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 2021, IFC committed a record $31.5 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 the COVID-19 pandemic. For more information, visit www.ifc.org.
The successful candidate would join IFC’s Investment and Credit Risk Department (CIRIC), part of the Risk and Financial Sustainability Vice-presidency. CIRIC is responsible for providing an independent risk-reward assessment for all new investment transactions and material portfolio events and providing clearance for such transactions at various stages of the investment cycle.
Chief Credit Officers are specialized and experienced risk professionals that are part of the independent risk oversight system. They are responsible for reviewing and approving investment proposals and material portfolio actions submitted by the IFC’s Investment and portfolio teams. In addition, working with investment teams on identifying and mitigating credit and equity risk, they ensure that the investment transactions meet IFC’s minimum investment standards as required by any applicable policies, procedures, or guidelines, as well as the risk appetite established by senior management.
Chief Credit Officers also play an essential role in maintaining an investment culture within IFC by disseminating credit and equity expertise and best practice through various knowledge management activities.
IFC is now seeking a Chief Credit Officer to join its Investment and Credit Risk Department, focusing on the Financial Institutions (FIG) sector, covering mainly Europe and Central Asia. S/he will become part of a formal investment approval hierarchy, serving as “second pair of eyes” in IFC’s checks and balances for all IFC investments. In addition, S/he will be responsible for providing credit reviews and approvals for new transactions and portfolio projects.
Candidates will be expected to have a demonstrated track record and substantial knowledge and expertise in all aspects of credit risk management and the FIG space. This role requires a thorough understanding of credit risk policies and procedures, internal credit risk models, identifying challenging situations and trends in the portfolio, emerging markets, macro-economic and political analysis, sector dynamics, financial modeling, equity valuation, legal structuring, and financial instruments and application of this understanding to identify benefits and potential risks of existing and new transactions. In-depth experience and knowledge of capital markets, structured finance, asset-based lending, and digital financing will be preferred.
The Chief Credit Officer (CO) will be based in Vienna, Austria, and report to the relevant Regional Chief Risk Officer.
Duties and Accountabilities:
• Assure IFC policies, procedures, guidelines and best practices are implemented so that investment transactions and portfolios are contributing to IFC’s financial and development goals.
• Advanced degree (at least Masters) in finance, business, law, economics, international affairs or similar fields. FRM or CFA designation would be a plus.
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.
|Closing date:||January 26, 2022|