Description
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
Economics and Market Research (CER) is a new Department in the Economics and Private Sector Development Vice Presidency Unit (CED VPU). This department will be a strong hub for economic research and creation of IFC flagship reports, country diagnostic and sector analytical work, and country macro and markets risk work. Specifically, the department will lead on the creation of upgraded Country Private Sector Diagnostic reports and coordinate IFC contributions to Country Climate and Development reports; create flagship IFC reports and academic articles related to private sector development, both through internal staff research and at times in collaboration with universities and other international organizations; organize academic conferences, workshops, and forums; provide country risk and market updates to IFC Risk VPU and to IFC Management; and monitor country macroeconomics and financial market developments in client countries.
IFC is seeking a Director, Economics and Market Research Department, to lead this new department and manage its ~60 staff to the highest professional standards. The position is based at IFC’s headquarters in Washington, D.C. S/he will be a member of the CED VPU leadership team and will report to the VP of Economics and Private Sector Development.
Duties and responsibilities
The Director will oversee the following activities:
Strategic and operational Leadership
• Lead the creation and implementation of an IFC strategy and priorities for research and publications. Identify key thematic topics, academic advisors and collaborators, and new databases for IFC to lead globally on.
• Provide quality control and oversight for IFC economic research reports on issues related to private sector development, based on new analysis and data. Report findings should be relevant to investors, business leaders, policymakers, and IFC operations. Thematic areas will evolve over time, but will include a strong focus on climate finance, adaptation and mitigation; trade integration and finance; digitalization and the digital economy; competition, productivity, and innovation; agriculture and food security; and gender and inclusion.
• Ensure a regular stream of IFC external publications based on our research, including articles, working papers, and reports. Lead dissemination of this content through conferences, podcasts, digital media, and other channels.
• Ensure rigorous economic analysis for WBG country diagnostics publications, including the newly upgraded and expanded Country and Private Sector Diagnostics (CPSDs), and the Country the Country Climate and Development Reviews (CCDRs). Oversee and ensure quality of bespoke analysis, in support of operational needs, on sector dynamics, opportunities, and competitive landscape.
• Identify and track important macro and market risks as they occur and provide briefs for IFC Management, including possible implications for IFC operations (e.g., SVB bankruptcy, Africa debt sustainability, countries at risk of balance of payment crises)
• Ensure quality of country risk updates and global scenario analysis for IFC Risk VPU. Oversee analysis on emerging markets (EM) equity trends and outlooks based on country macro fundamentals for IFC operations.
• Oversee creation of a central online repository for all IFC staff that contains country macroeconomic outlooks from the World Bank Global Economic Prospects group, the IMF, and other sources, working in collaboration with IFC country and regional economists.
• Work with IFC operations to identify opportunities to create new surveys, real-time data, unique databases and analytical tools related to firms in emerging and developing countries, private sector investment, foreign investment, and other relevant topics. Work with academics and other experts on data collaborations as appropriate.
External stakeholder engagement and IFC external publications
• Organize academic conferences, economist talks and workshops, and research collaborations to strengthen connections with academic institutions, think tanks, and other development finance institutions.
• Build relationships with leading academics from the major universities that will provide input on IFC research projects related to their expertise. Create new programs to attract visiting scholars, post-docs, and PhD students.
• Become a public spokesperson for IFC research, engaging in conferences, forums, and with the media. Represent IFC in internal and external events.
• Disseminate IFC economic research and analysis to its Board, donors, and other stakeholders.
• Interface with the World Bank, International Monetary Fund and other International Financial Institutions on all issues related to private sector development economics.
• Lead in the IFC Editorial Board that oversees the quality and content of all IFC external publications. Co-chair the Concept Note and Decision Review meetings for all IFC external reports. Ensure economic rigor in all IFC external reports and publications.
• Draw on findings from economic research to inform IFC strategy, Investment and Advisory operations, Upstream engagements, and WBG policy work. Establish a feedback loop between outreach and dissemination and research to foster innovation and ensure continuous improvement in the relevance and impact of IFC research.
People and resource management
• Professionally manage the department and its staff to a modern standard and high level of performance, with special attention to diversity objectives.
• Drive and inspire technical excellence within the department by creating an environment of learning, innovation, and knowledge sharing.
• Create a broader Community of Interest for all economists and researchers at IFC. Actively collaborate with the country economics teams on country diagnostic reports, research reports, and macro outlooks.
• Deliver the agreed upon work program through cost effective use of resources and ensure timely delivery of high-quality outputs.
Selection Criteria
• PhD in Economics or equivalent.
• 15+ years of relevant experience with increasingly higher levels of responsibility.
• Commitment to the WBG and IFC’s mission and values.
• Strong track record of publishing high-impact economic reports and articles for external audiences, particularly in topics related to private sector development and IFC’s thematic areas of focus.
• Strong analytical and quantitative skills, with ability to provide quality control and direction for all department research and other outputs.
• Sound experience in country private sector diagnostics, macro analysis and market risks identification.
• Effective and persuasive oral and written communication skills to work successfully with external stakeholders, clients, as well as with IFC management.
• Demonstrated leadership abilities, including setting strategic directions for staff, coaching and mentoring junior colleagues, and building a high-performing team of professionals
• Experience managing a large and diverse team of experienced economists with multiple objectives. Ability and willingness to make decisions, take accountability and hold others accountable for delivery.
• Ability to cultivate an active network of external relationships among academics, other international organizations, and within the broader World Bank Group. Ability to represent IFC publicly.
• Demonstrated ability to operate in a collaborative manner in a matrixed, complex and global organization. Proven track record of building strong collaborative relationships with peers and Management across regions and institutions within the WBG.
• Interest in and ability to drive innovation and change, and to bring together groups that are used to working autonomously to solve problems and make decisions.
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 4 year term appointment.
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.
This vacancy is archived.