Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development.
World Bank Group Finance and Accounting (WFA) is led by the Vice President and Controller, who reports to the Chief Financial Officer. WFA in the Bank comprises the following functions: Financial Instruments Accounting and Valuation; Loan and Trust Fund Operations; Accounting Business Services; Financial Reporting; Accounting Policy; Documentation and Communication; Advisory Services; and Risks and Controls. These units collectively include approximately 450 staff, of which 100 are in Washington, D.C. with the remainder in regional offices including the largest in Chennai, India.
WFA Financial Controls (WFAFC) is a business division in WFA and is responsible for the fair recording and reporting of the WBG’s administrative expenses and fixed assets, which have a combined financial statement value of nearly $4.0B. This includes delivering core accounting services, maintaining an effective system of internal controls, and providing strategic leadership on complex business issues pertaining to the following administrative expenses and functions: (i) Travel Accounting, Accounts Payable, Fixed Asset and Lease Accounting, Quality Assurance and Country Office Accounting (together known as WFATA) (ii) Accounts Receivable, Payroll and Tax Allowance Administration and (iii) Helpdesk Operations (WFAAN)
WFAPA-The team in Chennai is responsible for the processing of Salary & Benefit payments to the Bank Group staff on a fortnightly basis. This includes ensuring proper controls over the entire process and adhering to the Bank’s policies and procedures. All tasks included in the payroll schedule need to be performed timely to ensure the accuracy of Payroll payments. While Chennai assumes the responsibility for delivering the services at the performance levels specified in the Service Level Agreement (SLA), HQ payroll engages in stakeholder management and projects.
Duties and Responsibilities:
Verify worklist transactions to ensure accuracy and completeness.
Review Retro Earnings/Deduction Reports, to verify accuracy and enter any necessary corrections.
Create Retro Earnings/Deduction, to generate retro earnings and deductions that were not included in the original report.
Peer Review of worklist and retro transactions.
Make changes to the staff’s paycheck based on the reviews and prepare adequate supporting documentation for the secondary reviewer to validate the manual change in the staff’s paycheck. The changes include but are not limited to, entering the data corresponding to Bretton Woods, Social Security, Continuation of Insurance, and 401K.
Review the exceptions listed on the Reports Optimization Dashboard and take appropriate action to correct the paychecks if necessary.
Review other manual reports to ensure the validity of the payments being made.
Send necessary information to staff and managers (such as memo to Managers regarding overtime payments that exceed Payrolls’ Control Threshold; overpayment letters notifying staff of the establishment of an account receivable).
Resolve issues with Systems that affect the closing/payment. These problems usually relate to data transfers from HR to Payroll and SRS to Payroll that could result in over/underpayment Eg. incomplete feeds from SRS, and insufficient/inconsistent data on the retro-reports.
Handle queries from staff through emails received on the service desk within the agreed Turn Around Time of 24 hours.
Update desk procedures for each business function wherever necessary.
Prepare off cycle:
Process salary advances to the staff who request payment in an alternate currency. Also for staff who are assignment or Telecommuting arrangement as approved by HR/Legal.
Continuously monitor all GL accounts and prepare periodic reconciliations relating to Payroll; follow up with clients and other units on aged and critical items
Be part of the team preparing monthly Trial Balances. Analyze and explain variances, and aged items in the GL accounts.
Provide inputs to Management Reporting and Analysis
Extract data from the source system (SAP/BI) to develop the data analytics/trends needed to support the unit’s ad-hoc reporting needs; prepare reports, as needed
Implement relevant accounting policies and ICFR requirements of the Team
Participate in the user testing (UAT) and implementation of any new systems, applications, tools, and reports for the team, to enhance efficiency, effectiveness, and standardization
Selection Criteria:
Undergraduate degree in accounting/finance/commerce from a reputable institution with a minimum of three years of relevant experience preferably with a multinational organization.
CA or CPA or ACCA (or an equivalent professional accounting qualification) is desirable but not mandatory.
Core technical knowledge and skills:
In-depth, detailed understanding of Payroll systems, preferably the PeopleSoft Payroll module and its control features and configuration capabilities (Global Payroll 9.1).
Experience in SAP FI system, Power BI, and Tableau tools is desirable.
Proficiency in Microsoft windows applications viz, Excel, Word, PowerPoint. Demonstrated ability to learn new technology quickly and effectively use it for maximum productivity.
Desirable to have experience in preparing aging analysis for open items, and trial balance reporting in a corporate environment.
Exhibit a personality that enables the incumbent to be client-focused, flexible, and an excellent team player. Ability to effectively work with other staff in the department and elsewhere in the Bank.
