Organization:The Non-structured Financial Instruments division
Location:Chennai,China
Background / General description:
Background:
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 appointment type. All others will be offered a 4 year renewable term appointment.
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 Financial Analyst's primary responsibilities will include, but not limited to, a combination of some of the following activities:
1. Analytical review and information support:
a) A periodic review of the financial results of the loan and borrowings portfolio to identify trends and significant changes so as to assess the reasonableness of account balances leading to a sign off on the data/information
b) Develop expectations, perform analysis, prepare commentaries and suggest and implement solutions in a pro-active manner
c) Respond to questions/requests on loan and borrowings information from period activity or financial reporting requirements.
2. Assuring the accuracy, appropriateness, completeness and control of information:
a) Review new trade set up to ensure that the financial terms and other information are accurately captured.
b) Monitor and control settlements.
c) Review monthly reports on the portfolio and assess the income statement effects.
d) Monitor, review and process debt relief initiatives including, but not restricted to, MDRI, eHIPC and debt service trust funds.
e) Periodically review various reconciliation reports to validate that all business activity has been properly recorded and verified for use in the Bank's financial statements.
f) Assist in the preparation of monthly performance metrics report and focus on enhancing the level of information included to give an improved view of the control environment and the work program efficiencies.
g) Identify opportunities for improvements in current processes, initiate improvements within the system and control framework; work with business and technology teams across locations to implement solutions / improvements.
h) Assisting in the specification, testing, implementation and maintenance of systems supporting loan and hedging products.
3. Provide support, as necessary, to country and regional operations teams to ensure the smooth operation of the country loan portfolios. Provide inputs for developing and delivering learning programs for Bank staff and clients on the Bank's loan products and policies.
4. Review and validate inputs related to interest rates, spreads, prepayment premiums, swaps and related conversions, interest and currency hedges, received from other departments and ensure that the same are accurately captured in the loan systems. In this responsibility the candidate will need to develop a close working relationship with all stakeholders including the treasury department of the Bank.
Selection Criteria
The candidate should meet the following criteria:
- Chartered Accountant (or equivalent professional accounting qualification). An internationally recognized professional qualification such as a CPA, CFA would be a plus.
- Two or more years of experience with a Bank, a major financial institution or a public accounting firm. Strong knowledge of financial instruments especially capital market instruments.
- Previous experience in accounting for financial instruments in the financial services industry will be highly desirable.
- Sound experience with integrated financial systems. Experience in SAP, Summit, Numerix, is a plus.
- Strong quantitative and analytical skills, including excellent excel spreadsheet skills and familiarity with financial modeling techniques will be a plus
COMPETENCIES:
Shown below are the broad competencies linked to this job.
- Project Management - Understands and utilizes the basic concepts of project management, as they relate to the implementation of a project. Uses project management standard tools, methodologies and processes. Is able to proactively identify and mitigate project risks as well as to manage project issues.
- Business Processes & Systems - Moderate understanding of business processes. Be able to analyze business processes and enhance internal controls in order to resolve issues, and improve operational efficiency and effectiveness.
- Accounting Policy - Ability to interpret basic accounting principles and other related auditing standards and translates those principles and standards into accounting and administrative policies and procedures for the organization.
- Transaction Processing - Recommends solutions to problems/issues encountered during transaction processing. Develops guidelines for transaction processing and establishes processes for recording new types of transactions. Effectively uses technology to enhance efficiency and productivity in the processing of transactions.
- Disbursement Policies & Procedures - Possesses a basic understanding of disbursement policies and procedures and ability to apply policies and procedures in a practical setting.
- Financial Products - Basic understanding of the range of available financial instruments (e.g., IBRD loans, IDA credits and grants, trust funds).
- Risk Management & Internal Controls - Applies basic understanding of the internal controls and risk management principles in carrying out day-to-day functions.
- Client Orientation - Proactively addresses client needs, takes personal responsibility and accountability for timely response to client queries, requests or needs. Anticipate client needs and responds based on clear understanding of needs and concerns.
- Drive for Results - Delivers results and impact for clients and stakeholders. Holds self accountable for achieving sustainable results, and makes things happen both as an individual and through others.
- Teamwork (Collaboration) and Inclusion - Collaborates and promotes inclusion within and across boundaries. Works effectively with individuals of different cultures and gender, and includes the perspectives and ideas of others.
- Knowledge, Learning and Communication - Demonstrates agility for learning and a commitment to enhance one's capacity. Routinely shares own knowledge with others. Listens objectively to others' ideas, and speaks and writes clearly, concisely and persuasively.
- Business Judgment and Analytical Decision Making - Analyzes available information and makes evidence based ethical decisions. Analyzes facts and data to support sound, logical decisions regarding own and others' work.
- Excellent written and oral communication skills. Should have a strong commitment to knowledge-sharing within a multicultural environment and the capacity to work simultaneously and effectively on a variety of tasks.
- Closing Date: Thursday, 15 August 2013
http://unjobs.org/vacancies/1375399456141
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