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Position: Financial Sector Analyst
Closing Date: 14th April 2020
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Do you want to build a career that is truly worthwhile? Working at the World Bank provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank consists of two entities – the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). It is a global development cooperative owned by 189 member countries. As the largest development bank in the world, the World Bank provides loans, guarantees, risk management products, and advisory services to middle-income and creditworthy low-income countries, and coordinates responses to regional and global challenges.
The Consultative Group to Assist the Poor (CGAP) is a global multi-donor partnership dedicated to advancing financial inclusion for the poor. CGAP plays a unique role as a donor-coordination mechanism for funders working to improve the lives of poor people through the power of financial inclusion, providing a valuable platform for information, dialogue and reflection to advance progress towards a collective vision. Using action-oriented research, CGAP tests, learns and disseminates knowledge intended to help build inclusive and responsible financial systems that move people out of poverty, protect their assets and advance broader global development goals. CGAP leverages its relationships with businesses, governments and the non-profit sector to share insights, mitigate risks and protect customers, and help others bring solutions to scale. CGAP serves as a global advocate for the financial inclusion community by collaborating with strategic institutions that influence policy and market development and providing evidence-based research and practical lessons that guide their work. For more information, please visit https://www.cgap.org/
CGAP is supported by more than 30 partners including bilateral and multilateral development agencies, development finance institutions and private foundations committed to advancing financial access for the poor. CGAP is housed in and administered by the World Bank.
CGAP is guided by a five-year strategy and annual workplans. The current five-year strategy, CGAP VI, covers the period July 1, 2018 – June 30, 2023 and is built on a theory of change (ToC) that has identified four collective outcomes:
- Customers have information, incentives, trust, confidence and networks to participate in the financial system.
- Providers offer affordable, responsible, and accessible financial solutions for poor people that are sustainable and at scale.
- An infrastructure that enables ubiquitous, efficient, open and safe markets is in place.
- A policy and regulatory framework for responsible financial inclusion is in place and enforced.
Beyond work with its core partners, CGAP also provides industry-level support to share knowledge and scale impact. This will include improving global learning on impact evidence, supporting CGAP’s members, and focusing on capacity development to scale learning with providers and policymakers.
Implementation of CGAP VI is carried out by the Operational Team through a “portfolio of projects” designed to achieve the high-level collective outcomes articulated in the theory of change.
Job Duties and Responsibilities:
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CGAP is recruiting an early-career Financial Sector Analyst to join CGAP’s expanding efforts in advancing financial inclusion for the poor. Specific duties and responsibilities include:
- Research. Analyst will support research on a range of topics, such as technologies and emerging business models, customer insights and demand side studies, evidence of impact of financial services in the poor, policies and regulations of innovative financial service offerings, among others.
- Support workstreams. Analyst will support one or more workstreams, potentially across different thematic areas, within CGAP’s overall work program. This will entail close work with several CGAP staff and consultants to deliver on shared goals and coordination among teams distributed geographically.
- Collaborate with consultants. Analyst may engage with external consultants, either individuals or firms, as part of a team carrying out larger and/or more comprehensive analysis or research. This may involve support to develop terms of reference, coordinate meetings and/or review deliverables.
- Communications. Analyst is expected to articulate compelling oral and written communications aimed at diverse stakeholders and audiences (providers, policymakers, researchers and funders). Analyst may support Communications Specialists in developing communications plans to translate insights generated from research into messages that influence target audiences in the private and public sectors.
- Liaise with external stakeholders. Analyst will be part of teams with multiple external relationships with stakeholders involved in financial inclusion. Analyst will support teams in managing such relationships.
- Coordinate team activities. Support projects through coordinating activities across multiple people and workstreams and carry out supporting administrative functions as needed.
- Contribute to CGAP’s thinking. Monitor trends in financial inclusion research in both academia and private sector; identify new ideas, resources, and opportunities for the team. Participate in cross-functional CGAP teams and corporate work as required.
The successful candidate(s) will demonstrate the following WBG Core Competencies:
- Deliver Results for Clients – Contributes to delivery of results for clients on complex issues
- Collaborate Within Teams and Across Boundaries – Collaborates with other team members and contributes productively to the team’s work and output, displays a sense of mutuality and respect
- Lead and Innovate – Brings new and different insights
- Create, Apply, and Share Knowledge – Actively contributes to and readily applies WBG’s body of knowledge for internal and/or external client solutions
- Make Smart Decisions – Leverages available data and makes timely decisions.
- In addition to meeting the World Bank-wide general criteria for GE positions, it is expected that the selected candidate would meet the following criteria:
- Master’s degree in Business, Finance, Development, Economics, International Relations or relevant field.
- At least 2 years of relevant work experience, especially in a lower income/emerging economy context.
- Proven ability to think conceptually and rapidly, analyze diverse information from varied sources.
- Strong written communication skills.
- Ability to collect and analyze complex and incomplete information, interpret data, synthesize issues, make connections across topics, and present into a cohesive picture.
- Ability to problem-solve around new topics, identify major issues, and develop a research plan.
- Creative, agile, curious, and open mind; proven ability to learn, adapt, and be innovative. Actively seek and consider diverse ideas and approaches.
- Strong client orientation and ability to maintain complex client relationships in the face of conflicting demands or directions.
- Enjoy working in a team-based environment
Position: Senior Corporate Governance Officer
Duties and Accountabilities:
CG Risk Management – Concept, Appraisal, Investment Review, Management/Board Approval, Commitment/Disbursement
- Develop and periodically update CG Investment Support strategy for the region in consultation with the Global CG Manager and aligned with Country Strategy Framework for each regional country.
- Provide input on Corporate Governance Reviews (CGR) or ensure delivery of Corporate Governance Assessments (CGA) of relevant investment projects as described in CG Directive and Procedures.
- Participate in or delegate Investment Review Meetings in the region when a CGA has been conducted.
- Provide investment teams with clear and timely CG advice and input from Concept through Commitment/Disbursement.
- Support business development in collaboration with regionally based industry or business development managers, by providing advice on potential CG-related risks in target sectors/industries.
- Collaborate closely with the Transaction Leader, LESS, IFC Lawyer, and other team members of investment projects for effective discharge of his/her roles and responsibilities.
CG Risk Management – Portfolio
- Develop CG Portfolio Support strategy for the region in consultation with the Global CG Manager and aligned with the Industry Strategy for each regional country.
- Provide input to the portfolio officers to monitor implementation of CG covenants and/or CG improvement program by portfolio clients.
Staff and STC Management and Development
As delegated by the CEG Regional Manager, the RLCG will;
- Oversee and coordinate the work of regionally mapped CG Officers and STCs assigned to investment support role.
- Act as ePerformance Supervisor for regionally-mapped CG Officers. Support and guide direct reports to develop performance objectives.
- Ensure timely and adequate staffing of CG Officers to projects.
- Provide specific feedback to the CEG Global Corporate Governance Manager and CEG Regional Manager on operational performance for regionally-mapped CG Officers, to be used in departmental-level performance and talent reviews.
- Assist with recruitment and onboarding of new CEG employees and consultants (including developing TORs, identifying candidates, interviewing, and checking references).
- Manage process of identifying, contracting, training and supervising deliverables from regionally based consultants with the support of both global and regional colleagues.
- Support the CEG Global Corporate Governance Manager and CEG Regional Manager in team building and good coordination and collaboration among the regional CG Officers and consultants
Input into Regional ESG Advisory Activities
The RLCG will collaborate with the RLAS, RTLDI and the RTLFI to identify opportunities for ESG advisory in the region and ensure technical quality assurance. This will include:
- Timely identification of pipeline and portfolio clients that could be considered for AS support.
- Identification of systematic issues experienced by clients or at the market level hindering the development and implementation of effective CG practices that could be addressed through AS support.
- Delivering AS engagements and/or Enhanced Client Support, as needed on a demand driven basis to IFC clients.
- Reviewing (or delegating as appropriate to subject matter specialists) and providing feedback on AS work products, including project documents, client assessments or proposals, training curricula, reports, etc.
- Active and consistent communication across the matrix, at both the pipeline, project, portfolio and strategic levels.
- Actively participate in CEG Team Lead meetings and hold regular regional team meetings that are focused on communicating information (information from the CEG regional leadership and Industry Departments meetings, potential pipeline, technical industry information, etc.), identifying best practice, implementation of new tools and approaches, driving consistency of practice with the corporate governance team and conveying lessons learned through QA reviews.
- Represent CEG and IFC, as appropriate, in relevant regional internal/external public forums as needed by the CEG Regional Manager.
- Support CEG in achieving IFC corporate initiatives, as agreed with CEG management.
- Participate in global and regional knowledge product development aimed to maintain IFC’s thought leadership role.
- Provide training to investment and advisory staff in the region.
- Master’s in business administration (MBA), law degree or other relevant graduate degree.
- Minimum of ten years’ experience in a field or fields related to corporate governance — including but not limited to accounting and audit, legal, securities and stock market development, management consulting, technical assistance, etc.
- Strong, well-rounded working knowledge of common CG topics and issues in emerging markets, such as board structure and functioning, shareholder rights and protections, control environment, risk management, internal audit, disclosure and transparency, stakeholder governance, family business governance, financial institution governance and state-owned enterprise governance.
- Ability to develop and maintain strong relationships with key IFC investment professionals, satisfying their confidence in your technical expertise in front of senior level client representatives.
- Robust client service and communication skills in order to interact authoritatively and constructively with client board members, senior executives and shareholders.
- Excellent communication skills (spoken and written English a must, spoken and written French desirable), technical ability, and personal reputation/stature to represent IFC-World Bank Group as a senior level CG expert at conferences, trainings, and other high-profile public events.
- Familiarity with various investment structures and the related CG implications.
- Experience with legal investment agreements and how CG requirements can be effectively tailored and integrated for a given transaction.
- Familiarity with integrating environmental and social issues with CG in investment transactions, training material, and thought leadership efforts.
- Confident decision maker, balancing speed and thoroughness when there is uncertainty, knowing when to act, seek support or escalate decision making.
- Effective team leader and delegator, able to set clear expectations to facilitate team members’ success.
- Comfortable feedback provider, able to provide culturally sensitive and effective feedback and to identify strengths and growth opportunities in colleagues.