Senior Pension Administration Assistant
Apply NowCompany: The World Bank Group
Location: Washington, DC 20011
Description:
Senior Pension Administration Assistant
Job #:
req32381
Organization:
World Bank
Sector:
Treasury
Grade:
GD
Term Duration:
3 years 0 months
Recruitment Type:
Local Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Preferred Language(s):
English
Closing Date:
4/4/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
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 and promoting shared prosperity. 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.
Innovation and partnership bond the five institutions of the World Bank Group (WBG): the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). The World Bank Group is one of the world's largest sources of funding and knowledge for developing countries. It uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth, and improve quality of life. To ensure that countries can access the best global expertise and help generate cutting-edge knowledge, the World Bank Group is constantly seeking to improve the way it works. Key priorities include delivering measurable results, promoting openness and transparency in development, and improving access to development information and data.
The World Bank Treasury ("Treasury", TRE) is the Vice Presidency performing treasury functions for the IBRD and for other members of the World Bank Group. Its activities are organized and grouped along three segments: asset management, banking and debt management, and capital markets services. Treasury has been a large and significant player in the international financial markets for more than fifty years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager. Treasury is responsible for: (i) managing more than $130 billion in assets for the World Bank and other official-sector investors; (ii) leading the World Bank's financing program in international and domestic bond and derivatives markets; (iii) conducting asset and liability management for the World Bank's balance sheet; (iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and (v) collaborating with the World Bank member countries to help build their capacity. Treasury's staff regularly interacts and collaborates with the other departments across the Bank and Finance Teams, including: Legal Finance (LEGFI), Controller's (CTR), Concessional Finance (CFP), WBG Chief Risk Analyst VPU (CRO) and WBG IT Finance (ITSFI).
The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group's funded benefit plans, including the retirement scheme - the Staff Retirement Plan, the retiree medical and life insurance programs - the Retired Staff Benefits Plan, and other ancillary benefits. The financial management includes asset management responsibilities and actuarial support. PEN manages approximately US$38 billion invested across a range of asset classes, including fixed income, public equities, private equity, real assets, private credit and absolute return strategies. The Pension Administration Division (PENAD) is part of PEN and has staff located in the Bank's offices in Washington, DC and Chennai, India. PENAD provides a full range of support functions for the administration of the Staff Retirement Plan (SRP) and the Post-Employment Benefit Plan (PEBP) and also provides some support services for the Retired Staff Benefits Plan (RSBP). These Plans cover approximately 17,000 active staff and over 11,000 retirees around the world. PENAD determines and administers payment of pension benefits to retirees in U.S. dollars and foreign currencies, accounts for the pension benefit payments, and provides a comprehensive educational program to disseminate the Staff Retirement Plan provisions to participants in the headquarters and country offices.
Roles & Responsibilities:
The Pension Administration Sr. Financial Assistant is a key member of the team. Work involves frequent interaction with internal counterparts in Treasury, Legal, Accounting/Tax, Human Resources and Information Technology.
Providing information related to the Staff Retirement Plan (the Plan) through in-person contacts, correspondence and telephone conversations with active staff members, retirees and other beneficiaries;
Preparing communication in response to enquiries by active staff and pensioners about the Plan with the objective enhancing the general level of understanding of benefits and estimates of potential benefits;
Assisting in the timely and accurate processing of pension related payments
Reconciling pension contributions of active staff and coordinating with the Payroll office to resolve any discrepancies.
Calculating pension benefit payments made under the Plan at the request of active participants and prepare certifications as requested by retired participants;
Computing and analyzing data related to pension benefits processing and projections;
Demonstrated ability to independently handle complex and diverse set of claims and enquiries and make decisions when multiple courses of action are possible. Be able to process, handle, and communicate matters of a sensitive and confidential nature.
Excellent interpersonal skills and mature judgment with the ability to deal tactfully and effectively with internal/external contacts at all levels in a multicultural environment.
Identifying systems problems and recommend enhancements; and
Interact with Treasury unit in investigation of discrepant payments
Undertaking such other ad hoc projects, special assignments and administrative duties as may be required
Selection Criteria
1) Minimum Education/Experience: Bachelor's degree in Business Administration or relevant field with over 5 years' experience in a large international organization, or equivalent combination of education and experience.
2) Experience in public/private financial institution or the finance function of a public/private corporation would be highly preferred. Prior experience with pension plan administration would be a plus
3) Hands-on familiarity with analytical tools and ability to translate theoretical concepts into practical approaches for Bank financial work
4) Thorough knowledge of Bank Group policies, procedures and practices, including a good understanding of those related to financial operations.
5) Excellent office technology skills, including experience with Peoplesoft, ServiceNow, SAP, Notes and Microsoft Office. Strong Excel skills will be an advantage.
6) Dedicated team player with excellent organization skills, proactive, keen attention to detail, and a demonstrated ability to handle a variety of concurrent activities in a timely manner with minimal supervision.
7) Excellent interpersonal and communication skills, with ability to interact tactfully in internal/external contacts at all levels, exercising good judgment in handling confidential and sensitive information.
8) Flexibility to perform a variety of tasks and expand the scope of work and responsibilities, with willingness to work overtime on short notice and committed to achieving individual and team results.
9) Highest ethical standards.
Competencies:
Records Management/Content Management on Web: Basic conceptual understanding of the principles underlying records management. Ability to identify the essence of the document, file it using the correct schema and route it to appropriate staff for further action.
Lead and Innovate
Applies critical thinking to current approaches, identifies areas for improvement, and tries new solutions that drive results. Considers own behavior in context of WBG's values and mission and recognizes impact one has on others. Operates in ambiguity and changing needs and supports others to do the same.
Deliver Results for Clients
Sets challenging goals that align with the WBG mission and is always looking to improve. Understands clients' most pressing challenges and contributes to solutions. Takes personal responsibility for producing high quality work, identifying and informing of risks, and delivering results for clients.
Collaborate Within Teams and Across Boundaries
Keeps others fully informed to ensure integration and work consistency and displays a sense of mutuality and respect. Approaches conflicts as common problems to be solved. Seeks and listens to input from others to inform own decision making and openly shares information. Frames thinking/actions with a WBG corporate perspective in mind.
Create, Apply and Share Knowledge
Contributes to the department's and WBG's body of knowledge by applying lessons learned and expertise. Actively invests in own knowledge and seeks feedback. Builds personal and professional networks within and beyond the work group.
Make Smart Decisions
Seeks and analyzes facts, data and lessons of past experience to support sound, logical decisions regarding own and others' work. Applies cost/benefit analysis to meet work program objectives. Contributes to decision making by providing relevant risk-analysis. Shows initiative when necessary, and makes decisions in a timely manner within own area of responsibility.
Records Management/Content Management on Web
Basic conceptual understanding of the principles underlying records management. Ability to identify the essence of the document, file it using the correct schema and route it to appropriate staff for further action.
**This internal requisition is open to WBG and IMF staff only (includingshort-term and extended term consultants/ temporaries). External candidates arerequested not to apply. In case an external candidate applies, theirapplication 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 #:
req32381
Organization:
World Bank
Sector:
Treasury
Grade:
GD
Term Duration:
3 years 0 months
Recruitment Type:
Local Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Preferred Language(s):
English
Closing Date:
4/4/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
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 and promoting shared prosperity. 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.
Innovation and partnership bond the five institutions of the World Bank Group (WBG): the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). The World Bank Group is one of the world's largest sources of funding and knowledge for developing countries. It uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth, and improve quality of life. To ensure that countries can access the best global expertise and help generate cutting-edge knowledge, the World Bank Group is constantly seeking to improve the way it works. Key priorities include delivering measurable results, promoting openness and transparency in development, and improving access to development information and data.
The World Bank Treasury ("Treasury", TRE) is the Vice Presidency performing treasury functions for the IBRD and for other members of the World Bank Group. Its activities are organized and grouped along three segments: asset management, banking and debt management, and capital markets services. Treasury has been a large and significant player in the international financial markets for more than fifty years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager. Treasury is responsible for: (i) managing more than $130 billion in assets for the World Bank and other official-sector investors; (ii) leading the World Bank's financing program in international and domestic bond and derivatives markets; (iii) conducting asset and liability management for the World Bank's balance sheet; (iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and (v) collaborating with the World Bank member countries to help build their capacity. Treasury's staff regularly interacts and collaborates with the other departments across the Bank and Finance Teams, including: Legal Finance (LEGFI), Controller's (CTR), Concessional Finance (CFP), WBG Chief Risk Analyst VPU (CRO) and WBG IT Finance (ITSFI).
The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group's funded benefit plans, including the retirement scheme - the Staff Retirement Plan, the retiree medical and life insurance programs - the Retired Staff Benefits Plan, and other ancillary benefits. The financial management includes asset management responsibilities and actuarial support. PEN manages approximately US$38 billion invested across a range of asset classes, including fixed income, public equities, private equity, real assets, private credit and absolute return strategies. The Pension Administration Division (PENAD) is part of PEN and has staff located in the Bank's offices in Washington, DC and Chennai, India. PENAD provides a full range of support functions for the administration of the Staff Retirement Plan (SRP) and the Post-Employment Benefit Plan (PEBP) and also provides some support services for the Retired Staff Benefits Plan (RSBP). These Plans cover approximately 17,000 active staff and over 11,000 retirees around the world. PENAD determines and administers payment of pension benefits to retirees in U.S. dollars and foreign currencies, accounts for the pension benefit payments, and provides a comprehensive educational program to disseminate the Staff Retirement Plan provisions to participants in the headquarters and country offices.
Roles & Responsibilities:
The Pension Administration Sr. Financial Assistant is a key member of the team. Work involves frequent interaction with internal counterparts in Treasury, Legal, Accounting/Tax, Human Resources and Information Technology.
Providing information related to the Staff Retirement Plan (the Plan) through in-person contacts, correspondence and telephone conversations with active staff members, retirees and other beneficiaries;
Preparing communication in response to enquiries by active staff and pensioners about the Plan with the objective enhancing the general level of understanding of benefits and estimates of potential benefits;
Assisting in the timely and accurate processing of pension related payments
Reconciling pension contributions of active staff and coordinating with the Payroll office to resolve any discrepancies.
Calculating pension benefit payments made under the Plan at the request of active participants and prepare certifications as requested by retired participants;
Computing and analyzing data related to pension benefits processing and projections;
Demonstrated ability to independently handle complex and diverse set of claims and enquiries and make decisions when multiple courses of action are possible. Be able to process, handle, and communicate matters of a sensitive and confidential nature.
Excellent interpersonal skills and mature judgment with the ability to deal tactfully and effectively with internal/external contacts at all levels in a multicultural environment.
Identifying systems problems and recommend enhancements; and
Interact with Treasury unit in investigation of discrepant payments
Undertaking such other ad hoc projects, special assignments and administrative duties as may be required
Selection Criteria
1) Minimum Education/Experience: Bachelor's degree in Business Administration or relevant field with over 5 years' experience in a large international organization, or equivalent combination of education and experience.
2) Experience in public/private financial institution or the finance function of a public/private corporation would be highly preferred. Prior experience with pension plan administration would be a plus
3) Hands-on familiarity with analytical tools and ability to translate theoretical concepts into practical approaches for Bank financial work
4) Thorough knowledge of Bank Group policies, procedures and practices, including a good understanding of those related to financial operations.
5) Excellent office technology skills, including experience with Peoplesoft, ServiceNow, SAP, Notes and Microsoft Office. Strong Excel skills will be an advantage.
6) Dedicated team player with excellent organization skills, proactive, keen attention to detail, and a demonstrated ability to handle a variety of concurrent activities in a timely manner with minimal supervision.
7) Excellent interpersonal and communication skills, with ability to interact tactfully in internal/external contacts at all levels, exercising good judgment in handling confidential and sensitive information.
8) Flexibility to perform a variety of tasks and expand the scope of work and responsibilities, with willingness to work overtime on short notice and committed to achieving individual and team results.
9) Highest ethical standards.
Competencies:
Records Management/Content Management on Web: Basic conceptual understanding of the principles underlying records management. Ability to identify the essence of the document, file it using the correct schema and route it to appropriate staff for further action.
Lead and Innovate
Applies critical thinking to current approaches, identifies areas for improvement, and tries new solutions that drive results. Considers own behavior in context of WBG's values and mission and recognizes impact one has on others. Operates in ambiguity and changing needs and supports others to do the same.
Deliver Results for Clients
Sets challenging goals that align with the WBG mission and is always looking to improve. Understands clients' most pressing challenges and contributes to solutions. Takes personal responsibility for producing high quality work, identifying and informing of risks, and delivering results for clients.
Collaborate Within Teams and Across Boundaries
Keeps others fully informed to ensure integration and work consistency and displays a sense of mutuality and respect. Approaches conflicts as common problems to be solved. Seeks and listens to input from others to inform own decision making and openly shares information. Frames thinking/actions with a WBG corporate perspective in mind.
Create, Apply and Share Knowledge
Contributes to the department's and WBG's body of knowledge by applying lessons learned and expertise. Actively invests in own knowledge and seeks feedback. Builds personal and professional networks within and beyond the work group.
Make Smart Decisions
Seeks and analyzes facts, data and lessons of past experience to support sound, logical decisions regarding own and others' work. Applies cost/benefit analysis to meet work program objectives. Contributes to decision making by providing relevant risk-analysis. Shows initiative when necessary, and makes decisions in a timely manner within own area of responsibility.
Records Management/Content Management on Web
Basic conceptual understanding of the principles underlying records management. Ability to identify the essence of the document, file it using the correct schema and route it to appropriate staff for further action.
**This internal requisition is open to WBG and IMF staff only (includingshort-term and extended term consultants/ temporaries). External candidates arerequested not to apply. In case an external candidate applies, theirapplication 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.