Entry-level Financial Officers at the World Bank

The World Bank, a member of the World Bank Group, is a vital source of financial and technical assistance to developing countries around the world. Our mission is to fight poverty with passion and professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors.

The World Bank Group is launching a recruitment drive aimed at increasing the number of Sub Saharan Africans in its work force. This commitment to hire Sub Saharan Africans reflects the Bank Group's senior leadership commitment for a diverse workforce in which African nationals can play a key role in fighting poverty and increasing shared prosperity. Employment opportunities will be in various technical areas and professional streams for talented and diverse young professionals and mid-career level professionals to contribute and grow their skills in a career in international development.

A career with the World Bank Group offers a unique opportunity for exceptionally talented individuals with a passion for international development to contribute to solving some of the world&'s most pressing problems. Bank staff work with governments, civil society groups, the private sector, and others in developing countries around the world, assisting people in all areas of development, from policy and strategic advice to the identification, preparation, appraisal, and supervision of development projects.

We are recruiting to fill the below position:

Job Title: Financial Officer

Job #: 151365
Location: Washington, DC
Area: Finance / Risk Management
Recruitment Type: International Hire
Grade: GF

Background / General Description

• The Chief Risk Officer (CRO) Vice Presidency of the World Bank is the core unit responsible for institutional risk oversight, including establishment and monitoring adherence to risk policies and guidelines and risk assessment and reporting to the Board and executive management.

The Market & Counterparty Risk Directorate focuses on oversight of risk in two areas:

• Market Risk, which covers ALM, interest rate, spread (funding and investments) and FX risk, and the availability/cost of or access to ready liquidity and long-term funding, and
• Commercial (i.e. not sovereign lending) Credit Risk, which includes risks to IBRD resulting from changes in creditworthiness of IBRD's commercial counterparties.

Responsibilities for both areas focus on three sub-functions:

• Risk Control Guidelines: Establishing and maintaining robust risk control guidelines (including setting limits) governing IBRD's investment management, borrowings and derivatives, consistent with the institution's financial policies and risk tolerances;
• Risk Monitoring and Compliance: Identifying and measuring IBRD's market and counterparty risks; Assessing risk associated with new strategies, initiatives and transactions; Ensuring compliance with financial policies and risk control guidelines; Managing the process of resolving exceptions where required
• Reporting: Providing executive management and the Board with regular risk oversight reports. Providing the enterprise's thought leadership on risk issues and relevant industry, regulatory and legal developments.

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.
• 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.
• The CROVPU endeavors to foster an inclusive environment in which the unique skills, experiences, and backgrounds of CRO's staff are valued, respected and leveraged. We value diversity in the workplace and recognize that it is critical to our success as a group.

Duties and Accountabilities
The Financial Officer’s responsibilities will include, but are not limited to, the following:

• Development, and implementation of quantitative financial models and tools for the risk analysis and oversight of IBRD's market and commercial counterparty risks, including identification of modeling approach, inputs and assumptions.
• Identify and apply market standard approaches to modeling in the areas of regulatory and economic capital, valuation, CVA/PFE, scenario and stress testing, Value at Risk, risk and performance attribution and risk/reward optimization; maintain up-to-date knowledge and skills in these areas.
• Conduct quantitative financial analyses of market risks (including ALM, liquidity, FX); domains include full balance sheet analysis, portfolio and security analysis (including new business opportunities) covering a range of financial instruments including highly customized OTC non-financial index linked structures, and insurance-like instruments linked to weather, catastrophe, carbon, and longevity variables, sovereign debt, commodities, equities and the full spectrum of fixed income securities
• Engage, and collaborate with various internal units (Model validation, Treasury) on development implementation and socialization of new models and frameworks
• Support development and implementation of new management metrics and risk presentation material to the Board and MD CFO. Produce regular reports of risk indicators
• Perform ad hoc quantitative analyses as request by Senior Management and the Board to support CFRMC's mission and responsibilities

Selection Criteria
Requirements:

• Advanced degree preferably in Finance, Mathematics or Engineering and 5 years relevant work experience in finance and investments (with focus on risk management, financial modeling or quantitative research);
• Proven quantitative and qualitative analytical skills in the area of Capital/VaR analysis, credit risk modeling, scenario/stress testing, valuing/pricing of complex structures; including in depth knowledge of econometric and financial modeling techniques, multi-factor Monte Carlo simulation techniques and option pricing methodologies; interest rate generation, volatility modeling and complex statistical analysis
• Ability to develop models and conduct analyses effectively under tight deadlines
• Working experience with one or more of the following programming languages VBA, SQL, Matlab, SAS, C and C++; Advanced Excel skills
• Experience with capital markets, market conventions, and market data manipulations;
• Strong theoretical and practical experience with derivative instruments;
• Familiarity with Basel and other relevant external standards is a plus
• Original thinking and quick learning abilities with strong initiative and drive;
• Highest ethical standards.

Competencies:

• Technical Writing and Presenting - Knows the audience's knowledge of the subject, needs and concerns, and is able to choose the most appropriate medium and to structure the messaging properly.
• Financial Risk Analysis & Modeling - Demonstrates in-depth proficiency level sufficient to recommend potential solutions to mitigate currency, price factor or interest rate risks.
• Capital Markets Financial Literacy - Reads, analyzes, and can compile financial statements of other financial documents and can assist, consult or lead others.
• Client Orientation - Maintains client relationships in the face of conflicting demands or directions and provides evidence-based advice and solutions based on sound diagnosis and knowledge.
• Drive for Results - Identifies the needed resources to accomplish results involving multiple stakeholders and finds solutions to obstacles affecting key deliverables.
• Teamwork (Collaboration) and Inclusion - Shows leadership in ensuring the team stays organized and focused, and actively seeks and considers diverse ideas and approaches.
• Knowledge, Learning and Communication - Leads in the sharing of best practice, trends, knowledge and lessons learned across units and with clients and partners, articulating ideas verbally and in writing in a clear and compelling way across audiences of varied levels.
• Business Judgment and Analytical Decision Making - Gathers inputs, assesses risk, considers impact and articulates benefits of decisions for internal and external stakeholders over the long term.

Application Closing Date
30th July, 2015.

How to Apply
Interested and qualified candidates should:
Click here to apply online

If you are interested in this position, please click the link above to submit your application. You will be prompted to log in to the "Member Center" or "Create a New Account". Please fill in all fields, answer the screening questions if any, attach your resume or CV, and submit your Statement of Interest (no more than 700 words).

Note

• A select number of candidates will be interviewed in September and October 2015 in Washington, D.C. and locations in Africa and Europe.
• Those applications that were not selected for interview during this campaign will be kept on file for up to one year and may be considered for future opportunities.
• Please note that only shortlisted candidates will be contacted.