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, Payments, Fintech, and other areas, with both investment and advisory services delivered to IFC’s clients through IFC’s global network.
Within FIG, the Digital Finance (DF) team aims to work with private sector Digital Finance companies throughout emerging markets to expand their access to funding through a range of IFC investment products from corporate loans, asset backed structures, and bonds on the debt side to equity and quasi-equity in private or listed companies. Focus is on debt solutions. In addition, the DF team drives and supports regions in development and building of lending portfolios to later-stage Digital Finance providers. To enable financial inclusion of unbanked and underserved populations, IFC is keen to develop a lending program to later-stage Digital Banks, Embedded Finance providers, and Fintech in emerging markets with the aim of supporting and funding these institutions.
To grow this business, FIG is seeking an Industry Specialist - Digital Finance with solid investment expertise and relevant network in the global Digital Finance space that can help deepen the scope, reach and impact of IFC’s investments in Digital Finance to develop new initiatives with clients, partners, and World Bank Group teams across regions. The position will be based in Washington, DC.
Duties and Accountabilities:
The responsibilities of the Industry Specialist will include but are not limited to:
Provide support in originating viable IFC investment transactions in the Digital Finance space globally, maximizing development impact as well as profitability
Collaborate with regional departments and work closely with regional teams to deliver IFC's investment targets and development impact
As a global specialist, deliver expertise and specialization regarding digital finance opportunities to support the regions
Build a strong pipeline of potential future investment opportunities in Digital Finance in cooperation with regional IFC teams
Support in implementing innovative and appropriate financial structures for complex transactions across the capital structure (senior debt, mezzanine, or equity)
Identify opportunities and support FIG’s engagement regarding Digital Finance with a range of market players including banks, insurers, Fintech companies, and innovative financial service providers
Support in developing global platforms (IFC investment frameworks) and global solutions for facilitating FIG investment
Develop client relationships with Digital Finance providers
Maintain relationships with clients, market players, and other stakeholders (government, development partners, World Bank Group) to develop markets and investment opportunities
Help to build and maintain a network of global and regional co-investors and co-lenders to develop specific investment opportunities and to provide funding alongside IFC
Provide guidance to investment teams on due diligence (financial, market, valuation etc.), risk/mitigation analysis, and structuring/ negotiations from a Digital Finance perspective
Coordinate closely with technical experts (banking specialists, environmental specialists, lawyers, etc.) to add value to our clients' businesses, find pragmatic solutions, and achieve sustainable development impact
Analyze industry trends and prior transactions to develop new business and improve portfolio performance
Provide support in disseminating knowledge across the industry group and promote knowledge-sharing within FIG as well as more broadly across IFC
Provide support in developing thought leadership on Digital Finance trends, and in addition think through the implications of these trends for IFC’s business in this space to both grow and future proof IFC’s business and be an integral part of driving a sustainable growth of the Digital Finance business
Closely follow emerging landscape in the Fintech/Digital Finance space and use that knowledge to provide insights and ideas to FIG Digital Finance leadership
Represent IFC/FIG as a participant at Digital Finance events
Work closely and constructively across FIG business/product lines as well as FIG regional teams to provide insights into Digital Finance space evolution, both medium-term and long-term and be accretive to FIG’s overall business.
Selection Criteria:
Master’s degree in finance or business
Minimum of 6-8 years of investment experience (e.g., commercial or investment banking, private equity, or funds), including at least 2 to 3 years investment experience in the Digital Finance space
Demonstrated investment track record of successfully sourcing, structuring, closing, and managing transactions in the Digital Finance ecosystem
Emerging Markets experience highly preferred
Structuring and technical skills with a variety of financial structures and instruments for both debt (focus), and equity
Sound business judgment in screening/identifying potential investment opportunities and making go/no-go recommendations
Solid understanding of relevant trends and issues
Established network in the broader Digital Finance ecosystem including industry strategic investors, top tier VCs, entrepreneurs, impact investors and the broader development Finance community
Open to feedback and willingness to learn
Technology savvy professional, with a passion for global development
Excellent written and oral communication skills in English; ability to convey ideas and positions clearly; strong presentation skills
High emotional intelligence and work ethic
Effective team player in multi-cultural and multi-location environment and ability/experience with providing guidance, professional development, and quality control of work products
Ability to interact directly and independently with senior management of (potential) clients, partners, and government officials
Capacity to identify and successfully develop market creation opportunities in multiple countries by demonstrating long-term perspective, open-mindedness, persistence, innovation, and ability to leverage instruments and programs available at the World Bank Group
Commitment to knowledge management
Willingness to be proactive in contacting people and learning about new developments
Highest standards of ethical integrity, transparency, and fairness
International exposure, especially to the emerging markets, cultural sensitivity, and willingness to work in multiple time zones and travel extensively
