Principal Investment Officer - Upstream and Advisory Secretariat

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 in developing countries. In fiscal year 2023, IFC committed a record US$43.7 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 IFC 3.0 strategy aims to stimulate more investment activity across emerging markets, especially in Low Income Countries (LICs) and Fragile and Conflict affected States (FCS). This strategy aims to create new opportunities for private investments in riskier markets and sectors by proactively working “upstream” to create, deepen, and expand markets and design and develop potential investment projects. Achieving these growth and impact ambitions at scale requires a different approach to business development, deal sourcing, and client support that relies on 1) working more closely with the World Bank on business enabling environment and policy/sector reforms; 2) a broader product offering to engage earlier in the project cycle and secure opportunities; 3) a greater focus on preparing clients in nascent markets and sectors for investment; 4) a greater focus on value addition and risk management of portfolio investment clients to enhance their performance; and 5) a longer time horizon and a more patient, longer-term perspective.

As part of a broader alignment in IFC, IFC Advisory Services is shifting to a more strategic approach, systematically linking our advisory programs to the greatest needs identified in World Bank Group country and sector strategies. We will increasingly focus on developing high-impact projects that can help our clients attract the financing they need — particularly in the poorest and most conflict-affected areas of the world. At the firm level, we help companies to attract private investors and partners, enter new markets, and increase their impact. We provide tailored market insights as well as advice on how to improve companies’ operational performance and sustainability. We also support the adoption of good practices and standards to increase competitiveness and productivity. At the government level, we help national and sub-national administrations implement reforms that encourage private investment and structure public-private partnerships to improve people’s access to high-quality infrastructure and basic services.

The Upstream and Advisory Secretariat Central Unit (CUACS) was created in 2023 to support IFC's Upstream and Advisory operations to effectively contribute to IFC's 3.0 strategy and 2030 commitments. The unit's staff are based across multiple regions and provide operational support for all industries and functions. Responsibilities include: Project portfolio coverage of 750 projects; providing corporate oversight, developing policies, procedures, and systems, and knowledge management & learning for Upstream and Advisory units; developing financial planning and analysis of the Upstream and Advisory apparatus, including advocating on budgeting and financial sustainability; and representing Upstream and Advisory at Corporate fora and the IFC Board.

IFC is looking to recruit a Principal Investment Officer, based in Washington D.C. for the Upstream & Advisory Secretariat to drive its approach to early-stage project preparation development. The Principal Investment Officer is to be the global focal point for Upstream strategy and support, pipeline and portfolio oversight, and in particular for guiding and growing Collaborations and Co-Developments (CnCs) product within the Upstream toolkit.

• Act as the Secretariat’s global focal point for Upstream strategy development, pipeline and portfolio support, reporting and regional coordination and the further development and rollout of the CnC product. This includes linking Upstream work to both IFC and WBG Group level strategies including IFC 3.0, IFC’s 2030 commitments, the WBG Roadmap and the WBG Scorecard.
• Manage reporting systems on the Upstream pipeline and portfolio, working closely with IFC’s Dashboard and IT teams, regional portfolio Focal Points within CUACS, and Regional Upstream & Advisory Managers. This includes coordinating regular pipeline and portfolio reviews by region/industry.
• Support outreach to donors, in coordination with IFC’s Partnerships and Blended Finance team, to increase donor financing for Upstream and CnCs through existing and new platforms. In particular, to develop a CnC Ventures Fund to support CnC project costs that would couple IFC retained earnings (CMAW and FMTAAS) with donor funds. Develop a corporation level proposal in collaboration with Partnerships and Blended Finance to attract donor participation and support the scale up of CnCs.
• Develop and refine IFC policies and procedures to ensure the organizational foundation for the Upstream approach and CnC projects in particular.
• Ensure that training, policy, and knowledge related to Upstream and, in particular, CnCs are developed and disseminated within IFC so that key stakeholders (e.g. Regional Upstream and Mainstream teams, Global Industry teams) are aware of and understand the Upstream approach, reporting, use of the CnC product, associated policy requirements and where to locate and practically deploy relevant knowledge.
• Provide corporate oversight over the Collaborations and Co-Development product, including through policy development and training, product development and iteration, and spearheading support to regional and global teams in their use of the CnC product.
• Conduct formal project-level peer reviews of all CnC projects as a Technical Reviewer, to ensure project quality, adherence to policy and appropriate risk identification and mitigation.
• Develop annual budgets, forecasting financing needs for Upstream and CNCs that includes FMTAAS and CMAW projections, country driven budget (CDB) inputs, and coordinating with the IFC budget team to reflect needs in annual budget forecasts and implementation.
• Lead the continuing development and growth of the CnC product for use across all IFC regions and industries, acting as a focal point for Manager-level consultations and mentorship across all industries with respect to the CnC product.
• Translating Upstream lessons from experience relevant to all industries/regions into guidance and training through internal knowledge management, training, and learning. Disseminating best practice examples and developing guidance notes, adjusting as needed to incorporate lessons of experience.
• Act as a focal point for the wide range of stakeholders involved in the operationalization and successful implementation of the Upstream approach and CnC product, including, but not limited to, Legal, E&S, IDD, Budget, IT, etc. Working with these partners on policies and procedures, processes, and overall support for Upstream.
• In particular, coordinate closely with the IFC legal department on relevant legal agreements, templates and processes to be used for Upstream and CnC client agreements and interactions.
• Lead business inputs for ongoing system requirements pertaining to the processing and accounting of Upstream investment rights and CnCs.
• Develop periodic updates to IFC’s Board of Directors and other relevant oversight bodies (e.g. Tier 3 Project Committee) on the Upstream program’s progress and impact, as deemed necessary.
• As needed, act as a focal point for engagement with internal bodies, such as GIA, IEG, and other counterparts such as CDI (on M&E systems for Upstream and CnCs in particular) that may require ad hoc operational updates, analytics and/or information on Upstream and the CnC products.
• Support the success of the Upstream model through refinement and monitoring of KPIs and work with Regional Managers and teams to ensure that projects are being supported and delivered successfully, are continually refined and iterated to suit business needs, are properly resourced, and are fulfilling Upstream’ s vision of generating a pipeline of bankable projects.
• Work with internal and external communications teams to prepare communications outreach to support Upstream growth, lessons learned, case studies and promotion of Upstream project and CnC successes. This includes internal communications to Management and external communications to stakeholders.
• Work with the Secretariat Knowledge Management team to develop and roll out a KM and training program to support project development and implementation. Translating lessons from experience relevant to all industries/regions into guidance and training through internal knowledge management, training, and learning.
• Identify and resolving cross functional issues (reporting and analytics, Policy and Procedure frameworks, Communications, Legal-operational and non-operational, budget and IT systems etc.) that hinder furthering of Upstream/Advisory Operations, in collaboration with relevant corporate functions.
• Support the Senior Manager of CUACS in a range of other functions to support the Secretariat’s role in IFC and the wider World Bank Group.

Selection Criteria

• Master’s degree or equivalent professional qualification in Business, Finance, Economics, Science, Engineering, or other relevant field, and a minimum 12 years of relevant work experience.
• Understanding of IFC’s strategic priorities and changing business model against the backdrop of IFC 3.0.
• Demonstrated track record of early-stage project development experience, including the negotiation of agreements such as Joint Development Agreements and Collaboration Agreements and execution of development phase activities.
• Unquestionable integrity, strong work ethics and commitment to diversity.
• Genuine commitment to development and the World Bank Group and IFC’s mission and values.
• Track record of building and maintaining constructive relationships across organizational units.
• Demonstrated capacity to innovate and challenge the status quo and proven track record of new idea generation and business development.
• Track record of engaging with private sector clients, governments, and other stakeholders to encourage pioneering business and market development.
• Demonstrated experience in monitoring and reporting on a portfolio of projects/programs/initiatives.
• Demonstrated ability to think strategically, develop innovative solutions, challenge the status quo, and make sound decisions to build IFC business.
• Strong written and oral communications skills.
• Ability to develop innovative solutions and challenge the status quo to build IFC’s business and image in the market.

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.

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