E T Consultant – Treasury Support Operations
Chennai, India
JOB DETAIL
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. Our mission is to leverage the power of the private sector to end extreme poverty and boost shared prosperity on a livable planet. 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 130 diverse and highly skilled staff based in Washington DC and Chennai.
The IFC Controller’s Treasury Support Operations Division (CNTTR) provides back-office and accounting services for all IFC Treasury activities. CNTTR also provides operational support in developing IFC Treasury’s new business initiatives and products. The CNTTR team is in Washington, DC (HQ) and Chennai (India) and delivers its work program on a cross-support basis. The team providing cross-support interacts with colleagues in Washington on a day–to–day basis and ensures that the support operations are successfully delivered. The units play a key role in the decision-making for and implementation of IT systems and upgrades, as well as in implementing new initiatives and financial products to ensure that data is recorded accurately and timely.
CNTTR has co-located some aspects of its work program to IFC’s Chennai Office (CNTCO), which has recruited staff in the IFC Financial Operations Support team (CNTTS) to deliver this work program. The team provides support and interacts with IFC colleagues in Washington on a day–to–day basis. The IFC Controllers Department is seeking a Financial Operations Analyst for Chennai’s IFC Treasury Support Operations unit (CNTTS). This technically specialized position will support the processing operations of Treasury transactions, including bonds, derivatives, etc. The position requires a working knowledge of treasury products and relevant accounting standards and proficiency in handling multiple systems, including Summit (the front-to-back treasury system), payment processing systems, etc. The selected candidate will be required to work with various team functions and become a fully functional team member within a short timeframe. The position requires establishing productive relationships with staff at all levels within the team and across various units of IFC.
The Consultant will report to the Team Lead of CNTTS – Treasury Operations in Chennai. The individual must be a self-starter in identifying and undertaking projects or initiatives. The Consultant should be open to flexible hours and follow the Washington D.C. (HQ) holiday calendar, as the work program involves dealing with global markets.
Roles and Responsibilities
The Consultant is a key team member who provides operational support for the IFC’s Treasury operations. This role requires frequent interaction with internal counterparts in CNT, the Treasury Middle Office, Internal Controls, and external auditors.
• Perform trade verification and settlement activities for Treasury transactions, including but not limited to bonds, futures, options, swaps, repos, money-market, and other cash instruments
• Carry out processing and validation activities for ISDA contracts for OTC derivatives
• Perform trade servicing activities, including flow analysis, validation and processing, reconciliation, and troubleshooting of the settlements
• Build and sustain effective relationships with internal and external partners and clients, including market counterparts, custodians, agents, and banks
• Prepare and process a suite of SWIFT messages that support Treasury transactions
• Perform transaction analysis and propose system updates for operations and reconciliation activities
• Investigate and close out all unresolved settlement discrepancies
• Participate in testing and implementation of new/enhanced systems and processes
• Ensure documentation of and compliance with all business processes in the unit
• Act as a backup in the absence of other Treasury Support Unit staff, as and when required
• Report, investigate, and close out all unapplied funds in collaboration with IFC business units and correspondent banks
• Perform overdraft reporting and bank charges analyses
• Review all incoming SWIFT inquiries and take appropriate actions; respond to all inquiries promptly and professionally
• Working knowledge of cash application and Quantum application is a plus
Selection Criteria
• Bachelor’s Degree, preferably majoring in business administration, accounting, finance, or international trade finance
• Accounting Certification such as CA or CPA would be a plus
• Minimum 2 to 4 years of relevant experience in related fields with a public/private financial institution
• In-depth knowledge of treasury, back-office processes, controls, and reporting
• In-depth knowledge of trade verification, ISDA documentation, and settlement of treasury products
• Good knowledge of fixed income and OTC derivative instruments related to capital market and investment operations
• Good working knowledge of Summit application or other Treasury transaction systems, Markitwire, SWIFT, and other settlement systems
• Ability to contribute to team performance with strong interpersonal and communication skills
• Highly disciplined and team-oriented individual with strong analytical and problem-solving skills
• A positive and self-starter attitude (motivation, drive, initiative) and ability to work in a team-oriented, multi-cultural environment
• Fluency in written and spoken English is required
Controllers Department Competencies
• Client Understanding and Advising: Advises clients and helps them think proactively about how to meet their current and future needs best, considering the underlying issues. Works across CNT and with other VPUs to define client needs and develop the right solutions to meet those needs Plus, it provides recommendations to multiple VPUs that can add value to customers beyond normal offerings
• Broad Business Thinking: Maintains an in-depth understanding of key business issues. Sets clear explanations for the integration and alignment of CNT solutions with business functions. Plus, consider WBG-wide implications in decision-making to ensure consistency across WBG. Sponsors long-term VPU-wide initiatives
• Information Technology and Systems: Demonstrates understanding of the functions and operations of pertinent IT systems and applications. Provides input to IT systems improvement efforts based on day-to-day working experience and knowledge of the systems
• Analytical Thinking: Coordinates the information gathering and reporting process. Reviews trends and compares them to expectations. Conducts analysis to define problems and prepares responses to anticipated questions
• Policies and Procedures: Demonstrates detailed knowledge of policies and procedures in related fields.
• Risks and Controls: Leads by example and serves as a champion of good practice in completing internal control procedures, including understanding the impact beyond one’s immediate functional areas
• Communication: Adapts the communication style appropriate for the intended audience. Adopt an inclusive approach to communication that is appropriate to the situation to ensure adequate partner participation. Presents information effectively and encourages feedback
• Project Management: Understands and utilizes the concepts of project management as they relate to the implementation of a project
World Bank Group Core Competencies
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