Lead Financial Officer

Lead Financial Officer

Job #:
req29499

Organization:
World Bank

Sector:
Treasury

Grade:
GH

Term Duration:
3 years 0 months

Recruitment Type:
International Recruitment

Location:
Washington, DC,United States

Required Language(s):
English

Preferred Language(s):

Closing Date:
10/15/2024 (MM/DD/YYYY) at 11:59pm UTC

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. For more information, visit www.worldbank.org

Treasury 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 and third party investors. Its activities are organized and grouped into the following departments: Capital Markets & Investment Management, Client Asset Management and Advisory, Treasury Client Solutions 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 $170 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 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).

Quantitative Solutions and Analytics team (TREQA) team serves as the focal point for quantitative, analytical, and reporting support within TRE's asset management and capital market activities. TREQA is responsible for developing and implementing quantitative models, financial solutions, and portfolio analytics. The team key expertise includes valuation of derivatives, market and credit risk, financial accounting, investment performance, and investment guideline compliance. The team also provides advisory and capacity building for central banks, sovereign wealth Funds, pension funds & strategic partners.

Duties and Accountabilities:

• As a Lead Financial Officer within TREQA, the incumbent will play a key leadership role in managing capital market analytics and guiding the development of valuation models and tools that support WBG's funding and lending activities, and roadmap initiatives.

Responsibilities include:

• Leadership in Capital Market Analytics - Provide leadership in the design, implementation, and execution of quantitative financial valuation models and tools. These models facilitate funding transactions, loan products, and financial innovations in alignment with WBG's key initiatives such as sustainability-linked loans, hybrid capital bonds, and the portfolio guarantee platform.

• Domain Expert for Valuation Models - Serve as the primary point of contact and subject matter expert on valuation models, collaborating with internal teams across vice president units (VPUs) in finance and operations, as well as internal and external auditors. Oversee activities including model selection, market data identification, and risk analysis preparation to ensure robust validation and verification processes.

• Management of Capital Market Analytics Team - Lead and manage the Capital Market Analytics (CMA) team, ensuring efficient processes for timely and accurate monthly valuations of complex liability transaction portfolios. Collaborate with model validators to resolve valuation issues related to financial reporting and other critical outputs.

• Team Development and Leadership - Provide mentorship, guidance, and constructive feedback to cultivate a high-performing, diverse, and skilled team of quantitative professionals. Foster a learning environment with ongoing professional development opportunities to ensure team members maintain up-to-date skills and knowledge.

• System Enhancements and Project Leadership - Lead the design, business requirement development, and testing of IT system enhancements for both existing and new funding transactions. Collaborate on cross-unit projects aimed at strengthening the valuation and risk infrastructure within Treasury, contributing to the software development lifecycle from requirements to user acceptance testing.

• Maintaining Market Best Practices and Thought Leadership - Stay at the forefront of market best practices in valuation and risk analytics. Conduct research and provide thought leadership to enhance the Bank's valuation and risk analytics platform when necessary.

• Stakeholder and Partnership Management - Build and maintain strong working relationships with internal and external stakeholders, including business partners, management, clients, and auditors. Foster networks with professionals in other international organizations (e.g., MDBs, UN agencies) and private sector counterparts to share knowledge, exchange best practices, and drive continuous improvement in the WBG's financial frameworks.

Selection Criteria

• A Master's or higher degree in finance, mathematics, physics, engineering, or a related quantitative field. A minimum of 10+ years of relevant experience in risk and analytics, modeling, financial engineering, and/or financial platform implementation with a focus on valuation and complex financial instruments.
• Demonstrated leadership experience in managing and developing high-performing teams, providing direction, mentorship, and fostering professional growth in diverse groups of quantitative professionals. Proven ability to lead with empathy, promote diversity, and create an inclusive environment that encourages continuous learning and innovation.
• Strong interpersonal skills with a proven ability to collaborate across teams and work effectively with colleagues, management, and staff at all levels. Ability to articulate complex technical concepts to non-technical stakeholders and facilitate organizational change by building consensus and resolving challenges.
• Hands-on expertise in Murex and/or Numerix Cross Asset, Oneview, and Template Studio is highly preferred. Experience in implementing and optimizing these platforms for risk, valuation, and financial analytics.
• Proven experience in valuing and pricing complex financial structures. In-depth knowledge of advanced econometric and financial modeling techniques, including multi-factor Monte Carlo simulations and option pricing methodologies. A strong foundation in risk management and financial engineering.
• Professional Certification in CFA, FRM, or PRM is a plus.
• Working experience with one or more of the following programming languages: VBA, Matlab, C and C++.
• Original thinking and quick learning abilities with strong initiative and drive.
• Highest ethical standards

Competencies:
• Technical expertise: Broad and deep understanding of financial markets and financial instruments.
• Communication: Able to communicate in a constructive, concise, and professional manner. Able to contribute to unit's knowledge sharing.
• Innovation: Applies critical thinking to current approaches, identifies areas for improvement, and tries new solutions that drive results. Considers own behavior in context of WBG's values and mission and recognizes impact one has on others. Operates in ambiguity and changing needs and supports others to do the same.
• Sound judgment: Able to access situation and make sound judgment on action needed.
• Teamwork: - Keeps others fully informed to ensure integration and work consistency and displays a sense of mutuality and respect. Approaches conflicts as common problems to be solved. Seeks and listens to input from others to inform own decision making and openly shares information. Frames thinking/actions with a WBG corporate perspective in mind.
• Drive for Results: Sets challenging goals that align with the WBG mission and is always looking to improve. Understands clients' most pressing challenges and contributes to solutions. Takes personal responsibility for producing high quality work, identifying and informing of risks, and delivering results for clients.

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.

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.