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

IFC has embarked on an ambitious new growth strategy (IFC 3.0) to stimulate more investment activity, especially in Low Income Countries (LICs) and Fragile and Conflict affected Situations (FCS). This strategy calls for generating our own opportunities by proactively working “Upstream” to create, deepen, and expand markets and to imagine, design and implement investment projects. It requires taking a systematic approach to understanding the regulatory and sector bottlenecks that prevent the flow of private capital into productive investment in our member countries and addressing these bottlenecks through World Bank Group engagement on policy reforms and programmatic interventions at the country and sector level. It also requires capacity to leverage WBG programs and projects to develop our own proactive sector interventions and to imagine and design projects even in the absence of reforms.

The Financial Institutions Group (FIG), one of IFC’s industry departments, supports projects in numerous financial sub sectors, partners with local financial institutions, develops domestic and regional equity and debt markets and introduces new financing instruments. 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. The goal is to develop efficient financial systems that will increase financial inclusion and fuel economic growth in client countries and enhance IFC’s developmental impact.

The FIG’s Middle East, Afghanistan, Pakistan, Central Asia, and Turkey (FIG MCT) team is based across the region with main hubs and locations in Istanbul, Dubai, Karachi, Amman, and Almaty. The team members work on both new business development and processing, and portfolio management across the region.

FIG is seeking an Investment Officer with expertise in the banking and financial sector with a deeper understanding of digital financial services. The selected candidate will focus on supporting the development of a high-quality pipeline in the Middle East, Central Asia and Turkey (MCT) region under the supervision of the Regional Advisory/Upstream Manager. S/he will also be expected to directly support the investment team which originates, manages and monitors IFC’s financial sector investments, including investments that support the institution’s regional expansion across MCT.

Role & Responsibilities:

The roles and responsibilities of the position will include but not be limited to:

• Support the identification and assessment of FIG advisory and investment opportunities in the digital space based on country and sector strategies and market creation potential and providing advisory support to IFC clients on digital transformation efforts (channels, products, processes, partnerships, etc.) leading to IFC investment.
• Support clients to develop digital transformation strategies with the implementation of a strong and sustainable business model
• Conduct gap analysis on client capabilities and provide recommendations for areas of investment and advisory support in digital transformation
• Assist clients in developing business plans, project budgets, and implementation plans for digital transformation projects
• Managing design of innovative/digital financial service products for mass and MSME market and deployment of credit scoring models for digital lending products.
• Contribute to the development of DFS projects and programs, including market studies and client diagnostics, and successfully designing and implementing sector and client level engagements leading to future investments or supporting current FIG clients.
• Participate in a range of digital economy DFS sector assessments and financial and business case analyses.
• Help spot game-changing trends, technologies and business models that can bring solutions to emerging markets, with an emphasis on expanding the role using digital to underpin inclusion and climate finance solutions.
• Produce regular reports on the assigned portfolio including monitoring progress against project milestones and KPIs.
• Contribute to sector-specific data analysis and stress-testing of various operating models to help generate ideas for new projects, new products and platform businesses.
• Work with the World Bank to analyze sector and regulatory reforms that are needed to unlock opportunities for private investment.
• Collaborate with stakeholders and form partnerships with staff across IFC and the World Bank Group, sponsors, clients and other external parties responsible for activities in the digital space to enable delivery of projects and participate in developing and implementing DFS strategy, reform roadmaps and support country-specific policy work. 

Selection Criteria

• Master’s degree or equivalent qualification in Business, Finance, Economics, or other relevant field.
• At least 8 years of relevant experience in project and/or program development, producing feasibility studies, hands-on advisory and/or consulting functions in the digital finance space serving emerging markets.
• Thorough understanding of banking, financial institutions, and Digital Finance industry knowledge and ability to identify risks and opportunities.
• Solid track record of experience related to development and implementation of digital transformation and/or digital bank experiences; forging partnerships with fintech and/or NBFIs and leading technical teams
• Strong experience in the banking, fintech, and financial sector, including a solid operational understanding of commercial banks and other financial entities in emerging markets with track-record of supporting origination, structuring, processing, negotiating, and closing investments.
• Outstanding analytical and critical thinking skills including the capacity to innovate and challenge the status quo and experience in new idea generation, business development, and creating projects/programs from scratch.
• Understanding of the digital financial services and fintech sectors and ability to link policy reforms, advisory interventions, investment, and mobilization to deliver solutions at a country level via the Cascade approach.
• Ability to engage with private sector clients, local and national governments and other stakeholders to encourage pioneering business and market development.
• Experience in monitoring and reporting on a portfolio of projects/programs/initiatives.
• Genuine commitment to development and to the World Bank Group and IFC’s mission, strategy and values.
• Understanding of IFC’s strategic priorities and changing business model against the backdrop of IFC 3.0.
• Strong written and verbal communications skills in English.

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.