Financial Officer
Apply NowCompany: The World Bank Group
Location: Washington, DC 20011
Description:
Financial Officer
Job #:
req32692
Organization:
World Bank
Sector:
Treasury
Grade:
GF
Term Duration:
3 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Preferred Language(s):
Closing Date:
4/22/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
The World Bank
TheWorld Bank is one of the world's largest sources of funding and knowledge fordeveloping countries and works in more than 100 developing economies to improveliving standards and fight poverty. For each client, the World Bank usesfinancial resources and extensive experience to help our client countries toreduce poverty, increase economic growth, and improve quality of life. Thereare five World Bank Group institutions, each of which specializes in differentaspects of development: the International Bank for Reconstruction andDevelopment (IBRD), the International Development Association (IDA), theInternational Finance Corporation (IFC), the Multilateral Investment GuaranteeAgency (MIGA), and the International Centre for Settlement of InvestmentDisputes (ICSID). For more information, visit www.worldbank.org.
TheWorld Bank's Twin Goals
TheWorld Bank has twin goals of ending extreme poverty and promoting sharedprosperity. Its capacity to fulfill these goals is underpinned by a TreasuryVice Presidency ("Treasury") that is widely recognized across theglobal capital markets for its dynamic professionalism and its record ofinnovation in obtaining outperformance for its clients in all the Treasury'sfunctions.
TheWorld Bank Treasury
Areyou inspired by a global mission to end poverty? Do you want to build a careerin finance with a global impact? The World Bank Treasury is one of the fewplaces where you can be on the leading edge of finance as it sits at the onlynexus of finance, innovation, and international development. We manage theinstitution's finances to enable all World Bank operations and lending. Eachyear, we issue over $50 billion in bonds, prudently manage over $180 billion inassets, and process over $7 trillion in transactions.
Departments & Teams
Treasuryhas three departments and a compliance and controls team. Learn more about ourorganization: https://treasury.worldbank.org/en/about/unit/treasury/about/what-we-do
With us, you won't just workin financial markets: you'll help create new ones.
TheWorld Bank Treasury launched a global recruitment campaign to attract the bestand brightest talent in the world. We encourage you to learn more aboutTreasury, organization, people and careers at https://treasury.worldbank.org/careers.
Poverty has no borders, andneither does excellence.
Withemployees based in Washington, Chennai, and Tokyo, the World Bank Treasuryrepresents over 50 nationalities, and our leadership team hails from allregions of the world. We are proud to be an equal opportunity and inclusiveemployer. We have a dedicated and committed workforce and do not discriminatebased on gender, race, ethnicity, religion, disability, sexual orientation, orgender identity. Learn more about Treasury's greatest strength: its diverse anddedicated staff.
The TreasuryOperations Department (TREOP) provides a full range of operationalsupport for Treasury's capital markets, asset management, and banking businesses.The Department is presently organized in three operational units: Asset andLiability Operations (TREAL), Quantitative Solutions and Analytics (TREQA),Cash and Banking Operations (TREBK), and Financial Technology (TREFT).
The Quantitative Solutions and Analytics team (TREQA) isresponsible for developing and implementing quantitative models, financialsolutions and portfolio analytics for internal and external client fixed incomeinvestment portfolios, and providing valuation, performance reporting andguideline monitoring for those portfolios. The team also provides advisory andcapacity building in its areas of expertise for client central banks, sovereignwealth funds, pension funds and other strategic partners.
Duties and Accountabilities:
The Financial Officer will be a member of TREQA - Capital Markets Analytics (CMA) Team that focuses on the valuation and analytics to support the Funding Activity as well as the Asset Liability Management with roles and responsibilities outlined below:
1. Lead the design and implementation of quantitative financial valuation models and tools to facilitate execution of new capital markets transactions for the Bank portfolios, including but not limited to, bonds and derivatives with embedded options in interest, FX, and/or equity index.
2. Work with relevant teams in the World Bank's Finance & Accounting department for pre-trade model validation and post-trade verification of new models developed internally or externally in support of funding transactions, including selection of financial valuation model, identification of market data requirements, and preparation of required risk analyses and documentation to facilitate the validation and verification processes.
3. Engage, and collaborate with various internal units (Model validation, Risk and Operations) to secure new transaction approval, and address any issues with respect to valuation, collateral, and risk.
4. Supervise, perform, and deliver timely monthly valuations for complex financial contracts, and work with model validators to resolve any valuation issues related to financial reporting.
5. Participate in discussion with internal, and external auditors, and act as subject matter expert with respect to valuation models.
6. Contribute to the Treasury Systems design and development of business requirements, testing of deliverables, and production implementation for all IT system enhancements to support existing and new funding transactions.
7. Contribute to the Capital Markets Department efforts related to LIBOR transitions including but not limited to system readiness and sourcing market data, propose and review curves construction, validate valuation results.
8. Contribute to the development of market risk or credit risk analytics needed by the Capital Markets department to facilitate execution of funding or any balance sheet optimization analysis.
9. Follow up on market development in the area of valuation and risk analytics and contribute to enhancement the Bank's valuation and risk analytics platform when necessary.
10. Provide analytical support to other units of the Treasury for the design of the Bank's financial solutions and financial services for clients.
11. Provide quantitative, and analytical support to respond to client's enquiries related to Capital Markets, and risk management products.
12. Provide training and guidance for Junior staff.
13. Any other duties as assigned.
Selection Criteria
1. Master's degree or above with 5 years of experience in a quantitative discipline such as finance, mathematics, physics or engineering, or an equivalent combination of education and experience.
2. 5+ years relevant work experience in valuation models, interest rate derivatives including exotics and/or financial platform implementation with focus on valuation, risk management and financial modeling. Experience managing financial IT implementations and/or deployments is strongly preferred.
3. Expertise in Murex and Numerix Cross Asset / OneView are strongly preferred.
4. Strong theoretical and practical experience with derivative instruments.
5. Experience with capital markets, market conventions, and market data.
6. Proven quantitative and qualitative analytical skills in the area of valuing/pricing of complex structures; including knowledge of econometric and financial modeling techniques, multi-factor Monte Carlo simulation techniques and option pricing methodologies.
7. Working experience in time series analysis in general, econometrics modelling, or actuarial science is a plus.
8. Great teamwork and communication skills.
9. Professional Certification in CFA, FRM, or PRM is strongly preferred.
10. Working experience with one or more of the following languages: Python, VBA, Matlab, R, etc.
11. Original thinking and quick learning abilities with strong initiative and drive.
12. Highest ethical standards
**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 #:
req32692
Organization:
World Bank
Sector:
Treasury
Grade:
GF
Term Duration:
3 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Preferred Language(s):
Closing Date:
4/22/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
The World Bank
TheWorld Bank is one of the world's largest sources of funding and knowledge fordeveloping countries and works in more than 100 developing economies to improveliving standards and fight poverty. For each client, the World Bank usesfinancial resources and extensive experience to help our client countries toreduce poverty, increase economic growth, and improve quality of life. Thereare five World Bank Group institutions, each of which specializes in differentaspects of development: the International Bank for Reconstruction andDevelopment (IBRD), the International Development Association (IDA), theInternational Finance Corporation (IFC), the Multilateral Investment GuaranteeAgency (MIGA), and the International Centre for Settlement of InvestmentDisputes (ICSID). For more information, visit www.worldbank.org.
TheWorld Bank's Twin Goals
TheWorld Bank has twin goals of ending extreme poverty and promoting sharedprosperity. Its capacity to fulfill these goals is underpinned by a TreasuryVice Presidency ("Treasury") that is widely recognized across theglobal capital markets for its dynamic professionalism and its record ofinnovation in obtaining outperformance for its clients in all the Treasury'sfunctions.
TheWorld Bank Treasury
Areyou inspired by a global mission to end poverty? Do you want to build a careerin finance with a global impact? The World Bank Treasury is one of the fewplaces where you can be on the leading edge of finance as it sits at the onlynexus of finance, innovation, and international development. We manage theinstitution's finances to enable all World Bank operations and lending. Eachyear, we issue over $50 billion in bonds, prudently manage over $180 billion inassets, and process over $7 trillion in transactions.
Departments & Teams
Treasuryhas three departments and a compliance and controls team. Learn more about ourorganization: https://treasury.worldbank.org/en/about/unit/treasury/about/what-we-do
With us, you won't just workin financial markets: you'll help create new ones.
TheWorld Bank Treasury launched a global recruitment campaign to attract the bestand brightest talent in the world. We encourage you to learn more aboutTreasury, organization, people and careers at https://treasury.worldbank.org/careers.
Poverty has no borders, andneither does excellence.
Withemployees based in Washington, Chennai, and Tokyo, the World Bank Treasuryrepresents over 50 nationalities, and our leadership team hails from allregions of the world. We are proud to be an equal opportunity and inclusiveemployer. We have a dedicated and committed workforce and do not discriminatebased on gender, race, ethnicity, religion, disability, sexual orientation, orgender identity. Learn more about Treasury's greatest strength: its diverse anddedicated staff.
The TreasuryOperations Department (TREOP) provides a full range of operationalsupport for Treasury's capital markets, asset management, and banking businesses.The Department is presently organized in three operational units: Asset andLiability Operations (TREAL), Quantitative Solutions and Analytics (TREQA),Cash and Banking Operations (TREBK), and Financial Technology (TREFT).
The Quantitative Solutions and Analytics team (TREQA) isresponsible for developing and implementing quantitative models, financialsolutions and portfolio analytics for internal and external client fixed incomeinvestment portfolios, and providing valuation, performance reporting andguideline monitoring for those portfolios. The team also provides advisory andcapacity building in its areas of expertise for client central banks, sovereignwealth funds, pension funds and other strategic partners.
Duties and Accountabilities:
The Financial Officer will be a member of TREQA - Capital Markets Analytics (CMA) Team that focuses on the valuation and analytics to support the Funding Activity as well as the Asset Liability Management with roles and responsibilities outlined below:
1. Lead the design and implementation of quantitative financial valuation models and tools to facilitate execution of new capital markets transactions for the Bank portfolios, including but not limited to, bonds and derivatives with embedded options in interest, FX, and/or equity index.
2. Work with relevant teams in the World Bank's Finance & Accounting department for pre-trade model validation and post-trade verification of new models developed internally or externally in support of funding transactions, including selection of financial valuation model, identification of market data requirements, and preparation of required risk analyses and documentation to facilitate the validation and verification processes.
3. Engage, and collaborate with various internal units (Model validation, Risk and Operations) to secure new transaction approval, and address any issues with respect to valuation, collateral, and risk.
4. Supervise, perform, and deliver timely monthly valuations for complex financial contracts, and work with model validators to resolve any valuation issues related to financial reporting.
5. Participate in discussion with internal, and external auditors, and act as subject matter expert with respect to valuation models.
6. Contribute to the Treasury Systems design and development of business requirements, testing of deliverables, and production implementation for all IT system enhancements to support existing and new funding transactions.
7. Contribute to the Capital Markets Department efforts related to LIBOR transitions including but not limited to system readiness and sourcing market data, propose and review curves construction, validate valuation results.
8. Contribute to the development of market risk or credit risk analytics needed by the Capital Markets department to facilitate execution of funding or any balance sheet optimization analysis.
9. Follow up on market development in the area of valuation and risk analytics and contribute to enhancement the Bank's valuation and risk analytics platform when necessary.
10. Provide analytical support to other units of the Treasury for the design of the Bank's financial solutions and financial services for clients.
11. Provide quantitative, and analytical support to respond to client's enquiries related to Capital Markets, and risk management products.
12. Provide training and guidance for Junior staff.
13. Any other duties as assigned.
Selection Criteria
1. Master's degree or above with 5 years of experience in a quantitative discipline such as finance, mathematics, physics or engineering, or an equivalent combination of education and experience.
2. 5+ years relevant work experience in valuation models, interest rate derivatives including exotics and/or financial platform implementation with focus on valuation, risk management and financial modeling. Experience managing financial IT implementations and/or deployments is strongly preferred.
3. Expertise in Murex and Numerix Cross Asset / OneView are strongly preferred.
4. Strong theoretical and practical experience with derivative instruments.
5. Experience with capital markets, market conventions, and market data.
6. Proven quantitative and qualitative analytical skills in the area of valuing/pricing of complex structures; including knowledge of econometric and financial modeling techniques, multi-factor Monte Carlo simulation techniques and option pricing methodologies.
7. Working experience in time series analysis in general, econometrics modelling, or actuarial science is a plus.
8. Great teamwork and communication skills.
9. Professional Certification in CFA, FRM, or PRM is strongly preferred.
10. Working experience with one or more of the following languages: Python, VBA, Matlab, R, etc.
11. Original thinking and quick learning abilities with strong initiative and drive.
12. Highest ethical standards
**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.