Financial Sector Specialist Job #: req34486 Organization: World Bank Sector: Financial Sector Grade: GF Term Duration:ย 3 years 0 months Recruitment Type: Local Recruitment Location: Addis Ababa,Ethiopia Required Language(s): English Preferred Language(s): Closing Date: 10/21/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
Do you want to build a career that is truly worthwhile? Working at the World Bank provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank consists of two entities โ the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). It is a global development cooperative owned by 189 member countries. As the largest development bank in the world, the World Bank provides loans, guarantees, risk management products, and advisory services to middle-income and creditworthy low-income countries, and coordinates responses to regional and global challenges. For more information, please visit www.worldbank.org.
The Finance, Competitiveness and Investment (FCI) Global Practice combines expertise in the financial sector with expertise in private sector development to foster private sector led growth and help create markets in client countries.ย FCIโs core lines of business are: (a) Financial Stability & Integrity; (b) Financial Inclusion, Infrastructure & Access; (c) Firm Capabilities & Innovation; (d) Long-Term Finance; (e) Climate & Risk Management; (f) Markets and Technology; and (g) Investment and Competition. For more information, please visit https://www.worldbank.org/en/about/unit/fci
Eastern and Southern Africa: Home to about half a billion of Africaโs people, Eastern and Southern Africa is a geographically, culturally and economically diverse region of 26 countries stretching from the Red Sea in the North to the Cape of Good Hope in the South. Children under 18 make up almost half of the total population. The subregion boasts of some of the worldโs richest human and natural resources and, apart from South Africa, the countries are predominantly raw material exporters.
The World Bankโs Eastern and Southern Africa Region, comprised of approximately 1,300 staff, mostly based in 26 country offices, has been helping countries realize their considerable development potential by focusing on the following priorities: Creating Jobs and Transforming Economies, Building the Digital Economy, Institutions more Efficient and Accountable, Investing in People, Supporting Climate Change Mitigation and Adaption, addressing the Drivers of Fragility, Conflict, and Violence, Building Partnerships and Working across the African Continent. The World Bank is a dedicated partner for Eastern and Southern African countries, helping them deliver strong development outcomes for their people.
This position is based in Addis Ababa with a primary focus on Ethiopia. This position offers an opportunity to be an integral part of the Bankโs important engagement in Ethiopia and represent FCI in a key role in this engagement with significant professional exposure in an important IDA country.
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Country Context:
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The Ethiopian government has embarked on significant economic and financial reforms to tackle long-standing structural issues, including debt, inflation, unemployment, and low productivity. The Home-Grown Economic Reform Program (HGER), launched in 2019 has successfully addressed these challenges, resulting in significant economic growth, with an average GDP growth rate of 7.1% from 2019 to 2023. The recently approved second phase of the Homegrown Economic Reform Program (HGER 20) focuses on four main pillars: establishing a robust macroeconomic framework, enhancing investment and trade competitiveness, increasing productive capacity, and improving public sector efficiency. The overarching aim is to foster private sector-led growth and job creation while achieving high economic growth and maintaining low inflation.
The reform measures in Ethiopia are designed to address foreign exchange distortions, strengthen the financial sector, control inflation, and improve tax revenue, government investment efficiency, and debt sustainability. These efforts aim to create a modern, competitive economic system while enhancing the business environment. Significant development cooperation and negotiations have been undertaken to implement the Home-Grown Economic Reform program, aligning with national interests and improving citizens' livelihoods. Supported by the International Monetary Fund and the World Bank, the program focuses on correcting foreign exchange issues, modernizing monetary policy, increasing domestic income, and fostering a stable and inclusive financial sector. The initiative also emphasizes climate change adaptation and food sovereignty. By strengthening local institutions and engaging stakeholders, the reform program seeks to leverage new development finance opportunities and bolster private sector development, with the objective of delivering substantial economic benefits.
FCI has a deep and robust engagement in Ethiopia, covering both private and financial sector development aspects. The Bank has recently approved a large IPF operation in the amount of $700 million that anchors the financial sector dialogue and is designed to support the modernization and development of the Banking sector in Ethiopia. Moreover, the Bank has been providing technical assistance on a wide variety of areas ranging from financial stability, financial inclusion and the depth and diversification of the financial sector. The work program covers inter alia the following areas: risk-based supervision, Basle II/III implementation, deposit insurance, bank resolution, SME access to finance, payment and credit infrastructure, capital markets development, insurance supervision and market development FCIโs engagement in Ethiopia is cross cutting and there is strong collaboration across PGโs, including with Economic Policy, Agriculture, Environment, SPJ, Transport and Poverty GPs.
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This is a local recruitment for a Financial Sector Specialist in Addis Ababa to be part of the Ethiopia FCI program and focus on supporting the financial sector lending and ASA program in the East Africa unit (EAEF1). The Financial Sector Specialist reports to the Regional Practice Manager (EAEF1) for Finance, Competitiveness and Investment and the chosen candidate will be expected to work independently and support lending, Analytical and Advisory Services (ASAs) and other technical assistance activities.
ย Job Duties and Responsibilities:
Selection Criteria
This position requires a Financial Sector Specialist with broad experience on financial stability, financial inclusion and financial sector deepening and a sound understanding of the Ethiopian context. The position also requires excellent client relationship experience. He/she will also have demonstrated experience delivering results on the ground with prior work experience with international organizations or donors.ย The following qualifications are required:
WBG Culture Attributes:
1. Sense of urgency: Anticipate and quickly respond to the needs of internal and external stakeholders.
2. Thoughtful risk-taking: Challenge the status quo and push boundaries to achieve greater impact.
3. Empowerment and accountability: Empower yourself and others to act and hold each other accountable for results.
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.
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