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 Accounting Policy unit (CNTAP) within the Controllers Department has overall responsibility of accounting policies to ensure compliance with US GAAP. The Accounting Policy unit is responsible for assessing the impact that new products and new accounting standards have on IFC’s financial statements. In addition, the Unit provides accounting support to other units/departments within IFC.

IFC Controllers Department is seeking an Extended Term Consultant in the CNTAP unit in Washington DC to help support across all functions described above, including evaluation of new and/or complex financial instruments, transactions, and investment projects and providing technical accounting guidance under US GAAP;

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 Accounting Policy 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.

• Actively collaborate with  business partners and assess the impact of new and/or complex financial instruments, transactions, and investment projects and provide technical accounting guidance;
• Assess the impact of new and proposed accounting standards and pronouncements on the Corporation’s financial statements and through technically sound accounting research;
• Prepare accounting policies;
• Interact with the Financial Reporting Unit, Portfolio Management, Treasury, Legal, Financial Operations on new and/or complex financial instruments or transactions and implementing new accounting standards;
• Liaise with the Corporation’s External Auditors. Work on Adhoc task assigned by Supervisors to meet any urgent deliverables;

Selection Criteria

• Qualified Accountants (CA/CPA/ACCA).  Advanced degree in a related field.
• Minimum of5  years of post-qualification experience in similar or complementary roles is required.
• Strong background in Office 365 products
• 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.)
• Demonstrated ability to learn new technology quickly and effectively use it for maximum productivity. 

World Bank Group Core Competencies

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.

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