Senior Financial Assistant

4 weeks ago

NewDelhi, India World Bank Group Full time


Job Description

Description

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Do you want to build a career that is truly worthwhile? Working at the World Bank provides a unique opportunity for you to join us to help our clients solve their greatest development challenges. The World Bank (WB) is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions (IBRD, IDA, IFC, MIGA, and ICSID) dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development on a livable planet. 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.

The WB Finance & Accounting (WFA) Vice Presidency is responsible for all aspects of the financial reporting and internal control framework for IBRD and IDA, and the extensive Trust Fund/Partnership portfolio of the WB entities. It supports an appropriate fiduciary control framework and administering disbursements for Bank lending and leads the client service function for the WB's corporate expenses.

Organizationally, WFA is comprised of three departments: (1) Corporate Accounting and Reporting, (2) Trust Funds and Loans, and (3) Financial Controls. In WFA, our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.

Within WFA, Corporate Reporting and Analysis department, the Structured Finance division provides product control functions for financial instruments, including bonds, derivatives, and investments, as utilized by IBRD, IDA, MIGA, and Trust Funds for their operations. 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, IPV for investments, financial instrument related data management, exercising internal controls to ensure accurate accounting ledgers and financial statements regarding these financial instruments. Responsible for operationalizing projects and initiatives that enable enhanced analysis and supporting institutional goals The current position is that of Senior Financial Assistant within the borrowings group in Chennai (WFASC), which is an extension of the WFASF team in HQ. The incumbent will be supervised by the Financial Officer in WFASC, Chennai.

The Senior Financial assistant works as part of a team of professionals to meet unit's responsibilities as they relate to the pricing / valuations and accounting of financial instruments and implementation of various institutional projects. You will collaborate with HQ team to jointly deliver high quality analysis and submission to financials to reporting team and other stake holders.

As a Senior Financial Assistant, you will report to the Senior Financial Officer.

What you will do:
Master data review: Review of the trade set up in bank's core systems as per the terms agreed with counterparty. This is critical to ensure accurate valuations and accounting of the portfolio; Production of valuation for borrowing portfolio: Produce valuations for the financial instruments' portfolios, utilizing platforms such as Numerix OneView, Murex, Summit, and internally built systems. Preparation and quality assurance of calculated market data, evaluation of data sources, and verification of the data reliability.Financial review and analysis: Compare and analyze bank valuations versus counterparty valuations and other sources. Develop expectations, perform analysis, prepare / review, and present sign-off commentaries. Prepare / present various financial and management reports, as required by the department or other stakeholders.Internal and external collaboration: Collaborate with business and information technology teams across locations to address system issues and implement solutions promptly. Proactively interact with World Bank Treasury (TRE) front office business units to stay abreast of new / proposed activities that may have valuation, accounting or reporting implications. Coordinate with / support external and internal auditors, when required.Work on new initiatives and look to improve the quality of deliverables: Continually look for opportunities to improve processes and internal controls. Be responsible for promoting controls and ensuring compliance in WFA. Staying abreast of accounting pronouncements and industry best practice as it relates to accounting / valuation of financial instruments. Work with team on UAT (user acceptance testing) for projects of interest of unit and support efforts to implement new business initiatives. Selection Criteria:

What you will bring:

Education:
Bachelor's in Mathematics, Engineering or relevant discipline. Master's is a plusProfessional accounting/finance qualification (CA, CPA, ACCA or equivalent accounting qualification, and/or CFA)Experience:
Minimum of 1 year of relevant work experiencePreferable: Experience with a financial institution or a Big 4 accounting firm experience would be advantageous.Knowledge and Skills:
Deep knowledge of treasury products / financial instruments (i.e. capital and money market instruments – particularly fixed income instruments) and their related accounting and valuation treatmentGood knowledge of financial models used for the valuation of fixed income instruments.Excellent verbal and written communication and presentation skillsHighest ethical standardsDiplomacy and strong interpersonal skills; commitment to work in a team-oriented, multi-cultural environment; detail orientedSource:

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