Senior Financial Sector Specialist
Job #: req22486
Organization: World Bank
Sector: Financial Sector
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
Location: Kuala Lumpur,Malaysia
Required Language(s): English
Preferred Language(s): Closing Date: 5/22/2023 (MM/DD/YYYY) at 11:59pm UTC
Do you want to build a career that is truly worthwhile? The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. https://ww.worldbank.org.
East Asia and the Pacific (EAP) Region
EAP is a large and diverse region, ranging from Small Island States of the Pacific to the Philippines and China! Despite substantial economic growth and poverty reduction, the EAP region faces huge development challenges. Growth has been uneven across and within countries, institutions still need strengthening, and most countries are heavily affected by climate change. The Bank plays a meaningful role on global public goods, including climate, biodiversity, water pollution, and health. The COVID pandemic, and more recently food and energy price increases are compounding the impact of the global economic slowdown. The World Bank Group is seen as a premier development institution in the Region, with a leadership role on analytical and advisory services as well as financing.
East Asia and the Pacific Region: https://www.worldbank.org/en/region/ea
THE ROLE OF THE GLOBAL PRACTICE FOR FINANCE, COMPETITIVENESS AND INNOVATION (FCI) IN THE WBG
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 build markets in client countries. FCI is an integrated World Bank and IFC Global Practice promoting inclusive and sustainable growth in a transforming world through finance and private sector solutions. FCI delivers tailored development solutions to countries and the global community at large, working with public and private sector clients. FCI structures and implements 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.
FCI comprises more than 700 staff working across more than 120 countries, covering all regions: Africa, Eastern Europe and Central Asia, East Asia and Pacific, Latin America and the Caribbean, Middle East and North Africa, and South Asia.
The menu of solutions that FCI offers through its lending and advisory services is consistently evolving along with changes in the financial sector. It encompasses diverse areas such as financial stability and integrity, climate and risk management, credit bureaus, movable collateral, secured transactions, capital markets, infrastructure finance, housing finance, agriculture finance, financial inclusion and digital financial services. The World Bank also seeks to meet demand for just-in-time expertise and to serve as a knowledge broker across all regions.
FCI seeks to attract new staff with a strong financial sector background and experience to implement FCI’s growing work program at the World Bank Inclusive Growth and Sustainable Finance hub in Malaysia. The World Bank Malaysia program was established in 2015 to share Malaysia’s developmental experiences with other countries around the world and has served to provide technical assistance to the Malaysian authorities on a range of issues, with extensive coverage of topics related to financial sector development. Specifically, recent areas of focus of the FCI work in Malaysia include sustainable finance, Islamic finance, financial sector stability, and financial inclusion.
DUTIES AND ACCOUNTABILITIES
The candidate will be expected to contribute directly to the World Bank knowledge generation, technical assistance, and convening activities for Malaysian and other regional authorities, including:
- Provide intellectual and technical leadership to the FCI Team working in Malaysia, in core areas of focus such as Islamic finance (including both takaful and capital market development), social finance, sustainable finance, and financial inclusion. As part of this task, the candidate is expected to provide sound advice regarding policy options for policymakers, underpinned by solid analytic basis and that are attuned to specific country circumstances.
- Support technical assistance efforts that are attuned to specific country circumstances based upon the analysis of relevant data and literature and stakeholder discussions. As part of this task, the candidate is expected to engage with technical experts from various units in FCI, DEC, World Bank Treasury, and other parts of the World Bank Group, as well as external consultants as needed, to ensure effective and timely delivery of activities related to the primary areas of coverage such as analytical reports, technical notes on groundbreaking issues, and capacity building workshops.
- Conduct strategic policy dialogue with a wide range of policy makers in Malaysia, including Bank Negara Malaysia, Securities Commission of Malaysia, Ministry of Finance, on the primary areas of coverage.
- Designing and implement program plans for convening activities for Malaysian and other regional financial sector stakeholders.
- Support efforts to disseminate best practices from Malaysia’s financial sector development experience within and outside of the World Bank; encourage South-South knowledge exchange as well as cross-support and cross-fertilization of knowledge inside and outside the Bank.
This job requires a seasoned FCI professional with strong technical skills and demonstrated capacity to deliver a solid work program to demanding clients. Selected candidate will have demonstrated an ability to manage large teams and complex assignments and mentor team members effectively, deliver results on the ground, and lead high level policy dialogue. The following qualifications will be considered:
- A master’s degree in Business Administration, Finance, Economics, or a related field. A PhD. would be a plus.
- Minimum of 8 years of proven experience in banking sector, capital markets, Treasury, sustainable finance, and/or Islamic finance.
- Technical expertise in the area of Islamic finance, including experience working with Islamic financial institutions and/or the deployment of Islamic financing instruments.
- Working experience in the development of new financial instruments to catalyze sustainable finance, for both conventional and Islamic financial markets, would be a plus.
- Solid technical skills and professional recognition by clients and World Bank colleagues in one of the financial sector development areas of the job focus.
- Preferable work experience in a development policy function at a financial sector regulator or a senior position in treasury or investment management at a financial institution prior to joining the World Bank Group.
- Strong results focus, with a track record of leading teams to deliver high impact projects and activities.
- Proven ability to engage in policy dialogue relating to the financial sector, including well-developed relationship skills working with financial sector authorities and sensitivity in dealing with authorities and regulators.
- Proven ability to be innovative and “push the boundaries” on the FCI themes.
- Should be a mature professional with proven track record to mentor and incentivize teams, encourage confidence in senior country officials, and work in a culturally diverse environment.
- Strong presentation and oral communication skills in English.
- Outstanding inter-personal, organizational, communication skills, and good teammate.
- Knowledge and practical experience working with financial sector stakeholders in Malaysia and other parts of South-East Asia would be a plus.
- Passion for promoting development solutions and ability to link finance and development.
- Innovate – drives innovation within primary areas of coverage in green finance, sustainable finance and Islamic finance.
- Deliver Results for Clients – Acts as a trusted, strategic advisor, partnering with clients to deliver results.
- Collaborate Within Teams and Across Boundaries – collaborates across WBG and with partners drawing on robust professional networks.
- Create, Apply and Share Knowledge supports establishment of an environment where knowledge is created, applied and shared.
- Make Smart Decisions – Makes timely decisions that have a broad impact.
- Knowledge & Experience – Demonstrates expert knowledge of capital market development issues, especially with regards to green, sustainable and Islamic finance; leads strategic discussions dialogues with stakeholders and counterparties.
- GP/Network Representation – Demonstrates ability to coordinate, participate in, and act as a catalyst for, strategic cross-sector dialogues within the global practice, across the country, among Bank colleagues and other development institutions, government, and other organizations.
- CMU/Global Practice Integration – Able to act as a facilitator for the global practice teams and country units, as well as with clients, promoting integrated development solutions.
- Project Design for Impact and Sustainability – Gauges appropriately the time/resources required to undertake a specific reform, design a policy / program, or improve efficiency of key procedures/systems.
- Sector Dialogue – Able to lead a broad dialogue with the client, including high-level officials, based on an understanding of the client’s objectives and constraints.
- Operational Project Management – Demonstrates expert knowledge and understanding of project management tools & methodologies; ability to manage complex, projects/programs
- Operational Policies Application to the Project Cycle (fiduciary, disbursement, safeguard and GAC policies) – Possesses a thorough understanding of fiduciary, disbursement, safeguard and GAC policies;
- Policy, Strategic and Technical Analysis for Country/Sector Issues – Leads through ASA work the analysis of key development issues; proven ability to draw policy options underpinned by solid analytic basis and that are attuned to specific country circumstances.
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.