The Finance & Markets Global Practice aims to help countries build deep, diversified, inclusive, efficient and stable financial systems which are essential to promoting economic growth and reducing poverty and increasing shared prosperity.
The practice is committed to delivering public and private sector tailored solutions to development challenges by leveraging the whole range of the Bank Group’s financial, knowledge/advisory and convening services for clients. In doing so, the practice not only partners with the broader World Bank finance team (IFC, WB, MIGA and WB/IFC Treasuries) but also acts as an enabler for all of the other GPs and Cross-Cutting Groups.
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 groups activities 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 Improving financial infrastructure and access through its work on credit infrastructures; payment and market infrastructures; responsible financial access: and SME finance, and the third on partnering with other practices on frontier development finance initiatives such as climate change finance, disaster risk finance and insurance, infrastructure finance, agriculture finance and housing finance.
South Asia has experienced a long period of robust economic growth, averaging 6% a year over the past 20 years. This strong growth has translated into declining poverty and impressive improvements in human development. Still, the South Asia region is home to many of the developing world’s poor. According to the World Bank’s most recent poverty estimates, about 571 million people in the region survive on less than $1.25 a day, and they make up more than 44% of the developing world’s poor.
This is a challenging opportunity to work in the South Asia region. The primary focus of the work will be on Pakistan but work in other countries may also be possible depending on work program priorities.
Duties and Accountabilities:
To assist with its growing and complex work program, F&M GP seeks to hire an experienced and highly motivated professional to join in Islamabad/Karachi (final location to be determined but in any case work and travel to both these cities will be required). The person will be part of the Pakistan Country Team and will be expected to represent F&M GP in country.
Amongst other things, the candidate will be expected to:
• Lead the policy dialogue on finance and markets while actively participating and contributing to multi-sectoral teams involved in policy based operations, investment lending or ASA/AAA.
• Lead and/or support the implementation of ongoing Finance & Markets financing/lending projects and advisory services and analytics (ASAs) and develop a work program of future financing and ASAs to meet the country’s needs in line with country/regional and GP priorities. The candidate will serve as task manager for both lending and non-lending programs and contribute to the delivery and quality of financing and knowledge engagements in the region.
• Work closely with Program Leaders and CMU to ensure the integration of relevant financial sector issues in country strategy, SCDs/CPFs and work programs.
• Lead in country strategic dialogue with clients on the design of policies to promote sound, efficient and inclusive financial sectors; provide inputs to other Global Practices on financial sector related policies; build and lead teams; develop and maintain relationships with clients in government and the financial sector.
• Develop effective coordination with other Global Practices (GPs) within the Equitable Growth Finance and Institutions (EFI) Global Practice Group and other GPs and development partners.
• The candidate will be expected to mentor junior staff; lead and/or contribute to training programs.
• The candidate will produce technical notes, briefings, presentations, etc. on fields of expertise.
• The candidate will be expected to engage in business development: cultivate strategic relationships with country clients and the CMU, follow up and collaborate within F&M GP towards building multi-year country engagements.
• Knowledge Management, Teamwork and Mentoring: promote synergies across product teams, providing support through trouble shooting anticipating problems and solving them. Facilitate cross learning across projects, regions and best practices.
Desired Skills and Experience
• A Master’s degree in Finance, Economics, Management or a related field. Professional certificates in these fields would be an advantage.
• Minimum of 8 years of relevant experience including of working in the private sector/financial sector/public sector/international organizations.
• The ideal candidate will have a combination of experience both inside the World Bank Group (including experience of financing/lending projects and ASA/AAA activities and familiarity with Bank policies and procedures) and outside the World Bank Group (with financial sector institutions and/or financial regulators or financial sector policy makers).
• The ideal candidate should have strong areas of technical expertise in understanding financial markets, and have work experience from amongst central bank strengthening/financial regulation and supervision, banking reform and bank restructuring, financial infrastructure, financial inclusion, MSME and infrastructure finance, housing financing.
• Must have experience with a broad range of financial sector policy and technical issues, with a strong background in financial inclusion and/or development finance and/or financial systems issues. Experience of South Asian financial sector, in particular in Pakistan, would be required.
• Good knowledge of financial development issues and demonstrated ability to engage in a broad range of policy issues including access to finance/financial inclusion, rural finance, financial sector regulation and supervision, banking reform and restructuring, infrastructure finance, etc.
• Proven ability to be innovative and “push the boundaries” on financial sector development.
• Should be a mature professional with a demonstrated ability to mentor and incentivize teams, inspire confidence in senior country officials, and work in a culturally diverse environment.
• Possess strong client engagement skills.
• Outstanding judgment on operational, country, and practice issues. Strong results focus, with a track record of leading teams to deliver high impact projects and activities.
The World Bank Group is committed to achieving diversity in race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply.
For further details and to apply, please go to www.worldbank.org/careers and under “current job openings” seek vacancy number 160673. Deadline for applications is March 28, 2016. Apply