Financial Officer- The World Bank

The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, is an international organization committed to promoting foreign direct investment in its developing country members in order to support economic growth, reduce poverty and improve people’s lives. MIGA fulfills this mandate by issuing guarantees against non-commercial risks (political risk) to investors and lenders, covering: expropriation, breach of contract, currency transfer restrictions, war and civil disturbance, non-honoring of sovereign financial obligations, and non-honoring of financial obligations by state-owned enterprises. For the fiscal year ended June 30, 2014, MIGA issued $3.2 billion in guarantees, had a gross portfolio of $12 billion and approximately 130 staff.

MIGA’s operational priorities focus on investments in the world’s poorest countries and investments in conflict-affected environments, providing support for complex deals, particularly projects involved in infrastructure and extractive industries, and supporting South-South investments.

The four Departments of MIGA namely; Operations Department (MIGOP), Economics and Sustainability Department (MIGES), Legal Affairs and Claims Department (MIGLC), and Finance and Risk Department (MIGFR) all work together to extend insurance to developmentally sound cross-border investments made in member countries.

The Finance and Risk Department (MIGFR), of which the Risk Analytics team is part, acts as the custodian of MIGA’s financial integrity with a focus on both income sustainability and balance sheet strength. The Risk Analytics team also provides analytical support for the effective implementation of MIGA’s operational work program.

Duties and Accountabilities:

• Be part of a core team responsible for risk-based pricing of MIGA’s guarantees, to ensure timely pricing information to Underwriters.

• Provide underwriters with analytical support and recommendations for net retention/reinsurance decisions and input to Underwriting papers’ annexes. Perform risk-return analysis for pipeline of multiple new guarantees.

• Support underwriters in calculating upfront premium payment amounts, validate models developed by underwriting teams.

• Maintain and regularly update standardized pricing tables and online pricing tool for direct use by MIGA’s underwriters; help further develop the pricing tool.

• Together with second team member, lead quarterly calculation of MIGA’s reserves for potential claims losses.

• Lead quarterly variance analysis of MIGA’s reserves for potential claims losses.

• Regularly assess MIGA’s financial sustainability and capital adequacy position and outlook; perform projections, scenario analysis and stress testing.

• Prepare projections of MIGA’s exposure and income; maintain and update projection model; provide analysis and commentary for budget and strategy update reports; contribute to presentation material for MIGA Senior Management and World Bank Group reports.

• Contribute analysis and write sections for annual Portfolio Review and Capital Adequacy Board paper.

• Regular (quarterly and monthly) updating of the various risk models maintained and developed by the team: (i) Capital adequacy, (ii) Provisioning, (iii) Pricing, (iv) Portfolio risk analytics and income projections.

• Lead testing of MIGA’s new economic capital model.

• Contribute to review of MIGA’s pricing mechanics with help of consultant and streamlining of MIGA’s online pricing tool.

• Take part in development and implementation of financial policy, pertaining to MIGA’s risk management.

• Undertake ad-hoc analytical tasks for MIGA’s Director of Finance and Risk and other Senior Management members, in areas such as risk, capital adequacy, and financial sustainability analysis.

Desired Skills and Experience

• Master’s degree in finance, economics or related discipline.

• Minimum of 5 years of experience in finance and risk management, economic research, or related field, or equivalent combination of education and experience.

• Strong knowledge of complex financial modeling in Excel, and maintenance of spreadsheets, including VBA for Excel.

• Strong background in statistical data analysis. Knowledge of statistical software products such as STATA or SAS would be a plus.

• Experience with the Bloomberg terminal would be a strong plus.

• Knowledge of Matlab would be a plus.

• Experience with credit markets would be a plus, as would knowledge of insurance or guarantee products.

• Excellent organizational skills, ability to prioritize assignments, and work effectively often under time pressure and with minimum supervision.

• High level of proficiency in Microsoft Word and PowerPoint.

The World Bank Group is committed to achieving diversity in race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply.

For further details and to apply, please go to www.worldbank.org/careers and under “current job openings” seek vacancy number 150741. Deadline for applications May 4, 2015.