E T Consultant

E T Consultant

Job #:
req30266

Organization:
World Bank

Sector:
Treasury

Grade:
EC2

Term Duration:
1 year 0 months

Recruitment Type:
Local Recruitment

Location:
Washington, DC,United States

Required Language(s):
English

Preferred Language(s):

Closing Date:
11/20/2024 (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

The World Bank is one of the world's largest sources of funding and knowledge for developing countries. The World Bank works in more than 100 developing economies to improve living standards and fight poverty. For each client, the World Bank uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth, and improve quality of life. The International Bank for Reconstruction and Development is an original member of the World Bank Group and is owned by 189-member countries whose views and interests are represented by a Board of Governors and a Washington, DC-based Board of Directors. There are five World Bank Group institutions, each of which specialize in various aspects of development: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID).

The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group's funded benefit plans. Financial management includes asset management responsibilities and actuarial support. PEN manages about $40 billion US dollars invested across a range of asset classes, including fixed income, public equities, private equity, real assets, absolute return, and credit strategies. The Pension Finance Committee, appointed by the Bank Group President and chaired by the Chief Financial Officer, has oversight responsibility for the financial management of the plans. PEN's responsibilities also include the delivery of technical assistance on multi- asset class investment management to pension plans, endowments and funds for the future, and the management of the Pension Administration function. PEN identifies, selects, evaluates, and monitors investments, through outside managers, globally.

The Pension Middle Office team (PENMO) under PEN is responsible for providing a full range of functions supporting these investment activities, including the following: i) pension plan operational activities, ii) pension plans financial statements, iii) pension investment performance and attribution, iv) asset class exposure monitoring, v) investment asset pricing and valuation, and vi) third-party clients' reporting. The World Bank Group is committed to achieving diversity in terms of race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.

Duties and Accountabilities:

The candidate will have the opportunity to be involved with all aspects with respect to leading the effort in supporting the private market portfolio administration process including financial reporting, compliance, client relations, liquidity management, valuation, and reporting. The candidate will be frequently exposed to challenging topics and drive continuous improvement across all deliverables.

The primary responsibilities will include, but is not limited to, some combination of the following activities:

1.Industry Expertise and Monitoring:

• Establish and maintain working relationships with members of the external investment community, especially in areas related to private market investment due diligence and operations.

• Consistently track and monitor developments in the private market industry and share best practices.

2.Client Support

• Provide first-class support to the investment team to better understand unique requirements and develop client-specific reporting and dashboard analytics.

• Review and prepare various analyses and reports to support senior management and investment teams in their business decision making.

3.Research and Analysis:

• Perform analysis of data and research literature to drive critical conclusions and insights for senior management to support their business decision-making.

• Demonstrate research capabilities by responding quickly to requests from clients, including investment teams, and adding value and insights into various projects and transactions under consideration.

4.Operational Support and Compliance:

• Collaborate with internal teams and external service providers to ensure appropriate and industry-compliant reporting of fund investment portfolios.

• Advise on private fund operational matters inclusive of client reporting, valuations, performance measurement, and fund administration valuation process with focus on in-depth review of valuation models and processes

• Ensure private fund investment records are maintained appropriately and in compliance with industry best practices and the Plans' internal policies.

• Support internal teams working on private market investments such as legal, tax, accounting, reporting, and compliance.

• Support and attend to various tasks within a multi-asset class management business in the areas of treasury operations, accounting, management reporting, valuation control, and performance analytics, as may be assigned from time to time.

• Review monthly, quarterly, and annual financial reporting and preparation of working papers for the private investment portfolio. Manage the annual audit process for the portfolio by collaborating with internal teams.

• Implement efficiency measures for the fund investment portfolio through IT projects relating to data management and reporting automation.

5.Operational Due Diligence

• Contribute to the design, implementation, and maintenance of the overall operational due diligence framework for the review and ongoing monitoring of investments in private market funds across different strategies (i.e., Private Equity, Real Estate, Private Credit, etc.).

• Perform operational due diligence of prospective investment managers.

Selection Criteria

1.Master's degree in accounting or finance with at least 5 years' experience in middle office involved in due diligence, operations and/or research covering alternative investments (i.e., Private Equity, Real Estate, Private Credit, etc.). Candidates with CFA/FRM/CAIA will have an advantage.

2.Good quantitative and qualitative analytical skills, strong technical proficiency in Excel (including VBA and/or Office script) and programing languages such as Python/R; familiarity with Power Queries, Power Automate, interactive reporting (e.g. Power BI).

3.Excellent interpersonal skills and ability to work collaboratively with internal and external stakeholders.

4.Detail oriented and high degree of intellectual curiosity and ability to share and democratize knowledge effectively. Proficiency in data analysis and research methodologies and understanding of valuation models and financial reporting.

5.Experience with technological initiatives, IT projects and products related to investment operations and reporting.

6.High level of initiative, self-confidence, and a self-starter; ability to apply a practical matured approach to problem solving with minimum supervision.

7.Commitment to work in a respectful, team-oriented, and multi-cultural environment.

8.Willingness to travel for training and team projects, if required.

9.Highest ethical standards

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

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.

Note: The selected candidate will be offered a one-year appointment, renewable at the discretion of the World Bank Group, and subject to a lifetime maximum ET appointment of three years. If an ET appointment ends before a full year, it is considered as a full year toward the lifetime maximum. Former and current ET staff who have completed all or any portion of their third-year ET appointment are not eligible for future ET appointments.