World Bank recruits Portfolio Analyst, Accounting for Chennai, India under Local Hire

World Bank

Job # 101095

Job Title – Portfolio Analyst

Job Family Accounting

Location – Chennai, India

Appointment – Local Hire

Job Posted – 20-May-2010

Closing Date – 27-May-2010

Language Requirements - English [Essential]

Appointment Type

Background / General description

The Loan Client and Financial Services division of The World Bank is co-located in Washington, DC (CTRCF) and Chennai, India (CTRLC). The Division is responsible for the loan accounting and reporting of IBRD and IDA’s loan portfolio and for providing debt service client functions.

The division has responsibilities throughout the loan life cycle with a wide range of internal and external clients. The team interacts daily with IBRD and IDA borrowers on all debt service issues, including repayments, prepayments, loan conversions (interest rate and currency) and providing assistance on future obligations and lending product features. The division works closely with many internal finance groups and is at the forefront of loan policy changes, new product initiations, concessional finance initiatives and customized solutions, especially for the Bank’s middle income country borrowers. As the custodian of all loans related financial information, the division plays a lead role in all loans related system enhancements. Evaluating new terms and products while always striving to strengthen our information and controls provide an interesting work mix and career opportunities.

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 renewable term appointment.

Duties and Accountabilities

This position is in the client services section of The Loan Client and Financial Services (CTRLC) team based in Chennai. The Portfolio Analyst’s primary responsibilities will include, but not limited to, a combination of some of the following activities:

• Implementation of hedging transactions: The candidate will be required to review interest and currency hedges that are being set up for new loans. For risk mitigation hedges that have already been set up, the candidate will be required to monitor / verify hedging data for completeness and accuracy. In this responsibility the candidate will need to develop a close working relationship with all stakeholders including the treasury department of the Bank. Knowledge of Bloomberg/Reuters and experience with systems that support trading activities will be a plus for this responsibility.

• The candidate is also expected to have good insights into money market operations to be able to review and validate inputs received from the treasury department in the areas of interest rates, spreads, and prepayment premiums.

• Loan product structuring: The candidate will have a deep understanding of the Bank’s current lending environment to be able to appreciate the need for new tailor made lending products/structures, understand the implication of new products on the financial and reporting systems, evaluate the back end system / process support required to implement the new products, and work effectively in conceiving, designing and implementing such structures/products in consultation with the treasury department as well as financial services section of the team. The candidate would be expected to play an anchor role in testing and implementing such structures/products in the Bank’s new loan administration platform.

• In addition to the above, the candidate is also expected to share the core work program of the division in the following areas. The candidate will work closely with the financial services section of the team on almost all aspects of the work program.

• Financial management of the Bank’s loan assets: The candidate will be assigned a portfolio of country borrowers. For the assigned portfolio, the incumbent will be responsible for the following activities:

1. Review and set-up of loan parameters: Reviewing loan documentation to ensure all new financial data is properly set-up and populated. This also involves verification of all loan terms to ensure compliance with the Bank’s loan policies and operational procedures.

2. Review and set up of debt service parameters: Responsible for verification and set up of interest rates and other related debt service data for loans.

3. Debt Service Billing: In this capacity the candidate will be responsible for verification of all billing parameters and communication of regular billing data for the assigned portfolio.

4. Overdue Sanction Policy implementation: The candidate will be responsible for implementing the Bank’s graduated approach to debt service overdue sanctions as a result of debt service defaults by borrowers and preparation of monthly asset quality reports for senior management.

• Financial advisory services: Advise country borrowers and internal clients on the Bank’s loan products, loan policies, currency and interest rate risks in lending instruments and associated hedging avenues available. The candidate will be required to maintain and expand in-country relationships with government agencies (borrowers) and the finance community of the Bank.

• Training: A close relationship is maintained by The World Bank with the Central Banks, Ministries of Finance and other Borrower entities so as to provide advise and resolve issues relating to debt service, loan product terms and polices as well as access to loan data. The candidate is expected to support these training programs and make detailed presentations as required. This responsibility will involve considerable travel to other World Bank offices around the world.

• Control Responsibility: Contribute to regular reviews and documentation of procedures and activities of the group in order to identify and mitigate operational risk.

• Support to credit teams: Provide support as necessary to country office credit teams to ensure the smooth operation of the country loan portfolio.

Selection Criteria

• Masters degree in Finance or Business (MBA) preferably with an internationally recognized professional qualification such as a CPA, CFA, CAIA or any other equivalent certification.

• 3 plus years of relevant work experience required in asset management, fund administration or back and middle office supporting operations of commercial banks / international investment portfolios / hedge funds. Such experience gained at a commercial Bank or a major financial institution would be preferred

• Demonstrated ability to learn new technology quickly and effectively for maximum productivity. Knowledge of Bloomberg/Reuters and experience with systems that support trading activities will be an advantage.

• Understanding of lending products and loan administration system and knowledge of fixed income products and financial risk managements will be preferred

• Strong quantitative and analytical skills, including excellent excel spreadsheet skills and familiarity with financial modeling techniques will be a plus

• Excellent written and oral communication skills. Should have a strong commitment to knowledge-sharing within a multicultural environment and the capacity to work simultaneously and effectively on a variety of tasks.

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