Counsel – Mobilization
Washington DC, United States
JOB DETAIL
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 2023, IFC committed a record US$43.7 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 Legal Department of IFC (CLED), under the Vice President and General Counsel, Legal and Compliance Risk, provides legal and policy advice to the IFC Board, its Management and client departments on operational, advisory, and corporate matters. CLED supports client departments in (i) the delivery of IFC’s annual program of financing private sector projects in emerging markets, advisory services, as well as early stage engagements and pre-investment project development work to identify opportunities for private sector investments and creating markets (“Upstream”); (ii) project portfolio management (including jeopardy projects and projects in litigation); (iii) the delivery and design of structured finance products, sub-national lending, equity and quasi-equity and public-private partnerships, and investments in funds, as well as platform products; (iv) advising on corporate policy and operational matters; and (v) knowledge management and training.
The WBG Evolution Roadmap emphasizes the increasing importance of private capital mobilization (PCM). It amplifies IFC’s role of catalyzing private sector financial flows through existing mobilization channels, contemplates a new mobilization platform focused on portfolios of IFC loans – a Warehouse Enabled Securitization Platform (WESP), and the Syndications department continues to develop innovative ways to enhance ways to mobilize capital. As part of the focus on PCM, the Corporation is also focused on increasing the use of Blended Finance, including by accessing new sources of financing.
The CLED Debt Mobilization Group coordinates legal services in respect of all Debt Mobilization Products — traditional B loans, MCPP loans, parallel loans, credit insurance and debt securities syndications – both for new originations as well as the management and administration of projects already originated with mobilization components. This Group also coordinates legal services in respect of new Debt Mobilization initiatives and platforms, and advice. Good knowledge management facilitates the efficient delivery of services for internal clients. The Group is led by the Global Lead for Debt Mobilization, supported by Product Specialists who are subject matter experts.
To support IFC’s growing activities in PCM and Mobilization, CLED is recruiting a qualified Legal Counsel, to be based in Washington DC. The Legal Counsel will report to the Global Lead for Debt Mobilization.
Duties and Responsibilities
Debt Mobilization
Provide legal support to the Syndications Department, including:
• Origination of new projects with Debt Mobilization components (including traditional B loans, MCPP loans, parallel loans, credit insurance and debt securities syndications), and managing existing projects, including responding to ad hoc inquiries and routine consultations from Syndications Staff, Investment Staff, and CLED colleagues regarding new projects as well as existing agreements, and assisting with waivers, consents, amendments and rescheduling of existing IFC transactions with mobilization components, and including advising on issues related to non-disclosure agreements and mandate letters, and other pre-commitment agreements with borrowers, investees, participants and co-investors;
• Support for knowledge management, including developing, updating and publishing guidance for legal and non-legal staff; developing, updating and refining relevant specimen legal agreements and forms for the practice area; maintaining the practice group intranet page; assisting in the design and delivery of internal and external trainings and presentations to legal and non-legal staff; as well as formally and informally sharing knowledge and experience with colleagues in all regions;
• Development of new products, platforms and initiatives, including advising the Syndications Department and the Corporation on legal risks related thereto, and engage and supervise external counsel as needed to document and negotiate new facilities and platforms;
• Advising internal clients on institutional and corporate matters relating to the practice area and provide legal advice and support with respect to all related aspects of IFC’s business;
• Advising on the selection of outside counsel, manage outside counsel’s service delivery, quality, and legal costs;
• Support for Investment projects that fall outside of the remit of the Syndications Department but that involve the mobilization of third-party capital for IFC investment clients;
Other areas of work
The Legal Counsel will also participate more broadly in the general work of CLED, including:
• Support to IFC’s Blended Finance operations, including acting as BF lawyer on transactions;
• Provide general legal advice and support with respect to all aspects of IFC’s business to internal clients across all industry sectors and regions, and assume primary lawyer responsibility for a limited number of Upstream, Advisory or Investment projects;
• Advise on the selection of outside counsel, manage outside counsel’s service delivery, quality, and legal costs.
Selection Criteria
• A Juris Doctor degree or equivalent law degree.
• Admitted as a legal bar member in at least one jurisdiction.
• At least 8 years of relevant experience as a lawyer in a law firm, international financial institution, corporation and/or development institution, with demonstrated work experience in cross-border emerging markets finance and investment, including project finance, corporate finance, equity investments, and managing intercreditor/syndications issues, including specifically working on transactions that involve syndications or mobilization components.
• Demonstrated ability to assume multiple roles and tasks to meet changing business needs with an ability to foresee, troubleshoot, escalate and effectively resolve conflicting issues and challenges.
• Excellent interpersonal skills, demonstrated ability to deal sensitively in a multicultural environment, to build and maintain effective working relations with clients and colleagues across IFC, and to work effectively in teams.
• Ability to work in a fast-paced environment with quick turnaround expectations.
• Professional integrity and sound judgment in handling confidential information.
• Excellent communications skills in English language and the capacity to present both written and oral ideas clearly, concisely and persuasively.
• Demonstrated commitment to core values, including excellence, mutual respect, collegiality, teamwork, diversity and inclusiveness, integrity, innovation, transparency and accountability.
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.
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