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 IFC Managing Director’s Front Office is seeking to hire an Economic Advisor to IFC’s Managing Director (MD), based in Washington, D.C. The Economic Advisor will report to the Chief of Staff.
The incumbent will be part of a small team that supports the work of the IFC MD.
The selected candidate will advise the IFC MD in all aspects of his work related to economics and private sector development, in close coordination with the Economics and Private Sector Vice Presidency and will interact with a wide range of stakeholders within and outside the IFC and the World Bank Group.
The position requires energy and enthusiasm, ability to multitask, adapt flexibly to ever changing priorities and sound judgment.
Qualified candidates should have over ten years of successful professional experience in a multilateral institution. They will have a passion for private sector development, and a strong track record of performance and corporate contribution. Superior strategic thinking and analytical capabilities paired with strong organizational abilities and excellent communication and people skills are key success factors for this challenging and exciting position. Finally, the ability to productively engage with people at all levels and handle highly sensitive and confidential matters with tact and discretion is essential.
Duties and Accountabilities
The incumbent will serve as an adviser to the IFC MD. She or he will:
• Stay abreast of the analytical work from WB, IMF, OECD, and other sources and provide reviews and summary notes to the IFC MD for his reference and to support his decision making.
• Provide advice on economic policy analysis – such as macroeconomic analysis, economics of reforms, and analytic underpinnings of growth, private sector development, structural reforms, fiscal policy, and fiduciary aspects.
• In collaboration with the Communication Team, write clearly and quickly communication pieces, including op-ed, speeches and articles on Private Sector Development, macroeconomics, and sector specific economics for the IFC MD.
• Act as a conduit and work in close coordination with the Economics VPU on matters related to global macro and market research; sector economics and development impact; country economics and engagement; thought leadership; blended finance and corporate strategy; as well as coordination of IFC & WBG papers & publications.
• Check and validate the economic validity and argument strength of various documents produced by IFC teams for the IFC MD’s reference.
• Evaluate and conduct analysis, research and outreach on issues related to the work and priorities of the IFC MD, including preparation of economic research briefing notes for the IFC MD on relevant issues.
• A post graduate degree in economics/finance/public policy or other relevant graduate degree such as a PhD.
• Sustained record of achieving high-quality substantive results over an extended period (typically at least 12 years of World Bank Group and/or relevant external experience).
• Proven ability to develop high-quality country or sector economic analyses with a focus on solutions for private sector development (PSD), collaborating across the IFC, the World Bank Group (specifically the World Bank/IFC joint practices) and IMF, other organizations, and research institutes.
• Outstanding writing, editing, and verbal communication skills. Ability to represent the IFC MD’s Front Office with internal and external partners. Demonstrated maturity and sound judgment, attention to detail, and ability to convey complex messages succinctly and diplomatically. Ability to interact effectively with Senior Management.
• Ability to engage with IFC’s operations departments and advise on policy dialogue with the aim to create markets and appropriate conditions for IFC and private sector investment.
• Has a track record of intellectual leadership and ability to integrate economic-specific knowledge and specific micro/sector fields of expertise. Recognized as economic or private sector development expert in a specific field as evidenced either through a solid record of publications in peer reviewed journals, and/or a track record of managing and delivering high quality economic reports, lending operations, or equivalent assignments.
• Excellent technical skills, and established track record of leadership and excellence in significant analytical and operational work.
• Ability to juggle tight deadlines, be proactive, and work collaboratively in teams.
• Proven sense of initiative, results orientation as well as effective teamwork skills.
• Proven ability to lead the production of high-quality reports or policy papers in a highly demanding environment, with a quick turn-around.
Required Professional Competencies:
• General Economic Knowledge and Analytical Skills - Possesses Cross-country knowledge in economic specialty and demonstrates ability to link the macro, institutional, and micro-level behaviors; able to support findings/policy recommendations with credible analysis and tools.
• Knowledge and Experience in the Development Arena - Translates technical and cross-country knowledge into practical applications and contributions to country and sector strategies; interacts with clients at the policy level.
• Policy Dialogue Skills - Anticipates needs and requests in the field and conducts independent policy discussions with representatives of the government and non-government partners.
• Integrative Skills - Understands relevant cross-sectoral areas how they are interrelated; able to undertake cross-sectoral work in lending and non-lending operations.
• Macroeconomic Skills and Country Economics Experience - Ability to translate technical analyses of macroeconomic, debt, trade, fiscal policy, and growth linkages into policy recommendations and cross-country lessons, with the ability to quickly separate the signal from the noise based on sound macro and microeconomics and present cases in a clear structured way.
• Demonstrates the ability to influence and persuade others to accept ideas and suggestions (such as counterparts in government, international partner organizations, academia, and Bank colleagues, senior staff, and managers).
WBG Core Competencies: Lead and Innovate; Deliver Results for Clients; Collaborate Within Teams and Across Boundaries; Create, Apply and Share Knowledge; Make Smart Decisions.
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.
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