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World Bank recruits Financial Officer, Financial Management for Chennai, India under Local Hire

World Bank

Job # 101073

Job Title – Financial Officer

Job Family – Financial Management

Location – Chennai, India

Appointment – Local Hire

Job Posted – 18-May-2010

Closing Date – 01-Jun-2010

Language Requirements – English [Essential]

Appointment Type

Background / General description
The Corporate Finance Department (CFRCF) of the International Bank for Reconstruction and Development (IBRD), the arm of the World Bank Group that serves Middle Income Countries is composed of four teams with staff at both HQ and Chennai.

The Policy team manages IBRD’s capital and earnings in line with the institution’s financial policies and development objectives. The department supports senior management and the Board in: monitoring the Bank’s income and balance sheet variables and their vulnerability; gauging the capital needed to cover Bank’s risks; developing strategies for optimal use of capital; and facilitating decision-making on issues of income allocation, financial product pricing and capital structure and adequacy.

The Market and Credit Risk teams are responsible for oversight of market, liquidity and counterparty credit risks in IBRD’s financial operations, supporting Board and senior management decision-making on financial risks. The department monitors ongoing financial activities, market conditions and trends and financial positions in the context of Bank risk limits and oversees internal risk management and measurement activities; monitors compliance with approved guidelines, limits and risk tolerances; identifies strategic or policy gaps which could lead to inadvertent risk taking; and validates risks and performance measures.

The Risk Analytic Team is accountable for in-depth financial analysis, and the development and maintenance of the related financial risk management models and tools to support the successful execution of above responsibilities.

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 2 year renewable term appointment.

Duties and Accountabilities

The Financial Officer will have responsibilities for specific individual tasks/projects as well as operating as Chennai team lead of the local CFRCF team of professionals in coordinating and executing the assigned work program, while maintaining close relationships with the other CFRCF team based in Washington. The primary responsibilities will include some combination of the activities listed below.

In addition to the Team coordination role, the Financial Officer will be part of the Risk Analytic Team for which she/he will report to the Manager of Risk Analytics Team. She/he is expected to work independently, at the same time, will work closely with other members of the Corporate Finance Department in a dynamic team environment as well as with colleagues across the Finance Complex.

Key areas of responsibility include:

Coordination & Leadership of the CFRCF based team

• Under the guidance of the Washington Team Leads, facilitate management of work program of Corporate Finance team in Chennai. Help develop structured, functional approaches to meeting unit priorities;

• Identify problems and opportunities for improvements in current processes and work with HQ teams to implement solutions. Serves as local immediate finance professional resource with respect to complex problems;

• Liaise with Washington DC colleagues and CFRCF clients ensuring timely and comprehensive lines of communication;

• Provide expert knowledge and assistance to the other team members;

• Build effective working relations with clients and colleagues, both as a team leader and team member, to achieve results;

• Lead, coach, manage performance, motivate the team and deal with all administrative issues concerning the day to day functioning of the team.

• Create an environment conducive to teamwork, learning and knowledge sharing, collaboration, and promotes open communication

Risk Analytics duties

• Ensure quality and integrity of input data, models and analytical and projection results.

• Understand, analyze and model the drivers of key financial risks and their implications

• Gather and analyze information from Bank systems and provide recommendations to address and resolve business issues.

• Identify and execute new calculations, methodologies, metrics and other model improvements; research and propose solutions; develop smaller scale prototypes; create algorithms or other financial code to support new calculations and reports.

• Develop quantitative forecasting models and methodologies and advise on model alignment with policies and products.

• Perform in-depth and ad hoc quantitative analysis to support risk management decisions.

• Bring together knowledge from internal business experts, as well external sources to formulate (elicit, analyze, communicate and validate) high level and functional requirements for enhanced model functionality. Coordinate testing of new capabilities, training and implementation.

• Develop and maintain key financial risk management tools and infrastructure (e.g., spreadsheets, databases, models) used to support decision-making and reporting.

• Play a key role in improving processes and controls, data quality, systems automation,

Selection Criteria
• Master’s degree in Finance or related field and a minimum of 5 years’ relevant experience in one or more professional disciplines, or equivalent combination of education. A professional certification such as CFA, CPA, FRM, and PRM is a plus.

• Working knowledge of finance including corporate finance, market and credit risk, valuation, modeling, and financial policy and risk management.

• Demonstrated ability to conceptualize and problem-solve in cross-cutting financial issues.

• Strong ability to design, develop, and comment on financial modeling of varying degrees of complexity.

• Proven financial and analytical skills from previous professional experience and/or academic background including knowledge of financial modeling techniques and ability to digest, analyze effectiveness of policies, methodologies, product parameters and other financial risks

• Proven quantitative and qualitative analytical skills, including excellent spreadsheet skills. Familiarity with financial modeling techniques and writing Macros, VBA, Access/SQL, data analysis and Bloomberg will be a plus.

• Familiarity with systems and data bases is highly desirable.

• Highly organized, attention to detail and accuracy, ability to plan and carry out analysis in a systematic, structured and timely manner.

• Demonstrated ability to work independently and proactively, to multi-task, to deliver high quality work outputs quickly, and to effectively prioritize and adapt to competing and unexpected demands.

• Demonstrated strong interpersonal skills: to interact and collaborate effectively with colleagues, to mentor and coach junior staff;

• Quick learner with initiative and drive

• Models behavior that promotes inclusiveness, teamwork, and highest ethical standards.

• High level of initiative, self-confidence and a self-starter; proven problem-solving skills, ability to deliver high quality results and operate with minimum supervision.

• Ability to work across organizational boundaries and to function effectively both as a member of broader teams and as a leader on specific tasks.

• Excellent communication skills with ability to lead discussions and present findings in written and verbal form to a few or many. Ability to express complex analysis on the wide range of financial issues concisely and on short notice

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