Individual Consultant: Senior Financial Assistant

Job Description

Job #: req33897

Organization: World Bank

Sector: Treasury

Grade: GD

Term Duration: 1 year 0 months

Recruitment Type: Local Recruitment

Location: Sofia, Bulgaria

Required Language(s): English

Preferred Language(s): Proficiency in a second language is a plus.

Closing Date: 8/19/2025 (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 Group is committed to achieving diversity in terms of race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply. ***

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. The World Bank uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth and improve the 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 Group (“WBG”) institutions, each of which specialize in different aspects of development: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA) (IBRD and IDA together also referred to as the “World Bank” or the “Bank”), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), the International Centre for Settlement of Investment Disputes (ICSID).

Treasury (TRE) is the Vice Presidency, reporting to the Managing Director and World Bank Group Chief Financial Officer, performing treasury functions for the IBRD and IDA and, to varying degrees, for other members of the World Bank Group and other public sector investors. Its activities are organized and grouped into the following departments: Capital Markets & Investment Management, Client Asset Management and Advisory, and Treasury Operations.

Treasury has been a large and significant player in the international financial markets for over 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 $240 billion in assets for the World Bank and other official sector investors; (ii) leading IBRD’s and IDA’s triple-A rated financing programs in international and domestic bond and derivative markets; (iii) conducting asset and liability management for IBRD’s and IDA’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 interact and collaborate with other Departments across the Bank and Finance Partners teams.

Treasury Operations is the Department (TREOP) which provides a full range of middle and back-office support for Treasury’s asset management, capital markets and banking functions. The Department is organized in three operational units: Asset and Liability Operations (TREAL), Banking Operations (TREBK), and Quantitative Solutions and Analytics (TREQA), supported by a TRE Technology Coordination function (TREFT).

Treasury Asset and Liability Operations (TREAL) is the unit responsible for delivering on a range of operation functions supporting the funding, investment, and asset and liability management portfolios for internal World Bank Group (IBRD, IDA, MIGA, and Trust Funds) entities. In addition, the team supports investment portfolios for a growing roster of more than 60 client entities in domestic and international markets. The team provides integrated and end-to-end support for all trade execution and portfolio servicing activities including trade review, settlement and documentation, options monitoring, debt service and cash and collateral management across the full range of products including bonds, swaps, repos, deposits, and exchange-traded derivatives.

In performing these functions, the team works closely with internal partners and market counterparts as well as external service providers such as technology vendors, custodians, and paying agents. In addition to managing the day-to-day operations, TREAL staff lead the research, coordination, and implementation of new products and markets across Treasury. The team has a heavy focus on, and takes a leadership role in, evaluating and deploying the latest products and technologies (core trading platforms and new initiatives and technologies like CBDC, blockchain, AI, robotics, etc.) to create efficiencies, reduce risk, and advance thought leadership amongst WB’s peers and clients. TREAL staff participate in capacity-building programs for clients in these areas of expertise. TREAL staff recently co-led projects where the World Bank issued innovative digital bonds using blockchain technology and CBDC. In recognition of their efforts to advance capital markets and asset management, the TREAL team received several industry awards including for “Innovation in Reserves Management” (2021) and “Asset Servicing Initiative of the year” (2023 and 2025). The team has twice been shortlisted for “Operations Team of the Year” award (2023 and 2024).

TREAL staff members work in the Bank’s Washington DC headquarters, and in the Global Business Centers located in Chennai, India and Sofia, Bulgaria.

Duties and Accountabilities:

The primary responsibilities will include, but are not limited to, some combination of the following activities:

• Perform various facets of post-execution activities for fixed income securities (fixed and floating rate bonds, MBS, ABS), derivatives (futures, options, swaps), and cash products (repo, Money-market, FX).
• Work closely with traders and colleagues in Accounting, Banking, Credit, Development Finance, Legal, Technology, and Valuation units internally, as well as with Counterparties, Custodians, Futures Commission Merchants, and Calculation, Collateral and Fiscal Agents externally.
• Ensure the settlements of fixed income and derivatives portfolios of over 6,500 transactions and resolving rate discrepancies and cash disputes with 70+ counterparties and other Bank clients.
• Perform various daily and monthly Collateral Management tasks and work as an integral part of the team in monitoring and managing the institution’s credit exposure to over 70+ active global counterparties.
• Assist in the development and implementation of, and compliance with, changes to TREAL procedures, processes, and standards.
• Develop training and skill enhancement initiatives (e.g., through presentations, seminars, and workshops) to transfer global knowledge and experience for various client advisory projects.
  

As determined by management depending on the business needs:

• The work program is subject to change at any time and the candidate may be reassigned to another team.
• Flexibility to overlap with EST hours will be required to meet various production, reporting, and project deadlines.
  

The position requires candidates to work on-site from the local office in Sofia.

Staff are expected to work from the office at least four days a week.

Selection Criteria

• Degree in Data Analytics, Computer Science, Information Systems, OR in Finance, Economics, Accounting, or related business discipline. Professional certifications such as a CFA will be a plus.
  
• Preferably 1 or 2 years of professional experience.
  
• Strong quantitative and qualitative analytical skills, and familiarity with Python and business-related IT development or IT technology projects. Previous exposure to FinTech related knowledge is a plus.
  
• Knowledge of Swift, Bloomberg and Microsoft tools and applications like Power Query, Power BI, Power Apps, will be a plus.
  
• Proven capacity to multi-task, deliver results and respond quickly and effectively to requests. Ability to handle multiple concurrent transactions on a tight timetable, consistent with a high level of client expectations.
  
• Original thinking / quick learning abilities with strong initiative and drive, as well as attention to details.
  
• Good team player with strong interpersonal skills, and commitment to work in a respectful, team-oriented, and multi-cultural environment.
  
• Ability to interact tactfully with clients and/or business associates across all levels, while exercising sound judgement in handling confidential information.
  

Competencies:

• Financial Market Literacy - Can understand financial market processes; reads and analyzes financial reports and data such as positions, valuations, reconciliations, settlements, and compliance reports.
• Client Services - Contributes successfully to both on-site and virtual missions or workshops for Treasury clients.
• Process and Infrastructure Development - Makes recommendations to improve efficiency of the business risk or operations processes.
• Operational Risk and Control - Understands the basic concepts of risk management and internal control frameworks.
• Treasury Operations - Adept or expert in processing a suite of transactions such as bonds, FX, or structured transactions, or managing country or transactional bank accounts and reference data.
• Client Orientation - Takes personal responsibility and accountability for timely response to client queries, requests or needs, working to remove obstacles that may impede execution or overall success.
• Drive for Results - Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results and has the personal organizational skills to do so.
• Teamwork (Collaboration) and Inclusion - Collaborates with other team members and contributes productively to the team’s work and output, demonstrating respect for different points of view.
• Knowledge, Learning and Communication - Actively seeks knowledge needed to complete assignments and shares knowledge with others, communicating and presenting information in a clear and organized manner.
• Business Judgment and Analytical Decision Making - Analyzes facts and data to support sound, logical decisions regarding own and others’ work.

Closing Date: 8/19/2025 (MM/DD/YYYY) at 11:59pm UTC

About the Organization

The World Bank, a member of the World Bank Group, is a vital source of financial and technical assistance to developing countries around the world. Our mission is to fight poverty with passion and professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors.

We are not a bank in the common sense; we are made up of two unique development institutions owned by 188 member countries: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

Each institution plays a different but collaborative role in advancing the vision of inclusive and sustainable globalization. The IBRD aims to reduce poverty in middle-income and creditworthy poorer countries, while IDA focuses on the world's poorest countries.

Their work is complemented by that of the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and the International Centre for the Settlement of Investment Disputes (ICSID).

Together, we provide low-interest loans, interest-free credits and grants to developing countries for a wide array of purposes that include investments in education, health, public administration, infrastructure, financial and private sector development, agriculture and environmental and natural resource management.