The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group's funded benefit plans, including the retirement scheme - the Staff Retirement Plan, the retiree medical and life insurance programs - the Retired Staff Benefits Plan, and other ancillary benefits (together referred to as “the plans”). The Pension Finance Committee, appointed by the Bank Group President and chaired by the Chief Financial Officer, has oversight responsibility for the financial management of the plans. PEN is responsible for the financial management through delegation from the PFC. This includes asset management responsibilities and actuarial support. PEN manages approximately US$38 billion invested across various asset classes, including fixed income, public equities, private equity, real assets, private credit, and absolute return strategies. PEN identifies, selects, evaluates, and monitors investments, mainly through outside managers, on a global basis. PEN’s responsibilities also include the delivery of technical assistance on multi-asset class investment management to pension plans, endowments, and funds for the future and the management of the Pension Administration function.
Portfolio Managers in PEN are allocated to a particular team upon entry and may be reassigned to other investment teams at the discretion of the Manager of Pension Investments (PENIN) in response to business priorities. This Portfolio Manager position is intended at this stage for the Private Equities portfolio.
The Portfolio Manager’s responsibilities, as a member of the Private Equities team, will include, among others, portfolio construction, manager selection, and assessing tactical allocations within developed markets as well as monitoring the portfolio of existing managers. The roles and responsibilities are outlined below:
Roles & Responsibilities:
As part of the Private Equity Team, the Portfolio Manager will assist and support the investment team in executing its work program. The specific duties will be, but are not limited to, the following tasks:
Assist with managing and supervising an existing portfolio of diversified private equity (buyout, venture capital, growth capital, distressed) investments;
Conduct due diligence and prepare documentation for new investments, including investment memos, performance analysis, team assessment, investment strategy, investment thesis, and risks, expected returns, and portfolio fit;
Review and assist in the preparation of performance reporting package on a monthly and quarterly basis (in conjunction with the middle office);
Monitor and remain current on portfolio of existing managers (via manager update reports, calls and meetings);
Maintain and strengthen the group's networks and relationships with general partners and institutional investors in the industry;
Monitor and research overall private equity markets as well as specific sub-sectors such as buyouts, venture, growth capital, and distressed strategies;
Assist in reviewing investment proposals and selecting private equity fund managers;
Assist in preparing presentations for the Pension Finance Committee; and
Assist in additional projects as needed within PEN.
Selection Criteria:
Advanced degree (Masters preferred), preferably in finance, business or economics.
Five years of relevant work experience in finance and investments, with at least two to three years of private equity fund investment-related experience or an appropriate combination of education and relevant experience.
Professional Certification such as a CFA and/or CAIA is a plus.
Proven quantitative and qualitative analytical and problem-solving skills.
Proficiency in Excel, Word, and Powerpoint is required. Familiarity with other quantitative analytical packages is desirable.
Creative thinker and quick learner with initiative, drive, and attention to detail.
Proven capacity to multi-task, deliver results, and respond quickly and effectively to requests. Ability to work under pressure.
Excellent verbal and written communication skills are required. Experience preparing and making presentations is desirable.
Good team player with strong interpersonal skills and commitment to work in a team-oriented, multi-cultural environment.
