Regional Practice Director, Prosperity

World Bank Group•Washington, DC

5d•Onsite

About The Position

The World Bank Group is a unique global partnership of five institutions driven by a bold vision to create a world free of poverty on a livable planet. As one of the largest sources of funding and knowledge for developing countries, we help solve the world’s greatest development challenges. When you join the World Bank Group, you become part of a dynamic, diverse organization with 189 member countries and more than 120 offices worldwide. We work with public and private sector partners, invest in groundbreaking projects, and use data, research, and technology to bring tangible and transformative change around the globe. For more information, visit www.worldbank.org. VPU Context: The World Bank Group serves 33 client countries in Latin America and the Caribbean Region (LCR). Clients range from large rapidly growing sophisticated middle-income clients to IDA countries to small Caribbean states to one fragile state, and to varying degrees face three key challenges – low productivity and growth, low quality jobs and low resilience to shocks. The region is tackling these challenges with a strong WBG approach, underpinned by selectivity and complementarity between the value added of public and private arms, and in strong partnership with relevant regional development partners. A.The challenge of low growth. After recovering lost output, the region is returning to pre-pandemic low growth and productivity scenario. After a solid post-pandemic rebound in economic activity (7.2% and 3.9% growth in 2021 and 2022 respectively), GDP growth returned to the pre-pandemic low growth around 2.2% in 2023 and 2024, with a medium-term outlook of 2.5%. There are also represents stark differences in opportunity, a child born today in the poorest 20% quintile in LAC will on average be 17 percentage points less productive than a child born in the richest 20%. B.The challenge of quality jobs: the need for better quality jobs is paramount, with 6.2% unemployment rates, these low levels mask a deeper issue of job quality. Reflecting stagnating living standards, labor earnings have only grown by 1% or less per year in most countries over the past decade, and some 19% of workers in the region are earning income below the poverty line. •Investing in foundational infrastructure critical to job creation, LAC needs to invest at least 3.1% of GDP in infrastructure investments per year, yet it only invests 2%, which is significantly lower than the world average of 5.4% of GDP. This underinvestment in physical infrastructure, including in key infrastructure sectors (including resilient transport, water, energy etc.) is holding back potential for better jobs. The region supports clients by supporting selective transformative infrastructure projects (e.g. urban mobility, regional transport and connectivity). On human infrastructure challenge, firms in the region continue to cite skills shortages (55% of firms in LAC vs 45% in MIC regions) as a key barrier to growth and job creation. A child born in LAC is expected to reach only 56 percent of their productive potential. Three out of four 15-year-olds fail basic math proficiency and cannot read adequately the soft side involves supporting clients revamp their education and health sectors. The region is supporting clients to revamp their education and health care sectors. •The LAC region also needs to foster a predictable, business-enabling policy and regulatory environment. These include ensuring macro stability, eliminating restrictive business regulations in product and factor markets, and improving access to finance, especially long-term capital. Labor market regulations in LAC are noted to be on par with the most restrictive labor market regimes among OECD countries. Further, enforcement of competition policy needs to be supported due to high levels of market concentration in LAC markets. •Private capital is needed to support the provision of public goods and investments in key sectors, especially those that have the highest potential to enable and/or create better quality jobs. However, at only 19.8% of GDP, gross capital formation remains lowest among all regions (EAP is at 38% and South Asia at 30%). Private capital mobilization in the region is being held back by shallow capital markets, lack of long-term finance, high cost of capital, regulatory and institutional barriers (including in PPP frameworks). Based on country contexts, the WBG will support investments in productive clusters (energy/mining, value added manufacturing, agribusiness, tourism, etc.) across the public-private spectrum. •The challenge of vulnerability to shocks. Building resilience of the countries to shocks, including natural disasters, through contingent financing and other innovative risk management platforms at country and regional levels is critical given the high exposure to climate–related disasters and natural hazards. Central America and the Caribbean suffer recurrent hurricanes that have impacts on GDP significantly higher than the regional average. Several countries are experiencing deep, long droughts, increasingly intense storms, and floods that disrupt economic activities and affect livelihoods, with impacts on the most vulnerable populations. The Role of the Prosperity Practice Group: The Prosperity Practice Group combines expertise in finance and private sector development, macroeconomics, fiscal policy, taxation, governance, anticorruption, procurement and poverty among other areas. The Prosperity program in LCR includes an FY26 lending program of 20 operations for over $5 billion in new commitments, an active project portfolio of 41 operations with $11 billion under implementation, and a dynamic program of more than 40 advisory services and analytics (ASA) across all Prosperity sectors.

Requirements

Advanced degree (Master’s or PhD) in economics or related field, with a minimum of 15 years of experience in positions of growing complexity and responsibility
Recognized expert within WBG or among one or more of the following: academia, private sector actors and policymakers – and with a proven track record of applying practice know-how and effective policy dialogue to achieve development results
Experience and ability to engage with clients at the senior level and represent the Bank at high-level international fora
Demonstrated thought leadership through economic research and publications recognized by academic and policy community
Substantive experience working in client countries of different regions and familiarity with the WBG services including deep technical knowledge and experience on policy
Demonstrated in-depth experience working across practice and disciplinary boundaries, with different units of the WBG and with multiple partners both public and private in building collaborative alliances for results
Strong communication skills in both English and Spanish
Extensive experience managing complex and large work programs, budgets, portfolio monitoring and supervision with proven results
Proven ability to effectively implement complex change management initiatives
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.

Nice To Haves

Preferred Language(s):

Responsibilities

The Regional Director will be accountable for modeling WBG leadership values and managerial behavior, and ensure that the unit delivers on its commitments. Accountability means being answerable for making strategic choices, managing quality, risks, results, institutional initiatives, external and internal resources, and compliance with WBG policies and procedures.
Collaborate with the GDs of other GPs, with the RDs, and with DEC and IFC;
Support the VPU management team in setting the PGs’s key strategic priorities to guide institution-wide work and in collaboration with CDs, in establishing global and country goals to ensure alignment with the WBG Strategy and Country Partnership Framework;
Draw on thought leadership and implementation know-how within the GP and across Practices to ensure high impact evidence-based solutions
Assist the PG’s management team to build and maintain a balanced portfolio of innovative, cost-effective, and demand-driven products and services
Implement quality control processes, including analytical work, technical assistance, and lending operations
Ensure availability and maintenance of portfolio, pipeline, staff, and budget information as well as portfolio and practice quality and performance metrics to inform WBG management
Represent the GP and PG on corporate strategic issues to ensure that operational policies, practices and procedures align with quality service delivery to clients
Model exemplary WBG leadership values and managerial behavior and reinforces these qualities in the management team and staff
Contribute to and implement and monitor compliance with talent management, diversity, and inclusion plans
Drive and encourage technical excellence within the GP by creating an environment of learning and innovation that attracts and develops the best talent reflective of the diversity of our clients
Coordinate and support the GP management in developing and implementing appropriate strategies for global staffing, deployment, staff learning and development as well as career progression and talent and performance management
Engage with Managers, other Regional and Global Directors, and DEC to develop a knowledge and learning strategy and approach for the GP that integrates cross-cutting solution area considerations and multi-sectoral links
Ensure timely flow, capture, codification and dissemination of knowledge and expertise so that clients receive the highest quality support and knowledge
Support the coordination of innovative and cross-cutting research, as well as the dissemination of technical and experiential knowledge and learning
Encourage a culture of evidence-based, and client tailored engagement for highest development impact
Establish new and cutting-edge knowledge reflected in staff learning and development
Manage the department’s budget (internal and external funds) to support the implementation of the (sector) Directorate strategy
Ensure the GP Management accountability for delivering the agreed-upon work program through cost-effective use of resources (human and budget) within the agreed parameters and in compliance with internal WBG fiduciary and safeguard controls and policies, and ensures timely delivery and overall quality of the GP’s outputs
Ensure implementation of an appropriate risk management framework to meet (sector) unit’s objectives