WBG Director, Pension Department

WBG Director, Pension Department

Job #: req37766 Organization: World Bank Group Sector: Other Grade: GI Term Duration: 4 years 0 months Recruitment Type: International Recruitment Location: Washington, DC,United States Required Language(s): English Preferred Language(s): Closing Date: 8/10/2026 (MM/DD/YYYY) at 11:59pm UTC

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 182 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

The Pension Department (PEN) is responsible for the management of the post-retirement benefit Plans of the World Bank Group. PEN fulfills its fiduciary mandate under a strong governance framework established by the World Bank Group, under the oversight of the Pension Finance Committee, chaired by the Managing Director & Chief Financial Officer (MDCFO). PEN is part of the WBG Treasury Vice-Presidency. Its activities encompass the key functions related to the management of the Pension Plans and are organized into three teams: Pension Investments (PENIN); Pension Middle-Office (PENMO); and Pension Administration (PENAD). In addition, PEN has a front office team comprising the Chief Actuary for Pension, the Risk Management Team, and administrative and analytical support to the PEN Director. PEN is a department of approximately 90 professional staff who are experts in key aspects of managing a pension plan. PEN manages over $45 billion in assets as of end 2025 and serves over 31,000 Plan participants and beneficiaries.

The Director of the Pension Department and Chief Investment Officer will report to the WBG Vice President and Treasurer and will serve as a member of the Senior Leadership Team, alongside the WBG Directors of the other Treasury Departments and the Manager of Treasury's Risk, Compliance & Controls unit. The Director will be accountable for the overall management of the pension functions, including investment, reporting and risk oversight, and administration.

Duties and Accountabilities

Strategic Leadership and Business Management

•Shapes and drives the Department's business strategy in collaboration with the Pension Finance Committee (PFC), Treasury Senior Leadership Team (SLT), and Finance Partners, directing the work program across PEN's three core teams — Pension Investments (PENIN), Pension Middle-Office (PENMO), and Pension Administration (PENAD) — as well as the front office team, including the Chief Actuary, the Risk Management Team

•Champions the highest fiduciary standards in all decision-making and enforces full compliance with the rules and regulations governing the WBG's post-retirement benefit Plans, under the oversight of the Pension Finance Committee chaired by the MDCFO.

•Establishes and strengthens robust internal controls and processes to manage operational risks, compliance, and business continuity arrangements across all PEN systems and operations.

•Drives delivery of high-quality outputs and reports in a timely manner, instituting rigorous quality control processes to meet the expectations of the Pension Finance Committee, senior management, and Plan participants.

•Anticipates industry trends and technological developments, spearheading adoption of innovations in investment management, pension administration, data analytics, and process automation where strategically warranted.

•Champions operational excellence by pursuing continuous improvements in efficiency through technology, process simplification, and strategic engagement with service providers.

•Represents PEN in WBG-wide task forces, working groups, and committees; leads the response to corporate and external demands on matters related to pension plan management.

•As a member of the Treasury SLT, contributes to the strategic and tactical discussions of the WBG Treasury’s business.

Investment Leadership (CIO function)

•As the Chief Investment