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Description
Do you want to build a career that is truly worthwhile? Working at the World Bank provides a unique opportunity for you to join us to help our clients solve their greatest development challenges. The World Bank (WB) is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions (IBRD, IDA, IFC, MIGA, and ICSID) dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development on a livable planet. 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. For more information, visit www.worldbank.org.
The WB Finance & Accounting (WFA) Vice Presidency is responsible for all aspects of the financial reporting, internal control framework for IBRD and IDA, and the extensive Trust Fund/Partnership portfolio of the WB entities. It supports an appropriate fiduciary control framework and administering disbursements for Bank lending and leads the client service function for the WB’s corporate expenses.Organizationally, WFA is comprised of three departments: (1) Corporate Accounting and Reporting, (2) Trust Funds and Loans, and (3) Financial Controls. In WFA, our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.
Within WFA, the Structured Finance Division (WFASF) is responsible for product control functions for financial instruments including borrowings, derivatives, and investments for IBRD, IDA and Trust Funds except for pension funds. These include producing valuation for the IBRD/IDA bonds, derivatives, and loans, set-up of financial models and valuation review, market data sourcing and verification, financial instrument product aligned accounting, implementing accounting policies around financial instruments, independent price verification, financial instrument related data management and providing disclosure information for financial statements regarding these financial instruments.
The Financial Analyst will play a key role in the delivery of the market data and valuation work program of the division. He/she will interact with counterparts in Finance (WFA, Risk, Treasury, and Corporate Finance) and will represent the division in working groups related to new initiatives and new financial instruments.
What you will do
• Review or prepare valuation for the various financial instruments in the IBRD/IDA portfolios utilizing Summit, Murex, and Numerix modeling tools. • Preparation and quality assurance of calculated market data, evaluation of data sources. Daily review, and verification of the market data reliability.• Analyze the results of sensitivity to market movements by utilizing relevant tools and formalizing into procedures and reporting.• Prepare market data validation proposals and secure approvals by proposing appropriate market data, curve construction methodology and system configuration to be used consistent with market practice.• Implementation of models pertaining to vanilla and structured products in Numerix OneView. • Compare and analyze WB valuations versus corresponding Counterparty valuations and other alternative sources.• Review market data - interest rates, foreign exchange, equity and credit data and related review functions. Ensure data captured by the Bank’s market data system, meets required quality standards before distribution to downstream systems. Periodically review existing model/ market-data choices used for borrowings and derivative valuation.• Participate in projects and initiatives to enhance / change current applications and operationalize new instruments. • Coordinate with stakeholders across the World Bank and with other MDBs/banks. • Provide training and direction to less experienced staff.
Selection Criteria
Education
• Master's in Mathematics, Engineering or relevant discipline
• Professional finance/accounting qualification (CFA and / or CA, CPA, ACCA or equivalent accounting qualification) would be a plus
Experience
• Minimum of 3 years of relevant work experience
• Professional experience with major financial institutions or a Big 4 accounting firm with practical knowledge of interest rate curve construction, yield and FX volatility surfaces and correlations, as well as Bond/Swap valuation methods for structured instruments would be desired.
Knowledge and Skills
• Strong understanding of fixed income and debt derivative products with emphasis on interest rate and FX option pricing theory.
• Proven quantitative and qualitative analytical skills including familiarity with financial modeling techniques as well as valuation adjustments (XVAs). Understanding of market data requirements for capital market related activities.
• Knowledge of appropriate valuation models including calibration instruments and model limitations.
• Demonstrated high level of initiative, self-confidence and a self-starter.
• Strong interpersonal skills; commitment to work in a team-oriented, multi-cultural environment; detail oriented.
• Good verbal and written communication and presentation skills, including writing validation proposals.
• Proficiency in Python (or other programming language) is highly desired.
Abilities
• Ability and willingness to quickly learn and contribute
• Ability to deliver results and respond quickly and effectively to requests.
• Ability to work on systems projects and institutional initiatives.
• Ability to meet tight deadlines.
• Good communication skills, including the ability to explain and express views/opinions clearly and confidently.
• Ability to deal sensitively in a multi-cultural environment and build effective working relations with clients and colleagues.
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 the World Bank and IFC, including our values and inspiring stories.
