World Bank recruits a Consultant
| Job #: | req2447 |
| Sector: | Financial Sector |
| Grade: | EC3 |
| Term Duration: | 1 year 0 months |
| Recruitment Type: | Local Recruitment |
| Location: | Kampala, Uganda |
| Required Language(s): | English |
Description :
About the World Bank Group:
Established in 1944, the WBG is one of the world’s largest sources of funding and knowledge for development solutions. In fiscal year 2018, the WBG committed $67 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $24 billion was concessional finance to its poorest members. It is governed by 188-member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.
The WBG consists of five specialized institutions: 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 the Settlement of Investment Disputes (ICSID). The World Bank is organized into six client-facing Regional Vice-Presidencies, several corporate functions and thirteen Global Practices to bring best-in-class knowledge and solutions to regional and country clients.
Global practices & cross-cutting solutions areas :
The global development community is at an auspicious turning point in history. Thanks to the success of the past few decades and favorable economic growth, developing countries now have an unprecedented opportunity to end extreme poverty within a generation. This is the vision of the WBG: to eradicate extreme poverty by reducing the number of people living on less than $1.90 a day to 3 percent by 2030, and promote shared prosperity by fostering the income growth of the bottom 40 percent in every country.
To achieve this vision, the WBG Board of Governors approved a strategy for the organization in 2013. This strategy leverages, for the first time, the combined strength of the WBG institutions and their unique ability to partner with the public and private sectors to deliver customized development solutions backed by finance, world class knowledge and convening services. The strategy has three components: (1) maximizing development impact by engaging country clients in identifying and tackling the most difficult development challenges; (2) promoting scaled-up partnerships that are strategically aligned with the goals; and (3) crowding in public and private resources, expertise and ideas.
The architecture underpinning the strategy and instrumental to its success is an operating model introduced in July 2014 based on fourteen Global Practices (GPs) five Cross-Cutting Solution Areas (CCSAs). Since July 1, 2015 these 14 GPs are organized under 4 Practice Group Vice Presidencies: Sustainable Development (SD); Infrastructure; Economics, Finance and Institutions (EFI); and Human Development (HD).
The rôle of the global practice for finance, competitiveness and innovation (fci) in the WBG :
As of January 1, 2018, EFI created the Finance, Competitiveness and Innovation (FCI) Global Practice, bringing together Finance and Markets (F&M) and Trade and Competitiveness’ (T&C’s) private sector development specialists. Finance, Competitiveness and Innovation is comprised of about 700 staff working across more than 120 countries. The new Global Practice will capitalize on the synergies between F&M and T&C in fostering private-sector led growth. It will work toward creating an enabling environment in which financial stability, efficiency and firm-level solutions are provided in an integrated way to crowd in the private sector, support the creation of markets, and accelerate equitable growth. FCI also houses the IFC Implementation Units focused on implementing public sector advisory work in support of the finance and entrepreneurship agenda across all six regions.
About one third of FCI professional staff are decentralized to the field working closely with the CMUs and in proximity to clients. FCI professionals also lead or participate in a wide variety of ASA and client advisory work that add to the core expertise delivered to client countries. Knowledge and learning is a central part of the FCI agenda, with work focused on the following thematic areas: (a) Financial Stability and Integrity; (b) Long Term Finance; (c) Financial Inclusion and Infrastructure; (d) Industry Solutions; (e) Firm Capabilities and Innovation; and (f) Climate and Risk Management. FCI will work closely with the other newly formed Global Practice for Macroeconomics, Trade and Investment (MTI) on systematic country diagnostics, country strategies, policy lending and other private sector diagnostics, ASA and lending activities.
The Uganda Country Partnership Strategy is structured around three strategic clusters: (a) the first CPF objective focuses on strengthening governance, accountability, and service delivery; (b) the second CPF objective aims at raising rural incomes; and (c) the third objective is to boost inclusive growth in urban areas. In particular, the World Bank Group support to boost inclusive growth in urban areas revolves around providing stimulus for enhanced credit supply to MSMEs and supporting SME growth and job creation through industrialization transformation programs, and strengthen investor protections and creditors’ rights through regulatory reforms in insolvency, secured transactions, credit information, and dispute resolution. At the same time, a key priority for raising rural incomes will include ensuring access to finance for farmers by strengthening rural financial service providers, especially microfinance institutions and savings and credit cooperatives, and increasing the capacity of banks to lend to agribusinesses. FCI plays a key role in delivering the Country Partnership Strategy working across Global Practices to achieve the twin goals of the World Bank Group of ending poverty and boosting shared prosperity. FCI is looking for an Extended Term Consultant (ETC) to support its work in the country, with a focus on financial sector development, although the position may also be expected to support FCI’s broader engagement on competitiveness and private sector development, if needs arise.
Roles & Responsibility :
The advertised position will report to the Practice Manager of the East Africa region in FCI who is based in Washington, DC, and will closely work under the guidance of the Lead Financial Sector Specialist based in Nairobi and the FCI team working on Uganda.
The candidate will need to demonstrate broad knowledge of financial sector topics and issues and a more in-depth technical knowledge of one of the three thematic areas :
- Financial Stability and Integrity: Support teams working on financial sector regulation and oversight ;
- Financial Infrastructure and Access: Support teams working on strengthening digital financial services, credit infrastructure such as movable collateral registry and credit reporting, responsible financial inclusion, access to finance for small and medium enterprise finance, financial literacy ;
- Long term finance and climate risk finance: Support teams focusing on initiatives such as infrastructure finance, housing finance, agricultural finance, insurance, pensions, private equity, and capital markets.
The candidate will provide support to grow FCI GP’s financial sector program in Uganda, including in financing and/or Technical Assistance engagements. The technical assistance engagements currently revolve around: i) strengthening the capacity of financial sector regulators, including the Bank of Uganda, Insurance Regulatory Authority, Retirement Benefits Regulatory Authority, Microfinance Regulatory Authority; ii) scaling up agri-finance and insurance in Uganda; and iii) supporting the formulation of financial sector development strategy.
The candidate is also expected to provide support and work on the broader topics of competitiveness and innovation in Uganda that the FCI GP team will be working on.
Support to above project portfolio involves the following activities:
- Project management/implementation support (project preparation and project supervision): For tasks where project management responsibility is assigned in whole or part to FCI: carry out necessary project preparation and supervision activities, this includes technical inputs on to FCI issues, as well as close attention to financial management, procurement and safeguards (social and environmental). FCI will also be preparing a new lending project in FY20 and the candidate will be expected to provide deep support to this proposed activity ;
- Advisory Services and Analytics: Contribute to advisory and analytical work undertaken by FCI, such as sectorial assessments (e.g. banking, microfinance, capital markets), impact assessments, surveys, stakeholder analysis and other technical analyses, as required ;
- General technical support to the World Bank Uganda office: Provide technical FCI inputs to the country level strategic policy dialogue (including Systematic Country Diagnostic and Country Partnership Framework), cross-support to relevant components in operations managed by other GPs (investment operations or development policy grants) and in multi-sectoral advisory and analytical work (e.g. World Bank support to the North East) ;
- Dialogue Coordination. Maintain close liaison with key Government counterparts involved in financial sector issues ;
- Donor Coordination: Maintain close liaison with the development partners such as African Development Bank, United Kingdom Department For International Development (DFID), USAID, United Nations, and consult with them for seeking inputs on FCI Issues.
Perform other duties and functions as assigned by the practice manager.
Selection Criteria :
Qualifications and experience :
- Advanced degree in relevant field (e.g. economics, finance, business, public policy or related relevant discipline) ;
- At least 8 years of relevant work experience ;
- Financial sector experience, either in the private sector or from a regulatory/policy/development perspective, and close working on financial sector development/policy with or for the central bank would be an added advantage ;
- Solid understanding of financial sector issues and more in depth knowledge in one of the financial sector thematic areas of FCI GP (i.e. financial stability and integrity, infrastructure and financial access including with vulnerable communities and refugees, and long-term finance and climate risk finance) ;
- Proven ability in conceptualizing and developing high quality technical and analytical work related to financial sector topics ;
- Ability to work well with clients, strong interpersonal and team skills ;
- Excellent technical writing and presentation skills (in developing power point based reports and presentations) and public speaking ;
- Knowledge of Uganda financial sector and experience of working for or with regulators on policy making and financial sector development will be an added advantage ;
- Demonstrated track record of working independently, seeking guidance on complex projects/ issues from senior specialists ;
- Strong ability to analyze and resolve issues in cross cutting areas of specialization, with an understanding of how solutions affect the overall work program strategy ;
- High degree of motivation, initiative, flexibility, reliability, and responsiveness to changing demands; capacity for effective multi-tasking, with demonstrated ability of being an independent starter with minimal supervision.
Required Bank Competencies :
- Lead and Innovate – Contributes new insights to understand situations and develops solutions to resolve complex problems. Adapts as circumstances require and manages impact of own behavior on others in context of WBG’s values and mission. Identifies and pursues innovative approaches to resolve issues ;
- Deliver Results for Clients – Adds value by constantly looking for a better way to get more impactful results; sets challenging stretch goals for oneself. Immerses oneself in client experiences and perspective by asking probing questions to understand unmet needs. Demonstrates accountability for achieving results that have a development impact and financial, environmental and social sustainability. Identifies and proposes solutions to mitigate and manage risks ;
- Collaborate Within Teams and Across Boundaries – Appropriately involves others in decision making and communicates with key stakeholders. Approaches conflicts as common problems to be solved. Actively seeks and considers diverse ideas and approaches displaying a sense of mutuality and respect. Integrates WBG perspective into work ;
- Create, Apply and Share Knowledge – Leverages department’s expertise and body of knowledge across WBG to strengthen internal and/or external client solutions. Seeks to learn from more experienced staff to deepen or strengthen their professional knowledge and helps others to learn. Builds personal and professional networks inside and outside the department unit ;
- Make Smart Decisions – Seeks diversity of information and inputs, researches possible solutions, and generates recommended options. Identifies and understands risks and proposes recommendations. Based on risk analysis makes decisions in a timely manner within own area of responsibility, considering the interests and concerns of stakeholders ;
- Lead and innovate – Demonstrates leadership and commitment to the WBG’s values and mission; takes initiative and persistent in the drive for results; seeks opportunities to improve and find innovative solutions to problems; inspires and encourages others to have a positive attitude and impact; ability to adapt to changing circumstances; and willingness to be bold to increase the Bank’s Group’s effectiveness.
Note: The selected candidate will be offered a one-year appointment, renewable for an additional one year, at the discretion of the World Bank Group, and subject to a lifetime maximum ET Appointment of two years.
The World Bank Group values diversity and encourages all qualified candidates who are nationals of World Bank Group member countries to apply, regardless of gender, gender identity, religion, race, ethnicity, sexual orientation, or disability. Sub-Saharan African nationals, Caribbean nationals, and female candidates are strongly encouraged to apply.