Financial reporting

Financial Officer, Corporate Reporting and AnalysisJob # : req28224 Organization : World Bank Sector : Finance & Accounting Grade : GF Term Duration : 4 years 0 months Recruitment Type : International Recruitment Location : Washington, DC,United States Required Language(s) : English Preferred Language(s) : Closing Date : 7 / 26 / 2024 (MM / DD / YYYY) at 11 : 59pm UTCDescriptionDo you want to build a career that is truly worthwhile? Working at the World Bank provides a unique opportunity for you to join us to help our clients solve their greatest development challenges.The World Bank (WB) is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions (IBRD, IDA, IFC, MIGA, and ICSID) dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development on a livable planet.With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges.For more information, visit .The WB Finance & Accounting (WFA) Vice Presidency is responsible for all aspects of the financial reporting and internal control framework for IBRD and IDA, and the extensive Trust Fund / Partnership portfolio of the WB entities.It supports an appropriate fiduciary control framework for administering disbursements for Bank lending and leads the client service function for the WB’s corporate expenses.Organizationally, WFA is comprised of three departments : (1) Corporate Accounting and Reporting, (2) Trust Funds and Loans, and (3) Financial Operations.In WFA, our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.WFA’s Corporate Reporting and Analysis Division (WFACR), part of the Corporate Accounting and Reporting Department, is responsible for all aspects of the financial reporting of IBRD and IDA.This includes the quarterly and annual financial statements, management reporting, business unit accounting oversight, the monthly closing of the ledgers, and capital accounting.The team’s roles and responsibilities provide a holistic understanding of the financial dynamics of the institutions. The team is strategically positioned with high visibility and ability to assess the impact of market and institutional developments on the financial results of the institutions.WFACR is currently seeking a Financial Officer for its team in Washington, DC.How your contributions will help us achieve our goalsThe Financial Officer will play a key role in preparing and reviewing reports and analysis that are heavily relied upon by key internal and external stakeholders, including investors, underwriters, rating agencies, and Senior Management.You will also be involved in projects to automate, streamline, and enhance our processes in order for us to operate more efficiently and add more value.There will also be opportunities to support new products and initiatives that are aimed at further supporting our client countries.As a Financial Officer, you will report to the Division Manager.What you will do• Financial reporting : Support the preparation of the financial statements and management reports for IBRD and IDA while ensuring financial reporting is accurate, timely, and in compliance with Generally Accepted Accounting Principles (GAAP) and / or internal reporting requirements;• Financial analysis : Identify and document trends and key drivers of the financial results through critical review of data and discussions with business partners.• This will be in the context of understanding market movements and by monitoring the interest rate, foreign exchange, and credit risk exposures;• Accounting policy development : Research accounting issues and interpret accounting standards in coordination with the Accounting Policy team to ensure the timely and accurate application of existing and new accounting guidance;• New products and initiatives : Assist with determining the accounting and reporting impact and work with the accounting teams on the implementation aspects;• Internal and external collaboration : Function as a point of contact for external auditors and coordinate financial activities with business units within IBRD and IDA.Selection CriteriaEducation and Certifications• Bachelor’s degree in Finance, Accounting, or MBA• CPA or equivalent designationExperience• Eight or more years of relevant experience• Background in the financial services industry and familiarity with banking and capital market transactionsKnowledge and Skills• Strong knowledge of . GAAP and proficiency with researching accounting literature• Hands on experience in statutory and management reporting for a financial institution• Working knowledge of one or more general ledger accounting systems• Strong knowledge of and experience with internal controls over financial reportingAbilities• Ability to multi-task and meet deadlines• Effective communication skills, including the ability to explain and express views clearly, confidently, and diplomatically to ensure high-quality results• Ability to deal sensitively in a multi-cultural environment and build effective working relations with clients and colleagues• The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance;and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.Last updated : 2024-11-17