E T Consultant
Washington D.C.
- Organization: World Bank Group
- Location: Washington D.C.
- Grade:
-
Occupational Groups:
- Closing Date:
Do you want to build a career that is truly worthwhile? 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 and promoting shared prosperity. 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 World Bank Treasury is one of the few places where you can be on the leading edge of finance as it sits at the only nexus of finance, innovation, and international development. We manage the institution's finances to enable all World Bank operations and lending. Each year, we issue over $50 billion in bonds, prudently manage over $180 billion in assets, and process over $7 trillion in transactions. Treasury has three departments and a compliance and controls team. Learn more about our organization: https://treasury.worldbank.org/en/about/unit/treasury/about/what-we-do.
With us, you won't just work in financial markets: you'll help create new ones.
The World Bank Treasury launched a global recruitment campaign to attract the best and brightest talent in the world. We encourage you to learn more about Treasury, its organization, people, and careers at treasury.worldbank.org/careers.
With employees based in Washington, Chennai, Paris, Tokyo, Singapore, and Sofia, the World Bank Treasury represents over 50 nationalities, and our leadership team hails from all regions of the world. We are proud to be an equal opportunity and inclusive employer. We have a dedicated and committed workforce and do not discriminate based on gender, race, ethnicity, religion, disability, sexual orientation, or gender identity. Learn more about Treasury's greatest strength: its diverse and dedicated staff.
Background and general description:
Treasury Banking Operations
Treasury (TRE) has been a large and significant player in the international financial markets for over seventy years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager. Treasury is responsible for: (i) managing approximately $195 billion in assets for the World Bank and other official sector investors; (ii) leading IBRD’s and IDA’s triple-A rated financing programs in international and domestic bond and derivative markets; (iii) conducting asset and liability management for IBRD’s and IDA’s balance sheets; (iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and (v) collaborating with the World Bank member countries to help build their capacity. Staff in Treasury regularly interact and collaborate with other Departments across the Bank and Finance Partners’ teams.
The Treasury Operations Department (TREOP) provides a full range of operational support for the Treasury’s asset management, capital markets and banking businesses. The Department is presently organized into three operational units: Asset and Liability Operations (TREAL), Cash and Banking Operations (TREBK)and Quantitative Solutions and Analytics (TREQA), and a Financial Technology coordination unit (TREFT).
The Treasury Banking Operations (TREBK) team Treasury Banking Operations (TREBK) is the unit providing banking and payments services for World Bank Group (WBG) entities, as well as IBRD-Trust Funds. It ensures all World Bank payments, receipts, and FX related to corporate cash activity are processed and performs key reconciliation controls and reporting over cash transactions and investment portfolios. The unit consists of four teams responsible for coordinating to execute the work program: (1) cash planning and ensuring all FX conversions are executed to meet the Bank’s liquidity needs and processing payments and receipts for proper accounting; (2) managing bank accounts and relationships with all corporate banking counterparts: (3) performing controls to ensure the completeness, accuracy and validity of all cash and security positions, investigating and resolving differences with external records, and financial reporting of cash balances and external client reporting of investment holdings; and (4) managing the WBG’s SWIFT infrastructure and maintaining SSIs and key static data related to payment and receipt processing.
Roles and Responsibilities:
Under the guidance and supervision of a Team Lead, the selected candidate will have responsibilities for specific individual tasks/projects within TREBK’s Investigation, Reconciliation and Accounting (IRA) team in executing TREBK’s work program across more than 1,000 cash and custody accounts, while maintaining close relationships with the other Treasury departments. The selected candidate will work across all areas of the World Bank as the transactions that flow through these accounts include not only those driven by Treasury’s funding and investment activities, but also every cash transaction affecting World Bank Group activities. For example, this includes: loan disbursements and repayments to our client countries; IBRD and IDA capital contributions from our member countries and trust fund donors; and administrative, payroll and pension payments. The IRA team supports the replenishment of country office accounts around the world, MIGA premium payments and reimbursements, and ICSID arbitration deposits and refunds. The team also plays a critical role in IT transformation projects across Treasury given its central role in the banking operations function.
Within the IRA team, the selected candidate’s primary responsibilities will include, but are not limited to, some combination of the following activities:
Projects, Systems and Process Improvements:
• Lead and support the IRA team’s efforts in implementing an API-based payments platform that will serve as an alternative payment rail to the WB’s top correspondent banks in the event of a Swift outage.
• Assist in driving and implementing process improvements initiatives for the IRA team’s functions and processes, including the implementation of Swift gpi and Case Manager services, enhancing the team’s daily and monthly balances and reconciliation reports, migrating the team’s various Crystal Reports to new formats and platforms, and the rollout of TREBK’s datalake and data analytics dashboard.
• Play an integral role in the design and implementation of new Treasury initiatives or changes to existing World Bank systems that impact IRA, including reviewing Business Requirements Documents (BRD), Scoping documents and performing testing (User Acceptance Testing (UAT) and post-implementation testing.
Cash Investigations:
• Timely and efficient processing and resolution of cash investigations cases that arise out of reconciliation breaks, or emails and SWIFT messages from clients, counterparties, business units, and correspondent banks.
• Liaise with various teams across the Bank and with external banking partners to address issues, effect action and resolve cases.
• Review and analyze cash investigations cases to identify trends, escalate issues, and develop strategies and process changes that would minimize the recurrence of cases. Work with various teams and stakeholders in implementing these changes.
• Investigate and report daily cash overdrafts and long balances in relation to external cash balances.
Client Reporting:
• Provide expertise in supporting the TREBK team’s client reporting function for the World Bank Treasury investment and external asset management business. Work with external clients and their custodians, as well as colleagues within the Treasury department in ensuring all reporting deliverables are met, related queries and issues related are addressed, and system and business changes affecting the client reporting function are proactively managed.
• Ensure the timely and accurate submission of monthly reconciliation reports comparing the World Bank’s Investments and Net Asset Value data against corresponding custodian records.
• Effectively support the daily and monthly reconciliations process of World Bank’s Investment Asset positions against corresponding custodian records.
• Support and maintain the static data and reporting templates in the World Bank’s securities reconciliation and client reporting system. Work with colleagues in the team, IT and the external vendor to escalate and help resolve systems issues.
• Ensure that the daily, monthly, quarterly and year-end deliverables and other ad-hoc reporting requirements for Treasury's worldwide clients are properly and promptly met.
Cash Accounting:
• Perform month-end close process for cash including preparation of reports and necessary adjustments needed to ensure accuracy of data and balances that are sent to general ledger system (SAP).
• Ensure the accuracy and appropriateness of accounting data, systems, and reporting deliverables.
• Ensure that the daily, monthly, quarterly, and year-end deliverables and other ad-hoc requirements are properly and promptly met.
The World Bank Treasury is one of the few places where you can be on the leading edge of finance as it sits at the only nexus of finance, innovation, and international development. We manage the institution's finances to enable all World Bank operations and lending. Each year, we issue over $50 billion in bonds, prudently manage over $180 billion in assets, and process over $7 trillion in transactions. Treasury has three departments and a compliance and controls team. Learn more about our organization: https://treasury.worldbank.org/en/about/unit/treasury/about/what-we-do.
With us, you won't just work in financial markets: you'll help create new ones.
The World Bank Treasury launched a global recruitment campaign to attract the best and brightest talent in the world. We encourage you to learn more about Treasury, its organization, people, and careers at treasury.worldbank.org/careers.
With employees based in Washington, Chennai, Paris, Tokyo, Singapore, and Sofia, the World Bank Treasury represents over 50 nationalities, and our leadership team hails from all regions of the world. We are proud to be an equal opportunity and inclusive employer. We have a dedicated and committed workforce and do not discriminate based on gender, race, ethnicity, religion, disability, sexual orientation, or gender identity. Learn more about Treasury's greatest strength: its diverse and dedicated staff.
Background and general description:
Treasury Banking Operations
Treasury (TRE) has been a large and significant player in the international financial markets for over seventy years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager. Treasury is responsible for: (i) managing approximately $195 billion in assets for the World Bank and other official sector investors; (ii) leading IBRD’s and IDA’s triple-A rated financing programs in international and domestic bond and derivative markets; (iii) conducting asset and liability management for IBRD’s and IDA’s balance sheets; (iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and (v) collaborating with the World Bank member countries to help build their capacity. Staff in Treasury regularly interact and collaborate with other Departments across the Bank and Finance Partners’ teams.
The Treasury Operations Department (TREOP) provides a full range of operational support for the Treasury’s asset management, capital markets and banking businesses. The Department is presently organized into three operational units: Asset and Liability Operations (TREAL), Cash and Banking Operations (TREBK)and Quantitative Solutions and Analytics (TREQA), and a Financial Technology coordination unit (TREFT).
The Treasury Banking Operations (TREBK) team Treasury Banking Operations (TREBK) is the unit providing banking and payments services for World Bank Group (WBG) entities, as well as IBRD-Trust Funds. It ensures all World Bank payments, receipts, and FX related to corporate cash activity are processed and performs key reconciliation controls and reporting over cash transactions and investment portfolios. The unit consists of four teams responsible for coordinating to execute the work program: (1) cash planning and ensuring all FX conversions are executed to meet the Bank’s liquidity needs and processing payments and receipts for proper accounting; (2) managing bank accounts and relationships with all corporate banking counterparts: (3) performing controls to ensure the completeness, accuracy and validity of all cash and security positions, investigating and resolving differences with external records, and financial reporting of cash balances and external client reporting of investment holdings; and (4) managing the WBG’s SWIFT infrastructure and maintaining SSIs and key static data related to payment and receipt processing.
Roles and Responsibilities:
Under the guidance and supervision of a Team Lead, the selected candidate will have responsibilities for specific individual tasks/projects within TREBK’s Investigation, Reconciliation and Accounting (IRA) team in executing TREBK’s work program across more than 1,000 cash and custody accounts, while maintaining close relationships with the other Treasury departments. The selected candidate will work across all areas of the World Bank as the transactions that flow through these accounts include not only those driven by Treasury’s funding and investment activities, but also every cash transaction affecting World Bank Group activities. For example, this includes: loan disbursements and repayments to our client countries; IBRD and IDA capital contributions from our member countries and trust fund donors; and administrative, payroll and pension payments. The IRA team supports the replenishment of country office accounts around the world, MIGA premium payments and reimbursements, and ICSID arbitration deposits and refunds. The team also plays a critical role in IT transformation projects across Treasury given its central role in the banking operations function.
Within the IRA team, the selected candidate’s primary responsibilities will include, but are not limited to, some combination of the following activities:
Projects, Systems and Process Improvements:
• Lead and support the IRA team’s efforts in implementing an API-based payments platform that will serve as an alternative payment rail to the WB’s top correspondent banks in the event of a Swift outage.
• Assist in driving and implementing process improvements initiatives for the IRA team’s functions and processes, including the implementation of Swift gpi and Case Manager services, enhancing the team’s daily and monthly balances and reconciliation reports, migrating the team’s various Crystal Reports to new formats and platforms, and the rollout of TREBK’s datalake and data analytics dashboard.
• Play an integral role in the design and implementation of new Treasury initiatives or changes to existing World Bank systems that impact IRA, including reviewing Business Requirements Documents (BRD), Scoping documents and performing testing (User Acceptance Testing (UAT) and post-implementation testing.
Cash Investigations:
• Timely and efficient processing and resolution of cash investigations cases that arise out of reconciliation breaks, or emails and SWIFT messages from clients, counterparties, business units, and correspondent banks.
• Liaise with various teams across the Bank and with external banking partners to address issues, effect action and resolve cases.
• Review and analyze cash investigations cases to identify trends, escalate issues, and develop strategies and process changes that would minimize the recurrence of cases. Work with various teams and stakeholders in implementing these changes.
• Investigate and report daily cash overdrafts and long balances in relation to external cash balances.
Client Reporting:
• Provide expertise in supporting the TREBK team’s client reporting function for the World Bank Treasury investment and external asset management business. Work with external clients and their custodians, as well as colleagues within the Treasury department in ensuring all reporting deliverables are met, related queries and issues related are addressed, and system and business changes affecting the client reporting function are proactively managed.
• Ensure the timely and accurate submission of monthly reconciliation reports comparing the World Bank’s Investments and Net Asset Value data against corresponding custodian records.
• Effectively support the daily and monthly reconciliations process of World Bank’s Investment Asset positions against corresponding custodian records.
• Support and maintain the static data and reporting templates in the World Bank’s securities reconciliation and client reporting system. Work with colleagues in the team, IT and the external vendor to escalate and help resolve systems issues.
• Ensure that the daily, monthly, quarterly and year-end deliverables and other ad-hoc reporting requirements for Treasury's worldwide clients are properly and promptly met.
Cash Accounting:
• Perform month-end close process for cash including preparation of reports and necessary adjustments needed to ensure accuracy of data and balances that are sent to general ledger system (SAP).
• Ensure the accuracy and appropriateness of accounting data, systems, and reporting deliverables.
• Ensure that the daily, monthly, quarterly, and year-end deliverables and other ad-hoc requirements are properly and promptly met.
We do our best to provide you the most accurate info, but closing dates may be wrong on our site. Please check on the recruiting organization's page for the exact info. Candidates are responsible for complying with deadlines and are encouraged to submit applications well ahead.
Before applying, please make sure that you have read the requirements for the position and that you qualify.
Applications from non-qualifying applicants will most likely be discarded by the recruiting manager.
Applications from non-qualifying applicants will most likely be discarded by the recruiting manager.