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Saturday, March 2, 2024

Financial Sector Specialist -World Bank

Background / General description:

The Finance & Markets Global Practice aims to help countries build deep, diversified, inclusive, efficient and stable financial systems which are essential to promoting economic growth and reducing poverty and increasing shared prosperity. The practice is committed to delivering public and private sector tailored solutions to development challenges by leveraging the whole range of the Bank Group’s financial, knowledge/advisory and convening services for clients. In doing so, the practice not only partners with the broader World Bank Group finance team (IFC, WB, MIGA and WB/IFC Treasuries) but also acts as an enabler for all of the other GPs and Cross-Cutting Groups.

As a joint World Bank -IFC practice, the Finance & Markets Practice brings together the World Bank’s knowledge, finance (loans, credits, guarantees, risk management products), and convening services, and IFC advisory at the industry and public sector level into a single suite of development solutions for our clients and the global community to support reaching the twin goals of eliminating extreme poverty and promoting shared prosperity.

Today, this suite of financial solutions is in excess of US$10 billion in current and pipeline engagement commitments. We also have an ongoing portfolio of about 400 knowledge activities (with costs up to $73 million) and 98 IFC advisory services (valued at $136 million).

Led by a Senior Director and two Directors, the practice is managed by a cadre of 14 Practice Managers who oversee its regional teams and global solutions groups, and the Consultancy Group to Assist the Poor (CGAP), which has a dedicated Director.

Thematically, Finance and Markets Practice is organized into three global solutions groups. (i) The first groups activities aimed at strengthening the foundations of stable financial systems and markets by supporting global financial sector oversight frameworks, policies and enhancing financial safety nets; strengthening banking regulation and resolution regimes; improving financial sector integrity efforts and deepening capital markets, insurance, pensions and investment funds; (ii) the second improving financial infrastructure and access through its work on credit infrastructures; payment and market infrastructures; responsible financial access, and Small and Medium Enterprise (SME) finance, and (iii) the third on partnering with other practices on frontier development finance initiatives such as climate change finance, disaster risk finance and insurance, infrastructure finance, agriculture finance and housing finance.

Duties and Accountabilities:

This will be a Financial Sector Specialist position, for a 2 year period, with a possibility to extend based on successful completion and availability of funding. The position requires profound knowledge of financial sector operations and development issues, a mix of operational and analytical skills, the demonstrated ability to effectively communicate and work in a multi-cultural environment, have sufficient experience in financial sector, demonstrate ability to work in a team and meet stringent deadlines.

The Financial Sector Specialist will be based in Baku and report to the Practice Manager and Country Manager and be managed and overseen on a daily basis by the projects’ managers based in Washington DC. The selected candidate will work closely with other staff in HQ and in the field office, as well as with senior external experts that are part of the team.

Please register in World Bank Recruitment System http://web.worldbank.org/external/default/main?pagePK=8454041&piPK=8454059&theSitePK=8453353&JobNo=161382&order=descending&sortBy=job-req-num&location=ALL&menuPK=8453611&JobType=Professional+%26+Technical&JobGrade=GF to apply to the vacancy.

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