IFC—a member of the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org.
The Risk & Finance Vice Presidency Unit (CRFVP) helps to ensure that IFC is sufficiently profitable and capitalized to sustain and grow its operations through prudent risk management at the corporate, portfolio, project, and client levels. It sets best practice standards in risk management to drive sustainable private sector development in emerging markets. CRFVP works in partnership with other IFC Vice Presidents to ensure IFC meets its corporate objectives.
The Department of Special Operations (CSO) is housed within CRFVP. Its primary responsibility is to resolve the problems and special issues in IFC's portfolios related to debt, equity, quasi-equity, and other types of investment instruments, and to optimize the Corporation's overall return on a net present value basis (including for B-loan Participants and mobilization partners) while minimizing reputational risk and, where possible, maximizing developmental impact.
CSO is seeking to recruit a Principal Special Operations Officer (PSOO) to be based in HQ. The successful candidate will lead restructuring and recovery efforts on individual projects, provide restructuring advice to Portfolio teams, and enhance IFC’s branding and thought leadership in the market. The successful candidate is expected to understand the dynamics of IFC’s portfolios, including those with equity and unsecured, covenant light (UCLs) assets, and to actively communicate and work with relevant counterparts to disseminate restructuring best practices as well as to identify and implement areas of CSO value addition, including upstream policy work and new investment structures.
Duties and Accountabilities
The PSOO will, inter-alia,
• Support the CSO Director and the CSO Leads in the management of IFC's jeopardy portfolio, including identifying and analyzing assets in jeopardy situations, developing and executing workout plans, and guiding teams in workout strategies;
• Identify and evaluate (di)stressed equity investments within the organization's portfolio that require CSO input;
• Ensure the timeliness and quality of complex portfolio actions (such as restructuring, equity sale, and loan conversion);
• Build and maintain relationships with key external stakeholders, including clients, partners, external advisors, investors, and regulatory authorities;
• Work closely with other departments within IFC, including global and regional industry departments, risk management, credit, equity, treasury, syndications, and legal, to identify and mitigate risks associated with distressed assets;
• Develop and maintain a network of external partners, including distressed debt investors, special situations funds, and other financial institutions to expand market knowledge, help regional industry teams connect to this market niche, and facilitate resolutions in IFC’s distressed portfolio;
• Monitor and manage IFC's watchlist of potentially distressed assets, including assessing the impact of economic and market conditions on the portfolio;
• Ensure compliance with internal policies and guidelines related to distressed assets;
• Disseminate and share knowledge by using and expanding CSO’s knowledge database.
Selection Criteria
• Master’s degree in finance, business, law, economics, international affairs, or similar fields and a minimum of 15 years of experience working for a major financial institution, restructuring advisory firm, or MDB focusing on the private sector in Emerging Markets;
• Extensive experience in complex multi-lender restructurings/ workouts in various Emerging Markets jurisdictions, including deep knowledge of restructuring techniques and elements of commercial, financial and legal analysis;
• Experience in equity investments, distressed M&A, corporate governance turnaround, and shareholders conflicts resolution;
• Personal credibility and rapport; strong leadership and business judgment; strong negotiation, transaction execution, and communication skills;
• A self-starter requiring minimal supervision; ability to lead teams and set strategy for complex deals, typically under tight deadlines and a stressed environment; ability to lead other CSO and wider IFC professionals and external parties on these transactions;
• Broad and deep contacts within the restructuring professional community, including professional advisors, turnaround specialists, workout bankers, etc.;
• Track record of strong contribution to institutional knowledge management, sharing of lessons learned and proactivity in suggesting improvements to established practice;
• Ability to contribute to CSO’s Departmental strategy and to support unit initiatives;
• Unquestionable integrity, commitment to development, alignment with the WBG core values, strong work ethics.
Note: This internal requisition is open to WBG and IMF staff only (including short-term and extended term consultants/ temporaries). External candidates are requested not to apply. In case an external candidate applies, their application will not be considered.
WBG Culture Attributes:
1. Sense
of Urgency – Anticipating and quickly reacting to the needs of internal
and external stakeholders. 2. Thoughtful
Risk Taking – Taking informed and thoughtful risks and making courageous
decisions to push boundaries for greater impact. 3. Empowerment
and Accountability – Engaging with others in an empowered and accountable
manner for impactful results.
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.
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