Financial Operations Officer

Job #: req16431
Organization: IFC
Sector: Finance & Accounting
Grade: GF
Term Duration: 3 years 0 months
Recruitment Type: International Recruitment
Location: Washington, DC,United States
Required Language(s): English
Preferred Language(s):
Closing Date: 3/26/2022 (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 www.ifc.org.

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 portfolio review, investment accounting and accounting policy), Internal Controls, and Financial Systems, Integration and Projects. The Department comprises approximately 125 diverse and highly skilled staff, based in Washington DC, and Chennai.

The Financial Operations units (“CNTFO”) within the Controllers Department have overall responsibility for recording, servicing, and providing post-commitment support for the private sector loan, guarantee, short term finance products and programs, and the equity investments of the International Finance Corporation.

CNTFO provides financial operations support and services to the IFC Investment Departments, counterparts, internal and external financial and investment reporting units, syndication and treasury units, and portfolio management units, in the administration and management of all IFC Loan, Guarantee, Equity, and Development-Partner-Trust Funds financial operations. The units ensure that loan and guarantee agreements, equity investments, and Development-Partners-trust-fund investments are recorded accurately and timely in the Corporation’s systems of record and general ledger.

The CNTFO units play a key role in the decision-making for, and implementation of IT systems and upgrades, as well as in the implementation of new initiatives and financial products to ensure that data is recorded accurately and timely.

The Loan and Equity Operations for Blended Finance:

To carry out its mandate, the Loan Operations team (CNTLO) within CNTFO is currently seeking a proactive, highly motivated Financial Operations Officer to provide focused support to the rapidly expanding Blended Finance operations of the team. The Financial Operations Officer will collaborate closely with colleagues in IFC Blended Finance; IFC Information and Technology Solutions (ITS); IFC Corporate Budget (CBA); IFC Controllers at its HQ and Chennai (India) office; and other units to ensure Donor needs are met, new initiatives are implemented, and that Controls work effectively. The Financial Operations Officer will be based in Washington, DC, and will work closely with one of the CNTLO Team Leads to fulfill the team’s responsibilities outlined below:

Duties & Responsibilities:

The Financial Operations Officer’s primary responsibilities will include, but are not limited to, the following duties and responsibilities:

• Support the Team Lead to provide strategic support for the IFC’s Blended Finance portfolio. He or she will also be required to work with senior level blended finance, investment, treasury, credit, risk management, technology and administrative leaders and their staffs to ensure the successful delivery of the work program.
• Represent CNTLO as the focal point for task teams when asked to consult on Blended Finance projects.
• Work closely with the Team Lead on Blended Finance portfolio program and project management, metrics and controls, data analysis, operational risk management, reporting, and technology development.
• Execute on day-to-day basis relevant HQ activities for the existing $4.5 billion Blended Finance portfolio, in close coordination with the offshore team located in Chennai, India.
• Provide thought leadership on Blended Finance transactions and Accounting implementation to ensure end-to end integration across systems and integrity of reporting.
• Partner with Blended Finance staff, IT, and Controllers to ensure the smooth running of existing Blended Finance projects and support the implementation of new programs.
• Work with IT, Blended Finance, and Controllers to ensure new Blended Finance initiatives are translated into new processes and/or IT system requirements. This includes deep-diving into new program proposals, documenting approaches and processes, drafting Business Requirements Documents, test plan and end-to-end testing of systems.
• Lead efforts to continually improve processes and internal controls across the Blended Finance investments.

Selection Criteria

• Master’s degree(s) in Accounting, Finance or Business with at least 7 years of working experience with a leading international bank or financial institution.
• Relevant professional certification such as CFA/CPA/CA/ACCA/CFA is advantageous.
• Excellent knowledge and understanding of IFC’s blended-finance principles, products, systems and processes strongly preferred;
• Proficiency in relevant IFC IT systems (ACBS, Investran, Quantum, SAP, Swift) with an understanding of booking processes, accounting, and reporting, is advantageous.
• Ability to think through the operationalization of new initiatives, and the integration of practical solutions in systems;
• Understanding of US GAAP accounting strongly preferred. Understanding of IFRS/IPSAS, a plus;
• Proven project management skills and aptitude for coordination required;
• Proven ability to conceptualize, design and implement innovative solutions and challenge the status quo to support change;
• Demonstrated high level of initiative, self-confidence and a self-starter;
• Strong interpersonal skills;
• Commitment to work in a team-oriented, multi-cultural environment;
• Proven capacity to multi-task, deliver results and respond quickly and effectively to requests. Ability and desire to meet tight deadlines;
• Ability to assist or lead the development of IT projects, identify opportunities for automation and propose the right and sustainable solutions to improve operational efficiency;
• Demonstrated track record in managing complexity, identifying interdependencies, and taking a corporate view;
• Excellent oral and written communication skills in English. Ability to convey complex issues concisely to Management;
• Highest ethical standards.

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 the 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.