Senior Financial Officer
Apply NowCompany: The World Bank Group
Location: Washington, DC 20011
Description:
Senior Financial Officer
Job #:
req32714
Organization:
World Bank
Sector:
Financial Sector
Grade:
GG
Term Duration:
3 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Preferred Language(s):
Closing Date:
4/24/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
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. Visit www.worldbank.org.
The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group's funded benefit plans, including the retirement scheme - the Staff Retirement Plan, the retiree medical and life insurance programs - the Retired Staff Benefits Plan, and other ancillary benefits. The financial management includes asset management responsibilities and actuarial support. PEN manages about $41 billion US dollars invested across a range of asset classes, from fixed income to public equities to private equity, real assets and absolute return strategies. The Pension Finance Committee, appointed by the Bank Group President and chaired by the Chief Financial Officer, has oversight responsibility for the financial management of the plans.
The Pension Middle Office team (PENMO) under PEN is responsible for providing a full range of functions supporting these investment activities, including the following: i) pension plan operational activities, ii) pension plans financial statements, iii) pension investment performance and attribution, iv) private asset portfolio administration, v)asset class exposure monitoring, vi) investment asset pricing and valuation, and vi) third-party clients' reporting.
The World Bank Group is committed to achieving diversity in terms of race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.
Roles & Responsibility:
The Senior Financial Officer/ Team Lead will manage a team responsible primarily for investment performance and private market administration. The Team Lead will work closely with the PENMO Manager and liaise with the other PENMO Team Leads across DC and Chennai location and other units such as pensions investment (PENIN), information systems (ITS), Budget (BPS), legal (LEGFI) etc.
The main responsibilities of the Team Lead include but are not limited to the following:
Strategic Leadership:
Serve as the team lead working in close collaboration with other leads across Chennai and Washington D.C.
Supervise team responsible for a range of functions and activities described above.
Oversee the work program and deliverables of the team, with overall responsibility for the quality, accuracy and timeliness of the team's work products.
Lead the team's representation, participation and input in projects and initiatives that involve the functional areas and products that the team supports.
Prepare and present regular investment performance reports to senior management and relevant committees.
Build and maintain strong relationships with colleagues internally (pensions investment (PENIN), information systems (ITS), Budget (BPS), legal (LEGFI), etc.), as well as with external clients, market counterparts and custodian. Collaborate across internal and external organizational boundaries in finding solutions and delivering results.
Foster and role-model behavior that cultivates a strong team culture of collaboration, teamwork, knowledge sharing, open communication, innovation and drive for results.
Work together with other team leads to provide regular updates to the PENMO manager on emerging business trends, client needs, client feedback, operational issues, team initiatives, staff members' concerns, and other team-related matters and activities.
Client Service:
Research, prepare and coordinate responses to client queries and concerns and provide programmatic and ad-hoc technical assistance.
Develop and implement solutions that help create positive experiences and interactions with the team's clients and counterparts.
Conduct proactive and sustained outreach to clients, key business partners, and other WBG teams to keep abreast of emerging industry trends that will impact the team's functions and client service.
People Supervision:
Support the PENMO Manager in helping set performance expectations for the team and provide feedback to the manager on staff members' performance and talent reviews.
Ensure regular, systematic and transparent communication with the PENMO Manager, team members, and PEN management team and colleagues on emerging business and operational concerns, upcoming projects, as well as ongoing initiatives and significant day-to-day operational issues.
Help develop staff members' career by providing timely feedback and coaching on skills, competencies and/or experience gaps. Identify and communicate such gaps to staff members.
Engage with staff to design and execute an appropriate and effective professional development plan for each team member.
Mentor, coach and develop team members and enable staff to maximize their skills and competencies towards delivering on the team's work program and in growing their long-term careers.
Effectively prioritize and delegate work assignments within the team.
Technical:
Lead a team to ensure timely and accurate investment performance reporting for three retirement plans, oversee routine and ad-hoc reporting for analysis and decision-making, support new investment initiatives, enhance BI dashboards for stakeholder communication, and maintain monitoring processes and vendor relationships.
Lead in-house administration for private asset classes, enhance BI dashboards, support ad-hoc requests, improve risk control processes, stay updated on market developments, and ensure backup and rotation for private market services.
Oversee portfolio rebalancing, ensure timely trade support, monitor funding and withdrawals, and manage short-term liquidity needs.
Lead PENMO on system initiatives, implement new IT systems, enhance pension database and BI dashboards, and seek process improvement and automation opportunities.
Support PENMO Manager on regular and ad hoc tasks including annual report, cost and fee analysis, surveys, analysis and reporting for PEN Budget, etc.
Note: The selected team lead will be part of the PENMO leadership team and with responsibilities beyond the core functions of the team. The organizational structure within PENMO may change from time to time. It is expected that the work program of the selected team lead will adapt and evolve accordingly and will not be limited to functions and responsibilities as defined above. The selected candidate will also need to be flexible in their work hours to be able to connect with and lead teams in other location and time zones.
Selection Criteria
Advanced degree in finance, accounting, economics, or a general business-related field with minimum of 8 plus years of related experience.
Professional Certification such as a CFA and/or CAIA is a plus.
Good quantitative and qualitative analytical skills and proficiency in Excel, as well as strong technical proficiency in Excel macros and/ or programing; familiarity with Power Queries, Power Automate, interactive reporting (e.g. Power BI) and Oracle databases and efficient use of coding will be a plus.
Demonstrated ability to handle and analyze large amount of data, to streamline processes to deliver accurate and useful reports to clients and carry out critical control procedures to a high degree of professionalism.
Proven ability to manage teams, nurture and grow talent and marshal resources to effectively deliver on the work program.
Demonstrated ability to maintain relationships and communications with key stakeholders.
Creative thinker and quick learner with initiative, drive, and attention to detail.
Proven capacity to multi-task, deliver results, and respond quickly and effectively to requests. Ability to work under pressure and resolve conflicts.
Excellent communication - both verbal and written skills are required. Experience in giving presentations and training is desirable.
Good team player with strong interpersonal skills and commitment to work in a team-oriented, multi-cultural environment.
Demonstrated ability to collaborate across multidisciplinary teams in order to foster strategic business partnerships.
Competencies:
Leading and Innovation:
Contribute new insights to understand situations and develop solutions to resolve complex problems. Adapt as circumstances require and manage the impact of own behavior on others in the context of WBG's values and mission. Identify and pursue innovative approaches to resolve issues.
Deliver Results for Stakeholders:
Add value by constantly looking for better ways to get more impactful results; set challenging stretch goals for oneself. Immerse oneself in stakeholders' experiences and perspectives by asking probing questions to understand unmet needs. Demonstrate accountability for achieving results. Identify and propose solutions to mitigate and manage risks.
Collaborate Within Teams and Across Boundaries:
Appropriately involve others in decision-making and communicate with key stakeholders. Approach conflicts as common problems to be solved. Actively seek and consider diverse ideas and approaches displaying a sense of mutuality and respect. Integrate WBG perspectives into work.
Create, Apply and Share Knowledge:
Leverage the department's expertise and body of knowledge across WBG to strengthen internal and/or external solutions. Seek to learn from more experienced staff to deepen or strengthen their professional knowledge and help others to learn. Build personal and professional networks inside and outside the department and unit.
Make Smart Decisions:
Seek diversity of information and inputs, research possible solutions, and generate recommended options. Identify and understand risks and proposes recommendations. Based on risk analysis make decisions on time within own area of responsibility, considering the interests and concerns of stakeholders
This internal requisition is open to WBG and IMF staff only (including short-term and extended term consultants/ temporaries). External candidates are requested not to apply. In case an external candidate applies, their application 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 #:
req32714
Organization:
World Bank
Sector:
Financial Sector
Grade:
GG
Term Duration:
3 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Preferred Language(s):
Closing Date:
4/24/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
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. Visit www.worldbank.org.
The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group's funded benefit plans, including the retirement scheme - the Staff Retirement Plan, the retiree medical and life insurance programs - the Retired Staff Benefits Plan, and other ancillary benefits. The financial management includes asset management responsibilities and actuarial support. PEN manages about $41 billion US dollars invested across a range of asset classes, from fixed income to public equities to private equity, real assets and absolute return strategies. The Pension Finance Committee, appointed by the Bank Group President and chaired by the Chief Financial Officer, has oversight responsibility for the financial management of the plans.
The Pension Middle Office team (PENMO) under PEN is responsible for providing a full range of functions supporting these investment activities, including the following: i) pension plan operational activities, ii) pension plans financial statements, iii) pension investment performance and attribution, iv) private asset portfolio administration, v)asset class exposure monitoring, vi) investment asset pricing and valuation, and vi) third-party clients' reporting.
The World Bank Group is committed to achieving diversity in terms of race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.
Roles & Responsibility:
The Senior Financial Officer/ Team Lead will manage a team responsible primarily for investment performance and private market administration. The Team Lead will work closely with the PENMO Manager and liaise with the other PENMO Team Leads across DC and Chennai location and other units such as pensions investment (PENIN), information systems (ITS), Budget (BPS), legal (LEGFI) etc.
The main responsibilities of the Team Lead include but are not limited to the following:
Strategic Leadership:
Serve as the team lead working in close collaboration with other leads across Chennai and Washington D.C.
Supervise team responsible for a range of functions and activities described above.
Oversee the work program and deliverables of the team, with overall responsibility for the quality, accuracy and timeliness of the team's work products.
Lead the team's representation, participation and input in projects and initiatives that involve the functional areas and products that the team supports.
Prepare and present regular investment performance reports to senior management and relevant committees.
Build and maintain strong relationships with colleagues internally (pensions investment (PENIN), information systems (ITS), Budget (BPS), legal (LEGFI), etc.), as well as with external clients, market counterparts and custodian. Collaborate across internal and external organizational boundaries in finding solutions and delivering results.
Foster and role-model behavior that cultivates a strong team culture of collaboration, teamwork, knowledge sharing, open communication, innovation and drive for results.
Work together with other team leads to provide regular updates to the PENMO manager on emerging business trends, client needs, client feedback, operational issues, team initiatives, staff members' concerns, and other team-related matters and activities.
Client Service:
Research, prepare and coordinate responses to client queries and concerns and provide programmatic and ad-hoc technical assistance.
Develop and implement solutions that help create positive experiences and interactions with the team's clients and counterparts.
Conduct proactive and sustained outreach to clients, key business partners, and other WBG teams to keep abreast of emerging industry trends that will impact the team's functions and client service.
People Supervision:
Support the PENMO Manager in helping set performance expectations for the team and provide feedback to the manager on staff members' performance and talent reviews.
Ensure regular, systematic and transparent communication with the PENMO Manager, team members, and PEN management team and colleagues on emerging business and operational concerns, upcoming projects, as well as ongoing initiatives and significant day-to-day operational issues.
Help develop staff members' career by providing timely feedback and coaching on skills, competencies and/or experience gaps. Identify and communicate such gaps to staff members.
Engage with staff to design and execute an appropriate and effective professional development plan for each team member.
Mentor, coach and develop team members and enable staff to maximize their skills and competencies towards delivering on the team's work program and in growing their long-term careers.
Effectively prioritize and delegate work assignments within the team.
Technical:
Lead a team to ensure timely and accurate investment performance reporting for three retirement plans, oversee routine and ad-hoc reporting for analysis and decision-making, support new investment initiatives, enhance BI dashboards for stakeholder communication, and maintain monitoring processes and vendor relationships.
Lead in-house administration for private asset classes, enhance BI dashboards, support ad-hoc requests, improve risk control processes, stay updated on market developments, and ensure backup and rotation for private market services.
Oversee portfolio rebalancing, ensure timely trade support, monitor funding and withdrawals, and manage short-term liquidity needs.
Lead PENMO on system initiatives, implement new IT systems, enhance pension database and BI dashboards, and seek process improvement and automation opportunities.
Support PENMO Manager on regular and ad hoc tasks including annual report, cost and fee analysis, surveys, analysis and reporting for PEN Budget, etc.
Note: The selected team lead will be part of the PENMO leadership team and with responsibilities beyond the core functions of the team. The organizational structure within PENMO may change from time to time. It is expected that the work program of the selected team lead will adapt and evolve accordingly and will not be limited to functions and responsibilities as defined above. The selected candidate will also need to be flexible in their work hours to be able to connect with and lead teams in other location and time zones.
Selection Criteria
Advanced degree in finance, accounting, economics, or a general business-related field with minimum of 8 plus years of related experience.
Professional Certification such as a CFA and/or CAIA is a plus.
Good quantitative and qualitative analytical skills and proficiency in Excel, as well as strong technical proficiency in Excel macros and/ or programing; familiarity with Power Queries, Power Automate, interactive reporting (e.g. Power BI) and Oracle databases and efficient use of coding will be a plus.
Demonstrated ability to handle and analyze large amount of data, to streamline processes to deliver accurate and useful reports to clients and carry out critical control procedures to a high degree of professionalism.
Proven ability to manage teams, nurture and grow talent and marshal resources to effectively deliver on the work program.
Demonstrated ability to maintain relationships and communications with key stakeholders.
Creative thinker and quick learner with initiative, drive, and attention to detail.
Proven capacity to multi-task, deliver results, and respond quickly and effectively to requests. Ability to work under pressure and resolve conflicts.
Excellent communication - both verbal and written skills are required. Experience in giving presentations and training is desirable.
Good team player with strong interpersonal skills and commitment to work in a team-oriented, multi-cultural environment.
Demonstrated ability to collaborate across multidisciplinary teams in order to foster strategic business partnerships.
Competencies:
Leading and Innovation:
Contribute new insights to understand situations and develop solutions to resolve complex problems. Adapt as circumstances require and manage the impact of own behavior on others in the context of WBG's values and mission. Identify and pursue innovative approaches to resolve issues.
Deliver Results for Stakeholders:
Add value by constantly looking for better ways to get more impactful results; set challenging stretch goals for oneself. Immerse oneself in stakeholders' experiences and perspectives by asking probing questions to understand unmet needs. Demonstrate accountability for achieving results. Identify and propose solutions to mitigate and manage risks.
Collaborate Within Teams and Across Boundaries:
Appropriately involve others in decision-making and communicate with key stakeholders. Approach conflicts as common problems to be solved. Actively seek and consider diverse ideas and approaches displaying a sense of mutuality and respect. Integrate WBG perspectives into work.
Create, Apply and Share Knowledge:
Leverage the department's expertise and body of knowledge across WBG to strengthen internal and/or external solutions. Seek to learn from more experienced staff to deepen or strengthen their professional knowledge and help others to learn. Build personal and professional networks inside and outside the department and unit.
Make Smart Decisions:
Seek diversity of information and inputs, research possible solutions, and generate recommended options. Identify and understand risks and proposes recommendations. Based on risk analysis make decisions on time within own area of responsibility, considering the interests and concerns of stakeholders
This internal requisition is open to WBG and IMF staff only (including short-term and extended term consultants/ temporaries). External candidates are requested not to apply. In case an external candidate applies, their application 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.