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Lead Underwriter

Lead Underwriter, Washington, United States

Overview: MIGA – Multilateral Investment Guarantee Agency

Do you want to build a truly worthwhile career? The Multilateral Investment Guarantee Agency (MIGA) is a vital member of the World Bank Group. Indeed, our core mission is to promote foreign direct investment into developing countries. Ultimately, this helps end extreme poverty and boost shared prosperity on a livable planet. Therefore, we achieve this by offering political risk insurance and public sector credit guarantees. These, consequently, protect investors and lenders against losses caused by noncommercial risks. For more information, please visit www.miga.org. Furthermore, we are currently seeking a skilled Lead Underwriter to join our team.

Driving Impact: The WBG Guarantee Platform & MIGA’s Growth

In July 2024, the World Bank Group launched the WBG Guarantee Platform (WB GP). This significant upgrade to its guarantees business aims to improve guarantee access through a unified team at MIGA. Moreover, it introduces innovative new guarantee solutions. Consequently, these reforms will help MIGA achieve its ambitious goal: tripling annual guarantee issuance to $20 billion by 2030.

To meet this objective and maximize its development mandate, MIGA prioritizes supporting its developing member countries. Simultaneously, it complements activities of other public and private insurers. Specifically, MIGA’s operational focus areas include: investments in IDA countries; investments in conflict-affected environments; support for complex and innovative deals (especially in infrastructure, extractive industries, and climate change project financing); and support for South-South investments. This is where the expertise of a Lead Underwriter becomes vital.

Remote Lead Underwriter

The Role: Lead Underwriter / Lead Structured Products Specialist

To further develop the Agency’s business and foster innovation within the WB Guarantee Platform in these core areas, MIGA’s Financial Institutions Group (FIG) Operations Department (MIGOP) seeks a Lead Structured Products Specialist. This crucial role, often referred to as a Lead Underwriter, requires extensive financial sector experience in Structured Finance and Capital Markets. Accordingly, the selected candidate will identify new business opportunities for MIGA and the WB GP, achieve business targets, and help grow MIGA’s guarantee business. This Lead Underwriter position is instrumental to our future success.

This position will be based in Washington D.C. Ultimately, the selected candidate will report to MIGA’s Financial Institutions Group Manager.

Key Details

• Job #: req33509
• Organization: MIGA
• Sector: Financial Sector
• Grade: GH
• Term Duration: 4 years 0 months
• Recruitment Type: International Recruitment
• Location: Washington, DC, United States
• Required Language(s): English
• Closing Date: July 31, 2025 at 11:59 PM UTC

Specific Responsibilities of the Lead Underwriter

As a Lead Underwriter or Lead Structured Products Specialist, your responsibilities include, but are not limited to:

Guarantee Development & Structuring

• Leveraging MIGA/WB/IFC public sector guarantee products within the WBG Guarantee Platform. Consequently, this develops structures that mobilize private sector financing through credit enhancement or capital relief in emerging markets. This is a core function of the Lead Underwriter.
• Evaluating, structuring, and negotiating guarantees with counterparties. Specifically, this involves innovative capital market structures and products, special purpose structures, synthetic risk transfers, risk sharing facilities, and debt funds.
• Developing guarantee structures that could enable RWA/capital relief for banks. Ultimately, this supports financial stability.

Collaboration & Business Growth

• Collaborating with other units within MIGA, IFC, and the WBG to deliver high-level business results. Notably, this includes a particular focus on innovation and financial sector solutions.
• Within MIGA, ensuring close collaboration on current initiatives with colleagues based in the regions and sectors. This applies especially to MIGA’s innovation team.
• Liaising with MIGA’s and the WBG Guarantee Platform’s clients, particularly global banks and institutional investors. This, therefore, explores new structures, understands regulatory constraints, and addresses bankability issues. A skilled Lead Underwriter excels here.
• Helping to develop and implement internal requirements associated with a growing business line of sophisticated financial instruments. Furthermore, this includes liaising with other MIGA departments.
• Identifying new business opportunities for MIGA and WB GP using Blended Finance modalities, among other business development tools. Moreover, this expands market reach.
• Meeting with prospective clients to market MIGA’s guarantee products. Also, meeting with MIGA partners to better understand the market for political risk insurance and public sector credit risk guarantee solutions in priority areas. Ultimately, this aims to identify new market opportunities for MIGA and the WB GP.

Leadership & Mentorship

• Supervising and mentoring staff. Hence, this fosters team development. The Lead Underwriter guides junior colleagues.

Selection Criteria for this Lead Underwriter Role

Required Qualifications:

• Master’s degree in financial engineering, economics, or other related areas.
• Minimum 15 years of experience in a top-tier global financial institution or development finance institution (DFI). This extensive background is crucial for a Lead Underwriter.
• Indeed, strong experience in and in-depth understanding of industry trends and related regulatory frameworks.
• Solid track record of delivering sophisticated structured finance transactions. For example, special purpose structures, securitizations, credit derivatives and credit-linked notes, synthetic risk transfers, risk sharing facilities, and debt funds.
• Good network of financial institutions, investment banks, and institutional investors.
• Furthermore, exceptional negotiation, financial, and credit skills. You should demonstrate the ability to structure a variety of sophisticated financial products. This is fundamental for a Structured Products Specialist.
• Excellent management skills with a proven track record of success in developing client relationships and executing client engagements.
• Excellent business judgment and strong analytical and problem-solving skills to identify issues and present creative, practical solutions.
• Demonstrated experience leading teams and a proven track record in delivering high-quality work results.
• Excellent team player, able to mentor and train more junior staff.
• High degree of discretion, ethics, tact, and sensitivity in handling confidential and sensitive information. You must maintain a high standard of personal integrity.
• Excellent oral and written presentation skills in English are required; an additional major language, such as Spanish or French, is desirable.
• Lastly, willingness to travel.

WBG Culture Attributes

1. Sense of Urgency: Anticipating and quickly reacting to the needs of internal and external stakeholders.
2. Thoughtful Risk Taking: Taking informed and thoughtful risks and making courageous decisions to push boundaries for greater impact.
3. Empowerment and Accountability: Engaging with others in an empowered and accountable manner for impactful results.

Benefits & Equal Opportunity

The World Bank Group offers comprehensive benefits. These include a retirement plan; medical, life and disability insurance; and paid leave, including parental leave. It also provides reasonable accommodations for individuals with disabilities.

We are proud to be an equal opportunity and inclusive employer. We have a dedicated and committed workforce. Ultimately, we do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.

Apply now: https://unjobs.org/vacancies/1753133835855

Frequently Asked Questions (FAQs)

Q1: What is the primary focus of this Lead Underwriter role? A1: This Lead Underwriter position focuses on developing and structuring innovative public sector guarantees within the WBG Guarantee Platform, specifically in structured finance and capital markets, to mobilize private sector financing for developing countries. Indeed, it’s a key role for financial innovation.

Q2: What is the required experience for this Lead Underwriter position? A2: Candidates must have a Master’s degree in a relevant field and a minimum of 15 years of experience in a top-tier global financial institution or DFI, with a strong background in sophisticated structured finance transactions. Hence, extensive expertise is crucial for this Structured Products Specialist role.

Q3: What are the key responsibilities related to business development? A3: Responsibilities include identifying new business opportunities for MIGA and WB GP, marketing guarantee products to prospective clients, and understanding market needs for political risk and credit risk solutions. Therefore, it’s a highly client-facing role for our Lead Underwriter.

Q4: Are there any language requirements beyond English? A4: Excellent oral and written English skills are required. However, fluency in an additional major language, such as Spanish or French, is desirable.

Q5: What is the duration and location of this position? A5: This is a 4-year term, and the position is based in Washington, DC, United States. Consequently, it’s a long-term commitment in a key global city.