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 the impacts of global compounding crises.
IFC is a recognized leader in Environmental and Social Sustainability. Our Performance Standards are widely regarded as a leading global benchmark for the private sector in emerging markets.
This is an exciting opportunity to join a high-performing senior team tasked with working in an impactful environment and social oversight department. The Environmental & Social (E&S) Policy and Risk Department (CES) was created in July 2019 and reports directly to the CEO. Seeded with 12 seasoned staff, the department has grown to around 30 team members. CES has a mandate to enhance IFC E&S risk management and is seeking several experienced E&S Specialists to provide risk management related to IFC’s infrastructure, manufacturing, agribusiness, extractives, and services business.
Duties and Responsibilities:
New business: Reviewing project concept documents, including E&S category, scope of proposed E&S diligence, E&S requirements, contextual risk, etc. and reviewing each processing stage of high E&S risk transactions.
This may include:
Understanding the project scope, the financial investment structure, the extent of the client’s leverage and access to information.
Identifying E&S risks and any gaps in proposed E&S risk management approaches.
Advising on structuring, appropriate mitigation measures and contractual alignment of interest to address risks and impacts.
Opining on risk and mitigants as proposed by teams in project disclosure documents, board papers, E&S provisions in legal agreements, etc.
Engage with project teams as necessary.
Contribute to development of high-quality work products that clearly and logically frame and concisely communicate risks and mitigants.
Portfolio: Portfolio monitoring, particularly reviewing clients’ reporting, investment team E&S monitoring reports (and supporting documentation), portfolio reviews provided by CEG and performing independent analysis of IFC’s portfolio to:
Maintain a WatchList of high risk, non-performing or complaint generating projects.
Coordinate with CEG staff to build a clear picture of the issues associated with each WatchList client and review recovery action plans proposed by the investment team for agreement with the client.
Perform assurance/audit reviews of IFC diligence and monitoring work quality on selected projects.
Conduct sector/region specific portfolio analysis to identify and assess risks and trends and quality assurance.
Identify issues and operational weaknesses that are systemic, thematic, or of policy nature and propose procedural or policy clarifications as needed.
Contribute to regional supervision program reviews.
Grievance Response: Support CES’ grievance response function in monitoring projects with CAO or other E&S complaints and work with project teams, particularly the CEG social specialist, to proactively engage clients in finding solutions and addressing non-compliances. Serve as an independent Peer Reviewer on CAO compliance investigations and help the team in developing the corporate Management Response.
Policy and Knowledge Management: Contribute to the update of policy documents and developing guidance and procedures based on lessons learned in the new business, portfolio, and grievance response roles. Lead and contribute to the development of training, accreditation, and guidance of specific topics.
Grievance: Monitor projects with CAO or other E&S complaints and work with project teams to proactively engage clients in finding solutions and addressing non-compliances. Serve as an independent peer reviewer on CAO compliance investigations and help teams in developing the corporate Management Response.
