Senior Underwriter
Job #:
req34089
Organization:
MIGA
Sector:
Operations
Grade:
GG
Term Duration:
3 years 0 months
Recruitment Type:
Local Recruitment
Location:
Seoul,South Korea
Required Language(s):
English & Korean
Preferred Language(s):
Closing Date:
9/2/2025 (MM/DD/YYYY) at 11:59pm UTC
Description
The Multilateral Investment Guarantee Agency (MIGA or Agency) is a member of the World Bank Group, and our mission is to promote foreign direct investment (FDI) into developing countries to help end extreme poverty and boost shared prosperity on a livable planet. We do that through the provision of political risk insurance and public sector credit guarantees to investors and lenders against losses caused by noncommercial risks. For more information, visit www.miga.org.
In July 2024, the World Bank Group launched the WBG Guarantee Platform (WB GP), a major upgrade to its guarantees business, that will deliver improved guarantee access through a unified team at MIGA as well as innovative new guarantee solutions. These new reforms will help position MIGA to achieve the goal of tripling annual guarantee issuance to $20 billion by 2030.
In an effort to identify project opportunities for MIGA as related to foreign investment flows from Korea, MIGA’s Guarantee Operations Group (MIGOP) is currently looking for a Senior Underwriter and MIGA’s Country Representative to be based in Seoul, the Republic of Korea.
S/he will primarily report to Head of East-Asia and Pacific (EAP) with the responsibility to support both the Financial Institutions Group (FIG) and Industries sectors in all areas including new business development pipeline and portfolio management and meeting regional business targets.
Duties and accountabilities:
In July 2024, the World Bank Group launched the WBG Guarantee Platform (WB GP), a major upgrade to its guarantees business, that will deliver improved guarantee access through a unified team at MIGA as well as innovative new guarantee solutions. These new reforms will help position MIGA to achieve the goal of tripling annual guarantee issuance to $20 billion by 2030.
In an effort to identify project opportunities for MIGA as related to foreign investment flows from Korea, MIGA’s Guarantee Operations Group (MIGOP) is currently looking for a Senior Underwriter and MIGA’s Country Representative to be based in Seoul, the Republic of Korea.
S/he will primarily report to Head of East-Asia and Pacific (EAP) with the responsibility to support both the Financial Institutions Group (FIG) and Industries sectors in all areas including new business development pipeline and portfolio management and meeting regional business targets.
Duties and accountabilities:
- Build a strong project pipeline for WBG guarantees’ business out of Korea and EAP region, and follow up on project leads generated in Korea, and, where appropriate, lead the guarantee underwriting work for transactions opportunities;
- Develop a strong client base among companies and banks involved in Korean outward as well as other EAP outward / EAP inbound investment activities through an extensive outreach program, with the objective to establish long-term client relationships and a strong project pipeline;
- Serve as MIGA’s Representative to Korea and primary counterpart for World Bank and IFC engagements in Korea, closely coordinate with the WBG Country Manager for Korea, with a primary responsibility for maintaining strong working relationships with relevant Korean ministries such as Ministry of Economy and Finance, Ministry of Trade, Industry and Energy, and Ministry of Land, Infrastructure and Transport so as to facilitate cooperation including trust funds management, participation in overseas investment-related events, and exchange of information;
- Develop strong institutional partnerships with relevant Korean financial institutions such as Korea EXIM Bank, K-SURE, Korea Development Bank, etc., to identify Korean investors and specific Korean overseas investment projects where MIGA guarantees could add value;
- Identify overseas investment-related conferences or fora that may be appropriate for MIGA participation. Contribute to any other business development initiatives as agreed with MIGA Vice President and Directors of Operations;
- Assist in the formulation, monitoring and updating of MIGA Korea strategy, working in conjunction with Head of EAP, HQ-based FIG/Industries Teams, and Country Management Units of the World Bank and IFC;
- Assist in the development and dissemination of Asia region-specific market intelligence and MIGA priority sector insights;
- Work with MIGA staff to facilitate mission travels to Korea. Examples of specific activities to be undertaken include identifying appropriate counterparts, arranging appointments with representatives of the private and public sectors, and providing general local support to visiting MIGA colleagues; and
- Manage and mentor other MIGA staff / consultant(s) in the MIGA Korea Office.
Selection Criteria
- MBA or master’s degree in finance, Economics, International Business or related areas;
- A minimum of 8-10 years of political risk insurance / project investment risk execution, technical corporate / trade / structured / project finance, commercial / investment banking experience, part of which secured in Korea;
- Knowledge of FDI and South-South investment as well as Korean outward investments, with strong local industry and/or government network is desirable;
- Knowledge of / experience with MIGA or WBG and its investment guarantee products, and underwriting process is desired;
- Sound knowledge of business, accounting, contractual and corporate financial practices and policies;
- Excellent financial, credit and political risk analysis skills;
- Strong ability for marketing and business development, and sound business judgment in identifying potential partners and investment opportunities;
- Ability to interact directly and independently with the senior management of potential clients, of financial and technical partners as well as senior government officials;
- Excellent organizational skills, a strong sense of initiative, resourcefulness, and the ability to work effectively under minimal supervision; and
- Fluency in spoken and written English and Korean is essential.
Please review World Bank Group Core Competencies at GG level for more details
WBG Culture Attributes:
1. Sense of Urgency – Anticipating and quickly reacting to the needs of internal and external stakeholders.
2. Thoughtful Risk Taking – Taking informed and thoughtful risks and making courageous decisions to push boundaries for greater impact.
3. Empowerment and Accountability – Engaging with others in an empowered and accountable manner for impactful 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.
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