E T Consultant

At the Multilateral Investment Guarantee Agency (MIGA), 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. 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. MIGA’s guarantees help mitigate risks. In fiscal year 2026, the WBG Guarantee Platform delivered a total of $17.8 billion in guarantees. For more information, visit <https://www.miga.org/> The MIGA Finance and Risk Department (MIGFR), which houses the Credit Team, acts as the custodian of MIGA’s financial integrity with a focus on both income sustainability and balance sheet strength. The Credit Team within MIGFR is responsible for a broad range of analytical and risk management functions that span counterparty credit assessment, portfolio risk oversight, and risk framework governance. On the credit side, the Team assesses the creditworthiness of state-owned enterprises (SOEs) in developing markets where MIGA is considering the provision of credit enhancement under its Non-Honoring of Financial Obligations by State-Owned Enterprises (NHFO SOE) guarantee product, and evaluates the financial strength and credit standing of reinsurance counterparties that MIGA engages to support portfolio risk management and private capital mobilization. In addition, the Team manages MIGA’s risk limit management framework, including setting and monitoring exposure limits across the guarantee portfolio. The Team also serves as the institutional owner of MIGA's broader risk framework, ensuring that policies, methodologies, and risk appetite standards remain current and fit for purpose. In addition, the Credit Team provides dedicated risk support for new products and innovation initiatives, partnering with business development and operational teams to assess and structure emerging guarantee products and solutions. To meet this demand, the Credit Team is seeking an Extended Term Consultant, based in Sao Paulo, Brazil, who will be responsible for assessing, rating, and monitoring the credit risk of state-owned enterprises in developing markets where MIGA considers providing credit enhancement through NHFO SOE products. Duties and Accountabilities A candidate must demonstrate comprehensive technical knowledge of credit risk analysis for counterparts in various industries, acquired in a major financial institution’s credit team and/or credit rating agency for at least 8 years, covering various types of counterparts including corporates and state-owned enterprises. In the above context, the selected candidate is envisaged to: (1) Participate in underwriting teams for new NHFO SOE transactions, providing verbal and written analysis of the credit risk to MIGA resulting from the provision of credit enhancement to SOEs and related lenders under its NHFO SOE product; (2) Conduct credit due diligence on SOE counterparts, including analysis of financial and non-financial risks such as business and operating profile, ownership and government support, governance, liquidity, leverage, and sector and country context; (3) Prepare internal credit assessments and ratings of SOEs, applying MIGA’s established methodologies and drawing on rating agency methodologies, using MIGA’s standardized Word and Excel templates; (4) Recommend appropriate credit risk mitigants, or enhancements, as part of NHFO SOE transactions; (5) Submit and present SOE credit risk analyses to relevant MIGA decision-making committees and project approval meetings, both verbally and in written form; (6) Contribute to documents presenting NHFO SOE transactions to MIGA’s Board of Directors for approval, where applicable; (7) Contribute to the Credit Team’s responsibility for monitoring the credit quality of MIGA’s NHFO SOE portfolio, including periodic and ad-hoc reviews of existing SOE counterparts and flagging early warning signals; (8) Engage with external stakeholders involved in projects (such as lenders and clients) and with MIGA colleagues across Operations, Legal, Economics, and Finance and Risk, as needed; and (9) Prepare handover notes for ongoing transactions and reviews at the end of the assignment, and perform other related credit risk review tasks as assigned.