Thinking of a Career in Emergency Management?
- BY Nicole Pelette
About the World Bank Group:
Established in 1944, the WBG is one of the world’s largest sources of funding and knowledge for development solutions. In fiscal year 2018, the WBG committed $67 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $24 billion was concessional finance to its poorest members. It is governed by 188-member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.
The WBG consists of five specialized institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). The World Bank is organized into six client-facing Regional Vice-Presidencies, several corporate functions and thirteen Global Practices to bring best-in-class knowledge and solutions to regional and country clients.
The Corporate IDA and IBRD Department is part of the Development Finance Vice-Presidency (DFi).
The Development Finance Vice-Presidency (DFi) is responsible for the management and monitoring of policies, procedures and resources for development financing in the World Bank. Development financing consists of all the aspects of corporate finance of the IBRD, resource mobilization and management of the world’s largest concessional fund, IDA, and the financial management of grant contributions from development partners for Trust Funds (TFs), and Financial Intermediary Funds (FIFs). DFi is also leading the dialogue on financing for development and organizes the annual Development Finance Forum (DFF). Given the nature and variety of this portfolio, DFi works closely with the President's office, Executive Directors, WBG senior management, corporate and operations units across the WBG, funding partners and government officials. The VPU has two departments – Corporate IDA and IBRD (DFCII) and Trust Funds and Partner Relations (DFTPR).
Corporate IDA and IBRD (DFCII) is responsible for the replenishment and stewardship of IDA, the Bank’s principal facility for providing highly concessional resources to the world’s poorest countries, as well as for supporting senior managers and the WBG Board in IBRD’s financial management by recommending policies and strategies related to IBRD medium-term financial and capital planning, overall balance sheet management, and annual decisions on loan terms and income allocation.
The Corporate IDA and IBRD Department consists of two units, the IBRD-IDA Corporate Finance team and the IDA Strategy and Operations team. This position will work in the IBRD-IDA Corporate Finance team.
DUTIES AND RESPONSIBILITIES
The IBRD-IDA Corporate Finance team is responsible for monitoring IBRD and IDA’s near-term and medium-term financial outlook, and setting financial strategies and policies to ensure IBRD and IDA’s financial strength and long term financial sustainability. These policies include those related to loan pricing and repayment terms, capital management, income allocation, and balance sheet management. In addition, the team maintains long-term financial projection models for IBRD and IDA and monitors the institutions’ long-term financial capacity and overall financial soundness; identifying income and balance sheet variables and their vulnerabilities; assessing the income and capital impact of any strategic decisions or new programs/initiatives; monitoring the adequacy of income and capital to support lending and other development activities, including under key risk scenarios; and developing strategies for optimal use of capital as well as to address potential shortfalls in capital and income. The unit also manages the financial aspects of IDA replenishment in close collaboration with IDA Strategy and Operations Unit, including preparing financing strategy documents for the replenishment discussion and interfacing with donors on contributions.
In support of these areas of responsibility, the unit is required to establish and maintain robust analytical infrastructure in the form of models, data, systems and expertise to ensure robust support to IDA replenishment and income and balance sheet projections and scenarios to support institutional policy-formulation and the Board’s decision-making process.
In addition, the department works on the outreach and communication necessary to gather political consensus around strategic and policy decisions.
The principal areas of the individual’s work program would cover a range of responsibilities and could include: