Senior Financial Officer
3 days left
Senior Financial Officer
Based: Washington, DC
Full time, contract role
The World Bank Group (World Bank) is one of the world's largest sources of funding and knowledge for developing countries. The World Bank 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. The World Bank is owned by 189-member countries whose views and interests are represented by a Board of Governors and a Washington, DC-based Board of Directors.
More than 190 countries participate in at least one of the five World Bank institutions, each of which specialize in various 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).
Treasury is the Vice Presidency performing treasury functions for the IBRD and IDA and, to varying degrees, for other members of the World Bank. Its activities are organized and grouped into six departments: Capital Markets, Investment Management, Pension and Endowments, Quantitative Solutions and Analytics, Treasury Operations and, Financial Advisory and Banking. Treasury has been a large and significant player in the international financial markets for more than seventy years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager.
Treasury is responsible for: (i) managing approximately $150 billion in assets for the World Bank and other official-sector investors; (ii) leading the World Bank's triple-A rated financing programs in international and domestic bond and derivatives markets; (iii) conducting asset and liability management for the World Bank's balance sheets; (iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and (v) collaborating with the World Bank member countries to help build their capacity. Staff in Treasury regularly interacts and collaborates with the other departments across the Bank and Finance Teams.
To support this effort, the World Bank is recruiting a committed and energetic individual to serve as Senior Financial Officer in CMDSD to contribute to the team’s key functions with a particular focus on the team’s work structuring and executing insurance-linked and other bespoke structured finance transactions. This position offers the opportunity to work with the premier structured finance team within the multilateral development bank space and to contribute to an important mission.
The World Bank Group is committed to achieving diversity in terms of race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply.
Duties and Accountabilities
In this context, the responsibilities of the Senior Financial Officer will include, but not limited to, the following:
- Structuring and executing structured notes for IBRD and IDA and derivatives transactions related to all of IBRD and IDA’s funding activities
- Structuring and executing bespoke hedging transactions for clients, particularly insurance linked transactions in cat bond, cat swap or insurance form
- Working with member countries and market counterparties to develop structures and models to provide insurance coverage for various perils
- Maintaining partnerships with investment banks, underwriters, investors, derivative counterparties and insurance/reinsurance firms
- Representing CMDSD, CMD and Treasury at client and investor meetings as well as at financial market conferences and events
- Providing technical expertise on structured finance, derivatives, capital markets and insurance linked securities to other business units and borrowing countries
- Supporting reporting responsibilities
- Performing other duties as assigned
The successful candidate must have the following qualifications:
- Master’s degree in a field relevant to international finance, with extensive relevant work experience
- In-depth, hands-on experience in capital markets and derivatives, including extensive structured finance experience creating bespoke risk management solutions for clients
- Significant experience with insurance and the insurance linked securities market, including with respect to risks in emerging markets is highly desirable
- Excellent verbal communications skills in English (although not required, a strong background in at least one other major language is desirable). Experienced in creating concise, effective and convincing written material in both prose and slide presentation formats
- Ability to present complex products or analyses in a concise and clear manner
- Sound business judgment and confidence to execute financial market transactions, also under stress or with only imperfect information
- Original thinker, quick learner, good team player with excellent interpersonal skills, initiative and drive, and the ability to interact successfully with all levels within the Bank as well as with external counterparts, such as market counterparts, investors, government authorities, etc.
- Ability to multitask and move projects forward while maintaining high quality output
- Ability to work across units and resolve conflicts smoothly in a multi-cultural environment
- Knowledge of multilateral development bank financial products and policies is desirable.
- Willingness to travel
- Highest ethical standards
For full job description and to apply on-line, please click on the Apply link which will take you to the World Bank Group website. Vacancy number 180838.
Closing date: September 24, 2018