Job Description

Financial Analyst


Job #: req28267


Organization: World Bank


Sector: Finance & Accounting


Grade: GE


Term Duration: 4 years 0 months


Recruitment Type: Local Recruitment


Location: Chennai,India


Required Language(s): ENGLISH


Preferred Language(s): ENGLISH


Closing Date: 7/28/2024 (MM/DD/YYYY) at 11:59pm UTC



Description


Do you want to build a career that is truly worthwhile? The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty and promoting shared prosperity. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org.



The WB Finance & Accounting (WFA) Vice Presidency is responsible for all aspects of the financial reporting, internal control framework for IBRD and IDA, and the extensive Trust Fund/Partnership portfolio of the WB entities. It supports an appropriate fiduciary control framework and administering disbursements for Bank lending and leads the client service function for the WB's corporate expenses.



Organizationally, WFA is comprised of three departments: (1) Corporate Accounting and Reporting, (2) Trust Funds and Loans, and (3) Financial Controls. In WFA, our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.



Within WFA, the Structured Finance Division (WFASF) is responsible for product control functions for financial instruments including borrowings, derivatives, and investments for IBRD, IDA and Trust Funds except for pension funds. These include financial instrument product aligned accounting, determination of the lending rate of the Bank, producing valuation for the IBRD/IDA bonds, derivatives, and loans, set-up of financial models and valuation review, market data sourcing and verification, implementing accounting policies around financial instruments, independent price verification, financial instrument related data management and providing disclosure information for financial statements regarding these financial instruments.



The current position is that of Financial Analyst in the borrowing group in Chennai (WFASC), which is an extension of the WFASF team in HQ.



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.



Terms of reference:



The Financial Analyst will work as part of a team of professionals to meet the group's responsibilities as they relate to the accounting and pricing / valuation of financial instruments, and implementation of various projects. Responsibilities will include the following:

• Producing and reviewing valuations for financial instruments, utilizing systems and tools such as Numerix OneView, Murex, Summit, CrossAsset XL, etc.
• Analyzing and comparing WB valuations against corresponding counterparty valuations and other alternative information sources
• Preparing and ensuring quality of calculated market data, evaluating data sources, and verifying data reliability for valuations of borrowings and loan portfolios
• Verifying trade set-up and trade modifications
• Working on computation of lending rate
• Applying internal controls effectively and exercising due diligence in performing regular and ad hoc processes; Exercising fiduciary responsibility by reviewing policies and procedures and ensuring they are correctly followed
• Identifying, investigating, and resolving system-to-system reconciliation breaks and trade set up discrepancies
• Developing expectations, performing analysis, preparing commentaries, suggesting, and implementing solutions in a proactive manner
• Preparing various financial and management reports, as required by the department or other stakeholders
• Coordinating with external and internal auditors, when required
• Proactively interacting with WFA colleagues and Treasury (TRE) front office business units and other units as required to stay abreast of new / proposed activities that may have accounting, valuation or reporting implications
• Proactively interacting with other financial institutions to ensure that practices adopted are in line with the market practice. Staying abreast of industry best practice as it relates to valuation / accounting of financial instruments.
• Identifying opportunities for improvements in current processes, initiating improvements within the system and control framework; working with business and technology teams across locations to implement solutions / improvements.
• Leading / participating in institutional projects, business initiatives and new product implementations, as and when required
• Contributing to requirement specification, testing, implementation, and maintenance of systems supporting various portfolios
• Maintaining and developing processes, procedures, documentation, and internal controls around portfolios handled, with the objective of increasing efficiency and accuracy
• Mentoring and training junior staff and performing review of work done by such staff, as and when required

Selection Criteria

Education and Experience:



• Bachelor's degree(s) in Engineering, Mathematics, Physics, Finance, and/or Economics and a minimum of 3 years' relevant experience or equivalent combination of education and experience.
• CFA/FRM and / or CA/CPA/ACCA/CGMA. Master's degree(s) in Accounting, Finance, and/or Economics may be considered in lieu of CFA/FRM and / or CA/CPA/ACCA/CGMA
• Professional experience with major financial institutions, with practical knowledge of product control functions (such as valuation and accounting) related to financial instruments



Core Technical Knowledge:



• Deep knowledge of treasury products / financial instruments and derivatives (i.e., capital and money market instruments, particularly fixed income instruments) and their valuation methods
• Working knowledge of Numerix OneView (including CrossAsset XL) and / or other valuation platforms
• Working knowledge of Murex / Summit or other front-to-back treasury systems, and integrated financial systems such as SAP, SAP BI/BO reporting tools
• Good understanding of market data requirements for capital / investment market transactions and knowledge of Bloomberg / Reuters
• Proven quantitative and qualitative analytical skills, including excellent spreadsheet and skills. Familiarity with financial modeling techniques, programming languages (e.g., Python), writing macros will be a plus
• Experience in supporting implementation of system applications / tools - preparing specifications, design analysis, testing, etc.
• Ability to contribute to team performance with strong interpersonal and communication skills
• High level of initiative, self-confidence, and a self-starter; proven problem-solving skills, ability to deliver high quality results and operates with minimum supervision
• Proven capacity to deliver results and respond quickly and effectively to requests. Ability and desire to meet tight deadlines
• Flexibility to perform a variety of tasks and expand the scope of work and responsibilities; committed to achieving individual and team results
• Excellent verbal and written communication and presentation skill
• Highest ethical standards



Competencies:



• Deliver results for clients - Takes full ownership to address client needs. Demonstrates initiative, independence, and autonomy in addressing client needs in changing business contexts and environments. Allocates and prioritizes resources according to areas of most urgent need and greatest impact for the client.
• Collaborate within teams and across boundaries - Adopts a collaborative approach to improve overall effectiveness outside the unit as well and displays an open helpful attitude toward others. Approaches conflicts as common problems to be solved. Demonstrates understanding of and acts to incorporate multiple perspectives. Frames thinking/actions with a WBG corporate perspective in mind.
• Lead and innovate - Initiates changes to work processes to improve efficiency and performance. Applies creativity, flexibility, and persistence to develop new approaches. Considers own behavior in context of WBG's values and mission and recognizes impact on others. Frames problems and recommends solutions.
• Create, Apply and Share Knowledge - Actively promotes knowledge-sharing. Takes ownership for organization of knowledge-sharing and learning activities. Contributes to the knowledge of the work group and beyond. Uses feedback to develop self and mentor others. Builds personal and professional networks within and beyond the work group.
• Make Smart Decisions - Analyzes data to support and enable decision-making. Anticipates, researches, reviews, and analyzes available data and relevant empirical evidence, including lessons learned. Understands risk and can provide basic assessment using cost-benefit analysis. Uses critical thinking and good judgment to make decisions. Supports decisions, takes action and ensures appropriate follow-up actions are taken.
• Broad Business Thinking - Maintains an in-depth understanding of the long-term implications of decisions both for the team and client's business. Ensures that decisions are supported by relevant stakeholders as well as sound performance data. Effectively communicates recommended changes to clients and how they will affect their business while attempting to minimize day-to-day disruption of operations.
• Project Management - Develops and implements realistic and achievable work plans for group or project team - including tasks, priorities, resources, and schedules. Establishes priorities, identifies critical tasks, and pushes projects forward in a timely fashion. Establishes controls to detect problems early and notify those involved if deadlines are affected. Creates opportunities and solutions that address more difficult or abstract situations. Creates and adapts solutions to address unusual data or novel situations.
• Analytical Thinking - Coordinates the information gathering and reporting process. Reviews trends and compares to expectations. Conducts research to define problems and prepares responses to anticipated questions. Prioritizes multiple issues and opportunities. Identifies relationships and linkages within several information sources. Anticipates issues that are not readily apparent on the surface. Identifies root causes and effects. Reports and identifies areas that need guidance to resolve complex issues. Anticipates the possible outcome of potential solutions.
• Policies and Procedures - Seek out opportunities to further understanding of relevant policies and guidance. Identify areas for improvements in existing policies and procedures. Emulate best practices in completing own work program. Provides guidance to junior staff and plays a role in transferring skills and knowledge to others.
• Risks and Controls - Demonstrate understanding of key risks and internal control procedures in the related processes. Able to identify key risks and mitigating control steps in own functional areas. Perform internal control procedures in compliance with the overall risk and control framework. Takes proactive measures to know the internal control procedures (e.g., talks with business leaders about their goals and priorities).
• Information Technology and Systems - Leverage information technology systems and applications to improve productivity and efficiency. Provide inputs to IT system enhancement efforts based on day-to-day working experience and knowledge of the systems.
• Communication - Utilize appropriate tools and techniques to explain technical information in plain language. Present information in a logical and organized manner both in speech and in writing. Writes effective correspondence, prepares questions and reports, statements of circumstance and briefing notes.

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.•