MIGA Professionals Program - Underwriter

• Job #123038
• Job TitleMIGA Professionals Program - Underwriter
• Job FamilyOther
• Job TypeProfessional & Technical
• GradeGF
• LocationWashington, DC
• Recruitment TypeInternational Hire
• Language RequirementEnglish [Essential]
• Closing Date27-Jan-2013

Background / General description:
The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, is an international organization committed to promoting foreign direct investment in its developing country members in order to support economic growth, reduce poverty and improve people’s lives. MIGA fulfills this mandate by issuing guarantees against non-commercial risks (political risk insurance contracts) to investors and lenders, covering: expropriation, breach of contract, currency transfer restrictions, war and civil disturbance, and non-honoring of sovereign financial obligations. MIGA’s operational priorities focus on investments in the world’s poorest countries and investments in conflict-afflicted environments, providing support for complex deals, particularly projects involved in infrastructure and extractive industries, and supporting South-South investments. The four Operational Departments of MIGA all work together to extend insurance to developmentally sound cross-border investments made in member countries. •The Operations Department (MIGOP) has primary responsibility for underwriting guarantee projects in a broad range of sectors including infrastructure, finance, telecom, agribusiness, manufacturing, services, tourism, oil, gas, and mining. •The Economics and Policy Department (MIGEP) is responsible for assessing country, environmental, social, reputational, and project risks for due diligence, as well as ensuring projects’ compliance with MIGA’s environmental and social standards throughout guarantee periods. •The Legal Affairs and Claims Department (MIGLC) focuses on all legal activities related to operational support for the provision of guarantees against political risks, advice to member countries on varied aspects of foreign investment legal matters, and assistance of investment disputes between investors and host country. •The Finance and Risk Department (MIGFR) acts as the custodian of MIGA’s financial integrity with a focus on both income sustainability and balance sheet strength. It also provides analytical support for the effective implementation of MIGA’s operational work program. The MIGA Professionals Program (MPP) seeks to attract new and diverse talent. The program is currently looking for candidates for a term of three years. Applicants should be 35 years old and under. Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 year term appointment. •Successful candidates to the MPP program will start after July 1, 2013.
Duties and Accountabilities:
The successful candidate will: 1.Underwrite PRI for private investments in various sectors with an emphasis on the agribusiness and manufacturing sector. Candidate will (a) support Senior Underwriters on complex transactions and (b) lead transactions. 2.Develop and maintain contacts with private sector investors, lenders and other institutions involved in the development and implementation of related sector projects in developing countries; 3.Develop and maintain contacts with sector counterparts in other parts of the WBG both at headquarters and in field; 4.Develop and implement individual business development plan, including operational travel as needed; 5.Develop a plan (in coordination with the relevant Sector Leader) to identify new business opportunities in AMS for MIGA. Coordinate and lead cross-functional projects teams within MIGA in order to carry out project due diligence and risk assessment and other assignments, as requested; 6.Conduct project due diligence that includes evaluating legal and financial documents. Work with World Bank Group counterparts to leverage their knowledge and resources. Identify potential problems and propose timely solutions, as appropriate. Assess the degree and types of non-commercial risks likely to be involved in an investment and determine whether these risks should be covered and under what terms and conditions; 7.Prepare high quality presentations and papers for MIGA’s Management and MIGA’s Board of Directors, including recommendations on appropriate guarantee structures, including but not limited to, risk mitigants, Present projects and other assignments to MIGA Senior Management and to the Board of Directors; 8.Create and deliver presentations to high level private and public sector officials and be able to represent MIGA effectively; 9.Negotiate contracts of guarantee with investors to ensure contracts are developed and documented in accordance with MIGA’s underwriting policies.
Selection Criteria:
•MBA or Master Degree in Finance, Economics, International Business or related field; •A minimum of 5 years of experience analyzing and/or executing commercial or public sector investments, financial analysis with a focus on small and medium enterprise transactions in emerging markets or political risk insurance underwriting; •A minimum of two (2) years of direct work experience related to investments either in the agribusiness or manufacturing sector and legal documentation/contracts; •Experience in political risk analysis is desirable; •Experience in project and or structured finance is desirable; •Excellent analytical and communication skills (both written and oral); •Effective interpersonal skills and ability to interact effectively with clients and colleagues from various cultural backgrounds under time pressure; •Ability to work independently and as a Team Member; •Fluency in spoken and written English; and •Fluency in a language other than English is desirable COMPETENCIES •Client Orientation - Takes personal responsibility and accountability for timely response to client queries, requests or needs, working to remove obstacles that may impede execution or overall success. •Drive for Results - Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results, and has the personal organization to do so. •Teamwork (Collaboration) and Inclusion - Collaborates with other team members and contributes productively to the team's work and output, demonstrating respect for different points of view. •Knowledge, Learning and Communication - Actively seeks knowledge needed to complete assignments and shares knowledge with others, communicating and presenting information in a clear and organized manner. •Business Judgment and Analytical Decision Making - Analyzes facts and data to support sound, logical decisions regarding own and others' work.

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