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The World Bank Group’s Finance, Competitiveness & Innovation Global Practice (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. Through this work, FCI strengthens the World Bank Group’s evolving approach to development finance: to maximize finance for development and to leverage private sector investments for sustainable and inclusive growth.
The World Bank Group’s Finance, Competitiveness & Innovation Global Practice (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.
Through this work, FCI strengthens the World Bank Group’s evolving approach to development finance: to maximize finance for development and to leverage private sector investments for sustainable and inclusive growth.
Globally, FCI leads the institution’s dialogue on financial sector policies and private sector development, as well as engagement with various standard-setting bodies, such as the G20, Financial Stability Board, the UN, etc.
Within countries, FCI works with governments to create an enabling environment where financial stability, access to finance and risk management provide a foundation to crowd-in private sector investment, create capital markets, and accelerate equitable growth.
At the same time, the practice is focused on identifying firm- and industry-level constraints to deliver reforms which can drive growth and accelerate job creation (including access to finance, innovation, special economic zones, industry solutions, entrepreneurship, etc.). Boosting firm-level efficiency and productivity centers on adopting better technologies, including digital ones.
FCI comprises close to 800 staff working across more than 120 countries.
The Practice focuses on six thematic areas:
• Financial Stability & Integrity (ensuring countries’ financial systems are stable, deep and transparent)
• Financial Inclusion, Infrastructure & Access (ensuring all adults in society have access to financial services to improve their lives)
• Firm Capabilities & Innovation (creating enabling environment for businesses to be competitive, efficient and cutting-edge)
• Industry Solutions (analyzing and identifying bottlenecks and opportunities for growth across and within entire economic sectors)
• Long-Term Finance (helping countries develop capital markets and attract private sector finance & investment)
• Climate & Risk Management (working with countries to become more resilient and able to mitigate financial cost of disasters)
Within the Global Practice, the Long Term Finance global solutions team leads WBG advisory operations to provide sustainable, long term finance for strategic sectors (e.g. infrastructure, housing, SMEs) through development of local securities markets, mainly for bonds, institutional investors, and funds, and stronger safety nets through improved access to quality pension and insurance products and services. The team interacts closely with other practices, cross-cutting thematic groups, and WB and IFC Treasury and investment departments to create integrated advisory and financing programs that better support clients in addressing large-scale development needs. It represents the WBG on standard-setting bodies, including the International Organization of Securities Commissions, International Association of Insurance Supervisors, and International Organization of Pension Supervisors. The work agenda also includes building government bond markets for better fiscal/macro management and financial stability and sovereign wealth funds.
The Senior Securities Market Specialist will be a member of the Long Term Finance / Government Bond Market Team and report to the relevant Practice Manager as line manager.
The position is based in Washington, DC, and involves frequent travel.
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 year term appointment.
GFCLT (Finance, Competitiveness and Innovation – Long Term Finance) is looking for a Senior Securities Market Specialist to be an integral part of the group’s global operations, with an emphasis on developing domestic government debt markets. More specifically to:
• Provide high quality advice to emerging market countries on development of domestic securities markets, with a focus on domestic government debt markets.
• Design and manage advisory services projects, including staffing and managing teams, providing technical guidance and oversight, being responsible for delivery of outputs, and managing client relationships.
• Support strategy development and management of global government debt market operations.
• Contribute to broader securities markets operations, including financial sector assessments and development of capital markets-based solutions for financing of critical sectors such as housing and infrastructure.
• Build and manage relationships with key government and industry officials in emerging and developed markets for knowledge and contacts.
• Educate clients in and outside the World Bank Group on industry trends and best practices in global and emerging securities markets. Prepare publications and other materials to contribute to the knowledge base on securities markets issues.
The ideal candidate will possess the following qualifications:
• A Master’s degree in economics, finance, public finance or financial economics
• Have an advanced degree (MBA or equivalent) is a plus
• At least 8 years of experience in a government debt management operations, public finance and fiscal analysis.
• Accomplished senior securities market professional.
• Extensive experience in and strong knowledge of government debt markets and debt management in developed and emerging market countries, and industry or debt management office experience combined with knowledge of market development issues.
• Additional background and knowledge of capital market products beyond the government securities markets. Experience in capital markets-based infrastructure financing and/or other financing vehicles for firms, housing or agriculture finance is a plus.
• Demonstrated ability to work effectively with high level officials in government and the private sector with strong government and industry contacts. Ability to represent the World Bank Group in international fora.
• Strong management skills, with proven ability to design and manage complex and global projects and achieve clear results in multicultural environments.
• Strong analytical, writing, and communication skills and proven ability to publish.
• Strong team player and strong ability to effectively lead and guide teams.
• Willingness and ability to undertake extensive travel.
The Senior Securities Market Specialist should be able to demonstrate the following competencies:
• Technical Expertise: Demonstrate in depth knowledge and experience in capital markets especially on the development of domestic government bond markets with an ability to expand to other products such as infrastructure financing, housing, agriculture finance and corporate financing vehicles; demonstrate international experience in developing & emerging markets. Participate fully in the production of quality analytical work and policy papers, leveraging relevant analytical tools and a grasp of issues surrounding policy and sector reform.
• Operational Project Management: Demonstrates in depth knowledge and understanding of project management tools & methodologies, as well as of Bank instruments and processes related to project preparation & implementation, resource management, and stakeholder communications.
• Lead and Innovate – Develops innovative solutions with others.
• Deliver Results for Clients – Achieves results and identifies mission-driven solutions for the client.
• Collaborate Within Teams and Across Boundaries – Initiates collaboration across boundaries and broadly across WBG, and brings differing ideas into the forefront.
• Create, Apply and Share Knowledge – Creates, applies and shares knowledge from across and outside WBG to strengthen internal and/or external client solutions.
• Make Smart Decisions – Recommends and takes decisive action.
The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.
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