IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets and the world’s largest multilateral source of loan and equity financing and advisory services for private sector in the developing world. 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. Working with 2,000 businesses worldwide, IFC draws on more than six decades of experience to create opportunities and solutions where they are needed most. For more information, visit www.ifc.org.
Financial Institutions Group (FIG) is one of the major industry groups at IFC. FIG engages in a wide range of sub-sectors including Microfinance, SME, Gender, Climate, Insurance, Capital Markets, Housing, Commercial Banking, Distressed Assets, and other areas, with both investment and advisory services delivered to IFC’s clients through IFC’s global network. Capital Markets is one of FIG’s main areas of strategic focus and future growth and it includes: i) working with clients, institutional investors, and other market participants to help create well-functioning fixed income and equity markets that crowd-in private sector investors; ii) developing vehicles, innovative solutions, and financial instruments such as debt funds, credit enhancement and guarantees, and other risk-sharing and capital optimization structures that enable long-term funding to MSMEs and the broader real sector; and iii) developing resilient and affordable housing finance markets that are accessible to households.. The Capital Markets team in Global FIG works in close collaboration with FIG’s regional teams, other industry and regional departments, Treasury, Sector Economics, and across the WBG to expand IFC’s activities and impact in emerging markets.
Sustainable investing is a key strategic priority of the WBG and FIG with climate, gender equality and inclusion critical to sustainable economic growth and development. IFC had set itself a very ambitious climate action plan and reach a climate target of 28% of total investments by 2020, and now to reach 35% between 2021 to 2025 (including energy efficiency, renewable energy, cleaner production and resource efficiency, waste and wastewater management, and green buildings). 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. Additionally, as part of the World Bank Group Climate Change Action Plan, FIG will use its resources, led by the FIG climate and sustainable Finance team, to align all of its investments over time with the Paris Agreement.
IFC strives to create private sector markets that provide economic opportunities to all, especially poor or socially disadvantaged groups focusing on gender and economic inclusion. IFC’s 3.0 strategy and the capital increase commitments, reflected in IFC’s Corporate Scorecards and its Key Performance Indicators (KPIs), emphasize the importance of closing gender gaps as a corporate priority. IFC has made four gender-related commitments for 2030 as part of the capital increase package that have been consistently met or exceeded. As a major contributor to the IFC gender- smart interventions, FIG’s activities will continue to focus on a) gender-specific investments, b) advice for clients and c) thought leadership in gender inclusion.
IFC is looking to identify a Global Manager who will lead its FIG Sustainable Finance business to continue to set the strategic direction of the business, identify and scale new and existing opportunities and manage the climate and gender and sustainability related portfolio. The individual will lead the FIG Sustainable Finance team globally. The individual will also be responsible for managing and maintaining the relationships with our existing climate business partners globally and identify new partners and donors.
The position will report to the Director of the Financial Institutions Group and will be based in Washington DC.
Duties And Accountabilities
The Global Manager Sustainable Finance will:
- Lead and manage the FIG Climate and Sustainability team to achieve its objectives and ambitious plans for investment growth and development impact.
- Collaborate closely with FIG global and regional management in developing priorities and strategies for climate and sustainability across regions.
- Lead and implement Paris Agreement alignment throughout the FIG business.
- Work closely with the WB’s relevant Global Practices to establish priority areas for joint efforts.
- Define and lead the development and implementation of all internal requirements associated to a growing business line.
- Coordinate with other units including the Climate Business Department, the new Gender Department, the other Industry Departments, IFC Treasury, the AMC, the Environmental and Social Risk Departments and others within IFC to ensure all the required support to develop new business opportunities and to efficiently manage both new investments as well as the existing portfolio.
- Provide strategic direction and focus for IFC/FIG’s activities across the relevant sectors.
- Provide leadership support and guidance to senior staff leading the unit’s lines of business.
- Manage and oversee the relationship with existing clients, working closely with other FIG client relationship and other units to ensure a cohesive and coordinated client approach .
- Oversee the provision of high quality and innovative support as needed to business development initiatives of the regional departments focusing on significantly scaling Sustainable Finance across all of FIG’s activities as critical areas of growth for FIG’s and IFC’s impact, own account commitments and mobilization.
- Reinforce quality standards in global and regional sectors and products and activities.
Leadership and Knowledge Sharing
- Provide leadership, professional development, and mentoring staff.
- Develop a comprehensive program for increasing the knowledge, training, and learning and sharing of within FIG and for its clients; disseminate lessons learnt.
- Serve as an internal and external thought leader.
- Master’s degree and a minimum of 12 years of relevant work experience.
- Ability to see the big picture of where sectors, industries, regions, and countries are, where they are heading, and where IFC can play a role in their development with respect to climate and sustainability finance.
- Able to establish senior-level relationships and bring together cross sector and organizational players within IFC, WBG, and other DFIs to define strategically important collaborative interventions (e.g., policy reforms, regulatory changes) to increase financing in emerging markets, reach potential in existing markets, and unlock untapped market opportunities for climate and sustainability finance.
- Proven track record of managing and motivating staff across different locations, becoming strong mentor and growing businesses, leading by example.
- Capital markets experience.
- Excellent people management skills and openness to feedback; new ideas and ability to guide staff to solutions to problems.
- Building organizational capacity through system and process improvements.
- Ability to develop innovative solutions and challenge the status quo to build the business.
- Recognized as a team player, leader, strategic thinker, and thought leader.
- Strong written and verbal communications skills; Fluency in English essential.
- Ability to collaborate closely with other Operations and non-Operations departments and across the broader WBG.
- Ability to represent IFC externally and to develop and manage relationships with clients, government, media, donors, and other stakeholders.
- Ability to work in the matrix, deliver high quality work within deadlines and to meet team objectives.
- Strong sense of service to clients and demonstrated business development aptitude.
- Sound business judgment; demonstrated ability to deliver results under stressful timetables and environment.
- Good “deal sense” based on demonstrated strong analytical skills and sound business judgment specially in Equity Business.
- Meet World Bank Group-wide managerial competencies: Courage of your Conviction, Leading the Team for Impact, Influencing Across Boundaries, Fostering Openness to New Ideas, Building Talent for the Future.
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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