Principal Investment Officer - Cities

Principal Investment Officer - Cities

Job #:
req28992

Organization:
IFC

Sector:
Investment

Grade:
GH

Term Duration:
3 years 0 months

Recruitment Type:
International Recruitment

Location:
Washington, DC,United States

Required Language(s):
English

Preferred Language(s):

Closing Date:
9/3/2024 (MM/DD/YYYY) at 11:59pm UTC

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.

The Global Water, Cities, Waste & Circularity team, in collaboration with the regional industry groups, is responsible for IFC's municipal and environmental infrastructure business, including sub-national investment and advisory support to municipalities and utilities, and commercial investments in private water and waste companies. As part of this responsibility, the unit plays a global anchor role in IFC's Cities Practice.

The Cities/Municipal space is one of the few areas across the World Bank Group, where the Bank, IFC and MIGA engage in impactful projects with a common set of clients with predominant or exclusive government ownership. Many of these government clients are also counterparts in infrastructure privatizations or Public-Private Partnerships. Given the unique potential for integrated World Bank Group engagement, there is an increased focus on designing, marketing and implementing well thought out, strategic, and coordinated World Bank Group solutions to face head-on wide-ranging development challenges facing the urban sector in emerging markets.

In this context, the team is looking to recruit a Principal Investment Officer (PIO), to provide overall leadership to the Cities/Municipal investment and advisory program, with a renewed emphasis on cross-cutting, integrated World Bank Group solutions. The PIO will play a leadership role in delivering priorities related to growing IFC's volume of high development impact debt and equity investments, quality enhancement, sector strategy, thought leadership, knowledge sharing, market creation and innovation. Areas of focus will also include business development, client relationship management and working with internal and external stakeholders to enhance IFC's profile externally as the premier Development Finance Institution providing investment and advisory support in the Cities space globally.

All these engagements will be in a partnership model with regional pre-investment and investment teams. The PIO will leverage a small, dedicated team with direct people management responsibilities.

The selected candidate will be based in Washington DC and will report to the Manager for Water, Cities, Waste and Circularity.

Duties and Accountabilities:

• Develop and implement a revamped model for engagement in the Cities space for IFC which specifically leverages the broader skill sets, products and relationships which exist across the World Bank Group.
• Oversee the Cities program globally in a partnership model with regional teams at IFC and in collaboration with teams at the Bank and MIGA.
• Provide strategic direction to the business and ramp up its growth trajectory in line with WBG ambitions for impact, leveraging, and mobilization.
• Drive the business forward by providing guidance and support to regional teams in originating new business and delivering on existing engagements. Review and provide value-additive guidance on municipal finance transactions at key stages of the processing cycle.
• Lead/support cross-cutting teams, including from partner units such as IFC's climate team to develop new products which help IFC become an attractive partner with municipal/city clients, and at the same time enhance IFC's ability to make investments commercially and environmentally sustainable.
• Foster synergies across regions for initiatives, advisory products, business development activities and transactions by closely working with Cities Regional Leads as well as regional investment and advisory colleagues.
• Lead the knowledge management and communications efforts for the municipal sector, with a focus on practical knowledge to support business development efforts, develop sector expertise and foster innovation (learning and thought leadership, sectoral resources for IOs, regulatory reviews, etc.)
• Actively monitor industry and market trends, participate in industry functions and build sector relationships globally.
• Position IFC externally as a leader in the subnational borrowing space through the development of partnerships and external branding.
• Manage key donor relationships, monitoring and reporting requirements and as needed work with Partnerships teams to raise additional funding.
• Mentor and coach junior staff and help build talent and grow the skill base of the staff.

Selection Criteria

• At least 20 years of experience in development and/or commercial banking. Experience in more than one arm of the World Bank Group would be a plus.
• Master's degree in finance, economics or similar relevant education.
• A track record of collaboration between the World Bank, IFC, MIGA, commercial banks and other Development Finance Institutions.
• Investment and sector experience in municipal infrastructure, with proven ability and interest in understanding and synthesizing municipal & environmental infrastructure sector dynamics, challenges, opportunities and active engagement in knowledge creation and dissemination.
• High degree of quality responsiveness to ad hoc management requests/strategic engagements.
• Ability to review investment proposals at speed and provide initial views while incorporating views from industry specialists, regional colleagues, etc., with tight timelines.
• Anticipate credit/commercial/environmental concerns across transactions globally and de-bottleneck transactions through proactive engagement throughout the project cycle.
• Ability to establish a leadership position across global teams engaged in municipal transaction without having formal line authority. Establish a culture where teams reach out to the lead, versus having to insert authority through checks and balances in the existing ADM.
• Experience in representing IFC in senior engagements with the government and in international conferences/seminars/other fora.
• Strong transaction experience in project development, origination, structuring, and portfolio management of infrastructure sector transactions in developing countries.
• Familiarity with multiple financial products.
• Strong analytical and problem-solving skills and sound business judgment to identify issues and present creative and practical solutions.
• Capacity to deal with conflicting, unpredictable priorities in a highly responsive manner, while delivering high quality work through peer leadership across regional/industry boundaries.
• Willingness to engage with E&S counterparts directly to craft solutions that preserve IFC's standards and cater to the unique needs of municipal and environmental counterparts, including those majority or fully owned by governments.
• Established industry networks and ability to build and maintain strong relationships with clients, government authorities, industry groups and experts.
• Strong analytical and problem-solving skills and sound business judgment to identify issues and present creative and practical solutions.
• Direct leadership of teams, including responsibilities for performance evaluation.
• Collaborative work style; a team player.
• Excellent communication skills in both oral and written English; public speaking will be an integral part of the role. Familiarity with social media and willingness to explore all creative avenues to enhance IFC/team profile and establish/consolidate IFC's branding.
• Highly motivated and proactive, committed to the highest ethical standards.
• Interest in the World Bank Group and IFC's mission, strategy, and values.
• Experience of working in emerging economies and willingness and ability to travel extensively internationally.
• Fluent in English; other languages are a plus.
• Ability to work independently/with light guidance from management.
• Focus on the delivery of high quality/best in class output in engagements with senior management and the Board.
• Ability to work seamlessly with other sector leads in the unit covering water and waste - including in resource allocation and ensuring that synergies are fully exploited between three verticals all engaged in supporting the same urban development agenda.

Note: This internal requisition is open to WBG and IMF staff only (including short-term and extended term consultants/ temporaries). External candidates are requested not to apply. In case an external candidate applies, their application will not be considered.

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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