Senior Financial Sector Specialist
Apply NowCompany: The World Bank Group
Location: Washington, DC 20011
Description:
Senior Financial Sector Specialist
Job #:
req32704
Organization:
World Bank
Sector:
Financial Sector
Grade:
GG
Term Duration:
4 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English, Spanish
Preferred Language(s):
Portuguese
Closing Date:
4/25/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. 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, increasing shared prosperity and promoting sustainable development. 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
Sector Context (The Finance, Competitiveness, and Investment Global Practice, FCI)
The Finance, Competitiveness, and Investment (FCI) Global Department (GD) belongs to the Prosperity Vertical. FCI combines expertise in the financial sector with expertise in private sector development to foster private sector-led growth and help create markets in client countries. FCI's core lines of business are: (a) Financial Stability & Integrity; (b) Financial Inclusion, Infrastructure & Access; (c) Firm Capabilities & Innovation; (d) Long-Term Finance; (e) Climate & Risk Management; (f) Markets and Technology; and (g) Investment and Competition.
For more information, please visit https://www.worldbank.org/en/about/unit/fci
Regional Context in the Latin America and the Caribbean Region (LCR)
The World Bank Group serves 30 client countries in the Latin America and the Caribbean Region (LCR). Clients range from large rapidly growing sophisticated middle-income countries to IDA countries to small Caribbean states to one fragile state. The World Bank works with governments, the private sector and civil society for education, inclusion, and resilience in the face of climate change to end poverty on a livable planet. In the 2022, the region managed to weather relatively well the challenges it faced in the context of COVID-19 including rising inflation pressures, global economic uncertainty, and rising debt. Poverty and employment returned to pre-pandemic levels. The growth outlook for 2023 is 2 percent but headwinds persist and may become more pronounced. The growth forecast for 2024 is 2.3 percent, indicating that the region has regressed to the low levels of pre-pandemic growth. Household income losses due to the pandemic have not fully recovered, especially for the middle class. The average poverty rate now stands above pre-pandemic levels at 30.3 percent.
The World Bank seeks to boost sustainable, resilient, and inclusive growth in Latin America and the Caribbean by protecting and enhancing human capital, helping countries adapt to climate change and mitigate its impacts, and taking advantage of new opportunities in green industries. It also seeks to promote an inclusive recovery by attracting investment, fostering job creation, and interacting with traditionally excluded groups, such as indigenous peoples, Afro-descendants, and people with disabilities. Operationally, the program consists of roughly 250 operations under implementation with almost US$33 billion in commitments, and 200+ knowledge products.
FCI in the Latin America and the Caribbean Region (LCR)
The FCI portfolio and pipeline in LCR includes around 15 loans (IPFs and DPLs) focused on both private sector and financial sector development issues, including competitiveness, business environment, entrepreneurial skills, innovation, integration into global value chains, firm productivity, digital economy, financial inclusion, Fintech, infrastructure and housing finance, and pension funds. There is a strong focus on private capital mobilization (PCM), including collaboration with sectoral GPs (e.g. urban, energy, transport). Similarly, FCI delivers several analytical work pieces and regional reports as well as RAS in the region, including in collaboration with other verticals.
Job Duties and Responsibilities:
The Senior Financial Sector Specialist, based in Washington, DC, will report to the LCR FCI Manager and will be expected to work across the LCR region, with a versatile skillset and expertise to cover integrative solutions focusing on capital markets and long-term finance, including infrastructure finance. FCI's Financial Sector program covers a variety of analytical and operational projects aimed at enhancing the stability, efficiency, and developmental impact of financial sectors in the region. The program cuts across several topics, including safety and soundness of financial institutions, financial regulatory reforms, financial market development, green finance, digital finance, SME finance, early-stage equity finance and innovation, housing finance and financial inclusion, among others. This position focuses on long term finance and capital markets solutions.
Specific tasks and responsibilities will include, but not be limited to, the following:
-Lead/co-lead technical engagements on long term finance issues in key markets, in close coordination with country focal points (e.g. Peru, Colombia, Brazil, Mexico) and global teams (including as LAC regional focal point for J-CAP), with a focus on financial sector development and PCM.
-Support counterparts and lead/co-lead engagement on relevant issues focusing on capital markets development, housing finance, carbon markets integrity, mobilizing private capital, and strengthening development finance institutions. Collaborate closely with other GPs to design and implement scalable projects (e.g. affordable housing with the Urban GP, carbon finance with Agriculture and Environment GPs, energy efficiency with Energy GP, etc.).
-Support the implementation of ongoing/new FCI financial sector lending projects and advisory services and analytics (ASAs) programs and Just-in-Time (JIT) TA with client countries; lead and/or contribute to developing new work programs and projects (financing and ASAs) to meet country needs in line with client and GP priorities.
-Evaluate financial sector policies and market institutions with a view to formulating reform recommendations for financial sector authorities.
-Together with FCI country focal points, work closely with the Program Leaders, GPs, CMUs, IFC and MIGA to ensure the integration of relevant financial sector issues in country strategies, SCDs/CPFs, core knowledge pieces, work programs, and country policy dialogue and engagement.
-Deliver quality analytical and advisory work on a range of operational, country and sector issues, providing expert interpretation of information/data, identifying key pertinent issues, and recommending targeted actions/solutions with a focus on financial sector development.
-Support the Prosperity team in the preparation of briefing material on country program/sector and project issues, with emphasis on the financial sector. Produce technical notes and inputs, briefings, presentations, etc. as requested by Management.
Selection Criteria
This position requires a seasoned senior financial sector specialist with strong technical skills and transactional experience in the private sector, and with a demonstrated capacity to deliver a solid work program to demanding clients. Selected candidates will have demonstrated an ability to coordinate teams and complex assignments, mentor team members effectively, deliver results on the ground, and lead technical policy dialogue, while coordinating with IFC and Miga. The following qualifications will be considered:
Master's degree in a relevant discipline (finance, economics, business administration).
At least 10 years of relevant professional experience in the financial sector (since completing graduate degree), with meaningful exposure to development finance (in multilaterals, national development banks).
Strong knowledge of, and experience in the, private sector, particularly on infrastructure finance, with demonstrated transactional and/or analytical history.
Knowledge of the LCR Region, earned through prior work experience in the region, particularly in countries with larger capital markets.
Recognized technical depth and experience in at least one of FCI's topics, with strong preference for areas related to financial intermediaries, capital markets, development banks, equity finance, and housing finance.
Proven project management ability, including hands-on experience in conceptualizing, designing, and implementing projects.
Knowledge of Bank lending and analytical instruments. Exposure of IPFs or IFC transactions, desirable.
Strong client orientation and capacity to interact effectively with a range of stakeholders within and outside the Bank.
Integrative capacity including the ability to situate sectoral issues within a broader economic development framework.
Creativity and drive to build platforms for regular dialogue as well as the ability to create and expand a network of relevant actors.
Excellent writing, editing, and oral presentation skills.
Fluency in English and Spanish; including the ability to lead technical conversations and write briefs and reports in both languages. Proficiency in Portuguese will be considered an asset.
Ability to coach/mentor more junior staff.
Proven track record to mentor junior staff and incentivize teams, encourage confidence in senior country officials, and work in a culturally diverse environment.
Note: 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 #:
req32704
Organization:
World Bank
Sector:
Financial Sector
Grade:
GG
Term Duration:
4 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English, Spanish
Preferred Language(s):
Portuguese
Closing Date:
4/25/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. 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, increasing shared prosperity and promoting sustainable development. 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
Sector Context (The Finance, Competitiveness, and Investment Global Practice, FCI)
The Finance, Competitiveness, and Investment (FCI) Global Department (GD) belongs to the Prosperity Vertical. FCI combines expertise in the financial sector with expertise in private sector development to foster private sector-led growth and help create markets in client countries. FCI's core lines of business are: (a) Financial Stability & Integrity; (b) Financial Inclusion, Infrastructure & Access; (c) Firm Capabilities & Innovation; (d) Long-Term Finance; (e) Climate & Risk Management; (f) Markets and Technology; and (g) Investment and Competition.
For more information, please visit https://www.worldbank.org/en/about/unit/fci
Regional Context in the Latin America and the Caribbean Region (LCR)
The World Bank Group serves 30 client countries in the Latin America and the Caribbean Region (LCR). Clients range from large rapidly growing sophisticated middle-income countries to IDA countries to small Caribbean states to one fragile state. The World Bank works with governments, the private sector and civil society for education, inclusion, and resilience in the face of climate change to end poverty on a livable planet. In the 2022, the region managed to weather relatively well the challenges it faced in the context of COVID-19 including rising inflation pressures, global economic uncertainty, and rising debt. Poverty and employment returned to pre-pandemic levels. The growth outlook for 2023 is 2 percent but headwinds persist and may become more pronounced. The growth forecast for 2024 is 2.3 percent, indicating that the region has regressed to the low levels of pre-pandemic growth. Household income losses due to the pandemic have not fully recovered, especially for the middle class. The average poverty rate now stands above pre-pandemic levels at 30.3 percent.
The World Bank seeks to boost sustainable, resilient, and inclusive growth in Latin America and the Caribbean by protecting and enhancing human capital, helping countries adapt to climate change and mitigate its impacts, and taking advantage of new opportunities in green industries. It also seeks to promote an inclusive recovery by attracting investment, fostering job creation, and interacting with traditionally excluded groups, such as indigenous peoples, Afro-descendants, and people with disabilities. Operationally, the program consists of roughly 250 operations under implementation with almost US$33 billion in commitments, and 200+ knowledge products.
FCI in the Latin America and the Caribbean Region (LCR)
The FCI portfolio and pipeline in LCR includes around 15 loans (IPFs and DPLs) focused on both private sector and financial sector development issues, including competitiveness, business environment, entrepreneurial skills, innovation, integration into global value chains, firm productivity, digital economy, financial inclusion, Fintech, infrastructure and housing finance, and pension funds. There is a strong focus on private capital mobilization (PCM), including collaboration with sectoral GPs (e.g. urban, energy, transport). Similarly, FCI delivers several analytical work pieces and regional reports as well as RAS in the region, including in collaboration with other verticals.
Job Duties and Responsibilities:
The Senior Financial Sector Specialist, based in Washington, DC, will report to the LCR FCI Manager and will be expected to work across the LCR region, with a versatile skillset and expertise to cover integrative solutions focusing on capital markets and long-term finance, including infrastructure finance. FCI's Financial Sector program covers a variety of analytical and operational projects aimed at enhancing the stability, efficiency, and developmental impact of financial sectors in the region. The program cuts across several topics, including safety and soundness of financial institutions, financial regulatory reforms, financial market development, green finance, digital finance, SME finance, early-stage equity finance and innovation, housing finance and financial inclusion, among others. This position focuses on long term finance and capital markets solutions.
Specific tasks and responsibilities will include, but not be limited to, the following:
-Lead/co-lead technical engagements on long term finance issues in key markets, in close coordination with country focal points (e.g. Peru, Colombia, Brazil, Mexico) and global teams (including as LAC regional focal point for J-CAP), with a focus on financial sector development and PCM.
-Support counterparts and lead/co-lead engagement on relevant issues focusing on capital markets development, housing finance, carbon markets integrity, mobilizing private capital, and strengthening development finance institutions. Collaborate closely with other GPs to design and implement scalable projects (e.g. affordable housing with the Urban GP, carbon finance with Agriculture and Environment GPs, energy efficiency with Energy GP, etc.).
-Support the implementation of ongoing/new FCI financial sector lending projects and advisory services and analytics (ASAs) programs and Just-in-Time (JIT) TA with client countries; lead and/or contribute to developing new work programs and projects (financing and ASAs) to meet country needs in line with client and GP priorities.
-Evaluate financial sector policies and market institutions with a view to formulating reform recommendations for financial sector authorities.
-Together with FCI country focal points, work closely with the Program Leaders, GPs, CMUs, IFC and MIGA to ensure the integration of relevant financial sector issues in country strategies, SCDs/CPFs, core knowledge pieces, work programs, and country policy dialogue and engagement.
-Deliver quality analytical and advisory work on a range of operational, country and sector issues, providing expert interpretation of information/data, identifying key pertinent issues, and recommending targeted actions/solutions with a focus on financial sector development.
-Support the Prosperity team in the preparation of briefing material on country program/sector and project issues, with emphasis on the financial sector. Produce technical notes and inputs, briefings, presentations, etc. as requested by Management.
Selection Criteria
This position requires a seasoned senior financial sector specialist with strong technical skills and transactional experience in the private sector, and with a demonstrated capacity to deliver a solid work program to demanding clients. Selected candidates will have demonstrated an ability to coordinate teams and complex assignments, mentor team members effectively, deliver results on the ground, and lead technical policy dialogue, while coordinating with IFC and Miga. The following qualifications will be considered:
Master's degree in a relevant discipline (finance, economics, business administration).
At least 10 years of relevant professional experience in the financial sector (since completing graduate degree), with meaningful exposure to development finance (in multilaterals, national development banks).
Strong knowledge of, and experience in the, private sector, particularly on infrastructure finance, with demonstrated transactional and/or analytical history.
Knowledge of the LCR Region, earned through prior work experience in the region, particularly in countries with larger capital markets.
Recognized technical depth and experience in at least one of FCI's topics, with strong preference for areas related to financial intermediaries, capital markets, development banks, equity finance, and housing finance.
Proven project management ability, including hands-on experience in conceptualizing, designing, and implementing projects.
Knowledge of Bank lending and analytical instruments. Exposure of IPFs or IFC transactions, desirable.
Strong client orientation and capacity to interact effectively with a range of stakeholders within and outside the Bank.
Integrative capacity including the ability to situate sectoral issues within a broader economic development framework.
Creativity and drive to build platforms for regular dialogue as well as the ability to create and expand a network of relevant actors.
Excellent writing, editing, and oral presentation skills.
Fluency in English and Spanish; including the ability to lead technical conversations and write briefs and reports in both languages. Proficiency in Portuguese will be considered an asset.
Ability to coach/mentor more junior staff.
Proven track record to mentor junior staff and incentivize teams, encourage confidence in senior country officials, and work in a culturally diverse environment.
Note: 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.