WASHINGTON: Anshula Kant, managing director of the State Bank Of India, has been appointed as managing director and chief financial officer of the World Bank, its president David Malpass announced on Friday.

As Managing Director and Chief Financial Officer, Kant will be responsible for financial and risk management of the World Bank Group, reporting to the President.

"I am very pleased to appoint Anshula Kant as World Bank Group Managing Director and CFO. Anshula brings more than 35 years of expertise in finance, banking, and innovative use of technology through her work as CFO of the State Bank of India," Malpass said.

"She's excelled at a diverse array of leadership challenges including risk, treasury, funding, regulatory compliance and operations. I look forward to welcoming her to our management team as we work to increase our effectiveness in supporting good development outcomes," Malpass said.

Among other key management duties, her work will include oversight of financial reporting, risk management, and working closely with the World Bank CEO on mobilization of IDA and other financial resources.

As CFO of the SBI, Kant managed USD 38 billion of revenues and total assets of USD 500 billion. Stewarding the organization, she greatly improved the capital base and focused on the long-term sustainability of SBI within her mandate. She has been a Managing Director and member of the Board since September 2018, the World Bank said.

With direct responsibility for the SBI's Risk, Compliance, and Stressed Asset Portfolio, Kant led the creation of investment opportunities while empowering risk management throughout the bank. She held several positions across the organization and helped navigate a diverse array of leadership challenges, the bank said in a statement.

Kant is a graduate in Economic Honours from Lady Shri Ram College for Women and a Post-Graduate in Economics from Delhi School of Economics.