- World Bank
- Salary in line with the industry standard
- 13 Oct 2021
- 12 Nov 2021
- Job Function
- Corporate Finance
- Industry Sector
- CFA Charterholder, Passed CFA Level II, Passed CFA Level III (Charter Pending)
- Employment Type
- Full Time
Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org
The World Bank Group Finance & Accounting (WFA) Vice Presidential Unit is responsible for all aspects of the financial reporting and internal control framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the extensive Trust Fund/Partnership portfolio of these entities. WFA also leads the client shared service function for the WBG corporate expenses and WBG trust funds, ensures fiduciary responsibility for all disbursements related to Bank operations.
Located within the WBG Corporate Accounting & Reporting Department (WFACA), the Structured Finance Division (WFASF) is responsible for product control functions for financial instruments, including borrowings and investments as utilized by IBRD, IDA, MIGA and Trust Funds for their operations, except for pension funds. These include financial instrument product aligned accounting, set-up of financial models and valuation review, market data sourcing and verification, implementing accounting policies around financial instruments, independent price verification for investments, financial instrument related data management, exercising internal controls to ensure accuracy of accounting ledgers and financial statements regarding these financial instruments. In addition, WFASF team is involved in a host of critical institutional projects and initiatives that seek to enhance WB’s ability to capture and integrate data from different sources into, accounting, valuation and reporting systems and ultimately enable analysis that serves financial and / or management reporting needs.
The current position is that of Financial Analyst in the borrowing group in Chennai (WFASC), which is an extension of the WFASF team in HQ.
Duties & Accountabilities:
The Financial Analyst will work as part of a team of professionals to meet the group’s responsibilities as they relate to the accounting and pricing / valuation of financial instruments, and implementation of various projects.
Responsibilities will include the following:
- Producing and reviewing valuations for financial instruments, utilizing systems and tools such as Numerix OneView, Murex, Summit, CrossAsset XL, etc.
- Analyzing and comparing WB valuations against corresponding counterparty valuations and other alternative information sources
- Preparing and ensuring quality of calculated market data, evaluating data sources, and verifying data reliability
- Verifying trade set-up and trade modifications
- Applying internal controls effectively and exercising due diligence in performing regular and ad hoc processes; Exercising fiduciary responsibility by reviewing policies and procedures and ensuring they are correctly followed
- Identifying, investigating, and resolving system-to-system reconciliation breaks and trade set up discrepancies
- Developing expectations, performing analysis, preparing commentaries, suggesting, and implementing solutions in a proactive manner
- Preparing various financial and management reports, as required by the department or other stakeholders
- Coordinating with external and internal auditors, when required
- Proactively interacting with WFA colleagues and Treasury (TRE) front office business units and other units as required to stay abreast of new / proposed activities that may have accounting, valuation or reporting implications
- Proactively interacting with other financial institutions to ensure that practices adopted are in line with the market practice. Staying abreast of industry best practice as it relates to valuation / accounting of financial instruments.
- Identifying opportunities for improvements in current processes, initiating improvements within the system and control framework; working with business and technology teams across locations to implement solutions / improvements.
- Leading / participating in institutional projects, business initiatives and new product implementations, as and when required
- Contributing to requirement specification, testing, implementation, and maintenance of systems supporting various portfolios
- Maintaining and developing processes, procedures, documentation, and internal controls around portfolios handled, with the objective of increasing efficiency and accuracy
- Mentoring and training junior staff and performing review of work done by such staff, as and when required
Education and Experience:
- Bachelor’s degree(s) in Accounting, Finance, and/or Economics and a minimum of 3 years’ relevant experience or equivalent combination of education and experience.
- CFA/FRM and / or CA/CPA/ACCA/CGMA. Master’s degree(s) in Accounting, Finance, and/or Economics may be considered in lieu of CFA/FRM and / or CA/CPA/ACCA/CGMA
- Professional experience with major financial institutions, with practical knowledge of product control functions (such as valuation and accounting) related to financial instruments
Core Technical Knowledge:
- Deep knowledge of treasury products / financial instruments and derivatives (i.e., capital and money market instruments, particularly fixed income instruments) and their valuation methods
- Working knowledge of Numerix (including CrossAsset XL) and / or other valuation platforms
- Working knowledge of Murex / Summit or other front-to-back treasury systems, and integrated financial systems such as SAP, SAP BI/BO reporting tools
- Good understanding of market data requirements for capital / investment market transactions and knowledge of Bloomberg / Reuters
- Proven quantitative and qualitative analytical skills, including excellent spreadsheet and skills. Familiarity with financial modeling techniques, programming languages (e.g., Python), writing macros will be a plus.
- Experience in supporting implementation of system applications / tools – preparing specifications, design analysis, testing, etc.
- Ability to contribute to team performance with strong interpersonal and communication skills
- High level of initiative, self-confidence, and a self-starter; proven problem-solving skills, ability to deliver high quality results and operates with minimum supervision
- Proven capacity to deliver results and respond quickly and effectively to requests. Ability and desire to meet tight deadlines.
- Flexibility to perform a variety of tasks and expand the scope of work and responsibilities; committed to achieving individual and team results
- Excellent verbal and written communication and presentation skill
- Highest ethical standards
Interested candidates should apply online by October 18, 2021, at the World Bank Careers page https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=13324&site=1