Term Consultant vacancy at the world bank in Washington, DC
Term Consultant vacancy at the world bank in Washington, DC.
The World Bank, a beacon of global development, invites seasoned professionals to step into the role of Extended Term Consultant.
This is your chance to unlock your expertise and contribute to shaping global financial strategies.
As an influential figure in Treasury, your skills will be instrumental in driving positive change.
Term Consultant vacancy at the world bank in Washington, DC
Seize this opportunity to make a lasting impact. Apply by December 28, 2023, and embark on a year-long journey of innovation and influence with the World Bank.
Description
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 .
The Pension Middle Office team (PENMO) under PEN is responsible for providing a full range of functions supporting these investment activities, including the following.
pension plan operational activities, ii) preparation of pension plans financial statements, iii) pension investment performance and attribution, iv) monitoring asset class exposures, v) all investment asset pricing and valuation, and vi) third-party clients’ reporting.
Task Description
- Monitoring outgoing payments and assisting with call backs. o Providing trading/operational support for internally managed trades and derivative settlements.
- Confirmations, reconciliation, settlement monitoring and acting as a primary point of contact with respect to assisting with other post trade events.
- Responsible for resolving and/or escalating daily operational issues with clients, custodians, fund administrators and other counterparties. o Processing of corporate actions, and income possessing, or other administrative matters in connection with investments of the Plans.
- Detecting and escalating issues with respect to post trade compliance, and/ or late settlement fees arising due to fail trades.
- Compliance monitoring on external managers o Coordination of the new manager on-boarding process with the custodian, manager terminations and/ or asset transfers, opening new accounts, and assisting with various cash management and funding activities.
- Coordinating the class action process with the service provider, internal monitoring of class actions as part of a team and keeping senior management fully informed on relevant developments.
- Detecting and escalating issues with respect to post trade compliance reclaims and/ or late settlement fees arising due to fail trades.
Tax Reclaims
- Working with the internal legal team, external Managers, brokers, issuing companies, custodians, and tax agents .
- To ensure that the Pension plans are granted tax relief at source where possible.
- Monitoring the Pension Plans tax leakage and working with the Plans Custodians and tax agents to reclaim taxes.
Vendor monitoring
Assist with the competitive hiring and onboarding process of key strategic vendors who make up the backbone of Pension operations including but not limited to custodians, Futures clearing merchants class action processors, tax agents etc.
Monitoring the above-mentioned vendor related operational and financial risks through service level agreements, review of SOC 1 reports, regular calls, periodic contract business reviews and key performance indicators.
Aid with process improvement and new system implementation(s), and effective operational procedures and control maintenance.
Selection Criteria
Bachelor’s degree in finance, accounting, economics, or a general business-related field with minimum 3 years of related experience.
Professional certification including CFA or CPA designation a plus.
Good quantitative and qualitative analytical skills and proficiency in Excel, as well as strong technical proficiency in Excel macros and/ or programing.
familiarity with Power Queries, Power Automate, interactive reporting and Oracle databases and efficient use of coding will be a plus.
Ability to handle and analyze large amount of data. o Record of accomplishment project management skills in relation to managing activities between the front and back/middle offices and the trade cycle between external custodians, investment managers and/ or trading counterparties.
Knowledge of accounting and finance principals and procedures, and an understanding of financial markets and instruments; tax experience a plus.
Ability to streamline processes to deliver accurate and useful reports to clients and carry out critical control procedures to a high degree of professionalism.
Knowledge of valuation and/or operations processes related to fixed income, equity, derivative, and alternative asset classes .
