Practice Manager

Practice Manager

Description

The World Bank Group is a unique global partnership of five institutions driven by a bold vision to create a world free of poverty on a livable planet. As one of the largest sources of funding and knowledge for developing countries, we help solve the world’s greatest development challenges. When you join the World Bank Group, you become part of a dynamic, diverse organization with 189 member countries and more than 120 offices worldwide. We work with public and private sector partners, invest in groundbreaking projects, and use data, research, and technology to bring tangible and transformative change around the globe. For more information, visit www.worldbank.org.

VPU Context:

The World Bank Group serves 33 client countries Latin America and the Caribbean Region (LCR). Clients range from large, rapidly growing, sophisticated middle-income clients to IDA countries, small Caribbean states, and one fragile state, and to varying degrees they face three key challenges – low productivity and growth, low quality jobs and low resilience to shocks.The region is tackling these challenges with a strong WBG approach, underpinned by selectivity and complementarity between the value added of public and private arms, and in strong partnership with relevant regional development partners.

A. The challenge of low growth. After recovering lost output, the region is returning to pre-pandemic low growth and productivity scenario. After a solid post-pandemic rebound in economic activity (7.2% and 3.9% growth in 2021 and 2022 respectively), GDP growth returned to the pre-pandemic low growth of around 2.2% in 2023 and 2024, with a medium-term outlook of 2.5%.With an average Gini co-efficient of [0.52] LAC also remains one of the most unequal regions in the world. It is a region where the bottom 50% earn 27 times less than the top 10%. It also represents stark differences in opportunity, a child born today in the poorest 20% quintile in LAC will on average be 17 percentage points less productive than a child born in the richest 20%.

B. The challenge of quality jobs: the need for better quality jobs is paramount, with 6.2% unemployment rates, these low levels mask a deeper issue of job quality. Reflecting stagnating living standards, labor earnings have only grown by 1% or less per year in most countries over the past decade, and some 19% of workers in the region are earning incomes below the poverty line.

•Investing in foundational infrastructure critical to job creation, LAC needs to invest at least 3.1% of GDP in infrastructure investments per year, yet it only invests 2%, which is significantly lower than the world average of 5.4% of GDP. This underinvestment in physical infrastructure, including in key infrastructure sectors (including resilient transport, water, energy etc.) is holding back potential for better jobs. The region is supporting clients by supporting selective transformative infrastructure projects (e.g. urban mobility, regional transport and connectivity).On human infrastructure challenge, firms in the region continue to cite skills shortages (55% of firms in LAC vs 45% in MIC regions) as a key barrier to growth and job creation. A child born in LAC is expected to reach only 56 percent of their productive potential. Three out of four 15-year olds fail basic math proficiency and cannot read adequately. Addressing the human capital gap requires supporting clients in revamping their education and health sect

•The LAC region also needs to foster a predictable, business-enabling policy and regulatory environment. These include ensuring macro stability, eliminating restrictive business regulations in product and factor markets, and improving access to finance, especially long-term capital. Labor market regulations in LAC are noted to be on par with the most restrictive labor market regimes among OECD countries. Further, enforcement of competition policy needs to be supported due to high levels of market concentration in LAC markets: the 50 largest firms in Mexico, Brazil, Colombia, Argentina, Chile have revenues greater than 30% of GDP.At 55% of GDP, domestic credit to the private sector remains much lower than EAP (178%).

•Private capital needs to be appropriately incentivized to support the provision of public goods and investments in key sectors, especially those that have the highest potential to enable and/or create better quality jobs. However, at only 19.8% of GDP, gross capital formation remains lowest among all regions (EAP is at 38% and South Asia at 30%). Private capital mobilization in the region is being held back by shallow capital markets, lack of long-term finance, high cost of capital, regulatory and institutional barriers (including in PPP frameworks). Based on country contexts, the WBG will support investments in productive clusters (energy/mining, value added manufacturing, agribusiness, tourism, etc) across the public-private spectrum.

C. The challenge of vulnerability to shocks.Building resilience of the countries to shocks, including natural disasters, through contingent financing and other innovative risk management platforms at country and regional levels is critical given the high exposure to climate–related disasters and natural hazards. The Central America and the Caribbean have recurrent hurricanes that have impacts on GDP significantly higher than the regional average of 1.7%. Several countries are experiencing deep, long droughts, increasingly intense storms, and floods that disrupt economic activities and affect livelihoods, with impacts on the most vulnerable populations.

The Role of the Prosperity Practice Group:

The Prosperity Practice Group combines expertise in finance and private sector development, macroeconomics, fiscal policy, taxation, governance, anticorruption, procurement and poverty among other areas. The Prosperity program in LAC includes an FY26 lending program of 20 operations for over $5 billion in new commitments, an active project portfolio of 41 operations with $11 billion under implementation, and a dynamic program of more than 40 advisory services and analytics (ASA) across all Prosperity sectors

The Latin America & Caribbean region (LAC) is seeking a Practice Manager for the Governance – Financial Management unit (ELCG1) within Prosperity’s’ Practice Group, reporting to the Regional Director. The ELCG1 Practice Manager will be based in Washington D.C.

Unit Context

The Financial Management (FM) unit of the GGP in LAC has the following key functions: (i) carrying out high quality financial management services (i.e. project preparation and implementation support) in Bank-financed operations and advancing the use of country Public Financial Management (PFM) systems to enhance development effectiveness, working collaboratively with other Global Practices (GPs) and regional and corporate Bank units; and (ii) supporting partner countries in developing their professional accountancy institutions, and corporate financial reporting performance (including accounting and auditing standards).

Duties and Responsibilities

The PM manages a team of professionals that is responsible for financial management of the WB portfolio in LAC and also advising client governments on associated country systems. The PM is charged with the oversight of the unit program/portfolio of FM operational services delivery for the entire region.Specifically, the PM is accountable for:

•Developing and providing direction to FM team members (mostly decentralized in different countries within CMUs) to resolve any country portfolio/work program issues which may impact the operational FM services to deliver on-time and with quality the preparation of pipeline projects and provide implementation support.

•Providing strategic leadership for governance-related analytical work and core ASA (i.e., SCDs, PERs, CPFs, CEMs) and extended ASAs (i.e., fiduciary reviews, ROSCs) on topics linked to financial management, accounting, and auditing to the unit staff, ensuring team contributions are deliver timely and with quality; continue growing the practices’ business lines on supreme audit institutions (analytical, operational, RAS)

•Leading and supporting the team’s dialogue with relevant external counterparts, other multilaterals (i.e., IDB, CAF), donor community, private sector entities, government officials as well as civil society, as appropriate and required to support business development within the regional and governance strategic priorities.

•Provides strategic guidance for the organization of learning and outreach events and programs, both global and regional.

•Building high-performing teams with the right skill sets and talent, manage staff's performance, mentor/ guide staff on their career paths; manage workloads of individual staff and teams to ensure balance across the unit.

•Playing a critical role in WPA exercise to secure budget for portfolio operational services on fiduciary assurance and manage the budget efficiently and with full compliance to Bank rules, strategically allocating resources, and ensuring that burn rates are tracked.

•Fostering collaboration among team members and across Prosperity teams, and in GOV (i.e., public sector and procurement teams) to find integrative governance solutions for clients.

•Creating space for innovation in Governance work (including fiduciary assurance business line) and join global conversations to develop cutting-edge knowledge.

•Working in partnership with other PMs and PLs in the GP, and with other GPs, as well as with OPCS, LEG and WFA, to find tailored and holistic solutions to complex project implementation arrangements and other risk challenges in project design and implementation, as needed.

•Inspiring technical excellence within the team and the GP by creating an environment of learning and innovation that attracts and develops the best talent reflective of the diversity of our clients.

•Supports GP management in developing and implementing appropriate strategies for global staffing, deployment, talent, and performance management.

The PM will collaborate across technical, geographic, and institutional boundaries to help design and deliver development solutions to a diverse range of clients, while supporting global knowledge flows that share knowledge and practical development experience with other countries, assuring that global lessons are reflected in the Bank-supported programs.

The PM is a member of Prosperity’s Practice Management regional Team and coordinates closely with the other Prosperity Practice Managers, Prosperity Program Leaders and the Regional Management Teams. The PM is also a member of the GGP Talent Board to oversee the strategic staffing, career development and deployment of GP staff across the Bank.

Selection Criteria

•Master’s degree in a relevant field (e.g., accounting, finance, public financial management, public policy, or another related field) with a minimum of 12 years relevant professional experience.

•A qualified professional accountant (CPA, CA, ACCA or equivalent membership of an internationally recognized professional accountancy body)

•Robust experience and demonstrated technical knowledge in the use of country PFM systems for projects and corporate financial reporting.

•Proven ability to balance fiduciary oversight mandate with focus on institutional strengthening and capacity building and dialogue with clients at the country level.

•Strong Knowledge and understanding of international financial reporting and auditing standards and their implementation including institutional frameworks and issues affecting regulatory frameworks, the development of national standard-setting and audit regulation, and the accountancy profession.

•Excellent leadership and supervisory skills with established track record managing multi-location and virtual teams.

•Strong sense of strategy, including ability to prioritize and exit some activities, track record in streamlining and rationalizing product offerings.

•Good partnership experience, including involving multiple stakeholders – both public and private – in building collaborative alliances for results.

•Strong written and verbal communication skills in both English and Spanish.

WBG Managerial Competencies

WBG Culture Attributes:

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.

World Bank Group Core Competencies

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

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.

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