The World Bank Group (World Bank) is one of the world's largest sources of funding and knowledge for developing countries. More than 190 countries participate in at least one of the five World Bank institutions, each of which specialize in different aspects of development: 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 Settlement of Investment Disputes (ICSID).
The Vice President and Treasurer of IBRD/IDA is seeking a dynamic individual who combines technical expertise and excellent people management skills to lead the Treasury Operations Department. The Director will report directly to the TREVP, and will work closely with the directors of the 5 other Treasury departments and the Manager of Treasury’s corporate services unit to provide seamless Treasury services to the Bank Group and its members.
The Treasury Operations Department (TRO) consists of approximately 90 staff members located in the Bank’s Washington, DC headquarters as well as Chennai India. It is organized in four operational units: 1) Banking Operations (TROBP); 2) Capital Markets Operations (TROCM); 3) Fixed Income Asset Management Operations (TROIM); and 4) Multi-Asset Class Services (TROMC).
As the “Bank for the Bank,” TRO conducts all cash operations for the Bank Group (except IFC), which amounts to $25 to $30 billion in cash flows per day. In addition, the department provides a full range of support, enabling and control functions for the financing and investment management (including pensions) activities conducted in Treasury. Treasury Operations also provides accounting, analysis, and financial reporting services for the pension plan and external client assets. The team also collaborates extensively with IBRD members seeking to build capacity in the areas in which it provides services.
Duties and Responsibilities:
• Ensuring timely and efficient processing of all cash flows - payments and receipts - which includes all administrative expenses (including payroll), loan, trust- fund and Treasury transactions within agreed standards;
• Ensuring that confirmation and settlement of financial market transactions), pricing of securities, cash planning, foreign exchange, management of custody relationships and collateral management for Treasury’s extensive activities in the derivatives markets are undertaken in an accurate and timely manner within market standards and deadlines;
• Providing accounting and financial reporting services for the WBG benefit plans in accordance with US Generally Accepted Accounting Principles as well as International Financial Reporting Standards;
• Ensuring robust internal controls and processes are in place to manage operational risks as well as business continuity arrangements considering both internal systems and processes as well as those of service providers. Responding quickly when issues arise;
• Continuously seeking more client oriented and efficient means of conducting business through use of technology and/or service providers;
• Providing leadership, motivation, and inspiration to the department to understand and connect with the WBG and Treasury mission, goals, and objectives;
• Developing the department’s business strategy in collaboration with TRE leadership and Finance Partners; Planning and overseeing the work program;
• Ensuring delivery of high quality outputs in a timely manner with due consideration of Board, senior management, and client needs; Implementing and maintaining quality control processes/inputs to support and expedite the delivery of products and services with a focus on client orientation and solutions;
• Providing direction, coaching, and feedback to continually develop and maintain a high performing and talented team of financial professionals; Foster learning and development strategies to maintain a professional workforce with up-to-date skills, knowledge, and experience;
• Formulating and maintaining strategic staffing needs and annual budget requirements; delivering the agreed upon work program through cost-effective use of resources in consideration of appropriate internal controls and procedures;
• Ensuring that relevant knowledge is captured and disseminated/shared appropriately (internally and externally), including development of good practices; Staying abreast of industry trends and technology, its implications, and providing leadership for adoption when appropriate (e.g. robotics process automation, LEAN and Agile methodologies, and distributed ledger/block chain technology);
• Participating on behalf of TRE in Bank-wide task forces, working groups and committees; Responding to corporate and external demands which are directed to the TREVP.
• Advanced degree in Finance, Accounting, MBA, Economics, or related field with 15 years or more of relevant experience;
• Industry certification and affiliation (e.g. CFA, CPA, FRM) would be a plus;
• Strong familiarity with financial reporting, internal controls frameworks, e.g. COSO, operational risks, and business continuity;
• Seasoned manager with strong managerial experience and proven reputation for intellectual leadership and a demonstrated ability to mentor and motivate staff;
• Strategic vision, strong analytical thinking and creativity; capacity to clearly articulate options and trade-offs;
• Demonstrated abilities to facilitate and manage change and to work across boundaries to build consensus, resolve problems, and foster teamwork;
• Strong written and oral communication skills, ability to convey complex issues in a clear manner to both internal and external audiences.
For detailed Corporate Information about the position and to apply to the position, please visit www.worldbank.org/careers, vacancy number 171334. Deadline is August 9, 2017.
The World Bank Group is committed to achieving diversity in race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply.
The World Bank, a member of the World Bank Group, 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 privat...e sectors.
We are not a bank in the common sense; we are made up of two unique development institutions owned by 188 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).
Together, we provide low-interest loans, interest-free credits and grants to developing countries for a wide array of purposes that include investments in education, health, public administration, infrastructure, financial and private sector development, agriculture and environmental and natural resource management.