Financial Operations Analyst
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.
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 the implementation of 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 seeks a Financial Operations Analyst for Chennai’s IFC Treasury Support Operations unit (CNTTS). This technically specialized position will support the processing 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 the ability to establish productive relationships with staff at all levels within the team and across various units of IFC. The incumbent will report to the Associate Financial Operations Officer in CNTTS, Chennai. The staff 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 Financial Operations Analyst will work as part of a team of professionals to meet the group’s responsibilities related to the delivery of back-office and accounting functions for all IFC Treasury activities. Responsibilities will include the following, including –
• Perform trade verification and settlement activities for Treasury transactions, including but not limited to bonds, futures, options, swaps, 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. This task involves interfacing with market counterparts, custodians, banks, and internal partners as needed
• Investigate and close out all unresolved settlement discrepancies
• Prepare and process a suite of SWIFT messages that support Treasury transactions
• Perform transaction analysis and propose system updates for operations and reconciliation activities
• Build and sustain effective relationships with internal and external partners and clients, including market counterparts, custodians, agents, and banks
• Provide Support to the Murex Project on the LAM Trade Settlement side by performing daily routine deliverables along with project migration activities, as and when required
• Ensure documentation of and compliance with all business processes in the unit
• Continually look for opportunities to improve processes and internal controls
• Act as backup in the absence of other Treasury Support Unit staff, as and when required
• Communicate effectively with IFC Treasury Support Staff and management in Chennai and Washington, D.C. (HQ) on the status of all assigned activities
Selection Criteria
• A master’s degree, preferably with a major in business administration, accounting, finance, or international trade. Professional qualifications such as CA/CPA/ACCA and/or CFA/FRM are a plus
• Minimum four years experience in related fields with a public/private financial institution with a public/private financial institution (including IFC/IBRD) or the finance/treasury function of a public/private corporation. Proven track record in previous position
• In-depth knowledge of fixed income and OTC derivative instruments related to capital market and investment operations
• Good knowledge of trade verification, ISDA confirmation, settlement, and accounting processes in relation to treasury products
• Good working knowledge of Summit (treasury system), Quantum (cash system), Markitwire, SWIFT, and other settlement or confirmation systems is a strong plus
• Ability to contribute to team performance with strong interpersonal and communication skills
• Self-starting, highly disciplined, and team-oriented individual with strong analytical and problem-solving skills
• Fluency in written and spoken English required
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 consideration 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 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 good practice champion 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 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
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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