GBLCAREERS

As a joint World Bank -IFC practice, the Finance & Markets Practice brings together the World Bank’s knowledge, finance (loans, credits, guarantees, risk management products), and convening services, and IFC advisory at the industry and public sector level into a single suite of development solutions for our clients and the global community to support reaching the twin goals of eliminating extreme poverty and promoting shared prosperity. Today, this suite of financial solutions is in excess of US$10 billion in current and pipeline engagement commitments. We also have an ongoing portfolio of about 400 knowledge activities (with costs up to $73 million) and 98 IFC advisory services (valued at $136 million).

Led by a Senior Director and two Directors, the practice is managed by a cadre of 14 Practice Managers who oversee its regional teams and Global Solutions Groups, and CGAP, which has a dedicated Director. Thematically, the practice is organized into three Global Solutions Groups. The first Group’s activities are aimed at strengthening the foundations of stable financial systems and markets by supporting global financial sector oversight frameworks and policies; strengthening banking regulation and restructuring regimes; improving financial sector integrity efforts and deepening capital markets, insurance, pensions and investment funds. The second Group works to improve financial infrastructure and access through its work on credit infrastructures; payment and market infrastructures; responsible financial access: and SME finance.

This position falls under the third Global Solutions Group of the Finance and Markets Global Practice: Long Term Finance and Risk Management. Long Term Finance and Risk Management addresses the challenge of the sharp decline in private/public funding for key economic growth sectors and basic infrastructure and the creation of huge gaps in long-term finance for development. The goal of the Long Term Finance and Risk Management group is to help countries implement suitable and innovative instruments and capital markets solutions to close their financing gaps. Long Term Finance and Risk Management works jointly with other parts of the World Bank Group on agriculture finance, disaster risk finance, infrastructure finance and housing finance.

Long Term Finance and Risk Management includes the Global Index Insurance Facility (GIIF), a comprehensive risk mitigation program created to address the scarcity of affordable insurance protection against weather and natural disasters in developing countries. The objective of GIIF is to promote the development of effective and sustainable markets for index-based weather and catastrophic risk (CAT) insurance primarily focusing on developing countries. At the core of the Facility is the GIIF Trust Fund (GTF) which has been created to encourage and provide development grant funding to projects contributing to achieving the objective of GIIF. GTF is an open, multi-donor funded trust fund that provide eligible recipients and beneficiaries with grants and advisory services, in accordance with its policies.

Note: Applications without a cover letter will not be considered. Cover letter should clearly describe the relevant results the candidate has delivered in prior positions and experience in this field, rather than simply listing responsibilities. All applications will be treated in the strictest confidence. Only short-listed candidates will be contacted.

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.

Duties and Accountabilities:

The Financial Sector Specialist will support the design and implementation of index and agriculture insurance advisory projects in Africa. The Financial Sector Specialist will serve as Project Lead and work closely with the Africa Region and Long Term Finance and Risk Management Global Solutions Group teams, in particular the Agriculture Finance and Disaster Risk Finance teams. The position will also include collaboration with colleagues in IFC as well as other Global Practices, in particular Agriculture and Social Urban and Rural Resilience.

The Financial Sector Specialist will perform the following functions:

• Design and manage advisory services projects, including staffing and managing teams, providing guidance and oversight, delivering outputs, and managing client relationships.

• Build and maintain strong relationships with client institutions and support with integration of best practices

• Support business development activities and recommend appropriate actions to address the business needs of existing and new clients

• Contribute to delivering targets and results for regional projects and the global GIIF program

• Coordinate closely with IBRD and IFC colleagues in Dakar to make sure that there is effective communications and coordination between the two teams

• Manage project approval processes, including IFC governance and donor governance procedures.

• Monitor project activities and budget and provide project supervision documentation on time.

• Leverage network across the World Bank Group to pursue opportunities, resolve issues and deliver results

• Contribute to key tasks/activities within the project team and ensure timely execution

• Educate clients in and outside the World Bank Group on industry trends and best practices in agricultural and index insurance.

• Develop knowledge management products and contribute to learning events (workshops, training courses, and distance-learning events).

• Provide cross-support to agriculture finance and disaster risk finance teams.

Selection Criteria:

• Master’s degree in business, economics, development finance, development, or other relevant area, with 3 to 5 years’ experience, or equivalent combination of education and experience

• Demonstrated ability to work effectively with stakeholders in government and/or the private sector.

• Strong project management skills, with ability to design and manage complex projects and achieve clear results in multicultural environments.

• Strong analytical, written and verbal communication skills in English and French.

• Ability to work in teams, as well as support the delivery of complex analytical and advisory tasks.

• Able to take self-initiative, be pro-active and work with minimal supervision

COMPETENCIES

• Operational Project Management: Demonstrates in depth knowledge and understanding of project management tools & methodologies. Knowledge of World Bank Group instruments and processes related to project preparation & implementation and resource management preferred.

• Technical Expertise: Demonstrates knowledge in index insurance, agriculture insurance, agriculture finance, and/or disaster risk finance.

• Lead and Innovate – Develops innovative solutions with others.

• Deliver Results for Clients – Achieves results and identifies mission-driven solutions for the client.

• Collaborate Within Teams and Across Boundaries – Initiates collaboration across boundaries and broadly across WBG, and brings differing ideas into the forefront.

• Create, Apply and Share Knowledge – Creates, applies and shares knowledge from across and outside WBG to strengthen internal and/or external client solutions.

• Make Smart Decisions – Recommends and takes decisive action.

The World Bank Group 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.

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