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.
Our financial products enable companies to manage risk and expand their access to foreign and domestic capital markets. Our equity investments provide developmental support and long-term growth capital that private enterprises need. We invest directly in companies’ equity, and through private equity funds. We currently manage an equity portfolio of over $14 billion and close to 250 positions with board nomination rights.
IFC nominates directors to serve on the boards of client companies in which IFC invests equity to add value to such client companies’ management and operations and create shareholder value through efficiency, effectiveness and good corporate governance. To better support our nominee directors, IFC established a Nominee Directorship Center (the ND Center), housed in the Legal and Compliance Risk Vice Presidency Unit. The role of the ND Center is to harness expertise from across IFC and the private sector in order to pro-actively, strategically and systematically support IFC Nominee Directors in adding value consistent with IFC’s development mandate.
Led by the Senior Program Manager, the Center works in partnership with IFC’s Global Equity and Portfolio teams. It draws on the expertise of experienced IFC staff who remain fully embedded in their respective functional units while also contributing to the delivery of the ND Center.
The ND Center is seeking to retain an Extended Term Consultant to conduct:
• best practice research to support IFC Nominee Directors
• market research on PE Funds practices with nominating directors to the board of portfolio investee companies.
This work will lead to establishing good practices and inform IFC’s own work with Funds.
Scope and Deliveries:
• Produce Research Digests and tip sheets based on requests from nominee directors.
• Review and update the structure of the nominee director web library.
• Update the structure of the nominee director web library and oversee postings
• Review literature on fund governance and nomination of board directors
• Develop questionnaire for interviews with PE funds
• With the support of the funds department, Identify PE Fund managers to interview on nomination practices
• Produce report with findings and practice recommendations
• Convey working group of internal and external experts to peer review recommended practices
• Develop recommendations for the ND Center to support funds department
In addition, the ETC will be expected to collaborate with team members and support the ND Center’s deliverables.
• Master’s degree in law, finance, or a related field, plus a minimum of 5 years of directly relevant professional experience;
• Experience working with investment funds;
• Ability to conduct market and industry research and analysis;
• Understanding of corporate and fund governance;
• Understanding of IFC’s investment business, work culture, mission/purpose, development context;
• Ability to analyze, distill and summarize large amounts of information and then synthesize;
• Ability to actively listen as proven by being attentive and listening to others in order to identify client and stakeholder needs;
• Ability to manage and complete multiple projects/tasks simultaneously and to meet deadlines under pressure;
• Highly motivated, committed to highest ethical standard, ability to work successfully in multicultural teams and across boundaries;
• Ability to work independently and demonstrate sound judgment on what to escalate;
• Clear, concise, and cogent writing skills and ability to provide concrete recommendations;
• Genuine commitment to sharing knowledge and expertise;
• Diplomacy and ability to work with individuals from diverse cultures and backgrounds;
• Highly personal integrity, strong values, and ethics.
World Bank Group Core Competencies
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