IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.
The World Bank Group’s Finance, Competitiveness and Innovation Global Practice (FCI) combines expertise in the financial sector with expertise in private sector development to foster private-sector led growth and help create markets in client countries. FCI is an integrated World Bank and IFC Global Practice that works toward creating 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.
FCI’s agenda is split into the following thematic areas: (a) Financial Stability and Integrity, (b) Long Term Finance; (c) Financial Inclusion and Infrastructure; (d) Industry Solutions, (e) Firm Capabilities and Innovation and (f) Climate and Risk Management. The Global Practice structures and implement comprehensive financial sector and private sector solutions that bring together World Bank knowledge, financial products (loans, credits, guarantees, and risk-management products), convening services, and IFC advisory services.
The Financial Inclusion, Infrastructure and Access Team (GFCFI) has three sub-groups: The Payment Systems Development Group (PSDG) team; the Responsible Financial Access (RFA) team; and the Credit Infrastructure (CI) team. This team also co-ordinates the work on application of Fintech in financial inclusion and financial infrastructure related topics and overarching policy and regulatory approaches to Fintech.
The Credit Infrastructure team provides policy, regulatory, and technical assistance on credit reporting, secured transactions, and debt resolution processes through. The team offers structured, comprehensive and multifaceted credit-infrastructure interventions through (a) legal and regulatory reforms; (b) creating and/or strengthening credit infrastructure systems; (c) raising awareness and building capacity; (d) monitoring impact; and (e) setting international standards and promoting global knowledge and expertise.
DUTIES AND RESPONSIBILITIES
The team is now looking to hire a Senior Financial Sector Specialist to lead and/or contribute to policy, regulatory, and technical work relevant to credit infrastructure, particularly credit information, in various financial sectors, private sector development and public sector reform programs. The specialist will also support client regulators manage the emergence of new technologies in credit information and its impact on access to credit, financial inclusion and financial stability. The Senior Financial Sector Specialist should be conversant of Big data and Fintech developments.
Lead or/and contribute to the following, as task team leader (TTL), co-TTL, project member, technical lead, advisor, or reviewer of among others:
- Provision of sound technical assistance to clients and other internal stakeholders
- Manage global programs and country-level projects including consistently monitor implementation and progress of projects and recommends corrective actions where/if necessary.
- Contribute to the formulation and implementation of the credit infrastructure strategy in line with World Bank Group strategic objectives.
- Contribute to the formulation, implementation and monitoring of standards/ best practices on credit reporting
- Participate in international working groups and taskforces on credit reporting and studying emerging issues in Fintech.
- Support in ensuring effective coordination with other Global Practices (GPs), key clients and development partners
- Support to develop new initiatives/projects, leading innovation and keeping abreast/influencing industry developments.
- Support the regulators to leverage on new technology platforms and tools (including big data, data analytics, ML, AI, etc.) to promote access to credit and enhance oversight capacity.
- Lead advisory projects, budget management, project reporting (supervision cycle, DE ratings and IDG), procurement of consultants, result measurement, donor relationships
- Contribute to design and development of internal and external knowledge sharing events, forums, and networks to share lessons learned and experiences from product implementation.
- Contribute to and lead policy dialogue with client governments at the high level on credit infrastructure topics and represent the World Bank at public forums and meetings
- Write policy notes and prepare presentations on key policy issues or new policy formulations
- 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).
- Coordinate and assist in implementation/supervision of other Credit Infrastructure related work as required;
- Acts as a mentor to other staff and identifies opportunities for staff professional development. Provides feedback on performance of specific project managers/regional staff as required.
This post will involve frequent travel, including to low income countries and potentially also to fragile or conflict-affected states.
This role requires a combination of technical and operational skills, in-depth expertise in relevant areas, and a high level of motivation. The following qualifications are sought:
- Master’s degree in finance, development, economics or equivalent
- Minimum of 8 years professional work experience in policy, regulatory, compliance or supervisory experience, ideally with a financial regulator or a credit service provider; or fintech credit provider and alternative scoring provider
- In-depth knowledge of the credit reporting industry, including operational, legal, regulatory framework and supervisory oversight functions
- Experience of World Bank Group credit reporting practices including best practices and emerging trends
- Understanding of major trends in fintech and their impact to the credit infrastructure
- Exposure in evaluating and implementing emerging technologies including SupTech, Big Data, Machine Learning (ML) and Artificial Intelligence (AI)
- Conversant with other GFCFI topics including STCR and Insolvency & Debt Resolution
- Strong project management and analytical skills including specific experience gained in developing countries
- Strong interpersonal and relationship management skills and demonstrated capacity to work with a wide range of stakeholders within the World Bank Group, financial institutions, private entities and government authorities.
- Excellent oral and written English language communication. Fluency in French or Spanish would be a strong advantage for this post.
- Lead and Innovate – identify opportunities of challenging the status quo and leading in the development of innovative solutions and new insights in line with evolving WBG’s strategy and changing landscape.
- Deliver Results for Clients - Achieves results and identifies mission-driven solutions for the client.
- Knowledge Management- conduct research and shares knowledge within and outside WBG.
- Collaborate – collaborates within team and across the WBG. Ability to offer own perspective and willing to accept diverse perspectives.
- Policy Dialogue Skills - anticipates needs and requests in the field and conducts independent policy discussions with representatives of the government and non-government partners.