Job Description
The primary purpose of the job is to execute and monitor financial control activities, perform centralized business processes, apply donor contributions to individual trust funds and prepare reports for the use of management and donors.
Duties & Responsibilities
Execute centralized business processes, such as investment income allocation to individual trust funds and administration fee recovery, in a timely and accurate manner.
Carry out periodic financial control activities, including system interface reconciliations, and monitoring of suspense accounts & inter-company billing.
Perform critical month-end closing activities (such as accounting model reconciliation, review of key accounts, business table reconciliations, trial balance analysis, etc.) and ensure month-end close per production schedule.
Provide analysis of deferred administration fees for the purpose of financial reporting and ensure periodic remittance of deferred fee to IBRD.
Ensure timely conversion of non-USD currency balances of fee accounts to minimize foreign currency exposure due to exchange rate fluctuations.
Ensure weekly settlement of expenses to IBRD.
Support budget reorganization activities as required by CSRRM.
Compile various trust fund financial reports such as monthly financial report on trust funds disbursements, biannual trust fund financial information summary, etc, and perform peer review of reports prepared by other team members.
Provide trust fund financial information for reports such as monthly flash report to the President, quarterly report to Audit Committee, notes to IBRD’s Financial Statements and World Bank’s Annual Report; provide ad-hoc trust fund financial information to the management and other business units, as required.
Review and ensure upload of quarterly trust fund financial reports and other reports on the Donor Center.
Apply donor contributions to individual trust funds in a timely & accurate manner and collaborate with task teams to ensure timely application of receipts; initiate action to convert foreign currency receipts into USD, when required.
Participate in special projects and coordinate with technical teams on system changes, enhancements and testing.
Collaborate with colleagues, clients and counterparts to resolve day to day accounting and reporting issues.
Provide inputs and actively participate in initiatives to improve process-related controls.
Provide a variety of metrics / charts to be included in the overall departmental operations report.
Desired Candidate Profile
•A relevant Bachelor's degree (Finance, Accounting, Business Administration, Economics, Commerce). Preference will be given to applicants with Chartered Accountant / Cost Accountant qualification.
•Minimum 3 years post qualification experience.
•Proven working experience on accounting and reporting processes using automated accounting systems preferably SAP.
•Demonstrated good judgmental and analytical skills.
•Excellent problem solving skills.
•Proficiency in Microsoft Office tools.
•Good interpersonal and communication skills (both written and oral).
•Strong client focus and excellent team player.
Company Profile
We are made up of two unique development institutions owned by 186 member countries: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
Each institution plays a different but collaborative role in advancing the vision of inclusive and sustainable globalization. The IBRD aims to reduce poverty in middle-income and creditworthy poorer countries, while IDA focuses on the world's poorest countries.
Their work is complemented by that of the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and the International Centre for the Settlement of Investment Disputes (ICSID).
Together, we provide low-interest loans, interest-free credits and grants to developing countries for a wide array of purposes that include investments in education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management.
The World Bank, established in 1944, is headquartered in Washington, D.C. We have more than 10,000 employees in more than 100 offices worldwide.
Contact Details
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