Senior Financial Assistant

Job Posting Organization:
The World Bank Group is one of the largest sources of funding and knowledge for developing countries, established with a mission to end extreme poverty and promote shared prosperity. The organization comprises five institutions and has 189 member countries, with over 120 offices worldwide. The World Bank works with public and private sector partners, investing in groundbreaking projects and utilizing data, research, and technology to address urgent global challenges. For more information, visit www.worldbank.org.

Job Overview:
The Senior Financial Assistant position is integral to the Treasury Operations Department (TREOP) of the World Bank, which provides operational support for asset management, capital markets, and banking businesses. The role involves working closely with teams in Chennai, Washington D.C., and Sofia, Bulgaria, focusing on cash investigations, reconciliation, and accounting. The incumbent will be responsible for daily cash reconciliation, investigating discrepancies, preparing reports, and supporting the month-end book close process. The position requires collaboration with various internal and external stakeholders, including technology vendors and banks, to ensure accurate financial reporting and compliance with operational standards. The candidate will also be involved in process re-engineering initiatives aimed at enhancing efficiency and accuracy in operations.

Duties and Responsibilities:
The Senior Financial Assistant will perform a variety of duties, including:

• Client Reconciliation and Reporting: Conduct daily cash reconciliations for various cash flows related to asset management, investigate discrepancies, and prepare monthly reconciliation reports.
• Cash Accounting: Assist in the month-end book close process, prepare necessary reports, and ensure accuracy of data sent to the general ledger system.
• Process Re-engineering: Identify and prioritize automation opportunities, support automation initiatives, and maintain databases and reporting tools.
• Collaborate with Treasury departments and external service providers to facilitate the implementation of new products and technology solutions.
• Maintain close relationships with internal partners and ensure compliance with operational guidelines and reporting deadlines.

Required Qualifications:
Candidates must possess a Bachelor’s degree in commerce, Accounting, Finance, Business Administration, or Computer applications, along with at least 3 years of relevant professional experience. A post-graduate degree in similar disciplines is advantageous. Candidates should have knowledge and experience in financial instruments, cash and custody reconciliation, and reporting processes. Familiarity with payments processing, including SWIFT payments and ACH clearing, is essential. Strong quantitative and analytical skills, programming knowledge in Python, Power Query, and Excel Macro writing ability are also required. Excellent communication skills and the ability to work in a multi-cultural environment are crucial.

Educational Background:
A Bachelor’s degree in commerce, Accounting, Finance, Business Administration, or Computer applications is required. Candidates with post-graduate degrees in similar fields will have an advantage, as advanced education can enhance understanding of complex financial instruments and operational processes.

Experience:
The position requires at least 3 years of relevant professional experience in finance, accounting, or a related field. Candidates should have a proven track record of working with financial instruments, cash reconciliation, and reporting processes. Experience with systems that support trading and reporting activities is also necessary, along with a strong understanding of the payments processing space.

Languages:
The mandatory language for this position is English. Proficiency in additional languages may be beneficial but is not explicitly required.

Additional Notes:
This position is a local recruitment opportunity with a term duration of 3 years. The candidate is expected to work from the office in Chennai and may need to observe the US holiday calendar, potentially working on designated holidays to meet reporting deadlines. The role may require working Singapore/London shifts and providing extended support to overlap with Washington D.C. operations. The World Bank Group offers comprehensive benefits, including a retirement plan, medical, life and disability insurance, and paid leave, including parental leave.