E T Consultant

Req# : Req27607

Application Deadline : 27th May 2024

Description

Do you want to build a career that is truly worthwhile Working at the World Bank provides a unique opportunity for you to join us to help our clients solve their greatest development challenges. The World Bank (WB) is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions (IBRD, IDA, IFC, MIGA, and ICSID) dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development on a livable planet. 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.

The WB Finance & Accounting (WFA) Vice Presidency is responsible for all aspects of the financial reporting and internal control framework for IBRD and IDA, and the extensive Trust Fund/Partnership portfolio of the WB entities. It supports an appropriate fiduciary control framework and administering disbursements for Bank lending and leads the client service function for the WB's corporate expenses.

Organizationally, WFA is comprised of three departments: (1) Corporate Accounting and Reporting, (2) Trust Funds and Loans, and (3) Financial Controls. In WFA, our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.

WFAPA:

Within WFA, WFA Accounts Receivable, Payroll and Tax division (WFAPT in HQ and WFAPA in Chennai) is responsible for ensuring that (i) accounts receivable are recorded, monitored, and collected in a timely and efficient manner, (ii) salary and benefit payments to the WBG staff are processed in a timely and efficient manner, and (iii) tax allowances to the WBG staff and retirees are processed in a timely and efficient manner. It also provides strategic leadership and guidance to business units across the WBG on developing and maintaining an effective system of internal controls over AR, payroll, and tax.

The WFAPA is currently seeking an Extended Term Consultant for its Accounts Receivable team in Chennai. The Accounts Receivable Portfolio consists of External Receivables (ERS) such as Reimbursable Advisory Services (RAS), Externally Financed Output (EFO) etc., Internal Receivables, and Staff Receivables (SRS). The team is also responsible for monitoring and managing accounting activities of the Admin Revenue area.

How your contributions will help us achieve our goals

The Extended term Consultant will partake in multiple areas of responsibilities which include managing Accounts Receivable Portfolio and Trial Balance Reporting to enable the smooth flow of processes in close coordination with the HQ team. The Extended Term Consultant will assist the team to complete the defined tasks within the prescribed time frame and procedures. The consultant will also coordinate with HR/ BPS/Treasury/Country Offices/Information and Technology Solutions Group (ITS) based on the process requirements.

The Extended Term Consultant will report to the Accounting officer.

What you will do

Manage staff receivables and loans disbursed to all World Bank group staff members at Headquarters and Country Offices.

Provide technical guidance to accounting issues that relate to the PeopleSoft Staff Receivables System (PS-SRS), staff loan disbursements and prepayments transactions.

Assist and coordinate with ITS in researching, analyzing, and resolving accounting issues in various applications such as PS-SRS and SAP.

Generate, collate, compile, and submit reports related to staff loan and receivable accounts as may be required / requested from time to time.

Ensure timely release of transactions to the Payroll system and SRS accounting; Review the key SRS and Payroll reports and take appropriate action before payroll close; Work closely with Payroll, HR, and Country Office staff to resolve collection issues.

Ensure the correctness of accounting for External and Inter-Company Receivables and follow up with clients for collection.

Review open items in suspense accounts and aging schedules for both staff and external receivables and ensure that amounts due to the Bank are collected promptly. Analyze monthly external revenues and respond to the pertinent queries.

Review monthly Trial Balance for Accounts Receivable and ensure timely submission.

Review monthly Admin Trial Balance for Accounts Receivable team and ensure timely submission.

Review the various reports associated with the monthly Trial Balance reporting.

Identify and provide inputs to process improvement initiatives.

Review invoices for IMF Paris rent, and IFC Payroll before sending it to the clients.

Review the various revenue postings and ensure those are as per the contract agreements and established policies and procedures.

Monitor and record the revenue accruals in SAP on a periodical basis.

Review accrual and deferral requests during the year-end and coordinating with WFACR and various units for posting the entries.

Create process documentation and update desktop procedures in Accounts Receivable team.

Respond to tier-2 client inquiries effectively and resolve problems or provide alternative solutions. Collaborate with colleagues, clients, and counterparts to resolve day to day accounting and reporting issues.

Act as a mentor to all accounting assistants and help them to understand the various processes that are performed in PS-SRS and SAP.

Assist in handling special projects as and when required.

Selection Criteria

What you will bring

Education

A master's degree in commerce.

Professional accounting qualification (Ex. CA, CPA, ACCA) not mandatory, but is a plus.

Experience

Minimum of 5 years of work experience in the functional area.

Preferable: Background in financial service industry and familiarity with banking transactions, Multinational organization experience would be advantageous.

Proficiency in SAP and Microsoft Office tools.

Experience in PeopleSoft systems will be an added advantage.