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 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.

IFC has embarked on an ambitious new growth strategy 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) is one of the major industry groups at IFC, responsible for managing roughly 40% of IFC’s overall business in terms of volume and capital at risk.  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 delivered to IFC’s clients through IFC’s global network.

The FIG Upstream Advisory Unit in Latin America and the Caribbean (LAC) seeks to create opportunities for new private sector led investments in the region by developing a pipeline of investment-ready opportunities made possible using distinct tools and interventions, including investment structuring, advisory and policy reform. The objective of the unit will be to enhance the next generation of FIG investments across priority sectors in the region.

IFC is seeking an FIG Financial Inclusion Lead for its Financial Institutions Group in LAC, responsible for delivery of its integrated financial inclusion related investment, upstream and advisory solutions in the region.

Duties and Accountabilities:

Anticipated scope of duties and responsibilities during the assignment include the following as it relates to financial inclusion. The objective is to support financial institutions to enhance their microfinance and small and medium enterprise (MSME) finance – prioritizing the microfinance sector – as well as in different minority subsegments within the MSME markets such as refugees and migrants, women, Afro-descents, LGBTQ communities, etc:

• Develop an integral FIG LAC Financial Inclusion strategy to significantly increase our investments in this sector and US/AS portfolio in line with our overall FIG and Regional/Country strategies.
• Lead business development efforts with financial institutions – along with Investment Officers – to support the growth of FIG operations. This includes:
o support the analysis of the bankability of leads, profitability, development impact and additionality.
o Propose suitable structures for such deals, including potential AS/US support to strengthen the FIs operations, IFC’s additionality and development impact
o Work with the Investment team in negotiating and structuring transactions with clients; as well as assessing the viability of client MSME operations
• Lead the US/AS team to identify constraints to financial inclusion related private sector investment as input to market creation decisions and country diagnostics; identify needed market and regulatory reforms and design and implement sector interventions to create enabling environments; identify and implement business models and opportunities for new approaches that can accelerate connectivity within the region or across countries and sectors.
• Design targeted AS/US client engagements that support FI clients to develop financial inclusion value propositions, financial and non-financial products, digitalization, improve credit underwriting, and risk management to address market demand and challenges.
• Disseminate knowledge and experience across the FIG sectors to support adoption of new approaches and best practices and interact with global and regional experts in this area.

Selection Criteria

• MBA or equivalent professional qualification and a minimum of 15 years relevant work experience.
• Minimum twelve years of relevant financial markets experience in emerging markets in banking, and/or management consulting; with a focus on financial inclusion/MSME finance segments; with a proven track record of sourcing, structuring, and closing investments.
• Business development and client relationship skills, track record and ability to focus on client’s needs to identify business opportunities, discuss structuring alternatives, and resolve issues.
• Ability to develop innovative solutions to significantly build the investment business.
• Good team player with strong interpersonal skills, and commitment to work in a respectful, team oriented and multi-cultural environment.
• Ability to collaborate closely with other parts of the World Bank Group and other financing institutions and banks.
• Ability to plan and manage teams to achieve high quality results and encourage innovation in an open team-based environment, inspiring trust and influencing and resolving differences across organizational boundaries.
• Excellent oral and written presentation skills in English and Spanish are required; Portuguese is preferred.
• Willingness to travel.

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.