Job Openings

World Bank Recruits Sr Financial Sector Spec. under International hire in Washington, DC

Job # 090717
Job Title - Sr Financial Sector Spec.
Job Family - Financial Sector
Location - Washington, DC
Appointment - International Hire
Job Posted - 23-Apr-2009
Closing Date - 16-May-2009
Language Requirements - English [Essential]; French [Desired]; Spanish [Desired]
Appointment Type – Term (Duration: 3 yrs)

Background / General description
The Financial and Private Sector Development (FPD) Vice Presidency serves as the anchor for the World Bank’s FPD network. Within the FPD Vice-Presidency, the Financial Systems Department (FPDFS) has responsibility for:

• Expanding the frontier of policy thinking on financial development, regulatory, supervisory and systemic stability issues;

• Maintaining and developing World Bank Group (WBG) core competency in financial system prudential oversight and systemic stability (including the capacity to assist client country authorities to mitigate the risk of financial crises, and to manage crises should they occur);

• Overseeing and administering the joint IMF-WB Financial Sector Assessment Program (FSAP);

• Managing FIRST – the multi-donor trust fund for financial sector technical assistance (TA); and

• Addressing the global problem of money laundering and terrorist financing, by helping countries achieve an appropriate AML/CFT regime.

FPDFS is comprised of five units, including three responsible for administering the FSAP, FIRST and AML/CFT programs.

Another unit, the Prudential Oversight and Systemic Stability unit, is responsible to maintaining expert competency in financial system prudential regulatory and supervisory issues, and in key systemic financial stability arrangements (such as problem identification and prompt corrective action regimes, emergency liquidity assistance frameworks, bank and other financial institution failure resolution regimes, and deposit and investor protection regimes). The unit also is responsible for ensuring the ability of the World Bank (WB) to respond to requests for support from national authorities in countries facing systemic financial crises. The unit informs and supports the FSAP, including by participating in and leading FSAP teams. It provides assistance and quality enhancement to WBG operational and advisory work, with an emphasis of financial stability arrangements. It supports the implementation of international standards and practices in areas such as risk-based supervision, risk-based capital and consolidated supervision. The unit designs, oversees and delivers TA projects, including those funded by FIRST. It maintains WBG relationships with key international financial standard setting bodies (e.g., Basel Committee for Banking Supervision (BCBS), International Association of Insurance Supervisors) and with staff in the WB who conduct Report on Observance with Standards and Codes (ROSCs) that are relevant to financial sector development and stability (Auditing and Accounting; Corporate Governance; Insolvency and Creditor Rights). The unit supports the WBG’s participation in the Financial Stability Forum (FSF) and oversees its relationships with the Financial Stability Institute (FSI) and the Toronto Centre.

The fifth unit, the Policy Development unit, catalyzes the identification, selection, and prioritization of emerging issues relevant to financial development. To do so, it draws upon, inter alia, FSAP and ROSC assessment findings and dialogue with partners inside and outside the WBG. It develops policy thinking on emerging issues, based on sound analytical foundations, either by means of original work or drawing upon, leveraging and/or facilitating the work of others. It disseminates policy options and recommendations within the WBG, and to client countries and international bodies. The unit also engages in the provision of support to implementation of policy recommendations in client countries in the context of WBG operational and advisory work, including the oversight of FIRST-funded TA projects.

Duties and Accountabilities
The successful candidate will be expected to contribute substantively to the work of the Prudential Oversight and Systemic Stability unit, and in particular to work related to national financial stability arrangements, as described above, while also supporting other FPDFS roles as requested. Specific duties and accountabilities include:

• Participate in FSAP assessment teams, with a particular emphasis on evaluating and making recommendation regarding systemic stability arrangements;

• Analyze international practices relating to the prudential regulation and supervision of financial institutions, markets and systems, adapt relevant policies and procedures to the varying circumstances of lower and middle income countries, and promote their adoption and implementation in WB client countries;

• Propose, design, oversee and deliver TA to support financial sector reforms and strengthening in WB client countries, especially in fields essential to ensuring systemic stability, including as follow-up to FSAP assessments and in conjunction with WB regional units, FIRST, the IMF, and/or other donors and partners; and

• Support the WBG’s engagement with key international standard setting bodies such as the BCBS, as well as the FSF, the FSI, and the Toronto Centre.

In addition, the successful candidate will have the following general duties and accountabilities:

• Work with partners inside and outside the WBG to identify and prioritize key policy issues and implementation challenges relevant to clients;

• Prepare written notes, papers, reports, etc. that analyze policy issues and implementation challenges, and advocate and support recommendations and good prudential regulatory and supervisory practice;

• Participate in other forms of dissemination of policy analysis and recommendations for good prudential regulatory and supervisory practice, including via workshops, conferences, meetings, etc.;

• Contribute to a collaborative, open, team environment within FPDFS; and

• Professionally interact with and support staff within FPD and elsewhere in the WBG, senior government officials, counterparts in international organizations and other partner entities; the media and other external constituencies and expert groups; and WBG senior and executive management at headquarters and in the field.

Selection Criteria
Specific Selection Criteria

• At least eight years work experience in a financial sector supervisory or regulatory or similar body, with substantial experience in policy-making relating to problem and failing bank resolution regimes, and in the implementation of such regimes, in addition to knowledge and experience in systemic financial stability arrangements such as problem bank identification and prompt corrective action, lender of last resort, financial crisis contingency planning, and the use of crisis simulation exercises;

• Demonstrated ability to work in international, multi-cultural contexts;

• Substantive knowledge of financial sector standards and codes and the work of standard setting bodies;

• Demonstrated ability to function as a project team leader and deliver results on time; and

• Ability to build effective working relationships with clients, colleagues and partners.

General Selection Criteria

• Advanced technical qualifications and broad knowledge of all aspects of the financial sector gained through advanced academic study (at least Masters level or equivalent) and relevant experience gained in regulatory and supervisory agencies, international financial institutions, and/or in private financial services firms.

• Demonstrated intellectual leadership and ability to leverage sector specific knowledge for broad-based diagnostic, policy, and TA purposes;

• Strong and broad knowledge of risk management and good governance practices within the financial services industry and regulatory/supervisory authorities;

• Demonstrated ability to develop practical and innovative approaches to difficult policy issues and implementation challenges (including financial stability, prudential regulation, risk-based supervision, competition and efficiency, and market structure);

• Excellent organizational, analytical and prioritization skills, with ability to follow assigned tasks/projects through to completion;

• Excellent written and oral communication skills and demonstrated ability to advocate positions and defend orally and in writing difficult issues and positions to government officials, WB management and others;

• Fluency in a widely-used language other than English (e.g., Spanish or French) is desired; and

• Demonstrated ability to effectively mentor staff and design effective training and skills enhancement initiatives.

The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.

To register and Apply Online click here

Like this Article? Please bookmark it on any of the following social bookmarking sites.

Other Related Posts You Might Be Interested In

• World Bank recruits Financial Sector Program Manager for Washington, DC under International Hire
• The World Bank recruits Operations Analyst for their Washington DC Office
• World Bank recruits Program Manager (ESMAP) Energy and Mining for Washington, DC under International Hire
• World Bank recruits Senior Economist under International hire for their Washington DC Office
• World Bank Recruits Senior Economist Under International Hire For their Washington, DC Office
• World Bank recruits Financial Officer for their Washington, DC office under International Hire

Don't be the last one on the block to know about the latest employment opportunities. Keep yourself subscribed either by RSS or email below. We will deliver you all the latest news and if you wish you can unsubscribe any time

Get a 'Secrets to Success' eBook For Free when you subscribe!

Also you could become a member of Careers-India Forums to get news on the hottest jobs and coolest education options in India

Searching for Something Specific? Find Here: