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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.
Innovation and partnership bond the five institutions of the World Bank Group (WBG): the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). The World Bank Group is one of the world's largest sources of funding and knowledge for developing countries. It uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth, and improve quality of life. To ensure that countries can access the best global expertise and help generate cutting-edge knowledge, the World Bank Group is constantly seeking to improve the way it works. Key priorities include delivering measurable results, promoting openness and transparency in development, and improving access to development information and data.
The World Bank Treasury ("Treasury", TRE) is the Vice Presidency performing treasury functions for the IBRD and for other members of the World Bank Group. Its activities are organized and grouped along three segments: asset management, banking and debt management, and capital markets services. Treasury has been a large and significant player in the international financial markets for more than fifty years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager. Treasury is responsible for: (i) managing more than $130 billion in assets for the World Bank and other official-sector investors; (ii) leading the World Bank's financing program in international and domestic bond and derivatives markets; (iii) conducting asset and liability management for the World Bank's balance sheet; (iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and (v) collaborating with the World Bank member countries to help build their capacity. Treasury's staff regularly interacts and collaborates with the other departments across the Bank and Finance Teams, including: Legal Finance (LEGFI), Controller's (CTR), Development Finance (DFi), WBG Chief Risk Officer VPU (CRO) and WBG IT Finance (ITSFI).
The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group's funded benefit plans, including the retirement scheme - the Staff Retirement Plan, the retiree medical and life insurance programs - the Retired Staff Benefits Plan, and other ancillary benefits. The Pension Administration Division (PENAD) is part of (PEN) and has two teams located in the Bank’s offices Washington, DC and Chennai, India. PENAD provides a full range of support functions for the administration of the Staff Retirement Plan (SRP), the Retired Staff Benefits Plan (RSBP) and the Post-Employment Benefit Plan (PEBP). These Plans cover approximately 15,000 active staff and 9,000 retirees around the world. PENAD determines and administers payment of pension benefits to retirees in U.S. dollars and foreign currencies, accounts for the pension benefit payments, and provides a comprehensive educational program to disseminate the Staff Retirement Plan provisions to participants in the headquarters and country offices. 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. 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: The Pension Administration ET temporary is a member of the team and reports to the Financial Officer. Work implies frequent interaction with internal counterparts in Treasury, Legal, Accounting/Tax and Human Resources. • Assist in the timely and accurate processing of pension related payments and accounting; • Reconcile pension contributions of active staff and coordinate with the Payroll office to resolve any discrepancies. • Prepare communication in response to employees’ and pensioners’ inquiries about the Plan and associated benefits; • Calculate pension benefit payments made under the Plan at the request of active participants and prepare certifications as requested by retired participants; • Review benefit calculations to ensure consistency with the Plan provisions and established procedures; • Demonstrate ability to independently respond to extensive and diverse inquiries and make decisions when multiple courses of action are possible. Be able to process, handle, and communicate matters of a sensitive and confidential nature. • Excellent interpersonal skills and mature judgment with the ability to deal tactfully and effectively with internal/external contacts at all levels in a multicultural environment. • Identify systems problems and recommend enhancements; and • Undertake ad hoc projects and special assignments as required by Supervisor and Headquarters as needed. • Interact with Treasury unit in investigation of discrepant payments • Present briefings to groups of staff on Pension Plan provisions.
Selection Criteria
• A master degree in accounting/finance with 4 + years of hands on experience in Global payroll and accounting functions. Experience with pension plan administration and hands on experience in SAP environment will be a plus. A professional qualification in accountancy or benefits administration (CPA, CA, CIA, CFA, PHR, SPHR) would be desirable. • Hands-on experience of 2 years with administration of a global pension plan and familiarity with defined benefit plans is highly desired • Excellent verbal and written communication skills in English • Excellent interpersonal skills to deal with various contacts • A strong team player • Excel skills with ability to write excel formulas and record macros • Outcome oriented / Drive for Results. • Highest ethical standards.
Competencies:
• Integrity and Independence - Prepares accurate reports, ensuring that pertinent facts are fairly presented; shares information freely. • Accounting and Transaction Processes (PENAD) - Understands the coding, fund management structure and accounting (cost and expense) flows in the ERP system. • Administrative Support and Customer service - Has positive customer service attitude; demonstrates tolerance, appropriate humor and patience with difficult customers, and is able to identify and handle complex issues. • Pension Payroll Processing - Able to set up payroll records with proper effective date, currency code, amount and payment instructions and verify calculations. • Presentations and Communication - Is aware that each organization has its own cultural preference for certain communication mediums and styles. • Records Management/Content Management on Web - Able to publish and maintain content according to established processes and standards. • Client Orientation - Takes personal responsibility and accountability for timely response to client queries, requests or needs, working to remove obstacles that may impede execution or overall success. • Drive for Results - Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results, and has the personal organization to do so. • 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. • Knowledge, Learning and Communication - Actively seeks knowledge needed to complete assignments and shares knowledge with others, communicating and presenting information in a clear and organized manner. • Business Judgment and Analytical Decision Making - Analyzes facts and data to support sound, logical decisions regarding own and others' work.
World Bank Group Core Competencies 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. Note: The selected candidate will be offered a one-year appointment, renewable at the discretion of the World Bank Group, and subject to a lifetime maximum ET appointment of three years. If an ET appointment ends before a full year, it is considered as a full year toward the lifetime maximum. Former and current ET staff who have completed all or any portion of their third-year ET appointment are not eligible for future ET appointments.
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