Description

Do you want to build a career that is truly worthwhile? The World Bank Group 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. For more information, visit www.worldbank.org.

Europe and Central Asia

The Europe and Central Asia (ECA) region of the World Bank is highly diverse, with countries of all income levels and wide differences in resource endowments, human capital, and institutional capacity. ECA has a strong lending pipeline as well as a large and growing portfolio of Reimbursable Advisory Services. Knowledge is critical to the Bank’s value proposition to client countries in the ECA region in both lending and advisory services. The SPJ GP has an exciting, innovative, and growing portfolio in ECA.

Social Protection & Jobs Global Practice

The Social Protection and Jobs (SPJ) Global Practice is one of the 16 GPs. The WBG is the largest provider of development finance and solutions for social protection and labor, working with high-income, middle-income, and low-income countries to develop country-tailored solutions for specific social protection and labor challenges. These range from increasing the efficiency of social resources spending (where well-designed social safety net programs, reformed pension programs, and integrated social protection systems are proven solutions), to improving labor market outcomes through employment programs and associated policy reforms, often most effective when targeted at the poor or the young.

The ECA SPJ team’s work is clustered around three main themes:  i) building social protection systems; ii) promoting employability and jobs; and iii) adapting to demographic change. In addition, the team implements cross-cutting work on energy subsidy reform, service delivery, guaranteed minimum income (GMI) schemes. and social insurance and governance. ECA countries also require increasing assistance to improve their social insurance and pensions systems. SPJ GP work in ECA is carried out through three Bank instruments: Operational Loans, Advisory Service and Analytics (ASA) funded by the Bank’s administrative budget, and Bank executed trust funds and Reimbursable Advisory Services Agreements (RAS Agreements).

Ongoing Pension Support and Engagement Strategy in ECA
• Pensions in ECA are the largest individual public expenditure item and, given rapid aging in the region, fiscal pressures because of pensions are likely to remain. Expenditure on pensions in EU was equivalent to 13.6 % of the EU’s GDP in 2020 (Eurostat) and approximately 7% in non-EU countries (see Fig 2.1 in ECA fall 2022 report). ECA is also the oldest region in the world, with 14% of ECA’s population above age 65 (ECA 2023 REU). For the EU, the share of 65+ in 2022 was 21.1% (Eurostat). The rapid aging of countries combined with net outflow of the working age population in select countries has fastened the fiscal strain because of pensions.
• Pension systems have high rates of elderly coverage in ECA, and most retirees have full contribution histories. However, the rise in non-standard employment is manifesting itself with fewer retirees from contributory pensions and lower pension adequacy. This inequity across generations further increases the salience of pension dialogue in ECA.
• We are the partner of choice for countries given our institutional knowledge, reputation for sound unbiased technical assistance, and lending instruments (DPOs for policy, IPFs for administration related changes e.g.) to assist with implementation.

Duties and Accountabilities
The responsibilities of the selected ETC will be to support the World Bank’s pension team in ECA. The pension team helps governments analyze, design and reform pensions and social insurance policies. These are aimed at making pensions systems improve coverage, build fiscal sustainability, and provide adequate support to prevent vulnerable groups from sinking into poverty.
The ETC will specifically support costing projection tools and ascertain how those projections might change under different reform scenarios. There are two main tools the team uses:

1. Pension Reform Options Simulation Tool (PROST) – A macro enabled Excel tool developed in the nineties and last updated in 2015, which has formed the basis of our analytical dialogue on pensions. This tool uses client provided contributor and beneficiary data to do long run (over 80 years) financial projections of the pension systems. The tool is versatile to model old age, disability and survivor benefits and can model DB, DC, or hybrid systems. The business engagement model used is for pension experts to model baseline in PROST, review assumptions with client to finalize, and produce a report based on PROST simulations. In the process client capacity building and consensus among stakeholders is emphasized and PROST files are transferred to those who attend the training.
2. Pension Reform Options Micro Simulation (PROMiS) tool – This is a new tool in development since 2019 and uses individual level records of contributors and beneficiaries to generate long term financial projections. When developed this could be an advanced version of PROST given its ability to model complicated scenarios (e.g., claw back benefits, tailored accrual rate formulas, reversals in pension system, etc.).
The cohort-based modelling approach of PROST and its Excel functionality of PROST renders it useful for policy discussions and capacity building. However, to model multiple special pension schemes or nuanced pension reform options (e.g., claw-back of benefits on a case-by-case basis) a micro-simulation model which uses individual data is more apt. The Pension ECA team is working on developing this next generation of modeling capacity to better serve client needs.

The selected ETC will be accountable for performing the assigned responsibilities, notably participating in model development with the team, documenting modeling methodologies tried by the team, and interfacing with the client. She/he would also maintain the competencies in their capacity as a member of the SPJ Global Practice and Human Development team. Accountability means being answerable for achieving results of Bank SP operations, managing quality of dialogue and outputs, risks and institutional initiatives, mentoring junior staff, and operating in compliance with Bank policies and procedures.

The Consultant will perform activities related to the Unit’s operational activities within the Scope of Work, including, but not limited to:
• Learning the proprietary World Bank modelling tools PROST and PROMIS used for pension simulations starting from data collection to interpreting and analyzing results.
• Participating in data and modeling quality control of pension modelling tasks.
• Working in a team environment to strengthen micro-simulation modelling approaches by testing different modeling approaches and documenting the same.
• Developing descriptions of country pension systems for PROMiS using JavaScript Object Notation (JSON).
• Developing standardized data model for use with the PROMiS tool that would simplify simulations of pension scheme baseline and common reform scenarios (such as retirement age increase, change of indexation regimes, etc.)
• Developing and implementing analytical framework for simulating behavioral response to pension reforms.
• Preparing and delivering reports and presentations covering pension policy issues.
• Lead pension modeling training in client countries where engagements involve building actuarial capacity of counterparts.
• Participating, as team member, in missions and related activities related to pension policy dialogue, project preparation and project supervision.
• Maintain regional dialogue and knowledge sharing on common pension policy issues.
• Proactively engaging with counterparts for data validation, explanation of models used by the team, and communication of results.
• Supporting the preparation of different outputs, including policy briefs.
• Other tasks that may arise in agreement with and coordination by the team leader.

Selection Criteria

• Master’s degree (e.g., in economics, social policy, or other quantitative disciplines() and a minimum of eight years of directly relevant experience in modeling. Experience and substantive skills in social protection policy dialogue and program development would be a plus.
• Extensive data management, data engineering and analytics experience with STATA or Python are required.
• Knowledge of Visual Basic for Applications (Excel) (desirable).
• Familiarity with C# and Microsoft Visual Studio developer tools (desirable).
• Demonstrated international experience, including within low-capacity environments.
• Experience working with clients to build capacity.
• Experience in leading analytical and technical assistance activities designed to support the development and strengthening of pension programs.
• Proven ability to carry-out independent policy-relevant research, translate theory into practical applications, and adapt professional knowledge and technical skills to analyze, diagnose and propose solutions to policy issues and challenges.
• Ability to advise, influence and promote consensus among different stakeholders.
• Demonstrated ability to be part of teams. Excellent interpersonal skills, with proven ability to work in a team and intercultural environment, with minimal supervision.
• Proven track record of multi-tasking, managing competing demands and effectively time-manage tasks.
• Evidence of strong interpersonal skills, judgement.
• Evidence of sharing and conveying complex technical issues, in accessible format – written, spoken.
• Excellent oral and written English skills
• Time management: ability to prioritize and manage time efficiently. The selected candidate should be able to handle multiple tasks effectively, meet deadlines, manage uncertainty, and adjust to a constantly changing work program.
• Work schedule:  Ability to work on flexible working hours and an intensive schedule.
• Travel:  Must be willing to travel internationally frequently.

World Bank Group Core Competencies

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