The World Bank

World Bank in Chennai, India

Accounting Analyst

Job #: req18544

Organization: World Bank

Sector: Finance & Accounting

Grade: GE

Term Duration: 4 years 0 months

Recruitment Type: Local Recruitment

Location: Chennai,India

Required Language(s): English

Preferred Language(s): Closing Date: 8/9/2022 (MM/DD/YYYY) at 11:59pm UTC

Description

The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development. 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. For more information, visit (link)

The World Bank Group Finance & Accounting (WFA) Vice Presidency is responsible for all aspects of the financial reporting and internal control framework for International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), and the extensive Trust Fund/Partnership portfolio of these entities. WFA also leads the client service function for the WBG corporate expenses and WBG trust funds, ensures fiduciary responsibility for all disbursements related to Bank operations.

Organizationally, WFA comprises three functional departments: (1) WBG Corporate Accounting and Reporting (WFACA), (2) WFA Trust Funds and Loans (WFATL), and (3) WFA Financial Controls (WFAFC). These units, along with WFA Chennai and WFA Systems and Transformation divisions, report directly to the WBG Controller who heads the WFA Vice Presidency.

WFAPA Team Overview: WFA’s Accounts Receivable, Payroll and Tax (WFAPT in HQ and WFAPA in Chennai) Team is part of the Financial Controls Department, that is responsible for ensuring that (i) accounts receivable are recorded, monitored, and collected in a timely and efficient manner, (ii) salary and benefit payments to the WBG staff are processed in a timely and efficient manner, and (iii) tax allowances to the WBG staff and retirees are processed in a timely and efficient manner. It also provides strategic leadership and guidance to business units across the WBG on developing and maintaining an effective system of internal controls over AR, payroll, and tax.

Job Purpose: Accounting analyst will participate in multiple areas of responsibilities which include managing External Receivables (ERS), Staff Receivables (SRS) and Trial Balance Reporting to enable the smooth workflow of processes in close coordination with the HQ team. Also, assist the team to complete the defined tasks within the prescribed time frame and procedures and coordinate with HR/ BPS/Country Offices/Information and Technology Solutions Group (ITS) based on the process requirements.

Specific Key Accountabilities:

  • Manage staff receivables and loans disbursed to all World Bank group staff members at Headquarters and Country Offices.
  • Provide technical guidance to accounting issues that relate to the PeopleSoft Staff Receivables System (PS-SRS), staff loan disbursements and prepayments transactions.
  • Assist and coordinate with ITS in researching, analyzing, and resolving accounting issues in various applications such as PS-SRS and SAP
  • Generate, collate, compile, and submit reports related to staff loan and receivable accounts as may be required / requested from time to time.
  • Ensure timely release of transactions to the Payroll system and SRS accounting; Review the key SRS and Payroll reports and take appropriate action before payroll close; Work closely with Payroll, HR, and Country Office staff to resolve collection issues.
  • Ensure the correctness of accounting for External and Inter-Company Receivables and follow up with clients for collection.
  • Review open items in suspense accounts and aging schedules for both staff and external receivables and ensure that amounts due to the Bank are collected promptly. Analyze monthly external revenues and respond to the pertinent queries.
  • Review monthly Trial Balance for Accounts Receivable and ensure timely submission.
  • Review monthly Admin Trial Balance for Accounts Receivable team and ensure timely submission.
  • Review the various reports associated with the monthly Trial Balance reporting.
  • Identify and provide inputs to process improvement initiatives.
  • Review invoices for IMF Paris rent, and IFC Payroll before sending it to the clients.
  • Review the various revenue postings and ensure those are as per the contract agreements and established policies and procedures.
  • Monitor and record the revenue accruals in SAP on a periodical basis.
  • Review accrual and deferral requests during the year-end and coordinating with WFACR and various units for posting the entries.
  • Create process documentation and update desktop procedures in Accounts Receivable team.
  • Respond to tier-2 client inquiries effectively and resolve problems or provide alternative solutions.

  • Collaborate with colleagues, clients, and counterparts to resolve day to day accounting and reporting issues.
  • Act as a mentor to all accounting assistants and help them to understand the various processes that are performed in PS-SRS and SAP.
  • Assist in handling special projects as and when required.

Selection Criteria

  • CA/CPA (or equivalent professional accounting qualification) with a minimum of three years of relevant experience, preferably with a multinational organization.
  • Proficiency in SAP and Microsoft Office tools.
  • Demonstrated good judgement skills and analytical skills.
  • A proven track record of problem-solving skills in an automated accounting environment.
  • Experience in PeopleSoft systems will be an added advantage.
  • Good interpersonal and communication skills (both written and oral)
  • Ability to deal sensitively in multi-cultural environments and build effective working relations with clients and colleagues.
  • Exhibit a personality that enables the incumbent to be client focused, flexible and an excellent team player. Ability to effectively work with other staff in the department and elsewhere in the Bank.

Competencies: WFA Functional Competencies

  • Client Understanding and Advising – Applied-Solid understanding and consistent ability to apply the competency in most situations. Looks at issues from the client’s perspective and takes action beyond normal expectations to ensure client satisfaction. Analyses situations and determines alternative or creative scenarios and approaches to add value to the business in new and different ways. Works within the team and with other specialty areas to define client needs and develop the best approach to meet client needs. Sees how ideas and best practices from other specialties can be adapted or applied to address client issues.
  • Broad Business Thinking – Maintains an in-depth understanding of the long-term implications of decisions both for the team and client’s business. Ensures that decisions are supported by relevant stakeholders as well as sound performance data. Effectively communicates recommended changes to clients and how they will affect their business while attempting to minimize day-to-day disruption of operations.
  • Project Management – Develops and implements realistic and achievable work plans for group or project team – including tasks, priorities, resources, and schedules. Establishes priorities, identifies critical tasks, and pushes projects forward in a timely fashion. Establishes controls to detect problems early and notify those involved if deadlines are affected. Creates opportunities and solutions that address more difficult or abstract situations. Creates and adapts solutions to address unusual data or novel situations.
  • Analytical Thinking – Coordinates the information gathering and reporting process. Reviews trends and compares to expectations. Conducts research to define problems and prepares responses to anticipated questions. Prioritizes multiple issues and opportunities. Identifies relationships and linkages within several information sources. Anticipates issues that are not readily apparent on the surface. Identifies root causes and effects. Reports and identifies areas that need guidance in order to resolve complex issues. Anticipates the possible outcome of potential solutions.
  • Policies and Procedures – Seek out opportunities to further understanding of relevant policies and guidance. Identify areas for improvements in existing policies and procedures. Emulate best practices in completing own work program. Provides guidance to junior staff and plays a role in transferring skills and knowledge to others.
  • Risks and Controls – Demonstrate understanding of key risks and internal control procedures in the related processes. Able to identify key risks and mitigating control steps in own functional areas. Perform internal control procedures in compliance with the overall risk and control framework. Takes proactive measures to know the internal control procedures (e.g., talks with business leaders about their goals and priorities).
  • Information Technology and Systems – Leverage information technology systems and applications to improve productivity and efficiency. Provide inputs to IT system enhancement efforts based on day-to-day working experience and knowledge of the systems.
  • Communication – Utilize appropriate tools and techniques to explain technical information in plain language. Present information in a logical and organized manner both in speech and in writing. Writes effective correspondence, prepares questions and reports, statements of circumstance and briefing notes.

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.

Tags: accounting and reporting, extreme poverty, financial reporting, information technology, parental leave, payroll, peoplesoft, project management, reconstruction, sustainable development, trust funds