Financial Analyst
Job #: req23657
Organization: World Bank
Sector: Treasury
Grade: GE
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
Location: Bulgaria
Required Language(s): English
Preferred Language(s): second language is a plus
Closing Date: 8/20/2023 (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 (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 specialize 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, Treasury Client Solutions and Treasury Operations.
Treasury 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 $185 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.
Treasury Operations is the Department (TREOP) which provides a full range of middle and back-office support for Treasury’s asset management, capital markets and banking functions. The Department is organized in three operational units: Treasury Asset & Liability Operations (TREAL), Quantitative Solutions and Analytics (TREQA), and Banking Operations (TREBK).
Banking Operations (TREBK) 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.
TREBK staff members are in the Bank’s Washington DC headquarters, in the Shared Service Centers in Chennai, India and in Sofia, Bulgaria.
Duties and Accountabilities: The Financial Analyst will have responsibilities for specific individual tasks/projects within TREBK’s Static Data and Swift maintenance team in executing TREOP’s work program, while maintaining close relationships with the other Treasury departments. His/her primary responsibilities will include, but are not limited to, some combination of the following activities: * Provide static data maintenance support for the WBG, process standard requests from internal business units, address and provide solutions to non-standard queries and issues, and perform static data updates within WBG and TRE systems, such as counterparty Standard Settlement Instructions (SSIs), currency holidays and currency code updates, and Swift BIC and domestic payments clearing codes mapping to internal systems.
* Support and maintain Straight-Through Processing (STP) and business processing rules in the WBG’s treasury management and cash transaction processing system. Apply expertise in maintaining these rules to enable WBG business units to support new types of transactions, new clients, and/or new counterparties.
* Effectively manage the process for securely maintaining and sharing WBG’s banking information and Standard Settlement Instructions (SSIs) to internal colleagues and external counterparts. Ensure that: (1) WBG banking information is accurately updated in a timely manner whenever there is a change in WBG’s banking correspondents, (2) relevant currency-specific payment information is maintained and shared, and (3) non-standard requests and issues are addressed and resolved.
* Contribute to the team’s role as the business application owners for the WBG’s Swift infrastructure, including: (1) researching and understanding upcoming Swift standards changes and its impact to WBG business processes, (2) performing User Acceptance Testing (UAT) for any Swift application system changes and upgrades, (3) maintaining and updating Swift Relationship Management Application (RMA) with the WBG’s counterparties, and (4) assisting in the periodic Swift users certification review process.
* Support and maintain effective controls over bank account access through the monitoring and administration of online banking portal access and privileges, and the periodic review and management of the list of WBG staff that have these access.
* Support and maintain effective controls over the list of authorized officers, their authorities, and delegations across various functions of the WBG’s finance complex, bank accounts, and transactions processing.
* Assist in the TREBK team’s role as the Secretariat for a WBG-wide cross-departmental working group focused on financial transaction processing and infrastructure, which includes (1) organizing the agenda, attendance and participation, and presentation materials of the working group’s quarterly meetings, (2) maintaining the working group’s intranet webpage, and (3) publishing a quarterly newsletter.
* Actively contribute ideas and lead the implementation of process improvements to increase the efficiency, improve the accuracy and enhance the controls over how WBG static data, Swift messaging infrastructure, and authorized officers’ lists are maintained. * Prepare and review management reports, including bank briefings, Key Performance Indicators (KPI) reports and other ad-hoc requests for static data related information. * Ability to be flexible and perform ad-hoc functions or back up and assist with other team deliverables.
Selection Criteria
* Fluent in the English language, with strong spoken and written English language skills. * Master’s Degree in Finance, Accounting, or related field (Computer Science / Information Systems, Finance, Mathematics) and 2 plus years relevant experience in the financial services industry, preferably with back-office operations; or bachelor’s degree in Finance, Accounting, or related field with 5 years plus of directly related business experience.
* Business-related certifications are a strong plus (CFA, CPA, CA, CTP or equivalent).
* Knowledge of and familiarity with treasury business lines and back office operational functions, including banking, payment operations and cash management.
* Familiarity with treasury systems (e.g., Murex, Quantum, Summit) and with the Swift messaging system and standards is highly desirable. * Strong understanding of the role of static and reference data in Straight-Through Processing (STP), and the risk and controls around automated transaction and payments processing.
* Strong proficiency in Excel, Word and PowerPoint (proficiency test in Excel to be given). Familiarity with Microsoft Power Platform tools (Power BI, Power Automate, and Power Query) is a strong plus.
* Demonstrated ability to manage simultaneous competing demands to deliver on-time.
* Demonstrated analytical and critical-thinking abilities.
* Demonstrated ability to learn quickly and develop innovative solutions to address new challenges or improve existing processes. * Detail-oriented and strong organization skills.
* Strong communication skills – both verbal and written.
* Demonstrate a high degree of self-motivation, initiative, and accountability.
* Reliable team player, a positive attitude, open and collegial work style with strong interpersonal skills and the ability to collaborate in a team-based, multi-cultural work environment.
* Flexibility to overlap with U.S. hours will be required to meet reporting deadlines along with willingness to travel to Washington DC for training and team projects
* Strong client focuses and services skills, including the ability to listen, assess and respond to client needs. * Complies with 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.
