Description

IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org

The IFC Controllers Department is responsible for effectively and efficiently managing IFC’s Financial Operations (loan, equity and short-term finance operations, and back-office treasury support operations), Financial Reporting (including portfolio review, investment accounting and accounting policy), Internal Controls, and Financial Systems, Integration and Projects. The Department comprises approximately 130 diverse and highly skilled staff, based in Washington DC, and Chennai.

The Loan Operations unit (CNTLO) within the Controllers Department has overall responsibility for recording, servicing, and providing post-commitment support for the private sector loan, guarantee, short term finance products and programs of the International Finance Corporation.

The CNTLO unit provides financial operations support and services to the IFC Investment Departments, counterparts, internal and external financial and investment reporting units, syndication and treasury units, and portfolio management units, in the administration and management of all IFC Loan, Guarantee, Equity, and Donor-Trust Funds financial operations. The unit ensures that loan and guarantee agreements, and donor-trust-fund investments are recorded accurately and timely in the Corporation’s systems of record and general ledger. The unit supports all disbursements activities (e.g., call of funds, transfer of funds to clients, booking of disbursement data in systems of record) and all ongoing servicing functions over the life cycle of each investment, e.g. fee, interest and principal invoicing; repayment processing; specialized loan functions such as loan restructurings.

CNTLO is seeking an Extended Term Consultant (ETC) / Financial Operations Analyst based in Washington, DC.  The ETC will focus on the processing of debt and guarantee transactions and work on regular Loan Operations activities.

Duties & Responsibilities:

• Working closely with assigned business partners to ensure timely and accurate processing of debt and equity transactions across the lifecycle of the IFC investment (i.e. commitment, disbursement, servicing, and closing)
• Process and monitor transaction processing, perform reconciliation, and resolve issues in support of the unit operational activities, and in accordance with policies and procedures.
• Liaise with Investment Officers and downstream business partners (Portfolio Management, Accounting, Valuation, Risk, Treasury) to ensure projects are booked and processed accurately, and unique reporting requirements are met.  Respond to inquiries from internal/external staff and clients.
• Identify opportunities for improvements in current processes and support efforts to enhance controls.
• Demonstrate adequate accounting knowledge for loan/equity/guarantee investments.
• Provide operational support on accounting transactions and accounting schemas to ensure integrity of reporting in Financial Statements.
• Ensuring that technical accounting conclusions by the Investment Accounting unit for complex investment modification transactions are recorded accurately in the Loan system.
• Supporting the Team Lead in implementing and maintaining processes to identify, measure, monitor, mitigate, and report operational risk within the Loan and Equity team.
• Working independently under the general direction of the Team Lead.

Selection Criteria

• Bachelor(s) degree in Accounting, Finance, or a related field. Master’s degree, CPA, CFA or equivalent is advantageous.
• At least 3 years of relevant experience in accounting and pertaining to international financial instruments, loans and equity transactions, or equivalent combination of education and experience.  Private sector and/or IFC experience a plus.
• Working knowledge of one or more complex, highly integrated accounting systems, and financial reporting tools;
• Understanding of accounting concepts and knowledge of IFC’s Financial Products, a plus.
• Demonstrated high level of initiative, self-confidence and a self-starter.
• Diplomacy and strong interpersonal skills; commitment to work in a team-oriented, multi-cultural environment; detail oriented.
• Proven capacity to multi-task, deliver results and respond quickly and effectively to requests.  Ability and desire to meet tight deadlines.
• Ability to assist the development of IT projects, identify opportunities for automation and propose the right and sustainable solutions to improve operational efficiency;
• Excellent verbal and written communication and presentation skills.
• Highest ethical standards.

WBG Core Competencies

• Deliver Results for Clients – Achieves results and identifies mission-driven solutions.
• Collaborate Within Teams and Across Boundaries – Initiates collaboration across boundaries and broadly across WBG, and brings differing ideas into the forefront.
• Lead and Innovate – Develops innovative solutions with others.
• Create, Apply and Share Knowledge – Creates, applies and shares knowledge from across WBG to strengthen internal and/or external client solutions.
• Make Smart Decisions – Recommends and takes decisive action.

World Bank Group Core Competencies

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Learn more about working at the World Bank and IFC, including our values and inspiring stories.