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: