ETC - Insurance Regulatory Expert - req37934 in London

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. 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.

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 (including supporting teams across the WBG on the jobs agenda); 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 world-wide. Its mandate is to deliver knowledge for impact to enable and support the WBG to achieve its goals in support of our mission.

The FSS Global Department is comprised of two directorates: FSS I covers financial resilience and integrity, financial inclusion, capital market development and disaster risk finance, while FSS II covers SME finance, Banking, Housing, Leasing and Insurance, as well as Sustainable Finance.

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. It works closely with regional and country teams, government counterparts, private sector, development partners to design and implement solutions tailored to each country’s risk profile and institutional context.

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. The position is based in London, UK, and requires frequent travel.

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. This may include co-authoring policy and research notes, preparing internal guidance, developing policy and industry toolkits, and organizing seminars and workshops;
• 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. As per World Bank Group policy, Extended Term appointments are subject to a lifetime maximum of three (3) years.

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. Knowledge and understanding of the World Bank Group operational policies and procedures, portfolio management, operational project management, including risks and mitigation measures would be an added advantage.
• Proven ability to manage multiple tasks effectively, set priorities independently, and deliver agreed results. Self-starter with a high level of initiative;
• Strong interpersonal skills and demonstrated ability to work in teams, lead small teams, and foster collaboration across organizational boundaries;
• Commitment to the highest ethical standards;
• 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.