Finance & Budget Officer

Job Posting Organization:
The World Bank Group (WBG) is a prominent global partnership consisting of five institutions dedicated to addressing the most pressing development challenges faced by countries around the world. Established with the mission to end extreme poverty and promote shared prosperity, the WBG operates in 189 member countries and has over 120 offices globally. The organization plays a crucial role in providing funding and knowledge to developing nations, facilitating groundbreaking projects, and leveraging data, research, and technology to create sustainable solutions for urgent global issues. The WBG is committed to fostering collaboration between public and private sector partners to achieve its goals, making it one of the largest sources of financial assistance and expertise for developing countries. For more information, visit www.worldbank.org.

Job Overview:
The Finance and Budget Officer position at the World Bank Group is a critical role within the Fund for responding to Loss and Damage (FRLD) Secretariat, which is hosted by the World Bank in Washington, D.C. This position is designed for individuals who are passionate about contributing to climate finance and international development. The Finance and Budget Officer will be responsible for a variety of financial management tasks, including budgeting, financial reporting, and monitoring. The role requires collaboration with various stakeholders, including Board members and civil society, to ensure effective financial oversight and compliance with World Bank policies. The officer will report directly to the Program Manager – Budget and Financial Management and will play a key role in supporting the strategic activities of the FRLD, which aims to assist developing countries vulnerable to climate change. This position may also involve occasional travel, providing opportunities for engagement with international partners and stakeholders.

Duties and Responsibilities:

• Budgeting, Financial Reporting, and Monitoring: The Finance and Budget Officer will collect, consolidate, and reconcile budget inputs from various Secretariat units, preparing comprehensive draft budgets for review. They will support the drafting of the Secretariat’s Workplan in alignment with the Administrative budget and prepare periodic financial reports and statements, including monthly budget execution reports for the Board and other stakeholders. The officer will track variances against approved budgets, flag deviations, and maintain up-to-date financial records. Additionally, they will support the design and development of financial dashboards to aid in data-driven decision-making.
• Trust Fund Financial Management and Systems: The officer will assist the Program Manager and the Director as Task Team Leader (TTL) of the Administrative Trust Funds in setting up and maintaining FRLD Trust Fund financial systems in accordance with World Bank policies. They will provide operational support on financial management, including cost planning, fund allocation tracking, and performance monitoring.
• Policy Compliance and Process Optimization: The Finance and Budget Officer will ensure compliance with World Bank policies and procedures in financial and fiduciary management, contributing to the evaluation and improvement of financial management processes related to FRLD trust funds.
• Stakeholder Coordination and Board Support: The officer will support the Program Manager in liaising with various World Bank units and stakeholders to facilitate coordination on trust fund and financial management matters. They will assist in preparing documentation for the Board and Budget Committee, including drafting papers and conducting technical briefings as needed.

Required Qualifications:
Candidates for the Finance and Budget Officer position must possess a Master's degree in Finance, Accounting, Economics, Business Administration, or a related field. Professional certifications such as CA, ACCA, CPA, or CIMA are considered strong assets. The selected candidate should have a minimum of 5 years of progressive experience in financial management, budgeting, or accounting, preferably with exposure to trust funds, climate finance, and/or international development financing in complex institutional environments. Solid knowledge of financial management processes, budget preparation, and fiduciary responsibilities is essential, along with demonstrated experience with financial reporting systems and tools such as SAP, Excel-based models, or Power BI.

Educational Background:
The educational background required for the Finance and Budget Officer position includes a Master's degree in a relevant field such as Finance, Accounting, Economics, or Business Administration. Additionally, professional certifications like CA, ACCA, CPA, or CIMA are highly regarded and can enhance a candidate's qualifications for this role.

Experience:
The position requires a minimum of 5 years of progressive experience in financial management, budgeting, or accounting. Candidates should ideally have experience working with trust funds, climate finance, or international development financing, particularly in multilateral or complex institutional settings. This experience is crucial for understanding the intricacies of financial management within the context of the World Bank's operations.

Languages:
The mandatory language for this position is English. Proficiency in additional languages is considered a plus, although specific preferred languages are not mentioned in the job description.

Additional Notes:
This position is classified under the GF grade and has a term duration of 2 years. It is part of an international recruitment effort, indicating that candidates from various countries are encouraged to apply. The World Bank Group offers a comprehensive benefits package, including a retirement plan, medical, life and disability insurance, and paid leave, including parental leave. The organization is committed to diversity and inclusion, ensuring equal opportunities for all applicants regardless of gender, race, ethnicity, sexual orientation, or disability.