E T Consultant
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Location:
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Salary:negotiable / YEAR
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Job type:CONTRACTOR
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Posted:2 days ago
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Category:Budget and Accounting, Finance, Treasury and Investment
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Deadline:09/10/2024
JOB DESCRIPTION
Description
***These positions are open for internal (through a DAIS) and external (ETC) candidates. ***
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
Treasury is the Vice Presidency, reporting to the Managing Director and World Bank Group Chief Financial Officer, performing treasury functions for the IBRD and IDA and, to varying degrees, for other members of the World Bank Group and other public sector investors. Its activities are organized and grouped into the following departments: Capital Markets & Investment Management, Client Asset Management and Advisory, and Treasury Operations.
Treasury has been a large and significant player in the international financial markets for over seventy years and has achieved a global reputation as a prudent and innovative borrower, investor, and risk manager. Treasury is responsible for: (i) managing approximately $200 billion in assets for the World Bank and other official sector investors; (ii) leading IBRD’s and IDA’s triple-A rated financing programs in international and domestic bond and derivative markets; (iii) conducting asset and liability management for IBRD’s and IDA’s balance sheets; (iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and (v) collaborating with the World Bank member countries to help build their capacity. Staff in Treasury regularly interact and collaborate with other Departments across the Bank and Finance Partners teams.
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Treasury Operations is the Department (TREOP) which provides a full range of middle and back-office support for Treasury’s asset management, capital markets and banking functions. The Department is organized in three operational units: Asset and Liability Operations (TREAL), Banking Operations (TREBK), and Quantitative Solutions and Analytics (TREQA), supported by a TRE Technology Coordination function (TREFT)).
The Treasury Asset & Liability Operations team (TREAL) team is responsible for supporting more than $ 300 billion and $500 billion in outstanding debt and derivatives transactions over their life cycle respectively for the IBRD, IDA, and more than 60 client portfolios. The team manages relationships with clients, broker dealers, custodians, agents, market counterparts, and technology vendors. In addition to managing the day-to-day operations, TREAL staff lead the research, coordination, and implementation of new products and markets across Treasury. The team has a heavy focus on, and takes a leadership role in, evaluating and deploying the latest products and technologies (core trading platforms and new initiatives and technologies like CBDC, blockchain, AI, robotics, etc.) to create efficiencies, reduce risk, and advance thought leadership amongst WB’s peers and clients. TREAL staff participate in capacity building programs for clients in these areas of expertise. TREAL staff recently co-led projects where the World Bank issued innovative digital bonds using blockchain technology and CBDC. In recognition of their efforts to advance capital markets and asset management, the TREAL team received several industry awards including for “Innovation in Reserves Management” (2021) and “Asset Servicing Initiative of the year” (2023). The team has twice been shortlisted for “Operations Team of the Year” award (2023 and 2024).
TREAL staff members are located in the Bank’s Washington DC headquarters, in the Shared Service Centers in Chennai, India and in Sofia, Bulgaria.
Duties and Accountabilities:
This is a core fixed income and derivative operations role. We are looking for candidates with up to three years of prior experience. Preference will be given to candidates who have a strong interest and experience in, and aptitude for, deploying emerging technologies to improve operations. The candidate’s primary responsibilities will include, but not be limited to, some combination of the following activities:
• Perform and automate various facets of post-execution activities for fixed income (fixed and floating rate bonds, MBS, ABS), derivatives (futures, options, swaps), and cash products (repo, Money-market, FX); design and implement technology tools (AI, Machine Learning, and programing languages like Python) to improve processes.
• Work closely with traders and colleagues in Accounting, Banking, Credit, Development Finance, Legal, Technology, and Valuation units internally, as well as with Counterparts, Custodians, Futures Commission Merchants, and Calculation, Collateral and Fiscal Agents externally.
• Ensure the settlements and manage cash for fixed income and derivatives portfolios with 70+ counterparties and other Bank clients.
• Perform various daily and monthly Collateral Management tasks and working as an integral part of the team in monitoring and managing the institution’s credit exposure to over 70+ active global counterparts.
• Assist in the development and implementation of, and compliance with, changes to TREAL procedures, processes, and standards.
• Develop training and skill enhancement initiatives (e.g., through presentations, seminars, and workshops) and join missions to transfer global knowledge and experience for various client advisory projects.
Selection Criteria
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1. Bachelors degree in Finance, Economics, Computers, Data Analytics, or equivalent with at least one year of experience. Professional certifications such as a CFA will be a plus.
2. Experience with programing, quantitative, and analytical skills, including with AI and Machine Learning will be a plus.
3. Familiarity with business-related IT development or IT technology projects, also with user acceptance testing and its related documentation. Previous exposure to FinTech related knowledge is a plus.
4. Proven capacity to multi-task, deliver results and respond quickly and effectively to requests. Ability to handle multiple concurrent transactions on a tight timetable, consistent with a high level of client expectations
5. Knowledge of Python and Microsoft tools and applications like Power Query, Power BI, Power Apps, will be a plus.
6. Original thinking / quick learning abilities with strong initiative and drive, as well as attention to details.
7. Good team player with strong communication (written and oral) skills, and commitment to work in a respectful, team-oriented, and multi-cultural environment.
8. Excellent interpersonal and people management skills, with the ability to interact tactfully with clients and/or business associates across all levels, while exercising sound judgement in handling confidential information.
World Bank Group Core Competencies
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.
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Learn more about working at the World Bank and IFC, including our values and inspiring stories.
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