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World Bank is looking for Finance Analyst- Nairobi/Kenya

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World Bank is looking for Finance Analyst- Nairobi/Kenya

Job #:req2152
Sector:Finance & Accounting
Grade:GE
Term Duration:3 years 0 months
Recruitment Type:Local Recruitment
Required Language(s):English, Portuguese
Preferred Language(s):French

Description

About the World Bank Group:

Established in 1944, the WBG is one of the world’s largest sources of funding and knowledge for development solutions. In fiscal year 2018, the WBG committed $67 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $24 billion was concessional finance to its poorest members. It is governed by 188-member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.

The WBG consists of five specialized institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). The World Bank is organized into six client-facing Regional Vice-Presidencies, several corporate functions and thirteen Global Practices to bring best-in-class knowledge and solutions to regional and country clients.

The WBG Finance & Accounting (WFA) Vice Presidential Unit is responsible for all aspects of the financial reporting and internal control framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the extensive Trust Fund/Partnership portfolio of these entities. WFA also leads the client shared service function for the WBG corporate expenses and WBG trust funds and ensures fiduciary responsibility for all disbursements related to Bank operations.

WBG Trust Fund and Loan Operations Department (WFATL) in the WFA Vice Presidential Unit provides a number of financial operation activities for IBRD/IDA loans and Trust Funds, notably financial services, compliance, disbursements, accounting and analytics.

WFA Client Services (WFACS) is a Unit within WFATL that is devoted to providing “front-end” client services and related operations to clients and is organized along business lines serving the regions and global practices. The services within WFACS’s area of responsibilities fall under three categories: regional coordination; country focal point assistance; and project-level fiduciary and portfolio management.

WFACS is seeking a proactive, highly-motivated Finance Analyst (FN) to be integral and active member of its client service team to be based in Nairobi, Kenya.

Duties and Accountabilities:

The Financial Analyst’s (FN’s) primary responsibilities will include, but are not limited to the following activities:

Technical:

  1. Act as the country focal point for assigned countries in collaboration with the country Finance Officer (FO), at country level.
  2. Collaborate with the FOs in the following components of the work program pertaining
    to client support and technical assistance: Country Portfolio Performance Review (CPPR); Country Partnership Strategy (CPS); Participation in project launches; and providing input to the Implementation Status Reports (ISRs).
  3. Collaborate with Finance Officers (FOs) on fiduciary review of loan preparation documents.
  4. Manage project preparation from Concept Note to Effectiveness, as assigned, for low-risk projects.
  5. Prepare level two (level one at FO direction) loan restructuring packages and clear in the Operations (Ops) portal.
  6. Provide input to FOs on Withdrawal Application Quality Risk (WAQR).
  7. Provide advice during project implementation to address fiduciary and fund-flow related issues based on a risk assurance framework.
  8. Provide loan information and analyses to assist in decision-making.
  9. Evaluate the results of both the reviews of transactions and the portfolio management work to identify areas where borrowers have capacity constraints and to assist in decision-making on the type of capacity-building that should be provided to clients.
  10. Provide monthly inputs to the Client Relationship Management (CRM) Dashboard (managed by corporate services, reporting) on the status of disbursements and the performance of the portfolio for each Country Management Units (CMUs).
  11. Provide capacity building and technical support to clients on the Bank’s disbursement policies and procedures through face-to-face workshops, video conferences, e-mails and ad-hoc discussions resulting from reviews of transactions, missions etc.
  12. Utilize the available online tools and experts in the Community of Expertise (COE) to build knowledge through discussion groups, posting of aide memoires, leave and mission plans, training materials and guidance notes.
  13. Monitor inactive Project Designated Accounts (DAs) and liaise with clients to ensure that DA balances are promptly documented or refunded.
  14. Implement actions to ensure that loans are closed promptly on the due dates.
  15. Process the logging and resolution of ineligible expenditures in the system, including
    following up with clients to ensure ineligible expenditures are duly refunded.
  16. Manage e-disbursement account setup and the related queries from clients.
  17. Update loan data in the system for information such as: Master Data Setup; category overdraw; clearance of sanctioned and debarred firms; changes to Designated Account ceilings; fulfilment of Loan Effectiveness Conditions; loan Closing Date extensions; reallocation of category amounts; etc.
  18. Perform ex-ante and ex-post review of withdrawal applications, including Special Commitments, and the related supporting documentation and sign off the withdrawal applications, as appropriate. Promptly liaise with clients to resolve any potential issues or exceptions noted in the processing of transactions.
  19. Perform the Release function for withdrawal applications, as applicable.
  20. Review and process cancellations, refunds, adjustments, returned payments, beneficiary registration forms (BRFs); Interim Financial Reporting (IFR) advances; and the refinancing of Project Preparation Advances (PPAs).
  21. Appropriately handle other tasks that may be assigned by the Senior Regional Team Leader (TL).

Relationship:

  •  Serve as a solution provider for advice to internal clients (task teams, financial management specialists, procurement specialists and lawyers) on preparation and implementation issues in the assigned countries.
  • Engage and advise external clients on the processes and procedures required in order to efficiently utilize the eDisbursement system.
  • Log and track the identification and resolution of client queries through the AskLoans Helpdesk / CRM tool.

Selection Criteria:

The candidate should meet the following criteria:

Minimum Education:

  1. A Bachelor’s degree in Accounting, Finance or Business; and any one or more of:
    (i) A professional certification (fully qualified as CPA, ACCA, CA, CFA or equivalent); or
    (ii) a Master’s degree in Accounting, Finance or Business; or
    (iii) a combination of adequate and direct relevant work experience in lieu of a professional certification / Master’s degree.

Work Experience:

  • At least 5 years of relevant experience in portfolio management, project operations accounting, auditing and/or contract management.
    •  Ability to communicate effectively, in writing and orally, in both Portuguese and English is required. Ability to communicate effectively in French is desirable.
    •  Relevant knowledge of Generally Accepted Accounting Principles (GAAP), internal controls and financial management.
    •  Knowledge and application of the Bank’s Operational Policies and Procedures and how they relate to disbursements and loan portfolio management.
    •  Ability to exercise professional judgment and appropriately interpret and apply operational policies, as they relate to disbursements and loan portfolio management.
    •  Knowledge of the Bank’s IBRD and IDA lending products.
    •  Strong quantitative skills with superior attention to detail and numerical accuracy.
    •  Strong analytical and conceptual skills with demonstrated ability to interpret data, assess issues, develop sound conclusions and formulate remedial measures.
    •  Ability to manage complex tasks, deal with rapidly shifting priorities, provide professional support to senior staff and deliver against ambitious deadlines.
    •  Capacity to work simultaneously, effectively and efficiently on a variety of diverse issues and tasks, independently adjusting priorities and achieving results with agreed objectives and deadlines.
    •  Ability to operate effectively in a matrix management environment.
    •  Strong client focus including good interpersonal, diplomatic and team building skills required for building and maintaining collaborative relationships.
    •  Willingness to travel on mission and short-term assignments.

Key Competencies

The preferred candidate must demonstrate the following competencies:

  •  Deliver Results for Clients: Contributes to delivery of results for client on complex issues.
    •  Collaborate within Teams and Across Boundaries: Keeps others fully informed to ensure integration and work consistency.
    •  Willingness to work in different time zones – Given that the department is co-located in multiple cities in different time zones, candidates must be willing to work in different time zones especially the United States of America Eastern Standard (EST) time zone on an ‘as-needed’ basis.
    •  Lead and Innovate: Brings new and different insights.
    •  Create, Apply, and Share Knowledge: Actively contributes to and readily applies WBG’s body of knowledge for client solutions.
    •  Make Smart Decisions: Leverages available data and makes timely decisions.
    •  Client Understanding: Looks at issues from the client’s perspective and takes action beyond normal expectations to ensure client satisfaction.
    •  Broad Business Thinking: Maintains an in-depth understanding of the long-term implications of decisions both for the department and the client’s business.
    •  Project Management: Demonstrates a practical knowledge of project management principles and techniques.
    •  Analytical Thinking: Interprets data and reviews for non-conformity and gathers further information in response to problems.
    •  Policies and Procedures: Seeks out opportunities to further the understanding / improvement of relevant policies and guidance.
    •  Risks and Controls: Demonstrates good understanding of risks and internal control procedures pertaining to various activities in own functional areas.
    •  Information Technology and Systems: Leverages information technology systems and applications to improve productivity and efficiency.
    •  Communication: Utilizes appropriate tools and techniques to explain technical information in plain language.

The World Bank Group values diversity and encourages all qualified candidates who are nationals of World Bank Group member countries to apply, regardless of gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.  Sub-Saharan African nationals, Caribbean nationals, and female candidates are strongly encouraged to apply.

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