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 $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 Systems, Integration and Projects. The Department comprises approximately 140 diverse and highly skilled staff, based in Washington DC, and Chennai.
IFC’s Controllers Department is seeking a Financial Officer for the Accounting Policy unit (CNTAP) within the Financial Reporting team. This position will support both IFC own financials and Blended Finance business by providing accounting policy support to ensure compliance with applicable accounting and reporting requirements. The position is based in Washington, DC.
Duties & Responsibilities
The Financial Officer’s primary responsibilities will include, but are not limited to, the following duties and responsibilities:
• 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.
Selection Criteria
• Minimum education: undergraduate degree in Accounting, Finance or related field and an internationally recognized professional accounting qualification (e.g. CPA, CA, ACCA or equivalent) is required.
• A minimum of 7 years of experience in corporate or public accounting is required. Preference will be given to applicants with a background in financial services industry, particularly in Multilateral Development Banks (MDBs) and Big Four or equivalent public accounting experience.
• Detailed technical accounting knowledge of the accounting for financial instruments under U.S. GAAP and/or IFRS is required.
• Advanced writing and data analysis skills, with an ability to convey complex ideas and key messages in a clear and succinct style.
• Strong project management skills.
• Strong interpersonal skills and cultural awareness.
• Proactive, excellent organizational, research, and analytical skills.
• Commitment to work in a team-oriented, multi-cultural environment.
Controllers Department Competencies
• Client Understanding and Advising: Advises the clients and helps them think proactively about how to best meet their current and future needs, taking into considerations the real underlying issues. Works across CNT and with other VPUs to define client needs and develop the right solutions to meet those needs. PLUS: 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 inputs to IT system enhancement 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 to expectations. Conducts analysis to define problems and prepares responses to anticipated questions.
• Policies and Procedures: Demonstrates thorough knowledge of policies and procedures in related fields.
• Risks and Controls: Leads by example and serves as best practice champions in completing internal control procedures, including understanding impact beyond own immediate functional areas.
• Communication: Adapts the communication style appropriate for the intended audience. Adopts an inclusive approach to communication as is appropriate to the situation, so as to ensure adequate stakeholder participation. Presents information effectively and encourage 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
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.
