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    Financial Officer - Washington, United States - World Bank

    World Bank
    World Bank Washington, United States

    4 weeks ago

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    Description


    Financial Officer



    Job #:
    req25046

    Organization:
    IFC

    Sector:
    Financial Sector

    Grade:
    GF

    Term Duration:
    3 years

    Recruitment Type:
    International Recruitment

    Location:
    Washington, DC,United States

    Required Language(s):
    English

    Preferred Language(s):

    Closing Date:
    11/30/2023 (MM/DD/YYYY) at 11:59pm UTC

    Description

    IFCa member of the World Bank Groupis 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 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit

    The IFC Controllers Department is responsible for effectively and efficiently managing IFCs 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 140 diverse and highly skilled staff, based in Washington DC, and Chennai.

    The Financial Operations units (CNTFO) within the Controllers Department have overall responsibility for recording, servicing, and providing post-commitment support for the private sector loan, guarantee, short term finance products and programs, and the equity investments of the International Finance Corporation.

    IFCs Controllers Department is seeking a Financial Officer for the Blended Finance unit (CNTBF) within the Financial Operations team. This position will oversee certain functions of Blended Finance accounting and financial reporting and support the scale up of IFCs Blended Finance business, to ensure compliance with applicable accounting and reporting requirements. The position is based in Washington, DC.

    Duties & Responsibilities:

    The Financial Officers primary responsibilities will include, but are not limited to, the following duties and responsibilities:
    Prepare annual financial statements for Blended Finance programs, including conducting thorough preparation or review of supporting schedules, work papers, and disclosures.
    Manage relationship with auditors of blended finance programs.
    Respond to information inquiries and data requests from both internal clients and external stakeholders to support the financial decision-making, including audit related requests.
    Work closely with the Accounting Policy and other units to review new products, new Blended Finance initiatives and complex transactions for appropriate accounting and reporting.
    Lead the development and streamlining of the accounting and financial reporting processes for Blended Finance programs, to ensure compliance with the program directives and applicable accounting and reporting requirements, such as IFRS, IPSAS or USGAAP.
    Lead the teams initiative to automate and enhance the preparation, review, and analysis of accounting and reporting processes, continuously seeking process optimization. Perform assessments to identify potential issues, actively follow up to correct issues and suggest improvements in business processes and controls in place to prevent recurrence.
    Partner with business partners, IT, and financial operations to ensure end-to-end integration across systems and maintain the integrity of reporting.
    Participate in the assessment, design and implementation of a new internal controls framework for the blended finance program.

    Selection Criteria

    Certified Public Accountant or equivalent designation (e.g., CPA, CA, ACCA or equivalent) is required. Masters Degree preferably with a major in accounting, finance, or business administration.
    Internal Controls certification and proven hands-on experience highly desirable.
    A minimum of 7 years of experience in corporate or public accounting is required. Preference will be given to applicants with a background in financial services industry, particularly in Multilateral Development Banks (MDBs) and Big Four or equivalent public accounting experience.
    Strong understanding of international accounting standards (U.S. GAAP, IFRS or IPSAS) and proven experience preparing financial statements and related disclosures is required.
    Strong analytical skills and project management experience is highly desirable.
    Ability to support the development of IT projects, identify opportunities for automation and propose the right and sustainable solutions to improve operational efficiency.
    Knowledge and understanding of IFCs business, investment products, systems, and processes is preferred.
    Proficiency in relevant IFC IT systems (ACBS, Investran, Quantum, SAP, Swift) with an understanding of booking processes, accounting, and reporting, is advantageous.
    Excellent oral and written communication skills in English, with an ability to convey complex ideas clearly and succinctly to Management and other stakeholders.
    Commitment to work in a team-oriented, multi-cultural environment.
    Ability to work independently, take initiative, and anticipate and respond quickly to situations.
    Excellent skills in MS Excel. Strong digital skills and experience in utilizing tools such as Business Intelligence (BI), Visualization, Generative AI, RPA (Robotic Process Automation), Python, etc., is highly desirable.

    Controllers Department Competencies

    Client Understanding and Advising: Advises the 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 best 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 stakeholder participation. Presents information effectively and encourage feedback.

    Project Management: Understands and utilizes the concepts of project management, as they relate to the implementation of a project.

    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 theWorld BankandIFC, including our values and inspiring stories.





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