Organization:The Non-structured Financial Instruments division
Location:Chennai, India
Background / General description:
The Non-structured Financial Instruments division is part of the Financial Instruments Department (CTRFD)
in the Controller's Vice Presidency and is co-located in Washington, DC (CTRNF) and Chennai, India (CTRNC). The division is responsible for ensuring that all non-structured (vanilla) financial Instruments transacted are completely and accurately recorded in the books and records of IBRD, IDA and Trust Funds in accordance with applicable accounting and market standards using efficient and cost effective frameworks. The division is also responsible for providing debt service/management services to clients.
With responsibilities throughout the life cycle of these financial instruments, the division interacts daily with a variety of stake holders and clients on a wide range of issues including product structures, valuations, market data, repayments, prepayments, conversions (interest rate and currency) and providing assistance on future obligations. The division works closely with many internal finance groups and is at the forefront of policy changes, new structure initiations, concessional finance initiatives and customized solutions. As the custodian of all financial information, the division plays a lead role in all related system enhancements. Evaluating new terms and structures while always striving to strengthen our information and controls provide an interesting work mix and career opportunities. One of the growth areas in the Department is the loan client services. With the worldwide spread of clients and a wide range of market based products, the potential of value delivery is immense.
While the initial duration of the appointment is 4 years, the same could be extended / modified depending on the changes and evolution of the work program of the division.
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 4 year term appointment.
Duties and Accountabilities:
The incumbent will work for the valuation work program in Chennai to meet the Department's responsibilities as they relate to the Independent Price Verification of financial instruments. Responsibilities will include the following:
- Produce accurate and timely valuations using Institutional applications for all instruments under the non-structured portfolio - loans, bonds & swaps.
- In-depth analysis of the valuation results - both at macro and micro level.
- Proactively implement controls and process improvements with the objective of increasing efficiency and accuracy of valuations produced.
- Building various analytical tools to measure portfolio Greeks and integrating them in periodic analysis.
- Proactively interact with other financial institutions to ensure that the valuation results produced are in line with the market practice. Stay abreast of industry best practice as it relates to valuation of financial instruments.
- Develop expectations, perform analysis, prepare commentaries and suggest and implement solutions in a pro-active manner.
- Prepare various statutory and management reports as required by the department.
- Assist with coordinating with external and internal auditors.
- Participate in and, if required, lead the Department's projects and business initiatives.
- Maintain and develop processes, procedures, and internal controls around portfolios handled.
Selection Criteria:
1. Masters degree in Finance, MBA (Finance), Chartered Financial Analyst, Certified Public Accountant, Chartered Accountant, or equivalent
2. Two or more years of experience with a Bank or a major financial institution. Strong knowledge of financial instruments especially loans.
3. Proficiency in VBA and SQL and demonstrated skills of bridging the technical and systems aspect of business.
4. Previous experience in valuation for financial instruments in the Financial Services industry especially experience in Sovereign credit - including modeling and valuation will be highly desirable.
5. Effective communication skills with regard to working with various groups on technical areas to reach decisions on issues.
6. Sound experience with integrated financial systems. Experience in SUMMIT / SAP and Bloomberg/Reuters is a plus.
7. Strong interpersonal skills with the ability to thrive in a team oriented environment.
8. Proven quantitative and qualitative analytical skills, including excellent spreadsheet skills. Familiarity with financial modeling techniques and writing Macros will be a plus.
9. High level of initiative, self-confidence and a self-starter; proven problem-solving skills, ability to deliver high quality results and operate with minimum supervision.
COMPETENCIES
- Project Management - Understands the basic concepts of project management, as they relate to the execution of tasks within a project
- Business Processes & Systems - Has basic understanding of business processes and systems (including accounting systems) to recommend and help implement process improvements.
- Fundamental Controllership Knowledge - Has a basic understanding of general accounting principles, risks and controls, financial concepts and financial transaction processes.
- Accounting Policy - Understands accounting principles and, under guidance of senior staff, is able to apply accounting principles to appropriately record transactions.
- Corporate Finance - Has a basic understanding of corporate finance concepts and financial instruments as demonstrated by ability to perform basic analyses to assess the impact of market forces on portfolios of financial instruments.
- Transaction Processing - Has substantial work experience with using automated systems to process transactions.
- Financial Products - Has a basic understanding of the range of available financial instruments (e.g., IBRD loans, IDA credits and grants, and trust funds).
- Product Valuation and Modeling - Applies market knowledge of derivatives from a valuation (modeling), risk management or trading perspective towards world bank products.
- Client Orientation - Able to establish partnership based working relationships with internal/external clients. Demonstrates independence, initiative, and autonomy in addressing clients' needs.
- Drive for Results - Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results, and has the personal organization to do so.
- Teamwork (Collaboration) and Inclusion - Collaborates with other team members and contributes productively to the team's work and output, demonstrating respect for different points of view.
- Knowledge, Learning and Communication - Able to research and draft quality written materials or review adherence of written materials prepared by others to administrative requirements. Able to mentor and guide, and organize learning activities within area of assigned responsibilities.
- Business Judgment and Analytical Decision Making - Able to use analytical, problem-solving skills and resourcefulness to make informed and practical decisions to carry out own work . Able to advice on information usage and storage, and policies in the area of assigned responsibilities.
How toApply
http://unjobs.org/vacancies/1372973621884
No comments:
Post a Comment