Extended Term Consultant, Chennai, India

Organization: The World Bank

Country: India

City: Chennai

Office: World Bank in Chennai, India

Closing date: Wednesday, 4 January 2023

E T Consultant

Job #: req20574

Organization: World Bank

Sector: Finance & Accounting

Grade: EC1

Term Duration: 1 year 0 months

Recruitment Type: Local Recruitment

Location: Chennai,India

Required Language(s): English

Preferred Language(s): Closing Date: 1/4/2023 (MM/DD/YYYY) at 11:59pm UTC

Description

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 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

World Bank Group Finance and Accounting (WFA) is led by the Vice President and Controller, who reports to the Chief Financial Officer. WFA in the Bank comprises the following functions: Financial Instruments Accounting and Valuation; Loan and Trust Fund Operations; Accounting Business Services; Financial Reporting; Accounting Policy; Documentation and Communication; Advisory Services; and Risks and Controls. These units collectively include approximately 450 staff, of which 100 are in Washington, D.C. with the remainder in regional offices including the largest in Chennai, India.

WFA Financial Controls (WFAFC) is a business division in WFA and is responsible for the fair recording and reporting of the WBG’s administrative expenses and fixed assets, which have a combined financial statement value of nearly $4.0B. This includes delivering core accounting services, maintaining an effective system of internal controls, and providing strategic leadership on complex business issues pertaining to the following administrative expenses and functions: (i) Travel Accounting, Accounts Payable, Fixed Asset and Lease Accounting, and Quality Assurance (together known as WFATA); and (ii) Accounts Receivable, Payroll and Tax Allowance Administration(WFAPT).

Unit Overview The Assurance and Client Support unit (WFATQ) is located in Chennai, India, and functionally reports to WFATA. The unit supports WFATA in effective delivery of work program related to(a) Travel accounting; and (b) Quality assurance.

Quality Assurance (QA): The primary purpose of this function is to review administrative and capital expense records covering the WBG, to test for compliance with policies and procedures; identify opportunities for strengthening controls; identify improvement needs in systems, policies and procedures; identify potential errors in expenses reported in the financial statements; and provide managers with a sound basis to make their annual ICFR assertions about the effectiveness of controls over their use of administrative expenses.

Travel Accounting: Ensure that the policy related to Operational Travel Expense Reimbursement reflects management objectives; as owner (jointly with GCS) of the institutional Travel system (TravelWeb), maintain the system and ensure it operates in a manner consistent with policy; develop new tools and enhancements to address the changing needs of travelers and the institution; manage vendor contracts for corporate travel cards and manage user policies, processes and systems.

The position is in the Quality Assurance (QA) functional team.

Duties and Accountabilities:

Review of the WBG’s administrative and capital expense transactions to verify accuracy of records, compliance with Bank’s policies and procedures.

Assess controls relating to WBG country offices by conducting scorecard, on-site, and remote/deep dive reviews.

Prepare trial balance reports covering admin expense ledger accounts and provide relevant, appropriate analyses of expenses.

Identify themes, trends, and emerging risks as part of continuous monitoring activities.

Follow-up with the units on appropriate and timely submission of documentation and clarifications for review.

Perform ad hoc analytics requests.

Prepare QA reports, including the VPU controls summary reports summarizing the testing results; update the QA dashboard; follow-up on action items identified in such reports.

Selection Criteria

Master’s degree in Finance/Accounting with at least 3 years of post-qualification and relevant experience. Candidates with CA/CPA or equivalent will have an added advantage.

Good understanding of generally accepted accounting principles, accounting controls over accounting processes and financial reporting operations; familiarity with generally accepted auditing standards in these areas.

Strong analytical skills with ability to collate, organize and interpret data, assess issues, develop sound conclusions, formulate remedial measures with attention to detail and accuracy.

Proficiency in Microsoft Windows applications, namely Excel, Word and Power Point, including advanced spreadsheet design, manipulation, and analysis skills.

In-depth, detailed understanding of accounting systems, preferably SAP FI modules and their control features and configuration capabilities.

Excellent judgment, very good written and oral communications skills (including the ability to write clear, concise and complete procedure); ability to carry out a multi-dimensional, multi-functional work program.

Ability to deal sensitively in multi-cultural environments and build effective working relations with clients and colleagues.

Exhibit a personality that enables the incumbent to be client focused, flexible and an excellent team player. Ability to effectively work with other staff in the department and elsewhere in the Bank.

Self-motivated person with high degree of initiative and a strong team player.

Competencies:

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. Defines priorities within performance objectives. Reports and identifies areas that need guidance in order to resolve complex issues. Anticipates the possible outcome of potential solutions.

Policies and Procedures: Seeks 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.

Risk 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. Ensure compliance with overall risk and internal control procedures.

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.

Client Understanding and Advising: Looks at issues from the client’s perspective and acts beyond normal expectations to ensure client satisfaction. Analyzes situations and determines alternative or creative scenarios and approaches to add value to the business in new and different ways. Works within the team and with other specialty areas to define client needs and develop the best approach to meet client needs. Sees how ideas and best practices from other specialties can be adapted or applied to address client issues.

Broad Business Thinking: Maintains an in-depth understanding of the long-term implications of decisions both for department and the 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 using the client’s own terminology with limited jargon while attempting to minimize day-today disruption of operations.

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 for an additional one year, at the discretion of the World Bank Group, and subject to a lifetime maximum ET Appointment of two 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 second-year ET appointment are not eligible for future ET appointments.

Link to the organization’s job posting: https://unjobs.org/vacancies/1671735054043