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. Please visit www.worldbank.org.
The FCI Global Practice
The World Bank’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’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.
Long Term Finance Unit Overview
The World Bank's Long-Term Finance (ENFLT) Global Solutions Team helps countries design and implement: i) targeted policy and regulatory interventions to create an environment conducive for long term investments, and ii) tailored, country-specific, innovative financial instruments and derisking solutions to mobilize long-term capital from domestic and international institutional investors to close their financing gaps. The LTF team also plays a key role in international regulatory discussions and through standard setting bodies such as the International Organization of Securities Commissions, and the International Association of Insurance Supervisors. We work on the linkages between strategic sectors of the real economy – infrastructure, housing and corporate, SMEs and agriculture – and the financial sector, specifically through developing capital markets and increasing the supply of institutional investors' assets (primarily pensions & insurance) to safely fund long-term investments.
The Role: Senior Financial Sector Specialist (Infrastructure Finance)
The global infrastructure investment gap has reached unprecedented levels: from USD 0.7 trillion in 2017 to USD 3 trillion in 2022, particularly affecting emerging markets. Governments and multilateral development banks (MDBs) alone cannot bridge this enormous gap. Therefore, the imperative lies in mobilizing private infrastructure investment in emerging markets, where potential remains untapped and where capital could be mobilized from large capital providers such as institutional investors (pension funds, insurance companies), sovereign wealth funds etc. The LTF team plays a key role, working with emerging market economies, in the design and implementation of a programmatic approach involving policy and regulatory reform, upstream reforms to create bankable projects, design of financing solutions through a combination of capital and financial market financing instruments and de-risking solutions, capacity building of relevant stakeholders, support to development finance institutions focused on infrastructure finance and creation of co-investment opportunities for financiers.
The World Bank is looking to hire a Senior Financial Sector Specialist to be a member of the Long-Term Finance, with a focus on infrastructure finance through financial market solutions. He/she will report to the Practice Manager. The position is based in Washington, DC, and involves frequent travel.
Duties & Responsibilities:
Within the focus sectors above, the Senior Financial Sector Specialist will be an integral part of the group’s activities. His/Her responsibilities will include (but not be limited to):
• Lead advisory services and contribute to lending projects, providing technical guidance and oversight, managing teams of WB staff and external experts, being responsible for delivery of outputs, and managing client relationships.
• Identify bottlenecks and challenges limiting private sector and financing for infrastructure, and provide high quality and strategic advice on the development of infrastructure finance strategies and solutions tailored to country specific context, particularly given the diversity of frontier and emerging market countries. The objective would be to develop a programmatic approach to mobilize private sector with efficient, scalable and sustainable financing solutions for country’s infrastructure investment needs.
• Support the regional teams in designing and implementing projects involving aspects related to infrastructure finance, leading advisory and technical assistance initiatives, monitoring and implementing analytical sector work, with a focus on i) identify policy and regulatory frameworks to leveraging private sector investment in infrastructure in a scalable way ii) identify suitable financing solutions for the context of the sector and structure of the domestic financial sector. Also, ability to identify regional opportunities for infrastructure opportunities, where necessary and appropriate including working through specialized financial institutions. Develop and promote the use of innovative financial instruments and vehicles (such as infrastructure project bonds, infrastructure funds/SPVs, sustainability bonds etc) and private capital that can be leveraged most efficiently through blended finance and de-risking solutions.
• Contribute to existing or design prospective World Bank lending operations related to infrastructure finance (directly or through regional teams); being able to identify appropriate policy reforms or relevant interventions appropriate for World Bank operations. Participate in assessments and diagnostics such as financial sector assessment programs (FSAP) or infrastructure sector assessment (Infrasap) where necessary.
• Build and manage relationships with key government and industry officials or associations in emerging and developed markets for knowledge and contacts.
• Provide global advice to Bank staff, sharing best practices, drafting policy reports and research papers, and participating in knowledge management initiatives – including webinars, seminars and training sessions with a focus on issues related to infrastructure financing.
• Guide and support junior staff in the unit and consultants, providing coaching, advice and quality control, to contribute building in-house capacity on government bond market advisory services.
• Cooperate with other WB units (such as the Infrastructure, PPPs and Guarantee team, MIGA, Climate Change, and relevant units of the IFC), the broader LTF team integrating capital markets work where relevant in other work streams and vice versa;
Other duties and tasks as might be specified by the EFNLT Practice Manager.
