Operational Due Diligence Officer

Operational Due Diligence Officer

Description

At the World Bank, a member of the World Bank Group (WBG), you’ll join a diverse, global community working across cultures, disciplines, and borders to address the world’s most pressing development challenges. With 1.2 billion young people reaching working age in the decade ahead, the challenge of job creation has never been greater. Through partnerships across 145 countries and more than 182 offices worldwide, we work with governments, private sector, development partners and other stakeholders to invest in people, strengthen markets, and deliver scalable, data-driven solutions that generate more and better jobs and improve lives. For more information, visit https:// www.worldbank.org/en/who-we-are/ibrd
The Pension and Endowments Department (PEN) is responsible for the financial management and administration of the World Bank Group's funded benefit plans. Its responsibilities include asset management and actuarial support. PEN manages approximately US$48 billion across a range of asset classes, including fixed income, public equities, private equity, real assets, absolute return, and credit strategies. The Pension Finance Committee, appointed by the World Bank Group President and chaired by the Chief Financial Officer, oversees the financial management of the plans. PEN also provides technical assistance on multi-asset investment management to pension plans, endowments, and funds for the future, and manages the Pension Administration function. PEN identifies, selects, evaluates, and monitors investments through external managers globally.

The Pension Middle Office team (PENMO) supports these investment activities through pension plan operations, financial reporting, investment performance and attribution, exposure monitoring, investment asset pricing and valuation, third-party client reporting, and operational due diligence (ODD).
The World Bank Group is committed to achieving diversity in terms of race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.

The Operational Due Diligence Officer will work within a collaborative team to deliver timely, high-quality operational due diligence reviews and ongoing monitoring across asset classes. The role includes reviewing audited financial statements, investment activity reports, Form ADV filings, and other relevant information; maintaining current review records; and supporting risk-based oversight of investment managers and external ODD providers.

Duties and Accountabilities
• Evaluate the overall quality of investment managers' organizations, including accounting, valuation, reporting, audit, regulatory compliance, and operational and IT infrastructure, to assess the control environment and ensure the proper safeguarding of Pension Plan assets.
• Identify operational (non-investment) risk factors and recommend measures to mitigate those risks based on reviews of investment managers' and funds' legal, financial, and other documentation.
• Manage relationships with strategic external operational due diligence providers, when used, including oversight of deliverables, review and challenge of findings, risk assessments, prioritization of reviews, and integration of results into the Pension Plans' operational due diligence framework.
• Conduct and participate in onsite and virtual operational due diligence reviews of investment managers, including meetings with senior management, documentation of findings, and follow-up on identified risks and action items.
• Synthesize review results into comprehensive written reports that highlight key risks and analyze the operational environment of prospective investments.
• Present operational due diligence review results to investment committees, explaining findings with reference to industry best practices, regulatory requirements, and limited partnership agreements.
• Establish and maintain relationships within the investment management industry to remain informed of market developments, industry trends, and regulatory matters that could affect investment managers.
• Advise on operational matters relating to hedge funds and alternative investments, including private equity, private credit, and real assets. Areas may include client reporting, valuation, performance measurement, fund administration, and detailed reviews of valuation methodologies and processes.

Selection Criteria

• Master's degree in Accounting, Finance, or a related field, with at least five years of relevant professional experience, or an equivalent combination of education and experience.
• Candidates must have a minimum of two years of relevant operational due diligence experience supporting a multi-asset portfolio, including alternative investments.
• Working knowledge of investment manager operations, investment concepts and terminology, accounting, internal controls, operational due diligence, and regulatory compliance.
• Demonstrated quantitative and qualitative analytical skills, strong technical proficiency, and an ability to use AI and other emerging technologies would be an advantage.
• Strong organizational and analytical skills, with a process-oriented mindset, attention to detail, critical-thinking ability, and an interest in solving complex problems.
• Excellent interpersonal, written, verbal, and presentation skills, with the ability to work collaboratively with internal and external stakeholders.
• A high degree of intellectual curiosity and proficiency in data analysis, research methodologies, valuation concepts, and financial reporting.
• A high level of initiative, self-confidence, and self-motivation, with the ability to apply a practical and mature approach to problem-solving with minimal supervision.
• Commitment to working in a respectful, team-oriented, and multicultural environment, together with willingness to travel for manager reviews, training, and team projects, as required.
• Commitment to the highest ethical standards.

Competencies
• Operational Due Diligence and Risk Assessment: Evaluates investment managers' operational infrastructures, identifies and communicates key operational risks relating to governance, control, compliance, valuation, and reporting frameworks.
• Operational Risk and Control: Applies risk management principles, internal control concepts, regulatory requirements, and industry practices when evaluating investment managers and service providers.
• Client Orientation: Builds effective working relationships with internal stakeholders, investment managers, service providers, and external consultants and demonstrates responsiveness, sound judgment, and professionalism.
• Drive for Results: Takes ownership of assigned reviews and monitoring activities and delivers high-quality analysis, reports, and recommendations within agreed timelines.
• Teamwork, Collaboration, and Inclusion: Collaborates effectively across investment, operational, legal, compliance, and risk functions while fostering an inclusive and respectful working environment.
• Knowledge, Learning, and Communication: Conducts research, synthesizes complex information, prepares clear and well-supported reports and presentations, and contributes to continuous improvement of the operational due diligence framework.
• Business Judgment and Analytical Decision Making: Applies analytical thinking, professional skepticism, and sound judgment to assess operational risks, challenge assumptions, evaluate external provider findings, and formulate practical recommendations.

As the World Bank Group continues to evolve, we value candidates who:

• Demonstrate the ability to collaborate effectively across teams, disciplines, cultures, and institutional boundaries.
• Responsibly leverage digital and AI-enabled tools to enhance productivity, learning, and decision-making.
• Bring experience working in fragile, conflict-affected, and violent (FCV) contexts and are encouraged to highlight relevant experience in their application materials, where applicable.

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

WBG Five Managerial Competencies Include only for managerial positions

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.