Senior Financial Officer
IFC - Washington, DC

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The World Bank Group’s Investment Climate Department (CIC) assists governments of developing countries and transition economies in reforming their business environments, with support focused on reforms that strengthen business environments and the investment climate (IC) at economy-wide as well as industry/sector level. The department collaborates extensively with other teams across the World Bank Group in the design and delivery of advisory services and other operational work related to investment climate reform, and develops IC knowledge products for staff and clients.

Serving as the global backbone of the Bank Group’s IC activities; CIC: (i) anchors the Investment Climate Business Line (one of IFC's four Advisory Services Business Lines), and handles the global dimension of its work; (ii) anchors the Investment Climate Global Practice of the Bank's Financial and Private Sector Development Network (which covers six Practices); (iii) implements MIGA’s technical assistance mandate, and (iv) manages the multi-donor Facility for Investment Climate Advisory Services (FIAS), a global funding and partnership platform for IC reform. In addition, CIC also manages the following programs for IFC: (v) the Health in Africa (HiA) initiative (in collaboration with AFTHD), (vi) the Water Resources Group (WRG) (in collaboration with CNGWA and other WBG units), (vii) a new program on private participation in infrastructure (in collaboration with C3P and other WBG units), (viii) and the coordination function for IFC’s work on fragile and conflict-affected countries (jointly with CTGDR).

CIC is organized into four main units, reflecting four global service or product lines: Business Regulation, International Trade and Investment, Investment Climate for Industry, and Private Participation in Infrastructure and Social Sectors, as well as a unit dedicated to Africa (CIC is co-managing IFC’s IC work program in Sub-Saharan Africa), an Operational Support unit, and a unit supporting FPD’s Global IC Practice.

About the Position
• As a joint WBG department with multiple trust-funded programs, CIC maintains a complex accounting/financial organizational structure to ensure its fiduciary responsibility with respect to the various sources of funds it manages. The CIC Resource Management (RM) Team is responsible for the overall management of CIC’s financial resources and the delivery of efficient and effective back office services including trust fund administration, budget formulation and allocation, financial management and control, responsible cash management and timely/accurate financial reporting.
• As head of the CIC Resource Management (RM) Team, the Senior Finance Officer provides for the overall leadership of CIC RM Team to ensure the effective administration and management of CIC’s financial resources; the delivery of efficient back office services and the successful implementation of CIC strategy.
Duties and Accountabilities:

The primary responsibility of the Senior Finance Officer is to provide for the overall management / control of CIC financial resources (CIC’s multiple trust-funded programs) by maintaining a high level of financial control, strategic / responsible funds management, effective budgeting and timely and accurate financial reporting. Specifically, the Senior Finance Officer will:
• Contribute to the development and delivery of CIC department / program strategies in relation to resource planning and business indicators / targets.
• Provide for the overall leadership of the department’s “back office” function to ensure effective financial management of CIC financial resources.
• Ensure sound internal financial controls over CIC financial transactions and business operations to mitigate strategic, financial, operational and reputational risks.
• Ensure compliance with WB/IFC policies, procedures and practices and Donor requirements.
• Provide expert financial advice in negotiating / drafting of Donor agreements/amendments to include advice on the appropriate trust fund structure for funds management / reporting.
• Ensure implementation / administration of IFC/AS policies and procedures for recording and reporting Advisory Services (AS) client (cash) contributions and adherence to IFC Advisory Services (AS) cost recovery policy / procedures / practices and pricing guidelines.
• Develop (in coordination with CIC Management) CIC fiscal year department / program budgets in accordance with corporate / Advisory Services guidelines.
• Monitor donor commitments and develop strategic funding plan to ensure financial viability / adequate funding for implementation of CIC fiscal year work plan /strategy.
• Develop / implement budget process / guidelines to facilitate project-level budgeting and monitoring by CIC operational staff.
• Monitor CIC financial / budget performance and recommend / oversee implementation of required corrective actions.
• Ensure effective systems / tools to facilitate CIC financial / budget reporting to include any financial management systems / tools developed for IFC / Advisory Services.
• Ensure quality of CIC financial reporting and compliance with corporate standards and Donor requirements.
• Report / present CIC financial / budget performance; highlight variances and areas of concern to CIC Management.
• Ensure adherence to WBG procurement policies / procedures / practices for the selection and use of consultants.
• Provide general oversight / control of CIC procurement practices and ensure quality assurance of CIC consultant contract transactions.
• Provide expert advice /guidance on accounting and financial principles / practices and recommend solutions to complex issues.
• Keep abreast of new WBG policies/ procedures / practices and ensure these are communicated and implemented throughout CIC.
• Take initiative to improve processes, practices and approaches within the SAP and Advisory Services operational framework.
• Provide for the overall management of the CIC Resource Management (RM) Team i.e. define clear roles/responsibilities; set annual work program / priorities; establish clear objectives and evaluate performance.
• Mentor and provide guidance / opportunity for CIC Resource Management (RM) Team staff professional growth.
The Senior Finance Officer reports directly to the CIC Lead Operations Officer with a dual reporting line to Assistant Director, CFA / AS Controller, CPA.
Selection Criteria:
Sound knowledge and understanding of accounting theory, concepts and principles, combined with proven practical skills in financial accounting, reporting, business planning, budgeting, financial management, and audit.
• In-depth knowledge and understanding of business planning, work programming and budgeting and financial and administrative management.
• Ability to conduct independent research and analysis, identify issues, formulate options, reach conclusions, submit recommendations and influence superiors and colleagues on course of action.
• Good understanding of generally accepted accounting principles and proper accounting controls over accounting processes and financial reporting.
• Knowledge of WBG accounting/project management systems including SAP, ASOP/IBIS, IFC TRS (Time Recording).
• Knowledge of IFC operating, fiduciary and administrative processes for resource management including those processes / procedures related to IFC Advisory Services and management of trust fund resources.
• Excellent professional judgment.
• Strong conceptual, analytical, problem solving and evaluation skills.
• Strong communication skills with ability to prepare, present, and discuss findings in written and oral form.
• Advanced skills in Excel; working knowledge of Microsoft office, namely Word and Power Point; MS Access an added advantage.
• Strong interpersonal skills.
• Proven people management skills with the ability to lead, coach, mentor and develop subordinate staff.
• Strong team building skills including proven track record of building and managing teams and creating an enabling work environment.
• Ability to function effectively in a matrix management environment, both as a team leader/supervisor and team member.
• Ability to deal sensitively in multi-cultural environments and build effective / productive working relationships with clients and colleagues.
• Master's degree and a minimum of 8 years' relevant experience or equivalent combination of years and experience.
• Substantial and diverse experience in all facets of the job.
• Proven ability to conceptualize, design and implement major projects and to produce major/complex reports or studies.
• Demonstrated professional leadership and ability to lead a team of professionals in the execution of major projects.
• Ability to coach/mentor more junior staff.
Only on-line applications through will be accepted. Only Short listed candidates will be contacted

About this company
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help...