IFC—a member of the World Bank Group—is the largest global development
The IFC Controllers Department (CNT) 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 Integration, Systems and Projects. The Department comprises approximately 125 diverse and highly skilled staff, based in Washington DC, and Chennai.
The Portfolio Review unit in Controllers (CNTPR) provides governance and oversight, primarily from a financial reporting perspective, on IFC’s investment products subject to loss provisioning across all industries and geographical regions. Specific governance responsibilities include assessing the appropriateness of individual and portfolio loss reserves against loans, guarantees, debt securities, trade finance facilities and other receivables, and write-downs in the Investment Portfolio.
In addition, the unit chairs quarterly portfolio review meetings with IFC Portfolio Managers that serve as focal points for discussion of portfolio issues impacting financial reporting, engaging key stakeholders in Credit, Risk, Portfolio Management and Financial Operations.
Given the complexity of both IFC’s portfolio and the accounting rules under which IFC prepares its financial statements (US GAAP), the function is called upon to blend knowledge about valuation principles for non-traded investments, credit analytics, and an ability to analyze macro developments impacting IFC’s Investment Portfolio with sound knowledge of complex accounting requirements to ensure proper recording of portfolio matters in IFC’s financial statements.
CNTPR manages IFC’s Investment Portfolio Accounting and Reporting (IPAR) system in order to produce accurate monthly financial results. IPAR is IFC’s accounting and financial reporting system for documenting, calculating, and reporting loss reserves in IFC’s Investment Portfolio.
CNTPR is also the primary contact for the quarterly and annual audits of loan loss reserves and provides loss provisioning and portfolio reporting trainings in Headquarters and in the field.
CNTPR has co-located part of its work program in IFC’s Chennai office under the Financial Reporting (CNTFM) unit. CNTPR is seeking a qualified Financial Analyst, who will jointly report to the Team Leads of CNTPR in Washington DC and CNTFM in Chennai, to support the delivery of all aspects of CNTPR’s work program. The individual must have experience in financial analysis with knowledge of US GAAP and/or IFRS as it applies to IFC and its product lines, and exceptionally strong analytical and quantitative skills with the ability to work proficiently with large data sets. This position provides an opportunity to obtain expertise in the calculation of individual and portfolio loan loss reserves and first-hand understanding of financial reporting of portfolio investments. Furthermore, the role offers scope for skills development in credit analysis and valuation of IFC’s Investment Portfolio worldwide.
Duties & Responsibilities:
The Financial Analyst is a key member of the CNTPR team which requires frequent interactions with internal counterparts in Controllers departments and external clients in Investment/Portfolio, Credit, Risk, Treasury and IT departments in Washington DC, Chennai and other field offices. Her/his tasks and responsibilities will include, but are not limited to:
• Prepare analytical materials and support quarterly portfolio review meetings with IFC Portfolio Managers and teams.
• Bachelor’s or Master’s degree, preferably in finance, accounting, business, economics or risk management. Certification such as CFA, FRM, CA/CPA or CGMA would be a plus;
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.
|Closing date:||October 19, 2021|