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 Department of Special Operations (CSO) is housed within CRFVP. Its primary responsibility is to resolve the problems and special issues in IFC’s portfolios related to debt, equity, quasi-equity, and other types of investment instruments, and to optimize the Corporation’s overall return on a net present value basis (including for B-loan Participants) while minimizing reputational risk and, where possible, maximizing developmental impact.

CSO is seeking to recruit a Chief (Principal) Special Operations Officer (CSOO) to be based in the MCT region (move to the field location to happen within 12 months from the appointment date). The successful candidate will provide leadership and oversight on CSO operations in Equity and in the Financial Sector, lead restructuring and recovery efforts on individual projects, provide leadership on restructuring expertise to Industry Management teams, and enhance IFC’s branding and thought leadership in the market. The successful candidate is expected to understand the dynamics of IFC’s portfolios and to actively communicate and work with relevant Managers, Directors and other stakeholders to disseminate restructuring best practices as well as to identify and implement areas of CSO value addition, including upstream policy work and new investment structures. The CSOO will report to the CSO Director and will serve as a core member of the CSO leadership team.

Duties and Accountabilities:
•  People and resource management responsibilities involve the following dimensions:
o  Models exemplary WBG leadership values and managerial behaviors and reinforces these qualities in CSO staff;
o  Drives and inspires technical excellence within the team by creating an environment of learning and innovation that attracts and develops the best talent reflective of the diversity of our clients;
o  Coaches and mentors staff on areas of expertise;
o  As part of CSO leadership, supports the CSO Director in developing and implementing appropriate strategies for global staffing, deployment, talent, and performance management.
•  Support the CSO Director in the management of IFC’s distressed portfolio in the Financial Sector and Equity investments, including identifying and analyzing potentially distressed assets, developing workout plans, leading and/or guiding teams in workout strategy and execution;
•  Ensure early identification of problem projects and coordinate the decision to initiate CSO intervention;
•  Represent CSO in the discussion of existing CSO projects and potential project transfers during Portfolio Review meetings for the areas of coverage;
•  Main liaison for Industry Managers, Equity Heads and Chief Risk Officers and their respective teams responsible for the areas of coverage, particularly on potential problem situations;
•  Foster and maintain strong relationships with other departments within IFC, including global and regional industry departments, risk management, credit, treasury, legal, and economics to identify and mitigate risks associated with stressed/distressed assets;
•  Monitor and manage IFC’s watchlist of potentially distressed assets, including assessing the impact of economic and market conditions on the portfolio;
•  Build and maintain relationships with key external stakeholders, including clients, partners, external advisors, investors, and regulatory authorities;
•  Develop and maintain a network of external partners in the restructuring/ workout ecosystem, including distressed debt investors, special situations funds, and other financial institutions to expand market knowledge, help regional industry teams connect to this market niche, and facilitate resolutions in IFC’s distressed portfolio;
•  Help build and reinforce CSO’s brand as a center of excellence for resolution of problem investments
•  Disseminate and share knowledge by using and expanding CSO’s knowledge database.

Selection Criteria

•  Master’s degree in finance, business, law, economics, international affairs, or similar fields and a minimum of 15 years of experience working for a major financial institution, restructuring advisory firm, or MDB focusing on the private sector in Emerging Markets.;
•  Extensive experience in complex multi-lender restructurings/ workouts in various Emerging Markets jurisdictions, including deep knowledge of restructuring techniques and elements of commercial, financial and legal analysis;
•  Personal credibility and rapport; strong leadership and business judgment; strong negotiation, transaction execution, and communication skills;
•  A self-starter requiring minimal supervision; ability to lead teams and set strategy for complex deals, typically under tight deadlines and a stressed environment; ability to lead other CSO and wider IFC professionals and external parties on these transactions;
•  Broad and deep contacts within the restructuring professional community, including professional advisors, turnaround specialists, workout bankers, etc.;
•  Track record of strong contribution to institutional knowledge management, sharing of lessons learned and proactivity in suggesting improvements to established practice;
•  Ability to contribute to CSO’s Departmental strategy and to support unit initiatives;
•  Strong leadership and management skills, with a track record of successfully managing diverse and multi-regional teams and delivering results;
•  Experience and understanding of efficient management of stakeholder and senior management interactions;
•  Unquestionable integrity, commitment to development, alignment with the WBG core values, strong work ethics.

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.