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.

Treasury Market Operations (CTM) serves as IFC Treasury’s market counterparty-facing front office.  CTM is responsible for the management of IFC’s cash and liquid assets as well as its funding operations.

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. CTMLM works in concert with the Cash 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.   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 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;
•  AAA credit corporate bonds, including Covered Bonds;
•  Domestic and foreign asset-backed, mortgage-backed securities, and other structured finance products in US dollars or asset-swapped into dollars;
•  Derivative products, including swaps, futures, and option contracts.

CTMLM is recruiting a Portfolio Officer to be based in Singapore. The position will report to Manager, CTMLM located in Washington, DC, USA.

Duties and Accountabilities:
– Active management of a sub-portfolio of AAA-rated Covered Bonds
•  Ongoing surveillance of the eligible investment universe for the assigned portfolio
•  Obtaining best execution for the Corporation (Note: This position will require flexibility of working hours to maximize cross-over with European trading hours.)
•  Identifying and working towards the inclusion of new products and issuers in the investment universe
•  Monitoring Bloomberg, Remittance reports, MSCI and RepRisk reports for issuers in and eligible for inclusion in the sub-portfolio
– Participating in the Investment Committee that allocates cash and risk resources to all the sub-portfolios
•  Staying apprised of the opportunities available in the other Strategic Portfolios
•  Contributing to the allocation of cash and limit resources by actively participating in the CTM Investment Committee
– Ongoing surveillance of capital markets in the region to assist the Corporation with the valuation of mission investments in debt instruments.
– Sharing technical knowledge by teaching derivative courses internally in association with academic institutions that partner with IFC

CTMLM members are expected to support their fellow portfolio managers located around the globe with trade execution as needed, e.g., when a PM is on leave. 

Selection Criteria

•  CFA Charter Holder  and Advanced degree (Master or PhD) in finance, economics, econometrics or related fields and eight or more years of experience in proprietary portfolio management.
•  Knowledge of global fixed income and derivative markets is required, including 6+ years trading IRS and XCCY swaps for hedging
•  The candidate needs to understand and defend views on expectations related to macro-economic indicators, markets’ liquidity, bond valuations, swap levels, and XCCY swaps.
•  Excellent communication skills – both verbal and written are required. Experience giving presentations and communicating and interacting with a broad range of audiences on financial technical matters.
•  Excellent team player with strong interpersonal skills, and commitment to work in a team-oriented, multi-cultural environment with the highest ethical standards is required.
•  Fluency in English
•  Previous experience with Bloomberg Terminal and trading and booking systems is required.

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.