Position: Finance & Budget Officer, Johannesburg, South Africa
Organization: IFC - International Finance Corporation
Country: South Africa
City: Johannesburg
Office: IFC Johannesburg
Background and General description
The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. It is committed to financing private sector businesses in emerging markets, mobilizing capital, helping clients improve social and environmental sustainability and providing advisory services to businesses and others. IFC's Sub-Saharan Africa Department (CAF) is among IFC's largest regions, operating via major office hubs in Nairobi, Dakar and Johannesburg and several other key offices. With an investment portfolio of around $8bn, CAF also has the largest advisory operations of all IFC Regions. Of some 450 staff on the ground, 150 are mapped directly to the CAF regional department, and the balance to IFC industry departments and WB GPGs. CAF has an administrative budget of $25 million, as well as Advisory Service trust fund budgets and other IFC funds sources managed in the region. In order to proactively manage the financial sustainability of CAF region in addition to the operational and developmental results, the finance function of CAF region is enhancing its focus on financial sustainability. The CAF Finance function provides an important contribution by working across operational departments and supports the region's Management team on (i) allocating resources and capital on the basis of profitability and productivity measures; (ii) analysis of the drivers of current and future operational results; and (iii) the further implementation of best practice corporate governance.
IFC Johannesburg
14 Fricker Road, Illovo 2196
Johannesburg, South Africa
Specifically, the region is looking to hire a Finance and Budget Officer who, in addition to proactive and robust budget management, would also play a role in monitoring and forecasting investment portfolio and associated economic capital and profitability impact tied to delivery of strategic objectives. Reporting to the Senior/Principal Finance Officer, the incumbent will be a key member of the CAF Finance Team and will work closely with the business and financial sustainability network to achieve financial sustainability, develop integrated reporting, and seek ways to further improve efficiency and productivity in the region.
The incumbent will be the main provider of budget management and analyses, integrated with HR planning, and for financial reporting and also play a leading role in providing decision support to the CAF Senior/Principal Finance Officer and CAF Management in the areas of investment program, portfolio supervision, profitability, efficiency measurements, and economic capital allocation. Further building relationships across Regional and Industry Departments, Advisory Services, HR, Strategists, and the Budget and Finance Network, the Finance Officer will play a key role in strengthening and further implementing the IFC Corporate Finance and Accounting (WFA) Department's business partnership vision.
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 year term appointment.
Key Duties and Accountabilities
The incumbent will serve as the key resource in the Finance team in (i) consolidating all budget planning, budget management and reporting, including cost impacts of staffing plans, and covering all funds sources in a single, consolidated CAF regional view and (ii) in investment business analysis and reporting (IQMR process).
Budget planning, financial management and HR linkages
Support the Senior/Principal Finance Officer and CAF Management Team on financial and budget management work by playing a key role in the annual budget planning and monitoring process, integrated with HR planning.
In partnership with HR, prepare staffing forecasts and respective budget requirements for the Region, in liaison with GCSVP team, budget network and WFA on staff planning and budgeting.
Act as Regional focal point for IFC systems involved into staffing planning or staff movements process (SBD, PeopleSoft, new SAP BPS).
Ensure actual staff records and planned positions in PeopleSoft have correct and updated budget information including funding sources and follow governance from EVP office / WFA on staff recruitment / movement process.
Ensure accurate information is reflected for unit staffing and budget forecast in SBD system.
Work in collaboration with country managers/officers and country office accountants to consolidate country office budgets for all source of funds used by country office.
Prepare Regional budget proposal for funds needed to support Regional activities according to work program requirements for the Region and liaise on regional budget allocations with Directors, advising on fungibility of the various funding sources.
Act as central point for Regional AS/IS cost sharing agreement set-up and execution. This includes shared staff and overheads. Work closely with Facilities department to forecast / report shared expenses for IFC office footprint.
Serve as central point for mobility benefits budgeting and execution of ceilings in the Region.
Contribute to country office overheads rates construction for AS overheads allocation methodology in collaboration with country office accountants.
Oversee Capital budget of Regional projects. Work closely with GSD to ensure Results Agreements reflect best of IFC interest, have approved by regional management budgets in place, and that these budgets are adhered to for active construction projects. SAP management, Monitoring and Reporting
Advise on and set up financial structures (cost centers, WBS elements, workflow) in IFC SAP systems to ensure consistent treatment of CAF expenses, per funds source.
Generate analyses on administrative budget usage including cost efficiency indicators.
Oversee accurate TRS charge codes for staff based in the Region for correct staff time accounting. Serve as overall Regional TRS coordinator for BB-funded charge codes.
Liaise closely with FMTAAS and BBS-Admin funded staffing and other expenses.
Monitor expense versus budget position on all funds sources and prepare budget reports.
Liaise with country managers or within the team actual vs budget position and suggest actions.
Prepare ad-hoc analysis and reports/forecast as needed, integrating all source of funds.
Guidance on Budget Implementation
Provide expert advice and guidance on procedures, ensuring compliance with WBG resource management and administrative policies, but also providing solutions.
Especially for WBG travel policy compliance, lead on expenditure review actions and follow-up.
Promote sharing of knowledge sharing and information with the team and other colleagues
Participate in corporate initiatives led by WFA or change initiatives within CAF finance team. Investment business analytics and reporting
Contribute to investment analysis and integrated management reporting (IQMR) process analysis and decision making
Lead in the preparation and timely delivery of key financial analyses and reports both routine and adhoc. Help build analytical capabilities within the region to identify and articulate key drivers of profit trends and investigate profit related anomalies.
Coach and mentor the finance team on matters related to investment operations results measurement and help build a regional center of expertise for financial reporting and analyses.
Partner with Investment Operations, Advisory Services, Asset Management Company and Support departments to achieve financial and strategic goals for financial sustainability.
Serve as back-up to the CAF Senior/Principal Finance Officer in the latter's 'financial sustainability champion' role. Provide support to latter coordinating profitability forecasting in the region and other forward looking management information and collaborate with WFA's Business Partnership Team to share corporate level best practices and guidelines in presenting profitability information to secure consistent implementation and reporting.
Mode of Selection.
Masters degree in Accounting, Finance, Business or Economics and at least 7 years of relevant financial management experience in a corporate setting.
Sound knowledge and understanding of accounting theory, concepts and principles, combined with proven practical skills in financial accounting reporting, business planning, profitability forecasting, and financial management.
Possess strong Corporate-wide knowledge and understand IFC culture through networking.
Excellent technical knowledge and understanding of financial concepts involving profitability analysis, capital allocation, productivity, and fundamental financial/expense controls.
Ability to conduct independent research and analysis, identify issues, formulate options, draw conclusions, submit recommendations and help influence Clients. Proven ability to conceptualize, design and implement major projects and produce major/complex reports and recommendation.
Strong knowledge of IFC (investment) IT systems, data, IFC's value chain, business processes, and operational procedures.
Experience in leading and building productive teams and working collaboratively across functions, departments, and stakeholders. Exceptional organizational and multi-tasking skills.
Strong communication skills, both written and oral, to convey complex financial and program issues in a clear and concise way to Clients. Willingness to share knowledge with colleagues
Strong problem solving, conceptual, analytical and evaluation skills.
Advanced skills in Excel and Access, working knowledge of Microsoft office, Internet, Lotus Notes applications.
Application procedure
Use the links provided below to visit the original announcement on the recruiting organization's website.
(http://www.ifc.org/wps/wcm/connect/Careers_Ext_Content/IFC_External_Corporate_Site/IFC%20Careers/Career%20Opportunities/CareerOpportunityPlaceHolder?JobReqNo=151088)
Closing Date: 07/08/2015
Organization: IFC - International Finance Corporation
Country: South Africa
City: Johannesburg
Office: IFC Johannesburg
Background and General description
The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. It is committed to financing private sector businesses in emerging markets, mobilizing capital, helping clients improve social and environmental sustainability and providing advisory services to businesses and others. IFC's Sub-Saharan Africa Department (CAF) is among IFC's largest regions, operating via major office hubs in Nairobi, Dakar and Johannesburg and several other key offices. With an investment portfolio of around $8bn, CAF also has the largest advisory operations of all IFC Regions. Of some 450 staff on the ground, 150 are mapped directly to the CAF regional department, and the balance to IFC industry departments and WB GPGs. CAF has an administrative budget of $25 million, as well as Advisory Service trust fund budgets and other IFC funds sources managed in the region. In order to proactively manage the financial sustainability of CAF region in addition to the operational and developmental results, the finance function of CAF region is enhancing its focus on financial sustainability. The CAF Finance function provides an important contribution by working across operational departments and supports the region's Management team on (i) allocating resources and capital on the basis of profitability and productivity measures; (ii) analysis of the drivers of current and future operational results; and (iii) the further implementation of best practice corporate governance.
IFC Johannesburg
14 Fricker Road, Illovo 2196
Johannesburg, South Africa
Specifically, the region is looking to hire a Finance and Budget Officer who, in addition to proactive and robust budget management, would also play a role in monitoring and forecasting investment portfolio and associated economic capital and profitability impact tied to delivery of strategic objectives. Reporting to the Senior/Principal Finance Officer, the incumbent will be a key member of the CAF Finance Team and will work closely with the business and financial sustainability network to achieve financial sustainability, develop integrated reporting, and seek ways to further improve efficiency and productivity in the region.
The incumbent will be the main provider of budget management and analyses, integrated with HR planning, and for financial reporting and also play a leading role in providing decision support to the CAF Senior/Principal Finance Officer and CAF Management in the areas of investment program, portfolio supervision, profitability, efficiency measurements, and economic capital allocation. Further building relationships across Regional and Industry Departments, Advisory Services, HR, Strategists, and the Budget and Finance Network, the Finance Officer will play a key role in strengthening and further implementing the IFC Corporate Finance and Accounting (WFA) Department's business partnership vision.
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 year term appointment.
Key Duties and Accountabilities
The incumbent will serve as the key resource in the Finance team in (i) consolidating all budget planning, budget management and reporting, including cost impacts of staffing plans, and covering all funds sources in a single, consolidated CAF regional view and (ii) in investment business analysis and reporting (IQMR process).
Budget planning, financial management and HR linkages
Support the Senior/Principal Finance Officer and CAF Management Team on financial and budget management work by playing a key role in the annual budget planning and monitoring process, integrated with HR planning.
In partnership with HR, prepare staffing forecasts and respective budget requirements for the Region, in liaison with GCSVP team, budget network and WFA on staff planning and budgeting.
Act as Regional focal point for IFC systems involved into staffing planning or staff movements process (SBD, PeopleSoft, new SAP BPS).
Ensure actual staff records and planned positions in PeopleSoft have correct and updated budget information including funding sources and follow governance from EVP office / WFA on staff recruitment / movement process.
Ensure accurate information is reflected for unit staffing and budget forecast in SBD system.
Work in collaboration with country managers/officers and country office accountants to consolidate country office budgets for all source of funds used by country office.
Prepare Regional budget proposal for funds needed to support Regional activities according to work program requirements for the Region and liaise on regional budget allocations with Directors, advising on fungibility of the various funding sources.
Act as central point for Regional AS/IS cost sharing agreement set-up and execution. This includes shared staff and overheads. Work closely with Facilities department to forecast / report shared expenses for IFC office footprint.
Serve as central point for mobility benefits budgeting and execution of ceilings in the Region.
Contribute to country office overheads rates construction for AS overheads allocation methodology in collaboration with country office accountants.
Oversee Capital budget of Regional projects. Work closely with GSD to ensure Results Agreements reflect best of IFC interest, have approved by regional management budgets in place, and that these budgets are adhered to for active construction projects. SAP management, Monitoring and Reporting
Advise on and set up financial structures (cost centers, WBS elements, workflow) in IFC SAP systems to ensure consistent treatment of CAF expenses, per funds source.
Generate analyses on administrative budget usage including cost efficiency indicators.
Oversee accurate TRS charge codes for staff based in the Region for correct staff time accounting. Serve as overall Regional TRS coordinator for BB-funded charge codes.
Liaise closely with FMTAAS and BBS-Admin funded staffing and other expenses.
Monitor expense versus budget position on all funds sources and prepare budget reports.
Liaise with country managers or within the team actual vs budget position and suggest actions.
Prepare ad-hoc analysis and reports/forecast as needed, integrating all source of funds.
Guidance on Budget Implementation
Provide expert advice and guidance on procedures, ensuring compliance with WBG resource management and administrative policies, but also providing solutions.
Especially for WBG travel policy compliance, lead on expenditure review actions and follow-up.
Promote sharing of knowledge sharing and information with the team and other colleagues
Participate in corporate initiatives led by WFA or change initiatives within CAF finance team. Investment business analytics and reporting
Contribute to investment analysis and integrated management reporting (IQMR) process analysis and decision making
Lead in the preparation and timely delivery of key financial analyses and reports both routine and adhoc. Help build analytical capabilities within the region to identify and articulate key drivers of profit trends and investigate profit related anomalies.
Coach and mentor the finance team on matters related to investment operations results measurement and help build a regional center of expertise for financial reporting and analyses.
Partner with Investment Operations, Advisory Services, Asset Management Company and Support departments to achieve financial and strategic goals for financial sustainability.
Serve as back-up to the CAF Senior/Principal Finance Officer in the latter's 'financial sustainability champion' role. Provide support to latter coordinating profitability forecasting in the region and other forward looking management information and collaborate with WFA's Business Partnership Team to share corporate level best practices and guidelines in presenting profitability information to secure consistent implementation and reporting.
Mode of Selection.
Masters degree in Accounting, Finance, Business or Economics and at least 7 years of relevant financial management experience in a corporate setting.
Sound knowledge and understanding of accounting theory, concepts and principles, combined with proven practical skills in financial accounting reporting, business planning, profitability forecasting, and financial management.
Possess strong Corporate-wide knowledge and understand IFC culture through networking.
Excellent technical knowledge and understanding of financial concepts involving profitability analysis, capital allocation, productivity, and fundamental financial/expense controls.
Ability to conduct independent research and analysis, identify issues, formulate options, draw conclusions, submit recommendations and help influence Clients. Proven ability to conceptualize, design and implement major projects and produce major/complex reports and recommendation.
Strong knowledge of IFC (investment) IT systems, data, IFC's value chain, business processes, and operational procedures.
Experience in leading and building productive teams and working collaboratively across functions, departments, and stakeholders. Exceptional organizational and multi-tasking skills.
Strong communication skills, both written and oral, to convey complex financial and program issues in a clear and concise way to Clients. Willingness to share knowledge with colleagues
Strong problem solving, conceptual, analytical and evaluation skills.
Advanced skills in Excel and Access, working knowledge of Microsoft office, Internet, Lotus Notes applications.
Application procedure
Use the links provided below to visit the original announcement on the recruiting organization's website.
(http://www.ifc.org/wps/wcm/connect/Careers_Ext_Content/IFC_External_Corporate_Site/IFC%20Careers/Career%20Opportunities/CareerOpportunityPlaceHolder?JobReqNo=151088)
Closing Date: 07/08/2015