Financial Officer World Bank Group Experience: 3 to 5 Years Washington DC, United States of America Apply By: 29-09-2024

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Description

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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.  

The World Bank Group (World Bank) is one of the world’s largest sources of funding and knowledge for developing countries. The World Bank works in more than 100 developing economies to improve living standards and fight poverty. The World Bank uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth and improve the quality of life. The World Bank is owned by 189 member countries whose views and interests are represented by a Board of Governors and a Washington DC-based Board of Directors. More than 190 countries participate in at least one of the five World Bank Group (“WBG”) institutions, each of which specialize in different aspects of development: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA) (IBRD and IDA together also referred to as the “World Bank” or the “Bank”), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), the International Centre for Settlement of Investment Disputes (ICSID).

• Treasury (TRE) 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.
• 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)).
• Treasury Asset and Liability Operations (TREAL) is the unit responsible for delivering on a range of operations functions supporting the funding, investment, and asset and liability management portfolios for internal World Bank Group (IBRD, IDA, MIGA, and Trust Funds) entities. In addition, the team supports the investment portfolios for a growing roster of more than 60 client entities in domestic and international markets. The team provides integrated and end-to-end support for all trade execution and portfolio servicing activities including trade review, settlement and documentation, options monitoring, debt service and cash and collateral management across the full range of products including bonds, swaps, repos, deposits, and exchange-traded derivatives. 
• In performing these functions, the team works closely with internal partners and market counterparts as well as external service providers such as technology vendors, custodians, and paying agents. In addition to these day-to-day responsibilities, the team leads the implementation of new products, markets, and business-related technology solutions. TREAL staff stay at the forefront of experimenting with and developing new technologies and products like distributed ledger technology (DLT, or blockchain) and central bank digital currencies (CBDC) to create efficiencies in the work program, to advise member countries, and for overall capital markets development.  TREAL also collaborates with partners across Treasury to participate in capacity building for clients in its areas of expertise. 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:

We are looking for a candidate with deep experience in asset management operations or related field. The candidate should have demonstrated ability to be the go-to person in their area of expertise, lead projects, and drive consensus and change amongst a large group of diverse stakeholders.   

The candidate’s primary responsibilities will include, but are not limited to, some combination of the following activities:

• Perform and provide guidance to junior staff on 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);
• Work closely and manage relationships 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.
• Oversee and ensure the settlement and cash management for fixed income and derivatives portfolios with market counterparties and 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.
• Collaborate across teams and lead technology implementations and enhancements; stay at the forefront of emerging market, regulatory, and technological changes.
• Lead 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) to transfer global knowledge and experience for various client advisory projects.  

Selection Criteria

• Degree in Finance, Economics, Data Sciences, Engineering, Accounting, or related business discipline with at least 5 years of experience. Professional certifications such as a CFA will be a plus. 
• Treasury experience preferably in securities and derivatives operations.
• Experience working with market counterparties, clients, depositories, agents, custodian banks, and clearing brokers is a plus.
• Strong quantitative and qualitative analytical skills, including Excel skills.
• Command over 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. 
• 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.
• Knowledge of AI and Treasury systems (Summit, Murex, Markitwire etc.) and Python, Microsoft tools and applications like Power Query, Power BI, Power Apps, will be a plus.
• Original thinking / quick learning abilities with strong initiative and drive, as well as attention to details. 
• Good team player with strong communication (written and oral) skills, and commitment to work in a respectful, team-oriented, and multi-cultural environment. 
• 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.

Source: https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=29315&site=1

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