Background / General description:
|IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.The Blended Finance Department (BFD) seeks to support transactions that catalyze private sector investment in developmentally impactful projects that are just at the threshold of commercial viability but need some concessional finance to de-risk or help rebalance the risk-reward profile of these project to draw in private sector investors. To that end, BFD manages various pools of contributor funds aimed at meeting various development objectives in the most challenging environments and poorest countries, and for priority sectors such as climate change, agriculture and food security, SME finance. The BFD’s role is to optimize the co-investment of funds from contributors, on concessional terms and considering the contributors’ risk appetite, and in line with principles endorsed by IFC’s Board and Senior Management. The BFD works closely as a cross-cutting product group, with industry investment teams and regional departments within IFC. Contributors of concessional funds overtime have become more interested in protecting their capital on a portfolio basis and receiving reflows (i.e., “returnable capital”).Currently, within the climate change area, BFD manages approximately $700 million in concessional funds to support projects that (a) seek to achieve transformation towards low-carbon and climate-friendly economic environments (e.g., change within an industry sector / sub-sector in a particular country or set of countries), (b) help enable private sector initiatives in other areas (e.g., market development) that would contribute to addressing the climate change challenge; (c) support private sector engagement in climate change adaptation (resilience) strategies. Such concessional funds are able to accept higher risk / lower return than commercial funds while not providing pure grants. Funds under management are primarily sourced from donors through bi-lateral programs (such as the IFC-Canada Climate Change Program) or multi-donor facilities, such as the Global Environment Facility (GEF) and the Climate Investment Funds (CIFs). Earlier this year, IFC also received accreditation to the Green Climate Fund (GCF) and there are other ongoing discussions with bilateral donor partners for other potential contributions to its blended climate finance program.The team is comprised of two main functions: First, to provide comprehensive contributor/fund management for multi-donor and bi-lateral funding provided to IFC. Second, due to the concessional nature of the funds, the team includes the investment structuring and portfolio management function for deploying these funds alongside IFC’s own. An exciting opportunity has opened up for an Operations Officer role in the contributor/funds management function of the unit. The position will provide the successful candidate with an opportunity to primarily support the department’s work related to blended climate finance transactions, together with some overarching work on blended finance in IFC as they related to other areas and sectors. S/he will report to the BFD Manager to work across different sectors and regions within a creative and results based environment.|
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 year term appointment.
Duties and Accountabilities:
|In his/her capacity, the Operations Officer’s responsibilities will include, among others, the following:1. Fundraising and fund management activities:|