Financial Officer
Apply NowCompany: The World Bank Group
Location: Washington, DC 20011
Description:
Financial Officer
Job #:
req31881
Organization:
World Bank
Sector:
Operations
Grade:
GF
Term Duration:
4 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Preferred Language(s):
Closing Date:
2/24/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
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. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org
Background /General Description:
The Development Finance Vice-Presidency (DFi) is responsible for the management and monitoring of policies, procedures, and resources for the World Bank's development financing vehicles. DFi sets the policy framework for the World Bank Group's development finance by engaging in strategic resource mobilization, playing an intermediation role to help align the needs of recipients, WBG institutional priorities, and priorities of funding partners, through a variety of funding instruments. These include the International Development Association (IDA), the World Bank's fund for the poorest, the International Bank for Reconstruction and Development (IBRD), and Trust Funds, including Financial Intermediary Funds (FIFs).
Given the nature and variety of this portfolio, DFi works closely with the President's office, Executive Directors, WBG senior management, corporate and operations units across the WBG, funding partners and government officials. As such, DFi is structured to provide the institution with a more holistic approach to financing, financial policy, and strategic fundraising across IDA, IBRD, and Bank/IFC trust funds and partnerships.
Within DFi, Development Finance Trust Funds and Partner Relations (DFTPR) Department is at the forefront of the Bank's engagement on Trust Funds, FIFs, cofinancing and partner relations. The Department is responsible for managing and administering the almost US$50 billion portfolio of Trust Funds and FIFs, designing and establishing new, multi-donor partnership initiatives underpinned by Trust Funds and FIFs, and setting the policy and procedural framework for Trust Funds, FIFs and Partnerships in a manner they complement IDA and IBRD.
DFTPR comprises of two units - i) Trust Funds Policy and Partner Relations, and ii) FIFs, Digital and Analytics (subsumed under the title of "Financial Management"). The Evolution Roadmap of the World Bank, with its concurrent focus on the financial model and the operational model, has presented several new opportunities for DFTPR and entailed that the work program of the department is expected to pivot towards new ways of functioning and responding to new challenges. These include inter alia an enhanced focus on cofinancing in the public sector, developing new partnerships such as with more expansive sovereign and non-sovereign entities, responding to expectations of financial innovations in the management of FIF portfolios, resultant tweaks and changes to the policies on trust funds and FIFs, as well as increased demands for data and analytics. In addition, with the global attention to the reform of MDBs, WBG trusts funds and FIFs are in the public eye in ways that they were not previously. This requires an understanding of external and internal communications, an appreciation of how trust funds and FIFs work operationally and how they are linked to the broader landscape of the WBG's work and ultimately, their impact on the ground.
Duties and Accountabilities:
DFTPR is seeking an experienced Financial Officer to join its Trust Fund Policy and Partner Relations unit (TFPPR). The incumbent will be based in Washington DC, the United States, and report to the TFPPR Manager. S/he works under the day-to-day guidance of the Team Leader, Risk Management team.
S/he is expected to be responsible for the following tasks and duties:
1. Support the Team Leader and the Risk Management team on various EU audits and reviews (Verifications, Residual Error Rate Studies, European Court of Auditor's Audits). More specifically:
- Coordinate EU audits and reviews on EU funded trust funds working with Bank's operational task teams and other corporate units, which include:
o Providing support and guidance to Bank's operational task teams during the audit and review process.
o Collecting necessary audit supporting documents from the task teams and other corporate units (e.g., WFA, HR, Corporate Procurement) and reviewing them for appropriateness, quality and risk exposure.
o Maintaining formal communication and sharing collected documents with the EC or EC Auditors.
o Working with the Team Leader and resolving complex audit issues.
- Provide support to the Team Leader on overarching agenda related to EU audits and reviews.
- Contribute to learning and knowledge sharing agenda for Risk Management team (e.g., BBLs, Governance Forum, TF Academy).
- Other duties and tasks as specified by the Team Leader.
2. Handle disclosure to donors of fraud and corruption cases involving Trust Funds. More specifically:
- Attend regular regional briefing meetings on behalf of DFi, collaborating with INT Regional Team Leaders, and provide advice to the DSO and relevant stakeholders regarding the impacted substantive donors to Trust Funds and FIFs.
- Ensure timely follow-up on disclosure cases, review and provide feedback on regional meeting minutes, assess disclosure briefs suitable for donor communication, and handle other confidential documents shared by INT, such as FIRs.
- Facilitate donor disclosures in alignment with agreed protocols.
- Act as a liaison with INT colleagues, offering informed responses to investigations related to Trust Funds and FIFs funding.
- Address ad hoc inquiries and provide detailed insights into donors' overall contributions as may be requested by INT.
3. Provide back-up support to other members of the team, as required. In particular, the incumbent will provide back-up support to the due diligence for donor partners, which includes providing guidance to business units on the upstream due diligence reviews when on-boarding of new donors.
4. Other duties and tasks as specified by the Manager, TFPPR, as required.
Selection Criteria
Advanced degree in development economics, public policy, finance, management, accounting or other related fields, and minimum 5 years of relevant experience; or comparable combined education and experience.
CPA/CA qualification and external audit experience are strongly desired.
Understanding of Bank's governance and internal control frameworks and/or risk management principles and concepts.
Familiarity with Bank's systems (e.g. SAP, MyTF, DPC, WBDocs).
Experience in liaising with external auditors about financial/compliance issues would be a plus.
High degree of accuracy and attention to numerical and other details.
Good knowledge of Bank trust fund policies, procedures and practices.
Familiarity with or experience in interacting with trust fund donors.
Good understanding of key Bank financing instruments, and how they complement each other (IDA, IBRD, Trust Funds, and FIFs).
Ability to solve complex problems, and willingness to reach out to others to help find practical solutions to challenging operational issues.
Proven track record as an effective team player.
Demonstrated ability to work across organizational boundaries with corporate units and operational units, and strong integrator skills.
Excellent written and verbal communication skills with demonstrated ability to think strategically and synthesize complex issues.
Proven ability and flexibility to multitask, meet deadlines, provide quality outputs, and attend to details while maintaining an overview of the Trust Fund business.
Must be able to anticipate and react promptly to competing demands.
High degree of professional integrity, discretion, tact, and sensitivity in dealing with confidential information.
Demonstrated maturity and sound judgment.
If the selected candidate is a current World Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain her/his Regular or Open-Ended appointment. All others will be offered a 4 years 0 months term appointment.
This internal requisition is open to WBG and IMF staff only (including short-term and extended term consultants/ temporaries). External candidates are requested not to apply. In case an external candidate applies, their application will not be considered.
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.
Job #:
req31881
Organization:
World Bank
Sector:
Operations
Grade:
GF
Term Duration:
4 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Preferred Language(s):
Closing Date:
2/24/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
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. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org
Background /General Description:
The Development Finance Vice-Presidency (DFi) is responsible for the management and monitoring of policies, procedures, and resources for the World Bank's development financing vehicles. DFi sets the policy framework for the World Bank Group's development finance by engaging in strategic resource mobilization, playing an intermediation role to help align the needs of recipients, WBG institutional priorities, and priorities of funding partners, through a variety of funding instruments. These include the International Development Association (IDA), the World Bank's fund for the poorest, the International Bank for Reconstruction and Development (IBRD), and Trust Funds, including Financial Intermediary Funds (FIFs).
Given the nature and variety of this portfolio, DFi works closely with the President's office, Executive Directors, WBG senior management, corporate and operations units across the WBG, funding partners and government officials. As such, DFi is structured to provide the institution with a more holistic approach to financing, financial policy, and strategic fundraising across IDA, IBRD, and Bank/IFC trust funds and partnerships.
Within DFi, Development Finance Trust Funds and Partner Relations (DFTPR) Department is at the forefront of the Bank's engagement on Trust Funds, FIFs, cofinancing and partner relations. The Department is responsible for managing and administering the almost US$50 billion portfolio of Trust Funds and FIFs, designing and establishing new, multi-donor partnership initiatives underpinned by Trust Funds and FIFs, and setting the policy and procedural framework for Trust Funds, FIFs and Partnerships in a manner they complement IDA and IBRD.
DFTPR comprises of two units - i) Trust Funds Policy and Partner Relations, and ii) FIFs, Digital and Analytics (subsumed under the title of "Financial Management"). The Evolution Roadmap of the World Bank, with its concurrent focus on the financial model and the operational model, has presented several new opportunities for DFTPR and entailed that the work program of the department is expected to pivot towards new ways of functioning and responding to new challenges. These include inter alia an enhanced focus on cofinancing in the public sector, developing new partnerships such as with more expansive sovereign and non-sovereign entities, responding to expectations of financial innovations in the management of FIF portfolios, resultant tweaks and changes to the policies on trust funds and FIFs, as well as increased demands for data and analytics. In addition, with the global attention to the reform of MDBs, WBG trusts funds and FIFs are in the public eye in ways that they were not previously. This requires an understanding of external and internal communications, an appreciation of how trust funds and FIFs work operationally and how they are linked to the broader landscape of the WBG's work and ultimately, their impact on the ground.
Duties and Accountabilities:
DFTPR is seeking an experienced Financial Officer to join its Trust Fund Policy and Partner Relations unit (TFPPR). The incumbent will be based in Washington DC, the United States, and report to the TFPPR Manager. S/he works under the day-to-day guidance of the Team Leader, Risk Management team.
S/he is expected to be responsible for the following tasks and duties:
1. Support the Team Leader and the Risk Management team on various EU audits and reviews (Verifications, Residual Error Rate Studies, European Court of Auditor's Audits). More specifically:
- Coordinate EU audits and reviews on EU funded trust funds working with Bank's operational task teams and other corporate units, which include:
o Providing support and guidance to Bank's operational task teams during the audit and review process.
o Collecting necessary audit supporting documents from the task teams and other corporate units (e.g., WFA, HR, Corporate Procurement) and reviewing them for appropriateness, quality and risk exposure.
o Maintaining formal communication and sharing collected documents with the EC or EC Auditors.
o Working with the Team Leader and resolving complex audit issues.
- Provide support to the Team Leader on overarching agenda related to EU audits and reviews.
- Contribute to learning and knowledge sharing agenda for Risk Management team (e.g., BBLs, Governance Forum, TF Academy).
- Other duties and tasks as specified by the Team Leader.
2. Handle disclosure to donors of fraud and corruption cases involving Trust Funds. More specifically:
- Attend regular regional briefing meetings on behalf of DFi, collaborating with INT Regional Team Leaders, and provide advice to the DSO and relevant stakeholders regarding the impacted substantive donors to Trust Funds and FIFs.
- Ensure timely follow-up on disclosure cases, review and provide feedback on regional meeting minutes, assess disclosure briefs suitable for donor communication, and handle other confidential documents shared by INT, such as FIRs.
- Facilitate donor disclosures in alignment with agreed protocols.
- Act as a liaison with INT colleagues, offering informed responses to investigations related to Trust Funds and FIFs funding.
- Address ad hoc inquiries and provide detailed insights into donors' overall contributions as may be requested by INT.
3. Provide back-up support to other members of the team, as required. In particular, the incumbent will provide back-up support to the due diligence for donor partners, which includes providing guidance to business units on the upstream due diligence reviews when on-boarding of new donors.
4. Other duties and tasks as specified by the Manager, TFPPR, as required.
Selection Criteria
Advanced degree in development economics, public policy, finance, management, accounting or other related fields, and minimum 5 years of relevant experience; or comparable combined education and experience.
CPA/CA qualification and external audit experience are strongly desired.
Understanding of Bank's governance and internal control frameworks and/or risk management principles and concepts.
Familiarity with Bank's systems (e.g. SAP, MyTF, DPC, WBDocs).
Experience in liaising with external auditors about financial/compliance issues would be a plus.
High degree of accuracy and attention to numerical and other details.
Good knowledge of Bank trust fund policies, procedures and practices.
Familiarity with or experience in interacting with trust fund donors.
Good understanding of key Bank financing instruments, and how they complement each other (IDA, IBRD, Trust Funds, and FIFs).
Ability to solve complex problems, and willingness to reach out to others to help find practical solutions to challenging operational issues.
Proven track record as an effective team player.
Demonstrated ability to work across organizational boundaries with corporate units and operational units, and strong integrator skills.
Excellent written and verbal communication skills with demonstrated ability to think strategically and synthesize complex issues.
Proven ability and flexibility to multitask, meet deadlines, provide quality outputs, and attend to details while maintaining an overview of the Trust Fund business.
Must be able to anticipate and react promptly to competing demands.
High degree of professional integrity, discretion, tact, and sensitivity in dealing with confidential information.
Demonstrated maturity and sound judgment.
If the selected candidate is a current World Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain her/his Regular or Open-Ended appointment. All others will be offered a 4 years 0 months term appointment.
This internal requisition is open to WBG and IMF staff only (including short-term and extended term consultants/ temporaries). External candidates are requested not to apply. In case an external candidate applies, their application will not be considered.
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.