Finance Associate

Job Posting Organization:
The World Bank Group (WBG) is a prominent global partnership consisting of five institutions dedicated to ending extreme poverty and promoting shared prosperity. Established with 189 member countries, the WBG operates more than 120 offices worldwide, making it one of the largest sources of funding and knowledge for developing countries. The organization collaborates with public and private sector partners to invest in innovative projects and leverage data, research, and technology to address urgent global challenges. The WBG's mission is to provide financial and technical assistance to developing countries, helping them to improve their economic prospects and quality of life for their citizens. For more information, visit www.worldbank.org.

Job Overview:
The Finance Associate (FA) position is integral to the Country Office Accounting workstream within the World Bank Group's Budget and Procurement Solutions Vice Presidency (WPB VPU). The FA is expected to be a specialist in accounting, analytics, controls, processes, and procedures, providing essential support for daily accounting and financial transactions. The role involves delivering timely and relevant information to facilitate effective decision-making regarding financial resources. The Finance Associate will work closely with various departments to ensure cost efficiency and effective controls over financial transactions, thereby supporting the overall mission of the World Bank Group. The FA will also be responsible for providing expert advice to stakeholders, ensuring that financial operations align with best practices and organizational goals.

Duties and Responsibilities:
The Finance Associate will have a diverse set of responsibilities, including but not limited to:

• Financial Transactions & Payments: Reviewing and processing E-payable transactions, payroll inputs, staff loans, travel and rental advances, and vendor payments, ensuring accuracy in charge codes, bank accounts, tax treatment, and supporting documentation. Conducting payment runs and addressing compliance queries.
• Budgeting, Cash Management & Financial Reporting: Preparing monthly expense forecasts, budget reports with variance analysis, and bank reconciliations; monitoring and replenishing country office bank accounts; submitting VAT refund claims and resolving outstanding items.
• Procurement & Vendor Management: Monitoring purchase orders, STC transactions, and vendor open items through the admin portal, overseeing rental contracts in PeopleSoft for timely resolution of outstanding items.
• Internal Controls, Compliance & Risk Management: Maintaining effective financial controls through oversight of corporate cards, asset inventory, signatory management, contract monitoring, record retention, account reconciliations, and timely resolution of audit and compliance-related matters.
• Business Advisory & Staff Support: Providing guidance to the Country Manager and business area staff on WBG financial, administrative, and benefits policies, onboarding new staff on finance systems and related procedures.
• Reporting, Audit & Process Improvement: Responding to Scorecard and audit queries, ensuring orderly filing of transaction documentation, and supporting process harmonization, automation, and continuous improvement initiatives.

Required Qualifications:
Candidates must possess a minimum of a bachelor’s degree in accounting, business, finance, or a relevant discipline. Alternatively, a non-finance bachelor’s degree combined with a CIMA Advanced Diploma in Management Accounting, ACCA Advanced Diploma in Accounting and Business, or an equivalent country-level accounting certificate is acceptable. Additionally, candidates should have at least one year of relevant experience in a comparable accounting or finance-oriented role. A good working knowledge of budget and finance systems, particularly SAP, Power BI, BW/AO, and BPC, is preferred. Knowledge of external funds policies and procedures is desirable, along with experience in requirements gathering, business analysis, and critical thinking to analyze complex problems and pursue efficiency improvements.

Educational Background:
The educational background required for this position includes a bachelor’s degree in accounting, business, finance, or a related field. Candidates with a non-finance degree must have additional qualifications such as a CIMA Advanced Diploma in Management Accounting, ACCA Advanced Diploma in Accounting and Business, or an equivalent accounting certificate recognized at the country level. This educational foundation is essential to fulfill the specific requirements of the Finance Associate role effectively.

Experience:
The position requires at least one year of relevant experience in an accounting or finance-oriented role. Candidates should demonstrate a track record of handling transactional-level financial and accounting work, supporting business decision-making through relevant analytics and advice. Experience with financial reporting, budget monitoring, and internal controls is crucial, as well as familiarity with procurement processes, vendor management, and accounting practices. Proficiency in using financial management systems and reports, particularly SAP, BW/AO, and comparable systems, is also necessary.

Languages:
Fluency in English is mandatory for this position, as effective communication is essential for collaboration and reporting. While English is the primary language required, knowledge of additional languages may be considered an asset, particularly in enhancing communication with diverse stakeholders and partners.

Additional Notes:
This position is a local recruitment opportunity with a term duration of three years. The World Bank Group emphasizes the preference for local talent, meaning applicants must be authorized to work in the duty station for any employer. The organization offers comprehensive benefits, including a retirement plan, medical, life and disability insurance, and paid leave, including parental leave. The WBG is committed to being an equal opportunity and inclusive employer, ensuring a diverse workforce and a workplace free from discrimination based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.