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Director, Development Impact Measurement

Job #: req20106
Organization: IFC
Sector: Economics
Grade: GI
Term Duration: 4 years 0 months
Recruitment Type: International Recruitment
Location: Washington, DC,United States
Required Language(s): English
Preferred Language(s):
Closing Date: 12/12/2022 (MM/DD/YYYY) at 11:59pm UTC



The International Finance Corporation (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 unprecedented levels of uncertainty and volatility. For more information, visit 

IFC’s Vice Presidency for Economics & Private Sector Development provides thought leadership on private sector development, in collaboration with economists throughout the World Bank Group, and helps guide IFC operations towards development outcomes. 

The Development Impact Measurement Department (CDI), part of the Economics & Private Sector Development Vice Presidency, is responsible for measuring and monitoring the development impact for IFC’s investments throughout the project cycle, conducting empirical evaluations of development projects, publishing articles and reports on impact investing, and communicating IFC development outcomes to the WBG Board, IFC senior management, institutional impact investors, and the academic community. 

The Vice Presidency is seeking to recruit a Director, Development Impact Measurement, to lead the department, further strengthen its position within IFC and the World Bank Group and to manage its staff to the highest professional standards. This department has roughly 85 staff and commensurate budget. The Director is responsible for leading all aspects of the department’s work program, which focuses on the ongoing development and implementation of the Anticipated Impact Measurement and Management (AIMM) system for IFC investments, reporting on IFC development outcomes to the World Bank Board and donors, collaborating with the Independent Evaluation Group of the WBG to align methodologies, and representing IFC in the impact investing community of DFIs and asset managers. The Director will also recruit and develop staff to build a new unit with strong academic capabilities in conducting impact evaluations and field research on the social and economic outcomes of specific development interventions, publishing academic papers, and convening academic conferences on the topic. 

The position is based at IFC’s headquarters in Washington, D.C. S/he will be a member of the CED VPU leadership team and will report to the Vice President, Economics and Private Sector Development.

1. AIMM framework:  Provide intellectual leadership and operational oversight for the continual development and deployment of IFC’s development impact rating system for IFC investments, AIMM. This includes:
•  Design, review, and implement methodologies to continuously improve the economic rigor of AIMM. Lead the team in proposed changes to reflect the evolving economic and operating environment, IFC strategic priorities, and lessons learned from implementation of the framework. The Director is responsible for reviewing the methodologies and implementation of the AIMM framework and modifying as needed on a recurrent basis.
•  Identify opportunities to streamline processes for greater efficiency. 
•  Build excellent, collaborative working relationships with IFC industry and regional Directors and operations staff regarding the evolution of AIMM methodologies for existing and new investment products.  
•  Conduct technical briefings and learning programs on AIMM methodology (and revisions) for IFC Operations, the WBG Board, and external stakeholders to create deeper understanding of the framework and interpretation of development impact scores. 
•  Ensure rigor in the analysis and summaries of IFC development impact for IFC’s corporate scorecard, annual reports, Board papers, and other purposes as requested.
•  Engage external academic reviewers to continuously improve AIMM framework.

2. Impact evaluation:  Recruit and develop staff to build a new small unit that will generate high-quality and operationally relevant data and research to inform IFC investments and transform their development impact. Specific activities may include:
•  Conduct ex poste empirical evaluations on specific types of IFC investments and platforms to inform future investment design (e.g., impact of risk-sharing facilities on bank lending volumes; local supply chain impact from investments in local production firms)
•  Work with IFC clients to conduct randomized controlled trials (RCT) on development outcomes and/or implement synthetic control methods to identify highest impact interventions (e.g., SME access to trade finance; crop productivity of farmers that participate in digital agtech platforms; impact of management training for SME revenues and profitability)
•  Work with IFC client data to identify sources of outperformance and actions that IFC can take to improve development and financial outcomes
•  Publish academic papers and reports on findings
•  Engage a network of academic economists focused on empirical development results measurement for knowledge-sharing, collaboration on specific projects, co-hosting conferences, etc.

3. Impact investing: Lead IFC’s engagement with institutional impact investors and other development finance institutions. This may include:
•  Research and thought leadership on impact investing results
•  Development and oversight of an IFC Annual Impact report 
•  Convening impact investor events (the first one will be at Spring Meetings 2023, in collaboration with the Global Impact Investor Network and signatories to the Operating Principles for Impact Management)
•  Bilateral engagement with other DFIs, asset managers, and asset owners on development impact measurement
•  Presenting and speaking at external Impact Investor conferences

4. People leadership:  Provide excellent people management, coaching, and leadership for all department staff. Ensure streamlined processes, a strong focus on delivery, and develop high levels of staff engagement.
•  Deliver the agreed upon work program through cost effective use of resources and ensuring timely delivery of high-quality outputs.
•  Manage the department and coach and mentor its staff to a modern standard and high level of performance, with special attention to diversity objectives.
•  Drive and inspire technical excellence within the department by creating an environment of learning, innovation, and knowledge sharing.
•  Recruit and develop staff with strong academic capabilities in conducting impact evaluations and field research on the development outcomes of IFC investments and other policy interventions. 

5. IFC leadership: Demonstrate strong teamwork and work seamlessly with the other Departments and Directors within the IFC Economics Vice Presidency, across IFC Operations, and with the World Bank Group. As an IFC Director, you will be part of IFC’s extended Management team.

Selection Criteria

•   PhD in economics or related field, with at least 15 years of professional experience at successively higher levels of responsibility. 
•  Demonstrated experience and publications track record related to development impact measurement and empirical evaluation methodologies, including randomized controlled trials (RCT) and synthetic control methods.
•  Familiarity with IFC’s or similar Development Finance Institutions’ areas of focus and relevant experience in country/regional context.
•  Knowledge of IFC operational and portfolio work and a good understanding of investment projects is desirable.
•  High energy, drive, and ability to manage a large portfolio of activities efficiently, proven organizational management skills, strategic thinking and sound business judgment.
•  Experience managing a large and diverse team of experienced economists with multiple objectives. Ability and willingness to make decisions, take accountability and hold others accountable for delivery.
•  Strong analytical and quantitative skills.
•  Effective and persuasive oral and written communication skills to work successfully with external stakeholders, clients, as well as with IFC management. Ability to cultivate an active network of relationships inside and outside the organization and to represent IFC publicly as needed.
•  Demonstrated ability to operate in a collaborative manner in a matrixed, highly complex and global organization. Interest in and ability to drive innovation and change, and to bring together groups that are used to working autonomously to solve problems and make decisions.
•  Proven ability to lead high level discussions with senior management and external stakeholders to inform thinking on important policy, strategy, operational, and impact management.
•  World Bank Group-wide managerial competencies include: (i) Courage of your conviction, (ii) Leading the team for impact, (iii) Influencing across boundaries, (iv) Fostering openness to new ideas, and (v) Building talent for the future.

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 the World Bank and IFC, including our values and inspiring stories.