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Type of Role: Investments

Experience Level: VP/Principal/Director

Location: Washington, D.C.

Salary: $108K - $108K

Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. 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. Details below.

The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group’s funded benefit plans, including the retirement scheme – the Staff Retirement Plan, the retiree medical and life insurance programs – the Retired Staff Benefits Plan, and other ancillary benefits (together referred to as “the plans”). The Pension Finance Committee, appointed by the Bank Group President and chaired by the Chief Financial Officer, has oversight responsibility for the financial management of the plans.  PEN is responsible for financial management through delegation from the PFC. This includes asset management responsibilities and actuarial support.  PEN manages approximately US$38 billion invested across various asset classes, including fixed income, public equities, private equity, real assets, private credit, and absolute return strategies.  PEN identifies, selects, evaluates, and monitors investments globally, mainly through outside managers. PEN’s responsibilities also include the delivery of technical assistance on multi-asset class investment management to pension plans, endowments, and funds for the future and the management of the Pension Administration function.

Staff in PENIN are allocated to a particular team upon entry. In response to business priorities, they may be reassigned to other investment teams at the discretion of the Manager of Pension Investments (PENIN). At this stage, this position is intended for the Private Equities portfolio.

The responsibilities as a member of the Private Equities team will include, among others, portfolio construction, manager selection, assessing tactical allocations within developed markets, and monitoring the portfolio of existing managers.

The roles and responsibilities are outlined below:

Roles & Responsibilities:

The specific duties will be, but are not limited to, the following tasks as a member of the Private Equities team:

• Assist with managing and supervising an existing portfolio of diversified private equity (buyout, venture capital, growth capital, distressed) investments;
• Conduct due diligence and prepare documentation for new investments, including investment memos, performance analysis, team assessment, investment strategy, investment thesis, risks, expected returns, and portfolio fit;
• Review and assist in the preparation of performance reporting package on a monthly and quarterly basis (in conjunction with the middle office);
• Monitor and remain current on the portfolio of existing managers (via manager update reports, calls, and meetings);
• Maintain and strengthen the group’s networks and relationships with general partners and institutional investors in the industry;
• Monitor and research overall private equity markets as well as specific sub-sectors such as buyouts, venture, growth capital, and distressed strategies;
• Assist in reviewing investment proposals and selecting private equity fund managers;
• Assist in preparing presentations for the Pension Finance Committee; and
• Assist in additional projects as needed within PEN.

Selection Criteria

1. Advanced degree (Masters preferred), preferably in finance, business or economics.
2. Five years of relevant work experience in finance and investments, with at least two to three years of private equity fund investment-related experience or an appropriate combination of education and relevant experience.
3. Professional Certification such as a CAA (Chartered Asset Allocator), CFA (Chartered Financial Analyst), and/or CAIA (Chartered Alternative Investment Analyst) is a plus.
4. Proven quantitative and qualitative analytical and problem-solving skills.
5. Proficiency in Excel, Word, and Powerpoint is required. Familiarity with other quantitative analytical packages is desirable.
6. Creative thinker and quick learner with initiative, drive, and attention to detail.
7. Proven capacity to multi-task, deliver results, and respond quickly and effectively to requests. Ability to work under pressure.
8. Excellent verbal and written communication skills are required. Experience preparing and making presentations is desirable.
9. Good team player with strong interpersonal skills and commitment to work in a team-oriented, multi-cultural environment.
10. Highest ethical standards.

Competencies:

Lead and Innovate – Contributes new insights to understand situations and develops solutions to resolve complex problems. Adapts as circumstances require and manages the impact of own behavior on others in the context of WBG’s values and mission. Identifies and pursues innovative approaches to resolve issues.

Deliver Results for Clients – Adds value by constantly looking for a better way to get more impactful results; sets challenging stretch goals for oneself. Immerses oneself in client experiences and perspectives by asking probing questions to understand unmet needs. Demonstrates accountability for achieving results that have a developmental impact and financial, environmental, and social sustainability. Identifies and proposes solutions to mitigate and manage risks.

Collaborate Within Teams and Across Boundaries – Appropriately involves others in decision-making and communicates with key stakeholders. Approaches conflict as common problems to be solved. Actively seeks and considers diverse ideas and approaches, displaying a sense of mutuality and respect. Integrates WBG perspective into work.

Create, Apply, and Share Knowledge – Leverages the department’s expertise and knowledge across WBG to strengthen internal and/or external client solutions. Seek to learn from more experienced staff to deepen or strengthen their professional knowledge and help others learn. Builds personal and professional networks inside and outside the department unit.

Make Smart Decisions – Seeks diversity of information and inputs, researches possible solutions, and generates recommended options. Identifies and understands risks and proposes recommendations. Based on risk analysis, makes decisions on time within own area of responsibility, considering the interests and concerns of stakeholders.

World Bank Group Core Competencies

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. 

Note: The selected candidate will be offered a one-year appointment, renewable at the discretion of the World Bank Group, and subject to a lifetime maximum ET appointment of three years. If an ET appointment ends before a full year, it is considered as a full year toward the lifetime maximum. Former and current ET staff who have completed all or any portion of their third-year ET appointment are not eligible for future ET appointments.