Thinking of a Career in Emergency Management?
- BY Nicole Pelette
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 in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity.
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is a global investor and advisor committed to promoting projects in its developing member countries that are economically beneficial, financially and commercially sound, and environmentally and socially sustainable. IFC finances private sector investments, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability, and provides technical assistance and advice to governments and businesses in the developing world.
The Cash Management Team together with the Liquid Asset Management Group in the Treasury Department manages over US$40 billion in assets for the Corporation. IFC’s Cash and liquid assets are separated into several distinct subportfolios – P0, P1, P2, P3, P4, P6 and P7 portfolios. The P0 portfolio is designed to process all of IFC’s operational disbursements and receipts, borrowing transactions, as well as most of IFC’s administrative payments. The P1 portfolio consists of proceeds from IFC’s variable rate market borrowings, which are invested until disbursement to clients. The P2 portfolio consists primarily of the Corporation’s paid-in capital and accumulated earnings. The P3 and P4 portfolios consist of funds originally taken from the P1 and P2 portfolios respectively and are assigned to a panel of external managers. The P6 portfolio was established under the Treasury global/local and portfolio funding initiatives to enhance IFC's local currency lending capabilities. The Cash Management Team is solely responsible for the P0 and P6 portfolios and also manages the cash component (overnight to 1.25 years duration) of the above P1 and P2 portfolios. The team is also responsible for the Corporation’s short-term borrowing (Discount Note) program denominated in USD and CNH. The proceeds from this program are utilized for IFC’s general cash management operations as well as fund short-term local currency loans to clients. The group also manages IFC’s global banking relationships and Foreign exchange activitiesNote: 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 3 year term appointment.
Duties and Accountabilities:
The team currently comprises of 7 full-time staff managing about USD 15 billion, with a high number of daily transactions. Each staff member has individual responsibilities for the following functions, but the team also rotates assignments to have updated exposure/understanding of all functions. The successful candidate will initially assist senior team members in their functions but is expected to quickly learn and take independent responsibility for some of the team functions such as:
IFC values diversity and encourages all qualified candidates who are nationals of IFC member countries to apply, regardless of gender, gender identity, religion, race, ethnicity, sexual orientation, or disability. Sub-Saharan African nationals, Caribbean nationals, and female candidates are strongly encouraged to apply.