International Finance Corporation (IFC) a sister organization of the World Bank and member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. The Bank Group has set two goals for the world to achieve by 2030: end extreme poverty and promote shared prosperity in every country.
We are recruiting to fill the position below:
Job Title: Finance Analyst
Job No: req14768
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
- IFC – a member of the World Bank Group – is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
- The Budget and Business Administration Department (CBA) integrates financial sustainability and resource and administration functions under one umbrella to enable execution of management and operational needs in the best way. Aligning IFC’s strategy and resource management capabilities and deliverables while supporting IFC’s financial sustainability mandate is imperative for our strategic engagements and client delivery.
- The Finance Unit (CBAAF) for the Sub-Saharan Africa Region (CAF) is responsible for work program planning, budgeting, budget & financial reporting and resource management for all the offices in the CAF Region. Overall, CBAAF maintains cost efficiency and effective controls over all financial transactions and provides support for effective management of resources
- Within the CBAAF unit, CBA is seeking a Finance Analyst for the Sub-Saharan Africa (CAF) region. The role provides analytical support to CAF’s Financial Institutions Group (FIG) Department and reports to CAF Finance Officer in charge of Resource Management.
- The location and recruitment type of this position will be in the CAF country office in Lagos, Nigeria. Some travel within the region may be required.
Role & Responsibilities
CAF Regional Industry Financial Planning and Budgeting:
- Work closely with the regional management team to understand the regional/industry strategies and implications for resource allocations.
- Coordinate the regional industry budget formulation for total resources needed to support regional industry activities according to work program requirements for the region and Directors’ outlook.
- In partnership with HR, prepare staffing needs projections and respective budget requirements for the regional industry, in liaison with the budget network.
- Liaise on regional budget allocations with the Director, advising on fungibility of the various funding sources.
Resource Management (including staffing, DA and mobility benefits):
- Act as Regional Industry focal point for IFC systems involved in staffing planning or staff movements process (PeopleSoft, BPC).
- Ensure actual staff records and planned positions in PeopleSoft have correct and updated budget information including funding sources and follow governance from the CEO office/HR on staff recruitment / movement process.
- Ensure accurate information is reflected for unit staffing and budget forecast in BPC system.
- Serve as central point for mobility benefits budgeting and execution of ceilings in the Region.
- Prepare financial planning form for staff on Developmental Assignment (DA)/Short Term Assignment (STA) and guide staff on payment/ reimbursement requests for DA and STA allowances & check that payment requests are in accordance with policy.
- Oversee WBG travel policy compliance, lead on expenditure review actions and follow-up.
- Review expenses periodically and determine non-eligible expenses for reposting to appropriate sources of funds
SAP Management, Time Recording System (TRS) and Cost Allocations:
- Advise on and set up financial structures (cost centers, WBS elements, workflow) in IFC SAP systems to ensure consistent treatment of regional industry expenses by funds source.
- Maintain charge code list for department and provide updates for staff with guidance on correct use of codes
- Liaise with VPU Coordinator on SAP approver profiles for departmental cost centers
- Oversee accurate TRS charge codes for region staff based for correct staff time accounting.
- Serve as overall Regional TRS coordinator for BB-funded charge codes.
Billing Monitoring (Reimbursables and AMC):
- Coordinate with central budgeting team for the billing of reimbursable mandate fees (legal fees, consultant expenses, out-of-pocket and directorship fees and expenses).
- Ensure regular reposting of non-eligible reimbursable expenses to admin budget.
- Report the regional industry reimbursable status in monthly budget report to the Director.
- Quarterly follow up with Managers and Investment Officers on outstanding invoices pending billings and collections for follow up with their clients to ensure exposure and potential write-offs are kept at a minimum balance.
- Quarterly liaison with relevant Investment Officers for completeness and accuracy of billing template, ensuring that all costs are billable to AMC per guidelines.
- End of year write-off and move to income process; review balances with Managers and RID for relevant exceptions.
Financial Reports, Analytics and Business Intelligence:
- Collaborate with CBA and CAFVP Resource Management Teams to share corporate level best practices and guidelines in reporting analytics, forecasting and business intelligence.
- Monitor expense versus budget position on all funds sources and prepare monthly Total Resources/ budget/ RM reports for the Regional Industry Director.
- Prepare quarterly forecast or as needed, integrating all source of funds, and update BPC.
- Prepare ad-hoc analysis as requested or proactively as may deem useful to clients.
- Liaise with the regional industry director on the actual vs budget position and suggest actions.
- Conduct periodic or adhoc meetings with regional managers to discuss budget performance.
- Provide expert advice and guidance on procedures, ensuring compliance with WBG resource management and administrative policies, but also providing solutions.
- Degree in Accounting, Finance, Business or Economics with at least 5 years of working experience.
- Recognized professional accreditation (CPA, CMA, CIMA, ACCA, etc.) OR Masters degree is a plus.
- Sound knowledge and understanding of accounting theory, concepts and principles, financial accounting reporting, and cost allocations.
- Diligence and attention to details.
- Working knowledge of Imprest Accounting-related SAP processes and transactions.
- Planning and budgeting skills proved by experience: able to produce standard activity and unit-level reports and budgets using inputs from senior staff or operational management, and to provide basic analysis of budget information.
- Advanced problem solving, analytical skills.
- Ability to analyze and synthesize information, interpret data, retrieve information and clearly and concisely communicate results. Good data mining skills with working knowledge of Microsoft Package. Advanced Excel skills.
- Effective communication skills with the ability to prepare, present and discuss findings in written or oral form.
- Ability to manage multiple, concurrent tasks with tight deadlines.
- Excellent interpersonal, teamwork and communication skills.
- Fluency in the English language.
Application Closing Date
11th February, 2022 (11:59pm UTC).
How to Apply
Interested and qualified candidates should:
Click here to apply online