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 2022, IFC committed a record $32.8 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.

Climate business is a key strategic focus area for the IFC. The need to address climate is urgent, with global carbon budgets set to be depleted in less than two decades. Following the Paris Agreement, 147 countries around the world submitted their Intended Nationally Determined Contributions (INDCs) with pledges to reduce greenhouse gas (GHG) emissions under the United Nations Framework Convention on Climate Change. To achieve these climate targets, many countries have created policy packages to green their economies. Green financing needs however remain unmet, indicating a significant untapped potential for banks to grow their green financing products and services. The green financing gaps will only be bridged if commercial banks adopt strategies and targets to develop green finance products and services to support the real economy in the green transition.

The Financial Institutions Group (FIG) is one of three major industry groups at IFC, responsible for managing roughly 40% of IFC’s overall business in terms of volume and capital at risk. FIG contributes a critical piece to the IFC’s climate program and ambitions by building climate markets globally and providing thought leadership in new high-growth areas for climate finance. IFC recognizes that financial institutions are central to these efforts and that they will be needed to support regional markets to transition to low-carbon economies, including via offering new financial products.

The Alliance for Green Commercial Banks (The Alliance) is a global initiative convened by FIG and targeted at commercial banks dedicated to Green Financing, including the first members of the Alliance (Cornerstone Banks), other financial institutions, research institutions, and innovative technology providers. These institutions will work under the Alliance to develop a community of financial institutions in emerging markets that will work collectively to finance the infrastructure and business solutions needed to urgently address climate change. The main objectives of the Alliance will be to: (i) build a membership base of banks committed to leading a green and sustainable transformation in the markets that they operate; (ii) support banks to build their technical capacity and know-how to accelerate their green and sustainable transformation and (iii) develop a community in emerging markets focused on financing the infrastructure and business solutions needed to advance sustainable economic development.

The Alliance will be implemented in partnership with regional anchors. The Hong Kong Monetary Authority (HKMA), Hong Kong’s central banking institution, is a regional partner of the Alliance and is the inaugural and sole Regional Anchor for the Asia Chapter. One of the HKMA’s main functions is to maintain Hong Kong’s status as an international financial center, including the maintenance and development of Hong Kong’s financial infrastructure. The HKMA is committed to promoting green and sustainable finance and collaborating with local and global stakeholders to address climate risk. For more information on the HKMA, please visit www.hkma.gov.hk/eng/.

Roles and Responsibilities

IFC is seeking a Principal Operations Officer and Head of the Secretariat for the Alliance. The Secretariat has been established to administer and oversee the day-to-day work of the Alliance and to support the Alliance to deliver on its mandate. The Secretariat will be initially comprised of two full-time staff members dedicated fully to duties of the Alliance and will incrementally add capacity to respond to demand for membership into the Alliance. The Secretariat will also benefit from an advisory board (Advisory Board), which has been established to provide general advice to the Secretariat.

Promotional Activities
•  Promoting and developing the Alliance with assistance from the Regional Anchor(s) and the Cornerstone Banks.

Membership Support
•  Overseeing the end-to-end candidate and membership process for the Alliance;
•  Developing, recommending and updating the criteria and the process for the admission of membership to the Alliance, renewal or termination of members (Members) and Cornerstone Banks in consultation with the Regional Anchor(s), the Membership Technical Panel, subject to IFC’s satisfactory integrity due diligence requirements;
•  Administering the Binding Terms of Membership and the Governance Rules for the Alliance in consultation with the Regional Anchor(s), the Cornerstone Banks, and/or the Members, as appropriate;
•  Coordinating the Membership Technical Panel selected through the World Bank Group procurement process; and
•  Developing, recommending, and updating the criteria, process and terms of reference for engaging prospective third-party verifiers for the Alliance in consultation with the Regional Anchor(s) and the Membership Technical Panel.

Relationship Management 
•  Managing the Alliance’s relationships with Candidates and Members, advising and delivering a range of different activities to them (e.g., training, mentorship, study tours, etc.) to support them in acquiring the capacity, knowledge and tools they need to meet the criteria established by the Alliance;
•  Managing the Alliance’s relationship with its Regional Anchor(s) and coordinating with them on the Alliance’s activities;
•  Managing the Alliance’s relationships with Cornerstone Banks with the support of the Regional Anchor(s), including convening meetings and coordinating the delivery of activities to support Candidates and Members of the Alliance; and
•  Managing, overseeing and addressing procedural enquiries received from Regional Anchor(s), current and prospective Members and Cornerstone Banks.

Communications, Representation and Advocacy
•  Managing and overseeing communications and publicity, including the website, press releases and general updates for the Alliance;
•  Representing the Alliance at the technical level (working groups, meetings, conferences etc.) as appropriate and serving as a focal point of the Alliance regarding information requests and outreach on a daily basis; and
•  Acting as the liaison between donors, international stakeholders, public actors, legal counsel, experts, civil society organizations and/or any other financial market participants on any matters concerning the Alliance.

Annual Reporting and Continuous Disclosure
•  Managing and overseeing the preparation of the annual report for the Alliance and it’s posting on the Alliance website with respect to the Alliance’s performance, targets and use of resources;
•  In consultation with the Regional Anchor(s) and the Membership Technical Panel, producing, recommending and updating the form of questionnaire for the Members’ annual disclosure; and
•  Developing the Alliance’s fee policy and budget in consultation with Regional Anchor(s), subject to IFC’s internal policies and procedures for financial reporting and approval.

Advisory Board Support
•  Supporting the work of the Advisory Board, including preparation of the agenda, appropriate documentation and minutes for Advisory Board meetings and associated working groups (where necessary).

Internal Stakeholder Management
•  Coordinating closely with FIG’s regional and global climate teams and relevant IFC departmental functions linked to climate finance (e.g., the Climate Business Department) in order to drive synergies, ensure strategic alignment and leverage available knowledge and resources.