E T Consultant
JOB DETAIL
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. Our mission is to leverage the power of the private sector to end extreme poverty and boost shared prosperity on a livable planet. For more information, visit www.ifc.org.
As part of the IFC’s dynamic and market-oriented operations, the Model Risk unit in the Corporate Risk Management Department (CRMMM) is responsible for validating the financial models across the IFC.
The Corporate Risk Management Model Risk Team (CRMMM) is seeking a dynamic, motivated, and experienced quantitative professional with a strong financial modeling and model validation background and excellent verbal and written communication skills to join their team to validate the Private Equity models used in IFC.
Role & Responsibilities:
The successful candidate will:
• Be responsible for working with the Private Equity stakeholders within IFC to develop model risk management procedures aligned with industry best practices to govern model risk pertaining to IFC’s Private Equity portfolio.
• Review and assess existing model risk governance, modeling, valuation, and model risk mitigation protocols for IFC’s equity portfolio and provide recommendations for improvement, thereby formulating an appropriate procedure for IFC.
• Be responsible for validating/reviewing models used for IFC’s Private Equity and Quasi-Equity, including warrants, embedded options, convertibles, etc.
• Assess the underlying assumptions and implementation of discount cash flow models, such as dividend discount models and free cash flow models, as well as market-based comp approaches, such as price-to-earnings, price-to-book, EV/EBITDA multiples, EV/Sales multiples, etc.
• Ensure that the private equity models are being used appropriately based on the specific sectors such as financial, infrastructure, manufacturing, fintech, & disruptive technology. This includes ensuring that the models are standardized (where applicable) and use the appropriate templates. Where applicable, be able to review spreadsheet models.
• Provide effective challenge while validating/reviewing models and be able to challenge using factual and sound arguments as well as judgments.
• Provide support to the Senior members of the Model Risk Team to evaluate models as well as memos submitted by various stakeholders to the management, any Steering Committee, Valuation Committee, Investment Review Committees, and Corporate Risk Committee.
• Ensure that any model development/remediation plans are implemented within appropriate timelines and proactively follow up with the Modeling Team and other stakeholders to highlight and resolve issues, including escalating unresolved issues to the Senior members of the Model Risk Team.
• Assist in validating other models, as required.
• Perform industry research on upcoming and state-of-the-art models to help the Team provide effective challenges and ensure that IFC is aligned with industry standards.
• Revalidate previously validated models to meet the Model Risk policy and Audit requirements.
• Create and maintain model validation documentation with adequate testing to meet the Model Risk policy and procedures.
• Ensure timely response to queries and requests.
• Meet deadlines and achieve agreed-upon results.
• Actively seek knowledge needed to complete assignments and share knowledge with others.
Selection Criteria
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• MS or higher degree in Finance, Financial Management, Econometrics, Statistics, or equivalent.
• At least 7 years of relevant experience in Private Equity models, markets, and related products.
• In-depth experience with validating and reviewing models for several years would be a strong plus.
• An excellent understanding of discount cash flow models, such as dividend discount models, free cash flow models, market-based comp/multiples approaches, etc., is a must.
• Thorough knowledge and exposure to Private Equity in one or more sectors, such as financials, infrastructure, manufacturing, fintech, and disruptive technology, is a strong plus.
• Exposure to Private Equity and related models in the emerging market space, such as the ones IFC is involved with, would be a strong plus.
• Able to determine appropriate modeling and valuation techniques and to construct models consistent with market practice.
• High proficiency in Excel (including VBA), MS Word, MS PowerPoint, Python, and statistical software packages such as Matlab, R, etc. would be a strong plus.
• Strong quantitative, analytical modeling, and model validation skills.
• High degree of motivation and commitment to the highest ethical standards.
• Strong desire and motivation to learn different types of quantitative financial models and willing to take on challenging model validation tasks, even if it is outside the comfort zone.
• Be able to challenge the counterparts who develop the models and ability to handle difficult discussions, including being able to push back and say “no”.
• Strong interpersonal and communication skills.
• Excellent written and verbal skills in English
• Ability to work under pressure and multitasking.
• Excellent team player and ability to work with colleagues from diverse backgrounds.
World Bank Group Core Competencies
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.
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