Country Economist/ Operations Officer
Luanda, Angola
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 IFC 3.0 strategy aims to stimulate more investment activity across emerging markets, especially in Low Income Countries (LICs) and Fragile and Conflict affected States (FCS). Our goal is to create, deepen, and expand markets and design and develop impactful investment projects. This strategy is, in part, premised on improved country/sector diagnostic, strategic, and public sector engagement capabilities, which seek to: 1) resolve obstacles to private sector growth via diagnostic and strategic work that informs both IFC operations and relevant IBRD/IDA policy operations; and 2) overcome the shortage of investable projects in priority markets by proactively improving the private sector ecosystem at the country and regional level.
The Country Advisory and Economics team for the Eastern and Southern Africa Region (CAEAE) supports the region through provision of country economic diagnostics, strategy, and engagement products as well as through direct support to operational teams and country units, in collaboration with economists throughout the World Bank Group. Specifically, the team has four principal functions:
• Producing both regional and country-level economic assessments to support IFC’s strategy and operations.
• Collaborating with regional and industry colleagues to produce analytical products such as Country Private Sector Diagnostics (CPSDs) and IFC Country Strategies.
• Significantly contributing to WBG products such as Systematic Country Diagnostics (SCD), Country Climate and Development Reports (CCDR), and IBRD/IDA lending operations; and
• Putting IFC’s country strategy and diagnostic recommendations into practice through Advisory projects that engage with governments, regulators, civil society, development partners and other relevant stakeholders to reform markets and sectors and address key bottlenecks to private sector development.
CAEAE is hiring a Country Economist/Operations Officer to be based in Luanda, Angola working closely with IFC country, industry, and upstream teams in select countries in the Southern Africa Region. The Country Economist/ Operations Officer will report to the Country Advisory & Economics Manager in CAE.
Roles & Responsibilities:
In this role, the selected candidate will serve as a Country Economist/ Operations Officer for the CAE team in Luanda, Angola. He/she will work closely with IFC Country Management Unit, Upstream, Investments and Advisory staff as well as World Bank staff in executing both country economic as well as reform advisory and business development activities. Specifically, the candidate is expected to:
• Monitor the macro-economic conditions and trends for countries in the designated IFC country cluster and advise the IFC Country Manager and operational teams on its impact on IFC operations, in particular, macro-economic risks to IFC projects and strategies to mitigate them.
• Provide macro-economic analysis to support IFC investment operations including due diligence. Draft relevant sections of IFC Board papers including country context and strategic fit.
• Contribute to Country Private Sector Diagnostics, Country Climate Development Reports, and provide IFC input to WBG Systematic Country Diagnostics, Country Partnership Frameworks, Progress and Learning Reviews and other joint initiatives.
• Support IFC Country Manager and teams to develop IFC country strategies to help maximize IFC development impact.
• Maintain close liaison with World Bank teams, other development partners and client governments to help ensure that IFC engagements are aligned with WBG strategies and government development strategies.
• Support the implementation of IFC country and industry strategic priorities through advisory reform support in selected sectors and projects. Closely liaise with upstream and industry colleagues in preparation and execution of CAEAE advisory projects in the country cluster. Support client in implementing recommendations and help trouble shoot as needed.
• Contribute to analytical work on selected topics that inform IFC country and sector programs.
• Support business and project development in line with client and market needs while working collaboratively across WBG.
• Participate in senior level client meetings to provide technical advice and monitor progress in implementing relevant reforms to unlock investment.
Selection Criteria
• Master’s degree in economics, business, finance, or closely related field with a minimum of 5-7 years of relevant experience, or with PhD and 3-5 years of relevant experience.
• Ability to apply economic theory and concepts and demonstrate a solid understanding of key drivers of economic growth in emerging markets and to contribute to discussions with internal clients on topics of economic or strategic relevance.
• Ability to carry out analytical work and demonstrate judgement in making sound assumptions when there are gaps in data and information.
• Ability to assess market failures and economic soundness and feasibility of policy options to enhance investment attractiveness and private sector development, from a cross-cutting and sectoral perspective. Ability to understand the economic parameters behind private investment decision making.
• Ability to consider problems from new perspectives and expand on the thinking/solutions proposed by others; independent engagement in analysis and tasks requiring the interpretation of complex or imperfect sets of information.
• Logical, coherent approach to economic/strategic questions based on own work and an awareness of organizational or departmental strategies.
• Ability to communicate clearly economic and technical concepts to non-technical audience and present key messages and most relevant findings in compelling manner and appropriately embed empirical support for conclusions and recommendations.
• Demonstrate good command of the economics of a particular sector & key drivers of sector growth, productivity, profitability & efficiency.
• Ability to build strong work relationships with colleagues across operational teams, country teams and organizations within the World Bank Group.
• Experience in and strong knowledge of the economic context and challenges of countries in Africa.
• Solid over standing of IFC project cycles, approval/decision processes, and key drivers of IFC business decision making as well as knowledge and understanding of key IFC/WBG products and instruments and how they are deployed to pursue private sector development and country engagement.
• Excellent written and verbal communication skills and ability to communicate effectively with high level stakeholders in English and Portuguese.
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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