Senior Accounting Assistant
World Bank (World Bank)
Close on 30 Sep 2020
Location: Chennai (India)
Grade: GD, Associate
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Added 1 week ago
Job Description

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 and more than 120 offices worldwide, 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’s twin goals of ending extreme poverty and promoting shared prosperity reflect a new global landscape: one in which developing countries have an unprecedented opportunity to end extreme poverty within a generation.

World Bank Group Finance and Accounting (WFA) is led by the Vice President and Controller, who reports to the Chief Financial Officer. WFA in the Bank comprises the following functions: Financial Instruments Accounting and Valuation; Loan and Trust Fund Operations; Accounting Business Services; Financial Reporting; Accounting Policy; Documentation and Communication; Advisory Services; and Risks and Controls. These units collectively include approximately 450 staff, of which 100 are in Washington, D.C. with the remainder in regional offices including the largest in Chennai, India.

WFA Financial Controls (WFAFC) is a business division in WFA and is responsible for the fair recording and reporting of the WBG’s administrative expenses and fixed assets, which have a combined financial statement value of nearly $4.0B. This includes delivering core accounting services, maintaining an effective system of internal controls, and providing strategic leadership on complex business issues pertaining to the following administrative expenses and functions: (i) Travel Accounting, Accounts Payable, Fixed Asset and Lease Accounting, Quality Assurance and Country Office Accounting (together known as WFATA) (ii) Accounts Receivable, Payroll and Tax Allowance Administration and (iii) Helpdesk Operations (WFAAN)

Unit Overview

WFAGP is located at Chennai and responsible for processing vendor payments for all HQ units in Washington DC and around 120+ County offices. WFAGP reports functionally to WFATA. This team complements and works with WFAFC’s other functional teams in Chennai: Payroll, Tax and AR (WFAPA), the Assurance and Client Support team (WFAAC), which deliver core transaction processing services related to Accounts Receivable, Payroll, Tax, provide advisory and support services to country office accountants, travelers and WBG staff in accounting and compliance activities through training, reviews and help desk operations (WFAAN).

WFAGP is looking to recruit suitable candidates for the Senior Accounting Assistant positions in the global payments team.

The Senior Accounting Assistant will be responsible for processing payments to vendors and staff located at HQ or Country offices. The job requires extensive interaction with HQ (or) the country offices accounting staff and vendors.

Duties & Responsibilities

* Process payments to staff and vendors within service standards and contractual terms, which includes invoice review, data entry, and payment proposal preparation, review, and release in accordance with established guidelines.

* Track and clear invoice work items assigned in the SAP inbox; check emails received from clients and take immediate action; resolve cases that require special attention.

* Follow up with TTLs, managers, other staff, and vendors regarding pending workflow items.
* Apply provisions of US GAAP for accrual accounting.

* Adopt best practices to set off vendor receivables.

* Research and initiate action for vendor debit balances; work with vendor on refunds.

* Investigate and resolve cases for failed payment executions, stop payment requests, and stale-dated checks.

* Execute vendor down-payments, as needed for prepaid expenses and advances and ensure these are netted against subsequent invoices; monitor and resolve open down-payments.

* Execute daily Evaluated Receipts Settlement (ERS) process to generate invoice documents in SAP from electronically approved service entry sheets.

* Provide resolution to vendor claims relating to non-payment or incomplete payment or insufficient information to apply payments.

* Respond to queries from vendors, units, relating to invoice payments.

* Analyze / research / act on requests for accounting adjustments relating to accounts payable, engage in discussion as needed to understand and determine action required.

* Submit employee reimbursement request for miscellaneous payments to consultant and non-PO payments to firms.

* Coordinate with the vendor master team to update banking information
Maintain excellent client rapport and demonstrate client service skills in resolving issues.

* Participate in ad-hoc activities such as system testing and other assigned tasks.

Note: The Working Hour will be 8.5 hours between 07.00 AM to 10.30 PM (IST). The candidate should be willing to work in any of the slots as per business requirement.

Selection Criteria

Education and Experience:

• Bachelor's degree in Accounting, Commerce or related field with a minimum of 3 years of relevant experience.

Core Technical Knowledge and Skills:

• Substantial work experience with transaction processing using integrated, automated accounting systems with a comparable level of complexity to the SAP system; a proven track record of problem-solving skills in an automated accounting environment; experience with SAP is desirable, but not required.

• Proficiency in Microsoft Windows applications, such as Excel, Word and PowerPoint. Demonstrated ability to learn new technology quickly and effectively.

• Strong verbal and written communication skills.

• Should be client focused, flexible and work effectively work with other staff in the unit and outside.

• Meet WFA Core Competencies at GD level (given below).

WFA Core Competencies:

• Deliver Results for Clients - Takes full ownership to address client needs. Demonstrates initiative, independence and autonomy in addressing client needs in changing business contexts and environments. Has knowledge of department strategy, vision, and goals and can link them to those of the larger organization. Allocates and prioritizes resources according to areas of most urgent need and greatest impact for the client.

• Collaborate within Teams and Across Boundaries - Contributes to wider collaborative efforts. Adopts a collaborative approach to improve overall effectiveness outside one’s department and displays an open helpful attitude toward others. Approaches conflicts as common problems to be solved. Demonstrates understanding of and acts to incorporate multiple perspectives. Frames thinking/actions with a WBG corporate perspective in mind.

• Lead and Innovate - Initiates changes to work processes to improve efficiency and performance. Applies creativity, flexibility and persistence to develop new, considers own behavior in context of WBG's values and mission and recognizes impact on others. Frames problems and recommends solutions.

• Create, Apply and Share Knowledge - Takes ownership for organization of knowledge-sharing and learning activities. Contributes to the knowledge of the work group and beyond. Uses feedback to develop self and mentor others. Builds personal and professional networks within and beyond the work group.

• Make Smart Decision - Analyzes data to support and enable decision-making Anticipates, researches, reviews, and analyzes available data and relevant empirical evidence, including lessons learned. Understands risk and can provide basic assessment using cost-benefit analysis. Uses critical thinking and good judgment to make decisions. Supports decisions, takes action and ensures appropriate follow-up actions are taken.

• Client Understanding and Advising - Follows through on client inquiries, requests, and addresses problems promptly and non-defensively. Proactively keeps the client up-to-date on the progress of projects. Makes decisions to meet the needs of the situation by considering all available resources and information.

• Broad Business Thinking - Keeps informed on business operations. Inquiries about the relationship of delivered support/services to the business as it pertains to assigned area of responsibility and related projects. Seeks out relevant information related to clients from available sources including supervisors, peers, clients, intranet/Internet, and documentation. Provides a business-based rationale for determining the necessity of incremental improvements and communicates viewpoint using the client’s own terminology with limited jargon.

• Project Management - Demonstrates an understanding of the key principles of project management. Assists in the management of projects where the objectives, milestones and time scales. Shares knowledge regarding project management protocols and duties.

• Analytical Thinking - Gathers and links data. Reviews for non-conformity and gathers further information in response to problems. Collates and reports information. Identifies direct cause-and-effect relationships. Identifies trends and exceptions. Investigates to define problems more accurately. When looking at information, sees patterns, trends, or missing pieces. Recognizes when a current situation is similar to a past situation. Will accept other solutions when conventional methodology does not work. Makes ideas or situations clear, simple, and/or understandable. Assembles ideas, issues, and observations into a clear and useful explanation. Restates and/or interprets existing observations or knowledge in a simpler fashion. Is prepared to look beyond the data for solutions.

• Policies and Procedures - Exhibit working knowledge of policies and procedures applicable to carrying out daily responsibilities. Abide by relevant policies and procedures in completing various tasks. Can exercise independent judgment regarding relevant policies and procedures.

• Risk and Controls - Demonstrate understanding of key risks and internal control procedures in the related processes. Able to identify key risks and mitigating control steps in own functional areas. Perform internal control procedures in compliance with the overall risk and control framework. Ensure compliance with overall risk and internal control procedures.

• Information Technology and Systems - Exhibit working knowledge of key information technology and main systems in own function areas. Effectively utilize such technologies and systems to successfully carry out work programs.

• Communication - Express and exchange information in a clear and concise manner (Writes clearly and concisely simple work related documents). Listen actively and confirm understanding. Recognize own biases and assumptions and make an effort to understand the impact of others' cultural norms on communication styles. Contribute to a transparent and engaging work environment by sharing views and ideas openly and professionally. Uses clear and easily understood writing styles when communicating technical information to non-technical individuals. Understands that different writing styles are required for different documents or audiences.

Poverty has no borders, neither does excellence. We succeed because of our differences and we continuously search for qualified individuals with diverse backgrounds from around the globe.

About World Bank

With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.

World Bank's mission is to end extreme poverty by reducing the share of the global population that lives in extreme poverty to 3 percent by 2030, and to promote shared prosperity by increasing the incomes of the poorest 40 percent of people in every country.