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Operations Officer

Job #: req12289
Organization: IFC
Sector: Operations
Grade: GG
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
Location: Manila,Philippines
Required Language(s): English
Preferred Language(s):
Closing Date: 6/25/2021 (MM/DD/YYYY) at 11:59pm UTC

 

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 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org

Private sector development is essential to the promotion of successful and sustainable economies in low and middle-income countries around the world. Sound and efficient markets can ensure that resources are allocated where they are most productive, assisting job creation and spurring economic growth.

IFC’s Creating Markets Advisory (CMA) team works to improve the enabling environment to support both IFC and private investments. Our global experience shows that challenges in the business environment mean that countries lose significant amounts of investment annually, and so our team works proactively contribute to creating effective and efficient market conditions for increased investment. We leverage relationships with the public sector, private sector and the World Bank Group in our client countries to identify, design and implement legal and regulatory reforms and strengthen capacity to address key bottlenecks to private sector engagement and investment. CMA currently operates across the East Asia and Pacific (EAP) region, with an active portfolio in Fiji, Indonesia, Lao PDR, Mongolia, Myanmar, Papua New Guinea, Philippines, Timor-Leste and Vietnam.

Through CMA, IFC has collaborated with the Finance Competitiveness and Innovation Practice Group of the World Bank to support the development of robust regulatory regimes for distressed assets resolution, and combines it with pioneering, market-based interventions that mobilize capital and expertise from leading private sector distressed assets investors. This included technical assistance to strengthen the credit environment by improving the insolvency and bankruptcy laws in China, Vietnam, Indonesia and on-going technical assistance in Mongolia and Cambodia. In response to the pandemic, causing the rising level of NPLs in the region, CMA is expanding further advisory works needed to support the creation of attractive distressed assets markets and help addressing the NPL resolution.

Role & Responsibilities

IFC is seeking to recruit a highly-motivated Operations Officer based in [Manila, Philippines], with extensive hands-on experience in Insolvency, Debt Resolution and Distressed Assets Market development. He/she will work closely with EAP CMA, IFC Upstream, Investments and Advisory staff as well as World Bank staff to provide high quality advisory engagement to the government and private sector in Manila, Philippines and in other countries in the region.

The selected candidate will report directly to the CMA Regional Manager for EAP.

Duties and Accountabilities:

  • Work with external clients and World Bank Group colleagues to deliver technical support in the areas of corporate and personal insolvency, Non-Performing Loan (NPL) management and resolution, and distressed assets market development.
  • Work with Project Leads to design and deliver Insolvency & Debt Resolution operational projects, including the provision of technical advice in this thematic area.
  • Develop new business development in line with client and market needs as well as IFC priorities.
  • Engage with the relevant teams at the World Bank and IFC for reforms needed to unlock new markets and work collaboratively with Upstream teams.
  • Work collaboratively with IFC Investment/Upstream/Advisory colleagues to align advisory to help build a pipeline of investment projects and provide solutions to key portfolio clients.

Design and Operationalize Solutions:

  • Collaborate with CMA as well as Upstream/industry specialists in the identification and design of Insolvency, NPL resolution and Distressed Assets Market reforms to unlock investment potential and create markets in Manila, Philippines and other countries in the region. Evaluate the legal infrastructure of financial sector regimes, including analyzing laws, regulations, registries and institutions to identify weaknesses in NPL management and resolution frameworks, including formulating reform recommendations for the respective clients.
  • Contribute to the development and approval of relevant project documents (Concept Notes and Implementation Plans) and client deliverables to ensure standards and objectives are met.
  • Leverage relationships with Government officials, private sector and World Bank Group staff to design and implement reforms using existing or new projects and tools to support reform implementation.
  • Improve the design and delivery of client solutions by incorporating global best practices and lessons from past. Partner with results team in developing appropriate theories of change and results frameworks and indicators to strengthen the development impact and sustainability of client solutions and continuously learn from client projects/ engagements.
  • Ensure high quality control of work products and outputs.
  • Ensure high quality of project supervision and completion documents and provide quality control over client deliverables. Moreover, support client in implementing recommendations and help trouble shoot as needed.

Client and Stakeholder Management:

  • Jointly with the Project Leads, manage multi-stakeholder relationships, including between government clients, financial institutions and NBFls, business associations, and the private sector.
  • Communicate with senior level clients of the Government and private sector and articulate the case for NPL resolution and Distressed Assets Market reforms that can unlock investment potential.
  • Conduct stakeholder and client workshops and training events in relation to loan management and workouts, creditor debt enforcement, and corporate and personal insolvency.
  • Engage pro-actively with donor partners to report progress on donor funded programs and develop new fund-raising proposals.
  • Contribute to developing the Insolvency & Debt Resolution team's relationships and activities with other international partners, such as INSOL International, the EBRO, and UNCITRAL.

Create and Share Knowledge and Build Capacity:

  • Conduct research and undertake project-based analysis in the above technical areas, contributing to the WBGs knowledge dissemination in the area of NPL resolution, Distressed Assets Market development.
  • Contribute to Global and Regional Knowledge Management initiatives, including through the development of benchmarking, diagnostic reports, implementation manuals, internal and external articles and publications that aim to capture trends, practices, and lessons learned.
  • Support peer to peer knowledge exchange sessions across the region.
  • Proactively strengthen the value proposition of advisory products through embracing new trends and partnerships.
  • Help build a bench strength of experts and consultants in the thematic areas of leadership in the region.
  • Develop technical capabilities of the assigned staff and members of the team through mentoring, coaching, and by providing on-the-job learning opportunities.

Selection Criteria

  • Master’s degree in Law, Finance, Business, Economics, or a closely related field, or professional certification (CPA, CFA). At least 5 years of relevant experience in private sector development with focus on insolvency reforms, distressed assets market development across countries in the region.
  • Experience working in at least one country in the East Asia and Pacific, and preferably at least one other region of the world.
  • Experience in the areas of corporate or personal insolvency, NPL resolution is highly desirable.
  • Technical expertise in the field of banking and finance, including project or transactional experience in at least one of: banking law; financial regulation; central banking; or corporate finance.
  • Strong research, analytical, and writing skills are essential. Publications in the relevant technical area are considered an asset.
  • Understanding of IFC and WBG products/instruments and where there are opportunities for cross-organizational collaboration. Demonstrable experience working on IFC and WBG products will be an advantage.
  • Able to design, negotiate and lead efforts to develop client offerings that reflect in-depth knowledge of thematic area and understanding of business case for how thematic focus will help client to improve their business.
  • Strong drive for results and impact, great responsiveness and team work.
  • Excellent knowledge of Word, Excel, PowerPoint and aptitude to learn new systems is a must.  Ability to use IFC project management systems such as Iportal is an additional advantage.
  • Excellent written, verbal communication and presentation skills in English is a must.

Poverty has no borders, neither does excellence. We succeed because of our differences and we continuously search for qualified individuals with diverse backgrounds from around the globe.