Job Opportunity at IFC (World Bank Group) for Qualified CA/CPA for Financial Analyst
Reetu | Sep 30, 2021 |
Job Opportunity at IFC (World Bank Group) for Qualified CA/CPA for Financial Analyst
IFC (World Bank Group) is looking for Financial Analysist in Finance & Accounting Sector.
The International Finance Corporation (IFC), a member of the World Bank Group, is the world’s largest development bank concentrating on the private sector in emerging nations. We work in over 100 countries, utilising our cash, experience, and clout to help developing countries develop markets and opportunities. As nations cope with the effects of the COVID-19 epidemic, the IFC committed a record $31.5 billion to private enterprises and financial institutions in developing countries in fiscal year 2021, utilising the private sector’s potential to reduce extreme poverty and increase shared prosperity. Visit www.ifc.org for additional details.
Financial Operations (loan, equity, and short-term finance operations, as well as back-office treasury support operations), Financial Reporting (including reporting and analysis, portfolio review, investment accounting, and accounting policy), Internal Controls, and Financial Integration, Systems, and Projects are all managed by the IFC Controllers Department (CNT). The Department employs roughly 125 people in Washington, DC, and Chennai, who are diverse and highly skilled.
The Controllers’ Portfolio Review unit (CNTPR) provides governance and oversight on IFC’s investment products subject to loss provisioning across all industries and geographical regions, especially from a financial reporting standpoint. Individual and portfolio loss reserves against loans, guarantees, debt securities, trade financing facilities, and other receivables, as well as write-downs in the Investment Portfolio, are among the specific governance obligations.
In addition, the unit hosts quarterly portfolio review meetings with IFC Portfolio Managers, which serve as a focal point for discussion of portfolio issues that affect financial reporting, bringing together key stakeholders in Credit, Risk, Portfolio Management, and Financial Operations.
Given the complexity of both IFC’s portfolio and the accounting rules under which IFC prepares its financial statements (US GAAP), the function is called upon to blend knowledge about valuation principles for non-traded investments, credit analytics, and an ability to analyze macro developments impacting IFC’s Investment Portfolio with sound knowledge of complex accounting requirements to ensure proper recording of portfolio matters in IFC’s financial statements.
CNTPR is in charge of IFC’s Investment Portfolio Accounting and Reporting (IPAR) system, which ensures that the organization’s monthly financial reports are correct. IFC’s accounting and financial reporting system, IPAR, is used to document, calculate, and report loss reserves in the Investment Portfolio.
CNTPR is also the point of contact for loan loss reserve audits on a quarterly and annual basis, as well as loss provisioning and portfolio reporting trainings at headquarters and in the field.
Part of CNTPR’s work programme has been co-located in IFC’s Chennai office under the Financial Reporting (CNTFM) unit. CNTPR is looking for a skilled Financial Analyst to support the delivery of all areas of CNTPR’s work programme. This person will report to the Team Leads of CNTPR in Washington DC and CNTFM in Chennai. The candidate must have prior financial analysis experience, including understanding of US GAAP and/or IFRS as they apply to IFC and its product lines, as well as superior analytical and quantitative abilities, including the ability to work with massive data sets.
This position allows you to gain experience with the computation of individual and portfolio loan loss reserves, as well as first-hand knowledge of portfolio investment financial reporting. Furthermore, the position provides opportunities for skill development in credit analysis and valuation of IFC’s global investment portfolio.
The Financial Analyst is an important element of the CNTPR team who works closely with internal counterparts in Controllers departments as well as external clients in Investment/Portfolio, Credit, Risk, Treasury, and IT departments in Washington, DC, Chennai, and other field locations. Her/his responsibilities and tasks will include, but not be limited to:
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