Financial Officer

4 weeks ago

Wenatchee, United States World Bank Group Full time
Financial Officer

Job #:
req28819

Organization:
World Bank

Sector:
Financial Management

Grade:

GF
Term Duration:

4 years 0 months

Recruitment Type:
International Recruitment

Location:
Washington, DC,United States

Required Language(s):

English

Preferred Language(s):

Closing Date:

8/19/2024 (MM/DD/YYYY) at 11:59pm UTC

Description


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

Background /General Description:
The Development Finance Vice-Presidency (DFi) manages and monitors policies,procedures, and resources for the World Bank's development financing vehicles.

DFi sets the policy framework for the World Bank Group's development finance byengaging in strategic resource mobilization, playing an intermediation role tohelp align the needs of recipients, WBG institutional priorities, andpriorities of funding partners through various funding instruments.

Theseinclude the International Development Association (IDA), the World Bank's fundfor the poorest, the International Bank for Reconstruction and Development(IBRD), Trust Funds (TFs), and Financial Intermediary Funds (FIFs).


Given the nature and variety of this portfolio, DFi works closely with thePresident's office, Executive Directors, WBG senior management, corporate andoperations units across the WBG, funding partners, and government officials.

Assuch, DFi is structured to provide the institution with a more holisticapproach to financing, financial policy, and strategic fundraising across IDA,IBRD, TFs, FIFs, and partnerships.


Within DFi, Development Finance Trust Funds and Partner Relations (DFTPR)Department is at the forefront of the Bank's engagement in Trust Funds, FIFsand Partnerships.

The Department is responsible for managing and administeringthe Bank's US$56 billion portfolio of Trust Funds and FIFs, designing andestablishing new, multi-donor partnership initiatives underpinned by TrustFunds and FIFs, and setting the policy and procedural framework for TrustFunds, FIFs and Partnerships in a manner they complement IDA and IBRD.


Located within DFTPR, the Financial Intermediary Funds, Digital Solutions andAnalytics (FIFDA) is responsible for providing policy advice, management ofdonor relations, portfolio monitoring, and financial and investment managementfor 27 FIFs, delivering value-added analytics for WBG TFs, FIFs, Co-financing, Aid architecture,etc.

throughcutting-edge technology and digital solutions.


FIFDA seeks a proactive andhighly motivated Financial Officer (Level GF) with strong financial skills tosupport the implementation of its mandate.

The Financial Officer reports to theManager and functionally reports to the Cluster Lead of Financial Management onthe day-to-day activities.

Duties and Accountabilities

The Financial Officer is a key member ofthe FIFDA team who works under the guidance of the Cluster Lead of FinancialManagement with a focus on:

Financial engineering and structuring of FIFs:

  • Contribute to financial structuring for establishment of FIFs.
  • Write papers and provide inputs, including financial structures, funding scenarios, etc.
to support the replenishment negotiations for FIFs.

  • Building and maintaining cash flow financial models (IFFIm, CTF), perform due diligence, conduct compliance reviews, and prepare appropriate documentation.
  • Actively monitor and analyze financial models and propose solutions to resolve issues in a timely and effective manner.
  • Contribute to analysis and presentation of financial structures for trusteeship of FIFs to FIF governing bodies.
Foreign exchange (FX) management for FIFs:

  • Contribute and support the implementation of the FX hedging for FIFs.
  • Prepare papers and briefs on hedging currency risk for FIFs, including research on hedging practices implemented by other multilateral funds and entities.
  • Contribute to develop framework for currency exposure management and policies on risk management, donor receivables, basis of commitment, collateral management for hedging for FIFs.
  • Actively monitor currency volatility in FIF portfolio and collaborate with World Bank Treasury and the office of Chief Risk Officer to identify and propose measures to address and limit the exposure.

Investment management and reporting:

  • Contribute to presentations of appropriate investment strategies in partnership with World Bank Treasury to development partners and management.
  • Contribute to updating the strategy of Sustainable Responsible Investing, including reviewing options and preparing analysis on Environment, Social and Governance (ESG) investments for FIFs.
  • Conduct the annual eligibility review for TFs and FIFs to identify funds for investment in model portfolios such as MP2, MP4 and MP8.
  • Prepare investment brochure on TFs and FIFs in collaboration with WB Treasury.
  • Prepare high quality briefings and communications to WB Management and external stakeholders on investment management.
  • Coordinate the compilation and analysis of cashflow forecasts and rebalancing of investments across investment model portfolios.
  • Prepare investment reporting for asset mix and investment performance, and communication on investment options for TFs and FIFs to TTLs, internal and external clients, as needed.

Financial and Risk management:

  • Within the Bank's financial and risk framework, take initiative to improve processes and approaches, demonstrating adaptability to changing priorities and innovative technical leadership.
  • Contribute to the preparation of Trustee reports for FIFs with a focus on investment management, financial structures, FX management, etc.
  • Write business requirements to design new digital tools to support the above mentioned activities, and other special projects/initiatives assignment by Manager of FIFDA, e.
g., system development, business process improvement, automation initiatives, etc.

  • Contribute to cross
  • DFI and Bank wide initiatives, including participating in discussions about FIFDA's trusteeship of FIFs.
  • Keep abreast of institutional policies and procedures affecting partnerships, trust funds, and FIFs.
  • Other tasks as assigned by the Manager of FIFDA
Thisinternal requisition is open to WBG and IMF staff only (including short-termand extended term consultants/ temporaries). External candidates are requestednot to apply. In case an external candidate applies, their application will notbe considered.

Selection Criteria

DFTPR is seekingapplicants with the following experience and background:

*Master's degree(s) in Business, Finance, and/or Economics with eight years of relevant experience in the field of finance and investments. Professional qualification such as a Chartered Financial Analyst (CFA) is a plus.

*Demonstrated financial market literacy with understanding of the financial markets, holdings, and performance of investment model portfolios for Financial Intermediary Funds (FIFs) and trust funds, risk reports, and sustainable responsible investments.

*Proven skills in financial engineering, structuring, modelling, and reporting. Demonstrated ability to build financial structures, models, and analysis with appropriate documentation.

*Good knowledge of financial structures of financial intermediary funds and trust funds with the understanding to apply relevant policies and procedures.

*Strong analytical skills and problem-solving skills. Demonstrated ability to diagnose issues and causes, articulate strategy and policy recommendations for resolution, and identify implementation steps.

*Ability to identify and assess risks including proposing mitigating controls to maintain an effective and efficient internal control environment.

*Excellent written and verbal communication skills with demonstrated ability to think strategically and synthesize complex issues for engagement with clients on investments, financial structures, financial analytics, etc. This includes working on complex funds, including exposure to sustainable responsible investing principles and approaches.

*Strong skills in Tableau, Power BI, and MS Excel, including Pivot Tables, VLOOKUP's, macros, and other data and financial-related Excel functions. Good knowledge of the latest digital tools and platforms, preferably with prior experience in issues related to digital tools.

*Proven capacity to multi-task and manage complex assignments, deliver results, and respond quickly and effectively. Ability to meet tight deadlines.

*Demonstrated self-starter and takes initiative. Ability to interact sensitively in multi-cultural environments and work effectively as a team member with a wide range of stakeholders within and outside the bank, with a strong client orientation.

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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