Sub-Saharan Africa, with a population of over 700 million people in 47 countries, is home to 34 of the world’s poorest countries. Making headway against poverty in sub-Saharan Africa continues to present the world’s most formidable developmental challenge. The Africa Region’s Finance and Markets Global Practice is responsible for providing operational support and technical advice to AFR clients on a broad range of financial sector issues. The Unit has over 30 staff covering a span of 47 countries and 15 country directorates. The Financial Sector specialists in the department have region-wide responsibility for providing technical advice and operational support to sub-Saharan country departments and their client countries. In carrying out its mandate, the unit collaborates closely with regional staff working in other Global Practices and with other parts of the Bank Group, including the IFC, MIGA and WBI. In line with the Africa region’s objective to facilitate the implementation of the Paris Declaration, the unit has an established track record in working in partnership with other development partners including the IMF, Germany, DFID, AFD, AfDB, SECO, SIDA and others.
Duties and Accountabilities:
The South Africa financial sector program consists of a mix of lending and non-lending technical assistance as well as analytical and advisory work.
The South Africa Financial Sector Development and Reform Program (FSDRP), a multi-donor Trust Fund with initial funding from the Swiss State Secretariat for Economic Affairs (SECO), is the main vehicle for providing technical assistance and analytical and advisory work. The four year program, approved in July 2014, will support efforts by South Africa to:
•Strengthen its financial regulatory reform agenda including crisis management and resolution as well as market conduct regulation and supervision under the Twin Peaks regulatory model;
•Deepen its capital markets and strengthen regulatory aspects;
•Develop an appropriate framework to support long-term infrastructure finance in support of the National Development Plan; •Leverage innovative retail payment instruments and delivery channels to deepen financial inclusion;
•Increase SME finance; and
•Improve debt rehabilitation and insolvency provisions for individuals.
In addition, a loan is currently under preparation with the Land and Agricultural Development Bank of South Africa which will aim at scaling up lending to farmers, especially to emerging farmers and to strengthen Land Bank’s institutional capacity.
The Africa Region’s Finance and Markets Global Practice is seeking to add a Financial Sector Specialist to the team working on South Africa. The Financial Sector Specialist would be based in Pretoria, South Africa, and be an integral team member, supporting the Task Team Leader (TTL) and team based in Washington, DC.
The Financial Sector Specialist will:
•Support the TTL in the project management and implementation of the South Africa FSDRP, including reporting to the donor(s) and monitoring implementation progress;
•Contribute to and be an integral team member for the technical assistance and analytical and advisory work to be carried out under the South Africa FSDRP. This will include contributing to Terms of Reference, providing background research, and contributing to reports and knowledge work. Depending on the specialization and level of experience, the Financial Sector Specialist can take over more responsibility for specific tasks to be agreed with the TTL;
•Support the preparation of the loan to the Land and Agricultural Development Bank of South Africa; and
•Participate in the financial sector dialogue at both policy and technical level and contribute technical inputs to the work program and support the development of new engagements.
Selection criteria:
COMPETENCIES
•Project Design for Impact and Sustainability - Able to contribute to the design of projects and programs, based on an understanding of the country and sector context.
•Sector Dialogue - Able to conduct a dialogue with the client on familiar topics, with a narrow scope, based on a solid understanding of the sector.
•Knowledge and Experience - Demonstrate in depth knowledge of the political, economic, policy, and operational aspects of Financial Sector Development; Engage country clients/ governments to develop projects that will build capacity.
•Client Orientation - Maintain client relationships in the face of conflicting demands or directions and provides evidence-based advice and solutions based on sound diagnosis and knowledge.
•Drive for Results - Identify the needed resources to accomplish results involving multiple stakeholders and find solutions to obstacles affecting key deliverables.
•Teamwork, Collaboration and Inclusion - Show leadership in ensuring the team stays organized and focused, and actively seek and considers diverse ideas and approaches.
•Knowledge, Learning and Communication – actively participate in the sharing of best practice, trends, knowledge and lessons learned across units and with clients and partners, articulating ideas verbally and in writing in a clear and compelling way across audiences of varied levels.
•Business Judgment and Analytical Decision Making - Gather inputs, assess risk; consider impact and articulate benefits of decisions for internal and external stakeholders over the long term.
SELECTION CRITERIA:
Candidates must have the following technical qualifications:
•Advanced degree in economics, finance, business, or related discipline; minimum 5 years of relevant professional work experience since completing graduate degree.
•Extensive project management experience. Experience with development programs either with the World Bank Group or a related organization or donor is a plus.
•Finance sector experience, either in the private sector or from a regulatory/ policy perspective.
•Solid understanding of financial sector issues, including specialization on either (i) regulation and supervision, (ii) capital markets, (ii) financial inclusion (payments or SME finance) or (iv) any other relevant field for the South Africa work program.
•Excellent conceptual and analytical skills with an ability to address both macro and micro issues and a track record of excellence in analytical work.
•Recognized and respected by peers; demonstrated ability to interact effectively and collegially with peers at all levels.
•Maturity to make sound judgments on issues requiring management guidance and work independently.
•Strong client orientation with ability to multi-task and high attention to detail.
•Demonstrated ability to communicate ideas and analyses clearly and tactfully, both verbally and in writing.
•Experience and knowledge of the South African financial sector and economic context.
Candidates should demonstrate excellence in the following qualitative characteristics:
•Ability to deliver on time and in quality, through high standards, good organization and/or soft skills.
•Ability to recognize and learn from failure as well as success.
•Ability to work with diverse team members and clients.
•Knowledge of emerging economy conditions and challenges related to project implementation plus ideas to overcome related constraints.
Interested candidates are invited to apply to vacancy # 141186 on www.worldbank.org/careers. This vacancy closes on November 13, 2014. Only online applications submitted through our careers site will be admitted. The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.
