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 Vice Presidency for Corporate Support (COSVP) integrates Budget and Business Administration, HR, Communication, Partnerships, and Information & Technology functions under one umbrella to enable execution of IFC’s management and operational needs in the best way. Within COSVP, Budget and Business Administration department (CBA) plays a pivotal role in allocating IFC scarce resources and aligning them to IFC 3.0 by leveraging budget as a management tool to mainstream the corporate strategy, creating profitability and efficiency metrics, improving the scorecard, and overseeing procurement and facilities administration.

CBA is seeking a qualified candidate to support the CBA Administration (CBAAD) work program. The work program includes several diverse components covering oversight of IFC-IBRD Share Service Agreements (SSAs), Policies and Procedures, Centralized Country Office Overheads Budget, Investment Services Reimbursables, Financial Support Services and Administration. CBAAD delivers in these areas a wide range of activities from planning, monitoring, and forecasting to billing, transaction processing, internal controls and outreach. All this, while building partnerships across CBA and World Bank Group and seeking to strengthen and standardize its processes, enhancing communication and information sharing with the partners we collaborate to deliver.

Duties and Accountabilities:

The candidate will be responsible for coordinating and implementing the work program for the Centralized Country Overhead Budget in close partnership with IFC regional teams and CBARE. The candidate will coordinate and implement the activities in support of IFC’s Shared Service Agreements (SSAs), Policies and procedures and will support special initiatives in the Investment Reimbursable Team. Key tasks and responsibilities include:

Country Office Overheads

• Effectively provide budgeting, analytics and communication support for centralized Country Office overheads budget in close partnership with IFC Regional Finance teams, Real Estate team, Central Budget team and other stakeholders.
• Provide guidance to Regional Finance teams and CBARE on process and expectations of the centralized Country Office Overhead budget.
• Seek opportunities to improve the process aiming for standardization to enhance ability to consolidate meaningful and comparable information. Engage proactively with Regional Finance teams seeking their input in a collaborative approach to define changes.
• In coordination with the Region Finance teams, provide consolidated review and analysis during the corporate budgeting W process and budget allocation process.
• Coordinate with the Regional Finance teams, the quarter forecasting process and provide consolidated review and analysis using BPC, AO, SAP and Excel to do trend analysis and derive insights from data. Collaborate with Regional Finance teams to understand drivers of the cost and address any questions.
• Monthly and Quarterly review of expenses and trends against forecast and YOY analysis.
• Coordinate process to monitor expenses charged to Country Office Centralized Overheads for eligibility and the resolution of ineligible expenses. Aim to increase awareness in Regional Finance teams.

Shared Service Agreements (SSAs)

• Oversee, review and monitor SSA agreements with IBRD
• Ensure implementation of SSAs costing methodology and governance framework
• Coordinate SSA annual planning cycle and provide budgetary inputs to W process
• Coordinate periodic projection exercise and provide budgetary inputs to the quarterly projection exercise
• Coordinate and monitor monthly payment and of year settlement
• Coordinate annual year end true-up process
• Central projection, reporting and analysis
• Establish rhythm to collect KPIs agreed in the SSA, review and highlight any major observations
• Establish ongoing engagement with the different stakeholders: business partners, client facing budget officers in IFC and IBRD and BPS SSA Coordination.

Policies & Procedures

• Lead IFC Budget Manual update with close collaboration from multiple business subject experts and support its final roll-out with strong communication plan.
• Support updating selected IFC guidance, policies, and procedures by working with relevant stakeholders, aiming to bring clarity, provide update-to-date policy for budget and business management, promote knowledge sharing. Provide clear communication and clear presentation in support of decision making and change management.
• As a key business partner, support CBA Budget Helpdesk roll out on budget policies and procedures scope.

Investment Reimbursable Budget

• Support the Central Billing team efforts by providing data analysis, testing and presentation support in support of initiatives such as:
• Implementation of enhancements and bug fixes to the reimbursable system FAMS
• Standardization of Reimbursables Reporting
• Increase awareness and knowledge of the Reimbursables Procedure through outreach of the team to our partners in the budget network via trainings, documentation, etc.

Selection Criteria

• Bachelor’s degree in Accounting, Finance, Business or Economics with at least 4 years of working experience preferably in areas of budget administration, financial planning & analysis, financial consulting or financial accounting.
• Recognized professional accreditation (CPA, CFA, CMA, CIMA, ACCA, etc.) is a plus.
• Sound knowledge and understanding of accounting theory, concepts and principles, financial accounting reporting, cost allocations and internal controls.
• Diligence and attention to details.
• Advanced problem solving, analytical skills.
• Ability to analyze and synthesize information, interpret data, retrieve information and clearly and concisely communicate results.
• Advanced Excel skills. Proficient in other Microsoft Office tools particularly PowerPoint and Word.
• Experience working in planning system such as BPC and reporting toolsets such as Power BI and AO.
• Working knowledge of SAP processes, transactions, and reports.
• Effective communication skills with the ability to prepare, present and discuss findings in written or oral form. Strong written and verbal communication skills in English are required.
• Ability to coordinate multiple stakeholders, manage multiple, concurrent tasks with tight deadlines.
• Excellent interpersonal, teamwork and communication skills.
• Ability to work collaboratively in a fast-paced, internationally diverse work environment.

World Bank Group Core Competencies

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