World Bank

Senior Financial Assistant

World Bank

Job Description

Senior Financial Assistant

Job #: req10427 Organization: World Bank Sector: Finance & Accounting Grade: GD Term Duration: 3 years 0 months Recruitment Type: Local Recruitment Location: Chennai,India Required Language(s): English Preferred Language(s): Closing Date: 12/29/2020 (MM/DD/YYYY) at 11:59pm UTC Description

Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending Extreme Poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges.

Treasury is the Vice Presidency, reporting to the Managing Director and World Bank Group Chief Financial Officer, performing treasury functions for the IBRD and IDA and, to varying degrees, for other members of the World Bank Group and other public sector investors. Its activities are organized and grouped into the following departments: Capital Markets & Investment Management, Client Asset Management and Advisory, Treasury Client Solutions and Treasury Operations. Treasury (TRE) has been a large and significant player in the international financial markets for over seventy years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager.

Treasury is responsible for: (i) managing approximately $185 billion in assets for the World Bank and other official sector investors; (ii) leading IBRD's and IDA's triple-A rated financing programs in international and domestic bond and derivative markets; (iii) conducting asset and liability management for IBRD's and IDA's balance sheets; (iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and (v) collaborating with the World Bank member countries to help build their capacity. Staff in Treasury regularly interact and collaborate with other Departments across the Bank and Finance Partners teams. The Treasury Operations Department (TREOP) provides a full range of operational support for Treasury's asset management, capital markets and Banking businesses. The Department is presently organized in four operational units: Asset and Liability Operations (TREAL), Quantitative Solutions and Analytics (TREQA), Cash and Banking Operations (TREBK), and Financial Technology (TREFT).

Duties and Accountabilities:

The TRE Operations Chennai (TRECH) is an integral part of TRE and is responsible for a variety of duties providing vital support across its operational divisions. It works closely with the Headquarters in Washington D.C. Under the guidance and supervision of a Team Lead and/or Functional Lead, the Senior Financial Assistant will have responsibilities for specific individual tasks/projects as well as for working as an integral part of the team in executing TREOP's work program, while maintaining close relationships with the other Treasury departments. His/her primary responsibilities will include, but are not limited to, some combination of the following activities to support any of the business lines in TREOP's operational division: Cash Management:

Assist in daily cash planning for non-USD corporate cash - positioning of cash across corporate cash account in various currencies and working with TRE's Investments department to cover cash needs or place excess balances (cash planning for USD corporate cash may be required occasionally); Assist in timely funding of payment requests from Business Units across the Bank and processing of receipts to ensure the appropriate Business Unit is notified of incoming funds; Confirming and executing FX deals, and any related follow up with counterparties to resolve settlement issues; Reviewing and clearing all manual queues in the cash management system as required; Resolving any exception situations that may arise related to payments, receipts, FX or cash planning, working with more senior staff if needed; Executing transfers of funds between bank accounts as needed, or between ledger cash accounts to re-classify the nature of cash (e.g. capital funds to unrestricted funds); Liaising with HQ and various Business Units across the Bank and other departments in TRE to resolve issues or effect action; Processing of foreign exchange (FX) requests and, as needed, setting up related FX deals, including those to be traded with commercial counterparties in major currencies as well as those to be traded directly with a Central Bank for minor and exotic currencies.

Asset Management:

Perform various facets of post-trade/settlement activities for fixed income securities inclusive of bonds, futures, options, swaps, repo, money-market, and cash instruments; Perform trade investigation for failed trades and/or compensation claims; Perform collateral management activities, which may include calculating exposure, communicating with counterparties, and processing margin for affected accounts; Ensure executed trades are accurately captured and flow through trade systems accordingly; Perform daily trade and cash reconciliation for traded instruments ensuring the accuracy of holdings and cash movement/projections; and Coordinate with clearing brokers to confirm and reconcile daily future trades, pricing, and liquidations including initiating corrective actions.

Capital Markets:

Perform pre/post-settlements functions for the debt and derivatives portfolio; Perform new trade review / verification and assist in preparation of ISDA confirms based on trade tickets; and Perform rate fixing for structured and non-structured derivatives and support callable and non-callable derivatives transactions.

Selection Criteria

1. Bachelor's degree in Commerce, Accounting, Finance or Business Administration. Candidates with post-graduate degree in Finance would have an advantage.

2. 2 to 3 years of relevant experience in handling FX, payments and other cash management activities including some experience / background in operations and settlements of fixed income and/or capital market products.

3. An understanding of the cash management, asset management and capital markets industry practices and policies will be a plus.

4. Quick learner with high level of initiative, drive and attention to detail.

5. Proven problem-solving skills with capacity to multi-task, deliver high quality results and respond quickly and effectively to requests.

6. Excellent communication and presentation skills - both verbal and written.

7. Diplomacy and strong interpersonal skills with strong commitment to work in a respectful, team-oriented and multi-cultural work environment.

8. Flexibility to overlap with U.S. hours and work on U.S. holiday calendar will be required to meet reporting deadlines along with willingness to travel to Washington D.C. for training and team project.

9. The highest ethical standards.


Financial Market Literacy- Can understand financial market processes; reads and analyzes financial reports and data such as holdings, valuation, performance, compliance, account reconciliations, position, margin, and settlement and risk reports.

Client Services- Contributes successfully to on-site missions or workshops for Treasury clients.

Process and Infrastructure Development- Makes recommendations to improve efficiency of the accounting, business risk or operations process.

Operational Risk and Control- Understands the basic concepts of risk management and internal control frameworks.

Treasury Operations- Adept or expert in processing a suite of transactions such as bonds, FX, or structured transactions, or managing country or transactional bank accounts and reference data.

Client Orientation- Able to establish partnership based working relationships with internal/external clients. Demonstrates independence, initiative, and autonomy in addressing clients' needs.

Drive for Results- Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results and has the personal organization to do so.

Teamwork (Collaboration) and Inclusion- Collaborates with other team members and contributes productively to the team's work and output, demonstrating respect for different points of view.

Knowledge, Learning and Communication- Able to research and draft quality written materials or review adherence of written materials prepared by others to administrative requirements. Able to mentor and guide and organize learning activities within area of assigned responsibilities.

Business Judgment and Analytical Decision Making- Able to use analytical, problem-solving skills and resourcefulness to make informed and practical decisions to carry out own work. Able to advice on information usage and storage, and policies in the area of assigned responsibilities.

Poverty has no borders, neither does excellence. We succeed because of our differences and we continuously search for qualified individuals with diverse backgrounds from around the globe.
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