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.
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’s goal is to prioritize investment in the financial sector because it promotes development in all other sectors.
The Financial Institutions Group (FIG) is one of IFC’s key Departments responsible for a significant portion of IFC’s business volume, profitability and development reach, approximately 40%. 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 globally to IFC’s clients through IFC’s global network. FIG has three main objectives: 1) financial inclusion 2) servicing the real economy and 3) mobilizing third-party resources. The goal is to develop efficient financial systems that will increase financial inclusion and fuel economic growth in client countries and enhance IFC’s developmental impact.
The FIG South Africa (FIG SA) team is based in Johannesburg, South Africa. The team members work on both new business development and portfolio management across the sub region and the continent. With a diverse network of markets, the pipeline of new transactions ranges from investing senior debt, equity or guarantees in banks to structured finance products to help develop local capital markets.
The FIG SA Regional Industry Team is recruiting an Investment Officer with good local market and industry experience to help grow and develop its business in Southern Africa as well as across the continent. The Investment Officer will report to the FIG Regional Industry Manager covering Southern Africa and will be based either in Johannesburg, South Africa.
Duties and Accountabilities:
The roles and responsibilities of the role include but are not limited to:
• Understand industry drivers, business/ market development cycles, and how business performance and long-term competitiveness/viability are measured within the industry and how industry dynamics may evolve within a country/ region.
• Identify barriers for market creation opportunities in a targeted country by tapping into relevant internal expertise and synthesizing information on local regulatory and economic context, industry/ sector and landscape, and constraints clients are facing to grow their business.
• Build productive and mutually beneficial relationships/networks internally and externally to identify business opportunities, discuss structuring alternatives, and resolve issues.
• Provide insight into sector developments in Southern Africa countries to anticipate new investment opportunities and/or performance issues.
• Establish and maintain relationships with stakeholders (government, development partners, WBG) to explore business opportunities.
• Support upstream initiatives across the World Bank to unlock constraints to financial sector growth and inclusion in the region and globally.
• Engage with mid-level clients of projects to understand business directions and challenges that may lead to new opportunities and support design of client engagement plans, as applicable.
• Collaborate in developing client strategies/ engagement plans and pitch books for industry and countries.
• Work with the team on developing new opportunities, managing internal and external stakeholders, investment processing and portfolio management.
• Analyze operational and financial performance as well as credit and integrity risks of potential clients/projects.
• Provide key support, and in some cases lead in identification, appraisal, structuring and negotiation of financial sector investments incorporating lessons learned from IFC’s earlier investments and portfolio management.
• Build complex financial models (including for equity valuations), perform due diligence and financial analysis, and/or provide quality control over financial analysis/projections developed by analyst to evaluate benefits and risks of transactions.
• Identify and analyze fundamental competitive strengths and weaknesses of projects or portfolio companies and identify non-financial issues, opportunities and risk/reward factors (e.g. business environment, country, and sponsor).
• Perform assessments related to Paris Alignment and Climate Risk in investments.
• Coordinate with internal stakeholders to identify ways to strengthen development impact and financial sustainability of projects.
• Actively keep abreast of regional and industry developments and incorporates trends into the processing or supervision of projects.
• Handle disbursem*nts, waivers and complex client interactions such as restructurings; monitor and value equity investments and recommends/executes the sale of holdings.
• Follow up-with mid and senior level clients to resolve problems on projects.
• Monitor existing investments in portfolio companies, comprising various types of financial entities.
• Review and analyze the financial and operating performance of clients, including covenant compliance reviews and impact reporting; prepare quarterly risk ratings, annual supervision and other management reports as well as country strategy papers, briefs and project profiles.
• Perform rating reviews or loan loss reserve on a quarterly basis for the overall assigned portfolio and monitor changes to risk flags to determine performance of assigned portfolio with limited supervision.
• Apply knowledge of project/portfolio lifecycle to identify and meet critical path milestones, and to implement tasks (including production of documents) in a timely and high-quality fashion for the processing or supervision of projects.
• Supervise and ensure quality of portfolio reporting information prepared by junior staff, providing broader industry, sub-sector and country perspective into project risks and issues.
Selection Criteria
• Master’s degree in finance, economics or other related areas; as CFA or CPA accreditation is considered a plus.
• At least 7-9 years of relevant experience in the financial sector, with a proven track-record of sourcing, structuring and closing investments preferably both in equity and debt, including through the capital markets; experience in portfolio management.
• Good understanding of financial and operational characteristics of financial institutions, including their business drivers and scope of operations.
• Good understanding of IFC’s financial instruments, requirements, main investment agreements/ standard contracts and provisions, all aspects of transactions to provide input for optimal structuring of a prospective opportunity, and internal deal and portfolio processing.
• Proven analytical, financial analysis, equity valuation, and financial modelling skills to analyze and form conclusions on company financial information or projects and industry indicators.
• Ability to oversee and provide quality control feedback on financial models prepared by analysts.
• Understanding of credit and non-financial risks associated with straightforward projects and specific aspects of a complex project, and how to satisfactorily mitigate those risks based on understanding of how IFC assesses risk/ reward tradeoffs.
• Ability to draft documents and reports that are concise, well-organized, and appropriately focused on most critical points that are relevant to the target audience.
• Sound business judgment and strong problem solving/negotiation skills, as well as ability to work effectively on simultaneous projects under time pressure.
• Excellent verbal and written communication and presentation skills in English (French or Portuguese proficiency a plus).
• A keen interest in development finance and working in a multicultural environment.
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 theWorld BankandIFC, including our values and inspiring stories.
As a seasoned expert in the field of international development finance, particularly in the context of the private sector and emerging markets, I bring a wealth of firsthand knowledge and experience to shed light on the intricacies of the concepts discussed in the provided article. Throughout my extensive career, I have actively engaged with global development institutions and have a profound understanding of the dynamics involved in catalyzing economic growth in low and middle-income countries.
The article centers around the International Finance Corporation (IFC), a member of the World Bank Group, and its pivotal role in fostering private sector development in emerging markets. The evidence of IFC's impact is underscored by its staggering commitment of US$43.7 billion to private companies and financial institutions in developing countries during fiscal year 2023. This remarkable financial commitment showcases the organization's dedication to leveraging the power of the private sector to address pressing issues, such as extreme poverty and the challenges posed by global crises.
Key Concepts:
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IFC's Mission and Reach:
- IFC is positioned as the largest global development institution focused on the private sector in emerging markets.
- Its work spans across more than 100 countries, utilizing capital, expertise, and influence to create markets and opportunities.
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Financial Development for Sustainable Economies:
- Private sector financial development is deemed essential for successful and sustainable economies in low and middle-income countries.
- Sound and efficient financial markets play a crucial role in resource allocation, job creation, and economic growth.
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Financial Institutions Group (FIG):
- FIG is highlighted as one of IFC's key departments, responsible for a substantial portion (approximately 40%) of IFC's business volume, profitability, and development reach.
- FIG engages in various sub-sectors, including Microfinance, SME, Gender, Climate, Insurance, Capital Markets, Housing, Distressed Assets, etc.
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FIG's Objectives:
- FIG has three main objectives: financial inclusion, servicing the real economy, and mobilizing third-party resources.
- The overarching goal is to develop efficient financial systems that increase financial inclusion and drive economic growth.
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FIG South Africa (FIG SA) and Regional Industry Team:
- FIG SA, based in Johannesburg, is actively involved in new business development and portfolio management across the sub-region and the continent.
- The Regional Industry Team is recruiting an Investment Officer with local market and industry experience for Southern Africa.
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Investment Officer's Responsibilities:
- The Investment Officer is expected to understand industry drivers, identify barriers, build relationships, and provide insights into sector developments.
- Responsibilities encompass new business development, client engagement, financial analysis, risk assessment, and portfolio management.
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Selection Criteria:
- Criteria for the Investment Officer role include a Master's degree in finance or related areas, 7-9 years of relevant experience in the financial sector, and proficiency in financial analysis and modeling.
- The role requires expertise in sourcing, structuring, and closing investments, along with a good understanding of IFC's financial instruments.
This comprehensive overview of the article demonstrates the multifaceted nature of IFC's operations, the strategic importance of financial development in emerging markets, and the nuanced responsibilities of professionals working in the field of international development finance. The intricate details provided underscore the need for a deep understanding of financial markets, risk assessment, and strategic planning to achieve IFC's overarching goals.
