Job #: req23512
Term Duration: 3 years 0 months
Recruitment Type: International Recruitment
Required Language(s): English
Preferred Language(s): French
Closing Date: 7/24/2023 (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.
Private sector development is essential to the promotion of successful and sustainable economies in low and middle-income countries around the world. Sound and efficient markets can ensure that resources are allocated where they are most productive, assisting job creation and spurring economic growth. Structural challenges in developing Europe remain high despite significant progress the region. IFC works to foster inclusive growth, boost innovation, and strengthen regional integration. To support a green and inclusive recovery from COVID-19 in Europe and Central Asia, IFC invested over $4.9 billion in the region in fiscal year 2021.
Country Economics and Engagement unit (CELCE) for Europe, Latin America and the Caribbean (LAC) is part of the Regional Vice Presidency. The unit has the following key functions:
- Country Engagement: CELCE unit supports regional and county management in the following key areas (i) identifying priority areas for IFC interventions to help maximize development impact, (ii) defining reform priorities to increase private capital mobilization, investment, and participation in relevant sectors; (iii) leading IFC’s engagement with the World Bank teams to help advance select private sector reform priorities. To do so, in collaboration with other relevant parts of IFC and the World Bank, the unit leads or co-leads the development of the following country engagement products / strategies and core analytical work: World Bank Group (WBG) Systematic Country Diagnostics (SCDs), WBG Country Private Sector Diagnostics (CPSDs), WBG Country Climate and Development Reports (CCDRs), IFC Country Strategies, Country Partnership Framework (CPFs), WBG Performance Learning Reviews (PLRs) and Completion and Learning Reports (CLRs) for CPFs.
- Operations support: The CELCE unit supports industry teams at all stages of the project preparation cycle by contributing to the economic analysis of project documents and board papers. It co-leads preparation the WBG Regional Update to the Board in close coordination with the regional management and operational teams. The unit also produces regular and ad hoc regional and country level economic updates to inform IFC’s operations.
IFC’s CELCE unit is seeking for a Principal Economist for Europe to be based in Paris. Principal Economist will report to the CELCE Manager
Duties and Responsibilities:
- Support regional management team (RMT) in identifying priority areas for IFC interventions to maximize development impact and for the WBG engagements to leverage private sector.
- Lead work on delivery of select WBG analytical work including CCDRs and CPSDs. Help ensure strong analytical underpinnings for IFC country strategies.
- Lead regional work on identifying key reforms critical for private sector development at a country and sector level, grounded in analytical work.
- Lead IFC’s engagement with the World Bank and IFC teams to help advance select private sector reform priorities through the World Bank operations (especially policy lending, but not only) and IFC’s upstream and advisory work.
- Lead macro-economic monitoring to help ensure that IFC operations reflect the latest macro-economic developments and projections.
- Mentor and provide quality control of analytical and strategy work delivered by junior members of the team.
- Advanced degree in Economics, with at least 12 years of relevant professional experience; PhD in economics is desirable but not required.
- A track record of relevant analytical work, especially country private sector diagnostics at macro-, sector-, and micro- level. Good understanding of the interdependence between various sectors of an economy and capacity to integrate micro and sectoral issues with the overall macroeconomic framework.
- Ability to translate economic and policy analysis into country and sector strategies / programs.
- Experience with policy dialogue and development policy lending operations in international organizations.
- Knowledge of the WBG country engagement process and experience of leading the WBG analytical work such as Country Economic Memorandum (CEM), SCD, Financial Sector Assessment Program (FSAP), CPSDs, CCDRs, and Investment Climate Assessments (ICA) is highly desirable.
- Strong writing skills, including the ability to write quickly and concisely on a variety of topics in a well-structured manner.
- Strong communication skills, including ability to interact with internal stakeholders within the WBG, policy makers in IFC’s client countries, and participate in policy development initiatives in collaboration with the WB / MIGA / external stakeholders.
- Demonstrated interpersonal skills, proven ability to work effectively as a team leader and team member, build and maintain relationships with colleagues, manage junior staff and maintain collaborative relationships with stakeholders.
- A proven ability to work flexibly on a range of assignments, adjust to changes in schedule and priorities, and juggle concurrent tasks effectively and efficiently.
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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