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 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
The IFC 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 Reporting and Analysis unit (CNTRA) within the Controllers Department is responsible for preparing timely and accurate periodic financial reporting to internal and external partners and facilitating the external audit and issuance of audit and review opinions by the external auditors on IFC’s annual and quarterly financial statements. The CNTRA unit provides assurance on the integrity of the financial ledgers and financial information. The Unit is responsible for coordinating the monthly closing process, including advising and collaborating closely with the decentralized accounting units. The Reporting and Analysis team also works with other units in determining the impact of new and proposed accounting standards and new complex transactions in Financial Statements and Management reports.
CNTRA has co-located some aspects of its work program to IFC’s Chennai Office (CNTCO), who have recruited staff in the IFC Financial Reporting team (CNTFM) to deliver their work program. IFC Controllers Department is seeking a Financial Analyst in the CNTFM unit in Chennai. This position will report to the Team Lead of CNTFM unit in Chennai.
Duties & Responsibilities:
The Financial Analyst is key member of the CNTFM team and is required to undertake frequent interaction with internal counterparts in Controllers department. Her/his tasks and responsibilities will include, but are not limited to:
• Support the monthly closing process, including reviewing financial results for reasonableness, and performing other control activities.
• Assist with the preparation, review, and filing of the quarterly and annual MD&A and financial statements, including disclosures.
• Build and maintain procedures related to the monthly closing process, the preparation of the financial documents, and other periodic reporting.
• Support the team’s analytical review procedures and reporting, including researching and documenting significant fluctuations in balance sheet and income statement accounts, performing reasonableness checks, and other ad hoc analysis.
• Perform impact analysis of market movements (i.e. interest rates, exchange rates, etc.) on the Corporation’s portfolios / financial instruments (e.g., IFC loans, debt securities, equity investments, borrowing’s, and liquid assets).
• Assist in creating efficiencies and improving the value of our work by streamlining and automating our current reporting processes.
• Participate in the testing and implementation of new features or improvements to existing accounting and reporting systems.
• Research and respond to questions and queries received from internal clients, external auditors, and senior management.
• Chartered Accountant or equivalent designation (e.g. CPA, CA, ACCA or equivalent) and a Bachelor’s or Master’s degree in accounting or finance
• Minimum of 3 years of relevant experience in similar or complementary roles within financial institutions and/or public accounting firms preferred
• Knowledge and experience with US GAAP/IFRS with specific regards to financial products (e.g. loans, equity investments, bonds, swaps, options), product life cycles and legal structures that may have accounting ramifications would be a plus
• Understand accounting information flows across multiple systems (corporate centralized databases, accounting subsystems and general ledger, MIS etc.)
• Experience performing account reconciliations and analysis independently, proficient in working with large volume of data and diligent in documenting workflows
• Strong communication skills (in English), both written and oral
• Ability to work independently, take initiative, and anticipate and respond quickly to situations
• Proficient in office technology tools, including Word and Power Point and demonstrated strength with Excel
WBG Core Competencies
• Deliver Results for Clients – Achieves results and identifies solutions.
• Collaborate Within Teams and Across Boundaries – Initiates collaboration across boundaries and broadly across WBG, bringing differing ideas into the forefront.
• Lead and Innovate – Develops innovative solutions with others.
• Create, Apply and Share Knowledge – Creates, applies, and shares knowledge from across WBG to strengthen internal and/or external client solutions.
• Make Smart Decisions – Recommends and takes decisive action.
Controller’s Department Proficiencies
• Client Understanding and Advising: Advises clients and helps them think proactively about how to best meet their current and future needs, taking into considerations the real underlying issues. Works across CNT and with other VPUs to define client needs and develop the right solutions to meet those needs. PLUS: Provides recommendations to multiple VPUs that can add value to customers beyond normal offerings.
• Broad Business Thinking: Maintains an in-depth understanding of key business issues. Sets clear explanations for the integration and alignment of CNT solutions with business functions. PLUS: consider WBG wide implications in decision making to ensure consistency across WBG. Sponsors long-term VPU-wide initiatives.
• Information Technology and Systems: Demonstrates understanding of the functions and operations of pertinent IT systems and applications. Provides inputs to IT system enhancement efforts based on day to day working experience and knowledge of the systems.
• Analytical Thinking: Coordinates the information gathering and reporting process. Reviews trends and compares to expectations. Conducts analysis to define problems and prepares responses to anticipated questions.
• Policies and Procedures: Demonstrates thorough knowledge of policies and procedures in related fields.
• Risks and Controls: Leads by example and serves as good practice champions in completing internal control procedures, including understanding impact beyond own immediate functional areas.
• Communication: Adapts the communication style appropriate for the intended audience. Adopts an inclusive approach to communication as is appropriate to the situation, so as to ensure adequate partner participation. Presents information effectively and encourages feedback.
• Project Management: Understands and utilizes the concepts of project management, as they relate to implementation of a project.
|Closing date:||April 20, 2021|