Job #: req22554
Organization: World Bank
Sector: Finance & Accounting
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
Required Language(s): English
Preferred Language(s): French
Closing Date: 5/19/2023 (MM/DD/YYYY) at 11:59pm UTC
Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. 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, increasing shared prosperity and promoting sustainable development. With 189 member countries in more than 120 offices worldwide and with over 16,000 staff globally, 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 WBG Finance & Accounting (WFA) Vice Presidential Unit is responsible for all aspects of the financial reporting and internal control framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the extensive Trust Fund/Partnership portfolio of these entities. WFA also leads the client shared service function for the WBG corporate expenses and WBG trust funds and ensures fiduciary responsibility for all disbursements related to Bank operations.
WBG Trust Fund and Loan Operations Department (WFATL) in the WFA Vice Presidential Unit provides several financial operation activities, notably financial services, compliance, disbursements, accounting, and analytics for IBRD/IDA loans and Trust Funds.
WFA Client Services (WFACS) is a Unit within WFATL that is devoted to providing “frontend” client services and related operations to clients and is organized along business lines serving the regions and global practices. The services within WFACS’s area of responsibilities fall under three categories: regional coordination; country focal point assistance; and project-level fiduciary and portfolio management.
WFACS is seeking a proactive, highly motivated Finance Officer (FO) to be an integral and active member of its client service team to be based in Nairobi, Kenya.
Duties and Accountabilities The Finance Officer’s primary responsibilities will include, but are not limited to the following activities: Technical: A- Country Focal Point: 1. Serve as focal point for internal and external client inquiries at the country level and escalate them as needed. 2. Provide country-related input to the Team Lead (TL) and the Manager to drive conversations with Country Management Units (CMUs) about country coordination within the assigned region. 3. Interact with Team Task Leaders (TTLs) to follow up on financing and disbursement-related issues arising in project preparation; contact CMU and borrowers to advise on new financial products, loan instruments that could benefit project preparation and facilitate resolution of portfolio disbursement bottlenecks; facilitate conversation between CMU and Ministry of Finance (MoF) on debt service options (whenever new product or service emerges). 4. Participate in regular meetings for TLs/ Finance Officers (FOs)/ Finance Analysts (FNs)/Manager to share insights across countries, and promote knowledge-sharing. 5. Participate in country team meetings to provide advice on initiatives impacting disbursement-related issues at the portfolio level
B- Project Preparation: 1.For pipeline projects in assigned portfolio countries, provide support to task teams by reviewing project documents (Concept Notes, Appraisal Documents, Financing Agreements, etc.) and other sources of information, providing timely inputs and raising issues, which may have an impact on disbursement arrangements, or are unclear, and escalate to management any issues that require management action or support. 2. Advise the task team on disbursement-related aspects of loans/credits/grants/TFs to ensure they are consistent with Bank policies and procedures and will adequately support project implementation with due regard for economy and efficiency. 3. Prepare disbursement and financial information letters (DFIL), loan repayment terms and amortization schedules, and participate in project preparation meetings including technical discussions and negotiations. 4. Review and clear project/program documents including, negotiation and board packages, in accordance with WFA standard procedures and applicable Bank policies. 5. Setting up of the loan financing terms and loan data in the system (iLAP). 6. Carry out the disbursement risk assessment of projects. 7. Carry out the responsibilities in compliance with WFA’s control framework. 8. Design and deliver capacity-building training (e.g. Disbursement Trainings), in coordination with FNs and the TLs. 9. Deliver project preparation training and job shadowing initiatives for Finance Analysts (FN) to further develop FN’s ability to serve clients. 10. Conduct quality assurance on the work done by FNs and provide input into the performance appraisal of the FNs.
C- Project Implementation: 1. Manage highly complex Level 1 restructurings. 2. Advise and resolve complex implementation issues, including those that require coordination with other units such as INT, CMU, GP, FM or Procurement.
D- Relationships: 1. Participate in monthly meetings for FOs/FNs/Managers/TLs to generate and share insights across countries. 2. Serve as a solution provider for advice to internal clients and external on preparation and implementation issues in the assigned countries. 3. Partner with Legal, Financial Management and Procurement to provide cohesive approach to engaging with TTLs. 4. Appropriately handle other tasks that may be assigned by WFATL’s management. 5. Coordinate/lead special project/initiative assigned by the management, including collaboration with Multilateral Development Banks (MDBs).
The candidate should meet the following criteria:
- Professional accounting qualification (CA, CPA, ACCA or equivalent accounting qualification)
- Bachelors in Finance, Accounting or relevant discipline
- Minimum of 5 years of relevant work experience
- Experience with a financial institution or a Big 4 accounting firm is a plus
- Master’s in Finance, Accounting or relevant discipline is a plus
- Language Skills: Ability to communicate effectively in English, in writing and orally, is required. Knowledge of French is desirable.
- Relevant knowledge of Generally Accepted Accounting Principles (GAAP), internal controls procedures and financial management.
- Knowledge and application of the Bank operational policies, including understanding the interaction between the Bank’s Operational Policies, Bank Procedures, and individual trust fund programs as they relate to disbursements.
- Ability to exercise professional judgment and appropriately interpret and apply operational policies, as they relate to disbursements.
- Knowledge of the Bank’s IBRD and IDA lending products and choices of repayment terms.
- Strong quantitative skills with superior attention to detail and numerical accuracy.
- Strong analytical and conceptual skills with demonstrated ability to interpret data, assess issues, develop sound conclusions, and formulate remedial measures.
- Ability to manage complex tasks, deal with rapidly shifting priorities, provide professional support to senior staff and deliver against ambitious deadlines.
- Capacity to work simultaneously, effectively and efficiently on a variety of diverse issues and tasks, independently adjusting priorities and achieving results with agreed objectives and deadlines.
- Ability to operate effectively in a matrix management environment.
- Strong client focus including good interpersonal, diplomatic and team building skills required for building and maintaining collaborative relationships.
- Willingness to travel on short-term assignments.
Key Competencies The preferred candidate must demonstrate the following competencies:
- Communication: communicate to effectively share and exchange information. Able to listen actively, obtain necessary input, share ideas, speak persuasively, and convey information in a clear, objective, and concise manner.
- Collaboration within teams and across boundaries: collaborate and work with others across and outside of the World Bank Group in order to achieve the best results for clients; maintain a WBG corporate mindset above an individual or team perspective.
- Willingness to work in different time zones – Given that the division is co-located in multiple cities in different time zones, candidates must be willing to work in different time zones especially the US EST time zone on an ‘as-needed’ basis.
- Leadership and innovation: take initiative, and be persistent in their drive for results; seek opportunities to improve and find innovative solutions to problems; inspire and encourage others to have a positive attitude and impact; be able to adapt to changing circumstances, and be bold to increase the Bank’s Group’s effectiveness.
- Smart decision making: balance the need for making empirically-based sound decisions with a sense of urgency by making quick, timely, and relevant decisions; be a good problem solvers.
- Client understanding and advising: strive to add value to clients in the business; understand the critical forces that shape clients’ needs.
- Results for clients: address the needs and challenges of clients; hold themselves accountable and take personal ownership for identifying and managing risks and delivering evidence-based results.
- Knowledge creation, application, and sharing: share their expertise; create and contribute to the WBG’s body of knowledge; and efficiently reflect and draw on lessons from colleagues; expand their professional networks in their areas of expertise.
- Broad business thinking: solicit information on WBG/VPU direction, goals and industry competitive environment to determine how own area can add value to the organization and to clients. Makes decisions and recommendations clearly linked to the organization’s strategy and financial goals.
- Project management: plans, organizes, monitors and controls projects and tasks using appropriate tools, methodologies and processes.
- Analytical thinking: able to breakdown raw information and undefined problems into specific, workable components that in-turn clearly identify the issues at hand. Make logical conclusions, anticipate obstacles and consider different approaches that are relevant to the decision making process.
- Policies and procedure: understand and apply relevant policies and procedures in executing responsibilities.
- Risks and controls: assess risks and maintain an effective and efficient internal control environment. Able to identify and assess risks, including identification of mitigating controls.
- Information technology and systems: utilize information technology to support business operations.
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.