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Organization: The World Bank
Country: Kenya
City: Nairobi
Office: World Bank in Nairobi, Kenya
Closing date: Friday, 19 November 2021
Finance Analyst
Job #: req13630
Organization: World Bank
Sector: Finance & Accounting
Grade: GE
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
Location: Nairobi,Kenya
Required Language(s): English
Preferred Language(s): French
Closing Date: 11/19/2021 (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 in more than 120 offices worldwide and with over 16,000 staff globally, 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 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 several financial operation activities, notably financial services, compliance, disbursements, accounting, and analytics for IBRD/IDA loans and Trust Funds.
WFA Client Services (WFACS) is a Unit within WFATL that is devoted to providing “frontend” 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 two proactive and highly-motivated Finance Analysts (FNs) to be integral and active members of its client service team to be based in Nairobi, Kenya.
Duties and Accountabilities The Finance Analyst’s (FN’s) primary responsibilities will include, but are not limited to the following activities:
- A) Supporting the preparation of new projects: 1. Collaborate with Finance Officers (FOs) on fiduciary review of loan preparation documents. 2. Manage project preparation from concept note to effectiveness, as assigned by the FOs and Team Leads (TLs) for low-risk projects.
- B) Loan portfolio management: 1. Prepare level two (level one at FO direction) loan restructuring packages and clear in the Operations (Ops) portal. 2. Provide input to FOs on Withdrawal Application Quality Risk (WAQR). 3. Provide advice during project implementation to address fiduciary and fund-flow related issues based on risk assurance framework 4. Provide loan information and analyses to assist in decision-making. 5. Provide monthly inputs on the status of disbursements and the performance of the portfolio to each Country Management Units (CMUs). 6. Monitor inactive Project Designated Accounts (DAs) and liaise with clients to ensure that DA balances are promptly documented or refunded. 7. Implement actions to ensure that loans are closed promptly on the due dates. 8. Process the logging and resolution of ineligible expenditures in the system, including following up with clients to ensure ineligible expenditures are duly refunded. 9. Manage e-disbursement account setup and the related queries from clients. 10.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.
- C) Transaction Processing: 1. 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. 2. Perform the Release function for withdrawal applications, as applicable. 3. 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).
- D) Client Capacity Building: 1. 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. 2. 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. 3. 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. 4. Engage and advise external clients on the processes and procedures required in order to efficiently utilize the Client Connection platform.
- E) Client Relationship Management: 1. Act as the country focal point for assigned countries in collaboration with the country Finance Officer (FO). 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. Serve as a solution provider for advice to internal clients (task teams, financial management specialists and procurement specialists, legal) on preparation and implementation issues in the assigned countries. 4. Appropriately utilize the Askloans Helpdesk (Client Relationship Management tool) to engage with clients and provide analytical and performance data on that client engagement.
- F) Other Tasks: 1. Appropriately handle other tasks that may be assigned by the TL.
Selection Criteria
The candidate should meet the following criteria:
Minimum Education: 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.
Work Experience: At least 2 years of relevant experience.
Language Skills: (i) For one of the Finance Analyst positions, the ability to communicate effectively, in writing and orally, in both English and French is required and essential. (ii) For the second Finance Analyst position, only English is required and essential.
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 is an advantage.
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 is an advantage.
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. cxVawOq CWdGWx
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:
Willingness to work in different time zones – Given that the division is co-located in multiple cities in different time zones, candidates must be willing to work in different time zones especially the US EST time zone on an ‘as-needed’ basis.
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.
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.
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