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). This strategy aims to create new opportunities for private investments in riskier markets and sectors by proactively working “upstream” to create, deepen, and expand markets and design and develop potential investment projects. Achieving these growth and impact ambitions at scale requires a different approach to business development, deal sourcing, and client support that relies on 1) a broader product offering to engage earlier in the project cycle and secure opportunities; 2) a greater focus on preparing clients in nascent markets and sectors for investment; 3) a greater focus on value addition and risk management of portfolio investment clients to enhance their performance; and 4) a longer time horizon and a more patient, longer-term perspective.
To support this approach, IFC is seeking an Operations Officer (OO) specializing in Capital Markets to support strategic priorities for the FIG department of the Africa region. The OO will be responsible to support the department’s efforts to enable investment opportunities, enhance investment outcomes, and improve investment conditions – critical activities for the corporation to deliver on its ambitious strategy. The mix of these varied activities should be calibrated to meet the development needs of the market and contribute to IFC’s growth and impact objectives.
The OO will be based in Addis Ababa, Ethiopia and is expected to frequently visit (travel permitting) other offices where their team and clients are based.
Duties and Accountabilities:
The OO will be responsible for the technical oversight of FIG Upstream and Advisory services projects in the region with primary emphasis on Capital Markets, and how it can be leveraged to drive priority areas in Housing Finance, Climate Finance, and MSME Inclusion. They will be responsible for delivering market-leading client solutions by leveraging local and regional resources. IFC designs and implements capacity building to strengthen clients’ institutional capabilities to better serve underserved market segments, usually following a comprehensive diagnostic assessment and knowledge resources.
IFC’s FIG Advisory Services aims to deliver innovative solutions to support target clients’ objectives to expand and grow their business, in line with IFC’s country strategies to address development challenges. The OO should have demonstrated experience in structuring, negotiating, and implementing successful technical assistance programs for regulators and financial institutions, and an ability to clearly communicate and present the deliverables to senior stakeholders. The OO would play an instrumental role in helping FIG Upstream and Advisory deliver its targets, especially those related to signing new projects, effective project delivery and management and contributing to the team’s knowledge management initiatives. His/her specific responsibilities in each of these areas include the following:
i) Business Development
• Lead/organize business development efforts through market analyses. Engage with the relevant teams at the World Bank and IFC for reforms needed to unlock new markets and work collaboratively across teams.
• Work closely with IFC Investment and other internal teams in pipeline identification, particularly for priority markets requiring capital markets development, and entities in these markets that will be issuing capital markets instruments.
• Working with the project teams, improving our FIG Upstream and Advisory Value Proposition, lead the preparation of pitch books and project proposals including project objectives, scope of work, key deliverables, timelines, and budget with input from the client and relevant IFC staff.
• Lead the presentation of project proposals to get buy-in from stakeholders for the projects.
• Have overall responsibility for the quality and timelines of the internal project-related documents such as Implementation Plans, Budgets and Legal Agreements.
ii) Client and Stakeholder Management:
• Have overall responsibility for managing senior level client relationships and articulate IFC’s value proposition, leading to increased development impact supporting Investment Services.
• Hold knowledge transfer sessions, lead diagnostics with the client, and act as the technical lead for Upstream and Advisory Services projects as per area of specialization.
•Provide oversight supervising the team project implementors and experts to ensure consistency in the approach and high standards of delivery that meet client expectations.
• Work collaboratively with Investments to align Upstream and Advisory to help close pipeline investment projects and provide solutions to key portfolio clients.
iii) Technical Expertise
• Collaborate with Client Engagement staff as well as industry specialists in the design, pitch negotiation of client solutions.
• Lead the delivery of advisory projects in Capital Markets.
• Contribute to the development or review of and relevant project documents and client deliverables and in the related approval processes. Participate in senior level client meetings to provide technical advice, monitor progress, address challenges/ issues to successfully implement project recommendations.
• Improve the design and delivery of client solutions in Capital Markets, by incorporating global best practices and lessons from previous projects.
• Partner with the Monitoring & Evaluation team in the development of appropriate theories of change and results frameworks and indicators to strengthen the development impact and sustainability of client solutions and continuously learn from client projects/ engagement.
(iv) Knowledge Sharing/Creation
• Identify and participate in /conferences to highlight IFC offerings and value proposition, which includes serving as panelists/ moderator for internal and external events related to thematic area.
• Conduct research to shape on-going and future offerings in thematic area and develop new tools and guidance to incorporate internal and external best practices.
• Conceptualize and lead knowledge management initiatives.
(v) Capacity Building
• Design and deliver training for Upstream and Advisory Services staff, e.g., to build technical skills, client management capabilities.
• Share knowledge with Investment staff and other key internal stakeholders to better enable them to be Upstream and Advisory Services champions, and for external stakeholders to generate interest in thematic areas and understanding of why it is important/ advantageous to businesses, business climate, community and/or economy.
• Build tools and methodologies for enhancing the Upstream and Advisory delivery capacity, especially in the region. Support junior staff and strengthen their technical capacity; work with FIG US AS Manager to identify and address training needs.
Selection Criteria
• A Master’s Degree in Business, Economics, Finance, International Development, or related fields, or equivalent professional experience.
• Minimum of 8 years of experience in commercial banks, consulting firms, or development financial institutions (ideally in an Upstream and/or Advisory capacity).
• In-depth knowledge of Capital Markets, solid understanding of commercial banks, the broader financial sector, and the Africa region in general.
• Strong business development track record including ability to design, negotiate and lead efforts to develop and sell client offerings that reflect in-depth knowledge of thematic area and communicate the IFC value proposition effectively to clients.
• A strategic thinker with an ability to see the “big picture” of country, regional and global private sector development challenges, and an ability to identify how emerging market trends may create opportunities to refine FIG Upstream and Advisory products for increased uptake.
• Ability to design research and analytical projects to produce new understanding of a thematic issue and/or potential opportunities to unlock new markets or new streams of business.
• Strong project management and team leadership skills and an ability to develop and drive strategies and work with multiple stakeholders.
• Strong organizational skills with an ability to work under time pressure, respond to ad-hoc shifts in client priorities, unstructured situations and unexpected events while maintaining order and professional delivery.
• A keen interest in strengthening the financial sector in emerging markets.
• A strong team player with an ability to work in multicultural environments.
• Willingness and ability to travel extensively and work across time zones.
• Ability to communicate ideas clearly and confidently, both orally and in writing.
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.
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