Established in 1944, the World Bank Group (WBG) is one of the world’s largest sources of funding and knowledge for development solutions. The WBG consists of five specialized institutions: The International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID).

The International Finance Corporation (IFC) is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, the Corporation uses over six decades of experience to create opportunities where they are needed most. Private sector financial development is essential to the promotion of successful and sustainable economies in low- and middle-income countries around the world. Sound and efficient financial markets can ensure that resources are allocated where they are most productive, assisting job creation and spurring economic growth. 

IFC has embarked on an ambitious new growth strategy, the outcome of which will be to double our volume of business by 2030 and triple the work we do in Low Income Countries (LICs) and Fragile and Conflict affected States (FCS). To do so, IFC will need to deploy its full range of financing, mobilization, advisory, convening and thought leadership skills. This also calls for the need to generate our own opportunities by proactively working “Upstream” to create, deepen, and expand markets and opportunities for the private sector and to imagine, design and implement investment projects. This strategy also relies on a closer WBG collaboration through the “Cascade” approach: working with clients, we will first seek private sector solutions to address development challenges—where such solutions are advisable and can be effective—and reserve public financing for projects only when other options are suboptimal. 
 
The Corporation is seeking to appoint a Director, Blended Finance Department (CBF) within the Economics & Private Sector Development Vice Presidency, based in Washington, DC. The Director, Blended Finance will be tasked to manage and deploy all concessional funds in co-investments alongside an IFC own account investment.   IFC currently manages more than $1 billion in funds from contributor partners within its Blended Finance facilities, including the IDA Private Sector Window (IDA PSW), Global Agriculture and Food Security Program, the Climate, Gender and SME focused Facilities. CBF integrates the design, execution, implementation, and supervision of all blended finance investment solutions to de-risk and/or help rebalance risk-reward profiles of high impact projects that cannot proceed with only a commercial investment from IFC. CBF also leads external engagements and IFI coordination on blending public funds in private sector projects. CBF performs these functions in partnership with IFC’s Industry and Regional departments and others. S/he will lead the department and be a member of the Economics & Private Sector Development Vice Presidency Leadership Team.  
 
Duties and Accountabilities

Strategic and operational leadership
• Oversee all concessional funds under management, including IFC’s allocation in the IDA PSW and new blended finance fundraising; ensure that obligations to contributors who have entrusted IFC with delegated authority to manage their funds are fully met. 
• Oversee structuring and implementation of blended finance solutions to de-risk and rebalance risk-reward profiles in exchange for development impact, in close collaboration with Operations and Treasury.
• In partnership with Operations, develop additional de-risking tools for IDA and FCS and climate finance.
• Ensure appropriate application of IFC’s blended finance principles, approach and governance as endorsed by IFC’s Board of Directors and other policies and procedures applicable to CBF as well as the guidance and strategic direction provided by the Blended Finance Committee.
• Ensure consistency of approach and practices in deploying new funds and managing the portfolio of blending concessional funds across sources, sectors, regions, and themes, supporting innovation and calibrated risk-taking. 
• Oversee blended finance portfolio of investments across sectors and funding sources, and including blended finance projects facing financial difficulties or being restructured.
• Assume delegation of decision-making from the Chair of the Corporate Blended Finance Committee, as applicable.
• Simplify the process for accessing and deploying blended finance funds, eliminating overlapping and duplicative work/documentation and contributing to corporate efficiency targets.
• In collaboration with Communications team, provide strategic guidance for the development of an appropriate communication strategy and materials to highlight the role played by contributor funds.
• Collaborate with other WBG institutions to enhance impact and, when applicable, deliver blended finance solutions to IFC’s clients.

Knowledge management and thought leadership
• Lead capturing, curating and disseminating knowledge products on blended finance internally and externally and provide thought leadership on the topics of blended concessional finance. 
• Coordinate with IFIs and other stakeholders on guiding principles for blended concessional finance investments.

People and resource management 
• Coach and mentor staff in the Department with a focus on long-term career development and performance management processes and requirements for staff.  
• Manage fiduciary aspects of the Department, including oversight of administration, reporting and other obligations associated with the management of public funds and having the department’s operations partially funded by donor fees.