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 Risk & Finance Vice Presidency Unit (CRFVP) helps to ensure that IFC is sufficiently profitable and capitalized to sustain and grow its operations through prudent risk management at the corporate, portfolio, project, and client levels. It sets best practice standards in risk management to drive sustainable private sector development in emerging markets. CRFVP works in partnership with other IFC Vice Presidential Units to ensure IFC meets its corporate objectives.

The Controllers Department (CNT) is housed within CRFVP and is the IFC’s key leader responsible for reporting on financial matters to IFC’s senior leadership and board of directors.  Within CNT, the Financial Operations Division (CNTFO) has overall responsibility for recording, servicing, and providing post-commitment support for the private sector loan, guarantee, short term finance products and programs, equity investments, and donor funds.  The CNTFO team is based in Washington DC (HQ) and Chennai, India, and delivers its work program in a follow-the-sun model which ensures that support operations are successfully delivered.

We are seeking a Manager for the Financial Operations division (CNTFO). The position is based in Washington, DC, where the Manager serves as a key member of the CNT Leadership team. The CNTFO Manager has approximately 68 staff, consultants and contractors under their purview operating from Washington DC and Chennai, India.  The Manager will report directly to the Director and Controller, CNTDR department.

People Management skills, a vision for automation, efficiency and modernization of products, services and processes, and a robust client and stakeholder management orientation are essential characteristics for success in this position.

Duties & Responsibilities:

The selected individual will be responsible for effectively managing a large and diverse team of technical staff, consultants, and contractors located in Washington DC and Chennai, India, to deliver the CNTFO work program.  Will play a leading role in creating an enabling environment that supports and facilitates streamlining, automation and innovation of processes, procedures and systems, as well as for strengthening the control environment.  Will provide guidance and direction to the multifunctional units encompassing the processing, settlement, control, and accounting for all IFC’s investment products including:  loan-related investment activities, equity and custody operations, blended finance and donor-trust-funds activities, trade and supply chain finance, special operations, debt securities, guarantees, and risk mitigation products.

This individual will work towards ensuring strong collaboration and integration within the CNTFO team and the CNT department overall.  Will also engage in strong stakeholder engagement to build trusting relationships with our internal and external clients and business partners.  The selected individual will be responsible for maintaining high standards of team performance and the professional development of all staff members in achieving CNTFO’s strategic objectives relating to internal and external client services, processing efficiency, and quality.

Specific Responsibilities include: 

• Lead the 42-person Washington DC-based CNTFO division providing direction and support to front line supervisors and the team overall.
• Co-lead the 26-person CNTFC Chennai, India staff, functions and activities.
• Manage delivery of CNTFO’s work program, identify and adopt/adapt best practices related to the support of IFC’s investments in the current environment, and anticipate future trends.
• Manage and provide oversight for the delivery of integrated accounting and financial support services for IFC’s loan, syndicated loan, quasi-equity (e.g.: debt securities, subordinated loans), trade and supply chain finance, short-term finance, guarantees, received-guarantees, and donor-funded portfolios.
• Effectively manage financial and human resources based on sound workforce planning and budgeting practices.
• Provide leadership in the implementation of the new loan system, and actively participate in key institutional system initiatives such as: Core Operational Systems Renewal, ERP replacement and Quantum upgrade to Swift ISO20022.
• Identify and implement process standardization and simplification, productivity improvements, and control enhancement initiatives that improve service quality, timeliness, cost effectiveness, and reduce operational risk.
• Lead the development of units capable of supporting IFC’s transaction growth by improving and automating processes and controls, reducing volume sensitivity, and introducing straight-through-processing automation and developing, implementing, and maintaining best practice processing and settlement controls associated with CNTFO’s investment portfolios.
• Employ strong stakeholder engagement and outreach practices to build trusting relationships with clients and key stakeholders.
• Provide guidance and operational support to Investment, Treasury, Legal, Private Sector Development Vice Presidencies in the development and operationalization of new investment transactions and client products, and development and roll-out of corporate initiatives.
• Maintain customer service standards and metrics, and facilitate effective internal and external communications.

People and Talent Management:

• Lead, motivate and mentor staff.
• Foster a positive and respectful work culture, teamwork, innovation, and client orientation.
• Create an enabling work environment that fosters strong talent management, professional development and learning for staff, and build a pipeline of talent to meet future business needs – future leaders.
• Contribute to establishing effective performance reviews and reward mechanisms within CNTFO.

Selection Criteria

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.