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. Our mission is to leverage the power of the private sector to end extreme poverty and boost shared prosperity on a livable planet.
The Legal Department of IFC (CLED), under the Vice President and General Counsel, Legal and Compliance Risk, provides legal and policy advice to the IFC Board, its Management and client departments on operational, advisory, and corporate matters. CLED supports client departments in (i) the delivery of IFC’s annual program of financing private sector projects in emerging markets, advisory services, as well as early stage engagements and pre-investment project development work to identify opportunities for private sector investments and creating markets (“Upstream”); (ii) project portfolio management (including jeopardy projects and projects in litigation); (iii) the delivery and design of structured finance products, sub-national lending, equity and quasi-equity and public-private partnerships, and investments in funds, as well as platform products; (iv) advising on corporate policy and operational matters; and (v) knowledge management and training.
In particular, areas on heightened importance for the region include:
Mobilization: In FY24, out of $16 billion commitments booked in LAC, a full 50% ($8.09 billion) were mobilization (with $5.6 billion own account LTF and $2 billion STF).
• Innovative products such as local thematic bonds: These instruments have been extensively used and continue to be very much in demand in the LAC region and IFC has been a pioneer in innovating in this space by issuing some of the first thematic bonds in certain areas (i.e., Blue Bonds, Amazon sustainability linked bond, etc.)
• Non-financial risk: One of the main non-financial risks refer to litigation that has arisen in the last few years in CTA/ Upstream/ Mainstream operations, in particular in Brazil.
• Equity: Increasingly large equity tickets in LAC that require specific equity expertise, knowledge of local markets and laws and ability to navigate market nuances and intelligence in sensitive areas.
To support the growing IFC’s activities in Latin America and the Caribbean (LAC), CLED is recruiting a qualified Counsel to be based in Bogota, Colombia or other LAC office. The Counsel will report to the LAC Assistant General Counsel.
Role and Responsibilities
The successful candidate should be able to assume primary lawyer responsibility, work autonomously and exercise independent judgment on straightforward financing transactions, advisory projects and upstream engagements, in the financial and real sector and follow-on investments with existing clients. This includes advising internal clients at the business development stage, term sheet stage, and drafting and negotiating the relevant legal documents. The successful candidate is also expected to be able to provide “second chair” support on more complex transactions with a senior colleague.
The Legal Counsel will have the following duties and responsibilities:
General Duties:
• Handle portfolio work, including preparing amendment and waiver documents, working on subsequent closings and disbursements, and managing simple equity sale arrangements;
• Update guidance, manage precedents, and work on legal and IFC policy research;
• Be knowledgeable about the laws of at least one relevant jurisdiction in the region related to commercial and company law / banking and finance; and
• Have demonstrated the competence needed to satisfactorily perform a variety of different and, at times, complex assignments to support the Legal Department.
Research:
• Be proficient in the use of varied legal research sources, i.e., information databases, internet services, library sources; and
• Have proven legal analytical skills, as demonstrated through research and analysis of a wide range of legal issues and the ability to present results/ recommendations clearly and concisely.
Productivity:
• Have the ability to advocate positions and explain them to internal and external clients orally and in writing; and
• Have the ability to manage a number of projects/ tasks at the same time.
Communication:
• Interact and effectively communicate with colleagues in Washington and offices in LAC, to share knowledge and experience gained in own projects;
• Be able to explain and defend IFC’s approach in its standard loan and equity clauses and has developed an approach for successful negotiations;
• Effectively communicates corporate policies and objectives to internal and external clients orally and in writing;
• Be able to handle communications and articulate instructions to external counsel and external parties and follow-up with the same with a view to finalize IFC positions including in terms of drafting documents; and
• Advanced writing skills to be able to prepare legal agreements and contracts using technical legal terminology in English and Spanish.
Judgement:
• Handles the tasks noted above with limited to no supervision; and
• Demonstrated ability to apply good legal judgment in context of assignments.
Teamwork:
• Can interact effectively within the Legal Department staff, other IFC departments, and senior personnel representing external clients;
• Able to participate in and contribute to departmental working groups and committees and training initiatives; and
• Participates in and organizes corporate initiatives and training programs.
Mentoring:
• Actively promotes effective transfer of knowledge/skills; and
• Provides guidance to more junior staff in the Legal Department.
