Junior Professional Associate – Risk

Do you want to build a career that is truly worthwhile? 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, please visit www.worldbank.org

Junior Professional Associates – Program Description

The Junior Professionals Associate Program (JPA) offers an exceptional opportunity for recent graduates to embark on a professional journey, providing a three-year contract with valuable work experience within a diverse and dynamic environment and the potential of field work experience. The program is an excellent platform to sharpen your existing skills and to develop new ones, all while gaining a profound understanding of the challenges associated with reducing poverty and fostering shared prosperity on a livable planet.

We will provide you with the opportunity to gain entry-level professional experience in a premier development institution, on an Extended Term Consultant (ETC) contract with benefits. For more information, please visit www.worldbank.org/careers/jpa

The following are minimum requirements to be eligible for the JPA program:

– Be 32 years of age or younger

– Hold a bachelor’s degree

– Be fluent in English

The JPA program at the World Bank is a highly competitive initiative. Candidates who are being actively considered for positions may be required to present academic transcripts and professional references. The World Bank’s Human Resources team and hiring team will reach out exclusively to individuals selected for assessment and interviews.

Positions may be in any of the World Bank’s offices worldwide.

Specific Unit Description – Market and Counterparty Risk Directorate (CROMC)

The Chief Risk Officer (CRO) Vice Presidency of the World Bank is the core unit responsible for institutional risk oversight, including establishment and monitoring adherence to risk policies and guidelines and risk assessment and reporting to the Board and executive management. Its mission is to enable and support the institution to achieve its goals in a financially sustainable manner. The VPU assists management with identifying and managing group-wide cross-cutting risks, enhancing risk response decisions, reducing financial and operational surprises and losses, seizing opportunities and improving deployment of capital. The CRO Vice Presidency comprises three Departments: 1) Credit Risk (CROCR); 2) Market & Counterparty Risk (CROMC), and 3) Operational Risk (CROOR).

The Market & Counterparty Risk Directorate (CROMC) focuses on oversight of risk in four areas: 1) Market Risk, which covers ALM, interest rate, spread (funding and investments) and FX risk 2) Liquidity Risk, which covers the availability/cost of or access to ready liquidity and long-term funding; 3) Commercial (i.e. not sovereign lending) Credit Risk, which includes risks to IBRD resulting from changes in creditworthiness of IBRD’s commercial counterparties; and 4) Model Risk, which covers financial risk models in IBRD in terms of model governance.

The Market & Counterparty Risk Directorate (CROMC) is now looking to recruit a number of Junior Professional Associates to focus on risk measurement, assessment and reporting for key risk areas such as balance sheet risks, equity management, and liquidity and FX risks.

Duties and Responsibilities

Responsibilities include:

• Collect, evaluate/validate, and analyze institutional data (including positions and risk metrics) and market data used for risk oversight, in-depth quantitative analysis and reporting

• Generate and rigorously assess regular reports of key risk metrics such as economic capital, VaR, derivative/swap counterparty exposure and stress tests to support CROMC’s daily/monthly/quarterly oversight responsibilities in areas such as liquidity and counterparty exposure.

• Support the production of executive- and Board-level market risk reports, creating graphs and updating portions of text, and in-depth quantitative analyzing/explaining changes in metrics over time

• Support special projects and ad hoc needs using advanced analytical techniques in the areas of market and institutional risk analysis, analysis of business scenarios using state-of-the-art statistical tools, development of risk new metrics and evaluation of proposed business opportunities and business transactions, including via deployment of latest FinTech tools/techniques

Selection Criteria

• Degree in Financial Engineering or Mathematics, or equivalent.

• Minimum 1-3 years work experience in complex analytical projects in the area of Finance

• Basic knowledge of fixed income products and markets. Experience with financial derivatives is a plus.

• Direct experience in building complex analytical models. Working knowledge of models in the financial market realm is a plus.

• Demonstrate strong ability in programming languages/tools used for analytics and reporting

• Extensive knowledge of state-of-the-art statistical tools and software.

• Knowledge of Bloomberg and of downloading Bloomberg data for building market monitoring spreadsheets

• FRM, CFA are a plus

• Excellent written and verbal communication skills, with an ability to relay complex data and information in a concise, clear manner

• Strong organizational skills and attention to detail

• Ability to work pro-actively in a small team-driven environment

Diversity and Inclusion

The World Bank continually searches for qualified individuals with a diverse set of backgrounds from around the globe. 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, color, ethnicity, sexual orientation, or disability. Individuals with different abilities may be provided reasonable accommodations to perform essential functions and support in receiving other workplace accommodations.

Poverty has no borders, neither does excellence. We succeed because of our differences and we continuously search for qualified individuals with diverse backgrounds from around the globe.