Job #: req22754
Term Duration: 3 years 0 months
Recruitment Type: International Recruitment
Location: Washington, DC,United States
Required Language(s): English
Preferred Language(s): French, Spanish
Closing Date: 6/6/2023 (MM/DD/YYYY) at 11:59pm UTC
Do you want to build a career that is truly worthwhile? The Multilateral Investment Guarantee Agency (MIGA or Agency) is a member of the World Bank Group (WBG), and our mission is to promote foreign direct investment into developing countries to help end extreme poverty and boost share prosperity. We do that through the provision of political risk insurance and credit enhancement to investors and lenders against losses caused by noncommercial risks. For more information, visit www.miga.org.
MIGA’s Operations Department (MIGOP) is seeking a highly experienced, motivated, and proactive Underwriter with strong project finance, public sector finance, and/or political risk insurance underwriting skills, and client and new business origination skills, preferably gained in the energy and general infrastructure sectors.
The Underwriter will focus mainly on leading transaction teams and guarantee processing related tasks. The Underwriter may also work on new business origination, client relationship management, and development support activities.
Duties and Responsibilities
- As guarantee underwriting task team leader (TTL), coordinate, and lead the work of the cross-functional project teams that undertake the guarantee underwriting work within MIGA. Such underwriting work may involve the critical analysis of technical, commercial viability, legal, credit, non-commercial risk, and complex financial models associated with the investment projects being put forward for MIGA guarantee consideration
- Closely coordinate with prospective guarantee holders and World Bank Group local counterparts regarding arrangements for in-country due diligence visits, Government meetings as may be considered necessary to support the guarantee underwriting work
- Prepare high quality presentations and analytical reports, and guarantee proposal documents for the consideration of MIGA’s Senior Management and Board of Executive Directors. Such presentations, reports, documents shall cover the scope and nature of the risks to be guaranteed by MIGA, and the terms and conditions of the associated contract(s) of guarantee, including recommendations on appropriate underwriting structures and risk mitigants
- In close coordination with the relevant Sector Manager and MIGA’s Legal Department, lead the negotiation of new contracts of guarantee with prospective guarantee holders and/or their advisors, other authorized representatives, in accordance with MIGA’s underwriting policies and guarantee approval terms & conditions
- In close coordination with MIGA Senior Underwriters and Sector Managers, support MIGA’s new business origination, client management efforts aimed at generating a robust pipeline of business through highly productive client relationships
- As required, create, and deliver new business origination-focused pitches, presentations to specialist industry, client groups and forums
- Must have a Master’s degree (e.g., in Finance, Economics, International Business, or related field) and at least 5 years’ relevant experience or an equivalent combination of education and experience. Relevant experience includes limited non-recourse project finance work and/or analyzing and executing commercial or public sector investments, financial analysis with a focus on complex transactions in the emerging markets general infrastructure and energy sectors. Such experience ideally gained with a reputable and well known global financial institution (MDB or Private sector)
- Solid work experience related to negotiating complex financial, and guarantee contracts
- Extensive knowledge of emerging markets finance and economic development and an understanding of issues related to investment insurance and foreign direct investment in emerging markets
- Demonstrated high-level understanding of political, sovereign risk guarantee products, and their application in the project and export finance banking fields
- Demonstrated technical underwriting skills, and proven track record in complex project risk underwriting and/or project and corporate finance
- Excellent analytical and communication skills (both written and oral)
- Effective interpersonal skills and ability to interact effectively with clients and colleagues from various cultural backgrounds under time pressure
- Ability to work independently and as a Task Team Lead
- Fluency in spoken and written English required, and fluency in French and or Spanish desired
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.
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