Senior Financial Sector Specialist

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JOB DESCRIPTION

 

Description

 

The World Bank Group (WBG):  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 Finance, Competitiveness, and Innovation Global Practice (FCI GP) is comprised of two practices: The Finance practice, and the Trade, Investment and Competitiveness practice. The FCI GP aims to support client countries to create an enabling environment in which financial stability, efficiency and firm-level solutions are provided in an integrated way to crowd in the private sector, support the creation of markets, and accelerate equitable growth.
The Finance Practice provides analytical and advisory support to the international community to enact reforms that lead to deep, inclusive, efficient, and resilient financial systems. The Directorate is comprised of thematic teams focused on (i) Financial Stability and Integrity, (ii) Financial Inclusion and Infrastructure, (iii) Long Term Finance and (iv) Crisis & Disaster Risk Finance.
The Crisis & Disaster Risk Finance team supports policy reforms and (market-based) risk finance solutions to help countries (governments, firms and households) increase their financial resilience against disasters, climate shocks and other crises.  The team offers a set of analytical and advisory services, financial services, and knowledge services to support the countries toward improved financial resilience, through contributions to high-level dialogues on climate and disaster risk finance at international forums (e.g., G7, G20, COP) and country-led lending operations. Among the programs managed by the team are: the Disaster Risk Finance and Insurance Program (DRFIP); the Global Shield Financing Facility; the Risk Finance Umbrella Program; and regional programs such as the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI) and the Southeast Asia Disaster Risk Insurance Facility (SEADRIF).
Roles & Responsibilities
The Crisis & Disaster Risk Finance team seeks to recruit a Senior Financial Sector Specialist with background and experience in risk finance and insurance against climate shocks, disasters and other crises.  The selected candidate will bear responsibility for creating and advancing the overall strategic agenda, playing a pivotal role in coordinating activities, and delivering analytical and advisory services. Key responsibilities include:
• Conducting analytical work to inform (financial sector and/or macro-economic) policy reforms for enhanced financial resilience and to develop (market-based) risk finance solutions for governments, businesses and households.
• Supporting the inclusion of risk finance into the financial sector agenda, public financial management agenda, and the broader crisis preparedness and response agenda.
• Leading technical assistance and supporting country lending operations in improving financial resilience against disasters, climate shocks and other crises. The selected candidate will advise regional teams as a global expert on the design and implementation of policy reforms and (public and private) risk finance instruments in country operations.  The selected candidate will work with and coordinate interdisciplinary teams and projects.
• Leading the dialogue on climate and disaster risk finance with development partners and managing World Bank’s Trust Funds.
• Supervising a technical team, comprised of staff and consultants from a wide range of specialist backgrounds, to ensure on-time and high-quality delivery of analytical products and advisory services.
• Supporting and leading engagements on climate and disaster risk finance with external and internal stakeholders. External partners include high level forums (e.g., G20, G7, COP), and global initiatives such as the Global Shield against Climate Risks and the Insurance Development Forum.
• Preparing briefings for senior management on policy developments and events linked to climate and disaster risk finance.

 

Selection Criteria

 

• Advanced degree (Master’s/PhD) in a relevant area, for example Finance, Economics, Econometrics, Business Administration, Public Policy.  The minimum requirement to apply is a master’s degree with 8 years of experience or an equivalent combination of education and experience.
• Experience in public financial management including work on strategy and policy frameworks; governance and institutional arrangements; risk management; budget execution; management of contingent liabilities.
• Private sector experience in structuring and implementing risk finance and insurance instruments (e.g., contingent finance, traditional reinsurance, parametric reinsurance, catastrophe bonds, insurance-linked securities); knowledge of regional and national catastrophe risk pools is a plus.
• Experience in advising governments and public institutions on financial risk management in emerging markets and developing countries. The candidate’s professional experience includes working for a financial sector authority (e.g., central bank, Ministry of Finance), an International Financial Institution, a financial institution, and/or private sector insurance industry.
• Experience in the management/leadership of World Bank lending operations, from identification to implementation. The selected candidate will have strong project management skills, with capacity to work simultaneously on a variety of issues and tasks.
• Knowledge of climate finance, such as disclosure and reporting, risk management, innovative climate finance instruments (e.g., green bonds, sustainability-linked bonds).
• Demonstrated ability to establish trust and create partnerships with government officials or public sector clients in emerging markets in order to ensure a collaborative approach to design and implementation of customized financial solutions that achieve development objectives.
• Presentation skills demonstrating the ability to present the results of complex analytical output to a variety of audiences with different levels of technical knowledge and experience.
• Demonstrated interpersonal skills and experience in working effectively in large and multi-disciplinary teams of (senior) specialists.
• Ability to use quantitative techniques to support analysis and policy formulation, preferably through a track record of policy or academic publications.
• Excellent written and oral communication skills in English, specifically in writing and editing briefs, reports and preparing PowerPoint presentations. Demonstrated ability to advocate positions and defend difficult issues orally and in writing to government officials, management and others. Proficient knowledge of other relevant WB client country languages is a plus.
• Flexibility and willingness to travel.

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. 

 

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

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, ethnicity, sexual orientation, or disability.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.


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