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Extended Term Consultant

World Bank Group

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Job Description

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Description

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Treasury 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 and Investment Management, Client Asset Management and Advisory, Treasury Operations, and Pension and Endowments. The Treasury VPU also includes the Risk, Compliance, and Controls Unit.

The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group’s funded benefit plans, including the retirement scheme – the Staff Retirement Plan and Trust, the retiree medical and life insurance programs – the Retired Staff Benefits Plan and Trust, and other ancillary benefits (together referred to as “the Plans”). PEN’s Pension Investments team (PENIN) is responsible for the financial management of the Plans, including investment strategy formulation and asset management responsibilities. PENIN manages about US$38 billion invested across various asset classes, including fixed income, listed equities, private equity, real assets, private credit, and absolute return strategies. PENIN identifies, selects, evaluates, and monitors investments globally, primarily through outside managers.

Staff in PENIN are allocated to a particular team upon entry. They may be reassigned to other PENIN teams at the discretion of the Manager of PENIN in response to business priorities. This ET Consultant (ETC) position is intended for PENIN’s Investments Capabilities function.

The responsibilities of PENIN’s Investment Capabilities team include:

Investments Administration:

  • Coordinating and monitoring investment and legal investment pipelines (in close collaboration with LEGFI).
  • Timely completion/execution of legal documents in liaison with LEGFI 
  • Providing logistical support for investment due diligence and documentation for new investments.
  • Coordinating the execution, transmission and archival of all legal documentation.
  • Managing communication with asset managers, including meetings, due diligence sessions, and other outreach activities.
  • Coordinating and providing logistical support to the asset class teams, as needed.
Implementation of IT solutions: Collaborate with ITS, PENMO, and all PENIN teams to select and implement integrated end-to-end technology solutions that streamline investment processes for investment functions. The key functional building blocks of the technology solutions include:
  • Ensuring data aggregation and recording from external managers and processing transactions.
  • Managing relationships with external managers and processing transactions.
  • Monitoring investment portfolios and producing performance metrics.
Roles & Responsibility:
 
The ET Consultant will be responsible for specific tasks related to implementation of legal documentation for all asset classes or strategies, which will include a combination of, but not limited to, the following:
 
  • Assist in the preparation (completion and processing) of investment fund legal documents such as Subscription Documents and execution of transaction documents negotiated by LEGFI, such as Side Letters, and Limited Partner Agreements, among others. 
  • Coordinate the legal documentation sign-off with the PEN Director and/or authorized signatories. 
  • Coordinate PEN aspects of legal investment pipeline to ensure all requests of PEN are timely and accurately reflected, update the pipeline with any changes and to liaise with LEGFI to enable allocation of legal coverage and ensure legal documents are prepared and ready before datelines.  
  • Act as liaison with LEGFI for relevant legal documentation and inquiries.
  • Maintain files electronically and relevant hard copies, including of all documents pertaining to investments and service contracts, for easy access by team members.
  • Assist with internal and external audits.
  • Serving as back-up to other Financial Assistants in the department. Undertaking ad hoc duties as may be assigned by the Senior Financial Assistant during absences and/or heavy work periods.
Selection Criteria:
 
Minimum Education/Experience:
  • Bachelor’s degree in Administration or Law degree with at least 2 years relevant work experience, or combination of degree and experience equivalent.
  • Experience with processing investment related legal documentation.  Familiarity with legal status of international organizations a plus. Basic understanding of economic and financial principles and terminologies.
  • Excellent skills in organizing, prioritizing, and coordinating work.
  • Capacity to deliver a substantial and proficient level of work independently.
  • Sense of responsibility, integrity, and positive attitude.
  • Legal Capabilities: Ability to identify relevant issues and risks which could have an impact on the investment and liaise with the relevant PEN stakeholders and LEGFI accordingly. Dedicated team player with excellent organization skills, proactive, keen attention to detail, and a demonstrated ability to handle a variety of concurrent activities in a timely manner with minimal supervision.
  • Excellent interpersonal and communication skills, with ability to interact tactfully in internal/external contacts at all levels, exercising good judgment in handling confidential and sensitive information.
  • Flexibility to perform a variety of tasks and expand the scope of work and responsibilities, with willingness to work overtime on short notice and committed to achieving individual and team results.
  • Highest ethical standards.

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