Ongoing Recruitment at World Bank Group

The World Bank Group - Established in 1944, the WBG is one of the world’s largest sources of funding and knowledge for development solutions. In fiscal year 2018, the WBG committed $67 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $24 billion was concessional finance to its poorest members. It is governed by 188-member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.

We are recruiting to fill the following positions below:

1.) Financial Sector Specialist

Job ID: req26900
Job Location: Abuja
Grade: GF
Duration:  4 years 0 months
Sector: Private Sector Development

Scope of Work

• This recruitment is for a Financial Sector Specialist based in Abuja, Nigeria with a reporting line to the Regional FCI Practice Manager (EAWF2).
• The focus of the role is on buttressing financial stability and integrity within Nigeria’s financial systems with potential responsibilities in the broader financial sector work program and elsewhere in the West Africa unit sub-region.

Amongst other tasks, the selected candidate will be expected to:

• Monitor and identify potential sources of systemic risk in the Nigerian financial system, with a focus on the banking and securities market. This requires both qualitative and quantitative systemic risk monitoring, in particular quantitative analysis leveraging large, granular proprietary datasets and harnessing market intelligence. It also entails the tracking and analysis of banking regulations issued by CBN from time to time. These analyses feeds into policy discussions at the highest levels and is a core component of the World Bank’s semi-annual Nigeria Development Update.
• Undertake regular review of the financial safety net and crisis management frameworks in the country to identify changes that may be needed as the sources of risks evolve and in adapting best practices and standards that may be issued by international standard setting bodies, drawing on the expertise of FCI’s global teams, as necessary.
• Provide technical support in rectifying existing Anti-Money Laundering/Terrorist Financing (AML/CFT) deficiencies in the country.
• Support quality implementation of ongoing FCI lending operations, analytical and advisory services work.
• Work closely with FCI’s focal point for financial sector development, program leaders/country economists and the country management unit (CMU) to ensure the integration of relevant financial stability and integrity issues in country strategies such as Systemic Country Diagnostic, Country Partnership Framework, Country Private Sector Diagnostic.
• Produce technical notes, briefings, presentations, etc. as requested by management.

Selection Criteria

• Master's Degree in the areas of Finance, Business, Management, Economics, or related discipline. Central Bank experience is an added advantage.
• At least 5 years of relevant professional experience with a focus on macroprudential policies, financial stability, systemic risk assessment and financial regulation and supervision.
• Knowledge and experience of policy and regulatory reforms related to financial sector development in emerging markets.
• Ability to operate effectively in a matrix management environment, both as a team leader and team member.
• Ability to deal sensitively in multi-cultural environments and build effective working
• Strong understanding of stakeholders in the financial sector landscape in Nigeria across policymakers, regulators, market participants, and users.
• Strong skills in conducting policy analysis, identifying policy reforms, and implementing policy actions across financial stability and integrity.
• Solution-oriented approach focusing on problem-solving and achieving results.
• Relations with clients and colleagues.
• Effective verbal and written communication skills

Application Closing Date: 15th April, 2024.

Click here to apply online

2.) Private Sector Specialist

Job ID: req26901
Job Location: Abuja
Grade: GF
Duration: 4 years 0 months
Sector: Private Sector Development

Scope Work

• This recruitment is for a Private Sector Specialist based in Abuja, Nigeria with a reporting line to the Regional FCI Practice Manager (EAWF2).

Amongst other tasks, the selected candidate will be expected to:

• Support the FCI dialogue in country with a focus on private sector development: Support the policy dialogue with counterparts on issues relating to private sector development, particularly focusing on creating opportunities for investments supporting economic transformation and employment.
• Serve, when needed, as team member or co-TTL/TTL (Task Team Leader) for lending operations, advisory, and analytical work, and contribute to the delivery and quality of financing and knowledge engagements for Nigeria, provide inputs to other Global Practices on private sector related issues.
• Analytical & Advisory work: Support the development and implementation of high-quality analytical and advisory work. Lead/support policy dissemination events with policy makers, stakeholders, and private sector.
• Support the dialogue with the country management unit (CMU) and with the region: Work closely with FCI’s focal point for private sector development, program leaders/country economists and the CMU to prepare inputs for briefings and strategic documents such as CPFs, SCDs and CPSDs.
• Work collaboratively with global teams, the International Finance Corporation (IFC) and other GPs to develop a comprehensive private sector development agenda to support private investment in Nigeria at the Federal and at the State level.
• Produce technical notes, briefings, presentations, etc. on private sector development, competitiveness/entrepreneurship, and innovation; Investment climate reforms as requested by management. 
• Relationship management: cultivate strategic relationships with government counterparts and other key stakeholders.
• Development Partner Collaboration: Support the partnership with the development partner community and facilitate/participate in formal and informal meetings with key development partners, civil society, private sector representatives, and other stakeholders.

Selection Criteria

• Master's Degree or PhD in Economics, Business, International Relations, Finance, or similar.
• At least 5 years of relevant professional experience since completing university degree (i.e., Master’s). 
• Knowledge and experience of policy and regulatory reforms related to private sector development in emerging markets.
• Strong understanding of stakeholders in the private sector landscape in Nigeria across policymakers, regulators, market participants.
• Strong skills in conducting policy analysis, identifying policy reforms, and implementing policy actions on private sector development.
• Solution-oriented approach focusing on problem-solving and achieving results.
• Strong experience in private sector development, particularly focused on productivity, growth, investment climate reforms, innovation and entrepreneurship, small and medium enterprise development, trade and competition policies, for private investment, domestic and foreign, export promotion, and value chain development.
• Experience and understanding of Nigeria’s private sector issues. 
• Ability to operate effectively in a matrix management environment, both as a team leader and team member.
• Ability to deal sensitively in multi-cultural environments and build effective working
• Relations with clients and colleagues.
• Effective verbal and written communication skills

Language:

• Required Language: English

Application Closing Date: 16th April, 2024.

Click here to apply online

3.) Senior Investment Officer

Job ID: req27120
Job Location: Lagos
Sector: Investment
Grade: GG
Term Duration: 3 years 0 months
Job Type: Full-time
Business Segment: Business & Commercial Banking

Description

• IFC has embarked on an ambitious new growth strategy, the outcome of which will be to double our volume of business by 2030 and triple the work we do in Low Income Countries (LICs) and Fragile and Conflict affected States (FCS). To do so, IFC will need to deploy its full range of financing, mobilization, advisory, convening and thought leadership skills.
• This also calls for the need to generate our own opportunities by proactively working “Upstream” to create, deepen, and expand markets and opportunities for the private sector and to imagine, design and implement investment projects.
• The blended concessional facilities managed by BFD are structured to co-finance, along with IFC funding, investment projects to address market barriers in private sector projects. These funds are deployed alongside IFC's own resources, thus enabling IFC to invest in projects that would not otherwise take place without a co-investment on concessional terms or a performance-based incentive structure that encourages the achievement of additional development outcomes.
• The BFD’s role is to optimize the co-investment of funds from contributors on concessional terms, considering the contributors' strategic priorities and risk appetite, in line with IFC’s blended finance governance framework.   
• The Blended Finance – New Business and Portfolio (CBFNP) division sits in the Blended Finance and Corporate Strategy Department.  Within this division, there are investment officers focusing on blended finance transactions supporting IFC’s Operations.  These blended finance transactions may use different blended finance facilities, including the IDA Private Sector Window (PSW) or multilateral or bilateral Blended Finance facilities.
• This strategy also relies on a closer WBG collaboration through the “Cascade” approach: working with clients, we will first seek private sector solutions to address development challenges—where such solutions are advisable and can be effective—and reserve public financing for projects only when other options are suboptimal.
• Blended Finance is a key tool in the execution of IFC’s 3.0 Creating Markets strategy. The Blended Finance Division (BFD) of the Blended Finance and Corporate Strategy Department manages a pool of contributor funds of over $5 billion dollars focused on accelerating IFC’s engagement in the most developmentally impactful areas: IDA and FCS countries, gender, climate, SME and agriculture and food security.
• The goal of this work is to enable industry and regional departments of IFC to have a much deeper impact and footprint in the most difficult countries and sectors, primarily but not exclusively in IDA and fragile countries. Investment officers in the Department also promote engagement in more upstream work to generate more deal-flow and impact in the hardest to reach sectors and countries.
• CBFNP seeks a Senior Investment Officer (SIO) to work regionally, across Africa, primarily on IFC’s Financial Institutions Group (FIG) projects but also on Manufacturing, Agribusiness and Services (MAS) sector investment projects which need blended concessional finance solutions to proceed.
• Being part of CBFNP, this position will also provide the successful candidate with an opportunity to work across different industry groups and regions within a creative and results-oriented environment.  Location will be in Johannesburg, South Africa.

Roles & Responsibilities
Blended finance anchor for Africa:

• The SIO will work with other blended finance and partnership colleagues on the ground to be the first “port of call” for blended finance inquiries in Africa, coordinating with the blended finance global team and providing preliminary advice/response to operation colleagues in the region.
• He/she is expected to manage relationship with regional/country and industry management in Africa, facilitates effective collaboration between blended finance and Africa operation team.

Financial structuring:

• Technical ability to translate risk tolerance of individual contributors across a wide spectrum ranging from Returnable Capital to Consumable Capital to a financial structure and model.
• Flexibility to dovetail this understanding to financial structuring needed for an investment, which neither the client nor IFC could complete without a Blended Finance co-investment.

Origination proactiveness:

• Help project teams put IFC’s best foot forward in front of clients to help origination in areas of strategic importance for IFC investments, particularly in FIG and MAS in Africa. Attend relevant pipeline meetings of industry departments.

Deal processing:

• Maintain accountability to the Blended Finance Committee with clear, unbiased presentation of the financial and impact rationale of the Blended Finance co-investment(s).
• Attend appraisals where necessary, especially if the Blended Finance co-investment has significantly different interests from IFC’s own account investment.
• Attend IRM, pre-IRMs etc. Focus on parallel processing of the Blended Finance co-investment from PDS-Concept to Commitment. 

Supervision:

• Liaise with project teams to fulfill reporting requirements to contributors (both financial outcomes and impacts). 
• In addition, particularly for projects benefiting from a de-risking tranche from Blended Finance, monitor early warning signals of cascading risks with assistance from the project’s supervision team including on existing projects. Also process disbursements, waivers, amendments pertaining to the Blended Finance co-investment etc.

Fund-raising assistance:

• Contribute to new concessional fund-raising efforts to provide color and nuance on projects benefiting from a Blended Finance co-investment.
• Gather lessons of experience for shaping future fund-raising activities and impact stories to be shared with contributors and other internal and external stakeholders.

Knowledge Management:

• Build up understanding of competitive landscape in the region, especially pertaining to the use of Blended Finance co-investments for challenging FIG and MAS sector projects. 

Selection Criteria

• 10+ years of relevant experience in working on cross-border emerging market investments with a track-record of structuring / executing investment transactions.
• Keen commercial interest in development financing and strengthening sustainable development using tailored Blended Finance co-investments.
• Familiarity with application of the DFI Enhanced Blended Finance Principles to Blended Finance co-investments alongside investment on commercial terms from DFIs.
• Experience with IFC's investment and portfolio management processes, IFC's loan and investment documentation, accounting and financial statement analysis is preferred.
• Understanding of FIG and/or MAS investment practices with knowledge of current issues, challenges and opportunities in implementing blended finance co-investments will be a plus.
• Strong knowledge of IFC products, operations and IFC’s loan pricing model, preferably also, its approach to blending concessional finance alongside IFC's investments for its own account. 
• Ability to grasp details, problem solve, identify key issues for action and manage/incorporate stakeholder interests, and explain issues clearly and confidently.
• Clarity in the presentation and delivery of information, and adaptability to work well under time and workload pressure with minimal supervision. 
• Ability to manage and complete multiple projects simultaneously and to meet deadlines under pressure.
• Excellent written and verbal communication skills in English. Fluency in other languages, such as French, Portuguese would be a plus.
• MBA or Master degree, specialization in finance/investment strongly preferred.

Application Closing Date: 30th April, 2024.

Click here to apply online