Senior Financial Officer
Apply NowCompany: The World Bank Group
Location: Washington, DC 20011
Description:
Senior Financial Officer
Job #:
req32463
Organization:
World Bank
Sector:
Financial Management
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:
4/4/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
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 Development Finance Vice-Presidency (DFi) is responsible for the management and monitoring of policies, procedures, and resources for the World Bank's development financing vehicles. DFi sets the policy framework for the World Bank Group's development finance by engaging in strategic resource mobilization, playing an intermediation role to help align the needs of recipients, WBG institutional priorities, and priorities of funding partners, through a variety of funding instruments. These include the International Development Association (IDA), the World Bank's fund for the poorest, the International Bank for Reconstruction and Development (IBRD), and Trust Funds, including Financial Intermediary Funds (FIFs).
Given the nature and variety of this portfolio, DFi works closely with the President's office, Executive Directors, WBG senior management, corporate and operations units across the WBG, funding partners and government officials. As such, DFi is structured to provide the institution with a more holistic approach to financing, financial policy, and strategic fundraising across IDA, IBRD, and Bank/IFC trust funds and partnerships.
Within DFi, the Development Finance Trust Funds and Partner Relations (DFTPR) Department is at the forefront of the Bank's engagement on Trust Funds, FIFs, cofinancing and partner relations. The Department is responsible for managing and administering the almost US$50 billion portfolio of Trust Funds and FIFs, designing and establishing new, multi-donor partnership initiatives underpinned by Trust Funds and FIFs, and setting the policy and procedural framework for Trust Funds, FIFs and Partnerships in such a manner they complement IDA and IBRD. Currently, the department holds a trustee role for 27 FIFs, with at least one more in the offing.
DFTPR comprises of two units - i) Trust Funds Policy and Partner Relations, and ii) FIFs, Digital and Analytics (subsumed under the title of "Financial Management"). The Evolution Roadmap of the World Bank, with its concurrent focus on the financial model and the operational model, has presented several new opportunities for DFTPR and entailed that the work program of the department is expected to pivot towards new ways of functioning and responding to new challenges. These include inter alia an enhanced focus on cofinancing in the public sector, responding to expectations of financial innovations in the management of FIF portfolios, resultant tweaks and changes to the policies on trust funds and FIFs, as well as increased demands for data and analytics. In addition, the rapid changes in the fiscal outlook and geopolitical priorities of the Bank's traditional sovereign donors underscore the urgency of developing new partnerships with more expansive sovereign and non-sovereign entities. Finally, with the global attention to the reform of MDBs, WBG trusts funds and FIFs are in the public eye in ways that they were not previously. This requires an understanding of external and internal communications, an appreciation of how trust funds and FIFs work operationally and how they are linked to the broader landscape of the WBG's work and ultimately, their impact on the ground.
Duties and Accountabilities:
DFTPR is seeking a Senior Finance Officer to join its Trust Fund Policy and Partner Relations unit (TFPPR). The incumbent will report to the TFPPR Manager, and work under the day-to-day guidance of the Team Leader of the Trust Fund Policy and Client Services Team, who will also be his/her co-supervisor.
The Trust Fund Policy and Client Services Team, currently comprising nine staff, advises and supports the Bank's operational teams and staff on a range of financing and operational issues throughout the Trust Fund lifecycle. This reduces the burden on frontline staff to establish, manage, and close Trust Funds. Building on this hands-on experience, the team is responsible for keeping Trust Fund policy up-to-date in light of the evolving WBG. The team also supports transparency and early disclosure of fundraising plans and activities to support operational teams' strategic fundraising efforts, promote opportunities for scale, and improve cross-institutional coordination. In line with the most recent Trust Fund Reforms, a strong focus of the team is to strengthen the end-to-end approach to trust funds by linking mobilization, strategic alignment, establishment, and portfolio oversight.
The Team also has a Development Partner (DP) relations function, organizing meetings with key DPs on TF matters, and staying abreast of issues relevant to specific DPs for management briefs, in coordination with ECR and the IFC. Focal point responsibilities for individual DPs are distributed across the department.
The Senior Finance Officer is expected to be responsible for the following tasks and duties in relation to DFTPR DP engagement, providing TF policy and client services advice for selected internal clients and topics, leading on select TF policy topics and contributing to the work of the unit.
1. Lead DFTPR's engagement with Non-Sovereign Donors, including:
(i) Maintaining and updating as needed the Bank's policy documents on Due Diligence for Non-Sovereign Donors, in consultation with LEG, CRO and other Bank units as relevant;
(ii) Developing the Bank's approach to reviewing and mitigating risks associated with Non-Sovereign Donors, particularly conflict of interest risks, in consultation with CRO, ECR and LEG;
(iii) Overseeing the due diligence of Non-Sovereign Donors, providing guidance to the Finance Officer performing the integrity due diligence and leading on the analysis of risks and the development of recommendation for DFI management, following the relevant policies and procedures;
(iv) Maintaining close collaboration and developing sharing of experience with IFC and other MDBs on Non-Sovereign Donor due diligence;
(v) In close coordination with the DFI's FIFDA unit, CRO and LEG, advising on specific risks associated with Non-Sovereign Donors as donors to FIFs;
(vi) Representing DFTPR in the Integrity Due Diligence Steering Committee and the AML/CFT Working Group;
(vii) Serving a DFTPR's focal point for engagement with Non-Sovereign Donors, including Foundations; representing DFTPR in the relevant WBG Communities of Practice and Coordination Group; keeping abreast of main TF-related policy priorities and particular issues with these entities that may be relevant for their engagement in WB TFs; resolving Donor-specific TF-related issues brought to DFTPR as they arise; and coordinating and sharing information with ECR and IFC Partnerships counterparts on matters of common interest.
(viii) Preparing briefs or inputs to senior management briefs on Non-Sovereign Donors;
(ix) Contributing to staff training and to learning events on Non-Sovereign Donors;
2. Upstream TF policy and client officer activities include:
(i) Helping assigned business units (GPs, Regions, and central units that manage trust funds) shape their trust fund portfolio, advising them during the annual Strategic External Funding Framework (SEFF) exercise;
(ii) Helping operational clients identify the most relevant instrument (coordination platform, EFO, trust fund (Umbrella 2.0 program or standalone), financial intermediary fund, etc.) to meet their partnership and development finance objectives;
(iii) Ensuring client teams are aware of and compliant with institutional processes to monitor fundraising and align fundraising with strategic priorities of the Bank; and
(iv) Providing feedback on each Fundraising Initiative (FIN) from the assigned business unit in a timely manner, in particular, focusing on consistency of the fundraising initiative with objectives for defragmentation and moving to fewer, larger programs as outlined in portfolio roadmaps and plans for Umbrella 2.0 programs.
3. Downstream TF policy and client officer activities include:
(i) Advising operational clients on the design of trust fund programs, including Umbrella 2.0 programs (governance, reporting, scope of activities, etc.);
(ii) Providing advice during trust fund concept note reviews;
(iii) Reviewing and providing DFi clearance on Trust Fund Proposals (TFP);
(iv) As part of the "One Stop Shop" support services, offering advice and quality assurance throughout the lifecycle of the trust fund from establishment to closing based on trust fund policy, directives, procedures, and guidance; and
(v) Playing a bridging role between development partners and operational teams to solve problems and strengthen the partnership.
4. Contributing to the work of the unit, including:
(i) Preparing notes, briefings, and other communication products for Management, communication with ED offices and informing Development Partners.
(ii) Undertaking other duties and tasks as required and agreed by the Manager, TFPPR.
Selection Criteria
Master indevelopment economics, public policy, finance, management, accounting or otherrelated fields, and minimum 8 years of relevant experience.
Demonstrated command of Bank Trust Fund policies, procedures andpractices.
Operational experience with Trust Fund management at Trustee/Program level andwith lending operations funded by Trust Funds.
Knowledgeof Trust Fund Reforms and how these are expected to add value to work of Bankoperational units.
Deep experienceworking with the Bank's DPs, particularly Non-Sovereign Donors, and wideknowledge of TF issues specific to the Bank's major DPs.
Familiaritywith principles and processes for integrity due diligence, including Anti-MoneyLaundering and Countering Financing of Terrorism (AML/CFT).
Experienceacross GP and/or CMU side of the matrix to understand the different needs andoperational practices of different internal clients.
Goodunderstanding of key Bank financing instruments, and how they complement eachother (IDA, IBRD, Trust Funds, and FIFs).
Trackrecord of strong relationship management skills, and diplomatic and tactfulcommunications.
Previousexperience in working with donors or country clients of the Bank from the otherside on key Bank financing instruments would be a plus.
Ability tosolve complex operational problems, and willingness to reach out to others tohelp find practical solutions to challenging operational issues.
Proventrack record both as an effective team leader and team player. Attention to detailin providing quality assurance.
Demonstrated ability to work across organizational boundaries with corporateunits and operational units, and strong integrator skills.
Excellentwritten and verbal communication skills with demonstrated ability to thinkstrategically and synthesize complex issues.
Goodorganizational skills. Event organization experience a plus. Proven ability andflexibility to multitask, meet deadlines, provide quality outputs, and attendto details while maintaining an overview of the Trust Fund business. Must beable to anticipate and react promptly to competing demands.
Demonstrated maturity and sound judgment.
**This internal requisition is open to WBG and IMF staff only (includingshort-term and extended term consultants/ temporaries). External candidates arerequested not to apply. In case an external candidate applies, theirapplication will not be considered.**
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 #:
req32463
Organization:
World Bank
Sector:
Financial Management
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:
4/4/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
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 Development Finance Vice-Presidency (DFi) is responsible for the management and monitoring of policies, procedures, and resources for the World Bank's development financing vehicles. DFi sets the policy framework for the World Bank Group's development finance by engaging in strategic resource mobilization, playing an intermediation role to help align the needs of recipients, WBG institutional priorities, and priorities of funding partners, through a variety of funding instruments. These include the International Development Association (IDA), the World Bank's fund for the poorest, the International Bank for Reconstruction and Development (IBRD), and Trust Funds, including Financial Intermediary Funds (FIFs).
Given the nature and variety of this portfolio, DFi works closely with the President's office, Executive Directors, WBG senior management, corporate and operations units across the WBG, funding partners and government officials. As such, DFi is structured to provide the institution with a more holistic approach to financing, financial policy, and strategic fundraising across IDA, IBRD, and Bank/IFC trust funds and partnerships.
Within DFi, the Development Finance Trust Funds and Partner Relations (DFTPR) Department is at the forefront of the Bank's engagement on Trust Funds, FIFs, cofinancing and partner relations. The Department is responsible for managing and administering the almost US$50 billion portfolio of Trust Funds and FIFs, designing and establishing new, multi-donor partnership initiatives underpinned by Trust Funds and FIFs, and setting the policy and procedural framework for Trust Funds, FIFs and Partnerships in such a manner they complement IDA and IBRD. Currently, the department holds a trustee role for 27 FIFs, with at least one more in the offing.
DFTPR comprises of two units - i) Trust Funds Policy and Partner Relations, and ii) FIFs, Digital and Analytics (subsumed under the title of "Financial Management"). The Evolution Roadmap of the World Bank, with its concurrent focus on the financial model and the operational model, has presented several new opportunities for DFTPR and entailed that the work program of the department is expected to pivot towards new ways of functioning and responding to new challenges. These include inter alia an enhanced focus on cofinancing in the public sector, responding to expectations of financial innovations in the management of FIF portfolios, resultant tweaks and changes to the policies on trust funds and FIFs, as well as increased demands for data and analytics. In addition, the rapid changes in the fiscal outlook and geopolitical priorities of the Bank's traditional sovereign donors underscore the urgency of developing new partnerships with more expansive sovereign and non-sovereign entities. Finally, with the global attention to the reform of MDBs, WBG trusts funds and FIFs are in the public eye in ways that they were not previously. This requires an understanding of external and internal communications, an appreciation of how trust funds and FIFs work operationally and how they are linked to the broader landscape of the WBG's work and ultimately, their impact on the ground.
Duties and Accountabilities:
DFTPR is seeking a Senior Finance Officer to join its Trust Fund Policy and Partner Relations unit (TFPPR). The incumbent will report to the TFPPR Manager, and work under the day-to-day guidance of the Team Leader of the Trust Fund Policy and Client Services Team, who will also be his/her co-supervisor.
The Trust Fund Policy and Client Services Team, currently comprising nine staff, advises and supports the Bank's operational teams and staff on a range of financing and operational issues throughout the Trust Fund lifecycle. This reduces the burden on frontline staff to establish, manage, and close Trust Funds. Building on this hands-on experience, the team is responsible for keeping Trust Fund policy up-to-date in light of the evolving WBG. The team also supports transparency and early disclosure of fundraising plans and activities to support operational teams' strategic fundraising efforts, promote opportunities for scale, and improve cross-institutional coordination. In line with the most recent Trust Fund Reforms, a strong focus of the team is to strengthen the end-to-end approach to trust funds by linking mobilization, strategic alignment, establishment, and portfolio oversight.
The Team also has a Development Partner (DP) relations function, organizing meetings with key DPs on TF matters, and staying abreast of issues relevant to specific DPs for management briefs, in coordination with ECR and the IFC. Focal point responsibilities for individual DPs are distributed across the department.
The Senior Finance Officer is expected to be responsible for the following tasks and duties in relation to DFTPR DP engagement, providing TF policy and client services advice for selected internal clients and topics, leading on select TF policy topics and contributing to the work of the unit.
1. Lead DFTPR's engagement with Non-Sovereign Donors, including:
(i) Maintaining and updating as needed the Bank's policy documents on Due Diligence for Non-Sovereign Donors, in consultation with LEG, CRO and other Bank units as relevant;
(ii) Developing the Bank's approach to reviewing and mitigating risks associated with Non-Sovereign Donors, particularly conflict of interest risks, in consultation with CRO, ECR and LEG;
(iii) Overseeing the due diligence of Non-Sovereign Donors, providing guidance to the Finance Officer performing the integrity due diligence and leading on the analysis of risks and the development of recommendation for DFI management, following the relevant policies and procedures;
(iv) Maintaining close collaboration and developing sharing of experience with IFC and other MDBs on Non-Sovereign Donor due diligence;
(v) In close coordination with the DFI's FIFDA unit, CRO and LEG, advising on specific risks associated with Non-Sovereign Donors as donors to FIFs;
(vi) Representing DFTPR in the Integrity Due Diligence Steering Committee and the AML/CFT Working Group;
(vii) Serving a DFTPR's focal point for engagement with Non-Sovereign Donors, including Foundations; representing DFTPR in the relevant WBG Communities of Practice and Coordination Group; keeping abreast of main TF-related policy priorities and particular issues with these entities that may be relevant for their engagement in WB TFs; resolving Donor-specific TF-related issues brought to DFTPR as they arise; and coordinating and sharing information with ECR and IFC Partnerships counterparts on matters of common interest.
(viii) Preparing briefs or inputs to senior management briefs on Non-Sovereign Donors;
(ix) Contributing to staff training and to learning events on Non-Sovereign Donors;
2. Upstream TF policy and client officer activities include:
(i) Helping assigned business units (GPs, Regions, and central units that manage trust funds) shape their trust fund portfolio, advising them during the annual Strategic External Funding Framework (SEFF) exercise;
(ii) Helping operational clients identify the most relevant instrument (coordination platform, EFO, trust fund (Umbrella 2.0 program or standalone), financial intermediary fund, etc.) to meet their partnership and development finance objectives;
(iii) Ensuring client teams are aware of and compliant with institutional processes to monitor fundraising and align fundraising with strategic priorities of the Bank; and
(iv) Providing feedback on each Fundraising Initiative (FIN) from the assigned business unit in a timely manner, in particular, focusing on consistency of the fundraising initiative with objectives for defragmentation and moving to fewer, larger programs as outlined in portfolio roadmaps and plans for Umbrella 2.0 programs.
3. Downstream TF policy and client officer activities include:
(i) Advising operational clients on the design of trust fund programs, including Umbrella 2.0 programs (governance, reporting, scope of activities, etc.);
(ii) Providing advice during trust fund concept note reviews;
(iii) Reviewing and providing DFi clearance on Trust Fund Proposals (TFP);
(iv) As part of the "One Stop Shop" support services, offering advice and quality assurance throughout the lifecycle of the trust fund from establishment to closing based on trust fund policy, directives, procedures, and guidance; and
(v) Playing a bridging role between development partners and operational teams to solve problems and strengthen the partnership.
4. Contributing to the work of the unit, including:
(i) Preparing notes, briefings, and other communication products for Management, communication with ED offices and informing Development Partners.
(ii) Undertaking other duties and tasks as required and agreed by the Manager, TFPPR.
Selection Criteria
Master indevelopment economics, public policy, finance, management, accounting or otherrelated fields, and minimum 8 years of relevant experience.
Demonstrated command of Bank Trust Fund policies, procedures andpractices.
Operational experience with Trust Fund management at Trustee/Program level andwith lending operations funded by Trust Funds.
Knowledgeof Trust Fund Reforms and how these are expected to add value to work of Bankoperational units.
Deep experienceworking with the Bank's DPs, particularly Non-Sovereign Donors, and wideknowledge of TF issues specific to the Bank's major DPs.
Familiaritywith principles and processes for integrity due diligence, including Anti-MoneyLaundering and Countering Financing of Terrorism (AML/CFT).
Experienceacross GP and/or CMU side of the matrix to understand the different needs andoperational practices of different internal clients.
Goodunderstanding of key Bank financing instruments, and how they complement eachother (IDA, IBRD, Trust Funds, and FIFs).
Trackrecord of strong relationship management skills, and diplomatic and tactfulcommunications.
Previousexperience in working with donors or country clients of the Bank from the otherside on key Bank financing instruments would be a plus.
Ability tosolve complex operational problems, and willingness to reach out to others tohelp find practical solutions to challenging operational issues.
Proventrack record both as an effective team leader and team player. Attention to detailin providing quality assurance.
Demonstrated ability to work across organizational boundaries with corporateunits and operational units, and strong integrator skills.
Excellentwritten and verbal communication skills with demonstrated ability to thinkstrategically and synthesize complex issues.
Goodorganizational skills. Event organization experience a plus. Proven ability andflexibility to multitask, meet deadlines, provide quality outputs, and attendto details while maintaining an overview of the Trust Fund business. Must beable to anticipate and react promptly to competing demands.
Demonstrated maturity and sound judgment.
**This internal requisition is open to WBG and IMF staff only (includingshort-term and extended term consultants/ temporaries). External candidates arerequested not to apply. In case an external candidate applies, theirapplication will not be considered.**
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.