E T Temporary

**E T Temporary**

Job #:
req30803
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:
1/7/2025 (MM/DD/YYYY) at 11:59pm UTC

Description

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.

**Unit Overview**:
Within WFA, the Loan Accounting Division (WFALA) directly supports the quarterly and annual year end audits, day to day accounting, management reporting and the design and implementation of new products related to the IBRD & IDA loan portfolios.

The division is accountable for the accuracy and completeness of the day-to-day accounting and reporting of the IBRD and IDA loan portfolios. This involves overseeing processes which generate accounting at the transactional and portfolio level, overseeing quarterly and fiscal loan ledger closings, and directly supporting the IBRD/IDA external audits. The division is also a key upstream provider of loan portfolio data, analyses and reports to other downstream reporting and corporate finance units who consume this information in their quarterly/fiscal year end activities.

The division is also responsible for servicing IBRD and IDA borrowers' debt repayments, monitoring repayment status, management reporting, and engaging with Bank operational teams to facilitate timely repayments.

Our division is heavily involved in the full lifecycle of new loan product development across the Bank by supporting upstream design and feasibility, to downstream implementation and stabilization. The team plays a pivotal role related to most initiatives related to the loan and guarantees portfolios.

The division is also a main focal point for addressing and researching queries from Senior Management related to the IBRD and IDA loan portfolios.
The loan accounting division is heavily engaged in new product development at the Bank, participating in the end-to-end lifecycle from initial design and feasibility to implementation and stabilization phases - and often leads some phases within the lifecycle.

The team is spread across three locations: Washington, Chennai and Manila.

WFALA is currently seeking a Extended Term Temporary (ETT) who will be based in Chennai and report to the Senior Financial Officer in Chennai.

**How your contributions will help us achieve our goals**:
The Extended Term Temporary (ETT) will be responsible for accounting and reporting functions for loans business of the Bank. You will play a key role in carrying out the day-to-day activities and respond to queries/requests on loan information. You are expected to contribute to continuous improvement and process enhancement initiatives. You are also expected to work with the external auditors by providing supporting documentation and monitor exception reports and resolve inconsistencies, if any.

**What you will do**:
Ensure the accuracy, appropriateness, completeness and control of information for the Loan portfolio:

- Carry out day-to-day accounting and reporting functions involving Loan master data initiation and maintenance, loan life cycle accounting, management and financial reporting, stakeholder query handling, within the ambit of Loan accounting / policies / procedures and agreed Service Level Agreement (SLA) parameters
- Monitor and resolve inconsistencies in master data /general ledger using exception reports
- Perform periodic reviews of the financial results of the loan portfolio to identify trends and significant changes to assess the reasonableness of account balances leading to a sign off on the data/information
- Provide information in the form of metrics / charts on certain financial accounting activities to be included in overall departmental operations report

Client & Stakeholder support for IBRD/IDA Loan portfolio:

- Assist external auditors by providing the required supporting documentation in support of financial statements, in coordination with various Country Offices, within the agreed service level agreement (SLA) parameters
- Respond to questions/requests on loan information from period activity or financial reporting requirements

Process improvements & automation projects:

- Contribute to the continuous improvements and process enhancement initiatives surrounding Loan processes