Finance Associate

Job Posting Organization:
The World Bank Group is a global partnership of five institutions dedicated to ending extreme poverty and promoting sustainable development. Established in 1944, it has grown to include 189 member countries and operates more than 120 offices worldwide. The organization focuses on providing funding and knowledge to developing countries, working with both public and private sector partners to invest in innovative projects that address urgent global challenges. The World Bank Group aims to increase shared prosperity and improve living conditions for people in developing nations through various initiatives and programs.

Job Overview:
The Finance Associate position at the World Bank's Malawi Country Office is a critical role that involves supporting the organization's financial management and budgetary processes. The Finance Associate will be responsible for accounting functions, ensuring compliance with internal controls, and preparing monthly financial reports. This role requires collaboration with various departments to gather financial data, analyze budgetary trends, and assist in forecasting future financial needs. The Finance Associate will also contribute to the development of budgetary strategies and cost-saving measures, ensuring that the organization's financial resources are managed effectively. The position is designed to be flexible, allowing the Finance Associate to work across different assignments as needed, depending on business requirements and professional development goals.

Duties and Responsibilities:
The Finance Associate will assist in preparing and managing the organization's budget, ensuring accuracy and compliance with financial policies and regulations. Key responsibilities include analyzing budgetary data, monitoring expenditure trends, and reporting on variances between actual and budgeted figures. The Finance Associate will collaborate with various departments to gather financial information, assist in forecasting future budgetary needs, and contribute to developing budgetary strategies and cost-saving measures. Additionally, the role involves supporting the planning, monitoring, and execution of budgets and expenses, including managing bank budgets and external funds. The Finance Associate will also be responsible for maintaining internal controls and compliance, managing financial reporting, and providing analytical support for decision-making processes.

Required Qualifications:
Candidates must possess a Bachelor's degree in Accounting, Business, Finance, Management, or a related field. Alternatively, a non-finance Bachelor's degree combined with a recognized accounting qualification such as CIMA Advanced Diploma in Management Accounting, ACCA Advanced Diploma in Accounting and Business, or an equivalent accounting certificate is acceptable. A minimum of one year of relevant experience in a finance or accounting role is required, with a proven track record of handling transactional-level financial work and supporting business decision-making through relevant analytics and advice. Candidates should demonstrate expertise in financial reporting, budget monitoring, and internal controls, as well as proficiency in relevant computer applications and systems, including Excel and PowerPoint. Experience with finance systems such as SAP and BW/AO is advantageous but not mandatory.

Educational Background:
The educational background required for the Finance Associate position includes a Bachelor's degree in a relevant field such as Accounting, Business, Finance, or Management. Candidates with a non-finance Bachelor's degree must also hold a recognized accounting qualification, such as the CIMA Advanced Diploma in Management Accounting or the ACCA Advanced Diploma in Accounting and Business. This educational foundation is essential for fulfilling the position-specific requirements and ensuring the candidate has the necessary knowledge and skills to perform effectively in the role.

Experience:
The position requires at least one year of relevant experience in a finance or accounting-oriented role. Candidates should have a solid understanding of financial principles and practices, with experience in handling transactional-level financial work. Familiarity with budget monitoring, financial reporting, and internal controls is essential. While experience with business areas inside and outside the bank is not mandatory, it is considered beneficial. The ideal candidate will have demonstrated working experience in accounting, bank reconciliations, procurement processes, vendor management, and internal controls.

Languages:
Fluency in English is mandatory for this position, as effective communication is crucial for collaboration and reporting. Excellent written and oral communication skills are required, along with a people-oriented approach. While proficiency in additional languages is not specified as a requirement, it may be considered an asset in supporting the organization's diverse client base and enhancing communication with stakeholders.

Additional Notes:
The Finance Associate position is a local recruitment opportunity with a term duration of three years. The role is full-time, and candidates are encouraged to apply regardless of their background, as the World Bank Group is committed to diversity and inclusion. The organization offers comprehensive benefits, including a retirement plan, medical, life, and disability insurance, as well as paid leave, including parental leave. Reasonable accommodations for individuals with disabilities are also provided. The World Bank Group emphasizes a culture of urgency, thoughtful risk-taking, empowerment, and accountability, and seeks candidates who align with these values.