Finance & Budget Officer

Do you want to build a career that is truly worthwhile? Working at the World Bank Group (WBG) provides a unique opportunity for you to help our clients solve their greatest development challenges. 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, increasing shared prospering and promoting sustainable development. 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 solutions to the most urgent global challenges. For more information, visit www.worldbank.org.

At COP27 and CMA4, the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC) and the Conference of the Parties serving as the Meeting of the Parties to the Paris Agreement (CMA) established funding arrangements to assist developing countries particularly vulnerable to climate change. This decision included the creation of the Fund for responding to Loss and Damage (FRLD), with a focus on providing support to affected nations.

At COP28 and CMA5, the COP/CMA formally approved the Fund's Governing Instrument, designating it as part of the UNFCCC's financial mechanism and placing it under the guidance of both COP and CMA. The decision authorized the FRLD's Board to secure a hosting arrangement with the World Bank as an interim trustee for four years, which includes hosting the Fund's secretariat. The World Bank has agreed to act as trustee and administer the Trust Fund in line with the COP/CMA's stipulations. The FRLD Secretariat, hosted by the World Bank in Washington, D.C., supports FRLD governing bodies, manages institutional relations, aids in strategy, policy, and program development, and oversees management systems.

The FRLD Secretariat, led by the Executive Director (ED), coordinates FRLD's strategic activities across its governing bodies, including the Board, and the World Bank (as Trustee and Secretariat host), and other stakeholders. It also drives thought leadership, manages portfolio risk, and develops initiatives to mobilize resources.

The Finance and Budget Officer will report directly to the Program Manager - Budget and Financial Management and will work under his day-to-day supervision. He/She will collaborate closely with the Secretariat staff and external stakeholders, including Board members, members of the Budget Committee, the World Bank Trustee, and civil society.

The position is based in Washington, D.C., USA, and may involve occasional travel.

Duties and Responsibilities:

1. Budgeting, Financial Reporting, and Monitoring:

• Collect, consolidate, and reconcile budget inputs from across Secretariat units. Prepare comprehensive draft budgets for review by the Program Manager.
• Support the drafting of the Secretariat's Workplan in alignment with the Administrative budget.
• Prepare periodic financial reports and statements - including monthly and periodic budget execution reports for the Board, the Budget Committee, and other stakeholders.
• Track variances against approved budgets, flag deviations, and maintain up-to-date financial records.
• Support the design, development, and regular updating of financial and budget dashboards, compiling key performance metrics and budget utilization trends to support data-driven decision-making.

2. Trust Fund Financial Management and Systems:

• Support the Program Manager and the DED as TTL of the Administrative Trust Funds, in the setup and maintenance of FRLD Trust Fund financial systems governed by World Bank policies and procedures, including the implementation of financial monitoring frameworks.
• Provide day-to-day operational support on financial management of FRLD-managed trust funds, including cost planning, fund allocation tracking, performance monitoring, and the preparation of financial analyses for the Board and stakeholders.

3. Policy Compliance and Process Optimization:

• Provide operational support on financial and fiduciary management matters in compliance with World Bank policies and procedures, including quality assurance efforts and ensuring best practices in financial planning, risk mitigation, and reporting.
• Contribute to the evaluation and improvement of financial management processes related to FRLD trust funds to enhance operational efficiency and support alignment with resource mobilization and allocation strategies.

4. Stakeholder Coordination and Board Support:

• Support the Program Manager in liaising with World Bank units (e.g., DFi, LEG, WFA, TRE, BPS), the Trustee, the Secretariat divisions, the Budget Committee, and other key stakeholders to facilitate coordination on all trust fund and financial management matters.
• Support the preparation of Board and Budget Committee documentation on financial planning and budget-related matters, including drafting papers, preparing presentations, and conducting technical briefings as requested.
• Coordinate with the Governance and Board Affairs team on decision-making processes, including drafting decision text.