Lead Underwriter

Washington D.C.

Organization: World Bank Group
Location: Washington D.C.
Grade:
Occupational Groups:
- Managerial positions
Closing Date: Closed

Do you want to build a career that is truly worthwhile? The Multilateral Investment Guarantee Agency (MIGA or Agency) is a member of the World Bank Group, and our mission is to promote foreign direct investment into developing countries to help end extreme poverty and boost shared prosperity on a livable planet. We do that through the provision of political risk insurance and public sector credit guarantees to investors and lenders against losses caused by noncommercial risks. For more information, visit www.miga.org.

In July 2024, the World Bank Group launched the WBG Guarantee Platform ( WB GP) a major upgrade to its guarantees business, that will deliver improved guarantee access through a unified team at MIGA as well as innovative new guarantee solutions. These new reforms will help position MIGA to achieve the goal of tripling annual guarantee issuance to $20 billion by 2030.

To meet this goal and maximize its development mandate, MIGA must stay focused on supporting the needs of MIGA’s developing member countries, while complementing the activities of other public and private insurers. MIGA’s operational priorities focus on: investments in IDA countries; investments in conflict-afflicted environments; support for complex and innovative deals, especially those involving project financing (in particular infrastructure, extractive industries and climate change); and support for South-South investments. To further develop the Agency’s business and foster innovation in the WB Guarantee Platform in these core areas and to meet the evolving needs of investors in developing and emerging markets, MIGA’s FIG ( Financial Institutions Group ) Operations Department (MIGOP) seeks a Lead Structured Products Specialist with extensive financial sector experience in Structured Finance and Capital Markets who will identify new business opportunities for MIGA and WB’s GP, achieve business targets and help grow MIGA’s guarantee business.

This position will be based in Washington D.C. The selected candidate will report to MIGA’s Financial Institutions Group Manager based in Washington D.C.

Specific responsibilities include, but are not limited to:

• Leveraging MIGA/WB/IFC public sector guarantee products within the WBG Guarantee Platform to develop structures that mobilize private sector financing through credit enhancement and/or capital relief in emerging markets;

• Evaluating, structuring and negotiating guarantees with counterparties, in particular innovative capital market structures and products, special purpose structures, synthetic risk transfers, risk sharing facilities, debt funds;

• Developing structures of guarantees that could enable RWA/capital relief for banks;

• Collaborating with other units within MIGA, IFC, and the WBG to deliver high level business results, with a particular focus on innovation and financial sector solutions;

• Within MIGA, ensuring close collaboration on current initiatives with colleagues based in the regions and sectors, especially with MIGA’s innovation team;

• Liaising with MIGA’s and the WBG Guarantee Platform’s clients, particularly with global banks and institutional investors to explore new structures, understand regulatory constraints and bankability issues;

• Help in the development and implementation of internal requirements, which includes liaising with other departments within MIGA, associated with a growing business line of sophisticated financial instruments;

• Identifying new business opportunities for MIGA and WB GP using Blended Finance modalities at MIGA’s disposal, among other business development tools;

• Meeting with prospective clients to market MIGA's guarantee products as well as with MIGA partners to better understand the market for political risk insurance and public sector credit risk guarantee solutions in priority areas and to identify new market opportunities for MIGA and the WB GP;

• Supervising and mentoring staff and;

• Advising MIGA's Management Team on business development strategies as needed.

This vacancy is now closed.