Job Family
Treasury
Sector
Treasury
Term Duration
3 years 0 months
Recruitment Type
International Recruitment
Required Language(s)
English
The World Bank
The World Bank is one of the world’s largest sources of funding and knowledge for developing countries and 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. There are five World Bank Group institutions, each of which specializes in different 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).
The World Bank’s Twin Goals
The World Bank has twin goals of ending extreme poverty and promoting shared prosperity. Its capacity to fulfill these goals is underpinned by a Treasury Vice Presidency (“Treasury”) that is widely recognized across the global capital markets for its dynamic professionalism and its record of innovation in obtaining outperformance for its clients in all the Treasury’s functions.
The World Bank Treasury
Treasury is the Vice Presidency performing treasury functions for IBRD and for other members of the World Bank Group. Its activities are organized and grouped along three departments: (1) capital markets, investments & financial products, (2) asset management and advisory, and (3) treasury operations. Treasury has been a large and significant player in the international financial markets for more than 70 years and has achieved a global reputation as a prudent and innovative borrower, investor, and risk manager. Treasury is responsible for: (i) managing more than $185 billion in assets for the World Bank and other official-sector investors; (ii) leading the World Bank’s financing program in international and domestic bond and derivatives markets; (iii) conducting asset and liability management for IBRD and IDA’s balance sheets; (iv) overseeing the development and outreach related to the financing and hedging products that IBRD and IDA provide for their developing-country clients; and (v) collaborating with official sector institutions of member countries to help build their capacity in asset and public debt management.
Within Treasury, the Capital Markets, Investments & Financial Products department (CMI) is responsible for managing annual funding programs for IBRD (approx. $55-65 billion) and IDA (approx. $10-15 billion) and building sustainable capital markets, managing liquid asset portfolios for IBRD and IDA (approx. $115-125 Billion), and the asset and liability management aimed at reducing risk on IBRD and IDA’s balance sheets. CMI also advises clients on loans and risk management products, and structures financial products for development. CMI places a strong emphasis on achieving the best possible financial terms within prudent market, liquidity, credit, operational, and reputational risk parameters. CMI is comprised of six teams carrying out these responsibilities. The working environment is fast-paced and dynamic, as the teams regularly deal with new ideas, projects, and challenges.
CMIIL - Investment management and Liquidity operations: This team manages funds raised for lending activities of IBRD and IDA, by investing the funds in high-grade assets. The main objectives are principal protection and ensuring sufficient cash flow to meet IBRD’s and IDA’s financial commitments. The team also seeks a reasonable return to contribute to net income
CMIIS - Investor Relations and Sustainable Finance: This team works to cultivate, maintain and strengthen investor, rating agency and financial media relationships for IBRD, IDA and IFFIm to help achieve 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 to the 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 - ALM and Policy: This team is responsible for analytics, monitoring, and policy formulations for activities that impact IBRD and IDA’s balance sheets. The team participates in formulation of policy, guideline, and processes that impact the financial risk and income of IBRD and IDA and works closely with the relevant teams, sets limits and monitors the pre-defined and agreed funding and investment activities. The team also oversees implementation and execution of capital markets activities to support IBRD and IDA’s balance sheet management and provides liquidity calculation and reporting and analysis for rating agencies.
CMIMS - Market Solutions and Structured Finance: This team designs and executes market-based risk management and structured transactions for external and internal clients and provides structuring expertise and advisory services to address development challenges.
CMIFP - Financial Products and Clients Solutions: This team helps clients find solutions for their development financing and risk management needs leveraging IBRD and IDA’s financial products and TRE’s financial expertise and market access. It provides support for IBRD and IDA operations and clients on the full menu of financial and risk management products, pricing and loan customization, blending and co-financing, IDA to IBRD transition, and thematic bond issuance strategies and reporting, among other areas.
CMIDO - Debt Origination: Capital Markets & Investments Debt Origination team (CMIDO) is responsible for managing the World Bank’s (IBRD & IDA) combined annual funding program of approximately USDeq. 60-70 billion in global bond markets. The team manages the World Bank’s benchmark funding program in global currencies as well as emerging market currency funding and helps position and differentiate the World Bank as the premier issuer in the capital market through flawless execution of bonds in many markets around the world.
CMIDO is responsible for building and maintaining relationships with new and existing investors and working with a large global network of financial counterparties. Along with IBRD, the team also carries out the growing issuance program of the International Development Association (IDA) as well as the International Finance Facility for Immunization (IFFIm) all with a strong emphasis on achieving the best possible financial terms for IBRD, IDA, and IFFIm within prudent market, liquidity, credit, operational and reputational risk parameters.
The position will require working and coordinating with teams within the department that manage ALM & Policy, Liquid Investments, Investor Relations & Sustainable Finance, Client & Operation and Client Financial Products. The working environment is fast-paced and dynamic, as the teams regularly deal with transactions, new ideas, projects and challenges.
CMIDO is recruiting a dynamic individual to serve as Financial Officer and contribute to the team’s key functions in the areas of funding in an expanding environment. This position offers a unique opportunity to apply knowledge about the financial operations of IBRD and IDA and contribute to the role the World Bank Treasury plays in mobilizing funding for IBRD and IDA through the capital markets, while communicating an important sustainable development mandate.
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3-year term appointment.
Duties and Responsibilities:
The Senior Financial Officer will be a member of CMIDO Team with roles and responsibilities outlined below:
• Preparing and executing funding transactions for IBRD and IDA including evaluating, structuring and negotiating the transaction terms, and executing of derivatives transactions related to funding activities
• Executing IBRD’s short term Discount Notes program, and IDA’s short term Bill program
• Leading and contributing to the design and execution of IBRD and IDA capital market strategies.
• Helping to establish IDA presence in strategic segments of the global markets through the development of creative and targeted funding products - across markets and currencies.
• Identifying opportunities in the international bond markets that would help sustain and improve the value that IBRD and IDA obtains as an issuer and for its borrowers.
• Cultivating and maintaining partnership with World Bank Treasury’s global network of financial intermediaries/counterparts.
• Collaborating with the Investor Relations team in investor outreach program - participating in investor meetings, presentations, road shows, conferences, etc.
• Collaborating in World Bank Treasury initiative including reporting, risk management and technology enhancement projects.
• Providing technical expertise on bond markets to World Bank’s clients and other business units.
• Any other duties as assigned.
Selection Criteria
• Master’s degree or equivalent in a discipline relevant to finance and 15+ years relevant hands-on experience in capital markets funding and financial derivatives.
• The ability to execute financial market transactions under stress or with imperfect information.
• Thorough understanding of the triple-A bond capital markets and the various perspectives of all its supply, intermediary and buy sides participants.
• Excellent verbal communications skills in English.
• Experience in creating concise, effective and convincing written material in both prose and slide presentation formats.
• Experience in public speaking/presentations with an ability to present complex products or analysis in a clear and concise manner.
• Thorough experience in investor education of the triple-A MDB issuing sector and the in-depth knowledge of the unique nature of MDB credit.
• Good judgment with the ability to negotiate effectively and influence others without formal authority.
• Original thinker, quick learner, team player with excellent interpersonal skills, initiative and drive with the ability to interact successfully with all levels within the World Bank as well as with external market counterparts, investors, government authorities, etc.
• The ability to adapt to changing demands and circumstances.
• Good organizational skills and proven ability to multi-task and work quickly under pressure, often under tight and rapidly changing deadlines.
• Ability to work in a team with others of diverse ranks and professional and cultural backgrounds.
• Willingness to travel.
• Observes the highest working ethical standards.
Core Competencies:
• Lead and Innovate - Develops innovative solutions.
• Deliver Results for Clients - Proactively addresses client stated as well as their unstated needs.
• Collaborates well within teams and across boundaries - gives own perspective and willingly considers diverse perspectives.
• Create, apply and Share Knowledge - Applies knowledge across WBG to strengthen solutions for internal and/or external clients.
• Make Smart Decisions - Interprets a wide range of information and pushes to move forward.
