Lead Underwriter Job #: req33509 Organization: MIGA Sector: Financial Sector Grade: GH Term Duration:ย 4 years 0 months Recruitment Type: International Recruitment Location: Washington, DC,United States Required Language(s): English Preferred Language(s): Closing Date: 6/30/2025 (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 or Agency) 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 on a livable planet. We do that through the provision of political risk insurance and public sector credit guarantees to investors and lenders against losses caused by noncommercial risks. For more information, visit www.miga.org.
In July 2024, the World Bank Group launched the WBG Guarantee Platform ( WB GP) a major upgrade to its guarantees business, that will deliver improved guarantee access through a unified team at MIGA as well as innovative new guarantee solutions. These new reforms will help position MIGA to achieve the goal of tripling annual guarantee issuance to $20 billion by 2030.To meet this goal and maximize its development mandate, MIGA must stay focused on supporting the needs of MIGAโs developing member countries, while complementing the activities of other public and private insurers.ย ย MIGAโs operational priorities focus on:ย investments in IDA countries; investments in conflict-afflicted environments; support for complex and innovative deals, especially those involving project financing (in particular infrastructure, extractive industries and climate change); and support for South-South investments.ย To further develop the Agencyโs business and foster innovation in the WB Guarantee Platform in these core areas and to meet the evolving needs of investors in developing and emerging markets, MIGAโs FIGย ( Financial Institutions Group )ย Operations Department (MIGOP) seeks a Lead Structured Products Specialist with extensive financial sector experience in Structured Finance and Capital Markets who will identify new business opportunities for MIGA and WBโs GP, achieve business targets and help grow MIGAโs guarantee business.ย ย This position will be based in Washington D.C. The selected candidate will report to MIGAโs Financial Institutions Group Manager based in Washington D.C.
Specific responsibilities include, but are not limited to:
โข Leveraging MIGA/WB/IFC public sector guarantee products within the WBG Guarantee Platform to develop structures that mobilize private sector financing through credit enhancement and/or capital relief in emerging markets;
โข Evaluating, structuring and negotiating guarantees with counterparties, in particular innovative capital market structures and products, special purpose structures, synthetic risk transfers, risk sharing facilities, debt funds;โข Developing structures of guarantees that could enable RWA/capital relief for banks;ย โข Collaborating with other units within MIGA, IFC, and the WBG to deliver high level business results, with a particular focus on innovation and financial sector solutions;โข Within MIGA, ensuring close collaboration on current initiatives with colleagues based in the regions and sectors, especially with MIGAโs innovation team;โข Liaising with MIGAโs and the WBG Guarantee Platformโs clients, particularly with global banks and institutional investors to explore new structures, understand regulatory constraints and bankability issues;โข Help in the development and implementation of internal requirements, which includes liaising with other departments within MIGA, associated with a growing business line of sophisticated financial instruments;โข Identifying new business opportunities for MIGA and WB GP using Blended Finance modalities at MIGAโs disposal, among other business development tools;ย โข Meeting with prospective clients to market MIGA's guarantee products as well as with MIGA partners to better understand the market for political risk insurance and public sector credit risk guarantee solutions in priority areas and to identify new market opportunities for MIGA and the WB GP;โข Supervising and mentoring staff and;โข Advising MIGA's Management Team on business development strategies as needed.
Selection Criteria
โข Masterโs degree in financial engineering, economics, or other related areas;โข Minimum 15 years of experience in top tier global financial institution and/or development finance institution (DFI);โข Strong experience in and in-depth understanding of industry trends and related regulatory frameworks.โข Solid track record of delivery of sophisticated structured finance transactions; such as special purpose structures, securitizations, credit derivatives and credit linked notes, synthetic risk transfers, risk sharing facilities, debt funds;โข Good network of financial institutions, investment banks and institutional investorsโข Exceptional negotiation, financial and credit skills; demonstrated ability to structure a variety of sophisticated financial structures;โข Excellent management skills with a proven track record of success in developing client relationships and execution of client engagements;โข Excellent business judgment and strong analytical and problem-solving skills to identify issues and present creative, practical solutions;โข Demonstrated experience leading teams and a proven track record in delivering high quality work results;โข Excellent team player, able to mentor and train more junior staff;โข High degree of discretion, ethics, tack, and sensitivity in handling confidential and sensitive information; ability to maintain high standard of personal integrity;โข Excellent oral and written presentation skills in English are required; an additional major language, such as Spanish or French, is desirable;โข Willingness to travel.
WBG Culture Attributes:
1. Sense of Urgency โ Anticipating and quickly reacting to the needs of internal and external stakeholders.
2. Thoughtful Risk Taking โ Taking informed and thoughtful risks and making courageous decisions to push boundaries for greater impact.
3. Empowerment and Accountability โ Engaging with others in an empowered and accountable manner for impactful 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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