Senior Financial Sector Specialist – GG

Description

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. Please visit www.worldbank.org.

 

Equitable Growth, Finance, and Institutions Practice Group:
 

The Equitable Growth, Finance, and Institutions Practice Group (EFI) is one of the World Bank Group’s four Practice Groups. EFI’s mandate is “Growth, Finance, and Institutions for all.” Our approach is to leverage public and private sector expertise, together with International Finance Corporation (IFC), to support a data-driven reform agenda. EFI supports clients in advancing evidence-based structural reforms to build the foundations for inclusive and sustainable growth.

 

EFI is composed of four Global Practices (GPs):

Macroeconomics, Trade, and Investment (MTI) – consists of country economists and trade, financial and private development specialists that support structural reforms.
 

Governance GP – consists of public sector, financial management and procurement specialists to support institutional and governance reforms and provide fiduciary support to all Bank operations.

 

Poverty and Equity GP – consists of micro, labor, and development economists to build the evidence base, provide advice and operational support to ensure country policies and WBG interventions are inclusive.

 

The Finance, Competitiveness, and Innovation (FCI) GP is comprised of two directorates: The Finance directorate, and the Trade, Investment and Competitiveness (TIC) directorate. The 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 Directorate 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 and disaster risk finance.

The Financial Stability & Integrity unit (EFNFS) in the FCI Global Practice works on a range of areas, including financial stability, bank regulation and supervision, bank resolution and crisis management, corporate governance, financial integrity, and asset recovery. Within EFNFS, the stability team assists national authorities to improve the prudential policy, legal, regulatory, supervisory, and institutional framework needed to achieve and sustain financial sector stability, engages with standard setters bringing in the perspectives of emerging markets and developing economies (EMDEs), and produces analytical work. The (global) stability team provides technical inputs (including as technical project leads) to region-led advisory/analytical operations and lending operations and conducts country-level diagnostics and knowledge work on regulation and supervision of deposit taking institutions, bank resolution and crisis management, and other aspects related to financial stability. It also manages the financial sector assessment programs (FSAPs), coordinates the World Bank engagement with the Financial Stability Board (FSB) and is the lead technical provider for assessments of compliance with the Basel Core Principles for effective banking supervision (BCPs).

 

Role & Responsibilities:

The successful candidate will be expected to lead and deliver technical work on financial sector crisis preparedness, management and resolution, ahead of and where needed in response to financial sector stress. Such work includes country focused support such as forward-looking assessment of financial stability risks, review of financial safety nets (including in the context of Financial Sector Assessment Programs, FSAPs), policy analysis and design, technical assistance and preparation of World Bank lending. The successful candidate will also contribute to policy making and shaping World Bank positions in global discussions on related topics (including in the context of World Bank membership of the Financial Stability Board, FSB). The candidate should be willing to travel extensively to deliver assistance to client countries. 

 

Specific duties and accountabilities include:

• Conduct (or contribute to) forward-looking risk assessments of financial systems and individual institutions to identify key financial stability risks (including credit and liquidity risks, interconnectedness, sovereign-bank nexus etc.).

• Conduct in-depth assessments of the adequacy of financial safety nets including bank recovery and resolution frameworks (and where needed individual institutions’ plans), deposit insurance (in line with the IADI Core principles), emergency liquidity arrangements (based on international standards and best practices as well as country contexts) and formulate practical, implementable recommendations for their strengthening.

• Review of crisis preparedness and management arrangements, including inter-agency coordination, cross-border cooperation, communication, information availability, decision-making arrangements etc.

• Conduct assessment of compliance with the FSB Key Attributes for effective banking resolution in the context of Financial Sector Assessment Programs (FSAPs).

• Assess (or support of the authorities’ review of) recovery, restructuring and resolution options for financial systems and, where needed, individual institutions (including in crisis contexts).

• Design and deliver financial sector Crisis Simulation Exercises (CSEs).

• Analyze international practices and literature on these topics and assess relevance for Emerging market and Developing Economies (EMDEs), prepare written notes, papers, reports which analyze policy issues and implementation challenges, advocate and support recommendations and good practices.

• Promote the adoption and implementation of international best practice in client countries to foster the sound development of banking intermediation (including by designing and delivering training and other capacity building activities on such topics) in a manner that fosters financial stability.

• Support the design (and implementation monitoring) of World Bank lending projects to support financial sector strengthening.

• Represent the World Bank in international fora (as needed, including in the FSB Resolution Steering Group and the International Association of Deposit Insurers-IADI).

• Providing compelling presentations on crisis management and financial stability to disseminate policy analysis and recommendations, including in workshops, conferences, and meetings. 

 

Selection Criteria

• Master’s degree in a relevant discipline (finance, economics, public policy, international relations, law);
• At least ten years relevant financial sector experience, including working for financial sector authorities, consultancies, investment banks, think-tanks (or similar bodies) involved in all or some of the following topics: resolution, deposit insurance, central banking, banking supervision, financial stability and crisis management;
• Excellent knowledge and in depth-experience in crisis preparedness, crisis management, bank recovery and resolution, deposit insurance, emergency liquidity assistance, risk analysis (system-wide and institution specific). Hands on experience in the management of financial sector crises;
• Proven capacity to apply best international practices in an EMDE context;
• Direct experience in assessing risks and stress of financial institutions, and designing mitigating measures;
• Ability to develop comprehensive crisis response plans tailored to different scenarios, ensuring the resilience of the bank’s operations and minimizing disruption to customers and stakeholders;
• Strong sense of strategy, including ability to conceptualize, prioritize and be selective;
• Demonstrated ability to rapidly acquire new skills and knowledge;
• Excellent organizational, analytical and prioritization skills, with ability to follow assigned tasks/projects through to completion;
• Excellent written and oral communication skills (incl. ability to write reports for senior policy makers) and demonstrated ability to advocate positions;
• Fluency in English is required, Fluency in Spanish or French would be welcome;
• Willingness to undertake frequent travel.
 

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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