Digital Financial Services- Senior Operation Officer
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, please visit www.ifc.org.
IFC & Digital Financial Services:
IFC, along with several other international development agencies, see digital financial services (DFS) as an important way to bring low-income people into the formal financial system in ways that are efficient and cost-effective for both operators and users. The experience of digital financial services – digital banking, agent banking networks, mobile money operations, payment service banks, payment switches has led to a significant expansion in financial access across many countries.
Increasingly, the focus of digital financial services has widened to include an ecosystem approach to enable better access for agri-value chains, distribution structures, embedded finance, insurance, digital IDs, supply value chains as well as micro small and medium enterprises (MSMEs) has created both opportunities and challenges for the broader market. In supporting digital financial services, IFC works with multiple players to among others; 1) business model definition and refinement; 2) agent network management, 3) market research to define needs (and willingness to pay) of low-income consumers; 4) understanding barriers to the uptake of innovative technologies among the poor; and 5) consumer education; 6) product design, 7) partnership design. IFC adopts a wholistic approach that includes device strategy, technology infrastructure, data management capabilities, and/or agent-enabled models that have potential for improving access to financial services for the poor.
IFC works with regulators, other development finance institutions, financial sector providers, including Banks, fintech’s, Microfinance Institutions (MFIs), mobile money operators, payment services providers (PSPs), in sure techs, insurance companies with the aim of building large-scale, sustainable, and competitive ecosystems for mobile financial services. This enables a range of different players to extend services to the market, and particularly to low-income people. This includes supporting improvement in the regulatory environment and government policies. IFC works with clients using technical assistance. It also has operational and knowledge partnerships with like-minded institutions with an interest in digital financial inclusion, including CGAP, The IBRD, UNCDF and GSMA.
Position Summary:
IFC seeks to recruit a highly motivated Senior Operations Officer with extensive hands-on experience supporting digital financial services. The Senior Operations Officer is expected to have experience working with financial service providers, fintechs, payment companies, central banks in designing strategies and deploying best in class digital financial services. The specialist should be creative, able to provide new innovative solutions and structures, and embed them in ecosystems including agricultural value chains, supply chain, distribution, social payments among others.
This role is to identify investments opportunities in the digital and telecoms space (in collaboration with the infra team), digital financial services opportunities, support implementation of projects, identifying project staffing needs, execute transactions and actively manage portfolio projects.
IFC is a multicultural environment, and the specialist is expected to be agile, easy to adapt, able to manage teams across different markets and work in complex environments. The specialist should have the acumen to link the advisory and upstream projects to future and current investments.
Specifically, the Senior Operations Officer will do the following:
Business Development
• Contributing to development of a strong pipeline of good quality upstream and advisory opportunities to improve financial inclusion and support investment teams to identify opportunities by anticipating market trends, employing sector country knowledge and sourcing innovation/technology providers.
• Develop innovative and appropriate financial structures for complex transactions. Execute IFC’ project development with a strong focus on achieving bankable projects.
• Participate in negotiation documentation teams; use strong negotiation skills to develop solutions and overcome impasses in straightforward and complex transactions.
• Maintain and nurture good relationships with existing clients and develop new partnerships with clients with technological and innovative added value required to fulfill IFC’s mandate. Understand and proactively manage client needs while looking out for IFC’s interest.
• Develop new opportunities in Digital investment (fintechs, payment service providers, embedded finance, digital transformation, neo banks, MNO JVs/SPVs, connected devices)
• Identify opportunities for the Investment team to leverage work of Advisory/Upstream in building digital products that can create investment opportunities for IFC.
• Support investment teams to process transactions by providing specialist knowledge of the operating environment.
• Liaise with support departments to ensure existing projects adhere to IFC’s policies and standards.
Portfolio management
• Manage relationships with existing and future clients.
• Ensure projects in the sub-region are professionally managed and staffed and meet IFC’s quality standards.
• Provide quality control for clients by supporting implementation of specific workstreams on client projects.
• Understand and apply IFC’s Operational Procedures and New Business Operations and Supervision processes.
• Prepare supervision reports for assigned projects
• Identify early warning signals for the assigned projects and where necessary, formulate and implement intervention strategies for workouts, restructuring or rescheduling
• Identify opportunities for further business with existing clients in the areas of investment, technical assistance activities (e.g., sustainability) and financial services (e.g., clean technology)
• Conduct sector and market research and help prepare country and sector strategy papers, briefs and project profiles. This would require working closely with the World Bank country and sector teams Extract and feedback lessons of experience from IFC’s earlier projects.
Knowledge management and research
Research and Evaluation
• Participate in and lead topical research efforts pertaining to DFS payments, financial inclusion, Agri DFS among others.
• Working closely with knowledge management leads, support the development of knowledge guides and practice notes related to DFS seeking to summarize and publish learning under relevant programs.
• Contribute to the design and development of internal and external knowledge sharing events to share product lessons and experience and learn from others.
• Support global dissemination of knowledge through participation in regular practice group meetings with peer specialists, conducting appraisal missions in other regions and on-going contribution of client-tested tools.
Resource Management
• Support the identification and selection of specialist short-term consultants/firms to deliver specific programs of work with clients.
• Help raise additional donor funding for the DFS program in the region.
Selection Criteria
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• Master’s degree with at least ten years’ working experience or a bachelor’s degree with at least twelve years working experience in implementation of digital financial services.
• Senior management and operational experience in emerging markets, preferably with at least 10 years of experience of using technology to expand reach of financial services to low-income populations.
• Ability to think creatively and structure innovative solutions.
• Excellent client relationship skills, with an ability to engage in strategy discussions at senior management levels in payments, banks, MFIs, fintech’s.
• A proven record of accomplishment of business development and delivery in a consulting context.
• Strong familiarity with international best practices and global trends in digital financial services and payments systems.
• Experience working in Africa and preferably at least one other region of the world. Willingness and ability to travel extensively.
• Experience in diagnosing and preparation of digital transformation roadmaps and diligence exercises for advisory engagements or investments in emerging market financial institutions, payments, e-money services, or third-party payment providers. A demonstrated ability to identify problems and propose solutions to clients.
• Excellent communications skills, verbal and written, in English. French language ability a strong plus. Ability to communicate in Portuguese or Spanish would be an advantage but is not mandatory.
• Ability to work effectively in teams, communicate ideas clearly and confidently, articulate issues and recommend solutions.
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.
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