Operations OfficerJob #: req3985
Sector: Financial Sector
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
Location: Jakarta, Indonesia
Required Language(s): English
Preferred Language(s): Bahasa
Closing Date: 9/3/2019 (MM/DD/YYYY) at 11:59pm UTC
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
GLOBAL PRACTICES & CROSS-CUTTING SOLUTIONS AREAS
The WBG vision is two-fold: (1) to eradicate extreme poverty by reducing the number of people living on less than $1.90 a day to 3 percent by 2030, and (2) promote shared prosperity by fostering the income growth of the bottom 40 percent in every country.
To achieve this vision, the WBG Board of Governors approved a strategy for the organization in 2013. This strategy leverages, for the first time, the combined strength of the WBG institutions and their unique ability to partner with the public and private sectors to deliver customized development solutions backed by finance, world class knowledge and convening services. The strategy has three components: (1) maximizing development impact by engaging country clients in identifying and tackling the most difficult development challenges; (2) promoting scaled-up partnerships that are strategically aligned with the goals; and (3) crowding in public and private resources, expertise and ideas.
The architecture underpinning the strategy and instrumental to its success is an operating model introduced in July 2014 based on fourteen Global Practices (GPs) five Cross-Cutting Solution Areas (CCSAs). Since July 1, 2015 these 14 GPs are organized under 4 Practice Group Vice Presidencies: Sustainable Development (SD); Infrastructure; Economics, Finance and Institutions (EFI); and Human Development (HD).
THE ROLE OF THE GLOBAL PRACTICE FOR FINANCE, COMPETITIVENESS AND INNOVATION (FCI) IN THE WBG
As of January 1, 2018, EFI created the Finance, Competitiveness and Innovation (FCI) Global Practice, bringing together Finance and Markets (F&M) and Trade and Competitiveness’ (T&C’s) private sector development specialists. Finance, Competitiveness and Innovation is comprised of about 700 staff working across more than 120 countries. FCI works toward creating an enabling environment in which financial stability, efficiency and firm-level solutions are provided in an integrated way to crowd in the private sector, support the creation of markets, and accelerate equitable growth. About one third of FCI professional staff are decentralized to the field working in proximity to clients.
EFI IFC Advisory Service Unit of the East Asia and Pacific (EAP) Region
Within this framework, the Finance, Competitiveness & Innovation Global Practice (IFC-FCI) under EFI Vice Presidency combines expertise in the financial sector with expertise in the private sector development to foster private-sector led growth and help create markets in client countries. Through this work, EFI IFC-FCI strengthens the World Bank Group’s evolving approach to development finance: to maximize finance for development and to leverage private sector investments for sustainable and inclusive growth.
Within the EAP countries, EFI IFC Advisory Services aims to create an enabling environment where financial stability, access to finance, conducive business environment, competitiveness of high-growth sectors and technology-driven markets, and a healthy innovation and entrepreneurship eco-system provide a foundation to crowd-in private sector investment, create capital markets, and accelerate equitable growth.
In delivering our program and support to client, we work at many levels: (1) at the policy level, we work with governments to primarily improve the policy and institutional environment/framework for enhanced/easier access to finance including financial infrastructure and long-term finance, sectoral and market competitiveness, and ; (2) at applied level, we work with business membership organizations representing various private and financial sectors, academia, think-tanks, incubators, accelerators, and other relevant stakeholders to strengthen the capacity of eco-system for private and financial development.
To ensure effective implementation of the projects, the EFI IFC Advisory Services in EAP is seeking to recruit a highly motivated Senior Financial Sector Specialist with relevant experience in the financial sector in Indonesia, including legal and regulatory aspects of the financial sector. Experience in financial sector development work including in the areas of access to finance/financial inclusion, financial infrastructure, long-term finance including capital market development, digital finance, and regulatory issues related to financial sector would be essential requirements. Broader understanding of private sector development through business environment, sectoral and firm competitiveness will be an added advantage. The Senior Financial Sector Specialist will report to the EFI IFC Practice Manager for EAP. He/she will liaise and collaborate with other global and regional specialists, and all team members in charge of the implementation of PSD and Financial sector projects in selected EAP countries. The Senior PSD /Financial Sector Specialist is expected to be based in Jakarta and may have to travel through the EAP Region. The primary responsibilities for the position are listed below.
Role & Responsibilities:
The Senior Private Sector Development/Financial Sector Specialist will be a key member of EFI IFC EAP team, leading various operational assignments, with specific focus to activities that cover financial sector development. He or she will be expected to lead projects (or components of projects) and expected to engage with clients at the senior level. He or she will be expected to act as task team leader for key advisory projects and support World Bank lending operations as needed.
Duties will include, but are not be limited to, the following:
- Leading and contributing to client engagements which cover a variety of topics and products in the financial sector, with special focus on access to finance, financial infrastructure, and long-term finance.
- Lead or support necessary project preparation and supervision activities, this includes technical inputs on Finance and Competitiveness issues with an added focus on financial sector development.
- Leading policy dialogue with client governments at the highest level on financial sector and private sector development issues;
- Supporting the overall strategy development and delivery of priority programs, with a focus on Indonesia;
- Pursuing fundraising opportunities with donors, reporting and maintaining periodic dialogue with donors contributing to the EFI IFC program in the region.
- Identifying, contracting and managing experts and consultants and ensuring delivery of timely and high quality work;
- Exploring and promoting synergies across product teams, across World Bank as well as IFC industry teams;
- Supporting IFC corporate functions such as represent the IFC/World Bank Group, as needed, at public forums and meetings; Contribute to EFI Advisory team planning, budgeting and reporting; assist in the recruitment of junior staff and consultants, as and when relevant; and other tasks as requested by the Practice Manager or Task Team Leaders.
- MBA or Masters in Business, Finance, Economics/Public policy (or related discipline). Any focus on financial sector development will be an added advantage
- 7+ years of relevant experience in the financial sector, strong understanding of the financial sector in Indonesia as well as work experience in development of new financial products, including SME and digital finance;
- Prior experience of working with multilateral organizations or development institutions, regulatory bodies and experience in policy dialogue and policy making, would be an added advantage;
- Strong analytical skills, ability to think strategically, analyze and synthesize diverse information.
- Global experience; experience in developing countries / emerging economies is a strong advantage.
- Ability and willingness to travel frequently, including to developing countries (including remote, fragile and conflict affected areas).
- Ability to work with a range of stakeholders, including regulatory authorities, government officials, private sector, financial institutions, and members of the start-ups and entrepreneurship ecosystem, etc.
- Ability to communicate ideas clearly and confidently, articulate issues and recommend solutions.
- Highly motivated and committed professional with a keen interest in financial sector development and drive for results;
- Excellent verbal and written English language skills are essential;
- Good team player who can work as a member of a multi-disciplinary and multi-cultural team, motivate and lead group efforts and network effectively across boundaries.
- Strong soft skills to be able to work with a diverse group of colleagues and clients
In addition to the above, the successful candidate much demonstrates the following competencies:
- Mentoring and Developing People: proactively provides mentoring and coaching to junior colleagues within the team or in other departments. Assists with onboarding of new staff and contributes to training exercises.
- Portfolio Monitoring: works independently requiring minimal supervision to proactively monitor the assigned projects. Anticipates potential issues and formulates corrective plans for identified technical problems. Engages effectively with clients to achieve compliance and contributes to discussions on issues related to his/her areas of expertise.
- Lead and Innovate: develops innovative solutions.
- Deliver Results for Clients: proactively addresses client stated and unstated needs.
- Collaborate within teams and across boundaries: collaborates across boundaries, gives own perspective and willingly receives diverse perspectives.
- Create, Apply and Share Knowledge: Applies knowledge across WBG to strengthen solutions for internal and/or external clients.
The World Bank Group values diversity and encourages all qualified candidates who are nationals of World Bank Group member countries to apply, regardless of gender, gender identity, religion, race, ethnicity, sexual orientation, or disability. Sub-Saharan African nationals, Caribbean nationals, and female candidates are strongly encouraged to apply.