Extended Term Temporary (ETT)

Job Posting Organization:
The World Bank (WB) is a prominent global institution established to provide funding and knowledge to developing countries. It is a unique partnership comprising five institutions: IBRD, IDA, IFC, MIGA, and ICSID, all dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development. With 189 member countries and over 120 offices worldwide, the World Bank collaborates with both public and private sector partners to invest in innovative projects and leverage data, research, and technology to address pressing global challenges. The organization is committed to fostering a sustainable and livable planet for future generations, making it a vital player in international development.

Job Overview:
The Extended Term Temporary (ETT) position at the World Bank in Chennai is integral to the Loan Accounting Division (WFALA) within the Finance & Accounting (WFA) Vice Presidency. This role involves managing accounting and reporting functions for the Bank's loan business, ensuring accuracy and completeness in financial reporting. The ETT will engage in daily accounting activities, respond to queries regarding loan information, and contribute to process improvement initiatives. The position requires collaboration with external auditors and involves monitoring and resolving discrepancies in financial data. The ETT will also play a crucial role in supporting the lifecycle of loan products, from design to implementation, thereby contributing to the overall efficiency and effectiveness of the loan portfolio management.

Duties and Responsibilities:
The ETT will be responsible for a variety of tasks including:

• Ensuring the accuracy, appropriateness, completeness, and control of information related to the Loan portfolio by carrying out day-to-day accounting and reporting functions.
• Managing loan master data initiation and maintenance, loan lifecycle accounting, and financial reporting while adhering to established policies and procedures.
• Monitoring and resolving inconsistencies in master data and general ledger through the use of exception reports.
• Conducting periodic reviews of financial results to identify trends and assess account balances, leading to sign-off on data accuracy.
• Providing metrics and charts on financial accounting activities for departmental operations reports.
• Assisting external auditors by supplying necessary documentation for financial statements in coordination with Country Offices.
• Responding to inquiries regarding loan information and financial reporting requirements.
• Contributing to continuous improvement initiatives aimed at enhancing loan processes and controls.
• Actively participating in institutional projects related to loan accounting and reporting.

Required Qualifications:
Candidates must possess a Chartered Accountant qualification and a Bachelor's degree in Finance, Accounting, or a related discipline. A minimum of 0-1 year of post-qualification experience is required, with exposure to integrated accounting systems being highly desirable. Candidates should demonstrate strong attention to detail and numerical accuracy while managing multiple tasks and projects. Good written and oral communication skills in English are essential, along with strong computer skills and a basic understanding of information systems and newer technologies.

Educational Background:
The position requires candidates to have a Chartered Accountant qualification along with a Bachelor's degree in Finance, Accounting, or a relevant field. This educational background is crucial for understanding the complexities of financial reporting and accounting practices within the context of the World Bank's operations.

Experience:
The ideal candidate should have a minimum of 0-1 year of post-qualification experience in finance or accounting. This experience is essential for understanding the day-to-day accounting functions and reporting requirements associated with the loan portfolio management at the World Bank. Familiarity with integrated accounting systems will be an added advantage, as it will facilitate smoother operations within the role.

Languages:
Proficiency in English is mandatory for this position, as it is the primary language of communication within the World Bank. While no additional languages are specified as preferred, having knowledge of other languages could be beneficial in a multicultural work environment.

Additional Notes:
This position is a one-year appointment, with the possibility of renewal at the discretion of the World Bank Group. The maximum duration for Extended Term Temporary appointments is three years. If an appointment ends before a full year, it will still count as a full year towards this maximum. The World Bank Group is committed to diversity and inclusion, ensuring equal opportunities for all candidates regardless of gender, identity, religion, race, ethnicity, sexual orientation, or disability. The role is classified under local recruitment, indicating that it is intended for candidates residing in the local area.