World Bank Office Manila  

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Established in 1944, the WBG is one of the world’s largest sources of funding and knowledge for development solutions. In fiscal year 2018, the WBG committed $67 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $24 billion was concessional finance to its poorest members. It is governed by 188-member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.     The WBG consists of five specialized institutions: The International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). The World Bank is organized into six client-facing Regional Vice-Presidencies, several corporate functions and thirteen Global Practices to bring best-in-class knowledge and solutions to regional and country clients.      The WBG Finance and Accounting Vice Presidency (WFA) is responsible for all aspects of the financial reporting and internal control framework for the IBRD, IDA, IFC, MIGA, and the extensive Trust Fund/Partnership portfolio of these entities. WFA is also responsible for expressing a Finance viewpoint on controls over Bank Group operations, particularly those which validate the appropriateness of loan disbursements. WFA comprises the following functions: Financial Instruments Accounting and Valuation; Loan Operations; Accounting Business Services; Financial Analysis and Reporting; Accounting Policy; Documentation and Communication; Advisory Services; and Operational Risks and Controls.      WFA Accounting Business Services (WFAAB) is a business division in WFA and is responsible for the fair recording and reporting of the WBG’s administrative expenses and fixed assets, which have a combined financial statement value of nearly $5.0B. This includes delivering core accounting services, ensuring maintenance of an effective system of internal controls, and providing strategic leadership on complex business issues pertaining to the following administrative expenses and functions: Accounts Payable, Accounts Receivable, Payroll, Transaction Processing, Tax Allowance Administration, Fixed Asset and Lease Accounting, Travel Accounting, AskAccounting Service Desk, and Country Office Accounting.