Senior Accounting Assistant, Chennai, India
Organization: The World Bank
Office: World Bank in Chennai, India
Closing date: Friday, 3 March 2023
Senior Accounting Assistant
Job #: req21360
Organization: World Bank
Sector: Finance & Accounting
Term Duration: 4 years 0 months
Recruitment Type: Local Recruitment
Required Language(s): English
Preferred Language(s): Closing Date: 3/3/2023 (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 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 expense records 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.
This remains a competitive process and interested candidates are encouraged to apply.
Duties and Accountabilities:
Conduct reviews of the World Bank group’s administrative and capital expense transactions to verify accuracy of records, compliance with Bank’s policies and procedures.
Conduct reviews of administrative transactions (both travel and staff & other admin expenses related) to verify accuracy of records, compliance with Bank’s policies and procedures
Assess controls relate to World Bank Group country offices by conducting scorecard and remote, deep dive reviews
Prepare trial balance reports covering admin expense ledger accounts and provide analysis for variances
Support Global Travel Card Program by collaborating with regional / country office focal points, travel management companies, CITI, Visa, ITS (Information Technology solutions), GCS (Global Corporate solutions), and HQ counterparts in facilitating smooth rollout of myCard.
Support processing of invoices, reconciliation, following up for missing information, fixing issues, etc. to ensure prompt payment to vendors.
Participate in user testing and implementation of any new systems, applications, tools, and reports for the team.
Extract data from source system (SAP/BI) to develop the data analytics needed to conduct compliance testing.
Follow-up with the units on appropriate and timely submission of documentation and clarifications for review.
Identification of problems and areas of possible improvements and development of constructive recommendations for improvements in effectiveness and efficiency and internal controls over the activities reviewed.
Perform ad hoc analytics requests
Participate in the user testing and implementation of any new systems, applications, tools, and reports for the team, to enhance efficiency, effectiveness, and standardization.
Bachelor’s degree in Commerce OR Master’s degree in Finance/Accounting with at least 3 years of work experience;
CA or CPA (or an equivalent professional accounting qualification) is desirable
Strong analytical skills with ability to collate and interpret data, assess issues, develop sound conclusions, formulate remedial measures with attention to detail and accuracy.
Experience with SAP enterprise resource planning system, Power BI, Tableau is desirable, but not required.
Exposure to other systems like People soft, and proficiency in Microsoft windows applications viz, Excel, word, power point would be an added advantage. A proven track record of problem-solving skills in an automated accounting environment
Excellent judgment, very good written and oral communications skills (including ability to write clear, concise, and complete procedure); ability to carry out a multi-dimensional, multi-functional work program.
Exhibit a personality that enables the incumbent to be client focused, flexible and an excellent team player. Ability to effectively work with various levels of staff with-in the department and across the Institution.
Self-motivated person with high degree of initiative and a strong team player.
Deliver results for clients - Proactively addresses clients stated and unstated needs. Adds value by constantly looking for a better way to get more impactful results; sets challenging stretch goals for oneself. Identifies and proposes solutions to mitigate and manage risks
Collaborate within teams and across boundaries - Collaborates across boundaries, gives own perspective, and willingly receives diverse perspectives. Appropriately involves others in decision making and communicates with key stakeholders. Approaches conflicts as common problems to be solved.
Lead and innovate - Develops innovative solutions. Contributes new insights to understand situations and develops solutions to resolve complex problems. Adapts as circumstances require and manages impact of own behavior on others in context of WBG’s values and mission.
Create, Apply and Share Knowledge - Applies knowledge across WBG to strengthen WBG client solutions. Leverages department’s expertise and body of knowledge across WBG to strengthen internal and/or external client solutions.
Make Smart Decisions - Interprets a wide range of information and pushes to move forward. Seeks diversity of information and inputs, research possible solutions, and generates recommended options. Based on risk analysis makes decisions in a timely manner within own area of responsibility, considering the interests and concerns of stakeholders.
Client Understanding and Advising - Looks at issues from the client’s perspective and advocates for clients within own area as well as urges others to focus on meeting client needs. Works with others across the VPU to define client needs and develop the best approach to meet client needs.
Broad Business Thinking - Maintains an in-depth understanding of the long-term implications of decisions both for related areas within the VPU and the client’s business. Involves the key players in identifying operating needs, issues, and immediate solutions.
Project Management - Prepares and manages multi-resource plans which affect the direction of the work unit. Analyzes complex, evolving circumstances and takes corrective action to avoid resource constraints and meet deadlines. Creates new solutions that address problems and anticipate obstacles - i.e., thinking ahead about next steps in detail.
Analytical Thinking - Determines criteria for assessing issues and opportunities. Establishes clear goals and priorities needed to assess performance. Identifies relationships and linkages between different information sources. Anticipates potential problems and develops solutions needed to resolve them. Translates analytical reports into management presentations and provides guidance to resolve issues.
Policies and Procedures - Demonstrate thorough knowledge of policies and procedures in related fields. Provide training and guidance to junior staff in enhancing their understanding of relevant policies and procedures. Lead by example and serve as the best practice champion in applying pertinent policies and procedures.
Risks and Controls - Lead by example and serve as best practice champions in completing internal control procedures, including understanding impact beyond own immediate functional areas. Assess impact of potential control risks and propose mitigating control procedures as appropriate, with balanced efficiency and effectiveness results within any given processes.
Information Technology and Systems - Demonstrate understanding of the functions and operations of pertinent IT systems and applications. Provide training and guidance to junior staff regarding IT system structure and function related area as relevant to the functional area. May Identify and/or lead opportunities for IT improvements to meet changing business needs and coordinate with IT professionals to design and implement new systems/applications as appropriate based on understanding of the business.
Communication - Adapt the communication style appropriate for the intended audience. Adopt an inclusive approach to communication as is appropriate to the situation, to ensure adequate stakeholder participation. Present information effectively and encourage feedback.
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.
Link to the organization’s job posting: https://unjobs.org/vacancies/1676746070196