Financial Officer

Job Posting Organization:
The World Bank (WB) is a prominent global institution established to provide funding and knowledge to developing countries. It is a unique partnership comprising five institutions: IBRD, IDA, IFC, MIGA, and ICSID. The mission of the World Bank is to end extreme poverty, promote shared prosperity, and foster sustainable development on a livable planet. With 189 member countries and over 120 offices worldwide, the World Bank collaborates with both public and private sector partners to invest in innovative projects and leverage data, research, and technology to address pressing global challenges. For more information, visit www.worldbank.org.

Job Overview:
The Financial Officer position at the World Bank is integral to the Structured Finance Division (WFASF) within the Finance & Accounting (WFA) Vice Presidency. This role involves managing the market data and valuation work program, which is crucial for the financial instruments utilized by the IBRD, IDA, and Trust Funds. The Financial Officer will engage with various stakeholders across the organization, including Finance, Risk, Treasury, and Corporate Finance, and will represent the division in working groups focused on new initiatives and financial instruments. The position requires a strong analytical background, proficiency in financial modeling, and the ability to ensure the integrity and reliability of market data used for financial reporting and decision-making.

Duties and Responsibilities:
The Financial Officer will be responsible for a range of duties, including:

• Reviewing valuations for various financial instruments in the IBRD/IDA portfolios using Murex and Numerix modeling tools.
• Preparing and ensuring the quality of calculated market data and evaluating data sources, including daily reviews and verification of market data reliability.
• Analyzing the sensitivity of results to market movements and formalizing these analyses into procedures and reports.
• Reviewing and preparing market data validation proposals, securing approvals, and proposing appropriate methodologies for market data and curve construction.
• Implementing models for vanilla and structured products within the Murex system.
• Comparing and analyzing WB valuations against counterparty valuations and alternative sources.
• Reviewing market data related to interest rates, foreign exchange, equity, and credit, ensuring compliance with quality standards before distribution.
• Participating in projects to enhance current applications and operationalize new financial instruments.
• Coordinating with stakeholders across the World Bank and other multilateral development banks (MDBs). 1
• Providing training and guidance to less experienced staff members.

Required Qualifications:
Candidates must possess a Master’s degree in Finance, Mathematics, Engineering, or a relevant discipline. Additionally, a professional finance/accounting qualification such as CFA, FRM, CA, CPA, ACCA, or an equivalent qualification is required. The role demands a minimum of 5 years of relevant work experience, particularly within major financial institutions or a Big 4 accounting firm, with practical knowledge of interest rate curve construction, yield and FX volatility surfaces, and bond/swap valuation methods for structured instruments.

Educational Background:
The educational background required for this position includes a Master’s degree in a relevant field such as Finance, Mathematics, or Engineering. Furthermore, candidates should hold a professional finance/accounting qualification, which may include CFA, FRM, CA, CPA, ACCA, or similar credentials that demonstrate a high level of expertise in finance and accounting principles.

Experience:
The position requires a minimum of 5 years of relevant work experience. Candidates should have professional experience with major financial institutions or a Big 4 accounting firm, demonstrating practical knowledge of financial instruments, interest rate curve construction, and valuation methods for structured products. This experience is crucial for understanding the complexities of financial markets and the valuation processes involved.

Languages:
The mandatory language for this position is English. Proficiency in additional languages may be considered beneficial but is not explicitly required for the role.

Additional Notes:
This position is classified as an international recruitment opportunity with a term duration of 3 years. The World Bank Group offers a comprehensive benefits package, including a retirement plan, medical, life, and disability insurance, as well as paid leave, including parental leave. The organization is committed to diversity and inclusion, ensuring equal opportunities for all candidates regardless of gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.