Senior Economist

Job Posting Organization:
The World Bank, a member of the World Bank Group (WBG), is a global organization dedicated to addressing the world's most pressing development challenges. Established to reduce poverty and promote sustainable economic growth, the World Bank operates in 145 countries with over 182 offices worldwide. The organization focuses on various sectors, including climate change, and aims to invest in people, strengthen markets, and deliver scalable, data-driven solutions that improve lives. The World Bank employs a diverse workforce that collaborates across cultures and disciplines to achieve its mission.

Job Overview:
The Senior Economist position at the World Bank is integral to the Fund for responding to Loss and Damage (FRLD), which assists developing countries vulnerable to climate change impacts. The role involves leading fiduciary and financial matters across the FRLD pipeline and portfolio, developing policies and methodologies for financial instruments, and conducting analytical work on economic issues related to loss and damage. The Senior Economist will work closely with the Programming and Country Engagement (PACE) division, contributing to the development of funding modalities and engaging with countries and access entities. This position requires a strategic mindset to provide advice and support to the Secretariat, ensuring effective implementation of the Fund's objectives.

Duties and Responsibilities:
The key responsibilities of the Senior Economist include leading a team of fiduciary specialists in reviewing funding requests, developing methodologies for fiduciary monitoring, and ensuring quality assurance of assessment reports. The role also involves managing the direct budget support access modality, monitoring new financial instruments, and participating in leadership meetings to advise on key matters. Additionally, the Senior Economist will lead the development of policies for grants and concessional resources, contribute to funding modalities, and support the development of funding agreements. The position requires engagement with countries and access entities, preparation of materials for Board meetings, and representation of the Fund in external conferences.

Required Qualifications:
Candidates must possess an advanced degree (Master’s or equivalent) in international economics, finance, or a related field, with a preference for a focus on financial economics, development, or climate finance. A minimum of 8 years of relevant professional experience in development finance is required, along with expert knowledge of the economic impacts of climate change and associated financial instruments. Proven experience in drafting technical papers, designing financial instruments, and developing policy-oriented knowledge products is essential. Familiarity with international financial institutions and experience in developing countries is highly desirable.

Educational Background:
An advanced degree (Master’s degree or equivalent) in international economics, finance, or a related field is required for this position. Candidates with a focus on financial economics, development finance, or climate finance will be preferred, as these areas are directly relevant to the responsibilities of the Senior Economist role.

Experience:
The position requires at least 8 years of relevant professional experience in development finance, including work with international, regional, or bilateral financial institutions. Candidates should have a proven track record in drafting complex technical papers and designing tailored financial instruments, as well as experience in developing technical knowledge products and operational strategies in climate finance.

Languages:
Proficiency in English is mandatory for this position. Additionally, proficiency in one or more UN languages beyond English, such as French, Spanish, Arabic, Russian, or Chinese, is considered an asset and may enhance a candidate's application.

Additional Notes:
This position is a full-time role with a term duration of 2 years, and it involves international recruitment. The World Bank Group offers comprehensive benefits, including a retirement plan, medical, life and disability insurance, and paid leave, including parental leave. The organization is committed to diversity and inclusion, ensuring equal opportunity for all candidates regardless of gender, religion, race, ethnicity, sexual orientation, or disability. The role also emphasizes the importance of collaboration across teams and disciplines, as well as the responsible use of digital tools to enhance productivity.