Financial Officer

• Job #130036
• Job TitleFinancial Officer
• Job FamilyOther
• Job TypeProfessional & Technical
• GradeGF
• LocationWashington, DC
• Recruitment TypeInternational Hire
• Language RequirementEnglish [Essential]
• Closing Date29-Jan-2013

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 Immunization, 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 Financial Officer to contribute to CFPMI initiatives, particularly FIFs.
Duties and Accountabilities:
• Support the Unit’s trusteeship responsibilities for designated FIFs, working closely with other Finance Complex Units and Legal. This work includes funds management; preparation of financial status reports and other analysis for FIF external governing bodies/donors as well as for internal purposes; preparation of trustee budget papers for FIF external governing bodies/donors and managing the trustee budget; and managing donor and client/partner relationships, including responding to inquiries from donors/other clients; participating in decision making on finance-related issues along with other Finance Complex units such as Treasury and Controllers’; • Manage the external audit process for designated FIFs ; • Provide input to the Department’s control framework for FIF-related financial transactions; • Undertake financial analysis on designated FIFs, prepare reports, and support CFPMI presentations to senior management, donors, the Board, other multilateral development banks, etc.; • Mentor, guide and train junior members of the team on the day-to-day functions of managing FIFs; • Identify opportunities for collaboration and knowledge sharing across CFPMI teams as well as across organizational boundaries.
Selection Criteria:
• Advanced academic degree in finance, business management, accounting, audit or other relevant field of study, or equivalent professional credentials, with 5 or more years relevant work experience. • Proven technical and analytical skills, particularly in the analysis of financial data, and ability to coordinate information gathering, analysis and reporting. • Good understanding of the operational and financial structure of IDA, trust funds, FIFs. Generally, it may be noted that FM or RM family experience is of only limited relevance for this position. • Demonstrated in-depth knowledge of Bank operational policies, processes and procedures, preferably with prior experience in issues related to the Finance Complex. • Demonstrated ability to work with external partners, such as bilateral donors, foundations, NGOs, MDBs, etc. • Demonstrated understanding of client/partner needs, issues and concerns in the concessional finance arena. Ability to respond effectively to clients/partners, customizing products and services as appropriate. • Excellent written and oral communication skills; ability to communicate ideas effectively. • Strong interpersonal skills and the ability to work effectively as part of a team, sharing work load and carrying out tasks as needed. • Ability to seek and share technical knowledge and experience and capacity to work across organizational boundaries. COMPETENCIES: • Project Management - Understands and utilizes the basic concepts of project management, as they relate to the implementation of a project. • Internal controls and corporate procedures - Can evaluate specific policies and procedures against the entity's stated mission, strategies and practices, and identify deficiencies. • Tasks and Workflow Management - Has excellent workflow management and task organization skills; able to take responsibility for all aspects of coordination of the workflow of assigned responsibilities. • Transactions Processing and Quality Control - Has ability to efficiently process diverse accounting and administrative transactions in accordance to accounting/procurement policies and WB code of conduct. • Financial Literacy - Reads, analyzes, and can compile financial statements of other financial documents. • Accounting Literacy - Demonstrates wide knowledge of GAAP/IFRS and basic knowledge of special accounting areas. • Corporate Policies and IDA/Trust Fund & Lending Operations - Demonstrates working knowledge of IDA/trust fund operations and can advise on strategy development and management decisions with minimal supervision. • Financial Transactions Processes & Systems - Can define ad-hoc processes and methodology for the processing of financial transaction. • Technical Writing and Presenting - Understands the audience needs and analyzes the amount of detail required, and the necessary extent of precision required for any information being used. • Negotiation Skills (CFO) - Plans and manages negotiation process with established parameters and under general guidance of team leaders. • Team Leadership - Leads teams to achieve objectives, providing the needed direction and structure, and resolving problems of both a technical and interpersonal nature. • Client Orientation - Takes personal responsibility and accountability for timely response to client queries, requests or needs, working to remove obstacles that may impede execution or overall success. • 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 - Actively seeks knowledge needed to complete assignments and shares knowledge with others, communicating and presenting information in a clear and organized manner. • Business Judgment and Analytical Decision Making - Analyzes facts and data to support sound, logical decisions regarding own and others' work.

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