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. Our mission is to leverage the power of the private sector to end extreme poverty and boost shared prosperity on a livable planet. For more information, visit www.ifc.org.
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:
(i) grow investment and advisory solutions in the region, and achieve strong profitability and impact
(ii) build new and nurture existing client relationships to make IFC the preferred partner for key clients
(iii) manage portfolio of assets for strong profitability and impact;
(iv) support local companies, while improving transparency and corporate governance;
(v) catalyze foreign investment, including mobilizing B loans and parallel loans;
(vi) introduce and develop new financial solutions, products and platforms;
(vii) build long-term partnerships with strong regional players and
(viii) develop client, sector and country-level solutions through upstream and downstream interventions that can be scaled and replicated;
(ix) be a thought leader and innovator of products and client solutions globally; and
(x) deliver on ambitious climate finance investment targets across multiple sectors within FIG.
Climate Business is one of the strategic priorities of the WBG, and IFC has developed an ambitious climate action plan to reach a climate target of 35% by 2025. The focus is to support IFC’s client FIs build viable and scalable climate finance operations, leveraging their client base and partnerships with various market players such as energy utility companies, energy service companies, equipment vendors, international supply chains and various players who support the promotion of climate smart investments and emissions reduction.
IFC is seeking a Climate Specialist to support the implementation of a successful FIG Climate Business program in East and Southern Africa. The Specialist will work with a multi-disciplinary team to assist partner financial institutions and other program partners to develop and deliver on the program. The Specialist will also work closely with the global network of practitioners to contribute to and share knowledge and best practices. S/he will also be responsible for working with a broad range of public and private sector stakeholders to identify climate business opportunities in the sub region, and to disseminate lessons learned from IFC’s program to make a substantive impact on sustainability and climate change agenda in the sub region through FIs. The Specialist will be based in Dar Es Salaam, Tanzania and will be required to travel regionally. The Climate Finance Specialist will report to a Senior Climate Specialist based in Africa.
The Specialist is expected to support the FIG regional team to generate new business leads for investment and advisory services and implement and monitor a portfolio of investment and advisory projects with financial institutions (FIs) linked to the product. He/she will have responsibility for supporting the FIG team in the development of product strategy, supporting Client Relationship Leads and providing technical expertise and support to the AS and IS transactions through the entire project life cycle from business development through supervision.
Duties & Responsibilities will include but not be limited to:
• Work with the regional Climate team on developing new opportunities, managing internal and external stakeholders, investment processing and portfolio management.
• Collaborate in developing client strategies/ engagement plans and pitch books for industry and countries, particularly in Climate and with financial intermediaries;
• Establish and maintain relationships with mid-level clients and other stakeholders (government, development partners, WBG) to explore business opportunities;
• Analyze operational and financial performance as well as credit and integrity risks of potential clients/ projects;
• Perform assessments related to Paris Alignment and Climate Risk in investments;
• Build complex financial models, perform due diligence and financial analysis, and/or provide quality control over financial analysis/ projections developed by analyst to evaluate benefits and risks of transactions;
• Assess and articulate development impact and IFC’s role/ additionality as it relates to climate aspects in transactions;
• Lead climate risk and opportunity assessments for investment transactions incorporating lessons learned from IFC’s earlier investments and portfolio management;
• Coordinate with internal stakeholders (Legal, E&S, sector specialists and Economists) to identify ways to strengthen development impact and financial sustainability of projects;
• Perform credit and risk assessments, financial projections, covenant compliance reviews; impact reporting, and monitor changes to risk flags to determine performance of assigned portfolio with limited supervision;
• Responsible for rating reviews or loan loss reserve on a quarterly basis for the overall assigned portfolio. Run models for equity valuations to determine the need to modify the exit strategy;
• Supervise and ensure quality of portfolio reporting information prepared by junior staff, providing broader industry, sub-sector and country perspective into project risks and issues,
• Engage with mid-level clients of projects to understand their business directions and challenges that may lead to new opportunities, and support design of client engagement plans, as applicable;
• Follow up-with mid and senior level clients to resolve problems on projects.
Selection Criteria
As the role requires sound knowledge of climate finance and its integration with financial institutions. The successful candidate will have;
• Master’s degree in finance, economics or other related areas; accreditation as CFA or CPA is considered equivalent;
• At least 5 years of experience with a proven track-record of sourcing, structuring and closing investments preferably both in equity and debt, including Capital Markets, particularly with financial intermediaries;
• Sound understanding of financial structures used to finance climate friendly projects as well as how banks, insurance companies, capital markets, and other financial intermediaries typically work in the area of climate friendly financing;
• Extensive knowledge of clean energy and environmental markets in Asia and knowledge of international best practices and global trends in the industry;
• Good understanding of the perspective of the commercial banks, insurance companies and other financial intermediaries, including their business drivers, the scope of their operations, and their interests, so as to be able to successfully engage;
• Expertise/familiarity with metrics and tools for tracking climate investments, including GHG accounting;
• Awareness/familiarity with IFC Climate Definitions, ICMA Principles and Climate Risk;
• Good understanding of IFC’s financial instruments, requirements, main investment agreements/ standard contracts and provisions, all aspects of transactions to provide input for optimal structuring of a prospective opportunity, and internal deal and portfolio processing;
• Understanding of industry drivers, business/ market development cycles, and how business performance and long-term competitiveness/ viability are measured within industry and how industry dynamics may evolve within a country/ region;
• Proven analytical, financial analysis, equity valuation, and financial modelling skills to analyze and form conclusions on company financial information or projects and industry indicators. Able to oversee and provide quality control feedback on financial models prepared by analysts;
• Understanding of credit and non-financial risks associated with straightforward projects and specific aspects of a complex project, and how to satisfactorily mitigate those risks based on understanding of how IFC assesses risk/ reward tradeoffs;
• Capacity to identify barriers for market creation opportunities in a targeted country by tapping into relevant internal expertise and synthesizing information on local regulatory and economic context, industry/ sector and landscape, and constraints clients are facing to grow their business;
• Capacity to build productive and mutually beneficial relationships/ networks internally and externally to identify business opportunities, discuss structuring alternatives, and resolve issues;
• Excellent written, verbal communication and presentation skills to effectively influence the perception/ support of clients/ stakeholders;
• Ability to draft documents and reports that are concise, well-organized, and appropriately focused on most critical points that are relevant to the target audience;
• Ability to share valid opinions and new observations relevant to project outcomes with project lead’s in a manner that is concise, cohesive and focused.
• Excellent oral and written presentation skills in English are required.
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.
