ETC - Insurance Regulatory Expert - req37934

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 on a livable planet, increasing shared prosperity and promoting sustainable development.

The WBG Prosperity Vice Presidency is responsible for getting the right public and private sector solutions to our operational teams and to our clients, and to produce scalable impact. It leads the WBG’s key global engagements in support of: Growth and jobs; debt sustainability and debt management; improved domestic resource mobilization and expenditure efficiency; a resilient and inclusive financial sector; business-enabling policies and regulations; trade policy and facilitation; and transparent, effective, and accountable government institutions worldwide.

The Disaster Risk Finance (DRF) team in FSS1 helps client governments strengthen financial resilience to disaster shocks. Through the Disaster Risk Financing and Insurance Program (DRFIP), the team delivers technical assistance, analytical work, and advisory support, drawing on the World Bank’s crisis preparedness and response toolkit and other financial instruments.

The DRF team also contributes to international regulatory discussions through the G7, G20, the International Association of Insurance Supervisors, and the Network for Greening the Financial System (NGFS). In this context, the team is seeking an Extended Term Consultant (ETC) to provide senior-level technical advice and engagement in support of the Unit’s work on insurance regulatory and supervisory approaches and insurance market development.

Duties & Responsibilities:

• Lead or contribute to work on insurance regulatory, supervisory, and market practices, including supporting or leading country-level engagements through relevant financing operations and advisory and knowledge activities.
• Develop, curate, and share knowledge on insurance market development, including key bottlenecks, emerging global trends, the integration of insurance into climate risk management, insurance technology, relevant case studies, and financial innovations for client countries.
• Participate in Financial Sector Assessment Programs (FSAPs) and prepare Insurance Core Principle (ICP) reviews, technical notes, and other policy notes as needed.
• Collaborate with international insurance organizations, including the International Association of Insurance Supervisors (IAIS), Sustainable Insurance Forum (SIF), European Insurance and Occupational Pensions Authority (EIOPA), Organization for Economic Co-operation and Development (OECD), Insurance Development Forum (IDF), and others.
• Represent the CDRFI team in stakeholder consultations, interagency coordination forums, workshops, and donor dialogues, as needed.
• Perform other duties and tasks assigned by the unit manager.

The initial appointment will be for one year, with the possibility of renewal for up to an additional two years, subject to business needs, funding availability, and satisfactory performance.

Selection Criteria:

• Master’s degree in economics, finance, law or equivalent.
• Minimum 12 years insurance regulatory/supervisory and market knowledge and experience of insurance system reform, regulation/ supervision framework.
• Policy level engagement with governments/ industry bodies/ regulators, with experience within insurance supervisory authorities.
• Knowledge of climate risk and investment opportunities relating to insurance sector would be an advantage.
• Experience of working with international organizations (such as IAIS, EIOPA, OECD, IDF) an advantage.
• Proven ability to manage multiple tasks effectively, set priorities independently, and deliver agreed results.
• Strong interpersonal skills and demonstrated ability to work in teams, lead small teams, and foster collaboration across organizational boundaries.
• Fluency in written and spoken English. Spanish or French language skills would be an advantage.

WBG Culture Attributes:

• Sense of urgency: Anticipate and quickly respond to the needs of internal and external stakeholders.
• Thoughtful risk-taking: Challenge the status quo and push boundaries to achieve greater impact.
• Empowerment and accountability: Empower yourself and others to act and hold each other accountable for results.

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.