Financial Analyst

Financial Analyst
Job #: req30576 Organization: World Bank Sector: Treasury Grade: GE Term Duration: 1 year 0 months Recruitment Type: Local Recruitment Location: Chennai,India Required Language(s): English Preferred Language(s): Closing Date: 12/6/2024 (MM/DD/YYYY) at 11:59pm UTC

Description

*This is a 1 Year DAIS position*

The World Bank (WB) is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions (IBRD, IDA, IFC, MIGA, and ICSID) dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development on a livable planet. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org.
The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group's funded benefit plans. Financial management includes asset management responsibilities and actuarial support. PEN manages about $40 billion US dollars invested across a range of asset classes, including fixed income, public equities, private equity, real assets, absolute return, and credit strategies. The Pension Finance Committee, appointed by the Bank Group President and chaired by the Chief Financial Officer, has oversight responsibility for the financial management of the plans. PEN’s responsibilities also include the delivery of technical assistance on multi- asset class investment management to pension plans, endowments and funds for the future, and the management of the Pension Administration function. PEN identifies, selects, evaluates, and monitors investments, through outside managers, globally.
The Pension Middle Office team (PENMO) under PEN is responsible for providing a full range of functions supporting these investment activities, including the following: i) pension plan operational activities, ii) pension plans financial statements, iii) pension investment performance and attribution, iv) asset class exposure monitoring, v) investment asset pricing and valuation, and vi) third-party clients’ reporting.The World Bank Group is committed to achieving diversity in terms of race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.
Duties and Accountabilities:
The primary responsibilities will be in the domain of financial reporting and investment operations that will include, but is not limited to, some combination of the following activities:
• Prepare financial reporting deliverables for IBRD’s quarterly and annual reporting as per applicable US GAAP pronouncements.• Assist in ensuring delivery of a smooth year-end reporting from Chennai, including preparation and review of working papers, footnotes, and financial statements as per applicable IFRS and US GAAP pronouncements.• Assist headquarters team in coordinating the year-end audit of the pension plans and preparing plan’s financial statements, especially regarding the drafting of footnotes with working papers.• Track and interpret various accounting standards and assess their applicability to the function at hand, including implementation of the applicable standards.• Handle regular and ad-hoc operational tasks and/or escalate daily operational issues with custodians, as well as internal stakeholders.• Handle requests to open new accounts with the custodian and set up new wire instructions of external parties in the wire system.• Be responsible for resolving and/or escalating daily operational issues with custodians, internal stakeholders and external parties including agents.• Actively reach out to headquarters team, lawyers, front office and/or investment managers and tax agents to track the deductions and initiate tax reclaims.• Track compliance reporting obligations of managers of public and private investments are for the Plans and submit reports within agreed upon deadlines.• Ensure that all business processes in the unit are properly documented and complied with.• Assist PENMO staff with ad-hoc tasks to ensure prompt delivery of daily, monthly, quarterly, and year-end deliverables and reporting requirements. • Support automation initiatives and IT projects relating to operational areas including systems implementation, maintenance of databases, dashboards, and reports.• Support and attend various tasks within a multi-asset class management business in treasury operations, accounting, management reporting, valuation control, and performance analytics, as may be assigned sometimes.
Selection Criteria

• A professional accounting designation such as CA, CPA or ACCA is required. Any master’s degree in finance, accounting, or Business (MBA) or having a CFA charter will be an added advantage.• At least 2 to 3 years of relevant work experience required in accounting and/or preparing financial statements. Experience in working on the preparation of or audit of financial statements related to fund investments will be a plus.• Strong quantitative skills demonstrated by analysis of fund reports and statements to reflect explanation of exceptions and outliers, with excellent spreadsheet skills would be required. Candidates with knowledge of Prompt engineering, Power Query, DAX, excel macro writing ability and/or Python would have an advantage.• Demonstrated ability to learn new technologies quickly and effectively for maximum productivity. • Ability to deal with various third parties such as custodians, fund administrators, investment managers, general partners, etc. to obtain information.• Excellent communication and presentation skills - both verbal and written.• High-level of initiative, self-confidence, and a self-starter; ability to apply a practical matured approach to problem solving with minimum supervision.• Commitment to work in a respectful, team-oriented, and multi-cultural environment. • Flexibility to overlap with U.S. hours will be required to meet reporting deadlines. Willingness to travel to Washington DC for training and team projects, if required.• Highest ethical standards.
Competencies:
o Financial Market Literacy - Can understand financial market processes; reads and analyzes financial reports and data such as holdings, valuation, performance, compliance, account reconciliations, position, margin, and settlement and risk reports.o Process and Infrastructure Development - Makes recommendations to improve efficiency of the accounting, business risk or operations process. o Operational Risk and Control - Understands the basic concepts of risk management and internal control frameworks. o Investment Operations - Adept or expert in processing a suite of transactions such as FX or investment transactions, and/or managing bank accounts and reference data. o Client Orientation - Able to establish partnership based working relationships with internal/external clients. Demonstrates independence, initiative, and autonomy in addressing clients' needs. o Drive for Results - Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results and has the personal organization to do so. o Teamwork (Collaboration) and Inclusion - Collaborates with other team members and contributes productively to the team's work and output, demonstrating respect for different points of view. o Knowledge, Learning and Communication - Able to research and draft quality written materials or review adherence of written materials prepared by others to administrative requirements. Able to mentor and guide and organize learning activities within area of assigned responsibilities. o Business Judgment and Analytical Decision Making - Able to use analytical, problem-solving skills and resourcefulness to make informed and practical decisions to carry out own work. Able to advise on information usage and storage, and policies around assigned responsibilities.

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.

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