Financial Officer

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World Bank Group


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Description

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The World Bank Treasury

Treasury is the Vice Presidency performing treasury functions for International Bank for Reconstruction and Development (IBRD)and other members of the World Bank Group. Its activities are organized and grouped into three departments: (1) capital markets, investments & financial products, (2) asset management and advisory, and (3) treasury operations. Treasury has been a large and significant player in the international financial markets for over 75 years and has achieved a global reputation as a prudent and innovative borrower, investor, and risk manager. Treasury is responsible for

  • managing almost $200 billion in assets for the World Bank and other official-sector investors;
  • leading the World Bank’s financing program in international and domestic bond and derivatives markets;
  • conducting asset and liability management for IBRD and the International Development Association’s (IDA) balance sheets;
  • overseeing the development and outreach related to the financing and hedging products that IBRD and IDA provide for their developing-country clients; and
  • collaborating with official sector institutions of member countries to help build their capacity in asset and public debt management. 

Capital Markets, Investments and Financial Products

Within Treasury, the Capital Markets, Investments & Financial Products department (CMI) is responsible for managing annual funding programs for IBRD (approx. $55-65 billion) and IDA (approx. $10-15 billion) and building sustainable capital markets, managing liquid asset portfolios for IBRD and IDA (approx. $115-125 Billion), and the asset and liability management aimed at reducing risk on IBRD and IDA’s balance sheets. CMI also advises clients on loans and risk management products, and structures financial products for development. CMI places a strong emphasis on achieving the best possible financial terms within prudent market, liquidity, credit, operational, and reputational risk parameters. CMI is comprised of six teams carrying out these responsibilities. The working environment is fast-paced and dynamic, as the teams regularly deal with new ideas, projects, and challenges.

  • CMIIL – Investment management and Liquidity operations: This team manages funds raised for lending activities of IBRD and IDA, by investing the funds in high-grade assets. The main objectives are principal protection and ensuring sufficient cash flow to meet IBRD’s and IDA’s financial commitments. The team also seeks a reasonable return to contribute to net income
  • CMIDO – Debt Origination: This team is responsible for raising long and short-term funding in the global capital markets for both IBRD and IDA. The goal is to achieve funding on a sustainable basis and at the best possible cost through a variety of programs, markets, currencies, and instruments including both plain vanilla and structured notes. The team execute yearly US$60 to US$80 bn of medium-term bonds and a total of approx. USD100 bn notional swaps to hedge all the issuances. The team also manages 2 short term funding programs (IBRD Discount Notes and IDA Bills) with about US$25 bn outstanding. 
  • CMIIS – Investor Relations and Sustainable Finance: This team works to cultivate, maintain and strengthen investor, rating agency and financial media relationships for IBRD, IDA and IFFIm to help achieve CMI’s funding goals. The team focuses on specific outreach activities, and works closely with other teams in CMI, TRE and other VPUs to contribute to the World Bank’s development purpose and build sustainable capital markets, including by engaging with investors and market participants on environmental, social and governance (ESG) issues.
  • CMIAP – ALM and Policy: This team is responsible for analytics, monitoring, and policy formulations for activities that impact IBRD and IDA’s balance sheets. The team participates in formulation of policy, guideline, and processes that impact the financial risk and income of IBRD and IDA and works closely with the relevant teams, sets limits and monitors the pre-defined and agreed funding and investment activities. The team also oversees implementation and execution of capital markets activities to support IBRD and IDA’s balance sheet management and provides liquidity calculation and reporting and analysis for rating agencies.
  • CMIMS – Market Solutions and Structured Finance: This team designs and executes market-based risk management and structured transactions for external and internal clients and provides structuring expertise and advisory services to address development challenges.
  • CMIFP – Financial Products and Clients Solutions: This team helps clients find solutions for their development financing and risk management needs leveraging IBRD and IDA’s financial products and TRE’s financial expertise and market access.  It provides support for IBRD and IDA operations and clients on the full menu of financial and risk management products, pricing and loan customization, blending and co-financing, IDA to IBRD transition, and thematic bond issuance strategies and reporting, among other areas. 
  • Note: If the selected candidate is a current World Bank Group Staff Member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. If the selected candidate is a current World Bank Group Staff Member with a Term appointment that expires later than the end date of this appointment, s/he will retain the duration of his/her current Term appointment.

Responsibilities

The Financial Officer will be a member of CMI’s Asset Liability Management and Policy Team (CMIAP) with roles and responsibilities outlined below.

  • Executing currency swaps, interest rate swaps, and other derivatives transactions for IBRD and IDA risk management and funding activities;
  • Maintain partnerships with investment banks; underwriters and derivative counterparties to promote the franchise of the IBRD and IDA as a participant in the capital markets;
  • Provide quantitative expertise and support to IBRD and IDA ALM activities. Including application of mathematical and statistical techniques to address financial instrument valuation, risk management, and rating agency criteria.
  • Work in other departments to effectively and efficiently provide financial solutions to IBRD and IDA borrowers; 
  • Assist in developing policy and technical papers related to policies on IBRD and IDA ALM, Funding and Liquidity Risk;
  • Provide cross-support for other groups and projects within CMD and TRE;
  • Support reporting responsibilities;
  • Other duties as assigned.

Selection Criteria

The successful candidate should have the following qualifications:

  • Master’s degree in finance, mathematics and/or economics with at least 2 or more years of relevant work experience.
  • Hands on quantitative experience (e.g. risk management, trading, ALM , etc.) in a financial environment.
  • Knowledge of finance theory, derivatives instruments, pricing models, hedging and risk management techniques.
  • Excellent writing and communications skills. Ability to present complex products or analyses in a concise and clear manner. 
  • Original thinker, quick learner, good team player with excellent interpersonal skills, initiative and drive, and the ability to interact successfully with all levels within the Bank as well as with external counterparts, such as market counterparts, government authorities, etc.
  • Ability to multitask and move projects forward while maintaining high quality output.
  • Ability to work across units and resolve conflicts smoothly.
  • Knowledge of IDA/IBRD activities and financial products and policies is desirable.
  • Proficiency in English (another language is desirable).
  • Willingness to travel 
  • Highest ethical standards.

Source: https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=27742&site=1

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