Financial Analyst

Financial Analyst

Job #:
req25117

Organization:
IFC

Sector:
Finance & Accounting

Grade:
GE

Term Duration:
3 years 0 months

Recruitment Type:
Local Recruitment

Location:
Chennai,India

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 Integration, Systems, and Projects. The Department comprises approximately 140 diverse and highly skilled staff, based in Washington DC, and Chennai.

The Financial Operations unit (CNTFO) within the IFC Controllers Department has 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, and has several units that deliver this work, namely Loan Operations Team (CNTLO), Equity and Custody Operations Team (CNTEC) and Quality Assurance Team (CNTQA).

CNTFO provides financial operations support and services to the IFC Investment Departments, counterparts, internal and external financial and investment reporting units, syndication and treasury units, and portfolio management units, in the administration and management of all IFC Loan, Guarantee, Equity, and Development-Partner-Trust Funds financial operations. CNTLO administers and manages all IFC loan financial operations which include processing and monitoring transactions such as straight senior loans, syndications, bonds, guarantees risk participation, and donor-funded investments. CNTEC provides customer services to the investment departments and external clients through the servicing and accounting of IFCs equity investments. CNTQA is responsible for quality control over the recording of loan and equity transactions, through data mining and analysis, review of metrics and controls, and coordination across units to address data quality and control gaps.
The units ensure that loan and guarantee agreements, equity investments, and Development-Partners-trust-fund investments are recorded accurately and timely in the Corporations systems of record and general ledger. The units play a key role in the decision-making for, and implementation of, IT systems and upgrades, as well as in the implementation of new initiatives and financial products to ensure that data is recorded accurately and timely.

CNTFO has co-located some aspects of its work program to IFCs Chennai Office (CNTCO), which has recruited staff in the IFC Financial Operations Support team (CNTFC) to deliver this work program. The team provides support and interacts with IFC colleagues in Washington on a daytoday basis. The Financial Analyst shall interact extensively with internal partners, such as Loan Operations counterparts, Trust Funds Middle Office, IT teams, the Treasury Support unit, and the IFC Financial Reporting team. The Financial Analyst will report to the Team Lead of the CNTFC Loan & Equity unit in Chennai. The individual must be a self-starter in identifying and undertaking projects or initiatives.

Roles and Responsibilities

The Financial Analyst is a key member of the team, providing operational and administrative support for the CNTFC team in the context of Donor Trust Funds Investments (DTFI). This role requires frequent interaction with internal counterparts in CNT, Treasury, Investment operations team, Blended Finance, Budget team, Syndications team, Internal Controls, and external auditors.

Participate in the execution of end-to-end servicing of Third-Party Funds (TPF) processes and ensure effective communication and coordination with all the related parties
Review Third Party Funds (TPF) project agreements to ensure accurate booking of product-project commitments in IFC systems
Review Donor Trust Fund Investment (DTFI) Admin agreements and ensure accuracy in Master Data set-up execution in IFC systems
Manage GL Accounts configuration and Event set-up administration in the DTFI system
Process SWIFT disbursements for regular loans, other debt products, Short Term finance products, TPF guarantee claims, DTFI rebate payout, DTFI Equity
Manage DTFI servicing pertaining to Risk Sharing Facilities, Guarantees, and Equities project portfolio
Settle client payments associated with IFC and TPF loans, guarantees, short-term finance, risk-sharing facilities, blended finance facilities, and other debt instruments in IFC systems
Process SWIFT/wire transfer for periodic reflows of loan principal and income to the IFCs TPF participants
Ensure accurate and timely posting of transactions in IFC systems for Loans, Guarantees, and Donor fund activities.
Monitor daily donor bank account movements and ensure accurate, timely transaction processing, reconciliation, and month-end closing in IFC Treasury system for DTFI funds
Execute the monitoring, reconciliation, compliance, and periodic reporting of DTFI Donors, Risk sharing facilities, MCPP, and Blended finance facilities
Assist in the preparation of Year-end Financial statements, Annual reports, GL analysis, and closing for DTFIs in IFC systems by providing necessary documentation and support
Support a wide range of new product initiatives by assessing and advising on the impact of such initiatives on processes in close coordination with the CNTLO/EC Quality Assurance team, IT support team, and Investment operations team
Reconcile and articulate accounting issues related to transaction postings in IFC systems, SAP, and ODS
Support the departments various existing and future business automation, transformations, and big-ticket institutional projects like loan system replacement, Quantum Upgrade, Investran Upgrade, Core operations system replacement, Swift Upgrade in close coordination with HQ counterparts, different stakeholders, and the IT support teams
Participate in the development, testing, and implementation of new and enhanced processes to accommodate the transition of the IFC Loan portfolio from LIBOR to SOFR
Provide guidance to internal and external clients regarding transaction processes, procedures, and IFCs corporate policies under all aspects of Loans, Guarantees, Third Party Funds (TPF), Donor Trust Funds Investments (DTFI) functions, and Risk Sharing Facilities
Provide backup support to the team during high-volume periods to ensure smooth operations delivery
Participate in the assessment, design, and implementation of a new internal controls framework for IFC investment trust funds

Selection Criteria

Masters Degree preferably with a major in business administration, accounting, finance, or international trade finance
Accounting Certification, such as CA or CPA would be a plus
Minimum 3 years experience in related fields with a public/private financial institution
Knowledge of IFC systems, procedures, and policies shall be advantageous. (IFC uses SAP, ACBS, Investran, Quantum, and iPortal systems)
Ability to contribute to team performance with strong interpersonal and communication skills with attention to detail
Dedicated teammate with excellent organization skills and ability to interact tactfully and professionally with clients and staff at all levels
Ability to deliver quality results under pressure, and with limited direct supervision
Excellent problem-solving and analytical skills
Solid skills and knowledge of the latest information office technology, and relevant business tools. Highest ethical and business conduct standards
Fluency in written and spoken English required. Fluency in another WBG working language is a plus

WBG Core Competencies

Deliver Results for Clients – Achieves results and identifies mission-driven solutions
Collaborate Within Teams and Across Boundaries – Initiates collaboration across boundaries and broadly across WBG, bringing differing ideas to the forefront
Lead and Innovate – Develop 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

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 consideration 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 them 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 encourages 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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