Associate Portfolio Officer

Contract

This is a World Bank Group grade: GF contract. More about World Bank Group grade: GF contracts.

Associate Portfolio Officer

Description

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record US$43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.

Liquid Assets Management (CTMLM) in the Treasury & Syndications Vice-Presidency is responsible for managing that portion of IFC’s liquid assets not immediately required for disbursement to the mission, the “Strategic Portfolios”. CTMLM’s primary objectives are to preserve IFC’s capital and maximize returns while operating in compliance with the Investment Directive including the Risk Appetite Limits established by the Corporate Risk Committee. IFC liquid assets are invested in the highest-quality interest-bearing instruments (fixed and floating) and held in distinct and individually managed sector/region-focused-sub-portfolios. Each sub-portfolio is managed by a Portfolio Manager (a GG or higher-grade portfolio officer with responsibility for a defined subset of fixed-income assets held in the liquidity portfolio) with individual accountability for their assigned sub-portfolio and shared accountability for the overall performance of the Strategic Portfolios.

CTMLM is a small group of highly motivated, team-oriented professionals who work closely with IFC’s risk, valuations, back-office, and accounting departments. The portfolio includes the following products:

• High credit sovereign, sovereign guaranteed, and agency bonds in US dollars or asset-swapped into U.S. dollars; • Domestic and foreign asset-backed, mortgage-backed securities, and other structured finance products in US dollars or asset-swapped into dollars; • AAA credit corporate bonds, including Covered Bonds; • Derivative products, including swaps, futures, and option contracts.

CTMLMs primary objective is to preserve the Corporation’s capital and earn a return consistent with the Risk Appetite Statement approved by the Corporate Risk Committee (CRC). LAM works in concert with the Cash Management and Funding units of CTM to ensure that the Corporation meets the criteria set by the CRC to ensure sufficient liquidity to meet the needs of the Corporation over the near term and for an extended period, should the Corporation’s ability to fund itself in the capital markets be restricted. In addition, team members in CTMLM and Cash Management should be able to back-up one another when needed. CTMLM is recruiting an Associate Portfolio Officer to be based in Washington, D.C. whose primary responsibilities will be to support the Portfolio Managers through ad-hoc macro-economic analysis, security level analysis (credit, market and ESG) and trade execution support.

Duties and Accountabilities

Responsibilities include, but are not limited to: • Aiding with the surveillance of eligible investments’ executable market levels, credit and ESG characteristics including, inter alia, bonds issued by sovereigns and their instrumentalities, private corporations (mostly commercial banks) and SPVs • Obtaining best execution for the Corporation following the orders of portfolio managers and entering executed transactions into IFC systems/verifying success of straight-through processing • Executing repurchase transactions for US Treasuries held in Net Worth Liquidity and transactions during London trading hours when needed. This position will require staff to come to the office very early, e.g., 4 a.m., periodically. • Aiding with credit and market-risk assessment for new securities and their issuers. • Aiding with the surveillance and analysis of the legal and political environments for eligible investments • Develop and maintain financial models to monitor the creditworthiness of portfolio companies and prospective portfolio companies and/or tranches of securitizations. • Analysis of the various options for hedging foreign exchange and interest rate risk for eligible investments • Opening accounts with dealers and maintaining KYB when applicable • Aiding with Portfolio Monitoring (ongoing surveillance) and Reporting, including, inter alia, preparation of inputs for and summaries of meetings of the portfolio managers and inputs for the notes to IFC’s financial reports for investors.

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record US$43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.

Liquid Assets Management (CTMLM) in the Treasury & Syndications Vice-Presidency is responsible for managing that portion of IFC’s liquid assets not immediately required for disbursement to the mission, the “Strategic Portfolios”. CTMLM’s primary objectives are to preserve IFC’s capital and maximize returns while operating in compliance with the Investment Directive including the Risk Appetite Limits established by the Corporate Risk Committee. IFC liquid assets are invested in the highest-quality interest-bearing instruments (fixed and floating) and held in distinct and individually managed sector/region-focused-sub-portfolios. Each sub-portfolio is managed by a Portfolio Manager (a GG or higher-grade portfolio officer with responsibility for a defined subset of fixed-income assets held in the liquidity portfolio) with individual accountability for their assigned sub-portfolio and shared accountability for the overall performance of the Strategic Portfolios.

CTMLM is a small group of highly motivated, team-oriented professionals who work closely with IFC’s risk, valuations, back-office, and accounting departments. The portfolio includes the following products:

• High credit sovereign, sovereign guaranteed, and agency bonds in US dollars or asset-swapped into U.S. dollars; • Domestic and foreign asset-backed, mortgage-backed securities, and other structured finance products in US dollars or asset-swapped into dollars; • AAA credit corporate bonds, including Covered Bonds; • Derivative products, including swaps, futures, and option contracts.

CTMLMs primary objective is to preserve the Corporation’s capital and earn a return consistent with the Risk Appetite Statement approved by the Corporate Risk Committee (CRC). LAM works in concert with the Cash Management and Funding units of CTM to ensure that the Corporation meets the criteria set by the CRC to ensure sufficient liquidity to meet the needs of the Corporation over the near term and for an extended period, should the Corporation’s ability to fund itself in the capital markets be restricted. In addition, team members in CTMLM and Cash Management should be able to back-up one another when needed. CTMLM is recruiting an Associate Portfolio Officer to be based in Washington, D.C. whose primary responsibilities will be to support the Portfolio Managers through ad-hoc macro-economic analysis, security level analysis (credit, market and ESG) and trade execution support.

Duties and Accountabilities

Responsibilities include, but are not limited to: • Aiding with the surveillance of eligible investments’ executable market levels, credit and ESG characteristics including, inter alia, bonds issued by sovereigns and their instrumentalities, private corporations (mostly commercial banks) and SPVs • Obtaining best execution for the Corporation following the orders of portfolio managers and entering executed transactions into IFC systems/verifying success of straight-through processing • Executing repurchase transactions for US Treasuries held in Net Worth Liquidity and transactions during London trading hours when needed. This position will require staff to come to the office very early, e.g., 4 a.m., periodically. • Aiding with credit and market-risk assessment for new securities and their issuers. • Aiding with the surveillance and analysis of the legal and political environments for eligible investments • Develop and maintain financial models to monitor the creditworthiness of portfolio companies and prospective portfolio companies and/or tranches of securitizations. • Analysis of the various options for hedging foreign exchange and interest rate risk for eligible investments • Opening accounts with dealers and maintaining KYB when applicable • Aiding with Portfolio Monitoring (ongoing surveillance) and Reporting, including, inter alia, preparation of inputs for and summaries of meetings of the portfolio managers and inputs for the notes to IFC’s financial reports for investors.

Selection Criteria

• Graduate-level Degree in Finance or a quantitative field and a CFA • 4 or more years of relevant experience or an equivalent combination of education and experience. • Knowledge of the ways FX swaps and OTC derivatives (interest-rate and cross-currency basis swaps) are used for hedging fixed-income instruments. • Completion of a commercial bank or IFC credit training course preferred. • Ability to work under pressure. • Understanding of macroeconomics. • Strong quantitative skills. • Open to initiatives and risks; comfortable operating in an open, team-based environment. • Excellent oral and written communication skills. • Detail oriented.

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.