Finance and Markets

Roles in Finance and Markets

The Financial Sector Specialist will be responsible for setting and leading the policy dialogue on behalf of the WBG-related to the capital markets, pensions, insurance, and investment funds area. The high-level ToR is to:

  • • Support the F&M GP Leadership in setting the strategic direction and policy in their particular solutions area
  • • Advise on mobilization of talent across the WBG for their relevant thematic area
  • • Carry-out quality enhancement reviews on behalf of the F&M GP to ensure for a consistent policy approach, notably across country activities. 
  • • Represent internally and externally the F&M GP and global solutions group on their topic area, engage with clients and help develop business on behalf of the GP.
  • • Support the development of cutting edge knowledge in their topic area. 
 

Selection Criteria

Minimum Education/Experience:

Master’s degree in a relevant discipline (for example, finance, economics, public policy) or equivalent combination of education and experience:

Lead Financial Sector Specialist – at least 12 years + advanced degree (Masters or PhD)

Senior Specialist – at least 8 years + advanced degree (Masters or PhD)

Specialist – at least 5 years + advanced degree (Masters or PhD)

Preferred Experience for Lead and Senior Specialists roles:

  • Recognized internally and externally as an authority/leader in the field of capital markets, pensions, insurance, and investment funds or a large portion of this area
  • Demonstrated track record to work across institutional boundaries 
  • Able to lead and inspire around a common vision, and strong mentoring skills 
  • Excellent client skills and track record in delivering successful financial and advisory solutions 
  • Strong leadership in creating world class knowledge collateral and leading communities of practice

The Finance and 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 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 $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, global leads who help in setting the direction of the Practice, and CGAP, which has a dedicated Director. Thematically, the practice is organized into three global solutions groups. The first groups activities aimed at Strengthening the foundations of stable financial systems and markets by supporting global financial sector oversight frameworks and policies; strengthening banking regulation and restructuring regimes; improving financial sector integrity efforts and deepening capital markets, insurance, pensions and investment funds; the second Improving financial infrastructure and access through its work on credit infrastructures; payment and market infrastructures; responsible financial access: and SME finance, and 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.

The Capital Markets, Pension, Insurance, and Investment Funds Global solutions team leads WBG advisory operations to provide sustainable, long term finance for strategic sectors (for example, 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 Financial Market Integrity Global Solutions Team leads the World Bank activities on anti-money laundering and countering the financing of terrorism, asset recovery, tackling financial crime and improving corporate governance. It plays a critical and leadership role in the growing activities of the World Bank Group on Illicit Financial Flows. The GST leads WBG engagement with the relevant international standard setters (UN, FATF, OECD) and designs and delivers advisory services and knowledge development on these issues. It ensures the most effective articulation between Global and Country engagements on these subject matters. The GST is also an active participant to the World Bank Group activities on broader financial sector issues, the promotion of good governance and the fight against corruption.


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