Financial Analyst

Do you want to build a career that is truly worthwhile? The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group, and our mission is to promote foreign direct investment into developing countries to help end extreme poverty and boost share prosperity. We do that through the provision of political risk insurance and credit enhancement to investors and lenders against losses caused by noncommercial risks.

Hiring Unit Description

• The MIGA Finance and Risk Department (MIGFR), where the Risk Analytics team is housed, acts as the custodian of MIGA’s financial integrity with a focus on both income sustainability and balance sheet strength. The Risk analytics team also provides analytical support for the effective implementation of MIGA’s operational work program.
• MIGFR is seeking a Financial Analyst to conduct analysis of MIGA’s guarantee portfolio, including trends of various operational and financial reports, assessing the Agency’s capital adequacy and financial sustainability, quantifying the need for reserves to be held on MIGA’s books, and performing and tracking pricing of MIGA’s guarantee products. Please see below for more details.

Duties and Responsibilities

• The selected candidate will be part of a core team responsible for (i) risk-based pricing of MIGA’s guarantee products, ensuring timely pricing information is provided to project underwriters, (ii) providing economic capital consumption input to Early Screening Memos, Project Review, and Underwriting papers, and (iii) calculating upfront premium payment amounts and, validating upfront premium cashflow models proposed by project underwriters. S/he will also support MIGA’s Reinsurance team with data and analysis for net retention/reinsurance decisions.
• S/he will support on-going maintenance and update of MIGA’s core risk models, model code, and tools used by the team for (i) Capital utilization, (ii) Provisioning, (iii) Pricing, and (iv) Reinsurance decision support. This responsibility includes taking part in working groups tasked with enhancement of the existing data platforms and seamless transmission of financial data for various risk applications, liaising with MIGA’s IT team.
• S/he will maintain and update standardized pricing tables and online pricing tool used by underwriters, track pricing trends of MIGA’s guarantee products, perform analysis of contract rates and modeled risk-based premium rates, and prepare reports to management. This will also include monitoring MIGA’s cost recovery on a portfolio basis.
• S/he will gather and synthesize financial information and market statistics from various financial sources (e.g., Bloomberg and other online databases). S/he will also contribute to the maintenance of an internal database of relevant market data and trends, including sovereign bond spreads.
• While the focus of the position will be on risk-based pricing, economic capital analysis and maintenance of related risk models and tools, the selected candidate is also expected to work closely with other teams within MIGFR on risk-related assignments as required.

Selection Criteria

• Master’s degree (e.g., Finance, Economics, or related field) and at least 2 years of experience in finance and risk management, or an equivalent combination of education and experience. Professional certification such as Financial Risk Manager (FRM) would be a plus.Strong knowledge of complex financial modeling, and maintenance of spreadsheets, including VBA for Excel.
• Experience in enhancing existing models and tools to improve work processes would be a plus. Understanding of risk management practices and frameworks; including risk concepts such as Value-at-Risk (VaR) and Economic Capital (EC).
• Knowledge of guarantee or insurance products would be a plus, as would understanding of capital adequacy frameworks and loss dynamics of insurers and/or multilateral development institutions.Background in statistical data analysis and maintenance of large data sets.
• Knowledge of and experience working with the following would be an advantage: STATA, SAS, Bloomberg terminal, MATLAB computational software.High level of proficiency in Microsoft Word and PowerPoint.Ability to work independently, prioritize assignments, and provide timely support to internal clients, often under time pressure.
• Excellent organizational skills and be a strong team player.Ability to identify relevant sources for information and to apply it to make smart decisions and produce actionable recommendations.

Source: https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=28878&site=1