Senior Financial Sector Specialist - Tenders Global
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Senior Financial Sector Specialist

World Bank Group

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Job Description

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Description

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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. 
East Asia and the Pacific (EAP) Region EAP is a large and diverse region, ranging from Small Island States of the Pacific to the Philippines and China! Despite substantial economic growth and poverty reduction, the EAP region faces huge development challenges. Growth has been uneven across and within countries, institutions still need strengthening, and most countries are heavily affected by climate change. The Bank plays a meaningful role on global public goods, including climate, biodiversity, water pollution, and health. The COVID pandemic, and more recently food and energy price increases are compounding the impact of the global economic slowdown. The World Bank Group is seen as a premier development institution in the Region, with a leadership role on analytical and advisory services as well as financing. East Asia and the Pacific Region:
The Role of the Global Practice for Finance, Competitiveness, and Innovation (FCI) in the WBG. The World Bank Group’s Finance, Competitiveness, and Innovation Global Practice (FCI) combines expertise in the financial sector with expertise in private sector development to foster private sector led growth and help build markets in client countries. FCI is an integrated World Bank and IFC Global Practice promoting inclusive and sustainable growth in a transforming world through finance and private sector solutions. FCI delivers tailored development solutions to countries and the global community at large, working with public and private sector clients. FCI structures and implements comprehensive financial sector and private sector solutions that bring together World Bank knowledge, financial products (loans, credits, guarantees, and risk-management products), convening services, and IFC advisory services.
The menu of solutions that FCI offers through its lending and advisory services is consistently evolving along with changes in the financial sector. It encompasses diverse areas such as financial stability and integrity, climate and risk management, credit bureaus, movable collateral, secured transactions, capital markets, infrastructure finance, housing finance, agriculture finance, financial inclusion, and digital financial services. The World Bank also seeks to meet demand for just-in-time expertise and to serve as a knowledge broker across all regions. 
The EAP FCI team designs and implements a growing portfolio of innovative lending operations, as well as ground-breaking advisory services and high-quality analytical work. This is designed to support policymakers in a broad range of issues related to financial sector development, strengthening competitiveness, and supporting innovation and productivity growth. EAP houses 3 important donor funded hubs in Korea, Malaysia, and Singapore to leverage partner resources to support both regional and global priorities/engagements.
The EAP FCI team (EEAF2) is looking for a Senior Financial Sector Specialist to better support its engagements in financial sector development and strengthen its ability to build new partnerships and leverage them to enhance operational support and knowledge sharing in the Pacific and in the EAP region. This role reports to the EEAF2 Practice Manager.
Duties and accountabilities:
  • The incumbent will primarily focus on operational and analytical support to deliver EAP FCI work program. The selected candidate will be familiar with World Bank operational work and have the technical breadth to contribute to the knowledge generation and policy dialogue on a broad array of financial sector sub themes. These particularly relate to financial inclusion, financial sector stability, capital market development, climate risk management and sustainable finance. The Senior Financial Sector Specialist will have demonstrated prior experience interacting with high-level officials in government, development community, and the private sector.
  • As member of the EAP FCI team, the incumbent will contribute to the FCI program working closely with the Pacific Country Management Unit (CMU) as well as FCI Bank colleagues, other Global Practices and IFC.
Duties include, but are not limited to, the following main tasks:
  • Lead the FCI dialogue in assigned country/(ies) with a focus on financial sector development: Supports counterparts on relevant issues focusing on the financial sector (financial inclusion, fintech, macro-financial stability, climate finance). 
  • Lead the dialogue with the assigned CMU and support regional corporate tasks: Prepare inputs for WPA discussions, and strategic documents such as CPFs, SCDs, CPSDs as well as regional strategies.
  • Support the Management of the FCI Portfolio: Lead operations and manage the implementation of the investment portfolio and work closely with the unit operations team to ensure quality, impact, and coordination across projects.
  • AAA & Advisory work: Support the development and implementation of high-quality AAA and advisory work including through effective aggregation of global team support and active collaboration with IFC. Based on high-quality analytical work, lead policy dissemination events with policymakers, stakeholders, and the private sector. Where applicable, develop technical assistance projects to follow on or complement the analytics and support lending.
  • Collaboration with IFC: Support the implementation of the MFD and PCM agenda, in collaboration with IFC through joint analytics (e.g. CPSD) and advisory, or through implementation of FCI projects that may contribute to or leverage IFC supported investments.
  • Represent the FCI practice with the CMU and be an active member of the Country team; Mentor junior staff/secondees as relevant.
  • Develop and maintain relationships with other relevant organizations, including ADB, IMF, etc.
Selection Criteria:
  • This position requires a seasoned financial sector professional with strong technical, operational, and interpersonal skills.  He/she will have demonstrated an ability to manage large teams and complex assignments and mentor team members effectively, deliver results on the ground and lead high level policy dialogue. 
  • An advanced degree (Master/PhD) in Finance, Economics, Business Administration, or related field.
  • Minimum of 8 years of relevant professional experience in financial sector development, economics, public policy, international development, or related field.
  • Solid technical skills in at least one of financial sector development areas i.e. financial inclusion, financial stability, payment systems, capital market development, climate and risk management, and sustainable finance, as evidenced through reports and other outputs.
  • Proven ability to conceptualize, design and implement major projects and to produce major/complex reports or studies, both within the WBG and outside.
  • Substantial and diverse experience in leading operations and client dialogue in IBRD or IDA countries. Strong preference will be given to candidates with experience in leading Investment Project Finance or Development Policy Finance operations and in managing complex tasks, such as multi-country regional engagements.
  • Proven ability to conceptualize, design and implement major projects and to produce major/complex reports or studies, both within the WBG and outside.
  • Demonstrated professional leadership and ability to lead a team of professionals in the execution of major projects.
  • Track record of knowledge aggregation and collaboration
  • Excellent communication skills in English, including articulating ideas verbally and in writing in a clear and compelling way across audiences of varied levels.
  • Strong interpersonal skills to manage relationship with financial sector authorities and sensitivity in dealing with authorities and regulators.
  • Willingness to travel to work with World Bank country clients and collaborate with World Bank global experts.
  • Passion for promoting development solutions and ability to link finance and development.

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