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 with more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, we invested over $43 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.

IFC is seeking to recruit a Director for the Environmental & Social Policy and Risk Department (CES), to be based in Washington D.C., to provide leadership and corporate oversight on E&S policy and risk functions.

CES serves as the guardian of IFC E&S policies, standards and procedures and is responsible for providing oversight, advice and guidance, and independent ‘second line of defense’ review in the management of E&S risk within the Corporation. CES works in close collaboration with IFC’s operational departments and the ESG Sustainability Advice and Solutions Department (CEG), whose role is to partner with investment and advisory teams to undertake environmental, social, and corporate governance due diligence for IFC’s projects, provide portfolio supervision, and bring environmental and social products, services and best practice to existing and potential IFC clients. Key work program areas for CES include:

• Policy: oversight and management of IFC’s Sustainability Framework (consisting of IFC Sustainability Policy, Performance Standards, and Access to Information Policy) and E&S procedures including leading policy updates required from time to time; 

• Risk Oversight: providing independent E&S policy advice and guidance to staff and management, including oversight of the high-risk projects in IFC’s investment and advisory pipeline and portfolio; 

• Grievance Response: supporting operational teams and management to respond proactively to E&S complaints from external stakeholders, including responding to the Compliance Advisor Ombudsman (CAO), IFC’s accountability mechanism, and mobilization of rapid response teams as needed; and 

• Knowledge and Learning: developing good practice guidance on emerging E&S issues as well as implementing training programs, including E&S accreditation for IFC staff.

The Director, CES, will report to the IFC Vice President, Risk & Finance, and will be a member of the senior management team of the Risk & Finance Vice-Presidency alongside the IFC Controller, the Director of Investment and Credit Risk, the Director of Corporate Risk Management and the Director of Special Operations. S/he will work closely with these colleagues and with the rest of IFC’s senior leadership team to promote effective environment and social risk management across IFC operations. The successful candidate will the lead a multi-disciplinary team, including a cadre of highly experienced subject-matter experts, to provide high-quality advice to Management, and deliver on the four functions mentioned above, while building and maintaining excellent working relations across IFC, MIGA and IBRD/IDA. The position reports to the IFC Vice President, Risk & Finance.

Duties and Accountabilities

• Promote IFC leadership in the E&S space through effective custodianship of IFC’s Sustainability Framework, including periodic updates and improvements so it remains fit for purpose.
• Lead in the development and maintenance of IFC E&S procedures, guidance notes and guidelines, and rating tools and systems, incorporating lessons of experience.
• Manage proactive review, monitoring and reporting of E&S risks and compliance with IFC’s Sustainability Framework and related E&S policies, standards and procedures for new projects and during portfolio supervision.
• Confirm E&S risk ratings and provide independent clearance at key stages of the investment project cycle (e.g. corporate investment committee for high risk projects, public disclosure, investment review, Board approval, disbursement waivers related to E&S Action Plans during portfolio supervision).
• Act as institutional focal point for the Office of the Compliance Advisor Ombudsman ( CAO), IFC’s independent accountability mechanism, provide review and sign off on management responses to CAO investigations, facilitate response to all stakeholder complaints and advise operational teams in handling them, focusing on early action to prevent escalation.
• Work with relevant departments to maintain a highly qualified cadre of E&S specialists across IFC, including through training and certification of all E&S specialists and regional/global industry staff.
• Lead global coordination on E&S standards and issues, including with civil society organizations, other international financial institutions, “Equator Banks”, the UN system, and public and private platforms and associations leading global and national standard setting initiatives in the E&S area.
• Coordinate with relevant counterparts in IBRD/IDA and MIGA to ensure consistency on key policy issues and shared knowledge products across the World Bank Group.
• Serve as the corporate interface between IFC operational units, senior management, and the Board on E&S issues.
• In partnership with the corporate communications team, act as spokesperson for IFC and World Bank Group on E&S policy and risk issues.

Selection Criteria

In addition to the WBG managerial selection criteria*, the following qualifications are sought:

• Unquestionable integrity, commitment to development, alignment with the WBG core values, and strong work ethic.
• A Master’s degree or equivalent in a relevant discipline and at least 15 years of relevant work experience, with increasing level of responsibilities, in financial institutions focusing on emerging markets.
• Sound knowledge of E&S policy and risk frameworks such as IFC’s Sustainability Framework including IFC Performance Standards, and direct senior leadership experience in the E&S/sustainability field. Senior leadership experience, especially in ESG and Sustainability, in a private sector and/or IFI context, is strongly preferred.
• Demonstrated expertise, experience, and superior business judgment in managing the broad spectrum of E&S risks in the context of private sector development.
• Understanding of credit and investment risk fundamentals and how sustainability risk may impact underwriting and portfolio management. Experience with financial disclosures for sustainability risk and enterprise risk management would be a plus.
• Broad exposure to and understanding of IFC markets, including those in fragile and conflict-affected situations and IDA countries, and private sector development in those markets.
• Strong track record of leading innovation and culture change; proven ability to drive process improvement in risk systems and operational frameworks.
• Proven ability to lead cross-cutting initiatives across the institution and work across boundaries to build consensus, resolve problems, and foster teamwork.
• Strong written and oral communication skills, ability to convey complex issues clearly to both internal and external audiences.
• Ability to listen effectively and stand his/her ground when appropriate, as well as deliver difficult messages with tact at all levels, including internal and external counterparts and top management.
• Willingness to travel as and where necessary.

* World Bank Group-wide managerial competencies include: (i) Courage of your conviction, (ii) Leading the team for impact, (iii) Influencing across boundaries, (iv) Fostering openness to new ideas, and (v) Building talent for the future.

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.