Economist, IDA Strategy and Operations

Job #:

req22491

Organization:

World Bank

Sector:

Economics

Grade:

GF

Term Duration:

4 years 0 months

Recruitment Type:

International Recruitment

Location:

Washington, DC,United States

Required Language(s):

Preferred Language(s):

Closing Date:

5/17/2023 (MM/DD/YYYY) at 11:59pm UTC

Description

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. For more information, visit www.worldbank.org

The Development Finance Vice-Presidency (DFi) is responsible for the management and monitoring of policies, procedures and resources for the World Bank's development financing vehicles. DFi sets the policy framework for the World Bank Group's development finance by engaging in strategic resource mobilization, playing an intermediation role to help align the needs of recipients, WBG institutional priorities, and priorities of funding partners, through a variety of funding instruments. These include the International Development Association (IDA), the World Bank's fund for the poorest, the International Bank for Reconstruction and Development (IBRD), and Trust Funds, including Financial Intermediary Funds (FIFs).

Given the nature and variety of this portfolio, DFi works closely with the Managing Directors, Executive Directors, WBG senior management, corporate and operations units across the WBG, funding partners and government officials. The Forward Look exercise and Maximizing Finance for Development (the Cascade approach) present opportunities to further strengthen the Bank Group approach to development finance. DFI is also involved in the WBG Evolution discussions that will set the direction for the WBG for decades. As such, DFi is structured to provide the institution with a more holistic approach to financing, financial policy, and strategic fundraising across IDA, IBRD, and Bank/IFC trust funds and partnerships.

Within DFI, Corporate IDA and IBRD (DFCII) is responsible for the replenishment and stewardship of IDA, the Bank's principal facility for providing highly concessional resources to the world's poorest countries, as well as for supporting senior managers and the WBG Board in IBRD's financial management by recommending policies and strategies related to IBRD medium-term financial and capital planning, overall balance sheet management, and annual decisions on loan terms and income allocation. The unit has recently shepherded the IDA20 replenishment process to a successful conclusion to support countries' post pandemic economic recovery as well as investments for a greener, resilient and inclusive development. To help countries build back greener, IDA20 will prioritize tackling climate change, with a focus on helping countries to adapt to rising climate impacts and preserve biodiversity. IDA will deepen support to countries to better prepare for future crises, including pandemics, financial shocks, and natural hazards. Furthermore, IDA20 will support countries in prioritizing investments in human capital, covering issues such as education, health and nutrition, vaccines, safety nets, and support for people with disabilities. IDA will also address other major challenges such as gender inequality, job creation, as well as fragility, conflict, and violence, including in the Sahel, the Lake Chad region, and the Horn of Africa. A continued emphasis on governance and institutions, debt sustainability, and digital infrastructure interventions will help foster economic and social inclusion. The unit is now in the middle of the preparations for the IDA20 Mid Term Review (to take place in December 2023) and will start shortly after with the discussions for the IDA21 replenishment.

DFCII monitors the implementation of the IDA policy mandates within the Bank, undertakes a significant policy research agenda, and participates in review activities at the country and institutional levels. In addition, DFCII manages the allocation of IDA resources (both volumes and terms) to eligible countries as per IDA priorities and maintains policy dialogue with donors. Working closely with other Departments notably OPCS, Regions, and Global Practices, it takes the lead in preparing IDA MTR and replenishment papers which form the basis for policy discussions with contributing countries and borrower representatives.

DFCII consists of two units, the IBRD-IDA Corporate Finance unit and the IDA Strategy and Operations unit. DFCII is looking for an Economist to join the IDA Strategy and Operations unit, which is responsible for the operational aspects of IDA, including development of policies for the allocation of IDA resources, implementation of IDA's operational policies, the Sustainable Development Finance Policy (SDFP) Secretariat which addresses debt vulnerabilities in IDA borrowers, and the Private Sector Window Secretariat. The unit is also in charge of developing and undertaking a research program on IDA's long-term strategic agenda and aid architecture, including to catalyze IDA resources towards delivering on the WBG goals and the 2030 development agenda. The Strategy and Operations Unit is made up of a diverse, experienced, and motivated team of economists, finance and development specialists.

Roles & Responsibility:

The Economist will be based in Washington DC and report to the DFCII Strategy and Operations Manager. The Economist will be expected to contribute and participate in several activities in the unit, such as the following:

• Participate in the activities of the SDFP secretariat and other activities related to the implementation of the policy, including as reviewer for a set of countries in one of the clusters.
• Assess and monitor IDA country engagement products and operations for assigned countries to ensure IDA priorities are adequately captured. This may include reviewing Country Partnership Frameworks, Progress and Learning Reviews, development policy operations and selected investment lending operations.
• Contribute to the analysis of options on IDA reforms, including mechanisms to increase IDA's ability to mobilize resources for poverty alleviation, global public goods, Sustainable Development Goals, vulnerability, resilience and to crowd in the private sector.
• Assist in reviewing research papers and/or other proposals on which DFi's comments are sought, including on aid architecture.

• Support the administration of the IDA Grant allocation system.
• Active member of the unit's Debt team, dealing with all debt related and economic issues and tasks
• Undertake other ad hoc tasks as assigned by the Manager of the Strategy and Operations Unit to meet DFI's business needs.
• Lead and/ or contribute to the preparation of papers and material to inform discussions with IDA donors and clients during the IDA cycle (IDA20 Mid Term Review, IDA21 Replenishment Negotiations).

Selection Criteria

• Master's degree in Economics and minimum of 5 years of relevant work experience.
• Demonstrated understanding of IDA's role in the international aid architecture.
• Demonstrated econometric modelling skills and strong economic reasoning
• Excellent workflow management and task organization skills; able to take responsibility for all aspects of coordination of the workflow of assigned responsibilities.
• Strong analytical skills in macroeconomic and fiscal management and proven ability to conduct policy-relevant research.
• Ability to work flexibly on a range of assignments and adjust to a variety of complex evolving tasks to meet deadlines.
• Creates, applies and shares knowledge from across and outside WBG to strengthen internal and/or external client solutions.
• Drive for Results: Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results and has the personal organization to do so.
• Teamwork (Collaboration) and Inclusion: Collaborates with other team members and contributes productively to the team's work and output, demonstrating respect for different points of view.
• Business Judgment and Analytical Decision Making: Analyzes facts and data to support sound, logical decisions regarding own and others' work.

In addition to the Bank-wide criteria listed below, the successful candidate for this position should have demonstrated technical skills, including interpersonal and integrative skills, with proven capacity to operate and collaborate successfully across GPs, with management, with other development partners, other officials of contributing governments, and with members of client countries and other stakeholders.

Competencies:

Integrative Skills

• >Demonstrates understanding of working across WBG, practices and sectors

• >Demonstrates strong integrative thinking and ability to support project teams in developing an integrated point of view around development challenges

• >Demonstrates ability to seek out, collate and synthesize inputs from across sectoral and thematic boundaries

Policy Dialogue Skills

• >Identifies and assesses policy issues and communicates findings/ points of view verbally and through reports and papers

• >Plays an active role in the dialogue with government and/or other stakeholders as part of Bank teams

Knowledge and Experience In Development Arena

• >Demonstrates full familiarity with the World Bank Group's organizational structure, complementarities among different Bank Group agencies, with an ability to apply this knowledge

• >Understands policy making process and the role of own sector of expertise in that process.

• >Demonstrates familiarity with Bank's development initiatives and policies and practices related to lending and non-lending operations

• >Finds relevant information/data and examines similar policy questions in multiple regions

Communication & Influencing Skills:

• >Tailors communication style to meet audience needs and delivers information effectively in support of team or workgroup

• >Has strong analytical writing ability

Technical Skills

• >Possesses cross-country knowledge in macro/fiscal and debt issues and demonstrates ability to link the macro, institutional, and microlevel functional aspects; able to support findings/policy recommendations with credible analysis and tools

• >Desirable: Experience in a debt management office and/or a central bank having worked on debt management issues or a related field in finance.

>Strong theoretical and practical skills to undertake debt sustainability analyses in low income countries, which informs IDA's SDFP and various aspects of country allocations during a replenishment cycle.

This internal requisition is open to WBG and IMF staff only (including short-term and extended term consultants/ temporaries). External candidates are requested not to apply. In case an external candidate applies, their application will not be considered

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.