ย
ย Description
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 visitย www.worldbank.org.
Equitable Growth, Finance, and Institutions Practice Group:
The Equitable Growth, Finance, and Institutions Practice Group (EFI) is one of the World Bank Groupโs four Practice Groups. EFIโs mandate is โGrowth, Finance, and Institutions for all.โ Our approach is to leverage public and private sector expertise, together with International Finance Corporation (IFC), to support a data-driven reform agenda. EFI supports clients in advancing evidence-based structural reforms to build the foundations for inclusive and sustainable growth.
EFI is composed of four Global Practices (GPs):
Macroeconomics, Trade, and Investment (MTI) โ consists of country economists and trade, financial and private development specialists that support structural reforms.
Governance GP โ consists of public sector, financial management and procurement specialists to support institutional and governance reforms and provide fiduciary support to all Bank operations.
Poverty and Equity GP โ consists of micro, labor, and development economists to build the evidence base, provide advice and operational support to ensure country policies and WBG interventions are inclusive.
The Finance, Competitiveness, and Innovation (FCI) GP is comprised of two directorates: The Finance directorate, and the Trade, Investment and Competitiveness (TIC) directorate. The GP aims to support client countries to create an enabling environment in which financial stability, efficiency and firm-level solutions are provided in an integrated way to crowd in the private sector, support the creation of markets, and accelerate equitable growth.
The Finance Directorate provides analytical and advisory support to the international community to enact reforms that lead to deep, inclusive, efficient, and resilient financial systems. The Directorate is comprised of thematic teams focused on (i) Financial Stability and Integrity, (ii) Financial Inclusion and Infrastructure, (iii) Long term finance and (iv) Crisis and disaster risk finance.The Financial Stability & Integrity unit (EFNFS) in the FCI Global Practice works on a range of areas, including financial stability, bank regulation and supervision, bank resolution and crisis management, corporate governance, financial integrity, and asset recovery. Within EFNFS, the stability team assists national authorities to improve the prudential policy, legal, regulatory, supervisory, and institutional framework needed to achieve and sustain financial sector stability, engages with standard setters bringing in the perspectives of emerging markets and developing economies (EMDEs), and produces analytical work. The (global) stability team provides technical inputs (including as technical project leads) to region-led advisory/analytical operations and lending operations and conducts country-level diagnostics and knowledge work on regulation and supervision of deposit taking institutions, bank resolution and crisis management, and other aspects related to financial stability. It also manages the financial sector assessment programs (FSAPs), coordinates the World Bank engagement with the Financial Stability Board (FSB) and is the lead technical provider for assessments of compliance with the Basel Core Principles for effective banking supervision (BCPs).
Role & Responsibilities:
The successful candidate will be responsible for leading and executing technical work in the field of banking, with a specific focus on regulation and supervision. This includes providing technical assistance, conducting policy analyses, and contributing to Financial Sector Assessment Programs (FSAPs), including serving as an assessor of compliance with the Core Principles for effective banking supervision issued by the Basel Committee on Banking Supervision. Additionally, as part of the World Bank's global engagement, the candidate will offer insights to senior management on all matters related to banking regulation and supervision. Furthermore, he/she will actively participate in designing and implementing technical assistance programs in World Bank client countries within his/her areas of expertise.
Specific duties and accountabilities include:
โข Providing cutting-edge advisory services on banking regulation and supervision, including the development and execution of risk-based approaches and the formulation of regulations aligned with international standards (such as Basel III) tailored to meet the requirements of low and middle-income jurisdictions.โข Promoting the adoption and implementation of international best practices in World Bank client countries to facilitate the sound development of banking intermediation.โข Conducting assessment of compliance with the Basel core principles (BCP) for effective banking supervision and other banking analyses in the context of Financial Sector Assessment Programs (FSAPs).โข Guiding and supervising the development of World Bank initiatives (both lending and non-lending) aimed at enhancing financial sector resilience and transformation in World Bank client countries, with a specific focus on banking, financial regulation, and supervision domains.โข Analyzing international practices and emerging literature concerning specific issues related to banking (including banking risk analyses) and banking regulation and supervision (e.g. bank governance, related-party lending, NPL management, operational resilience, and cyber- and climate-related financial risks) and contributing to the development of knowledge products such as policy notes, articles, blogs, and other publications.โข Conducting (or contributing to) forward-looking risk assessments of financial systems and individual institutions to identify key financial stability risks (including credit and liquidity risks, interconnectedness, sovereign-bank nexus etc.)โข Preparing on-demand written notes, papers, reports, etc., that analyze policy issues and implementation challenges, and advocating and supporting recommendations and good practices for banking, banking regulation, and supervision.โข Representing the World Bank in international fora as required, such as the Basel Consultative Group or the FSB Resolution Steering Group.โข Providing compelling presentations on banking regulation and supervision to disseminate policy analysis and recommendations, including in workshops, conferences, and meetings.
Selection Criteria
โข Masterโs degree in a relevant discipline (e.g. finance, economics, public policy, international relations, law), with at least ten years work experience in financial sector regulatory and supervisory agencies or similar agencies and bodies, with lead experience in banking regulation and supervision;
โข Thorough knowledge of Basel III and other key Basel requirements (and their transposition by jurisdictions);
โข Excellent knowledge and experience in banking regulation and supervision, including supervision of individual banks and groups, compliance with regulatory standards, governance of the supervisory process, corrective actions and enforcement;
โข Direct experience in supervising complex financial institutions, analyzing their risk profiles and formulating advice to address identified weaknesses;
โข Robust knowledge of International Financial Reporting Standards (including IFRS 9);
โข State-of-the-art knowledge on financial matters and ability to identify and address complex issues broader than own specialty at sector/country level;
โข Solid understanding of macro-financial issues and ability to link micro- and macro-financial aspects;
โข Demonstrated intellectual leadership;
โข Previous exposure to financial sector crisis preparedness and management is a plus;
โข Proven capacity to apply best international practices in an EMDE context;
โข Direct experience in assessing risks and stress of financial institutions, and designing mitigating measures;
โข Strong sense of strategy, including ability to conceptualize, prioritize and be selective;
โข Demonstrated ability to rapidly acquire new skills and knowledge;
โข Excellent organizational, analytical and prioritization skills, with ability to follow assigned tasks/projects through to completion;
โข Excellent written and oral communication skills (incl. ability to write reports for senior policy makers) and demonstrated ability to advocate positions;
โข Fluency in English is required, fluency in French or Spanish is desirable;
โข Willingness to undertake frequent travel.
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 theย World Bankย andย IFC, including our values and inspiring stories.