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Financial Operations Analyst

Job #: req13373
Organization: IFC
Sector: Finance & Accounting
Grade: GE
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
Location: Chennai,India
Required Language(s): English
Preferred Language(s):
Closing Date: 10/27/2021 (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’s 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 reporting and analysis, 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 Treasury Support Operations Division within IFC Controller’s Department provides back-office and accounting services for all IFC's Treasury activities, with its teams located in both Washington, DC (CNTTR) and Chennai, India (CNTTS). The Division also provides operational support in the development of IFC Treasury’s new business initiatives and products. The Division delivers its work program on a cross support basis; the Chennai team interacts with colleagues in Washington on a day–to–day basis and ensures that the support operations are successfully delivered.

IFC Controllers Department is seeking a Financial Operations Analyst in the IFC Treasury Support Operations unit in Chennai (CNTTS). This is a technically specialized position that will support processing operations of Treasury transactions, including bonds, derivatives, etc. The position requires thorough knowledge of treasury products, and particularly ISDA derivatives trade confirmation, as well as proficiency in handling multiple systems, including Summit (the front-to-back treasury system), Quantum, the cash processing system, etc. The selected candidate will be required to work with various team functions and become a fully functional team member within a short timeframe. The position requires the ability to establish productive relationships with staff at all levels within the team and across various units of IFC. The incumbent will report to the Financial Operations Officer in CNTTS, Chennai. The staff should be open to flexible hours and follow the Washington D.C. (HQ) holiday calendar, as the work program involves dealing with global markets.

The Financial Operations Analyst will work as part of a team of professionals to meet the group’s delivery of back-office operations for all IFC Treasury activities.

Responsibilities will include the following: 

• Carry out trade verification, ISDA confirmation and settlement activities for fixed income securities and associated derivatives, including but not limited to bonds, futures, options, swaps, repos, money-market, and other cash instruments
• Build and sustain effective relationships with internal and external partners and clients, including market counterparts, custodians, agents, and banks 
• Validate and process new and existing transactions performed by various IFC Treasury trading desks in Washington DC, London, and Singapore
• Investigate and close out all unresolved settlement discrepancies
• Prepare and process a suite of SWIFT messages that support Treasury transactions 
• Perform transaction analysis and propose system updates for accounting operations and reconciliation activities
• Perform cash analysis and related reconciliations
• Effectively communicate the results of the analysis to management and other units in the Bank
• Participate in testing and implementation of new/improved systems and processes
• Carry out and/or participate in any other ad hoc tasks as may be assigned by the Team Lead 
• Ensure that all business processes in the unit are accurately detailed and followed
• Communicate effectively with IFC Treasury Support Staff and management both in Chennai and in Washington, D.C. (HQ) on the status of all assigned activities
• Continually look for opportunities to improve processes and internal controls, promoting and ensuring compliance with controls
• Act as back-up in the absence of other Treasury Support Unit staff, as and when required.

Selection Criteria

• Master’s degree, preferably with a major in business administration, accounting, finance, or international trade. Professional qualification such as CA/CPA/ACCA/CGMA and/or CFA/FRM would be preferred
• Minimum 4 years of experience in related fields with a public / private financial institution (including IFC/IBRD) or the finance / treasury function of a public / private corporation.  Proven track record in previous position
• In-depth knowledge of fixed income and OTC derivative instruments related to funding and liquid investment operations
• Good working knowledge of Summit application, Marketwise and SWIFT and other settlement systems
• Good knowledge of trade verification, ISDA confirmation, settlement, and accounting processes, in relation to treasury products
• Understanding of treasury products / financial instrument accounting
• Ability to contribute to team performance with strong interpersonal and communication skills
• A positive and self-starter attitude (motivation, drive, initiative); and ability to work in a team-oriented, and multi-cultural environment
• Fluency in written and spoken English required

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.