International Finance Corporation (IFC)

Financial Operations Analyst

International Finance Corporation (IFC)

Job Description

 

IFC—a sister organization of the World Bank and 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 2019, we invested more than $19 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end Extreme Poverty and boost shared prosperity. For more information, visit www.ifc.org

The IFC 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 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 IFC Loan and Equity Operations Units (CNTLO and CNTEC) within the Controllers Department have overall responsibility for recording, servicing and providing post commitment support for the private sector loan, guarantee, short term finance products and programs and equity investments of the International Finance Corporation.

The IFC Equity & Custody Support (CNTEC) Unit has overall responsibility for recording and servicing IFC’s equity investments and custody of IFC’s securities. The unit provides direct internal accounting, financial operations, client-facing funding and custodial services to support the management and supervision of IFC’s equity investments.

The CNTEC Financial Operations Analyst will report to and work closely with, and report directly to, the CNTEC Team Lead and Manager of IFC Loan & Equity Operations to provide tactical transactional support services for the IFC’s equity portfolio. The Financial Operations Analyst will function as a member of a specific, portfolio-focused (Industry specific and Fund) support team and will be based in Washington, DC.

Duties & Responsibilities:

The successful candidate will work closely with the CNTEC Team Lead and unit Manager on our equity portfolio program, investment project management, financial and portfolio performance reporting, technology/automation development and knowledge transfer/learning activities. The individual is expected to independently undertake substantive pieces of work and deliver world class equity support services in Coordination with relevant IFC investment, mobilization, funds, credit and risk management teams in the IFC and others across the IFC Risk and Finance Vice-Presidency Department.

CNTEC is seeking a qualified finance and accounting professional with well-developed technical expertise related to equity and custody operations and activities to provide client servicing support, deliver high standards of team performance and support the achievement of departmental goals and objectives. The individual will:

  • Review and settle all equity and custody related investment agreements within the current and future servicing capabilities of the Unit.

  • Perform end-to-end equity investment transaction processing, commitment booking, disbursement processing, ad-hoc invoice processing, payment clearing and application and portfolio support activities including review of transactions in the equity Accounting System, Investran BEM, for IFC’s equity investment portfolio.

  • Review signed equity investment agreements and ensure that all terms and conditions are correctly reflected in the systems and processes of the Unit.

  • Ensure consistency of commitment and disbursement transactions between the agreements, client instructions in accordance with IFC Operational Procedures.

  • Initiate processing, monitoring, compliance and reporting of exceptional investment transactions, such as corporate actions, mergers and acquisitions, redemptions, restructurings, directors’ fees, and cancellations.

  • Liaise with Custodian on all aspects of equity investment transaction processing and settlements. Provide settlement and accounting support to Investment departments on all equity and equity related transactions.

  • Handle receipt and release of physical share certificate according to set procedures.

  • Manage end-to-end disbursement processes in the Investran systems and other system interfaces to ensure compliance with funding and settlement procedures and guidelines.

  • Review and verify all entries to Investran, e.g. call of funds and service payments, to ensure quality and service standards.

  • Perform, analyze and reconcile major clearing and suspense accounts in Investran system within assigned portfolio.

  • Prepare reconciliation of trial balance on complex equity investment product.

  • Handle internal and External Communications regarding disbursement and service payment procedures and processes.

  • Support Unit system enhancement and process improvement initiatives.

  • Support and carry out the technical workplan(s) in the absence of other Team Members when appropriate.

Selection Criteria

Education and Experience:

  • Undergraduate degree(s) in accounting or finance or business and a minimum of 6 years relevant work experience in equity.

  • Knowledge of global market custody operations.

  • Understanding of accounting concepts and knowledge of IFC’s Financial Products.

  • Experience with and broad knowledge of IFC's enterprise IT systems (iDesk, iPortal, EPMS TM, EPMS VM, Investran PCAL, Investran Equity, Quantum, SAP, CSIP, SWIFT/SAM) a plus.

  • Proven track record of achieving high quality results, managing programs and delivering client value-added services to meet team and departmental objectives.

  • Recognized as a proactive team player and problem solver.

  • Proven ability to conceptualize, Design, and implement innovative solutions and challenge the status quo.

  • Demonstrated ability and reliability to identify opportunities for automation and propose the right and sustainable solutions to improve operational efficiency.

  • Experience working with IT in the design and deployment of system and process improvements.

  • Demonstrated strong written and verbal communication skills and ability to convey complex issues concisely to senior management, colleagues and clients.

  • Strong sense of service to clients and demonstrated ability to obtain results in a time pressured environment.

WBG Core Competencies

  • Deliver Results for Clients - Achieves results and identifies mission-driven solutions.

  • Collaborate Within Teams and Across Boundaries - Initiates collaboration across boundaries and broadly across WBG and brings differing ideas into the forefront.

  • Lead and Innovate - Develops innovative solutions with others.

  • Create, Apply and Share Knowledge - Creates, applies and shares knowledge from across WBG to strengthen internal and/or external client solutions.

  • Make Smart Decisions - Recommends and takes decisive action.

Controllers Department Competencies

  • Client Understanding and Advising: Advises the clients and helps them think proactively about how to best meet their current and future needs, taking into considerations the real underlying issues. Works across CNT and with other VPUs to define client needs and develop the right solutions to meet those needs. PLUS: Provides recommendations to multiple VPUs that can add value to customers beyond normal offerings.

  • Broad Business Thinking: Maintains an in-depth understanding of key business issues. Sets clear explanations for the integration and alignment of CNT solutions with business functions. PLUS: consider WBG wide implications in decision making to ensure consistency across WBG. Sponsors long-term VPU-wide initiatives.

  • Information Technology and Systems: Demonstrates understanding of the functions and operations of pertinent IT systems and applications. Provides inputs to IT system enhancement efforts based on day to day working experience and knowledge of the systems.

  • Analytical Thinking: Coordinates the information gathering and reporting process. Reviews trends and compares to expectations. Conducts Analysis to define problems and prepares responses to anticipated questions.

  • Policies and Procedures: Demonstrates thorough knowledge of policies and procedures in related fields.

  • Risks and Controls: Leads by example and serves as best practice champions in completing internal control procedures, including understanding impact beyond own immediate functional areas.

  • Communication: Adapts the communication style appropriate for the intended audience. Adopts an inclusive approach to communication as is appropriate to the situation, so as to ensure adequate stakeholder participation. Presents information effectively and encourage feedback.

  • Project Management: Understands and utilizes the concepts of project management, as they relate to the implementation of a project.

Poverty has no borders, neither does excellence. We succeed because of our differences and we continuously search for qualified individuals with diverse backgrounds from around the globe.

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