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 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org
IFC’s Budget & Administration Department (CBA) plays a significant role in achieving IFC’s mission – actively contributing to executive decision making by delivering analytics, financial advice and budget and finance management to enhance business performance and delivery of strategy. CBA includes a network of over 200 staff and is embedded in every part of IFC’s business. Key Principles of the Department include Client Orientation, Transparency and Excellence in functional delivery with a sharp focus on Efficiency and Financial Sustainability. CBA is part of the Vice Presidency for Corporate Strategy & Resource Management with the mandate to connect the dots around the organization and bring insight and consistency to IFC’s financial management, in alignment with strategy implementation.
CBA is seeking a Finance Assistant to work under the supervision of Regional Finance Officer(s), Middle East and North Africa region (CME). The individual has country office(s) finance and budget responsibilities, including financial accounting, accounts payable function, financial controls, monthly accounting reporting & management analytics for country manager and CBA and resource management for IFC country offices in Dubai (UAE) and Riyadh (Saudi Arabia). The incumbent has regional duties to support regional Advisory Services operational staff in budgeting, reporting, and financial data analysis.
Duties and responsibilities:
The Finance Assistant position is based in Dubai (UAE) and the support role is designated to cover the below activities:
Country Office(s) Support Activities
- Prepare country office(s) budgets, accurate forecasts, and resourceful variance analysis with primary focus on decision making support activities to office management.
- Act as Finance Business Partner with office management by providing regular budget updates and timely reporting on discrepancies require management attention.
- Support Country Manager and (or) Regional Head of Operations (RHO) and (or) Global Upstream Managers to cost Upstream initiatives using the Project Costing and Pricing Tool during the annual budget cycle.
- Enter and maintain the Upstream initiatives within the Country Driven Budget System (MS Dynamics).
- Ensure audit, Internal Review for Improvement (IRI), and quality assurance reviews’ recommendations and best practices are discussed with office management and implemented immediately.
- Ensure coordination among Facilities & Admin, Procurement, and Finance teams to support country office efficiently.
- Manage year-end financial processes including accounting for accruals, prepayments, adjusting entries, etc.
- Provide guidance on country office specific issues and timely responses to queries from WBG Global Payment team, Ask Accounting Desk, Imprest Service Desk, Payroll Desk, and other teams.
- Provide regular guidance to country office staff on admin/accounting/travel policies & procedures and ensure Strong Scorecard.
- Preparing the quarterly VAT reports to UAE government to request reimbursement.
- Support New Staff Onboarding in Country Office.
- Run monthly reports to monitor and review open items in Enterprise Resource Planning (ERP) application, process within required thresholds.
- Preparation of monthly Imprest accounting report including bank reconciliation.
- Prepare quarterly Time Recording System (TRS) compliance reports, respond to day-to-day queries from country offices’ staff on TRS related issues.
- Any other financial analysis/reporting requests that may be assigned from time to time.
Regional Support Activities
- Manage Advisory Services business area finances in Middle East and North Africa Region (MENA) and act as primary budget/finance focal point for MENA and Finance Business Partner for the Advisory Services (AS) Business Area(s) operational staff.
- Support regional Advisory Services operational staff in budgeting, reporting, and financial data analysis.
- Communicate to staff in MENA region relevant updates including new procedures, changes in governance, guidelines and templates.
- Actively participate in knowledge transfer and notes sharing activities among MENA Finance Team and contribute to regional initiatives.
Corporate Support Activities
- Support regional AS business area(s) finance lead in efforts to review shared view of Total Resources dashboard reports and provide feedback on reconciliation efforts between different corporate reporting platforms.
- Coordinating business area activities in conjunction with regional and Head Quarters (HQ) based finance officers to ensure smooth financial management support and adherence to corporate procedures.
- Guiding regional staff on corporate systems as needed and consulted by HQ team throughout the budget formulation process as needed.
- Address corporate financial exception reports on a timely basis.
- Support regional and HQ teams on business area(s) related needs and requests.
- Work with MENA Finance Team on rolling out corporate financial/admin initiatives across MENA region.
- Degree in Accounting, Finance, Business or Economics with at least 5 years of working experience.
- Recognized professional accreditation (CPA, CMA, CIMA, ACCA, etc.) is a plus.
- Trust Funds Learning and Accreditation Program (TFLAP) is a plus.
- Sound knowledge and understanding of accounting theory, concepts and principles, financial accounting reporting, budgeting, and cost allocations.
- Excellent data mining skills within complex, inter-related IT data systems, business processes and operational procedures and excellent skills in Excel and Powerpoint.
- Strong problem solving, conceptual, analytical and evaluation skills.
- Ability to research, analyze and synthesize information, interpret data, retrieve information and clearly and concisely summarize result.
- Prior experience in ERP applications (SAP) is a significant advantage.
- Strong communication skills with the ability to prepare, present and discuss findings in written or oral form. In particular, complex financial and program issues in a clear and concise way to management and staff.
- Strong interpersonal skills.
- Strong English skills is a must and Arabic is desired.
- Willingness to travel throughout the region and to HQ as required.
- Ability to function effectively in multi-disciplinary teams within a matrix management environment.
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.
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