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 2022, IFC committed a record $32.8 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 Financial Institutions Group (FIG) is one of the major industry groups at IFC, responsible for managing roughly 40% of IFC’s overall business in terms of volume and capital at risk. FIG engages in a wide range of sub-sectors including Microfinance, SME, Gender, Climate, Insurance, Capital Markets, Housing, Distressed Assets, and other areas, with both investment and advisory services delivered to IFC’s clients through IFC’s global network.
One of IFC’s priorities, as part of a broader World Bank Group commitment is to work with its clients to align its business to the Paris Accord. As of July 2024, 85% of IFC’s new business will have to be Paris aligned. To bring the corporation and its clients, and particularly FIG and its approximately 130 deals a year to that point will require a great deal of work both internally and externally to engage colleagues and clients in understanding and adhering to the directional changes required to align with the Paris Accord. To that end, IFC is seeking to hire a qualified ETC who will work with the FIG Climate global team to support this process. This will include working across FIG Investment and Advisory teams, with the Climate Business Department, with Environmental and Safety Specialists, and with clients. The ETC will report to the Principal Industry Specialist, and will work with a multidisciplinary team led by the Global Climate Head, Global Climate Industry Lead, and Regional FIG IS and AS Managers and the FIG Climate Industry Leads to assist the staff including Investment Officers, Portfolio Officers, and Operations Officers, to engage client FIs on Paris Alignment activities, to ensure that our engagements with them are Paris aligned, and that there is sufficient capacity within our client Financial Institutions (FIs) to ensure continued compliance. The consultant will be based in Washington D.C. and will be required to travel occasionally. Specific responsibilities and qualification requirements are described below.
Roles & Responsibilities:
• Take on assigned responsibility for, and deliver on, key aspects of the implementation and rollout of the Paris Agreement alignment across FIG projects.
• Track, monitor and report on Paris Alignment (PA) implementation progress of FIG investments.
• Provide guidance to investment staff during the different stages of PA assessment process and coordinate with E&S and Climate Business Department (CBD) colleagues as needed.
• Proactively engage and support in establishing protocols, methodologies, and tools to support IFC’s engagements with FI clients on the topic of Paris Alignment (PA) across Building Blocks 1 and 2.
• Work with colleagues across FIG, CBD, and E&S to test the above with clients and to improve IFC’s PA approach with clients.
• Support the development and delivery of internal training for FIG colleagues globally and external training and support for FI clients.
• Contribute to advisory services engagements in relation to Paris Alignment and Climate Risk to support clients to help them: a) identify and understand climate risks in their targeted investments and in their portfolio overall and b) develop an internal framework to identify, monitor and manage / reduce such risks.
• Work with the cross-departmental team to develop internal and external guidance materials and documents for FIG staff and FI clients related to the Paris Alignment Framework and its implementation.
• Coordinate with internal stakeholders (climate specialists, E&S, sector specialists etc.) to identify ways to strengthen FIG’s PA offering; and to provide high value-added advisory support to FIG’s clients.
• The role will also require ad hoc additional responsibilities as directed by Climate team and management.
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Note: The selected candidate will be offered a one-year appointment, renewable for an additional one year, at the discretion of the World Bank Group, and subject to a lifetime maximum ET Appointment of two years. If an ET appointment ends before a full year, it is considered as a full year toward the lifetime maximum. Former and current ET staff who have completed all or any portion of their second-year ET appointment are not eligible for future ET appointments.