Senior Underwriter

Job Posting Organization:
The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group, established to promote foreign direct investment into developing countries. MIGA's mission is to help end extreme poverty and boost shared prosperity on a livable planet. The agency provides political risk insurance and public sector credit guarantees to investors and lenders against losses caused by noncommercial risks. MIGA operates globally, focusing on investments in developing countries, particularly in IDA countries and conflict-afflicted environments. The organization is committed to innovative financing solutions and aims to triple its annual guarantee issuance to $20 billion by 2030, reflecting its dedication to fostering economic growth and development in emerging markets.

Job Overview:
The Senior Underwriter position at MIGA is a critical role within the Financial Institutions Group Operations Department (MIGOP). The selected candidate will be responsible for leveraging MIGA's public sector guarantee products to develop financial structures that mobilize private sector financing in emerging markets. This role requires a deep understanding of structured finance and capital markets, as well as the ability to identify new business opportunities that align with MIGA's mission. The Senior Underwriter will work closely with various stakeholders, including global banks and institutional investors, to evaluate and negotiate guarantees that facilitate capital relief for banks. The position demands a proactive approach to business development, ensuring that MIGA's offerings meet the evolving needs of its clients while adhering to regulatory frameworks.

Duties and Responsibilities:
The duties and responsibilities of the Senior Underwriter include: leveraging MIGA/WB/IFC public sector guarantee products to develop financial structures that mobilize private sector financing; evaluating, structuring, and negotiating guarantees with counterparties; collaborating with other units within MIGA, IFC, and the WBG to achieve high-level business results; ensuring close collaboration on initiatives with colleagues in various regions and sectors; liaising with clients to explore new structures and understand regulatory constraints; managing financial sector client relationships; developing and implementing internal requirements related to sophisticated financial instruments; identifying new business opportunities using blended finance modalities; marketing MIGA's guarantee products to prospective clients; supervising and mentoring junior staff; and advising MIGA's Management Team on business development strategies.

Required Qualifications:
Candidates must possess a Master’s degree in business, finance, economics, or related fields. A minimum of 8 years of relevant work experience in a global financial institution or development finance institution is required. Strong experience and in-depth understanding of industry trends and regulatory frameworks are essential. A solid track record in structured finance and guarantee products, particularly concerning capital relief or risk-sharing facilities, is necessary. Candidates should have a good network of financial institutions, investment banks, and institutional investors, along with exceptional negotiation, financial, and credit skills. Proven management skills and the ability to develop client relationships are crucial, as well as strong analytical and problem-solving abilities.

Educational Background:
The educational background required for the Senior Underwriter position includes a Master’s degree in business, finance, economics, or other related areas. This advanced education is essential to equip candidates with the necessary knowledge and skills to navigate the complexities of structured finance and capital markets effectively.

Experience:
The position requires at least 8 years of relevant work experience in a global financial institution or development finance institution. Candidates should have a strong background in structured finance and a proven track record of delivering results in complex financial environments. Experience in developing client relationships and executing client engagements is also critical for success in this role.

Languages:
Fluency in English is mandatory for this position, with excellent oral and written presentation skills required. Additionally, proficiency in another major language, such as French or Spanish, is preferred and would be considered an asset in the role.

Additional Notes:
The Senior Underwriter position is a full-time role with a contract duration of 4 years. The recruitment is international, and the organization offers comprehensive benefits, including a retirement plan, medical, life and disability insurance, and paid leave, including parental leave. MIGA is committed to being an equal opportunity and inclusive employer, ensuring a diverse workforce that does not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.