Financial Sector Specialist

Financial Sector Specialist

Job #: req28034 Organization: World Bank Sector: Financial Sector Grade: GF Term Duration: 3 years 0 months Recruitment Type: International Recruitment Location: Washington, DC,United States Required Language(s): English Preferred Language(s): French, Spanish Closing Date: 7/8/2024 (MM/DD/YYYY) at 11:59pm UTC

Description

Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. Please visit www.worldbank.org.

Equitable Growth, Finance, and Institutions Practice Group:

The Equitable Growth, Finance, and Institutions Practice Group (EFI) is one of the World Bank Group's four Practice Groups. EFI's mandate is "Growth, Finance, and Institutions for all." Our approach is to leverage public and private sector expertise, together with International Finance Corporation (IFC), to support a data-driven reform agenda. EFI supports clients in advancing evidence-based structural reforms to build the foundations for inclusive and sustainable growth.

EFI is composed of four Global Practices (GPs):

Macroeconomics, Trade, and Investment GP (MTI GP) and Finance, Competitiveness, and Investment GP (FCI GP) - consist of country economists and trade, financial and private development specialists that support structural reforms.

Governance GP - consists of public sector, financial management and procurement specialists to support institutional and governance reforms and provide fiduciary support to all Bank operations.

Poverty and Equity GP - consists of micro, labor, and development economists to build the evidence base, provide advice and operational support to ensure country policies and WBG interventions are inclusive.

The FCI GP is comprised of two directorates: The Finance directorate, and the Trade, Investment and Competitiveness (TIC) directorate. The GP aims to support client countries to create an enabling environment in which financial stability, efficiency and firm-level solutions are provided in an integrated way to crowd in the private sector, support the creation of markets, and accelerate equitable growth.

The Finance Directorate provides analytical and advisory support to the international community to enact reforms that lead to deep, inclusive, efficient and resilient financial systems. The Directorate is comprised of thematic teams focused on

(1) Financial Stability and Integrity,

(2) Financial Inclusion and Infrastructure,

(3) Long term finance and

(4) Crisis and disaster risk finance.

This advertisement pertains to a Financial Sector Specialist position in the Financial Inclusion and Infrastructure team in the Finance directorate of the FCI GP. The expert will contribute to collaborations across technical, geographic, and institutional boundaries to help design and deliver solutions across a diverse range of clients pertaining to payment systems, market infrastructures, Digital Financial Services (DFS), and financial inclusion themes. The expert will also contribute to sharing of global knowledge and practical development experience with WB client countries and incorporating global lessons in WB-supported programs.

This position is based in Washington DC and will require frequent international travel.

Roles and Responsibilities:

The objective of the Financial Sector Specialist position is to contribute to the implementation of the Payment Systems and Market Infrastructure reforms and provide substantive contributions to the further development of the work program, with a strong focus on all payment and market infrastructure topics in general with a focus on retail payments and their interlinkages with broader digital financial services ecosystem and digital economy. The Financial Sector Specialist is expected to work on projects in all regions.

The Financial Sector Specialist should combine knowledge of and multi-country experience in payment and market infrastructures (in specific in one or more of these areas: legal and regulatory frameworks; large value payments systems; retail payments systems; remittances; government payments; oversight frameworks; collaboration frameworks; and payment aspects of financial inclusion) with relevant experience and engagement at country level and excellent data and econometric analysis skills.

Responsibilities would include - among others - leading or/and contributing to the following, as Task Team Leader (TTL), co-TTL, technical lead, project member, advisor, or reviewer:

• Preparation of specific country and regional diagnostic studies, including management of one or more projects and/or regional payment systems initiatives of the group.

• Preparation of analytical documents to support policy dialogue with relevant public authorities on topics related to payment and market infrastructures.

• Implementation of retail payment and government payment reforms, by using the World Bank Guidelines for Government Payment Programs and the CPMI-WBG Payment Aspects of Financial Inclusion Guiding Principles as guiding standards.

• Preparation of tailored implementation strategies to secure efficiencies in the area of payment systems in specific countries by exploiting improvement opportunities and removing constraints.

• Technical assistance missions and lending project preparation and supervision missions.

• Development of financial infrastructure reform agendas in the context of country's financial inclusion and digital economy strategies.

• Presentation of findings, analysis, recommendations and information in verbal, written, and

• PowerPoint form, in diverse contexts (including for workshops, seminars, online, and for corporate briefings).

• Participation in international working groups and taskforces on developing best practices / standards; and studying emerging issues in payment and settlement systems.

This position will involve frequent international travel.

Selection Criteria

This role requires a combination of technical, policy, implementation and operational skills, in-depth expertise in relevant areas, and a high level of motivation. The following qualifications are sought:

• A Master's degree in international development, Finance, Public Policy, or Economics or equivalent, with a minimum of 5 years of relevant experience.

• Demonstrated experience in work in a team and multi-cultural setting.

• Demonstrated experience working on the ground in developing countries/emerging markets, with a track record of strong task delivery and quality.

• Good understanding of large value and retail payments systems, relevant digital financial inclusion themes, as evidenced through contributions to reports and other outputs. For example, with the areas set out in the 'Fast payments

• Enhancing the speed and availability of retail payments', 'Considerations and Lessons for the Development and Implementation of Fast Payment Systems

• Part of the World Bank Fast Payments Toolkit', 'Payment Aspects of Financial Inclusion' guiding framework (WB/CPMI), and CPMI-IOSCO Principles for Financial Market Infrastructures.

• Good understanding of retail payment systems, including, fast payment systems, business models behind payment and other financial instruments, and of innovative payment mechanisms/ financial services; Association with design, development and use of innovative solutions and mechanism would be preferred.

• Experience in design and/ or implementation of Fast Payment Systems and conduct of assessments of retail payment systems, would be desirable.

• Excellent analytical skills.

• Proven ability to work in teams.

• Strong commitment to knowledge-sharing.

• Excellent oral and written English language communication skills.

• Fluency in French or Spanish is a plus.

Required Competencies:

• Support with Policy and Technical Analysis of Retail Payment Systems, specifically, Fast Payment System

• Develops innovative solutions, contributes new insights to understand situations and develops solutions to resolve complex problems, adapts as circumstances require and manages the impact of own behavior on others in context of WBG's values and mission, and identifies and pursues innovative approaches to resolve issues.

• Deliver Results for Clients

• Proactively addresses clients' stated and unstated needs. Adds value by constantly looking for a better way to get more impactful results; sets challenging stretch goals for oneself. Immerses oneself in client experiences and perspective by asking probing questions to understand unmet needs. Demonstrates accountability for achieving results that have a development impact and financial, environmental and social sustainability. Identifies and proposes solutions to mitigate and manage risks.

• Collaborate within Teams and Across Boundaries

• Collaborates across boundaries, gives own perspective and willingly receives diverse perspectives. Appropriately involves others in decision making and communicates with key stakeholders. Actively seeks and considers diverse ideas and approaches. Integrates WBG perspective into work.

• Create, Apply and Share Knowledge

• Applies knowledge across WBG to strengthen WBG client solutions. Contributes to the department's and WBG's body of knowledge by applying lessons learned and expertise. Seeks to learn from more experienced staff to deepen or strengthen their professional knowledge and helps others to learn. Builds personal and professional networks inside and outside the department unit.

• Make Smart Decisions

• Interprets a wide range of information and pushes to move forward. Seeks diversity of information and inputs, researches possible solutions, and generates recommended options. Identifies and understands risks and proposes recommendations. Based on risk analysis makes decisions in a timely manner within own area of responsibility, considering the interests and concerns of stakeholders.

• Policy Dialogue Skills

• Identifies and assesses policy issues and communicates findings/points of view verbally and through reports and papers. Plays an active role in the dialogue with the government and/or other stakeholders as part of Bank teams.

Technical Competencies:

• Demonstrates a solid working knowledge of retail payments, especially fast payments, the issues and challenges in implementation, the mitigation measures, e.g., approaches to extend access to financial services for the poor, financial consumer protection and financial literacy, payments systems, digital finance, policy, and regulatory reforms.

• Has experience working with governments/regulators on financial inclusion or payments, or on relevant technical assistance or financing projects.

• Demonstrates familiarity with the project life-cycle (design, preparation, implementation, and monitoring) of payments projects.

• Demonstrates knowledge of policy, payment systems and legal/regulatory issues related to access to finance products and services.

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.