Financial Officer - World Bank (2024)

Description

Do you want to build a career that is truly worthwhile? 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 and promoting shared prosperity. 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.

The World Bank

The World Bank is one of the world’s largest sources of funding and knowledge for developing countries and works in more than 100 developing economies to improve living standards and fight poverty. For each client, the World Bank uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth, and improve quality of life. There are five World Bank Group institutions, each of which specializes in different aspects of development: 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 Settlement of Investment Disputes (ICSID).

The World Bank’s Twin Goals

The World Bank has twin goals of ending extreme poverty and promoting shared prosperity. Its capacity to fulfill these goals is underpinned by a Treasury Vice Presidency (“Treasury”) that is widely recognized across the global capital markets for its dynamic professionalism and its record of innovation in obtaining outperformance for its clients in all the Treasury’s functions.

The World Bank Treasury

Treasury is the Vice Presidency performing treasury functions for IBRD and for other members of the World Bank Group. Its activities are organized and grouped along three departments: (1) capital markets, investments & financial products, (2) asset management and advisory, and (3) treasury operations. Treasury has been a large and significant player in the international financial markets for more than 70 years and has achieved a global reputation as a prudent and innovative borrower, investor, and risk manager. Treasury is responsible for: (i) managing more than $185 billion in assets for the World Bank and other official-sector investors; (ii) leading the World Bank’s financing program in international and domestic bond and derivatives markets; (iii) conducting asset and liability management for IBRD and IDA’s balance sheets; (iv) overseeing the development and outreach related to the financing and hedging products that IBRD and IDA provide for their developing-country clients; and (v) collaborating with official sector institutions of member countries to help build their capacity in asset and public debt management.

Within Treasury, the Capital Markets, Investments & Financial Products department (CMI) is responsible for managing annual funding programs for IBRD (approx. $55-65 billion) and IDA (approx. $10-15 billion) and building sustainable capital markets, managing liquid asset portfolios for IBRD and IDA (approx. $115-125 Billion), and the asset and liability management aimed at reducing risk on IBRD and IDA’s balance sheets. CMI also advises clients on loans and risk management products, and structures financial products for development. CMI places a strong emphasis on achieving the best possible financial terms within prudent market, liquidity, credit, operational, and reputational risk parameters. CMI is comprised of six teams carrying out these responsibilities. The working environment is fast-paced and dynamic, as the teams regularly deal with new ideas, projects, and challenges.

CMIIL – Investment management and Liquidity operations: This team manages funds raised for lending activities of IBRD and IDA, by investing the funds in high-grade assets. The main objectives are principal protection and ensuring sufficient cash flow to meet IBRD’s and IDA’s financial commitments. The team also seeks a reasonable return to contribute to net income

CMIIS – Investor Relations and Sustainable Finance: This team works to cultivate, maintain and strengthen investor, rating agency and financial media relationships for IBRD, IDA and IFFIm to help achieve CMI’s funding goals. The team focuses on specific outreach activities, and works closely with other teams in CMI, TRE and other VPUs to contribute to the World Bank’s development purpose and build sustainable capital markets, including by engaging with investors and market participants on environmental, social and governance (ESG) issues.

CMIAP – ALM and Policy: This team is responsible for analytics, monitoring, and policy formulations for activities that impact IBRD and IDA’s balance sheets. The team participates in formulation of policy, guideline, and processes that impact the financial risk and income of IBRD and IDA and works closely with the relevant teams, sets limits and monitors the pre-defined and agreed funding and investment activities. The team also oversees implementation and execution of capital markets activities to support IBRD and IDA’s balance sheet management and provides liquidity calculation and reporting and analysis for rating agencies.

CMIMS – Market Solutions and Structured Finance: This team designs and executes market-based risk management and structured transactions for external and internal clients and provides structuring expertise and advisory services to address development challenges.

CMIFP – Financial Products and Clients Solutions: This team helps clients find solutions for their development financing and risk management needs leveraging IBRD and IDA’s financial products and TRE’s financial expertise and market access. It provides support for IBRD and IDA operations and clients on the full menu of financial and risk management products, pricing and loan customization, blending and co-financing, IDA to IBRD transition, and thematic bond issuance strategies and reporting, among other areas.

CMIDO – Debt Origination: Capital Markets & Investments Debt Origination team (CMIDO) is responsible for managing the World Bank’s (IBRD & IDA) combined annual funding program of approximately USDeq. 60-70 billion in global bond markets. The team manages the World Bank’s benchmark funding program in global currencies as well as emerging market currency funding and helps position and differentiate the World Bank as the premier issuer in the capital market through flawless execution of bonds in many markets around the world.

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 term appointment.

Duties and Responsibilities

CMIMS is searching for a talented Financial Officer to support a growing portfolio of innovative outcome bonds, catastrophe bonds, and other structured financial solutions serving our clients and partners. The Financial Officer will develop and execute structured bond solutions and work as an integral part of a closely collaborating CMIMS team. Primary responsibilities will include:

• Collaborate with underwriters, arrangers, World Bank colleagues and client country counterparts to identify structured bond solutions to development challenges.
• Prepare and execute transactions including evaluating, structuring and negotiating the transaction terms.
• Cultivate and maintain partnership with World Bank Treasury’s global network of financial intermediaries/counterparts.
• Support day-to-day interaction with the Client Advisory unit responsible for managing client relationships and identifying opportunities.
• Support capital markets related initiatives with research, writing, and preparation of Board papers.

The Financial Officer is expected quickly become familiar with the range of IBRD and IDA financial products and services, valuation practices, and risk tolerance to inform feasible solutions.

Selection Criteria

• Master’s degree in finance or equivalent, or a quantitative field.
• 5+ years capital market experience including exposure to structured bonds.
• Experience in structuring and execution of bonds and/or derivatives will be a strong plus.
• Deep understanding of bond math and derivative valuation.
• Ability to create concise, effective, and convincing written material in both prose and slide presentation formats.
• Experience in public speaking/presentations with an ability to present complex products or analysis in a clear and concise manner.
• Experience with investor engagement.
• Strong judgment with the ability to negotiate effectively and influence others without formal authority.
• Original thinker, quick learner, team player with excellent interpersonal skills, initiative and drive with the ability to interact successfully with all levels within the World Bank as well as with external market counterparts, investors, government authorities, etc.
• Good organizational skills and proven ability to multi-task and work quickly under pressure, often under tight and rapidly changing deadlines.
• Strong teamwork skills including across diverse professional and cultural backgrounds.
• Enthusiasm for and a commitment to development work.

Core Competencies:

• Lead and Innovate – Develops innovative solutions.
• Deliver Results for Clients – Proactively addresses client stated as well as their unstated needs.
• Collaborates well within teams and across boundaries – gives own perspective and willingly considers diverse perspectives.
• Create, apply and Share Knowledge – Applies knowledge across WBG to strengthen solutions for
• internal and/or external clients.
• Make Smart Decisions – Interprets a wide range of information and pushes to move forward.

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.

Learn more about working at theWorld BankandIFC, including our values and inspiring stories.