Innovation and partnership bond the five institutions of the World Bank Group (WBG): the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. It uses financial resources and extensive experience to help poor nations reduce poverty, increase economic growth, and improve the quality of life. The World Bank Group’s work focuses on achievement of the eight Millennium Development Goals (MDGs). The goals call for eliminating poverty and achieving inclusive and sustainable globalization. The MDGs lay out a blueprint for the World Bank Group, setting its priorities and measuring its results. The World Bank is the world’s largest funder of education; the world’s largest external funder of the fight against HIV/AIDS; a leader in the fight against corruption worldwide; a strong supporter of debt relief; and the largest international financier of biodiversity, water supply, and sanitation projects.
Department Context:
The World Bank Treasury (“Treasury”, TRE) is the Vice Presidency performing treasury functions for the IBRD and for other members of the World Bank Group. Its activities are organized and grouped along three segments: asset management, banking and debt management, and capital markets services. Treasury has been a large and significant player in the international financial markets for more than fifty years and has achieved a global reputation as a prudent and innovative borrower, investor and risk manager. Treasury is responsible for: i) managing more than $130 billion in assets for the World Bank and other official-sector investors; ii) leading the World Bank’s financing program in international and domestic bond and derivatives markets; iii) conducting asset and liability management for the World Bank’s balance sheet; iv) overseeing the development and outreach related to the financing and hedging products the Bank provides for its developing-country clients; and v) collaborating with World Bank member countries to help build their capacity.
The Investment Management Department (IMD) manages more than US$100 billion of liquidity and fixed income portfolios for the IBRD, IDA, MIGA, Trust Funds, other international institutions and some central banks. IMD is also responsible for leading and participating in professional collaborations in reserves management with central banks and other official sector institutions.
***The World Bank Group is committed to achieving diversity in terms of race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply. ***
Accountability:
The Portfolio Manager will join the IMD Paris Team, located in the Paris office, consisting of five portfolio managers. As an integral part of the team, s/he will contribute to the assessment and implementation of relative value money market, repo financing and foreign exchange hedging strategies for all client portfolios within their approved risk limits and investment guidelines. A critical feature of the Portfolio Manager’s role will be the transmission of market information to colleagues, clients and IBRD management in a timely and transparent manner, both informally and through regular reports.
Principal Accountability:
The Portfolio Manager will be accountable for the investment returns of assigned portfolios and performance versus market benchmarks. In addition, his/her responsibilities will include, but not limited to, the following:
• Engaging in day-to-day money market operations for assigned portfolios;
o Placing Time Deposits in non-USD markets
o Financing non-USD bond portfolios through Repos
o Execution of spot FX and forwards
o Monitoring cash flows
• Actively looking for money market opportunities to enhance returns for the non-USD portfolios;
• Developing trading techniques for new money market products;
• Gathering and analyzing current market information to gauge investment opportunities;
• Presenting and communicating market and sector information, portfolio strategy and performance in periodic reports and strategy meetings;
• Maintaining excellent relations with external counterparts, and promoting the reputation of the Bank in financial markets and among its clients;
• Developing and participating in professional collaborations with official sector reserves managers and related seminars.
Portfolio Manager - Paris, France
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