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Financial Sector Specialist

Job #: req26900
Organization: World Bank
Sector: Financial Sector
Grade: GF
Term Duration: 4 years 0 months
Recruitment Type: Local Recruitment
Location: Abuja,Nigeria
Required Language(s): English
Preferred Language(s):
Closing Date: 4/30/2024 (MM/DD/YYYY) at 11:59pm UTC



Do you want to build a career that is truly worthwhile? Working at the World Bank provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank consists of two entities – the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). It is a global development cooperative owned by 189 member countries. As the largest development bank in the world, the World Bank provides loans, guarantees, risk management products, and advisory services to middle-income and creditworthy low-income countries, and coordinates responses to regional and global challenges. Visit

The World Bank’s Finance, Competitiveness & Innovation (FCI) Global Practice combines expertise in the financial sector with expertise in private sector development to foster private sector led growth and help create markets in client countries. We structure and implement comprehensive financial sector and private sector solutions that bring together World Bank knowledge, financial products (loans, credits, guarantees, and risk-management products), convening services, and advisory services.

The FCI program in Africa West and Central is rapidly growing, especially in Nigeria – which is overall the largest World Bank country program in Africa - and covers a range of existing and potential pipeline lending operations, analytical work and technical assistance and advisory support.

The Financial Sector team of FCI engages with policy, regulatory making bodies and stakeholders in the financial industry of member client countries to facilitate dialogue, reforms and/or interventions that lead to stable, inclusive, deep, efficient and resilient financial systems. The team’s core lines of business is comprised of four thematic areas:

(a) Financial Stability & Integrity;

(b) Financial Inclusion, Infrastructure & Access;

(c) Long-Term Finance; and

(d) Crisis and Disaster Risk Finance. For more information, please visit

Key priorities in Nigeria’s financial sector development program are on supporting macro-financial stability, strengthening financial system integrity, addressing access to finance barriers for MSMEs, promoting financial inclusion, catalyzing private capital and unlocking long-term finance in the real economy.


This recruitment is for a Financial Sector Specialist based in Abuja, Nigeria with a reporting line to the Regional FCI Practice Manager (EAWF2). The focus of the role is on buttressing financial stability and integrity within Nigeria’s financial systems with potential responsibilities in the broader financial sector work program and elsewhere in the West Africa unit sub-region.

Amongst other tasks, the selected candidate will be expected to:

  • Monitor and identify potential sources of systemic risk in the Nigerian financial system, with a focus on the banking and securities market. This requires both qualitative and quantitative systemic risk monitoring, in particular quantitative analysis leveraging large, granular proprietary datasets and harnessing market intelligence. It also entails the tracking and analysis of banking regulations issued by CBN from time to time. These analyses feeds into policy discussions at the highest levels and is a core component of the World Bank’s semi-annual Nigeria Development Update.
  • Undertake regular review of the financial safety net and crisis management frameworks in the country to identify changes that may be needed as the sources of risks evolve and in adapting best practices and standards that may be issued by international standard setting bodies, drawing on the expertise of FCI’s global teams, as necessary.
  • Provide technical support in rectifying existing Anti-Money Laundering/Terrorist Financing (AML/CFT) deficiencies in the country.
  • Support quality implementation of ongoing FCI lending operations, analytical and advisory services work.
  • Work closely with FCI’s focal point for financial sector development, program leaders/country economists and the country management unit (CMU) to ensure the integration of relevant financial stability and integrity issues in country strategies such as Systemic Country Diagnostic, Country Partnership Framework, Country Private Sector Diagnostic.
  • Produce technical notes, briefings, presentations, etc. as requested by management.

Selection Criteria

  • Master’s degree in the areas of finance, business, management, economics, or related discipline. Central Bank experience is an added advantage.
  • At least 5 years of relevant professional experience with a focus on macroprudential policies, financial stability, systemic risk assessment and financial regulation and supervision.
  • Knowledge and experience of policy and regulatory reforms related to financial sector development in emerging markets.
  • Strong understanding of stakeholders in the financial sector landscape in Nigeria across policymakers, regulators, market participants, and users.
  • Strong skills in conducting policy analysis, identifying policy reforms, and implementing policy actions across financial stability and integrity.
  • Solution-oriented approach focusing on problem-solving and achieving results.
  • Ability to operate effectively in a matrix management environment, both as a team leader and team member.
  • Ability to deal sensitively in multi-cultural environments and build effective working
  • Relations with clients and colleagues.
  • Effective verbal and written communication skills.

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.