Financial Officer

3 weeks ago

Wenatchee, United States World Bank Group Full time
Financial Officer

Job #:
req27742

Organization:
World Bank

Sector:
Treasury

Grade:
GF

Term Duration:
3 years 0 months

Recruitment Type:
International Recruitment

Location:
Washington, DC,United States

Required Language(s):
English

Preferred Language(s):

Closing Date:
6/17/2024 (MM/DD/YYYY) at 11:59pm UTC

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'sTwin Goals

The World Bank's goals are to end extreme poverty on a livable planet. Itscapacity to fulfill these goals is underpinned by a Treasury Vice Presidency("Treasury") widely recognized across the global capital markets for itsdynamic professionalism and its record of innovation in obtainingoutperformance for its clients in all the Treasury's functions.

The World Bank Treasury

Treasury is the Vice Presidency performing treasury functions for InternationalBank for Reconstruction and Development (IBRD)and other members of the WorldBank Group. Its activities are organized and grouped into three departments:(1) capital markets, investments & financial products, (2) asset managementand advisory, and (3) treasury operations. Treasury has been a large andsignificant player in the international financial markets for over 75 years andhas achieved a global reputation as a prudent and innovative borrower,investor, and risk manager. Treasury is responsible for (i) managing almost$200 billion in assets for the World Bank and other official-sector investors;(ii) leading the World Bank's financing program in international and domesticbond and derivatives markets; (iii) conducting asset and liability managementfor IBRD and the International Development Association's (IDA) balance sheets;(iv) overseeing the development and outreach related to the financing and hedgingproducts that IBRD and IDA provide for their developing-country clients; and(v) collaborating with official sector institutions of member countries to helpbuild their capacity in asset and public debt management.

Capital Markets, Investments andFinancial Products

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

CMIIL -Investment management and Liquidity operations: This team manages funds raised forlending activities of IBRD and IDA, by investing the funds in high-gradeassets. The main objectives are principal protection and ensuring sufficientcash flow to meet IBRD's and IDA's financial commitments. The team also seeks areasonable return to contribute to net income

CMIDO - DebtOrigination: This team isresponsible for raising long and short-term funding in the global capitalmarkets for both IBRD and IDA. The goal is to achieve funding on a sustainablebasis and at the best possible cost through a variety of programs, markets,currencies, and instruments including both plain vanilla and structured notes.The team execute yearly US$60 to US$80 bn of medium-term bonds and a total ofapprox. USD100 bn notional swaps to hedge all the issuances. The team alsomanages 2 short term funding programs (IBRD Discount Notes and IDA Bills) withabout US$25 bn outstanding.

CMIIS -Investor Relations and Sustainable Finance: This team works to cultivate, maintain and strengthen investor, ratingagency and financial media relationships for IBRD, IDA and IFFIm to helpachieve 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 tothe 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 - ALMand Policy: This team isresponsible for analytics, monitoring, and policy formulations for activitiesthat impact IBRD and IDA's balance sheets. The team participates in formulationof policy, guideline, and processes that impact the financial risk and incomeof IBRD and IDA and works closely with the relevant teams, sets limits andmonitors the pre-defined and agreed funding and investment activities. The teamalso oversees implementation and execution of capital markets activities tosupport IBRD and IDA's balance sheet management and provides liquiditycalculation and reporting and analysis for rating agencies.

CMIMS - MarketSolutions and Structured Finance: This team designs and executes market-based risk management andstructured transactions for external and internal clients and providesstructuring expertise and advisory services to address development challenges.

CMIFP -Financial Products and Clients Solutions: This team helps clients find solutions for their developmentfinancing and risk management needs leveraging IBRD and IDA's financialproducts and TRE's financial expertise and market access. It providessupport for IBRD and IDA operations and clients on the full menu of financialand risk management products, pricing and loan customization, blending andco-financing, IDA to IBRD transition, and thematic bond issuance strategies andreporting, among other areas.

Note: Ifthe selected candidate is a current World Bank Group Staff Member with aRegular or Open-Ended appointment, s/he will retain his/her Regular orOpen-Ended appointment. If the selected candidate is a current World Bank GroupStaff Member with a Term appointment that expires later than the end date ofthis appointment, s/he will retain the duration of his/her current Termappointment.

Responsibilities
The Financial Officer will be a member of CMI's Asset Liability Management and Policy Team (CMIAP) with roles and responsibilities outlined below.
• Executing currency swaps, interest rate swaps, and other derivatives transactions for IBRD and IDA risk management and funding activities;
• Maintain partnerships with investment banks; underwriters and derivative counterparties to promote the franchise of the IBRD and IDA as a participant in the capital markets;
• Provide quantitative expertise and support to IBRD and IDA ALM activities. Including application of mathematical and statistical techniques to address financial instrument valuation, risk management, and rating agency criteria.
• Work in other departments to effectively and efficiently provide financial solutions to IBRD and IDA borrowers;
• Assist in developing policy and technical papers related to policies on IBRD and IDA ALM, Funding and Liquidity Risk;
• Provide cross-support for other groups and projects within CMD and TRE;
• Support reporting responsibilities;
• Other duties as assigned.

Selection Criteria

The successful candidate should have the following qualifications:

• Master's degree in finance, mathematics and/or economics with at least 2 or more years of relevant work experience.
• Hands on quantitative experience (e.g. risk management, trading, ALM , etc.) in a financial environment.
• Knowledge of finance theory, derivatives instruments, pricing models, hedging and risk management techniques.
• Excellent writing and communications skills. Ability to present complex products or analyses in a concise and clear manner.
• 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, government authorities, etc.
• Ability to multitask and move projects forward while maintaining high quality output.
• Ability to work across units and resolve conflicts smoothly.
• Knowledge of IDA/IBRD activities and financial products and policies is desirable.
• Proficiency in English (another language is desirable).
• Willingness to travel
• Highest ethical standards.

Competencies

• Technical expertise: Broad and deep understanding of financial markets and financial instruments.
• Communication: Able to communicate in a constructive, concise, and professional manner. Able to contribute to unit's knowledge sharing.
• Innovation: Applies critical thinking to current approaches, identifies areas for improvement, and tries new solutions that drive results. Considers own behavior in context of WBG's values and mission and recognizes impact one has on others. Operates in ambiguity and changing needs and supports others to do the same.
• Sound judgment: Able to access situation and make sound judgment on action needed.
• Teamwork: - Keeps others fully informed to ensure integration and work consistency and displays a sense of mutuality and respect. Approaches conflicts as common problems to be solved. Seeks and listens to input from others to inform own decision making and openly shares information. Frames thinking/actions with a WBG corporate perspective in mind.
• Drive for Results: Sets challenging goals that align with the WBG mission and is always looking to improve. Understands clients' most pressing challenges and contributes to solutions. Takes personal responsibility for producing high quality work, identifying and informing of risks, and delivering results for clients.

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 the World Bank and IFC, including our values and inspiring stories.

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