Saturday, February 1, 2014

Accounting Analyst - The World Bank



Accounting Analyst,

The World Bank ,

Chennai, India

Background / General description:                                            
Apply by: 10 February 2014

The International Finance Corporation (IFC), a member of the World Bank Group, is the largest Multilateral source of loan and equity financing for private sector projects in the developing world. The Financial Reporting Division (CFAFR) of the Accounting and Financial Operations, Department (CFA), of IFC, has overall responsibility for:
  • The preparation and analysis of the Corporation\'s periodic external financial statements in Accordance with applicable accounting standards, currently US GAAP;
  • Liaison with the Corporation\'s internal and external auditors; and
  • Monitoring internal accounting controls and systems developments related to financial reporting.
  • IFC currently has a small team working for the Supervisor of Financial reporting on internal and external financial reporting matters. The team is principally responsible for performance of the monthly closing process, preparation of the Corporation\'s monthly, quarterly and annual financial
  • statements and information systems initiatives that impact the corporation's internal and external financial reporting.
Job purpose and scope:

CFA has co-located some aspects of its work program to CTRCO* Chennai who have recruited staff in the CTRLC* team to deliver this work program on a cross support basis. The team providing cross support will interact with IFC colleagues in Washington on a day - to - day basis and ensure that the service level agreement is met.

This position will support the Financial Reporting and Accounting Policy Unit (CFAFR). The Successful candidate is expected to be current with accounting developments and be proactive in responding to the rapidly changing accounting environment. The Division's work products are expected to be technically sound, timely and well researched. The individuals within the Division are expected to be team players and self-starters in identifying and undertaking projects.

The World Bank Chennai office (CTRCO) comprises several teams that support operations in Washington ranging from Accounting to Treasury to Technology functions. The Loan Client and Financial Services (CTRLC) team, in Chennai, provides cross support to several functions within Controllers in IFC.

Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 2 year term appointment.

Duties and Accountabilities:

Key Responsibilities
  • Preparation of monthly general ledger/subsystems reconciliations to ensure accurate and full recording of subsystem transactions in the general ledger in accordance with existing procedures and protocols;
  • Participation in the Corporation\'s monthly closing process, including the preparation of monthly, quarterly and annual financial statements and reports;
  • Participation in the implementation of new features or enhancements to existing accounting systems;
  • Documentation and maintenance of processes, controls and checks for financial reporting;
  • Regularly share key information on processes, timelines, status, responsibilities, expectations and potential problems with supervisors and team members and seek their input; and
  • Performing other duties as assigned from time to time.
Selection Criteria:

Candidates should have the following qualifications and experience:
  • Bachelors or Masters in business or related field. CPA, ACA, or equivalent is required;
  • Minimum of 3 years\' experience in similar or complementary roles within financial institutions and/or public accounting firms required;
  • Knowledge and experience with US GAAP/IFRS with specific regards to financial products (e.g. loans, equity investments, bonds, swaps, options), product\'s life cycles and legal structures that may have accounting ramifications;
  • Experience performing account reconciliations and analysis, proficient in working with large data volumes and diligent in documenting workflows;
  • Competent in office technology tools with advanced Excel skills;
  • Understand accounting information flows across multiple systems (corporate centralized database, accounting subsystems and general ledger, MIS etc). Experience and knowledge of IFC/World Bank Group accounting systems (SAP, Summit) and project workflows is advantageous;
  • Effective communication skills in English, including strong writing, editing and reporting skills. Knowledge of other languages a plus;
  • Strong interpersonal skills and cultural sensitivity;
  • Comfortable working in pressured environment with capacity to deliver high-quality outputs and results to tight deadlines;
  • Ability to multitask and work effectively in multidisciplinary teams; and
  • High degree of self-motivation and proven ability to work under minimum supervision and as par to of a team.
COMPETENCIES
  • Project Management - Understands the basic concepts of project management, as they relate to the execution of tasks within a project
  • Business Processes & Systems - Has basic understanding of business processes and systems (including accounting systems) to recommend and help implement process improvements.
  • Fundamental Controllership Knowledge - Has a basic understanding of general accounting principles, risks and controls, financial concepts and financial transaction processes.
  • Accounting Policy - Understands accounting principles and, under guidance of senior staff, is able to apply accounting principles to appropriately record transactions.
  • Transaction Processing - Has substantial work experience with using automated systems to process transactions.
  • Financial Products - Has a basic understanding of the range of available financial instruments (e.g., IBRD loans, IDA credits and grants, and trust funds).
  • Risk Management & Internal Controls - Applies basic understanding of internal controls/risk management principles to document risks and controls in Bank activities.
  • Client Orientation - Takes personal responsibility and accountability for timely response to client queries, requests or needs, working to remove obstacles that may impede execution or overall success.
  • 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 - Actively seeks knowledge needed to complete assignments and shares knowledge with others, communicating and presenting information in a clear and organized manner.
  • Business Judgment and Analytical Decision Making - Analyzes facts and data to support sound, logical decisions regarding own and others' work.
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