IFC - International Finance Corporation

IFC New Delhi

Finance Officer

Job #: req18534

Organization: IFC

Sector: Budget

Grade: GF

Term Duration: 3 years 0 months

Recruitment Type: Local Recruitment

Location: New Delhi,India

Required Language(s): English

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

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 2021, IFC committed a record $31.5 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 the COVID-19 pandemic. For more information, visit (link)

The Vice Presidency for Corporate Support (COSVP) integrates Budget and Business Administration, HR, Communication, Partnerships, and Information & Technology functions under one umbrella to enable execution of IFC’s management and operational needs in the best way. Within COSVP, Budget and Business Administration department (CBA) plays a pivotal role in allocating IFC scarce resources and aligning them to IFC 3.0 by leveraging budget as a management tool to mainstream the corporate strategy, creating profitability and efficiency metrics, improving the scorecard, and overseeing procurement and facilities administration.

CBAAP unit within the CBA department supports Asia Pacific Operations and is seeking a Finance Officer based in New Delhi, India. The role is expected to lead and support client department financial management related activities including budget and analytics, reporting, Trust Fund Management, Controls and Team management and reports to the Regional Finance Controller, CBASA.

Roles & Responsibilities:

Budget and Resource Management:

  • Lead departmental budget formulation, execution, monitoring, analysis and reporting activities.
  • Advise on resource allocation and reallocation. Lead forecasts on expenditures (including depreciation forecasting and monitoring) and staffing level reporting.
  • Ensure strong collaboration with the HR Business Partner in order to manage the staff affordability for the unit (including managing the technical aspects in the system)
  • Collaborate with the Partnership team on Donor funding availability and utilization for projects and programs as per Governance.
  • Monitor the implementation of Department’s work program and budget through regular reviews, ensuring the integrity and quality of the unit’s budget data.
  • Identify trends and variations, identify/resolve issues, and discuss them with supervisor/Manager, working groups and other relevant staff.
  • Knowledge sharing of new WBG/IFC resource management & accounting and administrative policies and procedures, ensuring these are communicated and followed by staff.
  • Actively participate in Global/Regional/Functional adhoc working group and disseminate learnings to other colleagues

Reporting, Communications and Liaison:

  • Produce detailed and summary reports for Department’s management on all funding sources.
  • Manager Donor reporting as per the agreement and in close coordination with the Portfolio team and Partnership teams.
  • Provide reliable and comprehensible information and analysis.
  • Coordinate and lead preparation of monthly and quarterly departmental financial and operational reports.
  • Work closely with CBARE on office ecology and other footprint analytics.
  • Promote active sharing of knowledge and establish a strong knowledge network within and outside CBA

Financial Control and Fiduciary Responsibilities:

  • Oversight and supervise all finance and accounting activity within the designated Country Office/s.
  • Support internal control framework of the department’s financial transactions, including review of effectiveness of the internal control systems and monitoring.
  • Ensure correct Time Recording codes for staff in the Unit, ensure correct staff costs accounting.
  • Perform regular analyses on all exception reports and identify problem transactions/irregularities and resolve problems in a timely and effective manner.
  • Within the SAP framework, take initiative to improve process and approaches, demonstrating adaptability to changing priorities and demonstrating innovative technical leadership.

  • Ensure strong control environment and Strong scorecard ratings.
  • Assist and provide business intelligence and, if required, supporting documents and reconciliations during preparation to internal and external audits and coordinate their smooth implementations.
  • Ensures compliance with World Bank group policies and procedures within the Unit.

Team Management

  • Lead and Manage India and Sri Lanka teams on their day to day business as well as long term career growth under guidance of Regional Finance Controller and Manager.
  • Mentor and build capacity within the team meeting the needs of individual staff.
  • Ensure effective back-up arrangements, ensure timely completion of tasks and submission of outputs.
  • Promote sharing of knowledge, sharing of information within the team to scale best practice

Selection Criteria

  • Relevant Masters degree (Finance, Accounting, Business Management, Economics, Project Management) with 5 years of relevant professional experience, or equivalent combination of education and experience.
  • Sound knowledge and understanding of accounting theory, concepts and principles, combined with proven practical skills in financial and cost accounting reporting, business planning, work programming, budgeting, financial management and audit. Ability to understand different financial reports and ledgers.
  • Good understanding of critical linkages and relationships between budget processes, business operations and objectives and good conceptual, analytical and evaluative skills.
  • Strong problem solving, conceptual, and analytical skills.
  • Ability to research, analyze, and synthesize information, interpret data, retrieve information from SAP or other databases and clearly and concisely prepare results.
  • Exceptional spreadsheet design and manipulation skills, ability to quickly develop effective understandings of logical accounting data structures and data inter-relationships to effectively evaluate and make recommendations on process/system controls; proficiency in using Microsoft
  • Word and Power Point presentation software.
  • Proven, consistent dedication to excellence and consummate attention to detail.
  • Proven experience in the development and implementation of new technologies related to resource management and budget/operations monitoring. Interest in or enthusiasm around working with technology rollouts.
  • Strong communication skills (in English), both written and oral, to convey complex budget and administrative financial issues concisely to management and staff
  • Ability to work independently and as part of a team; organize and prioritize work to meet deadlines
  • Ability to effectively transfer knowledge and stimulate continuous learning.
  • Ability to lead smaller teams and supervise staff, driving for greater results either on a project basis or as part of the regular organizational structure.
  • Ability to work under pressure; flexibility in handling several concurrent assignments, including project management skills.
  • Strong interpersonal skills and ability to work effectively with internal/external partners in a multicultural environment. Ability to develop solid relationships with key stakeholders and build productive partnerships.

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: business management, cost accounting, covid, emerging markets, extreme poverty, finance officer, financial institutions, financial management, knowledge sharing, new technologies, organizational structure, parental leave, procurement, project management, reconciliation, sri lanka, technical aspects