Senior Industry Specialist - MSME, Financial Inclusion - Financial Institutions Group at World Bank Group (Washington DC)

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Senior Industry Specialist - MSME, Financial Inclusion - Financial Institutions Group

Job #:
req17957

Organization:
IFC

Sector:
Other

Grade:
GG

Term Duration:
3 years 0 months

Recruitment Type:
International Recruitment

Location:
Washington, DC,United States

Required Language(s):
English

Preferred Language(s):

Closing Date:
6/22/2022 (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 2021, IFC committed a record $31.5 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 the COVID-19 pandemic. For more information, visit www.ifc.org.

IFC has embarked on an ambitious new strategy to stimulate more investment activity, especially in Low Income Countries (LICs) and Fragile and Conflict affected States (FCS). This new strategy aims at creating our own opportunities for private investments in riskier markets by proactively working in these countries to create, deepen, and expand the markets themselves.

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. FIG's mission is to support effective, responsible, inclusive financial intermediaries and leverage them to meet our developmental impact and financial sustainability goals.

FIG's mission is to support effective, responsible, inclusive financial intermediaries and leverage them to meet our developmental impact and financial sustainability goals. This includes increasing access to finance through IFC's capacity to strengthen partner commitments and improve responsible financial intermediaries. FIG's Global Microfinance also leads the implementation of the World Bank Group's Universal Financial Access Strategy. The team's investment and advisory services operate across evolving global initiatives for traditional and digital financial inclusion, namely: (1) corporate governance for financial inclusion; (2) Microfinance-Digital Financial Services risk management; and (3) responsible digital financial services. With more than 1.7 billion people and millions of Micro, Small and Medium Enterprises (MSMEs) still lacking access to basic financial services in much of the developing world, increasing access to finance remains an enormous challenge. The recurrence of financial crises globally, has underscored the importance of corporate governance, risk management and responsible financial practices for a more stable, resilient and inclusive financial services sector to achieve economic growth.

FIG is seeking for a Senior Industry Specialist (G2) to work in its MSME unit and provide industry expertise to FIG teams globally/across regions. The position will be based in Washington DC.

Roles and Responsibilities:

The roles and responsibilities of the position will include but will not be limited to:
• Provide technical expertise as Senior MSME Industry Specialist in support of IFC's global financial inclusion work.
• Provide leadership and backstopping support to IFC's investment and advisory activities globally, and as industry specialist on individual transactions.
• Co-lead development and adaptation of deal acceptance criteria and analytical tools for IFC financial inclusion and MSME investments.
• Develop FIG client advisory solutions for microfinance and digital finance, in line with IFC investments and advisory work in risk management, corporate governance, digital finance and responsible finance across products for clients/projects.
• Review and/or adapt: (1) IFC's FIG product tools; (2) IFC's current risk management frameworks; (3) evolving customer risks related to the use of financial products/services delivered through both traditional and digital; and (4) other relevant private sector industry/global principles/standards emerging in financial inclusion globally.
• Provide technical specialist support to regional teams for assessments and related country Advisory/Investment Services (AS/IS) projects, including piloting, refining tools and/or solutions for selected clients upon request.
• Participate in FIG upstream market creation work in selected countries.
• Participate in regional workshops and training to deliver global best practices and tools developed.
• Write, edit, deliver production and dissemination of communication and outreach materials, including but not limited to online features, blog posts, issue briefs, publication reports, and data analytics as may be necessary.
• Other duties as assigned based on current business and strategic priorities.

Selection Criteria
• Minimum Master's degree in Economics, Business and/or Finance; International Economics, International Development, International Banking.
• Minimum 10-12 years of relevant experience or equivalent combination of education and experience.
• Demonstrated investment experience as technical/product specialist in MSME finance.
• Demonstrated knowledge of, and/or experience in one and/or combination of the following: financial markets and private sector development; financial inclusion, microfinance/SMEs, corporate governance, risk management, responsible finance, and consumer protection, related international finance and development issues; upstream market creation advisory work.
• Demonstrated experience, work and/or significant knowledge of IFC strategy development deep dives for Universal Financial Access and Micro/SME finance and their implementation.
• Professional, demonstrated technical expertise in MSME finance, digital finance and/or significant field experience in senior roles with financial inclusion institutions in emerging/developing countries, and especially FCS/IDA markets.
• Proactive self-starter, creative and skilled individual with attention to detail; works independently and as part of a team in a dynamic environment.
• Excellent writing and research skills; published research, reports, presentations, and related written work highly preferred but not required.
• Strong communication skills and ability to work effectively independently as well as part of a team; proficiency in English is required.

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.
More Information on World Bank Group
World Bank Group operates in the Financial Services industry. World Bank Group was founded in 2022. It has 32283 total employees. It offers perks and benefits such as Flexible Spending Account (FSA), Disability Insurance, Dental Benefits, Vision Benefits, Health Insurance Benefits and Life Insurance. To see all 19 open jobs at World Bank Group, click here.
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