Finance Officer

JOB DESCRIPTION

Description

IFC — a member of the World Bank Group — is 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 US$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 Budget and Business Administration Department (CBA) integrates financial sustainability, resource, and administration functions under one umbrella to enable the execution of management and operational needs in the best way. Aligning IFC's strategy and resource management capabilities and deliverables while supporting IFC's financial sustainability mandate is imperative for our strategic engagements and client delivery.
The Finance Unit for South Asia Region (CBASA) is responsible for work program planning, budgeting, monitoring, budget & financial reporting for all the offices in the South Asia Region (CSA). Overall, CBASA maintains cost efficiency and effective controls over all financial transactions and provides support for effective management of resources.

CBA is seeking a Finance Officer / Regional Finance Controller for South Asia (CSA). Reporting to the Chief Administrative Officer (CAO) Asia Pacific, the selected candidate will:

• Lead the Finance, Budget, and Accounting function in South Asia, supervising a network of 12 finance staff across India, Bangladesh, Sri Lanka, and Nepal

• Liaise with Procurement and Real Estate teams on matters pertaining to South Asia and support the business in an integrated manner.

• Partner with the South Asia unit (CSA) ie. management team, operational staff, and other internal clients in reaching its targets.

• Serve as a primary link between CBA, CSA, Human Resources, and World Bank Group Finance and Accounting (WFA) to ensure optimal management of CSA's financial resources.

The location of this position will be in the CSA regional office in New Delhi, India. Some travel within the region will be required.

Roles and Responsibilities

The Finance Officer South Asia will be responsible for:

Budget and Resource Management

• Lead and collaborate with the business at various levels (Regional Director/Country Managers/Department Managers etc.) for unit-level budget activities (annual planning, forecasting) and resource alignment to strategy and business priorities.

• Lead budget discussions and assessments with business units.

• Manage staff cost affordability for the unit in collaboration with the HR Business Partner.

• Partner with the Partnership team on Donor funding availability and utilization of Internal funds for projects and programs according to Governance.

• Monitor capital projects and manage their financial impact.

• Actively participate in Global/Regional/Functional ad-hoc working groups to tackle problems and share best practices.
Management Reporting and Analytics

• Contribute to executive decision-making with analytics, financial advice, and budget management to improve business performance.

• Independently supervise donors' reporting function within the regional department.

• Deliver value-added analytics and solutions to enable better decision-making for clients.

• Lead delivery of financial and operational reports on a monthly and quarterly basis.

• Collaborate with the Real Estate team on office ecology and footprint analytics.

• Establish a strong knowledge network and promote knowledge sharing within and outside CBA.

Financial Control and Compliance

• Supervise finance and accounting activity in Regional Country Offices.

• Support the department's internal control framework and monitor financial transactions

• Design, development, and implementation of control procedures to manage and mitigate fiduciary risk.

• Lead quality assurance reviews of reports, ensuring compliance with institutional requirements.

• Document processes, risks, and controls and assign internal accountabilities.

• Identify opportunities to automate and simplify processes and implement improvements for efficiency within the Policy framework.

• Maintain a strong control environment and scorecard ratings.

• Provide business intelligence and support during audits.

• Ensure compliance with World Bank Group policies and procedures in the Region.

Team Management

• Lead and coach the CBA South Asia team on their annual objectives, personal development goals and long-term career growth.

• Develop a structured approach for staff learning and development, aligned with competency framework and succession planning.

• Build capacity within the team and provide mentorship to meet individual needs.

• Leverage the expertise of all team members for successful outcomes. encourage open communication and collaboration and facilitate new ways of doing things.

• Promote the sharing of knowledge and information within the team to scale best practices.

Selection Criteria

• Master's degree (e.g., Finance, Accounting, Business, Economics, etc.) with substantial professional experience of 10+ years in positions of increasing complexity and responsibility.

• Recognized professional accounting accreditation (CPA, CMA, CIMA, ACCA, etc.) and sound knowledge of accounting theory and practical financial skills, including financial reporting, business planning, budgeting, profitability analysis, and financial management.

• A strong understanding of resource management processes, procedures, systems, and policies in IFC is desirable.

• Superior written and verbal English communication skills, along with excellent presentation abilities

• High degree of professional integrity, discretion, tact, and sensitivity, conveying complex messages concisely and diplomatically. Willing to risk expressing beliefs about what is right, despite criticism or disagreement.

• Excellent professional judgment, analytical, and conceptual skills, with the ability to identify issues, formulate options, and develop pragmatic solutions that persuade and influence management decisions for action and the capacity to respond quickly, selectively, and flexibly to a wide range of issues.

• Recognized team player who collaborates, works well with others and demonstrates effectiveness. Proven ability to build common goals while managing diverse views and the ability to hear others' ideas and make changes in plans or thinking as a result (as appropriate).

• Proven people management skills, with the ability to attract, lead, mentor, and develop talent in multiple countries and cultures.

• Sound organizational skills, ability to multitask, and attention to detail while maintaining an overview of unit priorities.

• Strong client and business orientation with consultative skills to understand, synthesize, and define business solutions, balancing client and corporate needs.

• Ability to develop innovative solutions and challenge the "status quo" to improve processes focused on end results.

• Ability to analyze and synthesize information, interpret data, retrieve information, and clearly and concisely communicate results.

• Strong understanding of internal controls and corporate procedures: Influences internal control policies, processes, and procedures to align with entity objectives, mitigate risk, and ensure compliance with laws and regulations. Leads team in improving control environment.

• Working knowledge of SAP processes and transactions.

• Good data mining skills with working knowledge of Microsoft Package. Advanced Excel skills.

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 the World Bank and IFC, including our values and inspiring stories.

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