Senior Financial Sector Specialist - Pacific, Sydney, Australia

• Organization: IFC - International Finance Corporation
• Country: Australia
• City: Sydney, Australia
• Office: IFC - International Finance Corporation in Sydney
• Follow @UNjobs

 

Closing date: Wednesday, 29 November 2017

Senior Financial Sector Specialist - Pacific
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity.
For more information, visit www.ifc.org. Established in 1944, the WBG is one of the world's largest sources of funding and knowledge for development solutions. In fiscal year 2015, the WBG committed $60 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $19 billion was concessional finance to its poorest members. It is governed by 188 member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.
The WBG consists of five specialized institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). The global development community is at an auspicious turning point in history. Thanks to the success of the past few decades and favorable economic growth, developing countries now have an unprecedented opportunity to end extreme poverty within a generation. This is the vision of the WBG: to eradicate extreme poverty by reducing the number of people living on less than $1.90 a day to 3 percent by 2030, and promote shared prosperity by fostering the income growth of the bottom 40 percent in every country. To achieve this vision, the WBG Board of Governors approved a strategy for the organization in 2013.
This strategy leverages, for the first time, the combined strength of the WBG institutions and their unique ability to partner with the public and private sectors to deliver customized development solutions backed by finance, world class knowledge and convening services. The strategy has three components: (1) maximizing development impact by engaging country clients in identifying and tackling the most difficult development challenges; (2) promoting scaled-up partnerships that are strategically aligned with the goals; and (3) crowding in public and private resources, expertise and ideas. The architecture underpinning the strategy and instrumental to its success is an operating model introduced in July 2014 based on fourteen Global Practices (GPs) five Cross-Cutting Solution Areas (CCSAs). Since July 1, 2015 these 14 GPs are organized under 3 Practice Group Vice Presidencies: Sustainable Development; Economics, Finance and Institutions; and Human Development.
THE ROLE OF THE GLOBAL PRACTICE FOR FINANCE, COMPETITIVENESS AND INNOVATION IN THE WBG
As of January 1, 2018, EFI will create the Finance, Competitiveness and Innovation (FCI) Global Practice, bringing together Finance and Markets (F&M) and Trade and Competitiveness' (T&C's) private sector development specialists. Finance, Competitiveness and Innovation will comprise about 700 staff working across more than 120 countries. The Practice capitalize on the synergies between the F&M and T&C in fostering private-sector led growth. The Practice will work 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 will also house the IFC Implementation Units focused on implementing public sector advisory work in support of the finance and entrepreneurship agenda across all six regions. About one third of FCI professional staff are decentralized to the field working closely with the CMUs and in proximity to clients. FCI professionals also lead or participate in a wide variety of ASA and client advisory work that add to the core expertise delivered to client countries. Knowledge and learning is a central part of the FCI agenda, with work focused on 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.
FCI will work closely with the other newly formed Global Practice for Macroeconomics, Trade and Investment (MTI) on systematic country diagnostics, country strategies, policy lending and other private sector diagnostics, ASA and lending activities. The FCI Global Practice is seeking a Senior Financial Sector Specialist for the FCI team in the Pacific. The World Bank Group is committed to achieving diversity in terms of race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply.
FCI IN THE PACIFIC REGION
Thematically, the FCI practice is currently organized around the following themes for its financial sector work:

• Strengthening the foundations of stable financial systems and markets by supporting global financial sector oversight frameworks and policies; strengthening banking regulation and restructuring regimes; improving financial sector integrity efforts and deepening capital markets, insurance, pensions and investment funds;
• Improving financial infrastructure and access through its work on credit infrastructures; payment and market infrastructures; responsible financial access: and SME finance
• Long-term finance including climate change finance, disaster risk finance and insurance, infrastructure finance, agriculture finance and housing finance. The current Pacific financial sector portfolio includes payments system, capital markets, MSME finance, mobile banking, financial capability and responsible finance, remittances, and AML policies. The team work from at three generic levels: national policy and legislation, infrastructure, and institutional level to deliver initiatives that supports the WBG twin goals. Our stakeholders include Central Bank Governors, Prime Ministers, Ministers for Treasury and Finance, Heads of Industry associations, CEOs and senior Management of public and private sector financial institutions. Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 2 year term appointment.

Background / General description
To support the growth of the Pacific FCI portfolio in the Pacific and Timor-Leste, the team is seeking a Senior Financial Sector Specialist with a strong background in at least two thematic areas of the portfolio plus demonstrated experience in development in small islands. The selected candidate will be based in Sydney Australia. Given the Pacific nature of FCI work, the candidate would be expected that he/she travels at least 40% of the time. This position is intended to lead FCI work in several countries in the Pacific including PNG, Fiji, Vanuatu, Samoa, Tonga, Solomon Islands and Timor Leste. FCI work environment is team based. The selected candidate will take leadership on an area of the portfolio including 2-3 projects, work with others to execute a workplan, and be part of different teams led by others. He/she would be expected to participate actively in team meetings, contribute ideas, lead problem solving discussions, challenge and be challenged by others. He/she would also take a share of general administrative tasks associated with our work.
Key responsibilities:

• Create and lead the implementation of FCI strategies that help develop financially inclusive market ecosystems based on digital financial services. This includes developing and sustaining over time a deep knowledge of country markets and defining FCI's role and activities in each market in a way that strategically maximizes FCI's unique strengths. It is also includes managing the work of other staff and consultants towards the implementation of country specific strategies as required. Where obstacles arise in implementing strategy, proactively use creative and independent judgment to generate solutions.
• Build relationships at the CEO and senior management level of central banks, key ministries in government, banks, telcos and other finance providers in order to influence decision-making at the highest levels. Work with a range of businesses to tackle specific challenges or generate solutions to learning questions that will lead to demonstration success cases in-country.
• Lead and conduct FCI's high-level dialogue with senior policy makers, business leaders, funders, investors, academics and others in ways that influence policies towards enabling and promoting inclusive ecosystem development.
• Contribute towards implementing FCI strategy, identify opportunities for all FCI initiatives to contribute to appropriate market ecosystem development and facilitate those initiatives to do work in the core countries.
• Make regular and significant contributions to FCI's global knowledge agenda. This includes developing compelling narratives and structuring/writing knowledge products (such as blogs, decks, Briefs, Focus Notes) that effectively share this narrative.
• Represent and be a spokesperson for FCI.

Duties and Accountabilities
Candidates must demonstrate competencies in the following areas:

• Lead and Innovate - Develops innovative solutions.
• Deliver Results for Clients - Proactively addresses clients' stated and unstated needs.
• Collaborate within Teams and Across Boundaries - Collaborates across boundaries, gives own perspective and willingly receives diverse perspectives.
• Create, Apply and Share Knowledge - Applies knowledge across WBG to strengthen solutions for internal and/or external clients.
• Make Smart Decisions - Interprets a wide range of information and pushes to move forward.
• Project Design for Impact and Sustainability - Carries out, under senior staff guidance, data collection on and analysis of relevant issues, and provides inputs to key documents.
• Sector Dialogue - For use in client discussions and advice, conducts effective data collection and analysis of relevant issues.
• Operational Project Management - Demonstrates broad knowledge of project management tools & methodologies; identifies key risks and mitigation measures; interprets background analysis and proposed solutions.
• Operational Policies Application to the Project Cycle (fiduciary, disbursement, safeguard and GAC policies) - Has a basic understanding of operational policies, sufficient to review project documents and reports and to help develop procurement plans and action plans; takes steps to expand his/her knowledge of operations.
• Team Leadership - Leads teams to achieve objectives, providing the needed direction and structure, and resolving problems of both a technical and interpersonal nature. In addition to meeting these fundamental competencies, it is expected that the selected candidate would meet the following criteria:
• Demonstrate in-depth experience in at least two of the key areas of the portfolio
• At least 8 years' experience working in development environment, preferably in small fragile counties
• Master's degree in technical area, economics, MBA or other relevant field, at least 10 years of professional experience related to the provision of financial services (direct provision of financial services; consulting; or international development)
• Experience conducting analysis of business models, partnership structures in the provision of financial services to underserved segments.
• Good understanding of the obstacles, and the opportunities, of providing financial services to low income people. In particular strong instincts or experience practically designing and executing projects in dynamic and complex low-income environments.
• Business-level understanding of different aspects of technology associated to the provision of financial services, for example relating to mobile phones, telecommunications, payments infrastructure (cards, ATMs, switches), core banking systems and payment platforms
• Experience driving development of innovations in financial services. Ideally familiarity taking things through rapid prototyping, pilot and full commercial launch. Exposure to demand side client-focused analytics for delivery
• Ideally, the candidate would have had some exposure to technologies that implement an open systems architecture, including APIs, Internet business models, and interaction with software developers
• A proven ability to write and speak articulately on complex topics for a wide global audiencePersonal skills:
• Innovator, creative thinker
• Can structure his/her thinking and plan well
• Strategic orientation, able to see the big picture, comfortable with abstract ideas
• Strong analytical skills; ability to work with numbers and synthesize relevant messages and implications
• Results-oriented, takes a hands-on approach, ability to quickly go from ideas to action
• Great people skills, collaborating with others to solve problems, and enjoy leading and working in teams
• Advanced communication skills for presenting, speaking, and clear business writing in English
• Ability to work independently on complex problems IFC values diversity and encourages all qualified candidates who are nationals of IFC member countries to apply, regardless of gender, gender identity, religion, race, ethnicity, sexual orientation, or disability. Sub-Saharan African nationals, Caribbean nationals, and female candidates are strongly encouraged to apply.