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. For more information, visit www.worldbank.org
The World Bank Treasury
Are you inspired by a global mission to end poverty? Do you want to build a career in finance with a global impact? The World Bank Treasury is one of the few places where you can be on the leading edge of finance as it sits at the only nexus of finance, innovation, and international development. We manage the institution's finances to enable all World Bank operations and lending. Each year, we issue over $50 billion in bonds, prudently manage over $180 billion in assets, and process over $7 trillion in transactions.
Departments & Teams
Treasury has three departments and a compliance and controls team. Learn more about our organization: https://treasury.worldbank.org/en/about/unit/treasury/about/what-we-do.
With us, you won’t just work in financial markets: you’ll help create new ones.
The World Bank Treasury launched a global recruitment campaign to attract the best and brightest talent in the world. We encourage you to learn more about Treasury, organization, people and careers at https://treasury.worldbank.org/careers.
Poverty has no borders, and neither does excellence.
With employees based in Washington, Chennai, Paris, Singapore, Sofia, and Tokyo, the World Bank Treasury represents over 50 nationalities, and our leadership team hails from all regions of the world. We are proud to be an equal opportunity and inclusive employer. We have a dedicated and committed workforce and do not discriminate based on gender, race, ethnicity, religion, disability, sexual orientation, or gender identity. Learn more about Treasury’s greatest strength: its diverse and dedicated staff.
Treasury Asset and Liability Operations (TREAL) is the unit responsible for delivering on a range of middle office functions supporting the funding, investment, and ALM portfolios for internal World Bank Group (IBRD, IDA, MIGA, and Trust Funds) entities. In addition, the team supports the investment portfolios for a growing roster of around 60 client entities in domestic and international markets.
The team provides integrated and end-to-end support for all trade execution and portfolio servicing activities covering the full life cycle of products such as bonds, swaps, repos, deposits, and exchange-traded derivatives. In performing these functions, the team works closely with internal partners and market counterparts as well as external service providers such as technology vendors, custodians, futures commission merchants, clearing systems, and paying agents.
In addition to performing these day-to-day functions, TREAL staff:
* Lead the implementation of new products, markets, and business-related technology solutions. Within the scope of products listed above, TREAL staff work on a wide-range of instruments such as catastrophe bonds, impact bonds, green bonds, and mortgage-backed securities. Given our global presence, staff work on developed markets (such as US, Europe, Japan) and more than 20 different emerging markets (such as India, China, Korea, and Brazil).
* Collaborate with partners across TRE to participate in capacity building for clients in their areas of expertise. TREAL staff lead on-site and remote missions to provide technical assistance to clients on all aspects of products, functions, and markets described above. Given their expertise, staff also provide training to clients on matters related to the selection and management of agents, custodians, clearing agents, and technology vendors.
* Lead efforts to research, develop, test, and pilot the use of emerging technologies such as distributed ledger (DLT) and forms of money such as Central Bank Digital Currency (CBDC). Among initiatives led by the team was bond-i, the first bond to be created, allocated, transferred, and managed through its life cycle using DLT.
TREAL staff members are currently located in the Bank’s Washington DC headquarters and Shared Service Centers in Chennai, India, and Sofia, Bulgaria.
Duties and Accountabilities:
As described above, TREAL staff cover the full gamut of products and markets. Candidates will be selected depending on their background, skill, interest, and fit across any of the three sub-teams that support our funding, investment (internal), or asset management (client) portfolios. The candidate(s) will be responsible for, but not limited to, the following:
* Perform (and provide guidance to junior staff) to complete various facets of post-execution activities for fixed income (fixed and floating rate bonds, MBS, ABS), derivatives (futures, options, swaps), and cash products (repo, Money-market, FX);
* Work closely, and manage relationships with, with traders and colleagues in Accounting, Banking, Credit, Development Finance, Legal, Technology, and Valuation units internally, as well as with external parties such as Counterparts,
* Custodians, Futures Commission Merchants and system vendors;
* Oversee and ensure trade confirmation, settlements, fails management, cash and tax;
* Lead support for client investment mandates and new products and portfolios by coordinating implementation efforts across various internal and external parties, daily operations and addressing ad-hoc queries from clients.
* Take the lead in developing, implementing, and ensuring compliance with, and changes to TREAL procedures, processes, and standards;
* Collaborate across teams and lead technology implementations and enhancements;
* Develop training and skill enhancement initiatives (e.g., through presentations, seminars and workshops) to transfer global knowledge and experience for various client advisory projects.
The position(s) is based in Singapore. However, candidate(s) may be required to work, at times, during Sofia, Chennai, and/or London hours depending on business needs.
1. Master's degree with 5 years of experience or equivalent combination of education and experience. Professional certifications such as a CFA will be a plus.
2. More than 5 years of related treasury experiences preferably in securities and derivatives operations, including settlement, documentation, and policy management areas. Knowledge of SWIFT messaging, cashflow calculations, and alternative reference rates (SOFR, SONIA and €STR) are a plus.
3. Ability to understand or good working knowledge of MSFTAs, GMRAs, the 2000 ISDA Master Agreement and Credit Support Annex, 2021 ISDA definitions, and confirmations documented under such agreements is preferable, but not mandatory.
4. Strong quantitative and qualitative analytical skills, including Excel spreadsheet skills. Familiarity with coding languages such as Python and writing power queries and macros is highly desirable.
5. Experience working with multiple depositories, custodian banks and clearing brokers is a plus.
6. Command over business-related IT development or IT technology projects, also with user acceptance testing and its related documentation. Previous exposure to Fintech related knowledge is a plus.
7. Proven capacity to multi-task, deliver results and respond quickly and effectively to requests. Ability to handle multiple concurrent transactions on a tight timetable, consistent with a high level of client expectations
8. Knowledge of Summit, Murex, MarkitWire, Pega, SWIFT, Bloomberg and Reuters, as well as strength in MS Access, Excel and PowerPoint would be helpful.
9. Original thinking / quick learning abilities with strong initiative and drive, as well as attention to details.
10. Good team player with strong interpersonal skills, and Commitment to work in a respectful, team-oriented and multi-cultural environment.
11. Excellent interpersonal and people management skills, with the ability to interact tactfully with clients and/or business associates across all levels, while exercising sound judgement in handling confidential information.
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.