Principal Investment Officer
Apply NowCompany: The World Bank Group
Location: Washington, DC 20011
Description:
Principal Investment Officer
Job #:
req31722
Organization:
MIGA
Sector:
Other
Grade:
GH
Term Duration:
4 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Preferred Language(s):
Closing Date:
3/5/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
The World Bank's mission is to end extreme poverty and boost shared prosperity on a livable planet. The World Bank Group consists of five institutions that specialize in different 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 the Settlement of Investment Disputes (ICSID). The World Bank Group is one of the world's largest sources of development assistance and knowledge for developing countries.
In pursuit of their mission, the Bank works in more than 100 developing economies to supporting government agencies, nongovernmental organizations, and the private sector in pursuit of our members' development agendas. A network of offices worldwide delivers the Bank's programs in countries, liaises with government and civil society, and works to increase understanding of development issues. The World Bank is owned by 189 member countries whose views and interests are represented by a Board of Governors and a Washington, DC-based Board of Executive Directors.
The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group with a mission to promote foreign direct investment into developing countries to help end extreme poverty and boost shared prosperity on a livable planet. MIGA houses the World Bank Group (WBG) guarantee platform which brings together products and experts from the World Bank, International Finance Corporation (IFC), and MIGA for simplicity, efficiency, and speed.
MIGA serves as a one-stop shop for all WBG guarantee business, providing the best guarantee solutions for clients to meet project needs and development priorities. The platform provides three types of coverages: credit guarantees for loans to the public or private sector; trade finance guarantees for trade finance projects involving public entities; and political risk insurance against non-commercial risks for private sector projects or public-private partnerships.
For additional information, please visit http://www.worldbank.org and www.miga.org.
GENERAL DESCRIPTION AND HIRING UNIT
MIGFR is looking for a Principal Investment Officer to lead MIGA's $2.5bn Investments portfolio. The role will be reporting to the MIGFR Director.
The Finance and Risk Management Group (MIGFR) is responsible for ensuring MIGA's financial integrity, income sustainability, and balance sheet optimization. We achieve this through the management and oversight of MIGA's accounting, financial reporting and control function, investment management and cost efficiency optimization, related portfolio risk management, SOE counterparty risk assessment, reinsurance and syndications program, budget, and information technology strategy and plans, and systems.
RESPONSIBILITIES
The Principal Investment Officer will oversee and manage the Agency's Investment portfolio, ensuring sufficient liquidity to meet unanticipated claims and optimizing the risk and return profile to enhance MIGA's capital base. She or he will report to the MIGFR Director. Key responsibilities will include:
Selection Criteria
The successful candidate should be recognized and respected widely through their intellectual leadership, sound reputation and proven track record as a problem-solver, and accomplishments.
The ideal candidate will possess as many of the following professional and personal characteristics as possible:
Experience working with the insurance industry, pension funds, multilaterals or central banks is preferred but not required.
In addition, the candidate is expected to confirm that no significant personal conflict of interest would arise out of performing the role of Principal Investment Officer for MIGA.
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.
Job #:
req31722
Organization:
MIGA
Sector:
Other
Grade:
GH
Term Duration:
4 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Preferred Language(s):
Closing Date:
3/5/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
The World Bank's mission is to end extreme poverty and boost shared prosperity on a livable planet. The World Bank Group consists of five institutions that specialize in different 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 the Settlement of Investment Disputes (ICSID). The World Bank Group is one of the world's largest sources of development assistance and knowledge for developing countries.
In pursuit of their mission, the Bank works in more than 100 developing economies to supporting government agencies, nongovernmental organizations, and the private sector in pursuit of our members' development agendas. A network of offices worldwide delivers the Bank's programs in countries, liaises with government and civil society, and works to increase understanding of development issues. The World Bank is owned by 189 member countries whose views and interests are represented by a Board of Governors and a Washington, DC-based Board of Executive Directors.
The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group with a mission to promote foreign direct investment into developing countries to help end extreme poverty and boost shared prosperity on a livable planet. MIGA houses the World Bank Group (WBG) guarantee platform which brings together products and experts from the World Bank, International Finance Corporation (IFC), and MIGA for simplicity, efficiency, and speed.
MIGA serves as a one-stop shop for all WBG guarantee business, providing the best guarantee solutions for clients to meet project needs and development priorities. The platform provides three types of coverages: credit guarantees for loans to the public or private sector; trade finance guarantees for trade finance projects involving public entities; and political risk insurance against non-commercial risks for private sector projects or public-private partnerships.
For additional information, please visit http://www.worldbank.org and www.miga.org.
GENERAL DESCRIPTION AND HIRING UNIT
MIGFR is looking for a Principal Investment Officer to lead MIGA's $2.5bn Investments portfolio. The role will be reporting to the MIGFR Director.
The Finance and Risk Management Group (MIGFR) is responsible for ensuring MIGA's financial integrity, income sustainability, and balance sheet optimization. We achieve this through the management and oversight of MIGA's accounting, financial reporting and control function, investment management and cost efficiency optimization, related portfolio risk management, SOE counterparty risk assessment, reinsurance and syndications program, budget, and information technology strategy and plans, and systems.
RESPONSIBILITIES
The Principal Investment Officer will oversee and manage the Agency's Investment portfolio, ensuring sufficient liquidity to meet unanticipated claims and optimizing the risk and return profile to enhance MIGA's capital base. She or he will report to the MIGFR Director. Key responsibilities will include:
- Provide strategic direction and oversight for the development and execution of the Agency's Strategic Asset Allocation (SAA) over a three to five-year horizon, ensuring that the SAA aligns with Board approved General Investment Authorization.
- Guide the Agency in any Tactical Asset Allocation (TAA) adjustments to capture market opportunities or mitigate losses, ensuring a return to the approved SAA once conditions stabilize.
- Collaborate with senior management to set and review the risk appetite, ensuring it aligns with the Agency's strategic objectives and financial goals.
- Oversee the day-to-day operations of the investment portfolio, ensuring alignment with the approved investment guidelines and risk parameters.
- Oversee the management of relationships with the World Bank Treasury as MIGA's asset manager and with external asset managers, as may be required.
- Supervise the RFP process and selection of external asset managers, where required, including the execution of ancillary agreements related to the management of MIGA's Investment Portfolio, including custody, derivatives arrangements, and shared-service agreements.
- Monitor and manage the risk exposures of the investment portfolio, ensuring compliance with the established risk tolerance levels.
- Ensure all investment activities comply with internal policies, regulatory requirements, and industry best practices.
- Prepare and present regular investment performance reports to senior management and relevant committees.
- Stay updated on market trends, economic developments, and regulatory changes that may impact the investment portfolio.
- Recommend updates to MIGA's investment guidelines and objectives as necessary to adapt to changing market conditions and strategic objectives.
- Mentor team members and provide intellectual and technical guidance to other specialists.
- As needed, represent MIGA at a Senior level in various fora, including but not limited to, technical conferences and workshops, stakeholders' meetings, industry events and others.
Selection Criteria
The successful candidate should be recognized and respected widely through their intellectual leadership, sound reputation and proven track record as a problem-solver, and accomplishments.
The ideal candidate will possess as many of the following professional and personal characteristics as possible:
- Master's degree and 12 years of experience OR Bachelor's degree and 15 years of experience in investments with at least 5 years in a senior role.
- Knowledge of asset allocation, portfolio risk and manager selection for complex portfolios.
- Knowledge across asset classes, with experience in asset allocation, portfolio risk and manager selection for investment portfolios. Expertise in integrating Asset Liability Management (ALM) concepts and setting risk tolerance levels for investment portfolios.
- An understanding of global and domestic macroeconomics and capital market issues relating to investments.
- Proven ability to influence multiple stakeholders in determining strategic positioning of an investment portfolio intended to meet organizational objectives.
- Understanding of liquidity management, risk optimization, and both strategic and tactical asset allocation.
- Experience in managing relationships with asset managers, conducting RFP processes and monitoring investment performance.
- Strong ability to nurture and maintain relationships and communications with critical stakeholders.
- Demonstrated ability to think strategically and rapidly analyze diverse information from varied sources.
- Hands-on approach with the ability to manage multiple tasks in a small team setting.
- Excellent communication skills both written and oral, including the ability to convey ideas and positions clearly and persuasively.
- Excellent interpersonal skills, with the ability to establish and develop relationships.
- Leadership, coaching and mentoring skills.
- Highest standards of ethical integrity and transparency.
Experience working with the insurance industry, pension funds, multilaterals or central banks is preferred but not required.
In addition, the candidate is expected to confirm that no significant personal conflict of interest would arise out of performing the role of Principal Investment Officer for MIGA.
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.