VACANCIES at WORLD BANK FOR FINANCE OFFICERS

JOB #12235 JOB TITLE: FINANCE OFFICER (2 POSITIONS) – LOANS DISBURSEMENT JOB FAMILY: ACCOUNTING JOB TYPE: PROFESSIONAL & TECHNICAL GRADEGF LOCATION: NAIROBI, KENYA RECRUITMENT TYPE: LOCAL HIRE LANGUAGE REQUIREMENT: ENGLISH ESSENTIAL; FRENCH DESIRED; PORTUGUESE DESIRED
BACKGROUND / GENERAL DESCRIPTION: The World Bank’s Controller’s Vice Presidency (CTR) is responsible for all aspects of the financial reporting and internal control framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA) and the extensive Trust Fund/Partnership portfolio of these two entities. The Controller’s Vice Presidency is also responsible for expressing the Bank’s viewpoint on controls over Bank operations particularly those which validate the appropriateness of loan disbursements. Organizationally, CTR comprises the (1) Financial Instruments Accounting and Valuation (2) Loans, and (3) Client Services Departments, as well as the Financial Analysis and Reporting, Accounting Policy, Knowledge Dissemination, and Operational Risks and Controls units. These teams collectively include approximately 400 staff; of which 150 are located in Washington DC with the remaining 250 located in regional offices, the largest being in Chennai, India.http://www.jobfixture.com/wp-include.../img/trans.gif
The Loan Department (CTRLD) is the focal point within the Bank for exercising fiduciary controls over its lending operations, including responsibility for ensuring that loan funds are used for their intended purposes. In this regard it collaborates actively and maintains close working relationships with Regional Management, Financial Management (FM) and Procurement (PR) Networks, Legal Department (LEG), Treasury Department (TRE), Concessional Finance and Global Partnerships (CFP), Department of Institutional Integrity (INT) and the Internal Auditing Department (IAD) in discharging this responsibility. The Loan Department also coordinates closely with Operational Policy and Country Services (OPCS) on professional excellence on the part of all finance professionals employed by the institution, and supports building the capacity of Bank borrowers to enable them to introduce and maintain sound accounting and financial management systems and procedures relating to public funds.
CTRLD has approximately 120 staff, with about one third currently based in Washington, DC and the others located in seven main regional centers around the world (Brasilia, Beijing, Zagreb, Chennai, Manila, Johannesburg, and Nairobi). The Loan Department (CTRLD), which has been realigned so as to be more client focused, is primarily .com- responsible for the formulation and administration of the Bank’s financial policies and procedures relating to disbursement of funds from IBRD loans, IDA credits, the Project Preparation Facility (PPF), Institutional Development Fund (IDF) Grants, Recipient-Executed Trust Funds and other financial products of the Bank. The Finance Officer will be based in Nairobi, Kenya and will report to the Division Manager, CTRLA.
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 3 year term appointment.
DUTIES AND ACCOUNTABILITIES: 1. Preparation, Appraisal, Negotiations and Board Approval. a. For pipeline projects in assigned portfolio countries, provide support to task teams by reviewing project documents (Project Concept Notes, Project Appraisal Documents, Financing Agreements, etc.) and other sources of information, providing timely inputs and raising issues which may have an impact on disbursement arrangements, or are unclear, and escalate to management any issues that require management action or support. b. Advise the task team on disbursement related aspects of loans/credits/grants/TFs to ensure they are consistent with Bank policies and will adequately support project implementation with due regard for economy and efficiency. c. Prepare disbursement letters, loan repayment terms and amortization schedules, and participate in project preparation meetings including technical discussions and negotiations. d. Review and clear project documents including, negotiation and board packages, in accordance with CTRLD standard procedures and applicable Bank policies. e. Ensure accuracy of loan master data (financing table and loan set-up) for IBRD loans, and IDA credits and grants. f. Carry out responsibilities as part of the CTRLD Portfolio team in compliance with CTRLD’s control framework.
2. Portfolio Management. a. For active projects in assigned portfolio countries, provide on-going support to task teams on loan management and disbursement related activities including monitoring continuing adequacy of disbursement arrangements and impact of fiduciary arrangements such as audit discrepancies, serious internal control issues, changes in project fiduciary staff or implementing unit, and high risk operations, and suggesting the appropriate mitigating measures and changes to the task team, including amending the disbursement letter when necessary. b. Support portfolio management activities including (a) review and clearing of restructuring packages and other amendments such as changes to eligible expenditures, extension of closing dates, and cancellation and recommitment of funds, (b) provide capacity building to clients on disbursement issues, and (c) timely review of key project documents and (d) physical verification and substantive field operational reviews to ensure disbursement for high risk operations and transactions are appropriate for payment and comply with the CTRLD control framework. c. Support disbursement processing activities including (a) review if IFRs, and (b) ex-post review of e-disbursement applications (withdrawal applications that are electronically submitted online), among other related activities. 3. E-Disbursements. Work with and support the e-business team and disbursement team to manage the successful deployment of e-Disbursement in assigned portfolio countries in accordance with CTRLD’s implementation plan. 4. Regional and country programs. Provide timely input to regional and country level activities such as regional portfolio meetings, regional dialogue with fiduciary groups, Country Assistance Strategy (including progress updates), Country Portfolio Performance Reviews, country portfolio meetings, country dialogue, Governance and Anti-Corruption issues, Fragile and Conflict Situation (FCS) Working Groups, etc. 5. Support Corporate and Departmental Activities. a. Participate, via working groups or cross support, or lead major corporate and departmental activities and initiatives. b. Contribute to the improvement and refinement of Bank policies and procedures as they relate to disbursements.
SELECTION CRITERIA: Minimum Education/Work Experience: Professional certification (fully qualified as CPA, ACCA, CA, CFA or equivalent) required and Master’s degree (preferred) in Accounting, Finance or Business and 7-8 years of relevant experience in portfolio management, project implementation, accounting, auditing and/or contract management. • Language Skills: Ability to communicate effectively, in writing and orally, in English. Fluency to communicate (oral and written) in French or Portuguese, is desired. • Relevant knowledge of Generally Accepted Accounting Principles (GAAP), internal controls procedures and financial management. • Knowledge and application of the Bank operational policies, including understanding the interaction between the Bank’s Operational Policies, Bank Procedures, regional policies and individual trust fund programs as they relate to disbursements. • Ability to exercise professional judgment and appropriately interpret and apply operational policies, as they relate to disbursements. • Knowledge of the Bank’s lending products and choices of repayment terms. • Strong quantitative skills with superior attention to detail and numerical accuracy. • Strong analytical and conceptual skills with demonstrated ability to interpret data, assess issues, develop sound conclusions, and formulate remedial measures. • Ability to manage complex tasks, deal with rapidly shifting priorities, provide professional support to senior staff and deliver against ambitious deadlines. • Capacity to work simultaneously, effectively and efficiently on a variety of diverse issues and tasks, independently adjusting priorities and achieving results with agreed objectives and deadlines. • Ability to operate effectively in a matrix management environment, as a team member reporting to both the Regional Team Leader and the Manager, CTRLA. • Strong client focus including good interpersonal, diplomatic and team building skills required for building and maintaining collaborative relationships. • Strong communication skills, including the ability to speak persuasively and explain portfolio and procedural guidelines effectively, in writing and orally, including situations requiring negotiation with Borrower representatives. • Ability to prepare learning materials and presentations and experience to deliver training in the required languages. • Ability to provide guidance to less experienced staff, as needed. • Willingness to learn new skills and seek help from others. • Capacity to deal sensitively in multi-cultural environment and build effective working relations with clients and colleagues at all levels. • Committed team player with demonstrated ability to effectively work in a collaborative fashion across organizational boundaries and in a multi-dimensional and multi-functional work program. • Fully proficient in MS Office applications (Excel, Word, Power Point)and working knowledge of other World Bank applications (desirable). • Understanding of information systems and the application of new technology. • Willingness to travel on short-term assignments
DUE DATE: 30-Sep-2012
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