Valuation Officer
The World Bank Singapore Office Singapore
Description
Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org
The office of the Chief Risk Officer (CRO) is responsible for leading the risk management function for IBRD and IDA, with oversight responsibility for financial and operational risks including policy formulation, measurement, monitoring and reporting. The CRO works closely with other risk units in the Bank Group to address cross-cutting issues, support innovation in a sustainable manner and share best practices. It also fosters collaboration in risk management across other MDBs. CRO plays a key role in capital structure and interaction with rating agencies as well as internal and external auditors and Board communication on risk matters. It consists of Country Credit Risk Department (CROCR), Market and Counterparty Risk Department (CROMC), and Operational Risk Department (CROOR).
The Market & Counterparty Risk Directorate (CROMC) focuses on oversight of risk in four main areas:
1. Market risk, which covers ALM, interest-rate, spread (funding and investments) foreign-exchange risk, and the availability/cost of, or access to, ready liquidity and long-term funding.
2. Counterparty (i.e., no sovereign-lending) Exposure & Liquidity risk, which includes risks to IBRD resulting from changes in creditworthiness of IBRD’s commercial/derivative counterparties, and MTM/liquidity risks of the treasury investment portfolios.
3. Model risk, which covers financial-risk (capital, risk, income, etc.) models, across the WBG excluding IFC, in terms of model, risk, and governance.
4. Valuation & Analytics (CROVA), which includes validation and verification of pricing/valuation models & market data, and independent price verification (IPV) of fair-May products.
The Valuation & Analytics group (CROVA) is responsible for several quantitative and financial functions relating to IBRD and IDA (commonly referred as “The World Bank”). These functions includes, but are not limited to, the following:
a) Validation of pricing model, curve construction and market data used to value financial instruments of The World Bank (WB)
b) Pricing model verification and enhancement of the implementation of the models, curve construction and market data deployed at the World Bank for valuation of financial instruments.
c) Independent price verification and quantitative analytics of the issuance, derivatives, loans and commitments portfolio of The World Bank
d) Review of internal valuation standards and practices to ensure market alignment
e) Generating and monitoring of financial indicators, Greeks, MTM movements attribution and analysis
f) Liaising with multi-stakeholders to support and facilitate innovative and bespoke solutions and financial instruments.
g) Liaising with auditors on aspects related to model valuation and verification, financial markets and impact on WB portfolios and Independent Price Verification
The group is co-located in Singapore and Washington DC (WB Headquarters). The current position is based in Singapore and subject to local hire terms.
Duties/Accountabilities:
CROVA is looking for highly motivated and dynamic individuals for the position of Valuation Officer. The candidates should be experienced Quantitative professional, with expertise in pricing models, market practices, valuation review, and responsible for validating key financial instrument portfolios. The job requires client oriented individuals providing proactive, customized and innovative solutions. A mix of quantitative and finance experience is required.
Specific tasks of the Valuation Officer include:
Selection Criteria
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Note: If the selected candidate is a current World Bank Group Staff Member with a Regular or Open-Ended appointment, they will retain their Regular or Open-Ended appointment. If the selected candidate is a current World Bank Group Staff Member with a Term appointment that expires later than the end date of this appointment, they will retain the duration of their current Term appointment.
Job ID Req27151