World Bank Group
Experience: 0 to 3 Years
Skill Required: HR and Admin
Apply By: 29-09-2022
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises.
The IFC’s Controllers Department is responsible for effectively and efficiently managing IFC’s Financial Operations (loan, equity and short-term finance operations, and back-office treasury support operations), Financial Reporting (including reporting and analysis, portfolio review, investment accounting and accounting policy), Internal Controls, and Financial Systems, Integration and Projects. The Department comprises approximately 125 diverse and highly skilled staff, based in Washington DC, and Chennai.
The Loan and Equity Operations units (CNTLO-EC) within the Controllers Department have overall responsibility for recording, servicing, and providing post-commitment support for the private sector loan, guarantee, short term finance products and programs, and the equity investments of the International Finance Corporation.
The CNTLO-EC units provide financial operations support and services to the IFC Investment Departments, counterparts, internal and external financial and investment reporting units, syndication and treasury units, and portfolio management units, in the administration and management of all IFC Loan, Guarantee, Equity, and Donor-Trust Funds financial operations. The units ensure that loan and guarantee agreements, equity investments, and donor-trust-fund investments are recorded accurately and timely in the Corporation’s systems of record and general ledger. The units support all disbursements activities (e.g., call of funds, transfer of funds to clients, booking of disbursement data in systems of record) and all ongoing servicing functions over the life cycle of each investment, e.g. fee, interest and principal invoicing; repayment processing; specialized loan functions such as loan restructurings; equity sales and corporate actions.
The units play a key role in the decision-making for, and implementation of, IT systems and upgrades, as well as in the implementation of new initiatives and financial products to ensure that data is recorded accurately and timely.
CNTLO/EC has co-located some aspects of its work program to IFC’s Chennai Office (CNTCO), who have recruited staff in the IFC Financial Operations Support team (CNTFC) to deliver this work program. The team provides support and interacts with IFC colleagues in Washington on a day–to–day basis. The Consultant (ETC) shall interact extensively with internal partners, such as Loan Operations counterparts, Trust Funds Middle Office, IT teams, Cash Settlement unit, and IFC Financial Reporting team. The ET Consultant will report to the Team Lead of CNTFC Loan & Equity unit in Chennai. The individual must be a self-starter in identifying and undertaking projects or initiatives
Duties & Responsibilities:
Selection Criteria
Source: https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=19053&site=1