Investment Officer – Banking on Women
Job #: req22818
Term Duration: 3 years 0 months
Recruitment Type: International Recruitment
Location: Washington, DC,United States
Required Language(s): English
Preferred Language(s): French, Spanish
Closing Date: 6/6/2023 (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 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’s strategy and implementation work focuses on 3 main pillars: (i) increase financial access and inclusion; (ii) scale sustainability and climate finance; and (iii) make financial systems more efficient, resilient, and sophisticated. FIG engages in a wide range of priority areas including MSMEs, Gender, Climate, Housing, Distressed Assets, and Trade Finance, to which it offers investment and advisory services through banks, non-bank financial institutions, Fintechs and other digital channels, and the capital markets.
IFC’s priorities in FIG as an industry group are: (i) grow investment and advisory solutions in all regions it operates in, while achieving strong profitability and development impact; (ii) build new and nurture existing client relationships to make IFC the preferred partner for key clients; (iii) manage portfolio of assets for strong profitability and impact; (iv) support local companies, while improving transparency and corporate governance; (v) catalyze foreign investment, including mobilizing B loans, parallel loans, and other forms of capital mobilization; (vi) introduce and develop new financial solutions, products and platforms; (vii) build long-term partnerships with strong regional players; (viii) develop client, sector and country-level solutions through upstream and downstream interventions that can be scaled and replicated; and (ix) be a thought leader and innovator of products and client solutions globally.
IFC’s Banking on Women (BOW) Business: The dynamic Banking on Women business in IFC’s Financial Institutions Group plays a catalyzing role to address the financing and capacity gaps faced by women and women-owned small and medium-sized enterprises (SMEs) in emerging markets. Through the BOW business, IFC provides the following services in emerging markets: (i) Invests in private sector financial institutions (including regional banking groups, local commercial banks, non-bank leasing and finance companies, etc.) with a range of instruments including debt, performance-based finance, equity, Gender Bonds and other capital markets instruments, and risk management products to increase financing to women-owned SMEs; (ii) Provides expertise and technical advisory services to banks and other financial institutions to develop and launch profitable, best-in-class financial services and nonfinancial service offerings for women customers; (iii) Generates actionable data about the business case for banks and other investors to increase access to finance for women by establishing a sound track record, and by generating global research, communication, and thought leadership; (iv) Develops partnerships with investors, donors, and banking networks to increase global investment in women-led businesses.
As of March 2023, IFC has invested, mobilized investment, and provided advisory expertise in over 200 financial institution projects in over 66 countries, with a cumulative committed IFC-BOW portfolio of over US$4 billion to finance women-owned SMEs across Africa, Asia, Europe, Latin America, and the Middle East. The BOW business has also launched important partnerships, including the Women’s Entrepreneurs Opportunity Facility (WEOF) with Goldman Sachs 10,000 Women, which was the first global facility dedicated to providing access to capital for women-owned SMEs. Additionally, IFC and BOW were among the first implementing partners for the Women Entrepreneurs Finance Initiative (We-Fi), a multi-donor initiative to provide blended finance and capacity to increase access to finance and improve business environments for women entrepreneurs. More recently, FIG’s Banking on Women business has expanded to FIG-Gender to launch and mainstream a cross-cutting gender lens across all of FIG’s major business areas, including MSME Finance, Capital Markets, Housing Finance, Insurance, Digital Finance, and Climate Finance.
FIG’s Banking on Women business is seeking an investment officer with industry experience to help grow and develop its business in emerging markets. This position will complement the existing cadre of Investment Officers and Advisory/Upstream Officers who deliver FIG-Gender projects. The position will be based in Washington, DC with travel to IFC’s regions of operation.
Roles & Responsibilities:
The Investment Officer will have a wide range of evolving responsibilities in line with strategic priorities of FIG. Anticipated responsibilities include the following:
- Lead and collaborate with global and regional colleagues to identify, develop, and deliver a strong pipeline of quality FIG-Gender investments in all of IFC’s regions of operation; specifically, this work will entail business development, risk assessment, project structuring and processing, and team support on virtual and on-site appraisals of FI investments, legal negotiations, and commitment.
- Support colleagues to evaluate, structure, negotiate, and close new transactions, with a focus on credit, asset quality, and impact (include processing mandates, due diligence, board documentation, negotiating term sheets and legal agreements, and syndications).
- Build and maintain strong relationships with clients, global and regional businesses, banking and multilateral partners, WB, and other stakeholders to develop specific investment opportunities.
- Maintain the global pipeline of FIG-Gender projects.
- Lead one or two of FIG-Gender’s new business areas, including establishing the business case and marketing approach, development of investment opportunities and structures, and supporting the team to build a pipeline that increases FIG’s investment activity to finance women and women-led businesses through one of the following sectors: Digital, Climate, Housing, Capital Markets, Value Chain Finance, MSME Finance, Insurance, or other.
- Lead FIG-Gender / BOW blended finance transaction components, including relationship management with WEOF and We-Fi donors, reporting, transaction structuring, analysis, and facility coordination for 1-2 Blended Finance (BF) facilities.
- Collaborate and develop strong working relationships with other FIG IOs and CBFNP colleagues to successfully include blended finance in relevant transactions with existing and new BF facilities.
- Manage day-to-day operations of the WEOF Facility.
- Lead the portfolio supervision of the FIG-Gender business line, including conducting an annual portfolio review of the investment and advisory service business, and monitoring of financial and impact indicators.
- Develop investment promotion collateral, pitchbooks, and marketing approaches for FIG-Gender, including targeting potential investors, clients, and promoting IFC’s products and services.
- Lead and participate in knowledge-sharing activities and strategy development.
- Thought leadership through participation in global webinars, panel discussions and other fora with development partners, investors, and financial institutions.
- Coordinate closely with social, environmental, and advisory/upstream colleagues in order to champion IFC’s value to our clients’ businesses, find pragmatic solutions to the specific sector challenges, and achieve sustainable development impact; and
- Other project, business, or strategy-related activities as the need arises.
- Master’s degree in finance, economics, or other related areas. Candidates with MBA, CPA, or CFA would have an advantage.
- Minimum six to eight years of financial sector experience in emerging markets.
- Understanding of sector drivers, business, and market development cycles, and how business performance and long-term competitiveness and viability are measured within a sector and how sector dynamics may evolve within a country or region.
- Proven analytical, financial analysis, equity valuation, and financial modeling skills to analyze and form conclusions on company financial information or projects and industry indicators. Strong credit skills and excellent business judgment.
- Ability to oversee and provide quality control feedback on financial models prepared by analysts.
- Capacity to build productive and mutually beneficial relationships and networks internally and externally to identify business opportunities, discuss structuring alternatives, and resolve issues.
- Commitment to sustainable development.
- Original thinking / quick learning abilities with strong initiative and drive, as well as attention to details.
- Good team player with strong interpersonal skills, and commitment to work in a respectful, team oriented and multi-cultural environment.
- Excellent oral and written presentation skills in English are required, additional major language desirable. (French, Spanish)
- 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.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.