Financial Operations Assistant

Job Description

BASICS Job #: 082458 Title: Financial Operations Assistant Job Stream: Administration Location: Washington, DC Close Date: 19-Dec-2008 BACKGROUND The mission of the International Finance Corporation (IFC), the private sector arm of the World Bank Group, is to promote sustainable private sector investment in developing countries, helping to reduce poverty and to improve people s lives. The Loan & Equity Support Group of the Financial Operations Department provides customer services to Investment Departments as well as borrowers and participation banks through processing and settlement of loan and equity transactions. It also provides operational support in the development of new business initiatives and products. It consists of three teams, each covering an assigned portfolio of Investment Departments and their clients. It is each team s primary responsibility that all issues arising from their responsible Investment Departments and/or clients are resolved with minimal engagement of the Unit management. This position is part of a team responsible for all projects of the assigned portfolio. It is primarily responsible for analysis and first level validation and processing of requests for loan disbursement, billing/payment confirmation, and other processing and administrative actions. The team member is to work under direct supervision of the team leader, i.e. Financial Operations Officer. This is typically an entry level position in the Group where new trainees or team members are provided 12 to 24 months of on-the-job training in order to be ready to take on the same level of responsibility as the Financial Operations Analyst. The team member is also required to transfer across teams in the Group or Unit and to become a fully functional member within a short timeframe. DUTIES & ACCOUNTABILITIES • Execute end-to-end disbursement process, ensuring effective communication and coordination with all related parties. • Ensure accurate and timely entries, to the ICAS systems, of commitments, disbursement and payment status, account updates, and receipt of equity share certificate, etc. • Review and dispatch borrowers account & billing statements • Process and monitor loan & equity service payments and jeopardy payments. • Monitor daily interest rate reset, run rollover program to advise borrowers, participants, and B Loan Management Unit. • Review and analyze monthly Arrears & Non-Accrual Reports for review by the Financial Operations Officer and relevant Investment Officers. • Handle inquiries from Investment Departments, participation banks, and clients regarding transaction processes and procedures. • Prepare audit confirmation for clients and participants. • Handle team administrative responsibilities as needed. • Back up absence or high volumes in own team or other teams of Loan & Equity Support Group. SELECTION CRITERIA • A bachelor s degree with a major in business administration, accounting, finance, computer technology and systems design with some experience in related fields, e.g. commercial loan processing/administration in a highly automated environment ; or equivalent combination of education and experience • Knowledge of IFC/IBRD systems, procedures, and documents a strong plus. • Ability to work in a team environment with good interpersonal and communication skills. • Ability to handle independent work and produce reliable results with limited supervision • Knowledge of the latest information and office technology and relevant business tools. • Fluency in written and spoken English. Knowledge of another major language preferred. NOTE: Only short-listed candidates will be contacted. Only applications submitted online will be accepted (i.e., no applications through email). Do not call/email to check status, since this can be done online. APPLICATIONS For information on how to apply, click . To apply for this job online, click .