Manager - Operations Strategy and Upstream

Manager - Operations Strategy and Upstream

Job #:

req22202

Organization:

MIGA

Sector:

Operations

Grade:

GH

Term Duration:

4 years 0 months

Recruitment Type:

International Recruitment

Location:

Washington, DC,United States

Required Language(s):

English

Preferred Language(s):

French, Portuguese, Spanish

Closing Date:

4/25/2023 (MM/DD/YYYY) at 11:59pm UTC

Description

Do you want to build a career that is truly worthwhile? The Multilateral Investment Guarantee Agency (MIGA) 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. We do that through the provision of political risk insurance and credit enhancement to investors and lenders against losses caused by non-commercial risks. For more information, visit www.miga.org.

Building on the success of the past decades, MIGA is set to enter a new period of growth and transformation. In face of the complex and overlapping shocks facing countries around the world, MIGA is strengthening the use of financial guarantees and credit enhancement instruments to de-risk the development process and scale-up access to equity and long-term, institutional finance. The traditional project finance system is being leveraged to support country-level development transitions. At the same time, MIGA's global mandate enables a focus on addressing the financing of global public goods through its country programs.

To successfully achieve these objectives, MIGA will have to reposition its country engagements, strengthen the organizational footprint, invest in sector teams and their work, innovate constantly, and expand partnerships with MDBs and private financial institutions. Importantly, there is a need to understand and comprehensively assess how the nature of non-commercial risk is changing and respond to these changes with new approaches and instruments to leveraging financial markets. All of this while recognizing that the nature of project finance is changing and is overlapping with the need to focus on sectoral and country finances and the linkage between private institutional finance and country finance. There will be a growth in MIGA's engagement at the country level - including sovereign and sub-sovereign levels and with state-owned enterprises (SOEs) - as a complement to the partnerships created with private sector investors, institutional investors, and financial institutions. Such a focus will also require deepening MIGA's relationship with IBRD/IDA and IFC and, in the process, redefining the role of MIGA within the World Bank Group.

MIGA is looking for a seasoned Manager, [Operations Strategy and Upstream] ("the Manager") who ideally combines deep experience in thematic strategy formulation and execution in the areas of municipal and infrastructure finance, state owned enterprises, and climate policy. Core to the Manager's experience is a high level of operational understanding of public finance, service delivery and regulatory arrangements at the sovereign and sub-sovereign level and linkage with project and institutional finance. As part of the Operations Front Office Team, working under the direct oversight of the Vice President of Operations, and in collaboration with the Operations Directors (2), Sector and Regional Operations Leadership Team members ("MIGOP-LT"), the Manager will be responsible for helping shape the strategic vision, and upstream coherence and direction towards achievement of the Agency's "FY24-26 Mid-term Strategic focus on IDA, FCS, and Climate."

Duties and Accountabilities

The selected person is expected to work in close collaboration with the World Bank Regional / Global Practice Managers and Country Offices, IFC Upstream and Advisory Managers, MIGA's Regional and Sector Team Leadership, and key country-level national / sub-national government counterparts to develop and implement forward looking thematic strategies and solutions that address the key development challenges and needs of client countries.

S/he will provide management and thought leadership on ways to accelerate the scale and speed of programmatic solutions development and country-specific engagement strategies in close collaboration with the counterpart guarantee operations unit ("MIGOP"). At the operational level, the Manager will be responsible for (i) building critical upstream engagement capabilities across regions, countries, and sectors; (ii) strengthening the links between Government policy reforms / priorities and MIGA pipeline development; (iii) ensuring consistency of guarantee pipeline development and quality with the Agency's strategic priorities and programmatic ambitions; (iv) supporting the sectoral and regional team product development and innovation efforts; and (v) representing the Agency in key WBG thematic and country strategy discussions (CPF, climate, gender, jobs, energy transition, etc.).

• Operations Strategy
  • In close coordination with the Operations VP and Operations Directors, provide input into the development of the Agency's (3-year cycle) Mid-Term Strategy (MTS), with a view to embedding the MTS within the evolving global context and mindful to emerging issues at the global themes and country / regional priorities level.
  • Develop, implement, and monitor, in coordination with the Operations Directors and Regional Staff, strategies to deploy programmatic solutions that align with the Agency's strategic priorities and broader WBG development themes.
  • Identify cross-cutting issues and trends to better inform, calibrate, and keep relevant the Agency's Operational and Mid-term Strategies, allowing seamless coordination with the Agency's risk and development impact priorities.
  • Identify, manage, and monitor key global, regional, and country-level thematic strategy engagements as delegated by the Operations VP/Directors.
  • Develop, implement, and oversee a Donor Finance strategy which rationalizes the Agency's approach to donor funded capacity building / blended finance support.
  • In coordination with the Agency's Partnerships VPU, lead all aspects of the dialogue with Donors on operational blended finance / capacity building needs and priorities.
  • Coordinate closely with major development partners on country-specific operations strategy and policy matters as required.
  • Lead and participate in corporate and regional working groups and task forces as delegated by the Operations VP/Directors.
  • Work closely with the Operations Directors to ensure the alignment of the Guarantee Operations new business origination / client / pipeline /product development work program with the key strategic and cross-cutting issues and corporate priorities.
• Upstream
  • In close coordination with Regional Heads, support all aspects of MIGA Operations' engagement with the country level and HQ upstream and advisory teams of the World Bank and IFC to identify opportunities for MIGA upstream engagement and programmatic solutions deployment.
  • Identify opportunities to leverage MIGA products and expand development outcomes by understanding the country context, risk, and political economy.
  • Develop, implement, and closely monitor processes, procedures, and related tools to maximize opportunities for greater MIGA engagement in country level Upstream activities.
  • Lead the communications around the objectives and priorities of the MIGA Upstream engagement strategy, to ensure the Upstream vision is understood externally in a way that generates buy-in and business opportunities among key stakeholders, including shareholders, clients, and donor partners.
  • Provide continued advocacy round MIGA / Foreign Direct Investor risk concerns in the Upstream country level policy and reform dialogues of WBG/other development partners.
  • Enhance the Agency's ability to translate identified policy reforms/actions/directions into Upstream interventions that lead to increased programmatic / unique pipeline development opportunities.
  • Develop guidance notes and strategies to better target and inform new business / client development efforts of sector and regional guarantee operations staff.
• People and Talent Management
  • Provide thought leadership and direction to the team to ensure attainment of the unit's goals and objectives.
  • Take accountability for recruitment, coaching, performance evaluations and career development of staff.
  • Promote a culture of effective teamwork and collaborative synergy.
  • Model integrity, equity and inclusion.
• Resource Management
  • Ensure sound formulation of the unit's budget and effectively manage the unit's financial resources.
• Relationship Management
  • Do outreach to key stakeholders and partners to build and/or strengthen relationships within and outside the World Bank Group
• Knowledge Management
  • Oversee the knowledge curation relevant to the unit and ensure the implementation of knowledge sharing across team members.

Selection Criteria

• A minimum of a Master's degree (e.g., in Finance, Economics, Business, etc.) and at least 12 years (15 preferred) of relevant experience or an equivalent combination of education and experience.
• Track record of team leadership, creating an enabling work environment, coaching/mentoring, delivering high quality work within deadlines and budget.
• Demonstrated capacity to innovate and challenge the status quo and proven track record of new idea generation and business development.
• High level experience of strategy development as well as a knowledge and understanding of how to frame corporate priorities.
• Strategic mindset and proactive, and demonstrated ability to link policy reforms, advisory interventions, investment, and mobilization to deliver solutions at a national / sub-national country level.
• Specific work experience in middle income countries and in fragile and conflict contexts a plus.
• Full understanding of MIGA products and guarantees, including both risk and development context as well as the market space within which the Agency operates.
• Solid understanding of development finance and development finance institutions. Work experience in a multilateral financial institution focused on infrastructure finance, capital markets, and service delivery a plus.
• Outstanding collaboration and influencing skills as demonstrated by proven ability to affect change internally and externally at multiple levels, with and without formal authority; track record of building and maintaining constructive relationships across organizational units.
• Track record of engaging with private sector clients, governments, and other stakeholders to encourage pioneering reforms / policy changes.
• Knowledge of emerging markets finance and economic development and an understanding of issues related to investment insurance and foreign direct investment in emerging markets.
• Demonstrated high-level understanding of public/sub-national finance and public sector capital budgeting. In this context, work experience at a leadership and operational level in national and subnational treasuries and finance departments, preferably in an emerging economy, would be a plus
• Effective interpersonal skills and ability to interact effectively with clients and colleagues from various cultural backgrounds under time pressure.
• Demonstrated proficiency in all aspects of the core GH and World Bank Group Managerial Competencies required: (i) courage of convictions; (ii) leading for impact; (iii) influencing across boundaries; (iv) fostering openness to new ideas; and (v) building talent for the future.
• Excellent written and oral communication skills and a proven ability to gain credibility, support, and engagement of a complex group of internal and external stakeholders.
• Fluency in spoken and written English required, and fluency in French, Spanish and/or Portuguese considered a plus.

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.

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