Senior Underwriter

World Bank Group • Washington, DC

12d • Onsite

About The Position

The Multilateral Investment Guarantee Agency (MIGA or Agency) is a member of the World Bank Group, and our mission is to promote foreign direct investment into developing countries to help end extreme poverty and boost shared prosperity on a livable planet. We do that through the provision of political risk insurance and public sector credit guarantees to investors and lenders against losses caused by noncommercial risks. For more information,www.miga.org In July 2024, the World Bank Group launched the WBG Guarantee Platform (WB GP), a major upgrade to its guarantees business, that will deliver improved guarantee access through a unified team at MIGA as well as innovative new guarantee solutions. These new reforms will help position MIGA to achieve the goal of tripling annual guarantee issuance to $20 billion by 2030. To meet this goal and maximize its development mandate, MIGA must stay focused on supporting the needs of MIGA’s developing member countries, while complementing the activities of other public and private insurers. MIGA’s operational priorities focus on: investments in IDA countries; investments in conflict-afflicted environments; support for complex and innovative deals, especially those involving project financing (in particular infrastructure, extractive industries and climate change); and support for South-South investments. To further develop the Agency’s business and foster innovation in the WB Guarantee Platform in these core areas and to meet the evolving needs of investors in developing and emerging markets, MIGA’s FIG ( Financial Institutions Group ) Operations Department (MIGOP) seeks a Lead Structured Products Specialist with extensive financial sector experience in Structured Finance and Capital Markets who will identify new business opportunities for MIGA and WB’s GP, achieve business targets and help grow MIGA’s guarantee business. This position will be based in Washington D.C. The selected candidate will report to MIGA’s Financial Institutions Group Manager based in Washington D.C.

Requirements

• Master’s degree in business, finance, economics, or other related areas;
• At least 8 years of relevant work experience in global financial institution and/or development finance institution (DFI);
• Strong experience in and in-depth understanding of industry trends and related regulatory frameworks.
• Solid track record of delivery in structured finance and/or guarantee products, particularly in respect of capital relief or risk sharing facilities;
• Good network of financial institutions, investment banks and institutional investors
• Exceptional negotiation, financial and credit skills; demonstrated ability to structure a variety of sophisticated financial structures;
• Excellent management skills with a proven track record of success in developing client relationships and execution of client engagements;
• Excellent business judgment and strong analytical and problem-solving skills to identify issues and present creative, practical solutions;
• Demonstrated experience leading teams and a proven track record in delivering high quality work results;
• Excellent team player, able to mentor and train more junior staff;
• High degree of discretion, ethics, tack, and sensitivity in handling confidential and sensitive information; ability to maintain high standard of personal integrity;
• Excellent oral and written presentation skills in English is required;
• Willingness to travel.

Nice To Haves

• an additional major language, such as Spanish and/or French, is desirable

Responsibilities

• Leveraging MIGA/WB/IFC public sector guarantee products within the WBG Guarantee Platform to develop structures that mobilize private sector financing through credit enhancement and/or capital relief in emerging markets;
• Evaluating, structuring and negotiating guarantees with counterparties that could enable RWA/capital relief for banks;
• Collaborating with other units within MIGA, IFC, and the WBG to deliver high level business results, with a particular focus on innovation and financial sector solutions;
• Within MIGA, ensuring close collaboration on current initiatives with colleagues based in the regions and sectors, especially with MIGA’s innovation team;
• Liaising with MIGA’s and the WBG Guarantee Platform’s clients, particularly with global banks and institutional investors to explore new structures, understand regulatory constraints and bankability issues;
• Managing financial sector client relationships as needed;
• Helping in the development and implementation of internal requirements, which includes liaising with other departments within MIGA, associated with a growing business line of sophisticated financial instruments;
• Identifying new business opportunities for MIGA and WB Guarantee Platform using Blended Finance modalities at MIGA’s disposal, among other business development tools;
• Meeting with prospective clients to market MIGA's guarantee products as well as with MIGA partners to better understand the market for political risk insurance and public sector credit risk guarantee solutions in priority areas and to identify new market opportunities for MIGA and the WB GP;
• Supervising and mentoring junior staff and;
• Advising MIGA's Management Team on business development strategies as needed.

Benefits

• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Number of Employees: 5,001-10,000 employees