Description

Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. 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, increasing shared prosperity, and promoting sustainable development. 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

The World Bank is one of the world’s largest sources of funding and knowledge for developing countries working in more than 100 developing economies with the twin goals of ending extreme poverty and promoting shared prosperity. For each client, the World Bank uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth, and improve quality of life.  The International Bank for Reconstruction and Development is the original member of the World Bank Group and is owned by 189 member countries whose views and interests are represented by a Board of Governors and a Washington, DC-based Board of Directors.  There are five World Bank Group institutions, each of which specializes in different aspects of development: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID).

The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group’s funded benefit plans, including the retirement scheme – the Staff Retirement Plan, the retiree medical and life insurance programs – the Retired Staff Benefits Plan, and other ancillary benefits.  Financial management includes asset management responsibilities and actuarial support.  PEN manages approximately US$37 billion invested across a range of asset classes, including fixed income, public equities, private equity, real assets, private credit, and absolute return strategies.  The Pension Finance Committee, appointed by the Bank Group President and chaired by the Chief Financial Officer, has oversight responsibility for the financial management of the plans.  PEN’s responsibilities also include the delivery of technical assistance on multi-asset class investment management to pension plans, endowments, and funds for the future, and the management of the Pension Administration function. PEN identifies, selects, evaluates, and monitors investments, mainly through outside managers, on a global basis.

Portfolio Managers in PEN are allocated to a particular team upon entry and may be reassigned to other investment teams at the discretion of the Manager of PENIN in response to business priorities. This Portfolio Manager position is intended at this stage for the Developed Equities portfolio.

The Portfolio Manager’s responsibilities, as a member of the Developed Equities team, will include, among others, portfolio construction, manager selection, and assessing tactical allocations within developed markets as well as monitoring the portfolio of existing managers.  The roles and responsibilities are outlined below:

Roles & Responsibilities:

The Portfolio Manager’s specific duties will be, but are not limited to, the following:

*    Participating / leading efforts in constructing equity portfolios, sourcing investment ideas and leading due diligence process when hiring external managers.

*    Monitoring the existing equity portfolios of external managers.

*    Performing quantitative and qualitative analysis to assess individual managers and their portfolio fit.

*    Enhancing quantitative tools for manager selection analysis and manager monitoring, including risk management as well as portfolio construction.

*    Monitoring of financial markets including regulatory and other developments for ongoing assessment of opportunities in various spaces.

*    Evaluating the performance of the overall portfolio and having an active interaction with the Middle and Back Office.

*    Assisting in rebalancing needs and strategies for developed markets portfolios including through trading of ETFs.

*    Preparing reports and making presentations to the Investment Committee and Pension Finance Committee (PFC) as necessary.

*    Staying up to date on all relevant market information, including new and innovative investment opportunities.

*    Engaging in capacity-building assignments with external clients; and

*    Undertaking other department-wide or Treasury-wide assignments as necessary.

Selection Criteria

*    Advanced degree in finance, economics, or financial economics and at least five years of relevant investment management experience. Experience in equity long-only and/or long-short equity strategies is a must.

*    Investment experience in the investment management industry and financial markets with a focus on the due diligence of external managers is a must.

*    Experience in assessing different directional equity and equity long/short strategies. Experience in trading is preferred. Experience or strong familiarity with financial derivatives.

*    Excellent analytical and financial modeling skills (time series analysis as well as equity valuation, programming skills a plus).Experience with Bloomberg PORT, eVestment, Python….etc.

*    Ability to conduct research independently across a wide range of topics (assessing individual strategies and investments; manager analytics and portfolio analytics and construction in long-only and long/short equity strategies.

*    Proactive in searching for new investment ideas/managers.

*    Excellent writing and communications skills. Ability to present complex products or analyses concisely and clearly.

*    Sound business judgment and confidence in convictions as they relate to investment decisions.

*    A curious, creative, original thinker, and quick learner, with initiative, drive, and willingness to take appropriate risks.

*    Diplomacy and strong interpersonal skills; commitment to work in a team-oriented, multi-cultural environment.

*    Ability to work independently, lead projects and work under pressure and tight time constraints.

*    A strong team player with the confidence to interact at all levels of an organization.

*    Excellent communication and presentation skills, both verbal and written; and

*    Highest ethical standards.

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.