Do you want to build a career that is full of meaning and impact? The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities to create markets and opportunities where they are needed most.
The Financial Institutions Group (FIG) is one of the major industry groups at IFC, responsible for managing roughly 40% of IFC’s overall business in terms of volume and capital at risk. FIG engages in a wide range of sub-sectors including Microfinance, SME, Gender, Climate, Insurance, Capital Markets, Housing, Distressed Assets, and other areas, with both investment and advisory services delivered to IFC’s clients through IFC’s global network.
IFC's priorities in FIG as an industry group are:
- grow investment and advisory solutions in the region, and achieve strong profitability and impact
- build new and nurture existing client relationships to make IFC the preferred partner for key clients
- manage portfolio of assets for strong profitability and impact;
- support local companies, while improving transparency and corporate governance;
- catalyze foreign investment, including mobilizing B loans and parallel loans;
- introduce and develop new financial solutions, products and platforms;
- build long-term partnerships with strong regional players and
- develop client, sector and country-level solutions through upstream and downstream interventions that can be scaled and replicated;
- be a thought leader and innovator of products and client solutions globally.
Climate Business is one of the strategic priorities of the WBG, and IFC has set itself a very ambitious climate action plan and reach a climate target of 28% of total investments by 2020, and 35% from 2021 to 2025 (including energy efficiency, renewable energy, cleaner production and resource efficiency, waste and wastewater management, and green buildings). To contribute to those targets, FIG has already quadrupled its climate finance investments over the last three years, working with FIs to scale up their financing of climate friendly projects. The team comprises of technical specialists, investment officers and project managers who provide advisory services (AS) and investment services (IS) to financial institutions. The focus is to support IFC’s client banks and non-bank financial institutions build viable and scalable climate finance operations, leveraging capital markets as well as their client base and partnerships with various market players such as institutional investors with climate and sustainability mandates, energy service companies, equipment vendors, international supply chains and various players who support the promotion of climate smart investments and emissions reduction.
IFC is looking to identify an individual who will lead its FIG Climate and Sustainability Finance Team to continue to set the strategic direction of the business, identify and scale new and existing opportunities and manage the climate portfolio, as well as to continue to closely coordinate with the upstream work by IFC and the World Bank. The individual will lead the FIG Climate and Sustainability Team globally. The individual will also be responsible for managing and maintaining the relationships with the existing climate business partners globally and identify new partners and donors. The position will report to the Senior Director of the Financial Institutions Group, with Director Climate Business as co-supervisor, and will be based in Washington DC.
Role & Responsibilities :
- Specific responsibilities include, but are not limited to:
- Lead and manage the Climate and Sustainability Finance Team in order to achieve its objectives and ambitious plans for investment growth and development impact;
- Define its global strategy, prioritize areas of focus, and establish goals for the business and the team;
- Collaborate closely with FIG global and regional management in developing priorities and strategies for climate and sustainability finance across regions;
- Help develop a strong pipeline of good quality climate focused investment opportunities for FIG through anticipating market trends and employing sector/country knowledge;
- Evaluate, structure, negotiate, and close new transactions;
- Manage the relationship with existing clients as well as work closely with the rest of the team to ensure a consistent approach across regions;
- Work closely with the WB’s Global Practice for Finance to establish priority areas for joint efforts;
- Define and lead the development and implementation of all internal requirements associated to a growing business line;
- Coordinate with other units including the Climate Business Department, the other Industry Departments, IFC Treasury, the AMC, the Environmental and Social Risk Departments and others within IFC to ensure all the required support to develop new business opportunities and to efficiently manage both new investments as well as the existing portfolio;
- Work as a member of the Climate Anchors Network across IFC liaising with other individuals running climate business in other industries and regions.
- Master’s degree in finance, economics or other related areas;Minimum 15 years of experience in finance, with evidence of growing expertise in banking, financial institutions and finance related disciplines;Strong experience in climate and sustainability finance, with an in-depth understanding of industry trends in capital markets and banking related to climate risks and opportunities.
- Solid track record and exposure to climate and sustainability finance transactions and portfolio projects;Ability to see the big picture of where sectors, industries, regions, and countries are, where they are heading, and where IFC can play a role in their development with respect to climate and sustainability finance. •
- Able to establish senior-level relationships and bring together cross sector and organizational players within IFC, WBG, and other DFIs to define strategically important collaborative interventions (e.g., policy reforms, regulatory changes) to increase financing in emerging markets, reach potential in existing markets, and unlock untapped market opportunities for climate and sustainability finance.Strong financial and credit skills; demonstrated ability to structure a variety of complex financial instruments (debt and equity).
- Ability to interact directly and independently with the senior management of potential clients, of financial and technical partners as well as senior government officials.Good management skills with proven track record of success in developing client relationships and execution of client engagements.Ability to build long-term engagement with IFC’s strategic and top tier clients by engaging with senior management and connecting their strategies and business needs with IFC strategic priorities at sector, region, and country levels.
- Able to have difficult conversations with clients to set reasonable expectations and with team members on their accountabilities or to address performance issues. Ability to deal proactively with and resolve conflicts when misalignment of interests develop between shareholders and sponsors.
- Excellent negotiation and structuring skills demonstrated by proven track record. Can recognize when negotiations no longer serve IFC’s interests and has the conviction to take appropriate actions to protect IFC, which could include walking away from a deal or taking different positions on corporate actions.
- Strong track record of negotiating both plain vanilla and more complex transactions;Knowledge and Experience in International Economic Development Arena and commitment to sustainable development.
- Excellent business judgment and strong analytical and problem-solving skills to identify issues and present creative, practical solutions.
- Great team player, able to mentor and train more junior staff.Capacity to deal with conflicting priorities and deliver high quality work on schedule; facility to work successfully in multicultural teams and across boundaries.
- Excellent oral and written presentation skills in English are required; additional major language such as Spanish desirable. Willingness to travel.