Underwriter - req37897

MIGA; Washington (District of Columbia); On-site; USD 140,000 - 190,000; Full time

Job summary

MIGA, a World Bank Group member, is seeking an Underwriter in Washington, DC. The role focuses on leading transaction teams, underwriting guarantee transactions, and origination support within the Platform’s full product line and across regions and sectors.

A strong client orientation and experience in project finance or political risk insurance is preferred. The role reports to the GTT Manager and may involve decentralization.

Responsibilities

• Lead transaction teams through underwriting and approval processes.
• Conduct sector and project risk assessments and financial analyses.
• Develop and use complex financial models to assess investment viability.
• Collaborate with risk and credit officers on risk mitigation and analysis.
• Negotiate guarantee terms and structures with clients and advisors.

Job description

Underwriter

Job #: req37897
Organization: MIGA
Sector: Investment
Grade: GF
Term Duration: 3 years 0 months
Recruitment Type: International Recruitment
Location: Washington, DC,United States
Required Language(s): English
Preferred Language(s): French, Spanish
Closing Date: 8/18/2026 (MM/DD/YYYY) at 11:59pm UTC

Description

Build a career with impact. Working at the World Bank Group (WBG) provides a unique opportunity to help countries solve their greatest development challenges. As one of the largest sources of funding and knowledge for developing countries, the WBG is a unique partnership of five global institutions dedicated to ending poverty, increasing shared prosperity, and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, the WBG works 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.
The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group with a mission to promote foreign direct investment into developing countries to help end extreme poverty and boost shared prosperity on a livable planet. MIGA houses the World Bank Group (WBG) guarantee platform which brings together products and experts from the World Bank, International Finance Corporation (IFC), and MIGA for simplicity, efficiency, and speed. MIGA serves as a one-stop shop for all WBG guarantee business, providing the best guarantee solutions for clients to meet project needs and development priorities. The platform provides three types of coverages: credit guarantees for loans to the public or private sector; trade finance guarantees for trade finance projects involving public entities; and political risk insurance against non-commercial risks for private sector projects or public-private partnerships. For more information, visit www.miga.org .
In February 2024, the World Bank Group announced a major upgrade to its guarantees business, by establishing as of July 1 2024, the Guarantee Platform (Platform) housed at MIGA. The Platform will deliver improved guarantee access through a unified team of guarantee specialists as well as innovative new guarantee solutions. These new reforms will help position the Platform/MIGA to achieve the goal of tripling annual guarantee issuance to $20 billion by 2030.
MIGA’s Operations Department (MIGOP) leads MIGA’s guarantee business development and origination activities, structures transactions, leads projects through the underwriting and approval process, and manages guarantees portfolio. Within MIGOP, the Global Transaction Team (GTT) is a dedicated team of Analysts, Underwriters, and Senior Underwriters with a focus on underwriting MIGA’s guarantee transactions.
MIGOP is seeking a highly experienced, motivated, and proactive Underwriter with strong project finance, public sector finance, political risk insurance, trade finance and/or structured finance underwriting skills, as well as client and new business origination skills, preferably gained in the energy and general infrastructure or financial sectors.
While reporting to the Manager for GTT, the day to day activities of the Underwriter will focus mainly on leading transaction teams (comprised of individuals from across the Agency/Platform) and underwriting guarantee transactions as the transaction lead. Depending on experience, the activities may also include supporting business origination and transaction structuring activities. Through this role, the underwriter will develop a broad knowledge of the Platform’s guarantee activities by working on transactions across the Platform’s full product line and across regions and sectors (energy and extractives industries, infrastructure, financial institutions, capital markets, manufacturing, agriculture, services, etc.).
Note that this is initially a Washington, DC-based position, however given the regionalization agenda, there is a strong possibility of this position being selected for decentralization. If shortlisted, this will be discussed with you at interview.

Duties And Responsibilities

• Lead a multi-disciplinary transaction team (sector, legal, environment and social, climate finance, reinsurance, gender, integrity, risk, development impact, etc.) through the transaction underwriting and approval process, which includes the organization and coordination of due diligence meetings and missions.
• Conduct sector and project risk assessments, including contractual risk allocation and the technical and commercial viability of the investment project
• Prepare and use complex financial models to, amongst others, analyze the financial viability of the investment project or support credit analysis for credit enhancement transactions
• Work together with the risk management officers to analyze country/sub-sovereign project risks and mitigants and with the credit risk officers to support the analysis of state-owned enterprises (credit profile, institutional capacity, legal status and relationship with the government)
• Collaborate with risk management officers and the transaction team to conduct development impact analyses of investment projects, including assessing the contribution to the host country's development, the broader impact on the industry and the private sector, and the benefits delivered to both direct and indirect stakeholders
• Develop, together with the transaction team, recommendations for the contract of guarantee terms and conditions, including recommendations on appropriate guarantee structures and risk mitigants
• Lead the negotiation of new contracts of guarantee with prospective guarantee holders and/or their advisors, in close coordination with the relevant Team Lead/Sector Manager and MIGA’s Legal Department
• Engage closely with MIGA’s clients, conduct in-country and virtual due diligence meetings with host country government officials, and collaborate with partners (e.g., World Bank, IFC, and other development finance partners)
• Prepare high quality guarantee proposal documents and present them for consideration to MIGA’s Senior Management and Board of Executive Directors
• In close coordination with MIGA Senior/Sector Underwriters, Sector Managers, and Regional Heads, support MIGA’s new business origination and client management efforts aimed at generating a robust pipeline of business
• As required, create and deliver new business origination-focused presentations to sponsors, government officials, state-owned enterprises, financial institutions, specialist industry groups, and forums

Selection Criteria

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