Senior Financial Sector Specialist

World Bank Group

World bank group

Position description

Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. 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, increasing shared prosperity and promoting sustainable development. 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. Visit www.worldbank.org.

 

EQUITABLE GROWTH, FINANCE, AND INSTITUTIONS PRACTICE GROUP:

 

The Equitable Growth, Finance, and Institutions Practice Group (EFI) is one of the World Bank Group’s four Practice Groups. EFI’s mandate is “Growth, Finance, and Institutions for all.” Our approach is to leverage public and private sector expertise, together with International Finance Corporation (IFC), to support a data-driven reform agenda. EFI supports clients in advancing evidence-based structural reforms to build the foundations for inclusive and sustainable growth.

 

EFI is composed of four Global Practices (GPs):

 

The Macroeconomics, Trade, and Investment (MTI) GP consists of country economists and trade that support structural reforms.

 

The Governance GP consists of public sector, financial management and procurement specialists to support institutional and governance reforms and provide fiduciary support to all Bank operations.

 

The Poverty and Equity GP consists of micro, labor, and development economists that provide advice and operational support to ensure country policies and WBG interventions are inclusive.

 

The Finance, Competitiveness, and Innovation (FCI) GP is composed of two directorates: The Finance directorate, and the Trade, Investment and Competitiveness (TIC) directorate. The GP aims to support client countries to create an enabling environment in which financial stability, efficiency and firm-level solutions are provided in an integrated way to crowd in the private sector, support the creation of markets, and accelerate equitable growth.

 

FCI finance professionals lead or participate in a wide variety of analytical and advisory work that add to the core expertise delivered to client countries. Knowledge and learning are a central part of the FCI agenda, with work focused on the following thematic areas: (a) Financial Stability and Integrity; (b) Long Term Finance; (c) Financial Inclusion and Infrastructure; (d) Crisis & Disaster Risk Finance; (e) Investment Climate; (f) Firms, Entrepreneurship and Innovation; (g) Markets and technology; and (h) Trade and regional integration. 

 

The Financial Stability and Integrity Unit (FSI) leads analytical work and provides support to FCI regional teams on the following topics: financial sector vulnerabilities and responses, regulatory and supervisory banking frameworks, banking resolution, NPLs and distressed assets, financial oversight, crisis preparedness and management, deposit insurance, cybersecurity, regulatory aspects of green and digital finance, Anti-Money Laundering and Countering the Financing of Terrorism, National Risk Assessments, Illicit Financial Flows,  corporate governance of state-owned financial institutions. The Financial Stability and Integrity Unit also coordinates the Word Bank engagement with the Financial Stability Board (FSB), key financial sector standard-setting bodies, and the Stolen Asset Recovery (StAR) Initiative. It manages for the WBG the Financial Sector Assessment Program (FSAP).

 

Roles & Responsibility:

 

The successful candidate will be expected to lead and deliver technical work on financial sector crisis preparedness, management and resolution, ahead of, and where needed, in response to financial sector stress. Such work includes country focused support such as forward-looking assessment of financial stability risks, review of financial safety nets (including in the context of Financial Sector Assessment Programs, FSAPs), policy analysis and design, technical assistance and preparation of World Bank lending. The successful candidate will also contribute to policy making and shaping World Bank positions in global discussions on related topics (including in the context of World Bank membership of the Financial Stability Board, FSB). The candidate should be willing to travel extensively to deliver assistance to client countries. 

 

Specific duties and accountabilities include:

 

• Conduct (or contribute to) forward-looking risk assessments of financial systems and individual institutions to identify key financial stability risks (including credit and liquidity risks, interconnectedness, sovereign-bank nexus etc.) 

• Conduct in-depth assessments of the adequacy of financial safety nets including bank recovery and resolution frameworks (and where needed individual institutions’ plans), deposit insurance, emergency liquidity arrangements (based on international standards and best practices as well as country contexts) and formulate practical, implementable recommendations for their strengthening

• Review of crisis preparedness and management arrangements, including inter-agency coordination, cross-border cooperation, communication, information availability, decision-making arrangements etc.

• Assess (or support of the authorities’ review of) recovery, restructuring and resolution options for financial systems and, where needed, individual institutions (including in crisis contexts)

• Design and deliver financial sector Crisis Simulation Exercises (CSEs)

• Analyze international practices and literature on these topics and assess relevance for Emerging market and Developing Economies (EMDEs), prepare written notes, papers, reports which analyze policy issues and implementation challenges, advocate and support recommendations and good practices

• Promote the adoption and implementation of international best practice in client countries to foster the sound development of banking intermediation (including by designing and delivering training and other capacity building activities on such topics) in a manner that fosters financial stability

• Support the design (and implementation monitoring) of World Bank lending projects to support financial sector strengthening

• Represent the World Bank in international fora (as needed)

• Participate in other forms of dissemination of policy analysis and recommendations 

 

 

Selection Criteria

 

• Master’s degree in a relevant discipline (finance, economics, public policy, international relations, law)
• At least ten years relevant financial sector experience, including working for financial sector authorities, consultancies, investment banks, think-tanks (or similar bodies) involved in all or some of the following topics: resolution, deposit insurance, central banking, banking supervision, financial stability and crisis management 
• Excellent knowledge and in depth-experience in crisis preparedness, crisis management, bank recovery and resolution, deposit insurance, emergency liquidity assistance, risk analysis (system-wide and institution specific). Hands on experience in the management of financial sector crises
• Proven capacity to apply best international practices in an EMDE context
• Direct experience in assessing risks and stress of financial institutions, and designing mitigating measures
• Strong sense of strategy, including ability to conceptualize, prioritize and be selective
• Demonstrated ability to rapidly acquire new skills and knowledge 
• Excellent organizational, analytical and prioritization skills, with ability to follow assigned tasks/projects through to completion
• Excellent written and oral communication skills (incl. ability to write reports for senior policy makers) and demonstrated ability to advocate positions
• Fluency in English is required., Fluency in Spanish or French would be welcome
• Willingness to undertake frequent travel

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