products. The Division delivers its work program on a cross support basis; the Chennai team interacts with colleagues in Washington on a day–to–day basis and ensures that the support operations are successfully delivered. The team provides support and interacts with IFC colleagues in Washington on a day–to–day basis. 
The Consultant (ETC) shall interact extensively with internal partners, such as Loan Operations counterparts, Equity operations, Cash Management unit, and IFC Financial Reporting team. This is a technically specialized position that will support processing operations of Treasury transactions, including bonds, derivatives, etc. The position requires working knowledge of treasury products, and relevant accounting standards, as well as proficiency in handling multiple systems, including Summit (the front-to-back treasury system), payment processing system (Quantum), etc. The selected candidate will be required to work with various team functions and become a fully functional team member within a short timeframe. The position requires the ability to establish productive relationships with staff at all levels within the team and across various units of IFC. The incumbent will report to the Financial Operations Officer in CNTTS, Chennai. The staff should be open to flexible hours and follow the Washington D.C. (HQ) holiday calendar, as the work program involves dealing with global markets.
Roles and Responsibilities
The E T Consultant will work as part of a team of professionals to meet the group’s responsibilities as they relate to delivery of back-office functions for all IFC Treasury funding and liquid assets management activities. Responsibilities will include the following: 
•  Assist in timely investigation and reporting of unidentified/unapplied items, non-receipts/non-payments and compensation claims to all we serve
•  Assist in month/quarter/year end closure of cash application
•  Assist in validating and processing of settlement and payment activities of new and existing transactions. This task involves collaborating with the market counterparts, custodians, banks, and other partners to confirm transactions, settlement flows and perform other trade servicing, analysis, reconciliation and troubleshooting activities
•  Bank reconciliation for operations accounts and Liquid Asset Management (LAM) accounts
•  Cash forecast analysis, Overdraft reporting & analysis, Bank charges analysis & Compensation claims
•  Prepare and process a suite of SWIFT messages that support Treasury transactions
•  Participate in testing and implementation of new/enhanced systems and processes
•  Ensure that all business processes in the unit are properly documented and followed
•  Carry out and/or participate in any other ad hoc tasks as may be assigned by the Team Lead
•  Communicate effectively with IFC Treasury Support Staff and management both in Chennai and in Washington, D.C. headquarters on the status of all assigned activities
•  Continually look for opportunities to improve processes and internal controls. Be responsible for promoting controls and ensuring compliance


Selection Criteria


•  Bachelors or Master’s degree, preferably with a major in business administration, accounting, finance, or international trade. Professional qualification such as CA/CPA/ACCA/CGMA and/or CFA/FRM would be preferred
•  Minimum 3 years of experience in related fields with a public / private financial institution (including IFC/IBRD) or the finance / treasury function of a public / private corporation.  Proven track record in previous position
•  Knowledge of IFC systems, procedures and policies shall be advantageous. (IFC uses Summit and Quantum)
•  Ability to contribute to team performance with strong interpersonal and communication skills with attention to details
•  Dedicated teammate with excellent organization skills and ability to interact tactfully and professionally with clients and staff
•  Ability to independently deliver quality results under pressure
•  Excellent problem solving and analytical skills
•  Solid skills and knowledge of the latest information and office technology, and relevant business tools
•  Highest ethical and business conduct standards
•  Proficiency in written and spoken English required. Proficiency in another WBG working language a plus


World Bank Group Core Competencies

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