Senior Economist-Sovereign Risk Unit

Job Posting Organization:
The World Bank Group is a prominent global institution established to provide funding and knowledge to developing countries. It is a unique partnership of five institutions dedicated to ending extreme poverty and promoting shared prosperity. The organization has 189 member countries and operates more than 120 offices worldwide, focusing on investing in groundbreaking projects and utilizing data, research, and technology to address urgent global challenges. The World Bank's mission is to foster sustainable development and improve living standards across the globe, making it a key player in international economic development.

Job Overview:
The Senior Economist position within the Sovereign Risk Unit of the Credit Risk Department (CROCR) at the World Bank is a critical role that involves assessing and managing sovereign credit risk for a portfolio of International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD) borrowing countries. The successful candidate will be responsible for presenting country risk notes and risk rating proposals to the CROCR’s Risk Committee, as well as conducting ongoing monitoring of country risks. This role requires a deep understanding of macroeconomic and debt risks, and the ability to engage with World Bank operational teams on these issues. The Senior Economist will also contribute to the development of key written products, such as the Annual Risk Report and Board papers, while continuously seeking to improve risk assessment methodologies and innovate within the department.

Duties and Responsibilities:
The Senior Economist will have a range of responsibilities, including:

• Primary sovereign risk ratings responsibility for a portfolio of IDA and IBRD borrowing countries, including the preparation and presentation of country risk notes and risk rating proposals.
• Assessing and rating country/economic risks to the private and financial sectors of these countries.
• Leading discussions with World Bank country operational teams regarding macroeconomic and debt risks, contributing to corporate reviews of country engagement products and lending operations.
• Engaging with country operations teams on exposure reallocation requests and macroeconomic issues, collaborating closely with other relevant units across the Bank.
• Contributing to the IDA Sustainable Development Financing Policy (SDFP) initiatives.
• Preparing key inputs for CROCR written products, such as the Annual Risk Report and management briefings.
• Innovating and improving risk assessment approaches within the department.
• Potentially taking on additional responsibilities related to ESG influences on credit risk, stress testing, Paris Club representation, and short-term risk monitoring, depending on business needs.

Required Qualifications:
Candidates must possess a Master's degree in economics or a related field, with at least eight years of relevant experience demonstrating a strong track record of delivering high-quality work in a timely manner. Alternatively, a Ph.D. with five years of experience is acceptable. Candidates should exhibit excellent macroeconomic reasoning and a comprehensive understanding of open economy macroeconomics, alongside strong quantitative skills. Attention to detail, especially in data work, is crucial, as is the ability to manage multiple priorities under time pressure. Proficiency in credit risk concepts and excellent communication and presentation skills are also required. A collaborative mindset and the ability to work effectively within a high-performing team are essential attributes.

Educational Background:
A Master's degree in economics or a closely related field is required for this position. Candidates with a Ph.D. in economics or a related discipline will also be considered, provided they have the requisite experience. The educational background should include a strong foundation in macroeconomic theory and quantitative analysis, equipping candidates with the necessary skills to assess and manage sovereign credit risks effectively.

Experience:
The position requires at least eight years of relevant experience in economics, finance, or a related field, with a proven ability to deliver high-quality work under tight deadlines. Candidates with a Ph.D. are expected to have a minimum of five years of experience. The experience should include a strong focus on macroeconomic analysis, risk assessment, and familiarity with credit risk concepts, as well as a demonstrated ability to engage with stakeholders and contribute to high-level discussions.

Languages:
Proficiency in English is mandatory for this position, as it is the primary language of communication within the World Bank. While not required, knowledge of additional languages may be considered an asset, particularly if it enhances the candidate's ability to engage with diverse stakeholders across different regions.

Additional Notes:
This position is classified as an international recruitment role with a term duration of four 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. The role is full-time and based in Washington, DC.