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.

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 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 Climate, Microfinance, SME, Gender, 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 Climate business is one of the strategic priorities of the WBG.  IFC has set itself a very ambitious climate action plan and target – including energy efficiency, renewable energy, cleaner production and resource efficiency, waste and wastewater management, and green buildings – and has committed that 100% of all investments will be Paris aligned by 2025. To contribute to those targets, FIG has already quadrupled its climate finance investments over the last three years, working with FIs to scale up their financing of climate friendly projects. The focus is to support IFC’s client banks and non-bank financial institutions build viable and scalable climate finance operations, leveraging capital markets as well as their client base and partnerships with real market and government players to promote Paris Alignment objectives.

The FIG LAC Upstream (US) and Advisory (AS) Unit 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, and advisory. The objective of the unit will be to enhance the next generation of FIG investments across priority sectors in the region that promote net zero/decarbonization national strategies.  

IFC is seeking an US and AS Climate Lead for its Financial Institutions Group in Latin America and the Caribbean (LAC), responsible for the delivery of integrated investment, upstream and advisory solutions in climate finance. This will be done in close collaboration with the Industry Managers for LAC, to ensure high-impact upstream and advisory services projects that create new investment opportunities in climate finance; with a particular focus on defining new capital markets structures and asset classes.  This specifically involves 1) incubating high impact projects and initiatives that require upstream project development to reach the point of investment and 2) getting potential clients ready for IFC climate related investment through advisory services engagement; particularly as it relates to climate risk given IFC’s Paris Alignment commitments.

ROLE AND RESPONSIBILITIES

The US/AS Climate Lead will have a range of evolving responsibilities in line with climate related strategic priorities of FIG LAC.  Anticipated scope of duties and responsibilities during the assignment include the following:

•  Lead the design and implementation of FIG US/AS climate projects and develop a strong pipeline of quality climate investment opportunities for IFC by employing knowledge and experience of financial markets, climate market trends and industry standards – such as Paris Alignment.
•  Ensure the design and implementation of new FIG US/AS high-quality climate finance project pipeline, in collaboration with the FIG investment team to ensure strong alignment with the FIG investment and Paris Alignment strategies, WBG and IFC regional and country strategies and IFC ESG standards.
•  Identify game-changing regulatory reform, business models and trends that can present opportunities for new climate related capital market structures and asset classes; including business models leveraging digital innovation related to for example agritech solutions.
•  Lead US/AS climate client engagements to support them in implementing climate related standards such as Paris Alignment, etc. to ensure the viability of climate related IFC investments.
•  Work closely with investment colleagues to develop and manage client relationships and foster cross departmental collaboration to meet client-specific requirements.
•  Engage with the IBRD to identify and contribute to sector and regulatory reforms that support opportunities for FIG related climate investment.
•  Disseminate and absorb knowledge and experience across the regional industry department and global teams to support adoption of new approaches and best practices.
•  Engage with officials within World Bank, governments, other development organizations, and the private sector to identify joint and IFC US/AS and investment opportunities.
•  Mentor and support junior staff working on Upstream activities.

Selection Criteria

•  Master’s degree or equivalent professional qualification in Business, Finance, Economics, or related discipline, and a minimum of 15 years of relevant experience.
•  Deep understanding of the financial industry and ability to link policy reforms, climate industry standards including climate risk and decarbonization approaches, advisory interventions, investment, and mobilization to deliver climate related solutions in the region.
•  Experience in management consulting for the financial sector, investment banking, capital markets and structured finance.
•  Track record of engaging with private financial sector clients, local and national governments, and other stakeholders to encourage pioneering business and market development.
•  Demonstrated capacity for innovating and challenging the status quo to develop business opportunities, particularly in capital markets.
•  Demonstrated capacity for collaborating across organizational boundaries to shift organizational behavior and generate buy-in.
•  Strong “deal sense” and understanding of bankability criteria to support IFC investments.
•  Outstanding analytical and critical thinking skills; demonstrated ability to synthetize complex information and make concrete strategic and tactical recommendations.
•  Excellent people and communication skills, openness to feedback and new ideas, and ability to guide, and motivate others.
•  Excellent oral and written presentation skills in English and Portuguese are required; Spanish 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.

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