Financial Officer

Job Posting Organization:
The World Bank is a vital source of financial and technical assistance to developing countries around the world. Established in 1944, the organization aims to reduce poverty and support development by providing loans, grants, and expertise to help countries implement projects that improve their economic prospects and quality of life. The World Bank operates in over 145 countries and has more than 182 offices globally, employing a diverse workforce that collaborates across cultures and disciplines to tackle pressing global challenges. The organization is committed to investing in people, strengthening markets, and delivering scalable, data-driven solutions that generate better jobs and improve lives.

Job Overview:
The Financial Officer position at the World Bank in Chennai is a critical role within the Financial Instruments Accounting and Valuation (CTRAC) team. This position involves acting as a technical lead responsible for project management, accounting, valuation, and reporting of financial instruments. The Financial Officer will engage with various stakeholders, including internal teams such as Finance, Treasury, and Corporate Finance, as well as external counterparts like Multilateral Development Banks (MDBs). The role requires a proactive approach to implementing institutional projects and business initiatives, translating new financial products into actionable processes, and ensuring compliance with accounting standards. The Financial Officer will also be responsible for managing user acceptance testing, reviewing accounting entries, and monitoring accounting and valuation results to align with business objectives.

Duties and Responsibilities:
The Financial Officer will have a comprehensive set of responsibilities, including leading and supporting the implementation of institutional projects and business initiatives. Key duties include translating new financial products into processes and system requirements, managing user acceptance testing for system releases, reviewing accounting entries, and ensuring control activities are performed regularly. The officer will identify and resolve system reconciliation issues, monitor accounting results, prepare financial reports, and interact with the World Bank Treasury to stay informed about new activities. Additionally, the role involves coordinating with auditors, exercising fiduciary responsibility, and continuously seeking opportunities to improve processes and internal controls. The Financial Officer will also maintain documentation and internal controls around the portfolios handled, ensuring efficiency and accuracy in operations.

Required Qualifications:
Candidates for the Financial Officer position must possess a Master's degree or equivalent in a relevant discipline such as Accounting, Finance, or Economics. Additionally, a professional finance/accounting qualification such as CA, CPA, ACCA, or equivalent, along with CFA or FRM, is required. The role demands a minimum of five years of relevant experience, particularly with major financial institutions, and practical knowledge of product control functions related to financial instruments. Proficiency in using the Murex system is essential, along with a strong understanding of fixed income and derivative products. Candidates should demonstrate strong analytical skills, familiarity with financial modeling techniques, and experience in integrated financial systems environments.

Educational Background:
The educational background required for the Financial Officer position includes a Master's degree in a relevant field such as Accounting, Finance, or Economics. Additionally, candidates must hold a professional finance/accounting qualification, which could include CA, CPA, ACCA, or an equivalent accounting qualification. Additional qualifications such as CFA or FRM are also preferred, indicating a strong foundation in finance and investment principles.

Experience:
The position requires a minimum of five years of relevant professional experience, particularly within major financial institutions. Candidates should have practical knowledge of product control functions, including accounting and valuation related to financial instruments. Experience with the Murex system is highly desirable, as is a demonstrated ability to perform analysis" style="border-bottom: 1px dotted #007bff !important;">financial analysis and reporting in an integrated financial systems environment.

Languages:
The mandatory language for this position is English, which is essential for communication within the organization and with external stakeholders. While English proficiency is required, additional language skills may be considered advantageous, particularly if they enhance communication with diverse teams and clients.

Additional Notes:
This position is classified as an Open-Ended Staff role, indicating that it is not tied to a specific contract duration and may offer long-term employment opportunities. The recruitment is localized, meaning that candidates should be residents of India. The World Bank Group provides a comprehensive benefits package, including a retirement plan, medical, life, and disability insurance, as well as paid leave, including parental leave. The organization is committed to diversity and inclusion, ensuring equal opportunities for all candidates regardless of gender, race, ethnicity, sexual orientation, or disability.