Finance Assistant, Washington

Closing Date: Thursday, 17 January 2013
World Bank
1818 H St NW
Washington, DC 20006
(202) 473-1000

  Background / General description:

The Multilateral Trusteeship and Innovative Financing (CFPMI) department is in the Concessional Finance and Global Partnerships Vice-Presidency (CFP), reporting to the CFP Vice President. CFP's operational units include CFPMI, which is at the forefront of the Bank's engagement in global funds and innovative financing initiatives; the Global Partnership and Trust Fund Operations Department, including teams for trust fund program management and administration as well as trust fund policy and partnerships; and the Resource Mobilization Department in charge of managing IDA's operations and finances and its periodic replenishments. These Departments are complemented by a central finance and risk department.........


CFPMI was created in response to the growing demand for Bank engagement in global funds and innovative multilateral financing initiatives. CFPMI has two inter-related business lines:

(1) Management of financial intermediary funds (FIFs), for which CFPMI designs and provides end-to-end trustee, fiscal agency, financial and replenishment management services, and recording and monitoring of financial and accounting transactions using customized system applications. Funds held in trust for FIFs in FY12 amounted to US$18 billion, and accounted for 61 percent of all funds held in trust for the World Bank Group's trust funds, an increase from 51 percent in FY08. The number of FIFs is increasing steadily, the Bank's role in FIFs has significantly expanded, and some of the newer FIFs offer platforms for financial innovation. Cumulative donor contributions to FIFs amount to $54 billion, with annual cash contributions of over $7 billion and disbursements of $6 billion in FY12. Long-established FIFs managed by CFPMI include the Global Environment Facility (GEF), the Debt Relief Trust Fund, and the Global Fund to Fight AIDS, Tuberculosis and Malaria.

(2) Innovative financing, which involves advising on and managing the design, negotiation and implementation of highly tailored solutions for specific development challenges. Innovative financing initiatives/FIFs include the International Finance Facility for Immunisation, the pilot Advance Market Commitment for pneumococcal vaccines, the Adaptation Fund under the Kyoto Protocol, and the Climate Investment Funds.

CFPMI seeks an experienced and highly motivated individual for the position of Finance Assistant to support CFPMI initiatives, particularly FIFs. Please note that there are two positions open - each Finance Assistant will support specific, different FIFs.

  Duties and Accountabilities:

    Process a variety of accounting transactions in an accurate and timely manner in STAR/SAP. Review all documents prior to system entry, ensure compliance with policies & procedures and liaise with the portfolio secretariats when any issues arise in the documentation.
    Ensure that all financial records and files (e.g., supporting documents for disbursements, commitments and contributions, etc) in the office are well organized, maintained and updated.
    Perform quality reviews of transactions processed manually and electronically, identify compliance issues and recommend corrective actions as needed.
    Perform month-end reconciliations between the accounting transactions recorded by Fund secretariats and the information entered in STAR/SAP; follow-up with secretariats on any inconsistencies.
    Generate letters of commitment to Agencies, review payment amounts, donor contact information and bank account details, ensure letters are distributed via e-mail and in hard copy well in advance of payment due dates.
    Provide documentation and other support to both internal and external auditors and participate in facilitating the audit process.
    Participate in the contribution agreement preparation and invoicing process to donors for annual installment and quarterly encashment payments. Generate letters and schedules in STAR/SAP, review payment amounts, donor contact information and bank account details, ensure letters are distributed via e-mail and in hard copy well in advance of payment due dates.
    Prepare and assist in the production of month-end reports regarding donor payments and the status of accounting transactions.
    Assist in the preparation of reports to Fund governing bodies, annual budget requests, and billing to external clients, and collect data from relevant databases and prepare system generated and/or customized reports for various stakeholders.
    Use word processing or desktop publishing skills to produce reports, figures, graphs, etc., according to standard Bank formats and distribution.
    Ensure that financial and transaction records and files are well organized, maintained and updated.
    Monitor the team e-mail account and keep all correspondence well organized. Respond to general inquires as appropriate, while forwarding more complex issues to relevant team members and ensuring responses are sent in a timely fashion.
    Suggest ways to enhance work organization, process and effectiveness; identify and resolve diverse issues/problems as they arise, which often requires interpretation of existing procedures and processes and independently determining solutions.
    Identify areas of weakness in internal control system and suggest ways for improvement.
    Maintain team distribution lists and phone/address lists of key contacts.
    As needed and under the supervision of team members, interact with donors, agencies and secretariats with respect to new initiatives and funds managed or supported by CFPMI.
    Draft routine correspondence and proofread materials using proper grammar, punctuation, and style.
    Handle logistical planning for various events (e.g. donor, committee, technical group meetings, virtual calls, etc.) and coordinate other administrative support activities related to these events.
    Assist with unit duties as requested by the Executive Assistant (such as office supplies, TRS, etc.)

  Selection Criteria:

      Superb accuracy and attention to detail in order to meet the unit's need for precise and timely processing and reporting of its day-to-day accounting work.
    Ability to work independently on routine issues, organize and prioritize work to meet deadlines, develop working relationships with internal and external clients, and to work with minimum supervision on complex/ new issues.
    Thorough knowledge of and proficiency in advanced functions of standard Bank technology packages and demonstrated proficiency with SAP (entering accounting transactions and running reports);
    Strong written and oral communications skills in English, while using tact and professionalism with all contacts with donors.
    Strong inter-personal skills and commitment to work in a team-oriented, multi-cultural environment. Reliability, positive attitude, and capacity to interact professionally and tactfully with staff at all levels.
    Demonstrated ability to develop working relationships with internal and external clients.
    Ability to work under pressure and flexibility in handling a variety of concurrent assignments.
    Excellent organizational skills.
    Minimum qualification: Bachelor's degree (preferably with a focus on Accounting, Business, Economics or Finance). Relevant experience of at least 5 years in accounting, administration, budgeting, etc.

    Competencies:

    Tasks and Workflow Management - Has good organizational skills, and the ability to work capably in a fast-paced, deadline oriented environment, managing multiple tasks within tight deadlines.

    Financial Literacy - Reads and analyzes financial statements of other financial documents.

    Accounting Literacy - Is able to intelligently speak with Accounting SMEs to identify and apply the appropriate accounting policy.

    Corporate Policies and IDA/Trust Fund & Lending Operations - Demonstrates working knowledge of IDA/trust fund operations sufficient to provide research and analysis in support to fund strategy development and management decisions.

    Financial Transactions Processes & Systems - Is aware of the sources and nature of funding structures and understands the IDA/trust fund operations and can process financial transactions following establishing processes and methodologies with minimal supervision.

    Client Orientation - Able to interact with clients with discretion and diplomacy. Demonstrates ability to resolve complex client related issues. Displays understanding of relevant internal and external factors and their impact to the client.

    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 communicate in a constructive and professional manner. Can assist in the preparation of written materials in accordance with WB administrative guidelines and best practices. Able to contribute to unit's knowledge sharing.

    Business Judgment and Analytical Decision Making - Able to effectively and independently provide general research support. Demonstrates ability to access situation, and make sound judgment on action needed.click to apply