Senior Investment Specialist
Background
The World Bank is helping to strengthen national efforts to reduce poverty and vulnerability by supporting the Government of Indonesia in making informed and evidence-based policy and program decisions. Support is channeled through a multi-donor trust fund, the Partnership for Knowledge-based Poverty Reduction, in three ways: i) providing poverty analytics and building analytical capacity to inform poverty and social protection policies, programs and strategies; ii) supporting the government in the design, implementation and evaluation of key poverty and social protection programs; and, iii) improving the quality and accessibility of data required for poverty analysis and policymaking. This trust fund is used to provide technical assistance and policy advice, carry out analytical work, and provide
grants to non-government think tanks and research institutions. Under this program, the World Bank is helping the government to implement its vision for a national social security system covering all Indonesians. The system will include universal coverage for health, pension, old age savings, death benefits and work accident. As part of this effort, the Bank is helping the government to: i) design and price the new social security programs; ii) transform existing social insurance institutions into national social security administrators; iii) establish a strong system of governance, oversight, supervision and control; iv) establish robust contribution collection systems and issue unique identification numbers to all system members. The Bank is also working with the government to help it establish the capacity to manage program risks and finances to assure the programs remain solvent and are fiscally sustainable.
Job description
The primary objective of the Senior Investment Specialist is to assist the government with the development of investment policies, procedures and regulations meeting international standards of best practice for BPJS Ketenaga kerjaan (national social security administrator managing SJSN employment programs) and for the social security funds that they manage.
Background
The World Bank is helping to strengthen national efforts to reduce poverty and vulnerability by supporting the Government of Indonesia in making informed and evidence-based policy and program decisions. Support is channeled through a multi-donor trust fund, the Partnership for Knowledge-based Poverty Reduction, in three ways: i) providing poverty analytics and building analytical capacity to inform poverty and social protection policies, programs and strategies; ii) supporting the government in the design, implementation and evaluation of key poverty and social protection programs; and, iii) improving the quality and accessibility of data required for poverty analysis and policymaking. This trust fund is used to provide technical assistance and policy advice, carry out analytical work, and provide
grants to non-government think tanks and research institutions. Under this program, the World Bank is helping the government to implement its vision for a national social security system covering all Indonesians. The system will include universal coverage for health, pension, old age savings, death benefits and work accident. As part of this effort, the Bank is helping the government to: i) design and price the new social security programs; ii) transform existing social insurance institutions into national social security administrators; iii) establish a strong system of governance, oversight, supervision and control; iv) establish robust contribution collection systems and issue unique identification numbers to all system members. The Bank is also working with the government to help it establish the capacity to manage program risks and finances to assure the programs remain solvent and are fiscally sustainable.
Job description
The primary objective of the Senior Investment Specialist is to assist the government with the development of investment policies, procedures and regulations meeting international standards of best practice for BPJS Ketenaga kerjaan (national social security administrator managing SJSN employment programs) and for the social security funds that they manage.
The consultant will work directly with senior government counterparts in support of the team’s effort to assist the government of Indonesia with implementation of the national social security system under Law No. 40/2004 (the SJSN law) and Law No. 24/2011 (the BPJS Law)
Main Duties and Responsibilities:
The consultant will work with the social protection practice team and others on all accounting aspects of the Bank’s social protection program, focusing initially on:
Main Duties and Responsibilities:
The consultant will work with the social protection practice team and others on all accounting aspects of the Bank’s social protection program, focusing initially on:
- Assisting the government with investment policies and procedures, and the drafting of investment regulations under the national social security system (SJSN) and social security administrative bodies (BPJS).
- Working with Bappenas, the National Social Security Council (DJSN), the Ministry of Manpower and Transmigration, the Ministry of Finance and PT Jamsostek on investment aspects of the SJSN employment programs
- Assisting DJSN and PT Jamsostek with the development of an appropriate investment policy statement, strategic asset allocation, and rules for the hiring, performance review and termination of investment managers
- Assisting DJSN and PT Jamsostek with the drafting of regulations that implement international best practice in the management of assets for the four social insurance funds managed by BPJS Ketenagakerjaan
The primary responsibilities of the Senior Investment Specialist are to:
- Build and sustain effective relationships with senior government officials, line ministries, project implementation units, international development partners and think tanks
- Participate in the policy dialogue on investment of social security fund assets
- Participate in meetings with senior government officials and project implementation units, prepare Power Point presentations and make presentations as required
- Prepare analytical reports for the team leader and the government
- Contribute substantively to advisory work in social protection, and provide inputs to cross-sectoral studies, government strategies, etc.
- Serve as an expert in investment aspects of social protection programs in Indonesia·
- Work with government officials to gather and analyze investment rules and regulations, examine international best practice and develop tailored investment rules for each of the social security funds.
- Coordinate closely with the other teams in the World Bank to identify potential linkages between other programs and their investment rules to assure consistency in the application of investment policies, practices and procedures among similar programs.
The selected candidate will function similarly to staff with priorities and outputs expected to change to fit counterpart demands and priorities. Output will generally consist of just-in-time memoranda, assistance with development of detailed investment rules and regulations for BPJS Ketenagakerjaan and for each of the social security funds it manages, comments on draft regulations and technical documents prepared by the government, analysis of domestic and international experience, and inputs to reports, Policy Notes, and Power Point presentations.
Selection Criteria
This position will be a local hire. It requires an individual with maturity, good judgment and the ability to work well with teams within the Bank and with senior government officials.
Key requirements for this
position include:
- A master’s degree or equivalent in a relevant discipline
- Certified Financial Analyst (CFA)
- Expertise in social security fund investment policies and procedures, particularly with regard to pension funds
- Minimum of fifteen years of relevant work experience. Previous experience with the government, or donor/multi-lateral development agency projects would be highly advantageous
- Familiarity with development, political, social and cultural issues in Indonesia
- Excellent interpersonal skills. Demonstrated ability in managing relationships with senior Indonesian government officials, local organizations and donor agencies is highly desirable
- Excellent English writing and speaking ability
- Function well independently and have the ability to professionally represent the Bank, handle multiple tasks, meet changing priorities and deliver high-quality analysis and work on-time
- Ability to work as a member of a multi-professional team
The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.
The successful candidate for the Senior Investment Specialist position will be offered a Short Term Contract (STC) for 150 days.The Consultant will be based in Jakarta. The expected start date is late February, 2013. The Consultant will report on a day-to-day basis to Senior Social Protection Specialist and will work closely with the Social Protection team and work as a part of the Human Development network located in the World Bank Office Jakarta. The consultant will also work with the Public Sector Management and, as needed, with the Poverty Cluster within the Poverty Reduction and Economic Management (PREM) network in the World Bank Office Jakarta. S(he) will also report to the Country Sector Coordinator
for the Human Development Network.
To apply, please submit a CV (no more than 2-sides long) and cover letter by email to jobsindonesia@worldbank.orgwith the subject “Senior Investment Specialist
Application”no later than February 4th 2013.
The successful candidate for the Senior Investment Specialist position will be offered a Short Term Contract (STC) for 150 days.The Consultant will be based in Jakarta. The expected start date is late February, 2013. The Consultant will report on a day-to-day basis to Senior Social Protection Specialist and will work closely with the Social Protection team and work as a part of the Human Development network located in the World Bank Office Jakarta. The consultant will also work with the Public Sector Management and, as needed, with the Poverty Cluster within the Poverty Reduction and Economic Management (PREM) network in the World Bank Office Jakarta. S(he) will also report to the Country Sector Coordinator
for the Human Development Network.
To apply, please submit a CV (no more than 2-sides long) and cover letter by email to jobsindonesia@worldbank.orgwith the subject “Senior Investment Specialist
Application”no later than February 4th 2013.
