E T Consultant-Legal Officer
Job #: req23518
Term Duration: 1 year 0 months
Recruitment Type: Local Recruitment
Required Language(s): English
Preferred Language(s): French
Closing Date: 7/26/2023 (MM/DD/YYYY) at 11:59pm UTC
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 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. For more information, visit www.ifc.org.
The Legal Department of IFC (CLED), under the General Counsel and Vice President, Risk & Sustainability, is responsible for providing legal and policy advice to the IFC Board, its Management and client departments on operational, advisory and corporate matters. Specifically, CLED supports client departments in the delivery of IFC’s annual program of financing private sector projects in emerging markets, advisory services, as well as early stage engagements and pre-investment project development work to identify opportunities for private sector investments and creating markets (“Upstream”); project portfolio management (including jeopardy projects and projects in litigation); the delivery and design of structured finance products, sub-national lending, equity and quasi-equity, public-private partnerships, and investments in funds, as well as platform products; advising on corporate policy and operational matters; and (v) knowledge management and training. To support IFC’s growing activities in the Africa region, CLED is recruiting a qualified Extended- term consultant- Legal Counsel to be based in Dakar, Senegal.
Duties and Accountabilities
The successful candidate should be able to work autonomously and exercise independent judgment on straightforward financing transactions in the financial and real sector and follow-on same paper investments with existing clients. This includes advising internal clients at the business development stage, Term Sheet stage, and drafting and negotiating the deal. Applicants should also be able to provide “second chair” support on more complex transactions with a senior colleague. Applicants should also be able to:
- Oversee work produced by more junior staff in the legal department;
- Handle portfolio work, including reviewing amendment and waiver documents and working on subsequent closings and disbursements; and
- Update guidance and precedents and work on legal and IFC policy research.
- Should be knowledgeable about the laws of at least one relevant jurisdiction in the region related to commercial and company law /banking and finance.
- Should have demonstrated the competence needed to satisfactorily perform a variety of different and, at times, complex assignments to support the Legal Department.
- Proficient in the use of varied legal research sources, i.e., information databases, internet services, library sources
- Proven legal analytical skills, as demonstrated through research and analysis of a wide range of legal issues and the ability to present results/ recommendations clearly and concisely
- Ability to advocate positions and explain them to internal and external clients
- Ability to juggle a number of projects/ tasks at the same time Communication
- Ability to defend IFC’s approach in its standard loan and equity clauses and has developed an approach for successful negotiations
- Can effectively communicate corporate policies and objectives to internal and external clients
- Able to handle communications and articulate instructions to local counsel and external parties and follow-up with the same with a view to finalize IFC positions including in terms of drafting documents
- Handles tasks, noted above, in absence of primary counsel on an independent basis, with limited need for supervision
- Demonstrated ability to apply good legal judgment in context of assignments Teamwork
- Can interact effectively within the Legal Department and other departments
- Able to participate in and contribute to departmental working groups and committees and training initiatives
- Participates in corporate initiatives
- Actively promotes effective transfer of knowledge/skills
- Provides guidance to more junior staff in the Legal Department
- Law degree from a recognized university and be admitted to practice law in at least one jurisdiction
- A minimum of 4 years of experience working at an international law firm/institution or 5 years working at a local law firm, in each case dealing with cross border transactions
- Independently, or with little supervision, take on straightforward transactions from start to finish, with the ability to work independently with IOs, external clients, and local counsel
- Demonstrated commitment to core values, including excellence, mutual respect, collegiality, teamwork, diversity and inclusiveness, integrity, innovation, transparency and accountability.
- Ability to advise business teams on standard legal questions
- Ability to understand complex legal issues in loans and equity and able to articulate arguments and rationale for the same
- Ability to advise on advisory engagements
- Ability to handle portfolio work
- Effective communication and strong interpersonal skills
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.
Note: The selected candidate will be offered a one-year appointment, renewable at the discretion of the World Bank Group, and subject to a lifetime maximum ET appointment of three years. If an ET appointment ends before a full year, it is considered as a full year toward the lifetime maximum. Former and current ET staff who have completed all or any portion of their third-year ET appointment are not eligible for future ET appointments.