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 2023, IFC committed a record US$43.7 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 reporting and analysis, portfolio review, investment accounting and accounting policy), Internal Controls, and Financial Integration, Systems and Projects. The Department comprises approximately 140 diverse and highly skilled staff, based in Washington DC, and Chennai.

The Reporting and Analysis unit (CNTRA) within the Controllers Department is responsible for preparing timely and accurate periodic financial reporting to internal and external stakeholders and facilitating the external audit and issuance of audit and review opinions by the external auditors on IFC’s annual and quarterly financial statements. The CNTRA unit provides assurance on the integrity of the financial ledgers and financial information. Unit is responsible for coordination of the monthly closing process, including advising and liaising with the decentralized accounting business units. Reporting and Analysis team also work with other units in determining the impact of new and proposed accounting standards and new complex transactions in Financial Statements and Management reports.

IFC Controllers Department is seeking an Extended Term Consultant in the CNTRA unit in Washington DC to help support across all functions described above, including the preparation of IFC’s quarterly and annual financial reporting, perform analytical review of business unit results for management reporting, creation of efficiencies through automation and streamlining of deliverables, participating in testing and implementation of new enhancements, and supporting the development, execution, and delivery of ESG related disclosures.

The successful candidate is expected to have exposure to accounting developments and be proactive in responding to the rapidly changing accounting and business environment. The selected candidate will be required to work across team functions and become a fully functional team member within a short timeframe. He /She should be able to establish productive relationships with staff at all levels within the team and across various units of IFC.

Duties & Responsibilities:

The Consultant will work as part of a team of professionals to fulfill IFC Financial Reporting team’s mandate. This role requires frequent interaction with internal counterparts in Controllers and outside of Controllers in IFC, WBG Finance and Accounting (WFA), Information Technology, Internal Controls and the external auditors. Her/his tasks and responsibilities will include but are not limited to.

• Support the monthly closing process, including reviewing financial results for reasonableness, and performing other control activities.
• Assist with the preparation, review, and filing of the quarterly and annual Management Discussion and Analysis (MD&A)   and financial statements, including disclosures and various Management reports.
• Perform analytical reviews, including researching and documenting significant fluctuations in balance sheet and income statement accounts, performing reasonableness checks, and other ad hoc analysis.
• Perform analyses of the impact of market movements (i.e., interest rates, exchange rates, etc.) on the IFC’s portfolios / financial instruments (e.g., IFC debt portfolio, equity investments, borrowings, and liquid assets).
• Develop and implement automation solutions to streamline and enhance our financial closing and reporting processes.
• Collaborate with cross-functional teams, including IT, Finance, and Compliance, to ensure alignment and integration of automation initiatives.
• Participate in the testing and implementation of new features or enhancements to existing accounting and reporting systems.
• Support the implementation of ESG related disclosures across business units and departments, including impact assessment, gap analysis, project planning and management.  Coordinate across the ESG teams as needed to advise and source relevant and timely information for inclusion in ESG-related disclosures, which may involve assessment of data quality and control environment.
• Work on ad hoc task assigned by Supervisors to meet any urgent deliverables.

Selection Criteria

• Qualified Accountants (CA/CPA/ACCA).  Advanced degree in a related field.
• Minimum of 5   years of post-qualification experience in similar or complementary roles is required.
• Strong background in Office 365 products & relevant experience of scripting languages would be preferred.
• Experience in providing low code/no code solutions by leveraging technology for working with large database coming from multiple systems
• Knowledge and experience with US GAAP/IFRS with specific regards to financial products (e.g., loans, equity investments, bonds, swaps, options), product life cycles and legal structures that may have accounting ramifications would be a plus.
• Excellent analytical skills.  The ability to develop and apply methodologies to test and explain changes in financial trends and results using computer assisted techniques.
• Understand accounting information flows across multiple systems (corporate centralized databases, accounting subsystems and general ledger, MIS etc.)
• Ability to work across organizational boundaries and to function effectively both as a member of a team and individually as required.
• Strong written and oral communication skills.
• Demonstrated ability to learn new technology quickly and effectively use it for maximum productivity. 

World Bank Group Core Competencies

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