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Description
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets and the world’s largest multilateral source of loan and equity financing and advisory services for the private sector in the developing world. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record US$43.6 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. Working with 2,000 businesses worldwide, IFC draws on more than six decades of experience to create opportunities and solutions where they are needed most. For more information, visit www.ifc.org.
The Financial Institutions Group (FIG) is one of the major industry groups at IFC, responsible for originating and managing roughly 50% 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, Structured Finance, Housing, Distressed Assets, and other areas, with both investment and advisory services delivered to IFC’s clients through IFC’s global network.
IFC is seeking to recruit a Director for the Global Industry Department, Financial Institutions Group (FIG). The Director will provide global knowledge and thought leadership to the FIG sector and product strategy, chair decision meetings for FIG investments, collaborate across the WBG on sector strategies, and manage global client relationships in FIG. The position will be based in Washington, D.C., and will report to the Vice President, Industries. The selected candidate will be an integral part of the leadership team of the Industries Vice Presidency.
Duties and Accountabilities:
The Director will be expected to provide thought leadership, vision, and an enabling environment for staff to fulfill the IFC Operations and WBG mission with passion and professionalism. In particular, the Director of FIG will provide operational, strategic, and managerial support to FIG and Operations leadership. The Director’s responsibilities will include:
• Providing thought leadership and developing FIG strategy and priorities globally, with a focus on strategic areas such as Fragile and Conflict-Affected States (FCS), IDA countries, Climate Change and Gender.
• Collaboration with FIG Regional Industry Directors and Managers as well as FIG sector managers, to direct the activities of multidisciplinary global and regional teams and develop investment and advisory strategies that leverage cross-cutting solutions in climate and green, capital markets, structured finance and housing, as well as financial inclusion with a focus on gender finance that help build a range of innovative market creating solutions.
• In collaboration with FIG’s senior leadership, management of direct business growth efforts by building senior relationships with global and regional Financial Institutions to help develop country, sector and client-based solutions in line with WBG and IFC country strategies.
• Building strong partnerships and dialogue with leadership of other partner Global Financial Institutions that play a key role in emerging markets.
• Overseeing the development of new products or modification of existing products to address market needs created by regulatory changes or shifting business practices, conditions, and economic trends.
• Collaboration with FIG and real sector clients with the intention to grow IFC’s business within manufacturing, agribusiness, services, and infrastructure, and natural resources.
• Establishing and developing close collaboration and maintaining partnerships with peers in IBRD/IDA, MIGA, IMF, and other organizations, including development finance institutions, and engaging with shareholders at senior decision-making levels, including through capital markets development, innovative technology-based solutions, their implications and risks, how to manage them, and opportunities for collaboration.
Selection Criteria
• A Master's degree or equivalent professional qualification in finance, business, or equivalent and a minimum of 15 years of relevant work.
• Commitment to development and a proven track record showing alignment with the World Bank Group and IFC's mission, strategy, and values.
• Strong track record of business delivery, demonstrated investment experience, superior business judgment, and established professional credibility.
• Deep understanding of financial markets, the role of financial and capital markets in economic development, and the role of Financial Institutions in maintaining macro-financial stability.
• Solid understanding of financial market products and regulations.
• Strong technical understanding of the investment and advisory businesses, including product development, structuring, client relationship management, credit and equity skills and superior risk management.
• A track record of innovation in developing and structuring products to support investment in emerging markets.
• Proven credibility with credit and risk functions, having effectively chaired credit and investment review committees.
• Ability and willingness to make decisions, take accountability, and hold others accountable for results.
• Proven track record of managing and motivating staff across different locations, making staff development a high priority.
• Demonstrated ability to assemble diverse, high-performing teams in a dynamic and multicultural environment.
• Capacity to build strong client relationships that lead to results-oriented and development-focused partnerships.
• Excellent people management skills and openness to feedback and new ideas, and ability to guide staff to solutions.
• Recognized as a team player, leader, strategic thinker, and thought leader, who models the highest ethical standards in his/her actions.
• Strong written and verbal communication skills.
• Ability to represent IFC externally and to develop and manage relationships with clients, government, media, donors, and other stakeholders.
• Meet World Bank Group-wide managerial competencies - Courage of your Conviction, Leading the Team for Impact, Influencing Across Boundaries, Fostering Openness to New Ideas, Building Talent for the Future.
WBG Leadership Values & Managerial Behavior
• Leadership of Self: Role model the change and values for WBG; Demonstrate courage of convictions, ownership and self-mastery within the organization in accordance with our values.
• People Leadership: Lead and inspire staff to perform and deliver for better results; Help others achieve their fullest potential through coaching and mentorship.
• Strategic Vision and Innovation: Ability to appreciate broad macroeconomic risks that impact financial markets and develop innovative approaches to manage and mitigate those risks, particularly in FCS countries.
• Collaborative Leadership: Be mutually accountable for entire WBG's corporate targets and success; Work across WBG and with clients and partners to achieve better results.
• Client Solutions Leadership: Be the leading provider of development solutions for country clients; Provide leadership in both knowledge generation and knowledge sharing.
• Decisive Leadership: Take informed risks and make decisions in a transparent manner resulting in transformative impact for clients; Commit to decisions once they have been made.
• WBG 5 Managerial Competencies: Courage of your convictions; Leading Teams for impact; Influencing across boundaries; Fostering openness to new ideas; and Building talent for the future.
WBG Core Competencies for All Staff: Client orientation; Drive for results; Teamwork of collaboration and inclusion; Knowledge, learning and communication; and Business judgment and analytical decision-making.
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.
