Senior Financial Officer
Apply NowCompany: The World Bank Group
Location: Washington, DC 20011
Description:
Senior Financial Officer
Job #:
req32338
Organization:
World Bank
Sector:
Risk
Grade:
GG
Term Duration:
4 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Preferred Language(s):
Closing Date:
4/2/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
Do you want to build a career that is truly worthwhile? 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 and promoting shared prosperity. 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 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. Its mission is to enable and support the institution to achieve its goals in a financially sustainable manner. The VPU assists management with identifying and managing group-wide cross-cutting risks, enhancing risk response decisions, reducing financial and operational surprises and losses, seizing opportunities and improving deployment of capital. The CRO Vice Presidency comprises three Departments: 1) Credit Risk (CROCR); 2) Market & Counterparty Risk (CROMC), and 3) Operational Risk (CROOR).
The Credit Risk Department (CROCR) ensures that the Bank's credit risk exposure is commensurate with the risk appetite of stakeholders and triple-A rating requirements and strikes the appropriate balance between financial and development objectives. CROCR manages the credit risk inherent in IBRD and IDA's loan and guarantee portfolio. The Department consists of two teams - the Sovereign Risk Team that assesses and monitors individual country credit risk and overall global and regional development that affects IBRD and IDA countries' credit risks; the Portfolio Risk Team that is responsible for assessing and managing IIBRD and IDA portfolio and balance sheet risks, including stress testing, loan loss provisioning, and capital adequacy; and develops risk-transfer mechanisms to mitigate risks on IBRD and IDA's balance sheet and frees up capital for additional lending. This position will be in the Portfolio Risk Team.
Responsibilities
The selected candidate will be a senior member of the Portfolio Risk Team within CROCR reporting to the Manager, Portfolio Risk. His/Her main duties will include:
Contribute to/Lead the Department's work program in the area of loan loss provisioning and credit and portfolio risk modeling and measurement, including the design and development of new credit risk measurement and management frameworks and models, and the use, maintenance and periodic recalibration of existing models.
Contribute to/Lead the team's responsibilities for IBRD's Country Exposure Management Framework, including regular exposure limits update and assessing country limits reallocation requests.
Contribute to/Lead the development of innovative risk transfer instruments, including providing capital adequacy impact assessment of new innovative financing structures.
Contribute to the Department's work program in the area of exposure and portfolio projections as part of the corporate lending projections exercise and on an as-needed-basis.
Contribute to the Department's work program on assessing Rating Agency Frameworks and related developments as applied to the World Bank.
Provide inputs, including data, financial analysis and write-ups, for CROCR's periodic reporting deliverables, including annual Board papers, contributions to the WBG Quarterly Business and Risk Review, to IDA's and IBRD's quarterly financial statements and other deliverables.
Conduct other financial and risk-related quantitative analytics and modeling as needed, including using applied statistics and econometrics.
Selection Criteria
Characteristics of the Successful Candidate
- Master's degree in Finance, Risk Management, Business Administration, Economics, or other relevant field, with a minimum of 8 years of directly relevant professional experience.
- Strong modeling, data analysis and mathematical skills demonstrated ideally in designing/working on capital adequacy/VaR models and/or fixed income risk.
- Strong programming skills in any general-purpose programming language (i.e., C++, C#, Python, Matlab) would be viewed favorably.
- Professional designations such as CFA, FRM, etc., would be viewed favorably,
- Enjoys working in a high-performing team with collective responsibility and a high value placed on teamwork
- Ability to multitask, set priorities and communicate well, including with colleagues on timelines, constraints and deliverables
- Personal initiative and proven ability to lead tasks autonomously; strong drive for results
- Outstanding communication skills, both written and oral, with ability to communicate complex issues in a clear and concise manner. Strong ability to write succinct memos and effective presentations.
- Strong interpersonal, diplomatic and partnership skills. Ability to build and maintain collaborative relationship across organizational boundaries.
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 #:
req32338
Organization:
World Bank
Sector:
Risk
Grade:
GG
Term Duration:
4 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Preferred Language(s):
Closing Date:
4/2/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
Do you want to build a career that is truly worthwhile? 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 and promoting shared prosperity. 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 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. Its mission is to enable and support the institution to achieve its goals in a financially sustainable manner. The VPU assists management with identifying and managing group-wide cross-cutting risks, enhancing risk response decisions, reducing financial and operational surprises and losses, seizing opportunities and improving deployment of capital. The CRO Vice Presidency comprises three Departments: 1) Credit Risk (CROCR); 2) Market & Counterparty Risk (CROMC), and 3) Operational Risk (CROOR).
The Credit Risk Department (CROCR) ensures that the Bank's credit risk exposure is commensurate with the risk appetite of stakeholders and triple-A rating requirements and strikes the appropriate balance between financial and development objectives. CROCR manages the credit risk inherent in IBRD and IDA's loan and guarantee portfolio. The Department consists of two teams - the Sovereign Risk Team that assesses and monitors individual country credit risk and overall global and regional development that affects IBRD and IDA countries' credit risks; the Portfolio Risk Team that is responsible for assessing and managing IIBRD and IDA portfolio and balance sheet risks, including stress testing, loan loss provisioning, and capital adequacy; and develops risk-transfer mechanisms to mitigate risks on IBRD and IDA's balance sheet and frees up capital for additional lending. This position will be in the Portfolio Risk Team.
Responsibilities
The selected candidate will be a senior member of the Portfolio Risk Team within CROCR reporting to the Manager, Portfolio Risk. His/Her main duties will include:
Contribute to/Lead the Department's work program in the area of loan loss provisioning and credit and portfolio risk modeling and measurement, including the design and development of new credit risk measurement and management frameworks and models, and the use, maintenance and periodic recalibration of existing models.
Contribute to/Lead the team's responsibilities for IBRD's Country Exposure Management Framework, including regular exposure limits update and assessing country limits reallocation requests.
Contribute to/Lead the development of innovative risk transfer instruments, including providing capital adequacy impact assessment of new innovative financing structures.
Contribute to the Department's work program in the area of exposure and portfolio projections as part of the corporate lending projections exercise and on an as-needed-basis.
Contribute to the Department's work program on assessing Rating Agency Frameworks and related developments as applied to the World Bank.
Provide inputs, including data, financial analysis and write-ups, for CROCR's periodic reporting deliverables, including annual Board papers, contributions to the WBG Quarterly Business and Risk Review, to IDA's and IBRD's quarterly financial statements and other deliverables.
Conduct other financial and risk-related quantitative analytics and modeling as needed, including using applied statistics and econometrics.
Selection Criteria
Characteristics of the Successful Candidate
- Master's degree in Finance, Risk Management, Business Administration, Economics, or other relevant field, with a minimum of 8 years of directly relevant professional experience.
- Strong modeling, data analysis and mathematical skills demonstrated ideally in designing/working on capital adequacy/VaR models and/or fixed income risk.
- Strong programming skills in any general-purpose programming language (i.e., C++, C#, Python, Matlab) would be viewed favorably.
- Professional designations such as CFA, FRM, etc., would be viewed favorably,
- Enjoys working in a high-performing team with collective responsibility and a high value placed on teamwork
- Ability to multitask, set priorities and communicate well, including with colleagues on timelines, constraints and deliverables
- Personal initiative and proven ability to lead tasks autonomously; strong drive for results
- Outstanding communication skills, both written and oral, with ability to communicate complex issues in a clear and concise manner. Strong ability to write succinct memos and effective presentations.
- Strong interpersonal, diplomatic and partnership skills. Ability to build and maintain collaborative relationship across organizational boundaries.
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.