Job Description

Senior Finance Officer



Job #:
req25152


Organization:
IFC


Sector:
Finance & Accounting


Grade:
GG


Term Duration:
3 years 0 months


Recruitment Type:
International Recruitment


Location:
Johannesburg,South Africa


Required Language(s):
English


Preferred Language(s):



Closing Date:
12/1/2023 (MM/DD/YYYY) at 11:59pm UTC

Description IFC xe2x80x94 a member of the World Bank Group xe2x80x94 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 2023, IFC committed a record US$43.7 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 global compounding crises. 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 IFCxe2x80x99s strategy and resource management capabilities and deliverables while supporting IFCxe2x80x99s financial sustainability mandate is imperative for our strategic engagements and client delivery. The Finance Unit (CBAAF) for the Africa Region (CAF) is responsible for work program planning, budgeting, monitoring, budget & financial reporting 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. CBA is seeking a Senior Finance Officer to lead the CBAAF Team. The selected candidate will oversee and manage the finance, budget and accounting function in CAF and supervise a network of 22 finance staff that provide services to CAF management, operational staff, and other clients. The CAF Senior Finance Officer will serve as a primary link between the CBA, CAF Management, Human Resources, and World Bank Group Finance and Accounting (WFA) to ensure robust financial management of total CAF resources and tight integration between CAF strategy and operations, financial and human resources, office ecology, and cost-efficiency measures. The location and recruitment type of this position will be in the CAF regional head office in Johannesburg, South Africa. Some travel within the region will be required. Role & Responsibilities: The Senior Finance Officer, Africa will be responsible for: Budget and Resource Management

• Lead and collaborate with the business at various levels (Regional Director/Country Managers/Department Managers etc.) for unit-level budget activities (annual planning, forecasting) and resource alignment to strategy and business priorities.
• Lead budget discussions and assessments with business units.
• Manage staff cost affordability for the unit in collaboration with the HR Business Partner.
• Partner with the Partnership team on Donor funding availability and utilization of Internal funds for projects and programs according to Governance.
• Monitor capital projects and manage their financial impact.
• Actively participate in Global/Regional/Functional ad-hoc working groups to tackle problems and share best practices.

Management Reporting and Analytics

• Contribute to executive decision-making with analytics, financial advice, and budget management to improve business performance.
• Independently supervise donors' reporting function within the regional department.
• Deliver value-added analytics and solutions to enable better decision-making for clients.
• Lead delivery of financial and operational reports on a monthly and quarterly basis.
• Collaborate with the Real Estate team on office ecology and footprint analytics.
• Establish a strong knowledge network and promote knowledge sharing within and outside CBA.

Financial Control and Compliance

• Supervise finance and accounting activity in Regional Country Offices.
• Support the departmentxe2x80x99s internal control framework and monitor financial transactions
• Design, development, and implementation of control procedures to manage and mitigate fiduciary risk.
• Lead quality assurance reviews of reports, ensuring compliance with institutional requirements.
• Document processes, risks, and controls and assign internal accountabilities.
• Identify opportunities to automate and simplify processes and implement improvements for efficiency within Policy framework.
• Maintain strong control environment and scorecard ratings.
• Provide business intelligence and support during audits.
• Ensure compliance with World Bank group policies and procedures in the Region.

Team Management

• Lead and coach the CBA Africa team on their annual objectives, personal development goals and long-term career growth.
• Develop a structured approach for staff learning and development, aligned with competency framework and succession planning.
• Build capacity within the team and provide mentorship to meet individual needs.
• Leverage the expertise of all team members for successful outcomes. encourage open communication and collaboration and facilitate new ways of doing things.
• Promote the sharing of knowledge and information within the team to scale best practices.

Selection Criteria

• A relevant advanced degree (e.g., Finance, Accounting, Business, Economics, etc.) and substantial professional experience (12-15 years) in positions of increasing complexity and responsibility.
• Recognized professional accounting accreditation (CPA, CMA, CIMA, ACCA, etc.) and sound knowledge of accounting theory and practical financial skills, including financial reporting, business planning, budgeting, profitability analysis, and financial management.
• A strong understanding of resource management processes, procedures, systems, and policies in IFC is desirable.
• Superior written and verbal English communication skills, along with excellent presentation abilities
• High degree of professional integrity, discretion, tact, and sensitivity, conveying complex messages concisely and diplomatically. Willing to risk expressing beliefs about what is right, despite criticism or disagreement.
• Excellent professional judgment, analytical and conceptual skills, with the ability to identify issues, formulate options, and develop pragmatic solutions that persuade and influence management decisions for action and the capacity to respond quickly, selectively, and flexibly to a wide range of issues.
• Recognized team player who collaborates, works well with others and demonstrates effectiveness. Proven ability to build common goals while managing diverse views and the ability to hear others' ideas and make changes in plans or thinking as a result (as appropriate).
• Proven people management skills, with the ability to attract, lead, mentor and develop talent in multiple countries and cultures.
• Sound organizational skills, ability to multitask, and attention to detail while maintaining an overview of unit priorities.
• Strong client and business orientation with consultative skills to understand, synthesize and define business solutions, balancing client and corporate needs.
• Ability to develop innovative solutions and challenge the xe2x80x9cstatus quoxe2x80x9d to improve processes focused on end results.
• Ability to analyze and synthesize information, interpret data, retrieve information, and clearly and concisely communicate results.
• Strong understanding of internal controls and corporate procedures: Influences internal control policies, processes, and procedures to align with entity objectives, mitigate risk, and ensure compliance with laws and regulations. Leads team in improving control environment.
• Working knowledge of SAP processes and transactions.
• Good data mining skills with working knowledge of Microsoft Package. Advanced Excel skills.

World Bank Group Core Competencies The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities. We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability. Learn more about working at the World Bank and IFC, including our values and inspiring stories.