Finance Officer- Hong Kong, China

Job #:	132426
Title:	Finance Officer
Job Stream:	Financial Sector
Location:	Hong Kong, China
Closing Date:	11/13/2013

Background / General description:
The mission of the International Finance Corporation (IFC), the private sector arm of the World Bank Group, is to promote sustainable private sector development to help to reduce poverty and to improve people's lives. The Manufacturing, Agribusiness & Services Asia Department is seeking a Finance officer / analyst to be based in Hong Kong. The candidate’s main responsibility will be to assist the Regional Industry Director (MAS) in managing all areas of budget administration including but not limited to budget, work program, internal controls and staffing issues. In addition to oversight the budget, the candidate would also closely monitor and forecast investment portfolio and associated economic capital and profitability impact tied to delivery of strategic objectives. Reporting to the Asia Controller, the candidate will be a key member of the Asia 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 Finance Officer will be the main provider of Financial Reporting & Analyses services and play a leading role in providing decision support to the Regional Financial Controller and the regional 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 Corporate Finance and Accounting (CFA) Department’s business partnership vision. The person will also work closely with the MAS budget team and other budget /finance team members in Washington and Asia offices. He/she would be entrusted with sensitive and confidential information and relied on for his/her experience and sound judgment.

Duties and Accountabilities:
1. Budget Planning – Take lead in budget formulation for the department including preparation of staffing plan, staff mapping and other schedules required by corporate budgeting. Assist department management team, regional and MAS budget team in strategy preparation and presentation. Provide statistics and performance indicators that help management with strategic decision making. 2. Reimbursable management -- Effectively monitor and manage the reimbursable budget for projects managed by the department. Ensure timely billing and collections. Provide status reports to department management on pending billing, collections and other critical issues related to Reimbursable Budget. 3. Independently monitor the department’s administrative, reimbursable, pooled fee, jeopardy and trust fund budgets. Appraise management of spending trends, help them control expenditure and make wise spending decisions, by preparing project costing reports, monthly budget status and fiscal year end projections, midyear and retrospective review. 4. Working with budget-holders on analysis of cost structures and cost drivers to identify and drive home cost savings. Generating ideas and proposals on how to streamline and modernize the VPU’s budget structure and organization, with a view to capturing greater efficiencies. 5. SAP transactions management -- review expenses and commitments, perform reposting on BB and other sources of fund and liaise with Chennai on all TF repostings (staff costs, field benefits, etc.); run monthly expense reports, travel reports, etc. Manage charge codes. 6. Reconciling actuals vs. estimates, forecasting expenditures, providing sensitivity analyses, and reposting incorrect or invalid expenditures. 7. Serve as the main service provider for integrated financial reporting and analysis and decision making support to the Asia Regional Financial Controller and Management Team. 8. Lead, coach and mentor the regional finance staff on matters relates to investment operations results measurement and help build a regional center of expertise for financial reporting & analyses. Leverage knowledge within the team to provide guidance and training to local internal clients. 9. 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 ‘financial sustainability champion’ for MAS Asia and Asia region through direct interaction with operational and management team(s). Specifically, provide tools and decision making support for the MAS Asia Director and Senior managers to achieve their business objectives on-going basis. Look for ways to upgrade capabilities both from the systems and the staffing perspective, to ensure an adequate financial sustainability infrastructure and service level. Make resource requirement recommendation(s) to Regional Financial Controller. 10. Lead efforts in the development of financial and operational metrics reporting tools to ensure that operational heads and management have access to the information required to make informed business decisions. Work closely with Senior Management and designated work groups to improve and measure productivity and efficiency targets. Actively support the development of productivity measures, identifying suitable benchmarks and providing periodic reports on progress to management. Support the Regional Controller in sharing of results with management. 11. Manage the preparation and timely delivery of key financial analyses and reports both routine and ad-hoc. Help build analytical capabilities within the region to identify and articulate key drivers of profit trends and investigate profit related anomalies. 12. Assist the Regional Controller in coordinating profitability forecasting in the region and other forward looking management information and collaborate with the CFA’s Business Partnership Team to share corporate level best practices and guidelines in presenting profitability information to secure consistent implementation and reporting. 13. Play a key role in the annual budget planning and formulation process to ensure that financial sustainability goals are adequately addressed and measures are put in place to support budget proposals. 14. Develop and/or leverage tools by working with the Corporate Business Technology (CBT) department and CFA to enhance existing reports in corporate systems to improve usability and reliability. 15. Keep abreast of new WB/IFC policies/procedures in the financial reporting area, ensuring these are communicated and consistently implemented throughout the Asia region.

Selection Criteria:
- Master degree in Accounting, Finance, Business or Economics and at least 5-6 years of relevant financial management experience in a corporate setting. - Professional Accounting Qualification (CIMA, ACCA, CPA Preferred) - 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. - 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. - 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. Strong problem solving, conceptual, analytical and evaluation skills. - Excellent interpersonal skill, team player. - Advanced skills in Excel and Access, working knowledge of Microsoft office, Internet, Lotus Notes applications, Corporate reporting tools - Willingness to travel throughout the region and to HQ as required