Experience: 0 – 2 Years
Location: Chennai
Education: UG – B.Com – Commerce PG – CA
Industry Type: Accounting/Finance
Role: Chartered Accountant
Functional Area: Accounts / Finance
Location: Chennai
Education: UG – B.Com – Commerce PG – CA
Industry Type: Accounting/Finance
Role: Chartered Accountant
Functional Area: Accounts / Finance
Job Description
Background / General Description
The Controller’s Vice Presidency 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) and the extensive Trust Fund/Partnership portfolio of these two entities.
Background / General Description
The Controller’s Vice Presidency 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) and the extensive Trust Fund/Partnership portfolio of these two entities.
The Controller’s Vice Presidency (CTR) is also responsible for expressing Finance’s viewpoint on controls over bank operations, particularly those which validate the appropriateness of loan disbursements.
Organizationally, CTR is comprised of the (1) Financial Instruments, Accounting, and Valuation; (2) Loans; and (3) Client Services Departments, as well as the Financial Reporting and Analysis, Accounting Policy, Knowledge Dissemination, and Operational Risks and Controls units. These teams collectively include approximately 400 staff, of which 150 are located at headquarters with the remaining 250 located in regional offices the largest being in Chennai, India.
The Fiduciary and Controls Division (CRTFC), under the Loans Department, is creating a Trust Fund Clearance Team in Chennai, India. The new centralized trust fund unit would initially take on the trust fund programs currently being handled by the special trust fund team in DC (LOA-TF Unit). The core activities of the centralized TF Unit will include but is not limited to the following tasks: 1) new TF clearances, 2) TF grant amendments, 3) TF disbursement letter amendments, and 4) TF queries.
The Fiduciary and Controls Division is tasked with ensuring disbursement arrangements in TF agreements are appropriate to support the development objectives of the projects/operations (including trust funds) and providing reasonable assurance that funds are used for the intended purposes. CTRFC is responsible for reviewing and clearing disbursement-related issues in all Recipient-Executed Trust Funds (RETF) grant agreements and preparation of disbursement letters. CTRFC are involved in the clearance of approximately 500 to 600 new TF grant agreements per year, excluding amendments to grant agreements and revised disbursement letters.
Job Purpose
The Trust Fund Finance Assistant (FA), as a member of the Loans Fiduciary & Controls Division, works under the on-site supervision of the Trust Fund Finance Officer (FO) in Chennai to promote (a) effective disbursement arrangements which support development objectives of the trust fund projects and (b) provide reasonable assurance that funds are used for intended purposes. To this end, the Finance Assistant will (a) be primarily responsible for monitoring the Case Management Tool (CTRFC’s tracking system) for all trust fund clearances, grant amendments, disbursement letter amendments and trust fund inquiries; (b) assist in reviewing trust fund packages (i.e. draft disbursement letters, etc…); and (c) support the unit on administrative matters.
The Trust Fund Finance Assistant (FA), as a member of the Loans Fiduciary & Controls Division, works under the on-site supervision of the Trust Fund Finance Officer (FO) in Chennai to promote (a) effective disbursement arrangements which support development objectives of the trust fund projects and (b) provide reasonable assurance that funds are used for intended purposes. To this end, the Finance Assistant will (a) be primarily responsible for monitoring the Case Management Tool (CTRFC’s tracking system) for all trust fund clearances, grant amendments, disbursement letter amendments and trust fund inquiries; (b) assist in reviewing trust fund packages (i.e. draft disbursement letters, etc…); and (c) support the unit on administrative matters.
In fulfilling this role, the Trust Fund Finance Assistant works closely with the Trust Fund Finance Analyst, Trust Fund Finance Officer, and the HQ Trust Fund Coordinator to ensure that the work is carried out in compliance with Loan Department’s policies and procedures. The Trust Fund Finance Assistant works under the administrative supervision of the Chennai Team Lead and reports to the HQ Trust Fund Coordinator.
The Trust Fund Finance Assistant’s work encompasses all trust fund portfolio administration tasks to support project preparation and implementation – for example, reviewing and clearing trust fund agreements, amendments, complex category reallocations and designated account ceilings.
The Finance Assistant might be requested to contribute to Departmental initiatives, or to participate in FM network activities and contribute to corporate initiatives.
Duties and Accountabilities:
• Monitor the Case Management Tool (CMT) and follow-up on LOA-TF’s / FYI Inboxes in order to assign service request numbers for clearance requests, requests for amendments, inquiries, etc…
• Monitor the CMT to ensure that established guidelines and procedures are followed.
• Assist in the review of trust fund packages (e.g. draft disbursement letters, research ).
• Respond to inquiries (received through email, voicemail, letter, etc…) from internal or external clients about trust fund queries.
• Draft correspondence to internal and external clients.
• Support to the Division administration.
• Participate in departmental/divisional task forces.
• Participate in the development, evaluation, and system testing activities and assist in documentation of new processes.
• Undertake ad-hoc assignments at the discretion of the Chennai Team Lead or Division Manager
• Monitor the Case Management Tool (CMT) and follow-up on LOA-TF’s / FYI Inboxes in order to assign service request numbers for clearance requests, requests for amendments, inquiries, etc…
• Monitor the CMT to ensure that established guidelines and procedures are followed.
• Assist in the review of trust fund packages (e.g. draft disbursement letters, research ).
• Respond to inquiries (received through email, voicemail, letter, etc…) from internal or external clients about trust fund queries.
• Draft correspondence to internal and external clients.
• Support to the Division administration.
• Participate in departmental/divisional task forces.
• Participate in the development, evaluation, and system testing activities and assist in documentation of new processes.
• Undertake ad-hoc assignments at the discretion of the Chennai Team Lead or Division Manager
Company Profile
The World Bank is a vital source of financial and technical assistance to developing countries around the world. Our mission is to fight poverty with passion and professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors.
The World Bank is a vital source of financial and technical assistance to developing countries around the world. Our mission is to fight poverty with passion and professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors.
We are made up of two unique development institutions owned by 186 member countries: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Each institution plays a different but collaborative role in advancing the vision of inclusive and sustainable globalization. The IBRD aims to reduce poverty in middle-income and creditworthy poorer countries, while IDA focuses on the world’s poorest countries.
Their work is complemented by that of the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and the International Centre for the Settlement of Investment Disputes (ICSID).
Company Name: World Bank
Email Address: chennaijobs@worldbank.org
Email Address: chennaijobs@worldbank.org
Find more details on CA Freshers World Bank Chennai and apply online.
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