Job: Financial Analyst

Location: Chennai, India
Deadline: Wednesday, 14 August 2013 

Description

Background:

The Trust Funds Division (CTRTF) is one of the divisions that reports into the Director of Client Services, within the Controller's Vice Presidency. CTRTF is the focal point for collection and dissemination of trust fund financial information and for formulation and oversight of financial, accounting and administrative policies for trust funds. CTRTF maintains the trust fund master data and financial ledgers and produces contractually required financial reports for donors (e.g. externally audited financial statements for certain trust funds and programs) as well as internal financial reports (e.g. the trust funds aggregate financial report). CTRTF is responsible for establishing and communicating trust fund accounting policies and control requirements to decentralized transaction processing business units and trust funds managers. The division is also responsible for building and maintaining an effective liaison relationship with the various business units, trust fund users and managers, as well as certain donors who require trust fund financial information. This liaison includes providing guidance, advice and assistance on all trust fund accounting, financial reporting and relevant administration matters.

Selected aspects of the work program of the World Bank's Controller's Vice Presidency are handled through the Processing and Support Center (CTRCO), in Chennai, India. CTRCO houses several different business units, each of which is responsible for specific off-shored accounting processes and includes one unit dedicated to trust funds, namely CTRTN. Furthermore, CTRTN consists of three primary teams: (1) financial reporting team (2) financial control team, and (3) the trust fund accounting clearance team.

The Financial Analyst is a member of the Financial Reporting team in CTRTN and reports to the Financial Officer. The primary purpose of the job is to execute and manage financial accounting activities for assigned trust funds programs and reporting financial statements / information to the donors and program managers.

Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 4 year term appointment.

  Duties and Accountabilities:

Duties & Responsibilities

 Execute day-to-day accounting functions involving funds transfers, expense transfers, interim budget recovery, budget updations & cancellation of funds for assigned programs within the ambit of trust funds accounting / administration policies / procedures and agreed Service Level Agreement (SLA) parameters;

 As a Program Accountant, serve as a single point contact and collaborate with colleagues, clients and counterparts for troubleshooting/resolving accounting and reporting issues relating to the assigned Programs;

 Prepare audit packages including financial statements & back up papers for funds requiring audit;

 Allocate funds to Trust funds as per client's request based on requirement & availability.

 Validate interpretation of legal documents and bank's other internal documents & reference fields in SAP master data;

 Review monthly Administration fee charge & investment income allocation to trust funds and take steps to resolve inconsistencies;

 Monitor and resolve inconsistencies in master data /general ledger using exception reports;

 Initiate procedures to close a Trust Fund & return unutilized funds to the donor after the Trust Fund closing activities are completed;

 Reporting to program managers & donors on the Trust Funds / program's financial status & movement of funds;

 Liaise with Headquarters (HQ) counterparts to provide them the requisite papers / documents for timely completion of audit;

 Participate in special projects like data integrity, Enterprise Risk Management (ERM) testing and documentation, Business Continuity Plan (BCP) testing, system changes / enhancements testing, etc.;

 Provide inputs and actively participate to support management's initiatives to improve the process quality & process related controls;

 Provide a variety of metrics / charts to be included in overall departmental operations report to measure progress of operations at Chennai vis-a-vis agreed norms for management information and action;

 Coach and mentor junior team members.

  Selection Criteria:

Key Performance Attributes (Personal characteristics/selection criteria)

• A relevant Bachelor's degree (Finance, Accounting, Business Administration, Economics, Commerce);
• Minimum 3 years post qualification experience;
• Chartered Accountants or other equivalent professional qualifications would be preferred;
• Proven working experience on accounting and reporting processes using automated accounting systems preferably SAP ;
• Demonstrated good judgmental and analytical skills;
• Excellent problem solving skills ;
• Proficiency in Microsoft Office tools;
• Good interpersonal and communication skills (both written and oral);
• Strong client focus and excellent team player;
• Ability to deal sensitively in multi-cultural environments and build effective working relations with clients and colleagues;
• Ability to function effectively in multi-disciplinary teams within a matrix environment. 
  COMPETENCIES: Shown below are the broad competencies linked to this job.
   
  Project Management - Understands and utilizes the basic concepts of project management, as they relate to the implementation of a project. Uses project management standard tools, methodologies and processes. Is able to proactively identify and mitigate project risks as well as to manage project issues.
   
  Business Processes & Systems - Moderate understanding of business processes. Be able to analyze business processes and enhance internal controls in order to resolve issues, and improve operational efficiency and effectiveness.
   
  Accounting Policy - Ability to interpret basic accounting principles and other related auditing standards and translates those principles and standards into accounting and administrative policies and procedures for the organization.
   
  Transaction Processing - Recommends solutions to problems/issues encountered during transaction processing. Develops guidelines for transaction processing and establishes processes for recording new types of transactions. Effectively uses technology to enhance efficiency and productivity in the processing of transactions.
   
  Disbursement Policies & Procedures - Possesses a basic understanding of disbursement policies and procedures and ability to apply policies and procedures in a practical setting.
   
  Financial Products - Basic understanding of the range of available financial instruments (e.g., IBRD loans, IDA credits and grants, trust funds).
   
  Risk Management & Internal Controls - Applies basic understanding of the internal controls and risk management principles in carrying out day-to-day functions.
   
  Client Orientation - Proactively addresses client needs, takes personal responsibility and accountability for timely response to client queries, requests or needs. Anticipate client needs and responds based on clear understanding of needs and concerns.
   
  Drive for Results - Delivers results and impact for clients and stakeholders. Holds self accountable for achieving sustainable results, and makes things happen both as an individual and through others.
   
  Teamwork (Collaboration) and Inclusion - Collaborates and promotes inclusion within and across boundaries. Works effectively with individuals of different cultures and gender, and includes the perspectives and ideas of others.
   
  Knowledge, Learning and Communication - Demonstrates agility for learning and a commitment to enhance one's capacity. Routinely shares own knowledge with others. Listens objectively to others' ideas, and speaks and writes clearly, concisely and persuasively.
   
  Business Judgment and Analytical Decision Making - Analyzes available information and makes evidence based ethical decisions. Analyzes facts and data to support sound, logical decisions regarding own and others' work.

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