Location:

Washington DC, United States
Salary:

negotiable / YEAR
Job type:

FULL_TIME
Posted:

2 months ago
Category:

Budget and Accounting, Finance, Treasury and Investment
Deadline:

26/08/2024

JOB DESCRIPTION

ABOUT THE COMPANY:

non profit

JOB SUMMARY

Description

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.com.

The World Bank

The World Bank is one of the world’s largest sources of funding and knowledge for developing countries and works in more than 100 developing economies to improve living standards and fight poverty.

For each client, the World Bank uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth, and improve quality of life.

There are five World Bank Group institutions, each of which specializes in different aspects of development: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID).

The World Bank’s Twin Goals

The World Bank has twin goals of ending extreme poverty and promoting shared prosperity.

Its capacity to fulfill these goals is underpinned by a Treasury Vice Presidency (“Treasury”) that is widely recognized across the global capital markets for its dynamic professionalism and its record of innovation in obtaining outperformance for its clients in all the Treasury’s functions.

The World Bank Treasury

Treasury is the Vice Presidency performing treasury functions for IBRD and for other members of the World Bank Group.

Its activities are organized and grouped along 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 more than 70 years and has achieved a global reputation as a prudent and innovative borrower, investor, and risk manager. Treasury is responsible for: (i) managing more than $185 billion in assets for the World Bank and other official-sector investors; (ii) leading the World Bank’s financing program in international and domestic bond and derivatives markets; (iii) conducting asset and liability management for IBRD and IDA’s balance sheets; (iv) overseeing the development and outreach related to the financing and hedging products that IBRD and IDA provide for their developing-country clients; and (v) collaborating with official sector institutions of member countries to help build their capacity in asset and public debt management.

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.

Leveraging its presence in capital markets over nearly eight decades, the World Bank helps other development institutions, including International Finance Facility for Immunisation (IFFIm) and Clean Technology Fund (CTF), access capital markets. In such engagements, World Bank Treasury is responsible for execution of funding and derivative transactions, investor outreach and credit rating agency relationship management.

IFFIm was established in 2006 to frontload long dated pledges from its sovereign donors through its bond issuances to accelerate vaccination of children in poor countries.

Established in 2008 and backed by resources provided by its sovereign contributors, CTF provides scale-up financing to clean technology projects in developing countries, focusing on those that contribute to the demonstration, deployment, and transfer of low-carbon technologies with a significant potential for long-term greenhouse gas emissions savings.

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

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/or structured funding transactions for external and internal clients and provides structuring expertise and advisory services to address development challenges.

In addition, CMIMS coordinates delivery of relevant treasury management responsibilities among relevant CMI teams to external clients.

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.

CMIDO – Debt Origination: Capital Markets & Investments Debt Origination team (CMIDO) is responsible for managing the World Bank’s (IBRD & IDA) combined annual funding program of approximately USDeq.

60-70 billion in global bond markets. The team manages the World Bank’s benchmark funding program in global currencies as well as emerging market currency funding and helps position and differentiate the World Bank as the premier issuer in the capital market through flawless execution of bonds in many markets around the world.

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.

Responsibilities

The Financial Officer will report to the manager of the Investment management and Liquidity operations team (CMIIL) and will work in a fast-paced environment and will be expected to work well under pressure, be able to handle multiple tasks with high degrees of precision, and work well within a team.

Duties and accountabilities will be, but not limited to, the following:

• The Financial Officer is accountable for everything from building quantitative tool for setting the global investment strategies of the investment and liquidity portfolios of the institution, to trade execution.

• Developing and maintaining the data repository for impact report metrics, ESG research, and continuous engagement with issuers.

Serve as a liaison with new and existing data providers, conducting due diligence and staying abreast of new developments and product offerings.

Maintain up-to-date knowledge of the tools and processes of portfolio management to fulfil new requests, and anticipate future needs, for data access and analytics.

• Monitoring the state of the art and anticipated trends in data science and engineering as it may bear upon portfolio management, and support decisions on adoption of new technology.

• Learning existing code bases, including about 9,000 lines of VBA and several hundred lines of Python code to the extent necessary to debug, maintain and extend various modules in it.

• Forming and maintaining a support network of colleagues across Treasury, IT and Finance.

• Using the above to produce custom database-linked spreadsheets and other live dashboards and reports as requested by portfolio managers and other finance professionals

• Competently participate in the CMIIL team’s investment strategy discussions and be an integral member in setting trading strategies for fixed income portfolios in different currencies that enable efficient management of liquidity, build models to manage risk and enhance returns of IBRD and IDA portfolios.

• Generate, analyze and value trades ideas involving Interest Rate Derivatives such swaps, swaptions to hedge IBRD and IDA portfolios.

• Build tools to gather and analyze market information to determine investment opportunities and monitor the portfolio within the investment guidelines.

• Demonstrate great comprehension of macro-economic factors and their impact on fixed income investments and performance, with an ability to succinctly explain complicated concepts in simple terms.

• Display great attention to detail and provide periodic market summaries that will be part of the financial reporting, and ad-hoc updates to senior management.

• Provide regular financial market updates and analysis at team and department meetings with a focus on global fixed income markets.

• Collaborate with colleagues across multiple units in the World Bank on IBRD and IDA funding, currency, ALM and liquidity management policies.

• Support periodic review of investment portfolios, including preparation and presentation of materials.

• Develop excellent relationships with internal stakeholders and external counterparts (including trade counterparts) and promote the reputation of the World Bank in the financial markets.

• Collaborate with colleagues on Treasury initiatives including reporting, risk management and technology enhancement projects, and contribute to additional projects as needed within the department.

• Inspire other team members through leading by example, provide guidance and training for junior staff.

Selection Criteria

• Master’s Degree in Finance, Economics, Quantitative Analytics or related field

• Programming experience and skills in Python, VBA, R, SQL etc are a must.

• Strong financial modelling and quantitative skills, including experience in building dashboards, reports to track and analyze investment portfolios.

• Experience in text analytics tools to collect market intelligence and portfolio related news on an automated basis from various news sources.

• Experience in fixed income and forex markets, money market instruments such as Deposits, CDs, CPs, Repos, FX swaps, spot FX and related derivatives.

• Successful candidate must have in-depth knowledge of funding and balance sheet management at a bank, with past experiences primarily focused on managing liquidity portfolios within an ALM framework.

• Deep knowledge of fixed income instruments and related derivatives such as Swaps, Swaptions, Options and Futures.

• Experience in generating and analyzing trade ideas, complementing the risk to reward profile of IBRD and IDA investment portfolios.

• Practical knowledge of trading systems such as Summit, Murex etc., Bloomberg APIs is a must.

• Excellent analytical skills, verbal and written communication skills with a high attention to detail.

• Excellent track record of managing large investments in both money markets and bond markets.

• Expertise in managing investments across different regions (North America, Europe, Asia/Pacific) and currencies, and in-depth knowledge of derivatives for hedging (such interest rate and currency swaps).

• Excellent relationship management skills, with a reputation for being well respected among counterparts.

• Inspiring team members through leading by example, providing guidance and training for junior colleagues.

• Excellent team player with ability to work across the organization in a collaborative manner.

• Independent and critical thinker with attention to detail and ability to multi-task

• Excellent interpersonal skills and a commitment to work in a multi-cultural environment.

• Demonstrated commitment to the highest ethical standards.

• Excellent communication skills in English, both verbal and written.

Competencies

• Technical expertise: Broad and deep understanding of financial markets and financial instruments.

• Communication: Able to communicate in a constructive, concise, and professional manner.

Able to contribute to unit’s knowledge sharing.

• Innovation: Applies critical thinking to current approaches, identifies areas for improvement, and tries new solutions that drive results.

Considers own behavior in context of WBG’s values and mission and recognizes impact one has on others. Operates in ambiguity and changing needs and supports others to do the same.

• Sound judgment: Able to access situation and make sound judgment on action needed.

• Teamwork: – Keeps others fully informed to ensure integration and work consistency and displays a sense of mutuality and respect.

Approaches conflicts as common problems to be solved. Seeks and listens to input from others to inform own decision making and openly shares information.

Frames thinking/actions with a WBG corporate perspective in mind.

• Drive for Results: Sets challenging goals that align with the WBG mission and is always looking to improve. Understands clients’ most pressing challenges and contributes to solutions. Takes personal responsibility for producing high quality work, identifying and informing of risks, and delivering results for clients.

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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