E T Temporary

Job #: req22921

Organization: World Bank

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: 6/12/2023 (MM/DD/YYYY) at 11:59pm UTC

Description

Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. 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 World Bank Group Finance and Accounting (WFA) Vice Presidency Unit, is responsible for all aspects of financial reporting and the internal control framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC) and the extensive Trust Fund/Partnership portfolio of those entities. The VPU is also responsible for expressing a Finance viewpoint on controls over Bank Group operations.

WFA comprises the following functions: Financial Instruments Accounting and Valuation; Loan Operations; Accounting Business Services; Financial Analysis and Reporting; Accounting Policy; Documentation and Communication; Advisory Services; and Operational Risks and Controls. These units collectively include approximately 500 staff, of which approximately 170 are in Washington, D.C., with the remainder in regional offices including the largest in Chennai, India.

Unit Overview

The WBG Trust Fund and Loan Operations Department (WFATL) in WFA provides a number of financial operation activities, notably financial services, compliance, disbursements, accounting, reporting, and analytics for IBRD/IDA loans and Trust Funds.

WFATL consists of two divisions, each managed by one manager.

The first division, WFACS, is devoted to providing client services and related operations for the loans business and external clients and is organized along business lines serving the regions and global practices. The Services within the area of WFACS responsibilities fall under three categories: regional coordination, country focal point assistance, and project-level fiduciary and portfolio management.

The second division, WFAAS, is focused on supporting both the WBG’s Trust Funds and Loans portfolios, for example, providing advice on the design and implementation of new trust funds, policies, or processes, as well as many activities associated with the implementation and closure of loans or trust funds, including account creation and maintenance, disbursement transactions, trust funds and loans accounting and reporting and helpdesk functions. These two divisions work closely and collaboratively with one another, in addition to with other Bank units.

Division overview

WFAAS division is split into (a) Advisory teams, based out of Washington DC, and (b) Operational support teams, based out of Chennai. The Operational support team in Chennai (WFALF), is split into three sub-teams viz., (i) TACT, (ii) Trust Funds accounting and reporting, and (iii) Loan accounting and reporting. Together, the Division provides end-to-end support for IBRD/IDA Loans and WBG Trust Funds, in terms of,

•  Providing upstream advice to Bank teams and influence the design of new loan agreements to ensure: compliance with fiduciary, reporting, internal control requirements and best practices
•  Support, help design, and ultimately implement and account for new and emerging loan products, in addition to the existing loans portfolio
•  Ensure the accuracy and integrity of the Trust Fund and Loan modules, financial ledgers and related interfaces, which capture all TF and Loan activities
•  Report on Trust Fund and Loan accounts at the individual account and portfolio level through, audited/un-audited financial statements, management reports, analyses and trends for corporate reporting, donor specific reports, etc.
•  Maintain/enhance/develop underlying systems, tools and applications to cater to the changing business needs

This is an advertisement for a E T Temporary, in the Trust Fund reporting Team forming part of the Operational Support in Chennai. This position reports to the Trust Fund reporting Team Lead.

Duties & Responsibilities:

The primary purpose of the job is to execute financial accounting activities for certain trust funds programs and support other reporting deliverables of the team.

•  Carry out day-to-day accounting functions involving fund transfers, expense transfers, interim budget recoveries, budget updates and cancellation of funds for assigned programs within the ambit of trust funds accounting / administration policies / procedures and agreed Service Level Agreement (SLA) parameters;
•  Manage expense reposting requests from clients, review and process such requests efficiently in accordance with the reposting guidelines and agreed SLA.
•  Assist external auditors by providing the required supporting documentation in support of financial statements, in coordination with various Country Offices, within the agreed service level agreement (SLA) parameters;
•  Initiate procedures to close assigned trust funds when due and return unutilized funds as per the procedures after completion of closure process;
•  Monitor and resolve inconsistencies in master data /general ledger using exception reports;
•  Compilation of the relevant legal documents and the general ledger extracts to serve as back up documents for the financial statements for trust funds requiring audit;

Process improvements & automation projects:

•  Participate/Assist in automation projects and coordinate with technical teams on system changes, bug fixes, enhancements and testing
•  Contribute to the continuous improvements and process enhancement initiatives surrounding trust fund and Loan processes aimed at simplification and/or enhancements to process quality and controls;
•  Provide inputs and actively participate in various institutional projects;

Others:

•  Provide a variety of metrics / charts to be included in overall departmental operations report to measure progress of operations vis-a-vis agreed norms for management information and action.

Selection Criteria

•  A bachelor’s degree in related field, semi-qualified CA (CA Intermediate level) with minimum 5 years of relevant work experience;
•  Exposure to an integrated accounting system would be highly desirable;
•  Attention to detail and numerical accuracy while managing multiple tasks and projects;
•  Good team player, with a strong client and results orientation, capable of working within a multicultural environment, with minimum supervision;
•  Good written and oral language skills in English;
•  Ability to deal with rapidly shifting priorities and work demands, and willingness to learn new skills and seek help from colleagues;
•  Strong computer skills, and basic understanding of information systems and the application of newer technologies.

Competencies:

Deliver Results for Clients – Takes full ownership to address client needs. Demonstrates initiative, independence and autonomy in addressing client needs in changing business contexts and environments. Has knowledge of department strategy, vision, and goals and can link them to those of the larger organization. Allocates and prioritizes resources according to areas of most urgent need and greatest impact for the client.

Collaborate Within Teams and Across Boundaries – Contributes to wider collaborative efforts. Adopts a collaborative approach to improve overall effectiveness outside one’s department and displays an open helpful attitude toward others. Approaches conflicts as common problems to be solved. Demonstrates

understanding of and acts to incorporate multiple perspectives. Frames thinking/actions with a WBG corporate perspective in mind

Lead and Innovate – Initiates changes to work processes to improve efficiency and performance. Applies creativity, flexibility and persistence to develop new approaches. Considers own behavior in context of

WBG’s values and mission and recognizes impact on others. Frames problems and recommends solutions

Create, Apply, and Share Knowledge – Actively promotes knowledge-sharing. Takes ownership for organization of knowledge-sharing and learning activities. Contributes to the knowledge of the work group and beyond. Uses feedback to develop self and mentor others. Builds personal and professional networks within and beyond the work group.

Make Smart Decisions – Analyzes data to support and enable decision-making. Anticipates, researches, reviews, and analyzes available data and relevant empirical evidence, including lessons learned. Understands risk and can provide basic assessment using cost-benefit analysis. Uses critical thinking and good judgment to make decisions. Supports decisions, takes action and ensures appropriate follow-up

actions are taken.

Client Understanding and Advising – Follows through on client inquiries, requests, and addresses problems promptly and nondefensively. Proactively keeps the client up-to-date on the progress of projects. Makes decision by following guidelines and procedures.

Broad Business Thinking – Keeps informed on business operations. Inquires about the relationship of delivered support/services to the business as it pertains to assigned area of responsibility and related

projects. Seeks out relevant information related to clients from available sources including supervisors, peers, clients, intranet/Internet, and documentation. Provides a business-based rationale for determining the necessity of incremental improvements and communicates viewpoint using the client’s own terminology with limited jargon.

Project Management – Sets personal objectives and goals and manages use of own time. Works towards accomplishing own daily, weekly and annual objectives. Learns from mistakes, and adjusts goals and courses of action to meet changing needs. Sets priorities for his/her work in order to stay on top of the workload and tackle the most important issues first. Considers work/project timelines and the time it takes to get things done. Sets priorities, properly plans, keeps track of activities completed and in progress, and keeps clear, detailed records of activities related to accomplishing stated objectives,

arrangements, etc.

Analytical Thinking – Gathers and links data. Reviews for non-conformity and gathers further information in response to problems. Collates and reports information. Identifies direct cause-and-effect relationships. Identifies trends and exceptions. Investigates to define problems more accurately. Sorts information in order of importance. Identifies relationships and linkages between components. Identifies variable potential causes and effects. Solicits guidance to define criteria and assign values of importance and urgency. Escalates issues of both a routine and exceptional nature.

Policies and Procedures – Gathers and links data. Reviews for non-conformity and gathers further information in response to problems. Collates and reports information. Identifies direct cause-and-effect relationships. Identifies trends and exceptions. Investigates to define problems more accurately. Sorts information in order of importance. Identifies relationships and linkages between components. Identifies variable potential causes and effects. Solicits guidance to define criteria and assign values of importance and urgency. Escalates issues of both a routine and exceptional nature

Risks and Controls – Demonstrate understanding of key risks and internal control procedures in the related processes. Able to identify key risks and mitigating control steps in own functional areas. Perform internal control procedures in compliance with the overall risk and control framework. Takes proactive measures to know the internal control procedures (e.g., talks with business leaders about their goals and priorities).

IT and Systems – Exhibit working knowledge of key information technology and main systems in own function areas. Effectively utilize such technologies and systems to successfully carry out work programs.

Communication – Utilize appropriate tools and techniques to explain technical information in plain language. Present information in a logical and organized manner both in speech and in writing. Writes effective correspondence, prepares questions and reports, statements of circumstance and briefing notes

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 for an additional one year, at the discretion of the World Bank Group, and subject to a lifetime maximum ET Appointment of two 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 second-year ET appointment are not eligible for future ET appointments