Lead Economist

Lead Economist

Job #:

req21726

Organization:

World Bank

Sector:

Economics

Grade:

GH

Term Duration:

4 years 0 months

Recruitment Type:

International Recruitment

Location:

Washington, DC,United States

Required Language(s):

Preferred Language(s):

Closing Date:

3/27/2023 (MM/DD/YYYY) at 11:59pm UTC

Description

Working at the World Bank Group provides a unique opportunity foryou to help our clients solve their greatest development challenges. The WorldBank Group is one of the largest sources of funding and knowledge fordeveloping countries; a unique global partnership of five institutionsdedicated to ending extreme poverty, increasing shared prosperity and promotingsustainable development. With 189 member countries and more than 120 officesworldwide, we work with public and private sector partners, investing ingroundbreaking projects and using data, research, and technology to developsolutions to the most urgent global challenges. For more information, visit www.worldbank.org

The Development FinanceVice-Presidency (DFi) is responsible for the management and monitoring ofpolicies, procedures, and resources for the World Bank's development financingvehicles. DFi sets the policy framework for the World Bank Group's developmentfinance by engaging in strategic resource mobilization, playing anintermediation role to help align the needs of recipients, WBG institutionalpriorities, and priorities of funding partners, through a variety of fundinginstruments. These include the International Development Association (IDA), theWorld Bank's fund for the poorest, the International Bank for Reconstructionand Development (IBRD), and Trust Funds, including Financial Intermediary Funds(FIFs).

Within DFI, Corporate IDAand IBRD (DFCII) is responsible for the replenishment and stewardship of IDA,the Bank's principal facility for providing highly concessional resources tothe world's poorest countries, as well as for supporting senior managers andthe WBG Board in IBRD's financial management by recommending policies andstrategies related to IBRD medium-term financial and capital planning, overallbalance sheet management, and annual decisions on loan terms and incomeallocation. The unit has recently shepherded the IDA20 replenishment process toa successful conclusion to support countries' post pandemic economic recoveryas well as investments for a greener, resilient, and inclusive development. Setagainst increased debt risks in IDA countries, IDA19 strengthened the IDAtoolkit to address debt vulnerabilities through the endorsement of theSustainable Development Finance Policy (SDFP). DFCII monitors the implementationof the IDA policy mandates within the Bank, undertakes a significant policyresearch agenda, and participates in review activities at the country andinstitutional levels. In addition, DFCII manages the allocation of IDAresources (both volumes and terms) to eligible countries as per IDA prioritiesand maintains policy dialogue with donors. Working closely with OPCS, Regionsand the Practice Groups, it takes the lead in preparing IDA replenishmentpapers which form the basis for policy discussions with IDA's contributingcountries and borrower representatives.

DFCII consists of twounits, the IBRD-IDA Corporate Finance unit and the IDA Strategy and Operations unit. TheIDA Strategy and Operations unit is responsible for the operational aspects ofIDA, including development of policies for the allocation of IDA resources;development and implementation of IDA's operational policies; allocation of IDAresources; the SDFP Secretariat; and the Private Sector Window Secretariat. Theunit is also in charge of developing and undertaking a research program onIDA's long-term strategic agenda, including to catalyze IDA resources towardsdelivering on the WBG goals and the 2030 development agenda. The Strategy andOperations Unit is made up of a diverse, experienced, and motivated team ofeconomists, finance and development specialists. In support of these areas ofresponsibility, the unit is required to establish and maintain robustanalytical infrastructure in the form of models, data, systems and expertise toensure robust support to IDA replenishment and income and balance sheetprojections and scenarios to support institutional policy-formulation and theBoard's decision-making process. In addition, the department works on theoutreach and communication necessary to gather political consensus aroundstrategic and policy decisions.

Role and Responsibilities

DFCII is seeking to recruit a LeadEconomist to serve as an integral member of the team, working closely with theManager and the Department Director to provide strategic and technical adviceon debt and broader macroeconomic issues to the IDA Strategy and OperationsTeam. The demands of this job will be complex and will require superiormacroeconomic policy, debt and fiscal sustainability technical skills, acapacity to operate successfully across GPs and with other developmentpartners, and first-rate interpersonal skills. S/he will be expected to work asa team member in a fast-paced and demanding environment, sharing responsibilitieswith and backing up other colleagues as needed.

Specifically,the selected candidate will have the following responsibilities:

• Lead IDA's work in areas of debt, macroeconomic, and poverty issues, including more in-depth participation in dialog in countries with significant debt vulnerabilities (e.g., repeated breaches of the NCB ceiling, countries that have applied to the Common Framework, countries with complex IMF programs, countries with complex issues as with guarantees, blended finance, integrated financing packages, etc.)

• Lead the implementation of IDA's Sustainable Development Finance Policy, including: (i) review of SDFP guidelines; (ii) development of SDFP guidance notes and FAQs; (iii) conducting SDFP learning and outreach and coordination to key counterparts including multilateral development banks, International Monetary Fund, International Financial institutions, and other bilateral creditors and OECD and Paris Club; (iv) review and provide comments to Country Team's proposed performance and policy actions for SDFP committee recommendation; (v) monitor PPA preparation and implementation. Support country teams with (i) technical guidance and (ii) collaborative solutions with SDFP Technical teams, on PPAs/IANs.

• Supervise the SDFP Secretariat's activities such as: (i) managing PPA review processes; (ii) reviewing and coordinating comments to the PPA notes and the IANs; and (iii) preparation of annual PPA reports for the Board.

• Lead the Program for Creditor Outreach - to continue delivering through high level events at the global, regional and country level. Build on WB's convenor role for advocacy on the SDFP with the MDBs and IFIs. Continue building on the entry points with export credit agencies, non-traditional bilateral and private sector creditors.

• Lead analysis of options on IDA reforms, including mechanisms to increase IDA's ability to mobilize resources for poverty alleviation, GPGs, SDGs, vulnerability, resilience and to crowd in the private sector.

• Lead strategic papers for the IDA20 MTR and IDA21 replenishment, providing significant guidance to the team on diverse topics for the IDA replenishments, including leading key papers and steering the research agenda. These may include results, aid architecture and aid effectiveness, jobs and economic transformation, fragile states, gender, climate change, governance, lessons from SDFP, and leveraging private sector partnerships.

• Supervise analysis of graduation and classification discussions (graduation, reverse graduation, small islands exception, etc.)

• Foster synergies and partnerships with other units in DFI, Finance Partners, MDCFO and MDO and relevant GPs (e.g. MTI Global Unit and DEC Data Group) on cross-cutting work streams including in the debt, poverty, and macroeconomic issues. Particular attention to strengthening collaboration with the IMF.

• Undertake dialogue with senior management and senior shareholders' representatives.

• Provide quality control on unit outputs as needed, including briefing notes and communications for the DFIVP and MDO and presentations for the Director and DFIVP.

• Provide guidance and mentoring for more junior staff in unit.

• Act as co-supervisor, together with the S&O manager, for the group of MTI mapped economists in the S&O unit, including objective setting, performance evaluation, mentoring and supervision, final clearance of most regular outputs by the team, etc.

• Undertake other ad hoc tasks as assigned by the Manager of the DFCII Strategy and Operations Unit to meet DFi's business needs.

Selection Criteria

In addition to the Bank-wide criteria listed below, the successfulcandidate for his position should have demonstrated superior technical skills,a capacity to operate successfully across GPs, VPUs and with other developmentpartners, and first-rate interpersonal skills. The incumbent must be able tointeract effectively with senior management, senior officials of contributinggovernments, and with senior members of client countries and externalpartners.

Specific selection criteria include:

• Advanced degree in Economics or an equivalent relevant discipline (Masters or PhD), and at least 12 years of relevant professional experience.

• Proven sense of initiative, results orientation, and leadership qualities, as well as effective teamwork skills.

• Operational experience in preparation, supervision, and completion of reporting of DPOs and IPFs, and economic and sector work in IDA countries. Demonstrated leadership of some key tasks is preferred.

• Demonstrated understanding of IDA's role in the international aid architecture.

• Strong theoretical knowledge, practical skills, and recent relevant experience necessary to understand debt sustainability analyses (DSA) in low income countries (LICs), which informs IDA's Sustainable Development Finance Policy (SDFP) and various aspects of country allocations during a replenishment cycle.

• Strong integration and writing skills, capable of pulling together inputs from various sources to address complex issues under pressure in a timely manner.

• Demonstrated interpersonal, oral communications, diplomatic and negotiation skills to work effectively with key internal and external stakeholders.

• Excellent workflow management and task organization skills; ability to take responsibility for all aspects of coordination of the workflow and quality control of assigned responsibilities.

• Strong analytical skills in macroeconomic and fiscal management and proven ability to conduct policy-relevant research.

• Integrative capacity including the ability to situate sectoral issues within a broader development framework, and to situate IDA activities within a coherent strategic framework.

• Ability to work flexibly on a range of assignments and adjust to a variety of complex evolving tasks to meet deadlines.

• Ability to create, apply, and share knowledge from across and outside WBG to strengthen internal and/or external client solutions.

• Broad and in-depth experience working with senior management and senior shareholders' representatives.

• Strong, persuasive, and clear communication skills, both orally and in writing.

• Demonstrated management skills (in a supervisory or managerial role)

Fullset of MTI Competencies

Full setof World Bank Group Core Competencies

DFIVision Statement for Diversity, Equity, and Inclusion (DEI):

"Ourvision is to be a diverse, equitable and inclusive team, where all staff arerespected and supported, in effectively serving DFI clients in pursuit of WBGgoals."

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.