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Senior Business Development Officer

Employer
World Bank Group
Location
Dubai, United Arab Emirates
Salary
Competitive
Closing date
May 3, 2024

View more

Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Senior Business Development Officer

Job #:
req27083

Organization:
MIGA

Sector:
Other

Grade:
GG

Term Duration:
4 years 0 months

Recruitment Type:
International Recruitment

Location:
Dubai,United Arab Emirates

Required Language(s):
English, Arabic

Preferred Language(s):

Closing Date:
4/29/2024 (MM/DD/YYYY) at 11:59pm UTC

Description

The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group, and our mission is to promote foreign direct investment into developing countries to help end extreme poverty and boost share prosperity. We do that through the provision of political risk insurance and credit enhancement to investors and lenders against losses caused by noncommercial risks. For more information, visit www.miga.org.

Recognizing the need for MIGA to be closer to prospective new clients, MIGA established its Middle East Hub (a small team) in West Bank & Gaza based in Jerusalem, empowered to originate new business opportunities for MIGA in Middle East and Egypt in support of MIGA's focus areas. The presence of staff in the region helps MIGA to work more effectively with Middle East and Egypt based clients and allows MIGA to actively participate in regional markets and benefit from the strength of outbound and inbound investments. It also offers a chance to build on the growing interest of investors looking for opportunities in emerging markets.

MIGA's Operations unit (MIGOP) is now expanding its Middle East Hub by opening an office in Dubai, United Arab Emirates and is seeking a Senior Business Development Officer with extensive political risk underwriting, new business origination, and client relationship management experience, to head the Middle East & Egypt region (MEE) in identifying new business opportunities, achieving business targets, and growing MIGA's guarantee business. The position will be based in Dubai and supervised by the Director, Operations.

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.

Duties and Accountabilities
  • Contribute to the development of action plans and workstreams to implement MIGA's guarantee business and targets with a focus on origination, product development, deal execution and innovation;
  • Identify new business opportunities for MIGA in MEE including using various trust funds among other business development tools;
  • Provide a specialized focus on business development and origination in FCS countries in MEE and develop and implement strategies for sub-sectors and priority areas such as climate mitigation;
  • Work with sector managers, Underwriters and project and portfolio teams to facilitate project analysis and provide political risk insurance underwriting and business origination work, including quality control;
  • Conduct project due diligence that includes evaluating financing structure of projects as well as reviewing legal documents and financial models;
  • Ensure consistency of MIGA's guarantees with WBG Country Partnership Framework and assess project's risks in view of MIGA's standards;
  • Meet with prospective clients to market MIGA's guarantee products as well as with MIGA partners to better understand the market for PRI in priority areas;
  • Develop client/ project leads; guide clients through the application process; structure project deals and transactions, provide high-level client relationship management; working with MIGA underwriters as needed when a new application is received to facilitate the underwriting of a transaction and to ensure excellent client service; developing and maintaining partnerships with regional DFIs and other like-minded institutions involved in foreign investment in MEE;
  • Manage relationships with Host Government and Host Government Officials in countries identified as MIGA's priority markets;
  • Represent MIGA at high-level conferences or other events where MIGA desires to market its services and products; overseeing sponsorship at such events where needed;
  • Collaborate with other units within MIGA, IFC, and the WBG to deliver high level business results, with a particular focus on WB/IFC regional staff;
  • Mentor/supervise junior underwriters, analysts and other staff to develop their professional and technical expertise;
  • Share knowledge and expertise and develop MIGA's marketing materials for projects;
  • Frequent travel is required to follow up on project opportunities that are likely to result in new business for MIGA.

Selection Criteria

  • Master's degree in international Business, Finance, Economics, or related field plus a minimum of 8 years of direct relevant experience in political risk underwriting, project finance or private sector work in emerging markets;
  • Experience working with MIGA is desirable;
  • Extensive knowledge of emerging markets finance and economic development as well as an understanding of issues related to investment insurance and foreign direct investments in emerging markets;
  • Sound financial analysis skills, including experience analyzing and structuring projects;
  • Demonstrated high level technical underwriting skills, and proven track record in handling complex project risk underwriting and/or project and corporate finance;
  • Demonstrated high-level understanding of political / sovereign risk guarantee products, and their application in the project and export finance banking fields;
  • Experience in working across boundaries; and in joint project ventures with key multilateral and bilateral institutions;
  • Strong client orientation, diplomatic skills, as well as sensitivity to social and cultural issues as they affect multilateral risk mitigation and investors going into developing countries;
  • Proven track record in delivering high quality work results;
  • Experience in guiding, mentoring and coaching staff on technical and business issues;
  • Outstanding communication skills; able to make persuasive oral and written presentations;
  • High degree of discretion, ethics, tack, and sensitivity in handling confidential and sensitive information; ability to maintain high standard of personal integrity;
  • Language requirements: English and Arabic (required).

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.

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