Job # :112484
Job Title: Financial Officer - Market Data Specialist
Job Family :Financial Sector
Location: Washington, DC
Appointment: International Hire
Closing Date: 03-Jan-2012
Language Requirements: English [Essential]
Background / General description
The Controller’s Vice Presidency is responsible for all aspects of the financial reporting and internal controls framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA) and the extensive Trust Funds/Partnership portfolio of these two entities. The Controller’s Vice Presidency (CTR) is also responsible for expressing Finance’s viewpoint on controls over bank operations, particularly those which validate the appropriateness of loan disbursements.
Organizationally, CTR is comprised of the (1) Financial Instruments Department; (2) Loans; and
(3) Client Services Department, as well as the Financial Analysis and Reporting, Accounting Policy, Knowledge Dissemination, and Operational Risks and Controls units. These teams collectively include approximately 400 staff, of which 150 are located at headquarters with the remaining 250 staff located in regional offices, the largest being in Chennai, India. The Financial Instruments Department is responsible for product control functions for all financial instruments utilized by IBRD, IDA and Trust Funds for their operations except for pension funds. These include, agreeing to models to value these instruments, market data sourcing and verification, establishing accounting policies around financial instruments, independent price verification, accuracy of accounting ledgers, and reviewing accuracy of financial statements regarding these financial instruments. Additionally the department is responsible for validation of models of all financial instruments used, client relationship for borrowers including receivable management, and data management for the financial instruments. The department is comprised of separate divisions responsible for product control functions for structured products, non-structured products, and market priced products to emphasize key focus areas that will be comparable with the market. Additionally there are Client relationship and control units. Though this position will be within the Structured Financial Instruments division, the candidate will be part of a cross departmental market data oversight group responsible for reviewing market data across the department. In fiscal year 2011, the World Bank disbursed new loans, credits and grants of about $32 billion, for a total loans and credit stock of $256 billion; borrowed approximately $29 billion as part of its $123 billion in debt funding (at fair value). 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 4 year renewable term appointment.
Duties and Accountabilities
The Financial Officer – Market Data Specialist will work as part of a team of professionals in Controller’s Financial Instruments Department (CTRFD) to meet the group’s responsibilities as they relate to the accounting and valuation of financial instruments.
Responsibilities will include the following:
• Preparation and quality assurance of calculated market data, evaluation of data sources, and verification of the data reliability.
• Assist in the development and enhancement of market data platform conceptually and methodologically.
• Establishing a market data management strategy and providing oversight of the market data governance process.
• Finding and correcting errors in existing market datasets.
• Proactively interact with World Bank Treasury (TRE) front office business units to stay abreast of new/proposed activities that may have accounting or reporting implications.
• Continually look for opportunities to improve processes and internal controls. Be responsible for promoting controls and ensuring compliance in CTR.
• Provide analysis of results to management and other units in the Bank
Selection Criteria
1. Advanced degree(s) in Finance, Mathematics and/or Economics and a minimum of 3 years’ relevant experience in finance, investments, derivatives and structured transactions, or equivalent combination of education and experience.
2. Good understanding of market data requirements for capital market related trading activities.
3. Professional experience with major financial institutions with practical knowledge of interest rate curve construction, yield and FX volatility surfaces and correlations, as well as Bond/Swap valuation methods including cancellable instruments.
4. Strong understanding of fixed income and debt derivative products with emphasis on interest rate and FX option pricing theory.
5. Proven quantitative and qualitative analytical skills including familiarity with financial modeling techniques.
6. Strong knowledge of the functionality of applications such as Reuters, Summit and Bloomberg
7. CFA preferred. CPA/CA qualification is an advantage.
8. Demonstrated high level of initiative, self-confidence and a self-starter.
9. Diplomacy and strong interpersonal skills; commitment to work in a team-oriented, multi-cultural environment; detail oriented.
10. Proven capacity to multi-task, deliver results and respond quickly and effectively to requests. Ability and desire to meet tight deadlines.
11. Excellent verbal and written communication and presentation skills.
12. Highest ethical standards.
The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background. Individuals with disabilities are equally encouraged to apply.
All applications will be treated in the strictest confidence.
Click here to Apply
Closing Date: Tuesday, 03 January 2012
Job Title: Financial Officer - Market Data Specialist
Job Family :Financial Sector
Location: Washington, DC
Appointment: International Hire
Closing Date: 03-Jan-2012
Language Requirements: English [Essential]
Background / General description
The Controller’s Vice Presidency is responsible for all aspects of the financial reporting and internal controls framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA) and the extensive Trust Funds/Partnership portfolio of these two entities. The Controller’s Vice Presidency (CTR) is also responsible for expressing Finance’s viewpoint on controls over bank operations, particularly those which validate the appropriateness of loan disbursements.
Organizationally, CTR is comprised of the (1) Financial Instruments Department; (2) Loans; and
(3) Client Services Department, as well as the Financial Analysis and Reporting, Accounting Policy, Knowledge Dissemination, and Operational Risks and Controls units. These teams collectively include approximately 400 staff, of which 150 are located at headquarters with the remaining 250 staff located in regional offices, the largest being in Chennai, India. The Financial Instruments Department is responsible for product control functions for all financial instruments utilized by IBRD, IDA and Trust Funds for their operations except for pension funds. These include, agreeing to models to value these instruments, market data sourcing and verification, establishing accounting policies around financial instruments, independent price verification, accuracy of accounting ledgers, and reviewing accuracy of financial statements regarding these financial instruments. Additionally the department is responsible for validation of models of all financial instruments used, client relationship for borrowers including receivable management, and data management for the financial instruments. The department is comprised of separate divisions responsible for product control functions for structured products, non-structured products, and market priced products to emphasize key focus areas that will be comparable with the market. Additionally there are Client relationship and control units. Though this position will be within the Structured Financial Instruments division, the candidate will be part of a cross departmental market data oversight group responsible for reviewing market data across the department. In fiscal year 2011, the World Bank disbursed new loans, credits and grants of about $32 billion, for a total loans and credit stock of $256 billion; borrowed approximately $29 billion as part of its $123 billion in debt funding (at fair value). 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 4 year renewable term appointment.
Duties and Accountabilities
The Financial Officer – Market Data Specialist will work as part of a team of professionals in Controller’s Financial Instruments Department (CTRFD) to meet the group’s responsibilities as they relate to the accounting and valuation of financial instruments.
Responsibilities will include the following:
• Preparation and quality assurance of calculated market data, evaluation of data sources, and verification of the data reliability.
• Assist in the development and enhancement of market data platform conceptually and methodologically.
• Establishing a market data management strategy and providing oversight of the market data governance process.
• Finding and correcting errors in existing market datasets.
• Proactively interact with World Bank Treasury (TRE) front office business units to stay abreast of new/proposed activities that may have accounting or reporting implications.
• Continually look for opportunities to improve processes and internal controls. Be responsible for promoting controls and ensuring compliance in CTR.
• Provide analysis of results to management and other units in the Bank
Selection Criteria
1. Advanced degree(s) in Finance, Mathematics and/or Economics and a minimum of 3 years’ relevant experience in finance, investments, derivatives and structured transactions, or equivalent combination of education and experience.
2. Good understanding of market data requirements for capital market related trading activities.
3. Professional experience with major financial institutions with practical knowledge of interest rate curve construction, yield and FX volatility surfaces and correlations, as well as Bond/Swap valuation methods including cancellable instruments.
4. Strong understanding of fixed income and debt derivative products with emphasis on interest rate and FX option pricing theory.
5. Proven quantitative and qualitative analytical skills including familiarity with financial modeling techniques.
6. Strong knowledge of the functionality of applications such as Reuters, Summit and Bloomberg
7. CFA preferred. CPA/CA qualification is an advantage.
8. Demonstrated high level of initiative, self-confidence and a self-starter.
9. Diplomacy and strong interpersonal skills; commitment to work in a team-oriented, multi-cultural environment; detail oriented.
10. Proven capacity to multi-task, deliver results and respond quickly and effectively to requests. Ability and desire to meet tight deadlines.
11. Excellent verbal and written communication and presentation skills.
12. Highest ethical standards.
The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background. Individuals with disabilities are equally encouraged to apply.
All applications will be treated in the strictest confidence.
Click here to Apply
Closing Date: Tuesday, 03 January 2012
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