E T Temporary

7 days ago

Chennai, Tamil Nadu, India IFC Systems Corporation Full time

E T Temporary

Job #:

- req26680
Organization:

  • World Bank
    Sector:
  • Finance & Accounting
    Grade:
  • ET4
    Term Duration:
  • 1 year 0 months
    Recruitment Type:
  • Local Recruitment
    Location:
  • Chennai,India
    Required Language(s):
  • English
    Preferred Language(s):

Closing Date:

  • 3/25/2024 (MM/DD/YYYY) at 11:59pm UTC
    DescriptionInnovation and partnership bond the five institutions of the World Bank Group (WBG): the International Bank for Reconstruction and Development (IBRD or the Bank); the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). The World Bank Group is one of the world's largest sources of funding and knowledge for developing countries. It uses financial resources and extensive experience to help poor nations reduce poverty, increase economic growth, and improve the quality of life. To ensure that countries can access the best global expertise and help generate cuttingedge knowledge, the World Bank Group is constantly seeking to improve the way it works. Key priorities include delivering measurable results, promoting openness and transparency in development, and improving access to development information and data.

The Bank Treasury (Treasury) is the Vice Presidency performing treasury functions for the IBRD and for other members of the World Bank Group.

Its activities are organized and grouped along three segments:
asset management, banking and debt management, and capital markets services.

Treasury has been a large and significant player in the international financial markets for more than fifty years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager.


Treasury is responsible for:
(i) managing more than $130 billion in assets for the Bank and other official-sector investors; (ii) leading the Bank's financing program in international and domestic bond and derivatives markets; (iii) conducting asset and liability management for the Bank's balance sheet; (iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and (v) collaborating with the Bank member countries to help build their capacity.

Treasury's staff regularly interacts and collaborates with the other departments across the Bank and Finance Teams, including:

Legal Finance (LEGFI), WBG Finance and Accounting (WFA), Development Finance (DFi), WBG Chief Risk Officer VPU (CRO) and WBG IT Finance (ITSFI).The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group's funded benefit plans, including the retirement scheme - the Staff Retirement Plan, the retiree medical and life insurance programs - the Retired Staff Benefits Plan, and other ancillary benefits.

The Pension Administration Division (PENAD) is part of (PEN) and has two teams located in the Bank's offices Washington, DC and Chennai, India.

PENAD provides a full range of support functions for the administration of the Staff Retirement Plan (SRP), the Retired Staff Benefits Plan (RSBP) and the Post-Employment Benefit Plan (PEBP).

These Plans cover approximately 15,000 active staff and 9,000 retirees around the world. PENAD determines and administers payment of pension benefits to retirees in U.S.

dollars and foreign currencies, accounts for the pension benefit payments, and provides a comprehensive educational program to disseminate the Staff Retirement Plan provisions to participants in the headquarters and country offices.

The World Bank Group is committed to achieving diversity in terms of race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply. Duties & Accountabilities
Duties and responsibilities of this position include, but are not limited to the following:
  • Providing information related to the Staff Retirement Plan (the Plan) through in
  • person contacts, correspondence and telephone conversations with active staff members, retirees and other beneficiaries; Highlighting and resolving issues
  • Ability to handle calls, provide information to the staffs/retirees. Schedule pension counselling to staffs
  • Reviewing and drafting communication materials to participants on Pension Plan provisions.
  • Ability to prepare documents, transaction flows, procedures.
  • Presenting the intricacies of the pension plan to an audience of international staff;
  • Processing and calculating pension benefit payments made under the Plan at the request of active participants and prepare certifications as requested by participants;
  • Computing and analyzing data related to pension benefits processing.
  • Performing reconciliations and understanding controls
  • Reviewing and monitoring financial transactions to meet Pension A

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