Senior Financial Specialist
Apply NowCompany: The World Bank Group
Location: Washington, DC 20011
Description:
Senior Financial Specialist
Job #:
req32076
Organization:
World Bank
Sector:
Infrastructure
Grade:
GG
Term Duration:
3 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States or Abu Dhabi, UAE
Required Language(s):
English
Preferred Language(s):
Arabic, French, Russian, Spanish
Closing Date:
3/14/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
Do you want to build a career that is truly worthwhile? Working at the World Bank provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank consists of two entities - the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). It is a global development cooperative owned by 189 member countries. As the largest development bank in the world, the World Bank provides loans, guarantees, risk management products, and advisory services to middle-income and creditworthy low-income countries, and coordinates responses to regional and global challenges. For more information, please visit www.worldbank.org
Infrastructure Vice Presidency
Globally, one billion people live more than 2 kilometers from all-weather roads, 685 million people lack electricity, and nearly 4 billion people lack internet access. Access to basic infrastructure services is critical for creating economic opportunities for the poor. The Infrastructure (INF) Vice Presidency within the World Bank is charged with developing sustainable solutions to help close infrastructure gaps in developing and emerging economies. It currently consists of four global departments: Energy & Extractives (EEX); Transport (TRA); Urban, Resilience and Land (URL), and Global Infrastructure Finance Department. It oversees the Bank's work across energy and transport sectors, urban development, as well as efforts to promote energy transition, low-carbon transportation, livable cities, disaster risk resilience, land management, and quality infrastructure services through public-private partnerships. Infrastructure represents around $110 billion of the Bank's portfolio. For more information: https://www.worldbank.org/en/topic/infrastructure
The Global Flaring and Methane Reduction (GFMR) Partnership
Launched at COP28 in Dubai in 2023, GFMR is a unit within the Energy & Extractives Global Department. Its mission is to boost global efforts to end routine gas flaring and reduce methane emissions along the entire oil and gas value chain. GFMR executes on its mission by providing grant funding and technical assistance, enabling policy reform and institutional strengthening, and mobilizing financing to support governments and state-owned operators to detect and abate routine gas flaring and methane emissions.
To help implement its strategy, GFMR is recruiting a Senior Financial Specialist (the "Specialist") as a GFMR core team member based in Abu Dhabi, UAE or the World Bank's headquarters in Washington, DC.
Job Duties and Responsibilities:
The Specialist will provide strategic and thought leadership on the implementation of GFMR's finance strategy, working in close cooperation with GFMR's Program Manager, staff and consultants. The Specialist's responsibilities include:
Contributing to the screening and selection of projects to be supported by GFMR, providing experienced industry and finance expertise to GFMR staff members who lead pipeline and project development efforts in their respective regions. The Specialist's advice will help GFMR select projects to be supported through pre-feasibility studies as well as direct grants, in compliance with the selection and eligibility criteria.
Providing guidance and advice on the financial aspects of project pre-feasibility studies, reviewing relevant project documentation, participating in meetings with relevant project stakeholders and providing insights to GFMR staff on core financial due diligence aspects such as:
a)robustness of financial projections,
b)determination of optimal capital structure,
c)risk analysis,
d)applicability of potential de-risking solutions (e.g., guarantees, insurance for political risk or breach of contract), and
e)typology of capital providers most suitable to the project.
Providing guidance and advice on the negotiation of grant terms with state-owned entities and other recipients, taking into consideration also additional sources of commercial and concessional capital available for the project.
Providing strategic leadership and guidance for the mobilization of commercial and concessional capital for GFMR-supported projects. The Specialist will:
a)Establish and maintain ongoing relationships with a range of commercial capital providers, including international and domestic banks, private capital funds (equity, credit and infrastructure), development finance institutions, pension funds and other institutional investors, carbon credit investors, and oil and gas equipment suppliers that offer financing solutions.
b)Establish and maintain ongoing relationships with a range of concessional and public capital providers, including multilateral and regional development banks, bilateral development agencies, impact and philanthropic capital, sovereign wealth funds and other government-backed funds.
c)Play an active role with capital providers in the Middle East and North Africa (MENA) region, including but not limited to national oil companies, sovereign wealth funds, regional banks and regional investors.
Explore partnerships and specific project co-finance opportunities that reflect the above capital providers' strategic priorities, financial tools, capital availability, risk/return requirements, technical capacities and other relevant factors.
Provide industry, finance and geopolitical insights for project implementation in the Middle East and North Africa (MENA) region.
Brief the GFMR Program Manager, Steering Committee and other senior World Bank officials (as needed) on progress towards the implementation of GFMR's finance strategy.
Participate in financial and oil & gas industry forums, seminars and other initiatives that aim to mobilize capital and promote standards, criteria and innovative structures for the financing of flaring and methane abatement.
Contribute to GFMR knowledge-sharing initiatives with a focus on flaring and methane abatement financing, including by: (i) providing input and advice on the production and publication of financing case studies for flare and methane abatement, or other similar financial studies and reports; (ii) participating in workshops and webinars with financial and industry players; and (iii) sharing of GFMR's evidence and best practices at financial and industry events.
Other tasks agreed with the GFMR Program Manager, consistent with the Specialist's areas of expertise and time allocation.
The Specialist will be based in either the World Bank's office in Abu Dhabi, UAE or World Bank headquarters in Washington, DC and report to GFMR's Program Manager, who is also based in Washington, DC.
International and domestic travel is expected for business needs and as requested by GFMR's Program Manager.
Selection Criteria
This role requires a significant amount of leadership and autonomy, as demonstrated by at least 8 years of cumulative experience across one or more of the following areas:
Project and corporate finance and capital markets, with a focus on the oil and gas and infrastructure sectors. The candidate will have a solid understanding of capital structures and of different financial instruments (equity, corporate or project loans, corporate or project bonds) and their terms and conditions, familiarity and ability to interact at a senior level with different providers of such financial instruments, and a knowledge of their financing processes (e.g., direct lending, loan syndication, bond issuance, private equity investments). Experience may have been acquired through senior roles at commercial or investment banks, investment funds, such as private infrastructure/equity/credit funds, institutional investors, sovereign wealth funds or other players in the financial services industry.
Oil and gas project development and financing. Experience may have been acquired through senior roles at oil companies; energy and oil ministries or similar government entities; oil service providers; engineering firms; consulting firms and oil and gas equipment providers; investment banks; and international institutions such as development banks, among other entities. Experience in flaring and methane abatement projects is a significant plus, although not a strict requirement, considering this is a relatively new area of financing.
Sustainable finance. The candidate will be familiar with the themes, trends, advocacy and policy initiatives concerning sustainable finance, such as the development of the green and sustainable bond markets, the Paris Agreement and alignment, transition finance and constraints of various finance industry players concerning the financing of upstream oil and gas activities. Such experience may have been acquired through roles in international finance institutions, finance industry organizations, sustainable finance departments of financial services providers and investors, advocacy organizations and think tanks, and participations in sustainable finance events, forums and similar initiatives.
Involvement in publications on sustainable finance and methane/flare abatement finance, as an author or contributor, is a plus.
Experience working in developing countries, in any of the above capacities and in particular in oil and gas project development and financing, is a significant plus.
The candidate must be fluent in English, oral and written; working knowledge of Arabic, French, Russian or Spanish is a significant plus.
A Masters' or PhD in Business Administration, Economics, Finance, Public Policy/Administration or similar field from an internationally recognized academic institution is required.
The candidate should have a strong track record of teamwork in a diverse and collaborative environment.
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 #:
req32076
Organization:
World Bank
Sector:
Infrastructure
Grade:
GG
Term Duration:
3 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States or Abu Dhabi, UAE
Required Language(s):
English
Preferred Language(s):
Arabic, French, Russian, Spanish
Closing Date:
3/14/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
Do you want to build a career that is truly worthwhile? Working at the World Bank provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank consists of two entities - the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). It is a global development cooperative owned by 189 member countries. As the largest development bank in the world, the World Bank provides loans, guarantees, risk management products, and advisory services to middle-income and creditworthy low-income countries, and coordinates responses to regional and global challenges. For more information, please visit www.worldbank.org
Infrastructure Vice Presidency
Globally, one billion people live more than 2 kilometers from all-weather roads, 685 million people lack electricity, and nearly 4 billion people lack internet access. Access to basic infrastructure services is critical for creating economic opportunities for the poor. The Infrastructure (INF) Vice Presidency within the World Bank is charged with developing sustainable solutions to help close infrastructure gaps in developing and emerging economies. It currently consists of four global departments: Energy & Extractives (EEX); Transport (TRA); Urban, Resilience and Land (URL), and Global Infrastructure Finance Department. It oversees the Bank's work across energy and transport sectors, urban development, as well as efforts to promote energy transition, low-carbon transportation, livable cities, disaster risk resilience, land management, and quality infrastructure services through public-private partnerships. Infrastructure represents around $110 billion of the Bank's portfolio. For more information: https://www.worldbank.org/en/topic/infrastructure
The Global Flaring and Methane Reduction (GFMR) Partnership
Launched at COP28 in Dubai in 2023, GFMR is a unit within the Energy & Extractives Global Department. Its mission is to boost global efforts to end routine gas flaring and reduce methane emissions along the entire oil and gas value chain. GFMR executes on its mission by providing grant funding and technical assistance, enabling policy reform and institutional strengthening, and mobilizing financing to support governments and state-owned operators to detect and abate routine gas flaring and methane emissions.
To help implement its strategy, GFMR is recruiting a Senior Financial Specialist (the "Specialist") as a GFMR core team member based in Abu Dhabi, UAE or the World Bank's headquarters in Washington, DC.
Job Duties and Responsibilities:
The Specialist will provide strategic and thought leadership on the implementation of GFMR's finance strategy, working in close cooperation with GFMR's Program Manager, staff and consultants. The Specialist's responsibilities include:
Contributing to the screening and selection of projects to be supported by GFMR, providing experienced industry and finance expertise to GFMR staff members who lead pipeline and project development efforts in their respective regions. The Specialist's advice will help GFMR select projects to be supported through pre-feasibility studies as well as direct grants, in compliance with the selection and eligibility criteria.
Providing guidance and advice on the financial aspects of project pre-feasibility studies, reviewing relevant project documentation, participating in meetings with relevant project stakeholders and providing insights to GFMR staff on core financial due diligence aspects such as:
a)robustness of financial projections,
b)determination of optimal capital structure,
c)risk analysis,
d)applicability of potential de-risking solutions (e.g., guarantees, insurance for political risk or breach of contract), and
e)typology of capital providers most suitable to the project.
Providing guidance and advice on the negotiation of grant terms with state-owned entities and other recipients, taking into consideration also additional sources of commercial and concessional capital available for the project.
Providing strategic leadership and guidance for the mobilization of commercial and concessional capital for GFMR-supported projects. The Specialist will:
a)Establish and maintain ongoing relationships with a range of commercial capital providers, including international and domestic banks, private capital funds (equity, credit and infrastructure), development finance institutions, pension funds and other institutional investors, carbon credit investors, and oil and gas equipment suppliers that offer financing solutions.
b)Establish and maintain ongoing relationships with a range of concessional and public capital providers, including multilateral and regional development banks, bilateral development agencies, impact and philanthropic capital, sovereign wealth funds and other government-backed funds.
c)Play an active role with capital providers in the Middle East and North Africa (MENA) region, including but not limited to national oil companies, sovereign wealth funds, regional banks and regional investors.
Explore partnerships and specific project co-finance opportunities that reflect the above capital providers' strategic priorities, financial tools, capital availability, risk/return requirements, technical capacities and other relevant factors.
Provide industry, finance and geopolitical insights for project implementation in the Middle East and North Africa (MENA) region.
Brief the GFMR Program Manager, Steering Committee and other senior World Bank officials (as needed) on progress towards the implementation of GFMR's finance strategy.
Participate in financial and oil & gas industry forums, seminars and other initiatives that aim to mobilize capital and promote standards, criteria and innovative structures for the financing of flaring and methane abatement.
Contribute to GFMR knowledge-sharing initiatives with a focus on flaring and methane abatement financing, including by: (i) providing input and advice on the production and publication of financing case studies for flare and methane abatement, or other similar financial studies and reports; (ii) participating in workshops and webinars with financial and industry players; and (iii) sharing of GFMR's evidence and best practices at financial and industry events.
Other tasks agreed with the GFMR Program Manager, consistent with the Specialist's areas of expertise and time allocation.
The Specialist will be based in either the World Bank's office in Abu Dhabi, UAE or World Bank headquarters in Washington, DC and report to GFMR's Program Manager, who is also based in Washington, DC.
International and domestic travel is expected for business needs and as requested by GFMR's Program Manager.
Selection Criteria
This role requires a significant amount of leadership and autonomy, as demonstrated by at least 8 years of cumulative experience across one or more of the following areas:
Project and corporate finance and capital markets, with a focus on the oil and gas and infrastructure sectors. The candidate will have a solid understanding of capital structures and of different financial instruments (equity, corporate or project loans, corporate or project bonds) and their terms and conditions, familiarity and ability to interact at a senior level with different providers of such financial instruments, and a knowledge of their financing processes (e.g., direct lending, loan syndication, bond issuance, private equity investments). Experience may have been acquired through senior roles at commercial or investment banks, investment funds, such as private infrastructure/equity/credit funds, institutional investors, sovereign wealth funds or other players in the financial services industry.
Oil and gas project development and financing. Experience may have been acquired through senior roles at oil companies; energy and oil ministries or similar government entities; oil service providers; engineering firms; consulting firms and oil and gas equipment providers; investment banks; and international institutions such as development banks, among other entities. Experience in flaring and methane abatement projects is a significant plus, although not a strict requirement, considering this is a relatively new area of financing.
Sustainable finance. The candidate will be familiar with the themes, trends, advocacy and policy initiatives concerning sustainable finance, such as the development of the green and sustainable bond markets, the Paris Agreement and alignment, transition finance and constraints of various finance industry players concerning the financing of upstream oil and gas activities. Such experience may have been acquired through roles in international finance institutions, finance industry organizations, sustainable finance departments of financial services providers and investors, advocacy organizations and think tanks, and participations in sustainable finance events, forums and similar initiatives.
Involvement in publications on sustainable finance and methane/flare abatement finance, as an author or contributor, is a plus.
Experience working in developing countries, in any of the above capacities and in particular in oil and gas project development and financing, is a significant plus.
The candidate must be fluent in English, oral and written; working knowledge of Arabic, French, Russian or Spanish is a significant plus.
A Masters' or PhD in Business Administration, Economics, Finance, Public Policy/Administration or similar field from an internationally recognized academic institution is required.
The candidate should have a strong track record of teamwork in a diverse and collaborative environment.
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.