Finance Analyst
Colombo, Sri Lanka
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 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 Budget and Business Administration Department (CBA) integrates financial sustainability, resource and administration functions under one umbrella to enable the execution of management and operational needs in the best way. Aligning IFC’s strategy and resource management capabilities and deliverables while supporting IFC’s financial sustainability mandate is imperative for our strategic engagements and client delivery.
The Finance Unit for South Asia Region (CBASA) is responsible for work program planning, budgeting, monitoring, budget & financial reporting for all the offices in the South Asia Region (CSA). Overall, CBASA maintains cost efficiency and effective controls over all financial transactions and provides support for effective management of resources.
CBA is seeking a Finance Analyst for the Colombo, Sri Lanka office who will report to the Finance Officer based in India.
Roles and Responsibilities
The Finance Analyst will be responsible for:
Country Management and Operational Support
• Provide day to day guidance to country office staff on finance-related policies and procedures.
• Provide technical training and share knowledge related to controls, policies, and procedures.
• Work closely with the Country Manager(s)/Finance Officer/Regional Financial Controller to ensure a strong control environment in the office, providing advice on control issues and sharing recommendations for improvement.
• Prepare ad-hoc analyses as requested or proactively as may be deemed useful to clients, i.e. country leadership, regional anchors, etc.
• Support Country Manager and the regional team on country office budget formulation and forecasting exercise.
• Support audit and quality assurance reviews, and escalate issues to the Management when necessary. Ensure Audit/IRI recommendations are implemented in the offices promptly.
Budget and Resource Management
• Play a key business planning and monitoring role in ensuring timely delivery of financial forecasting, budget monitoring reports and variance analyses both routine and ad hoc, at the Country level.
• Provide value-added services and guidance to clients on resource utilization that aligns with business strategies and priorities.
• Implement and maintain adequate financial control systems over the financial transactions and business operations, including periodic review of expenses and monitoring of non-eligible expenses for reposting to appropriate sources of funds.
Advisory Portfolio and Upstream Support
• Serve as a Regional Finance focal point for one or two Advisory and Upstream business areas (as assigned) and work closely with HQ counterparts as well as internal clients based in the region to provide business areas budgetary support on an ongoing basis.
• For the assigned business areas, provide budget-related support to relevant Directors, Managers and Project leaders, contribute to the Country Driven Budget submissions, work closely with the Team Leads on Project budgets, monitor actual spending vs budget, forecasting, monitor fund balances and share periodical business area reporting.
• Ensure proper accounting of costs and controls which include responsibility for TRS (time recording) compliance, BF111 clearing, ASFM allocations, Letter of Representation (LOR) sign-offs.
• Client Fee Financial Management: Review client fee agreements, fee billing, and recording of fees in FAMS and report on fees including aging.
• Be a subject matter expert and provide training/presentation on budgeting and IFC/WBG policy matters to the internal clients.
• Collaborate with the Partnership team on Donor funding availability and utilization for projects and programs as per Governance. Lead at least one key Donor administrative agreement support as part of Regional-wide responsibility.
Financial Reporting, Analytics, and Business Intelligence
• Preparation and timely delivery of key financial analyses and reports as assigned, both routine and ad hoc.
• Prepare (i) country program/pipeline reports; (ii) country portfolio snapshots and (iii) country profit and loss reports.
• Prepare ad-hoc analysis for the South Asia Region and Sri Lanka office as requested or proactively as may deem useful to clients.
Selection Criteria
• Relevant bachelor’s degree (Finance or Accounting) with 4+ years of relevant professional experience, or equivalent combination of education and experience.
• Recognized professional accreditation (CPA, CMA, CIMA, ACCA, etc.) is a plus.
• Sound knowledge and understanding of accounting theory, concepts, and principles, combined with proven practical skills in financial and cost accounting reporting, business planning, work programming, budgeting, financial management, and audit. Ability to understand different financial reports and ledgers.
• Strong problem-solving, conceptual, and analytical skills.
• Ability to research, analyze, and synthesize information, interpret data, retrieve information from SAP or other databases, and clearly and concisely prepare results.
• Desired working proficiency in SAP, AO, BPC, FSRS, iPortal, IBIS, and other RM systems used by IFC for transactional and reporting purposes.
• Experience in Power BI, Tableau, or other data visualization tools desirable.
• Strong communication skills (in English), both written and oral, to convey complex budget and administrative financial issues concisely to management and staff.
• Ability to lead smaller teams and supervise staff.
• Strong interpersonal skills and ability to work effectively with internal/external partners in a multicultural environment.
• Ability to develop solid relationships with key stakeholders and build productive partnerships.
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
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.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.
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