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 and promoting shared prosperity. 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.
VPU Position Context:
The World Bank Group (WBG) is one of the world’s largest sources of funding and knowledge for developing countries. It uses financial resources and extensive experience to help our client countries to reduce poverty, increase economic growth, and improve quality of life. To ensure that countries can access the best global expertise and help generate cutting-edge knowledge, the WBG is constantly seeking to improve the way it works. Key priorities include delivering measurable results, promoting openness and transparency in development, and improving access to development information and data. In the context of the WBG's broad development agenda, the Legal Vice Presidency (LEG), under the Senior Vice President and Group General Counsel (SVP/GGC), is responsible for providing legal advice and support to internal and external both World Bank and, where pertinent, more broadly WBG clients on operational, advisory, financial, administration, and institutional matters. In addition, LEG helps to ensure that all World Bank activities comply with the Articles of Agreement of all WBG institutions, policies and procedures. Organizationally, LEG includes geographically based regional Operational Practice Groups devoted to the legal and policy aspects of the World Bank's lending and technical assistance operations, and Corporate Practice Groups, which provide advice on corporate finance, policy and partnerships, and administrative and institutional matters.
Practice Group Context:
The LEG Capital Mobilization Practice Group (LEGCM) is, together with the LEG Corporate Finance (LEGFI) Practice Group, part of the LEG Finance team under the oversight of the Deputy General Counsel (DGC), Finance. The LEG Finance team advises on structuring of innovative finance mechanisms and private capital mobilization, and also handles the legal, governance, and policy aspects of the International Development Association (IDA), trust funds, and financial intermediary funds (FIFs), including resource mobilization activities such as IDA replenishments and donor-facing financial and policy matters. The LEG Finance team also jointly manages the legal aspects of the World Bank’s market-facing financial transactions, including bond issuance, risk management transactions, liquid asset investments, pension and benefit plan investments, and new financial products and services.
LEGCM and its staff provide ongoing legal advice, support and expertise in the following core areas:
• Innovative Finance: the design and structuring of innovative finance mechanisms and capital mobilization to leverage public and private capital for the World Bank Group and its partners. These include the World Bank’s balance sheet optimization initiatives such as bilateral member guarantees, market-facing hybrid capital, portfolio guarantees and originate-to-distribute initiatives; World Bank-issued Outcome Bonds, and management of capital markets-facing mechanisms for World Bank partners such as the International Finance Facility for Immunisation, the CIF Capital Markets Mechanism and the Tropical Forests Forever Facility,
• IDA Finance, Policy and Institutional Matters: legal, governance, and policy issues in connection with IDA replenishments and cross-cutting finance and operational matters, including balance-sheet optimization and other finance innovations.
• World Bank-administered Trust Funds and FIFs: trust fund policy, practice and procedural issues in connection with the structuring and negotiating of trust funds and FIFs, the development (in conjunction with the LEG Operational Policy Practice Group - LEGOP) of model forms of trust fund documentation, and the review of trust fund proposals, and drafting and negotiating agreements with donors and recipients.
• WBG Strategies: the development and implementation of WBG finance strategies and their implementation plans.
Responsibilities & accountabilities:
The Chief Counsel reports directly to the DGC Finance and provides intellectual and strategic leadership and advice to the DGC Finance on all matters relevant to LEGCM’s portfolio.
The Chief Counsel will be accountable for performing the responsibilities, modeling behaviors and maintaining the practice group's technical competencies in the Chief Counsel’s capacity as a member of the Legal Department's Management Team. Accountability means being answerable for managing quality, risks, results, institutional initiatives, and compliance with Bank policies and procedures. The Chief Counsel is furthermore accountable for the delivery of the assigned work program.
The Chief Counsel is responsible for coordinating and ensuring the provision of legal advice and support primarily to the WBG Finance Partners on matters within the purview of LEGCM. The Chief Counsel is also responsible for collaborating with other Practice Groups within LEG as well as across IBRD/IDA, IFC and MIGA, with relevant counterparts as appropriate.
The Chief Counsel also coordinates closely with the WBG Capital Markets team in LEGFI for consistency of legal strategies, approaches and messaging with credit rating agencies, investors and other market participants in respect of all capital market activities.
Specific Duties and Accountabilities Include:
• Under the guidance of the DGC Finance, leads LEGCM in carrying out its functions and mandate as described above (see Practice Group Context).
• People/Talent Management accountabilities. Manages LEGCM’s staff, including enabling staff to effectively carry out the assigned work program and actively promoting career development opportunities. Manages and oversees the engagement of technical consultants.
• Resource Management accountabilities. Effectively manages LEGCM’s budget in a resource-constrained environment; ensures effective formulation of the unit’s budget proposal, input into budget decisions and managing the unit's financial resources effectively and efficiently.
• Relationship Management accountabilities (internal and external). Provides ongoing representation of the Bank and outreach to key stakeholders. Keeps the Practice Group abreast of key stakeholder dialogue. Coordinates and collaborates with other development partners to further the aid effectiveness agenda.
• Represents the Practice Group at public and professional fora to help and promote the Practice Group's and LEG's leadership position.
• Knowledge Management accountabilities. Disseminates best practices and lessons learned. Manages the learning and knowledge flows in the Practice Group and supports implementation of VPU-wide knowledge initiatives.
• Contributes to LEG strategic priorities and issues beyond the scope of the Practice Group, actively participates in the development and implementation of LEG’s Business Model.
• Fulfilling all of the above and leading by example with a collaborative, team-oriented, Bank-first, mindset and approach and instilling that approach and values in others.
• Such other or different responsibilities and functions as may be specified from time to time by the DGC Finance or the SVP/GGC.
1. Sense of urgency: Anticipate and quickly respond to the needs of internal and external stakeholders.
2. Thoughtful risk-taking: Challenge the status quo and push boundaries to achieve greater impact.
3. Empowerment and accountability: Empower yourself and others to act and hold each other accountable for results.