IFC - International Finance Corporation
IFC Chennai, India
Senior Finance Assistant
Job #: req19154
Sector: Financial Management
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
Required Language(s): English
Preferred Language(s): Closing Date: 10/4/2022 (MM/DD/YYYY) at 11:59pm UTC
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 2022, IFC committed a record $32.8 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 (link)
The IFC Controllers Department is responsible for effectively and efficiently managing IFC’s Financial Operations (loan, equity and short-term finance operations, and back-office treasury support operations), Financial Reporting (including reporting and analysis, portfolio review, investment accounting and accounting policy), Internal Controls, and Financial Integration, Systems and Projects. The Department comprises approximately 130 diverse and highly skilled staff, based in Washington DC, and Chennai.
The Financial Integration, Systems and Projects (CNTFS) unit within the Controllers Department focuses on the integration of relevant data from IFC’s key accounting and transaction systems into timely and accurate management reporting that support decision making in line with IFC’s strategic priorities. One of the primary responsibilities of the unit is the business ownership of IFC’s investment profitability system, FSRS (financial sustainability reporting system), a management reporting tool with close to 300 users within IFC, which brings together and disaggregates financial data from IFC Controllers systems to provide investment P&L statements down to investment project-level. In addition to maintaining FSRS and providing investment portfolio analytics for portfolio reviews, KPI scorecards and other corporate reports, the team is involved in a host of different Corporate and / or Controllers projects and initiatives that seek to enhance IFC’s ability to capture relevant information and integrate data from different streams into transaction, accounting, and operations systems and ultimately to management reporting. Such initiatives include ASU (accounting standard updates), the LIBOR Transition project, the CECL project, the Loan System Replacement project, and the streamlining and enhancing of existing systems such as Loss Reserves (IPAR), Controllers data in Operation Data Warehouse (ODS) and FSRS, where CNTFS is involved in all aspects of project management, from business requirement coordination and gathering, through close collaboration with IT teams and consultants through all steps of the projects including testing and implementation.
CNTFS has co-located some aspects of its work program to IFC’s Chennai Office (CNTCO), who have recruited staff in the IFC Financial Integration, Projects & Systems (CNTFI) to deliver their work program. IFC Controllers Department is seeking a Senior Finance Assistant in the CNTFI unit in Chennai to help support across all functions described above, including the preparation of management reporting analytics, the alignment of accounting results with financial/management reporting, creation of efficiencies through automation and streamlining of deliverables, and assure IT system development projects are under budget and comply with business requirements and needed governance framework(s). This position will report to the Team Lead of CNTFI unit in Chennai.
The successful candidate is expected to have exposure to accounting developments and be proactive in responding to the rapidly changing accounting and business environment. The selected candidate will be required to work across team functions and become a fully functional team member within a short time-frame. He /She should be able to establish productive relationships with staff at all levels within the team and across various units of IFC.
Duties & Responsibilities:
The Senior Finance Assistant will work as part of a team of professionals in CNTFI team which requires frequent interaction with internal counterparts in Controllers departments and external clients in Risk, Portfolio, Treasury, Investment, and IT department. Her/his tasks and responsibilities will include, but are not limited to:
- Assist in the preparation and analysis of investment profitability information for IFC’s monthly/quarterly operational, financial and management reports to the Board, IFC & WBG senior management, including reports on department-/ sector- and region-wise profit & loss reports, profitability KPIs etc.
- Provide support in the development, streamlining, automation and coordination of IFC’s operational, financial and management reports.
- Provide support in providing quality assurance for IFC’s operational, financial and management reports by verifying data to various source systems, reconciliation and ensuring data consistency across operational, financial and management reports.
- Assist in preparation of adhoc database analysis with database management and reporting/visualization tool like Tableau/Business Objects.
- Provide support in the implementation of new features or enhancements to various operational and finance systems of IFC; Participation in project team meetings and preparation of business requirement documents, test scenarios etc.
- Performing testing at various stages of systems development including user acceptance testing, integration testing etc.
- Documentation and maintenance of process flow charts with business process management tool or, procedure manuals etc.
- Provide support for user training needs in developing training materials and handling user queries post implementation where applicable.
- Support efforts in preparation of adhoc reports for management.
- Regularly share key information on processes, timelines, status, responsibilities, expectations and potential problems with supervisors and team members and seek their input.
- Assist the team in ad hoc projects and special assignments as needed.
- Communicate effectively with colleagues both in Chennai and Washington, D.C (HQ) on the status of all assigned activities.
- Bachelor’s or Master’s degree in business, finance, accounting, systems, or related field.
- Accounting Certification such as CA/CPA/ACCA strongly preferred.
- Minimum of 1-2 years’ experience in similar or complementary roles.
- Knowledge and experience in accounting and financial and/or management reporting, with exposure to GAAP/IFRS and its effect on financial metrics / ratios.
- Understanding of IFC operations, including business lines and financial products would be preferred.
- Ability to work seamlessly with teams in different time-zones.
- Proficiency in performing reconciliations and analysis and in working with large data volumes and diligent in documenting workflows.
- Ability to understand accounting information flows across multiple systems (Corporate centralized database, accounting subsystems and general ledger, MIS etc.) with knowledge of IFC/World Bank Group accounting systems would be preferred.
- Competent in office technology tools with advanced Excel and Excel VBA skills.
- Strong teamwork orientation, good interpersonal skills, and a proven ability to work effectively with a range of clients and colleagues.
- Excellent writing and editing skills in English, with an ability to convey complex ideas clearly and succinctly
WBG Core Competencies
- Deliver Results for Clients – Achieves results and identifies mission-driven solutions.
- Collaborate Within Teams and Across Boundaries – Initiates collaboration across boundaries and broadly across WBG, bringing differing ideas into the forefront.
- Lead and Innovate – Develops innovative solutions with others.
- Create, Apply and Share Knowledge – Creates, applies, and shares knowledge from across WBG to strengthen internal and/or external client solutions.
- Make Smart Decisions – Recommends and takes decisive action.
Controllers Department Competencies
- Client Understanding and Advising: Advises the clients and helps them think proactively about how to best meet their current and future needs, taking into considerations the real underlying issues. Works across CNT and with other VPUs to define client needs and develop the right solutions to meet those needs. PLUS: Provides recommendations to multiple VPUs that can add value to customers beyond normal offerings.
- Broad Business Thinking: Maintains an in-depth understanding of key business issues. Sets clear explanations for the integration and alignment of CNT solutions with business functions. PLUS: consider WBG wide implications in decision making to ensure consistency across WBG. Sponsors long-term VPU-wide initiatives.
- Information Technology and Systems: Demonstrates understanding of the functions and operations of pertinent IT systems and applications. Provides inputs to IT system enhancement efforts based on day to day working experience and knowledge of the systems.
- Analytical Thinking: Coordinates the information gathering and reporting process. Reviews trends and compares to expectations. Conducts analysis to define problems and prepares responses to anticipated questions.
- Policies and Procedures: Demonstrates thorough knowledge of policies and procedures in related fields.
- Risks and Controls: Leads by example and serves as best practice champions in completing internal control procedures, including understanding impact beyond own immediate functional areas.
- Communication: Adapts the communication style appropriate for the intended audience. Adopts an inclusive approach to communication as is appropriate to the situation, so as to ensure adequate stakeholder participation. Presents information effectively and encourage feedback.
- Project Management: Understands and utilizes the concepts of project management, as they relate to implementation of a project.
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.