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.
The Financial Institutions Group (FIG), one of IFC’s industry departments, supports projects in numerous financial sub sectors, partners with local financial institutions, develops domestic and regional equity and debt markets and introduces new financing instruments. The goal is to develop efficient financial systems that will increase financial inclusion and fuel economic growth in client countries and enhance IFC’s developmental impact.
IFC has embarked on an ambitious new growth strategy (IFC 3.0) to stimulate more investment activity, especially in Low Income Countries (LICs) and Fragile and Conflict affected Situations (FCS). This strategy calls for generating our own opportunities by proactively working “Upstream” to create, deepen, and expand markets and to imagine, design and implement investment projects and directly supporting current and potential clients through targeted advisory engagements designed to underscore the investment strategy. It requires taking a systematic approach to understanding the regulatory and sector bottlenecks that prevent the flow of private capital into productive investment in our member countries and addressing these bottlenecks through World Bank Group engagement on policy reforms and programmatic interventions at the country, sector, and client level. It also requires capacity to leverage WBG programs and projects to develop our own proactive sector interventions and to imagine and design projects even in the absence of reforms.
FIG is seeking a Senior Investment Officer for Upstream with deep expertise in the Financial and Banking Sector. The selected candidates will focus on developing high-quality pipelines in the Middle East, Central Asia and Turkey (MCT) region under the supervision of the Regional Upstream Lead. They will also be expected to directly support the investment team which originates, manages and monitors IFC's financial sector investments, including investments that support the institution’s regional expansion across MCT.
Role & Responsibilities:
The role and responsibilities of the position will include but not be limited to:
• Identify and assess opportunities for FIG investments based on country and sector strategies and market creation potential.
• Develop feasibility studies and implementation plans for projects that lead to IFC investments.
• Design and implement scalable solutions and platforms that can be replicated across markets.
• Spot game-changing trends, technologies and business models that can bring solutions to emerging markets.
• Produce regular reports on the assigned Upstream portfolio including monitoring progress against project milestones and KPIs.
• Work closely with the regional team on originating, structuring and negotiating upstream and advisory engagements with partner institutions in the private and public sectors.
• Support the implementation of projects at partner institutions and manage teams of experts to meet impact targets.
• Support investment transaction team from initiation, due diligence, internal approvals, and processing of debt and equity investment, actively handling key work and directing and coordinating work of other team members from across multiple departments. Take full responsibility and accountability for transaction-related decisions and relationships.
• Collaborate with stakeholders and form partnerships with staff across IFC and the World Bank Group, sponsors, clients and other external parties to enable delivery of projects.
• Facilitate knowledge flow across IFC and the World Bank Group and promote adoption of new approaches and best practices.
• Mentor more junior staff working on Upstream activities.
Selection Criteria
• Master's degree or equivalent professional qualification in Business, Finance, Economics, International Relations, Science, Engineering, or other relevant field.
• At least 10 years of relevant experience in project and/or program development, in producing feasibility studies, hands-on advisory and/or consulting functions and deep understanding of investments in the financial sector in emerging markets.
• Relevant experience in the financial sector, including a solid operational understanding of commercial banks and other financial entities
• A good understanding of (or ability to interpret) the financial sector regulatory environment
• Genuine commitment to development and to the World Bank Group and IFC's mission, strategy and values.
• Understanding of IFC’s strategic priorities and changing business model against the backdrop of IFC 3.0.
• Capacity to innovate and challenge the status quo and a proven track record in new idea generation, business development, and creating projects/programs from scratch.
• Strong understanding of the financial sector and ability to link policy reforms, advisory interventions, investment, and mobilization to deliver solutions at a country level via the Cascade approach.
• Experience engaging with private sector clients, local and national governments and other stakeholders to encourage pioneering business and market development.
• Experience in project/program management, including executing against implementation plans with defined business development milestones.
• Experience in monitoring and reporting on a portfolio of projects/programs/initiatives.
• Outstanding analytical and critical thinking skills; demonstrated ability to synthetize complex information and make concrete strategic and tactical recommendations.
• Excellent people skills, openness to feedback, new ideas, and ability to guide, and motivate others.
• Strong written and verbal communications skills in English (Arabic a plus).
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.