Senior Financial Sector Specialist Job #: req32971 Organization: World Bank Sector: Financial Sector Grade: GG Term Duration:ย 4 years 0 months Recruitment Type: International Recruitment Location: Ulaanbaatar,Mongolia Required Language(s): English Preferred Language(s): Closing Date: 5/12/2025 (MM/DD/YYYY) at 11:59pm UTC
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ย Description
Do you want to build a career that is truly worthwhile? The World Bank Group (WBG) 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 and promoting shared prosperity. 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.ย https://www.worldbank.org.
East Asia and the Pacific (EAP) Regionย
The EAP region serves 22 client countries with a total population of about 2 billion. Clients range from large IBRD countries such as China, Indonesia, Vietnam and the Philippines; to smaller countries, some of them IDA, such as Cambodia, Laos, Mongolia, several Pacific Island states, Papua New Guinea and Timor-Leste. The EAP region presents a dramatic illustration of the global dynamics, opportunities and risks of the 21st century. EAP has made spectacular progress towards achieving the WBGโs twin goals, eliminating extreme poverty and boosting shared prosperity on a livable planet โ extreme poverty declined faster than any other region and the income of the bottom 40 percent increased substantially. Such a rapid transformation has made EAP one of the most dynamic regions in the world. However, it also faces significant challenges such as managing the largest rural-to-urban population shift in human history, coping with rising inequality, addressing large infrastructure gaps, dealing with climate change, and building human capital. Growth has been uneven across and within countries, institutions still need strengthening, and most countries are heavily affected by climate change. The Bank plays a significant role on global public goods, including climate, biodiversity, water pollution, and health. The overlapping crises and economic shocks are compounding the impact of the global economic slowdown. The World Bank Group is seen as a premier development institution in the Region, with a leadership role on analytical and advisory services as well as financing.ย
East Asia and the Pacific Region:ย https://www.worldbank.org/en/region/ea
Finance, Competitiveness, and Investment Global Department (FCI GD)
The FCI GD is part of the Prosperity Vertical in the World Bank. FCI 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. 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 visitย https://www.worldbank.org/en/about/unit/fci
The FCI EAP1 team supports its client countries in the region through designing and implementing innovative lending operations. It also provides cutting-edge advisory services and high-quality analytical work designed to support policymakers in a range of issues related to financial sector development, strengthening private sector competitiveness, and supporting innovation.ย
The Senior Financial Sector Specialist, based in Ulaan Baatar, will report to the FCI EAP1 Practice Manager and will be expected to lead the FCI program in Mongolia, with a versatile skillset and expertise to cover integrative solutions across the FCI core lines of business. FCIโs program in Mongolia covers analytical and advisory engagements aimed at enhancing the stability, efficiency, and developmental impact of Mongoliaโs financial sector and promoting sustainable development of the private sector.
Duties and responsibilities
1. Lead/co-lead strategic and technical engagements on various financial and private sector development issues with the authorities and stakeholders at various levels in Mongolia. Work in close coordination with FCI regional EAP1 team, FCI global teams, other global departments within Prosperity and other verticals, and the CMU on lending projects, advisory services and analytics (ASAs) programs, and Just-in-Time (JIT) TA with Mongolian counterparts to meet country needs in line with client and FCI priorities.ย 2. Support counterparts and lead/co-lead engagement on relevant issues primarily focusing on banking and capital markets development, housing finance, green finance, mobilizing private capital, and strengthening public finance institutions. Collaborate closely with other global departments to design and implement scalable projects where appropriate.3. Evaluate financial and private sector policies, strategies, and institutions with a view to formulating reform recommendations for country authorities.4. Lead business development and the preparation of lending operations in the FCI program area with the aim of facilitating sectoral reforms and provision of cross-sector and One WBG solutions.5. Work closely with the Prosperity Program Leader, other global departments, Country Management Unit (CMU), IFC and MIGA to ensure the integration of relevant financial and private sector development issues in country strategies, SCDs/CPFs, core knowledge pieces, work programs, and country policy dialogue and engagement.6. Deliver high-quality analytical and advisory work on a range of operational, country, and sector issues, providing expert interpretation of information/data, identifying key pertinent issues, and recommending targeted actions/solutions with a focus on financial sector development. Contribute to the dissemination of FCI activities, within the WBG and in external events.ย 7. Support the Prosperity team in the preparation of briefing material on country program/sector and project issues, with emphasis on the financial and private sector. Produce technical notes and inputs, briefings, presentations, etc. as requested by CMU and FCI management.8. Provide ad-hoc cross-support in selected countries in the EAP region if required.
Selection Criteria
This position requires a senior financial sector specialist with strong technical and team leadership skills, and with a demonstrated capacity to deliver a solid work program to demanding clients. The position demands a high level of dedication, intellectual rigor, and the ability to work under pressure to meet deadlines and achieve objectives. It requires a combination of strategic thinking, deep understanding of both domestic and global financial systems, and the ability to clearly communicate complex financial concepts in simple terms. Selected candidates will have demonstrated an ability to understand economic policies and their impact on the financial sector, coordinate teams and complex assignments, flexibility to respond to changing financial environments and emerging trends, capacity to innovate and propose creative solutions for financial sector development, mentor team members effectively, deliver results on the ground, and lead technical policy dialogue, while coordinating with IFC and MIGA and external development partners and building strong partnerships with the client. The following qualifications will be considered:
โข Masterโs degree in relevant discipline (finance, economics, business administration).ย โข At least 8 years of relevant professional experience in the financial sector, including positions in policy development, regulatory oversight and research with meaningful exposure to development finance and fostering economic development, shaping policies and guiding financial reforms on a national and international scale in multilateral/national development banks or central banks.โข Demonstrated solid understanding of policies, strategies, and reform agendas needed to strengthen financial sector stability and development impact, particularly in the context of sophisticated IBRD countries. Solid understanding of key aspects of private sector development agenda.ย โข Recognized technical depth and experience in at least one of FCIโs topics, with strong preference for areas related to financial intermediaries, capital markets, state-owned banks, green and housing finance.โข Excellent leadership, interpersonal and communication skills and proven track record of effective communication, including handling difficult issues, and building strong partnerships with clients and colleagues across units and departmental boundaries in a multi-cultural environment with virtual teams located in different countries.โข Proven project management ability, including hands-on experience in conceptualizing, designing, and implementing projects.โข Knowledge of World Bank lending and analytical instruments and FCI value propositions.ย โข Strong client orientation - demonstrated ability to communicate with senior authorities on complex policy issues and capacity to interact effectively with a range of stakeholders within and outside the Bank.ย โข Integrative capacity, including the ability to situate sectoral issues within a broader economic development framework.โข Creativity and drive to build platforms for regular dialogue as well as the ability to create and expand a network of relevant actors.โข Demonstrated active listening skills and the ability to influence the audience (such as counterparts in government, international partner organizations, academia, and Bank colleagues, senior staff and managers).โข Excellent oral and written communication skills, including an ability to communicate complex issues in simple terms and to engage in evidence-based dialogue with clients.โข Demonstrated records in teamwork and inclusion to support collaboration and working across boundaries, and ensuring diverse talent and capability is mobilized across sectors.โข Ability to work independently, taking initiative, and flexibility in quickly adjusting to changing work program requirements.โข Proven track record to mentor junior staff and incentivize teams, encourage confidence in senior country officials, and work in a culturally diverse environment.โข Fluency and efficiency in English language, both verbal and written English.
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.
Note: If the selected candidate is a current World Bank Group Staff Member with a Regular or Open-Ended appointment, they will retain their Regular or Open-Ended appointment. If the selected candidate is a current World Bank Group Staff Member with a Term appointment that expires later than the end date of this appointment, they will retain the duration of their current Term appointment.
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, World Bank Group Core Competencies, and inspiring stories.
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 theย World Bankย andย IFC, including our values and inspiring stories.