Financial Officer - GF
World Bank Group
Description
Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. 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, increasing shared prosperity and promoting sustainable development.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
Background
The Corporate IDA and IBRD Department is part of the Development Finance Vice-Presidency (DFi).
The Development Finance Vice-Presidency (DFi) is responsible for the management and monitoring of policies, procedures and resources for development financing in the World Bank. Development financing consists of all the aspects of corporate finance of the IBRD, resource mobilization and management of the world's largest concessional fund, IDA, and the financial management of grant contributions from development partners for Trust Funds (TFs), and Financial Intermediary Funds (FIFs).
DFi is also leading the dialogue on financing for development. Given the nature and variety of this portfolio, DFi works closely with the President's office, Executive Directors, WBG senior management, corporate and operations units across the WBG, funding partners and government officials.The VPU has two departments – Corporate IDA and IBRD (DFCII) and Trust Funds and Partner Relations (DFTPR).
Corporate IDA and IBRD (DFCII) is responsible for the replenishment and stewardship of IDA, the Bank's principal facility for providing highly concessional resources to the world's poorest countries, as well as for supporting senior managers and the WBG Board in IBRD's financial management by recommending policies and strategies related to IBRD medium-term financial and capital planning, overall balance sheet management, and annual decisions on loan terms and income allocation.
The Corporate IDA and IBRD Department consists of two units, the IBRD-IDA Corporate Finance team and the IDA Strategy and Operations team. This position will work in the IBRD-IDA Corporate Finance team.
Duties and Responsibilities
The IBRD-IDA Corporate Finance team (IICF) is responsible for monitoring IBRD and IDA's near-term and medium-term financial outlook, and setting financial strategies and policies to ensure IBRD and IDA's financial strength and long term financial sustainability.
These policies include those related to loan pricing and repayment terms, capital management, income allocation, and balance sheet management, as well as implementation of IDA's relatively new hybrid financial model since it recently started issuing bonds in capital markets as a AAA rated issuer.
In addition, the team maintains long-term financial projection models for IBRD and IDA and monitors the institutions' long-term financial capacity and overall financial soundness; identifying income and balance sheet variables and their vulnerabilities; assessing the income and capital impact of any strategic decisions or new programs/initiatives; monitoring the adequacy of income and capital to support lending and other development activities, including under key risk scenarios; and developing strategies for optimal use of capital as well as to address potential shortfalls in capital and income.
The unit also manages the financial aspects of IDA replenishment in close collaboration with IDA Strategy and Operations Unit, including preparing financing strategy documents for the replenishment discussion and interfacing with donors on contributions.
The unit, jointly with other relevant counterparts, undertake strategic initiatives to advance corporate agenda, including Global Public Goods, concessionally and preferencing, climate financing, aid architecture, local currency financing, private capital mobilization, and other highly strategic initiatives as may come time to time.On donor related matters, the unit manages IDA's capital subscription and voting rights, in addition to others.
In support of these areas of responsibility, the unit is required to establish and maintain robust analytical infrastructure in the form of models, data, systems and expertise to ensure robust support to IDA replenishment and IBRD/IDA income and balance sheet projections and scenarios to support institutional policy-formulation and the Board's decision-making process.
Key Accountabilities:
The chosen candidate will have responsibilities for specific individual tasks and for working as an integral part of the team in executing DFCII's work program. The primary responsibilities will focus on tasks related to Data and Analytics cluster, while the candidate is expected to cross-support other clusters in areas of modeling and data analytics, that include:
- • Independently develop and/or review financial models/solutions required for policy analysis and balance sheet management.
- Develop succinct materials to communicate complex concepts and ideas in an easy-to-understand manner, and ability to adapt materials to different audiences.
- Propose and implement process improvements to enhance efficiencies. Contribute to system automations and streamlining for large datasets.
- Maintain, update and enhance financial projection models and adapt the model to evolving bank products and policies, identify short term and long term drivers of variability in IBRD and IDA's income and capital adequacy ratios.
- Collaborate and work closely with other DFI and Finance colleagues (TRE, CRO, WFA, BPS) to provide input or feedback on key topics related to Corporate Finance.
- Contribute and provide analytical support to the ALM policy and risk management discussion for IBRD and IDA.
Other tasks required to deliver unit objectives
Selection Criteria- Advanced degree in Finance, Economics, Math, Business, or other quantitative fields.
- At least 5 years of relevant experience in Finance Industry, ideally including quantitative analysis, risk management, data management, and system implementations
- Ability to think strategically, creatively and practically. Strong problem-solving skills
- Deep understanding of corporate finance and balance sheet management theories and techniques. Knowledge and prior experience with MDB financial policies and products is desirable.
- Proficiency in MS Excel, plus working experience with one or more of the programming languages such as Python, Matlab, VBA, SQL, R, is desirable.
- Highly organized, attention to detail, and ability to carry out financial analysis in a systematic and structured manner.
- Strong interpersonal skills and ability to work across boundaries to resolve differences and build consensus. Proven ability to work as part of a team
- Capacity to work under tight deadlines and pressure.
WBG Core Competencies
Lead and Innovate
Encourages and works with others to identify, incubate and implement relevant solutions. Identifies opportunities in changing circumstances and energizes others to continuously improve, using intentional strategies to boost morale, team spirit, and productivity in context of WBG's values and mission.Helps others to understand problems, client needs and the underlying context.
Deliver Results for Clients
Develops and implements solutions that show understanding of how clients and/or own work achieves results that are financially, environmentally and socially sustainable. Shares new insights based on in-depth understanding of the client and recommends solutions for current and future needs of clients.Holds self and team accountable for risk management and outcomes.
Collaboration within Teams and Across Boundaries
Collaborates across organizational boundaries, internally and externally with a sense of mutuality and respect. Consistently engages others in open dialogue, brings out any conflicting viewpoints and incorporates viewpoints into solutions, giving credit where credit is due.Leverages expertise of all team members to ensure successful outcomes. Makes choices and sets priorities with a WBG corporate perspective in mind.
Create, Apply and Share Knowledge
Ensures systematic sharing of good practice and learning from lessons from across WBG, clients, and partners. Is known across WBG in their subject area and is sought out by WBG colleagues to advise, peer review, or contribute to knowledge products of others.Seeks mentoring opportunities with more experienced staff to deepen or strengthen their professional knowledge and mentors junior staff. Builds networks across the WBG and as part of external professional groups/networks.
Make Smart Decisions
Applies critical thinking and seeks inputs and experience from others to recommend a course of action consistent with the WBG's strategy. Evaluates risk and anticipates the short and long term implications of decisions. Commits to a decision and takes action once a decision has been reached.
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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Sector: Nonprofit/Community/Social Services/International CooperationRole: Other
Working hours (%): 80-100% / 100%
Job type: Staff (Permanent and Fixed Term)