ETC - Insurance Regulatory Expert

Job Posting Organization:
The World Bank Group is a prominent global institution established to provide financial and technical assistance to developing countries. With a mission to end extreme poverty and promote shared prosperity, the organization operates in 189 member countries and has over 120 offices worldwide. The World Bank Group is a unique partnership of five institutions that work collaboratively to address the most pressing development challenges faced by nations. The organization leverages its extensive resources, knowledge, and expertise to support sustainable development initiatives and foster economic growth in various sectors, including financial services, education, health, and infrastructure. The World Bank Group is committed to using data, research, and technology to develop innovative solutions that can lead to impactful change in the lives of people around the globe. For more information, visit www.worldbank.org.

Job Overview:
The position of ETC - Insurance Regulatory Expert at the World Bank involves providing senior-level technical advice and engagement in support of the Disaster Risk Finance Unit's work on insurance regulatory and supervisory approaches, as well as insurance market development. The role is crucial in helping client governments enhance their financial resilience to disaster shocks through effective insurance solutions. The expert will lead or contribute to various initiatives, including country-level engagements, knowledge sharing on insurance market development, and participation in Financial Sector Assessment Programs (FSAPs). The position requires a deep understanding of insurance regulatory practices and the ability to collaborate with international insurance organizations to promote best practices and innovative solutions. The expert will also be responsible for developing policy and research notes, organizing seminars, and representing the team in stakeholder consultations. This role is based in London, UK, and involves frequent travel to engage with clients and partners.

Duties and Responsibilities:
The duties and responsibilities of the ETC - Insurance Regulatory Expert include: leading or contributing to work on insurance regulatory, supervisory, and market practices; supporting or leading country-level engagements through relevant financing operations and advisory activities; developing and sharing knowledge on insurance market development, including identifying key bottlenecks and emerging trends; co-authoring policy and research notes; preparing internal guidance and developing policy toolkits; organizing seminars and workshops; participating in Financial Sector Assessment Programs (FSAPs) and preparing Insurance Core Principle (ICP) reviews; collaborating with international insurance organizations such as IAIS, SIF, EIOPA, OECD, and IDF; representing the CDRFI team in stakeholder consultations and interagency coordination forums; and performing other duties as assigned by the unit manager. The initial appointment is for one year, with the possibility of renewal for up to an additional two years, subject to business needs and satisfactory performance.

Required Qualifications:
The required qualifications for the position include a Master’s degree in economics, finance, law, or a related field. Candidates must have a minimum of 12 years of experience in insurance regulatory and supervisory roles, with a strong understanding of insurance system reform and regulation frameworks. Policy-level engagement with governments, industry bodies, and regulators is essential, along with experience working within insurance supervisory authorities. Knowledge of climate risk and investment opportunities in the insurance sector is advantageous. Familiarity with the World Bank Group's operational policies and procedures, as well as portfolio management and operational project management, is also beneficial. Candidates should demonstrate the ability to manage multiple tasks effectively, set priorities independently, and deliver results.

Educational Background:
Candidates for the ETC - Insurance Regulatory Expert position must possess a Master’s degree in economics, finance, law, or an equivalent field. This educational background is essential to ensure that the candidate has the necessary theoretical knowledge and analytical skills to navigate the complexities of insurance regulation and market development.

Experience:
The position requires a minimum of 12 years of relevant experience in insurance regulatory and supervisory roles. Candidates should have a proven track record of working with insurance systems, engaging with policy-level stakeholders, and contributing to insurance market reforms. Experience with international organizations such as IAIS, EIOPA, OECD, and IDF is considered an advantage, as it demonstrates familiarity with global insurance standards and practices.

Languages:
Fluency in written and spoken English is mandatory for this position. Additionally, proficiency in Spanish or French is considered a valuable asset, as it enhances the candidate's ability to engage with a broader range of stakeholders and clients in various regions.

Additional Notes:
The position is a local recruitment opportunity based in London, United Kingdom, with an initial contract duration of one year, which may be extended for up to two additional years based on business needs and performance. The role is full-time and may require frequent travel to engage with clients and partners. The World Bank Group is committed to diversity and inclusion, ensuring equal opportunities for all candidates regardless of gender, identity, religion, race, ethnicity, sexual orientation, or disability. Compensation and benefits will be aligned with World Bank Group policies.