Description

Do you want to build a career that is truly worthwhile? Working at the World Bank provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank consists of two entities – the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). It is a global development cooperative owned by 189 member countries. As the largest development bank in the world, the World Bank provides loans, guarantees, risk management products, and advisory services to middle-income and creditworthy low-income countries, and coordinates responses to regional and global challenges. For more information, please visit www.worldbank.org.

The Multilateral Investment Guarantee Agency (MIGA or the Agency) is seeking a Lead Counsel for IBRD/IDA guarantee operations in its Legal Affairs and Claims Group.

Innovation and partnership bind the five institutions of the World Bank Group (WBG): the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank (“Bank”); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). The WBG is one of the world”s largest sources of funding and knowledge for developing countries. It uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth, create jobs and improve quality of life. To ensure that countries can access the best global expertise and help generate cutting-edge knowledge, the WBG is constantly seeking to improve the way it works. Key priorities include delivering measurable results, promoting openness and transparency in development, and improving access to development information and data.

In the context of the WBG’s broad development agenda, MIGA is committed to promoting foreign direct investment in its member countries by issuing guarantees against non-commercial risks to investors and lenders. Such guarantees can take the form of (i) political risk insurance (PRI) covering the risks of expropriation, breach of contract, transfer and convertibility restrictions, and war and civil disturbance, (ii) cover against the risk of non-honoring of financial obligations of sovereigns, sub sovereigns and state-owned enterprises, and (iii) trade finance guarantees in relation to public sector counterparties. Since July 2024, all WBG guarantee products are being processed by MIGA in the WBG Guarantee Platform, which brings together guarantee products and experts from across Bank, IFC and MIGA. This integration enhances efficiency, innovation, and speed in delivering guarantee solutions. Please visit www.miga.org for additional information regarding the WBG Guarantee Platform housed at MIGA.

The Legal Affairs and Claims Group in MIGA (known as “MIGLC”) serves as the legal counsel for MIGA and the WBG Guarantee Platform, and provides legal advice to IBRD/IDA, IFC and MIGA in relation to all guarantee operations. Among its principal responsibilities, MIGLC advises MIGA’s Council of Governors and Board of Directors as well as staff and senior management of the relevant WBG institution on all legal aspect of the WBG Guarantee Platform, negotiates and drafts contracts of guarantee, manages claim proceedings, facilitates discussions between investors and governments related to disputes and potential claims, oversees outside counsel, supports MIGA’s internal departments in risk and policy analysis, finance and risk management and external outreach, and promotes innovation and knowledge sharing in support of MIGA’s mission and the WBG Guarantee Platform.

The WBG is committed to achieving diversity in terms of gender, nationality, culture and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.

Roles & Responsibility

The position requires a seasoned professional with rigorous technical skills, sound judgment, demonstrated ability to lead and to work with a minimum of supervision and harmoniously within a small team. The level and quality of these skills will be a determining factor in the selection for the position.

The Lead Counsel’s duties and responsibilities will include:

Reporting to the Chief Counsel, the lead counsel will be part of a dynamic team providing legal solutions and specific expertise in support of Bank guarantee operations across all geographic regions and technical sectors of the Bank.

Under the guidance of the Chief Counsel, she/he will be responsible for leading the legal work in MIGLC on Bank guarantees, including clearing Bank guarantee documentation, liaising with internal clients and stakeholders in MIGA and the Bank, brainstorming on structuring transactions, drafting, negotiating, and implementing legal documentation and transactions (including the upstream public sector aspects of those transactions), advising on policy aspects, troubleshooting, and innovating with respect to the full range of Bank guarantee instruments and products. She/he will also take the lead on knowledge management and dissemination for Bank guarantees.

Specific duties and accountabilities include

• Providing well-informed and targeted legal advice and recommendations to management and staff on all legal, eligibility, structuring, transactional and policy aspects of actual or proposed Bank guarantee transactions.

• Leading the successful and timely delivery of legal work on Bank guarantee projects, including drafting, reviewing, clearing, negotiating, and finalizing related internal approvals and legal agreements and providing guidance to MIGLC lawyers.

• Leading the legal support to operational staff engaged in Bank guarantee projects and programs, including reviewing project and program documents for adherence to Bank Articles and Bank and WBG policies and procedures (including those relating to environmental and social risks and impacts), researching relevant precedents, and developing appropriate solutions for the management and mitigation of risks.

• Identifying and conceiving solutions to legal and operational policy issues in Bank guarantee projects and programs, engaging in policy and other dialogues and negotiations with internal WBG clients and stakeholders, private sector clients, government officials, and international financial institutions.

• Participating in approval meetings, providing guidance to MIGLC staff, acting as “trouble shooter” for operational and policy issues, and joining operational missions, as needed.

• Serving as a thought leader on innovation for Bank guarantee products, including joint WBG guarantee products.

• Providing legal support to MIGA’s portfolio team on active Bank guarantees and working closely with Chief Counsel for Claims Management on pre-claim/claim matters relating to Bank guarantees.

• Drafting and reviewing policy and procedure documents in relation to Bank guarantee operations.

• Preparing legal briefs as well as instructions and guidance notes to MIGA staff, as required.

• Preparing, reviewing and updating templates for Bank guarantee operations and other legal documentation.

• Promoting the WBG”s interests and protecting against reputational risks.

• Sharing best practices with MIGLC colleagues, operational staff in MIGA and WBG, and with member countries; organize and participate in learning events on Bank guarantees for MIGA and WBG staff.

• Demonstrating technical excellence and best practices by working on a limited number of her/his own Bank guarantee transactions.

• Working on other matters (including MIGA guarantee transactions), as requested by a Chief Counsel or the General Counsel.

Selection Criteria

• A minimum of twelve years of legal experience (in the areas identified below) in addition to a J.D., LL.B., LL.M., or equivalent, and admission to the Bar (or equivalent) in at least one jurisdiction.

• Demonstrated expertise in project finance, corporate finance, and structured finance with an established track record of successful structuring, drafting, negotiating, and delivery of transactions in support of long-term infrastructure investment in emerging markets is essential. Preferred areas of experience include energy, transport (rail/ports/airports), water, and wastewater sectors.

• Strong track record in Bank guarantee operations; expert knowledge of Bank guarantee policies and procedures as well as institutional history of Bank guarantees.

• Established track record in developing innovative and creative solutions to problems that may arise.

• Experience with preparing and updating of model documentation for Bank guarantees.

• Strong client service orientation and proven ability to multi-task and handle multiple concurrent transactions on a tight timeline and in a constantly changing business environment.

• Proven ability of building strategic relationships and communicating effectively with internal clients and key stakeholders in Bank guarantee operations with a view to building bridges and to effectively resolving transactional, policy and institutional issues that may arise.

• Outstanding professional judgement, including ability to identify issues to escalate to a Chief Counsel or the General Counsel.

• Proven ability to collaborate well in a multicultural environment and build effective working relationships with clients and colleagues.

• Excellent interpersonal skills, sound judgment and high ethical standards.

• Proven ability to communicate effectively and with tact and diplomacy within the WBG and with external stakeholders, including government officials.

• Fluency and excellent oral and written communication skills in English. Fluency in French or Spanish desirable.

• Understanding of the WBG mission and development agenda.

• Willingness to travel.

Note: This internal requisition is open to WBG and IMF staff only (including short-term and extended term consultants/ temporaries). External candidates are requested not to apply. In case an external candidate applies, their application will not be considered.

WBG Culture Attributes:

1. Sense of urgency: Anticipate and quickly respond to the needs of internal and external stakeholders.
2. Thoughtful risk-taking: Challenge the status quo and push boundaries to achieve greater impact.
3. Empowerment and accountability: Empower yourself and others to act and hold each other accountable for results.

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.