The Finance Analyst (FN) is a member of Loan Operations Division of the Controller’s Loan Department. FNs contribute to various team responsibilities, such as disbursement transaction and analysis, project management and capacity building. The FNs plays an important role in ensuring the financial accountability of borrowers/recipients, specifically that loan proceeds are used for the purposes intended and are eligible in accordance with the World Bank policies and procedures. The FN might be requested to contribute to Department or corporate initiatives. The position requires strong accounting and auditing skills. The FN provides technical support to the financial assistant and reports to the Regional Center Team Leader.
Duties and Accountabilities
Disbursement Transaction Processing/Portfolio Management
Departmental/ Divisional Tasks
- Analyze and determine the appropriateness of borrowers’/recipients’ requests for disbursements and the supporting documentation and compliance with the World Bank’s policies and the provisions of the legal agreements and related documents
- Provide first level approval of requests from borrowers/recipients for payments
- Ensure prompt and accurate entry/updating of the financial master data of all loans/credits/grants
- Perform loan portfolio management, such as loan closing, extension, designated account management among others
- Respond to questions regarding payments, disbursement procedures, and other financial matters
- Identify issues and systemic problems relating borrower capacity and provide/recommend corrective measures
- Provide direction to the Finance Assistant working in his/her country portfolio
- Provide training to operations and financial management staff of borrowers and World Bank country offices in the region
- Answer questions from Task Team Leaders, borrowers, commercial banks, and suppliers on payments, balances, and application status.
Work implies frequent interaction with the following:
- Participate in departmental/divisional task forces;
- Identify issues relating to CTR policies, procedures and guidelines and recommend actions or enhancements;
- Participate in new systems development and user testing;
- Undertake ad-hoc assignments at the discretion of the Team Leader and/or Manager.
- Counterparts within and across sectors, networks especially OPCS (Financial Management, Procurement, and Operational Services), Regional staff, Information Solutions Group, Treasury, Legal, and other units integral to delivery of business objectives.
- Counterparts in government and project implementation units and in a variety of international and professional organizations.
- University degree (BA/BS) in business, accounting, finance and/or related field and preferably has a professional accounting qualification (CA/CPA).
- Minimum of five years experience in project accounting, auditing and contract management.
- Knowledge of government funds flow, accounting and auditing systems are desirable.
- Familiarity with World Bank policies and practices related to disbursement and procurement is an advantage.
- Ability to review, analyze and evaluate financial information and make recommendations concerning, inter alia, the eligibility of expenditures and adherence to the Bank’s policies and procedures.
- Attention to detail and numerical accuracy while managing multiple tasks and projects.
- Ability to deal with rapidly shifting priorities and work demands, and willingness to learn new skills and seek help from colleagues, as well as coach, mentor and develop more junior staff.
- Excellent team player with a strong client and results orientation, capable of working within a multicultural environment but also independently, with minimum supervision.
- Excellent written and verbal communication skills in English is essential.
- Good computer skills, understanding of information systems and application of new technologies.
- Willingness to travel on short-term assignments.
The World Bank - 2 years ago
Collectively known as the World Bank, the International Bank for Reconstruction & Development (IBRD) and its sister organization the Int...