Senior Accounting Assistant-US Tax
Chennai, India
Chennai, India
JOB DETAIL
Description
The World Bank Group (WBG) is one of the world’s largest sources of funding and knowledge for developing countries. It uses its financial resources and extensive experience to help its client countries reduce poverty, and address pressing social and economic challenges. To ensure that countries can access the best global expertise and help generate cutting-edge knowledge, the WBG is constantly seeking to improve the way it works. Innovation and partnership are central to the five institutions of the WBG: The International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). For more information, visit www.worldbank.org
The World Bank Group Finance & Accounting Vice President Unit
The World Bank Group Finance & Accounting (WFA) Vice Presidential Unit is responsible for all aspects of the corporate reporting and internal control framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA) and the extensive Trust Fund/Partnership portfolio of these entities. WFA also leads the client shared service function for the WBG corporate expenses and WBG trust funds, ensures fiduciary responsibility for all disbursements related to Bank operations.
WFA has three departments – WFA Corporate Accounting & Reporting (WFACA), WFA Financial Controls (WFAFC), and WFA Trust Funds & Loans (WFATL) – that each carry out a specific range of functions and corresponding activities and interact with a broad range of stakeholders across the WBG that enable it to fulfill its various responsibilities.
The WFA Financial Controls (WFAFC) department is responsible for providing corporate accounting services for the WBG entities. Activities include quality assurance, accounting, oversight and reporting of administrative transactions, managing various payment mechanisms to support payments to staff and vendors including the global payments program and global travel cards for WBG, and managing the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) program (for the Bank). The department consists of three divisions – WFA Accounts Receivable, Payroll and Tax (WFAPT), WFA Accounts Payable, Travel and Quality Assurance (WFATA) and WFA Country Office Accounting and Ask Accounting (WFACO) – with three separate managers.
Unit and Tax Team Overview
WFA’s Accounts Receivable, Payroll and Tax division (WFAPT in HQ and WFAPA in Chennai), part of the Financial Controls Department, will be responsible for ensuring that (i) accounts receivable are recorded, monitored and collected in a timely and efficient manner, (ii) salary and benefit payments to the WBG staff are processed in a timely and efficient manner, and (iii) tax allowances to the WBG staff and retirees are processed in a timely and efficient manner. It also provides strategic leadership and guidance to business units across the WBG on developing and maintaining an effective system of internal controls over AR, payroll, and tax.
The Tax team in WFAPT administers tax allowances on World Bank Group compensation and tax supplements on Net Staff Retirement Plan pension payments in accordance with tax laws and WBG policies. Among other responsibilities, the Tax team is involved in the development and modification of tax policy, manages the Tax Allowance Budget, executes all tax payments, monitors corresponding financial data and actively participates in discussions and decisions on tax matters relating to the World Bank Group compensation and pension. The Tax team is also involved in the research of national tax laws and evaluation of World Bank Group agreements with member countries to determine the tax implications on World Bank Group emoluments and pension. Additionally, the Tax team ensures that the tax allowance/supplement policies are applied to staff members on a consistent and equitable basis.
Duties & Accountabilities:
The Senior Accounting Assistant’s responsibilities includes but not limited to the followings:
• Process U.S. tax allowance via PeopleSoft Tax Allowance system. This includes, but is not limited to, verify and analyze quarterly tax allowance calculations/payments and prior year tax allowance reconciliations;
• Manage U.S. citizen staff tax transactions, verifying their status through HR-PeopleSoft, their payroll earnings through Payroll-PeopleSoft and any other non-payroll taxable earnings through SAP-AP, to ensure that earnings are in accordance with the Bank Staff Rules, to quality check their integrity and accuracy and to ensure that they are included in the tax allowance calculations in accordance to Staff Rule 6.04;
• Verify tax certificates submitted by staff (Form 70) in order to determine current year tax allowances and necessary adjustments to prior tax allowance payments;
• Manage Safety Net transactions, analyzing the tax returns against the World Bank Group Tax System considering Bank Group policy and IRS and state tax regulations;
• Monitor the Tax exception reports to detect anomalies in the tax allowance payments that require research and correction;
• Analyze/research/act on requests/queries related to tax allowance payments, earnings and deductions, engaging in discussion as needed to understand and determine actions required.
• Provide support to staff by responding and managing Tax Office phone calls and emails queries
• Coordinate tax allowance related matter with overseas staff who are either on extended or short-term assignments,
• Identify process improvements, participate in Tax-related projects, and provide testing support for the system enhancements.
• Review and update the procedure manuals as and when required.
Selection Criteria
• Bachelor’s degree (Finance, Accounting, and Business Administration); Professional qualification (CPA, CA) or IRS Enrolled Agent would be an added advantage
• Training in accounting and finance with three years of relevant work experience and a minimum of 2-year experience in preparation of individual tax returns and gross-up/tax equalization calculations for U.S./Non-U.S. assignees of multinational corporations
Core Technical Knowledge:
• Strong knowledge of tax calculation, impact of different calculation elements in final tax allowance results,
• Thorough understanding of U.S. Accounting Standards and Generally Accepted Accounting Principles,
• Experience in financial data verification utilizing accounting systems,
• Proficiency in Microsoft Windows applications, namely Excel, Word and Power Point, including advanced spreadsheet design, manipulation, and analysis skills.
• A proven track record of problem-solving in an automated accounting environment; experience with SAP, PeopleSoft system is desirable, but not required.
• Strong client focus, flexible, and excellent team player.
• Demonstrated ability to learn new technology quickly and effectively use it for maximum productivity.
• Strong communication skills with the ability to prepare present and discuss findings in written and oral form.
• Outstanding interpersonal skills with the ability to collaborate and deal with tact with staff at all levels.
• Proven ability to multi-task, meets tight deadlines, and attention to details.
• Ability to deal sensitively in multi-cultural environments and build effective working relations with clients and colleagues.
• Meet WFA Core Competencies at GD level (given below):
WFA Core Competencies:
• Deliver Results for Clients – Takes full ownership to address client needs. Demonstrates initiative, independence and autonomy in addressing client needs in changing business contexts and environments. Has knowledge of department strategy, vision, and goals and can link them to those of the larger organization. Allocates and prioritizes resources according to areas of most urgent need and greatest impact for the client.
• Collaborate within Teams and Across Boundaries – Contributes to wider collaborative efforts. Adopts a collaborative approach to improve overall effectiveness outside one’s department and displays an open helpful attitude toward others. Approaches conflicts as common problems to be solved. Demonstrates understanding of and acts to incorporate multiple perspectives. Frames thinking/actions with a WBG corporate perspective in mind.
• Lead and Innovate – Initiates changes to work processes to improve efficiency and performance. Applies creativity, flexibility and persistence to develop new approaches. Considers own behavior in context of WBG’s values and mission and recognizes impact on others. Frames problems and recommends solutions.
• Create, Apply and Share Knowledge – Actively promotes knowledge-sharing. Takes ownership for organization of knowledge-sharing and learning activities. Contributes to the knowledge of the work group and beyond. Uses feedback to develop self and mentor others. Builds personal and professional networks within and beyond the work group.
• Make Smart Decision – Analyzes data to support and enable decision-making. Anticipates, researches, reviews, and analyzes available data and relevant empirical evidence, including lessons learned. Understands risk and can provide basic assessment using cost-benefit analysis. Uses critical thinking and good judgment to make decisions. Supports decisions, takes action and ensures appropriate follow-up actions are taken.
• Client Understanding and Advising – Looks at issues from the client’s perspective and takes action beyond normal expectations to ensure client satisfaction. Analyzes situations and determines alternative or creative scenarios and approaches to add value to the business in new and different ways. Works within the team and with other specialty areas to define client needs and develop the best approach to meet client needs. Sees how ideas and best practices from other specialties can be adapted or applied to address client issues.
• Broad Business Thinking – Keeps informed on business operations. Inquires about the relationship of delivered support/services to the business as it pertains to assigned area of responsibility and related projects. Seeks out relevant information related to clients from available sources including supervisors, peers, clients, intranet/Internet, and documentation. Provides a business-based rationale for determining the necessity of incremental improvements and communicates viewpoint using the client’s own terminology with limited jargon
• Project Management – Sets personal objectives and goals and manages use of own time. Works towards accomplishing own daily, weekly and annual objectives. Learns from mistakes, and adjusts goals and courses of action to meet changing needs. Sets priorities for his/her work in order to stay on top of the workload and tackle the most important issues first. Considers work/project timelines and the time it takes to get things done. Sets priorities, properly plans, keeps track of activities completed and in progress, and keeps clear, detailed records of activities related to accomplishing stated objectives, arrangements, etc.
• Analytical Thinking – Gathers and links data. Reviews for non-conformity and gathers further information in response to problems. Collates and reports information. Identifies direct cause-and-effect relationships. Identifies trends and exceptions. Investigates to define problems more accurately. Sorts information in order of importance. Identifies relationships and linkages between components. Identifies variable potential causes and effects. Solicits guidance to define criteria and assign values of importance and urgency. Escalates issues of both a routine and exceptional nature.
• Policies and Procedures – Exhibit working knowledge of policies and procedures applicable to carrying out daily responsibilities. Abide by relevant policies and procedures in completing various tasks. Demonstrates knowledge of the most used policies and procedures and applies them when situation is clear and lacks problems. Can exercise independent judgement regarding relevant policies and procedures.
• Risk and Controls – Demonstrate understanding of key risks and internal control procedures in the related processes. Able to identify key risks and mitigating control steps in own functional areas. Perform internal control procedures in compliance with the overall risk and control framework. Takes proactive measures to know the internal control procedures (e.g., talks with business leaders about their goals and priorities)
• Information Technology and Systems – Exhibit working knowledge of key information technology and main systems in own function areas. Effectively utilize such technologies and systems to successfully carry out work programs.
• Communication – Express and exchange information in a clear and concise manner (Writes clearly and concisely simple work related documents). Listen actively and confirm understanding. Recognize own biases and assumptions and make an effort to understand the impact of others’ cultural norms on communication styles. Contribute to a transparent and engaging work environment by sharing views and ideas openly and professionally. Uses clear and easily understood writing styles when communicating technical information to non-technical individuals. Understands that different writing styles are required for different documents or audiences.
WFAPT is committed to achieving diversity in terms of gender, nationality, culture and educational background. Individuals with disabilities are equally encouraged to apply.
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.
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