IFC is hiring a Africa Regional Industry Director.
Established in 1944, the World Bank Group (WBG) is one of the world’s largest sources of funding and knowledge for development solutions. The WBG consists of five specialized institutions: The International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC or the Corporation), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). Within the World Bank Group, IFC is a legally and financially autonomous institution, with its own Articles of Agreement, share capital, management and staff. IFC has its own Board of Directors which is equal in composition to the Board of the IBRD.
IFC is the largest global development institution focused on the private sector in emerging markets. It is the world’s largest multilateral source of loan and equity financing and advisory services for private sector in the developing world. Working with 2,000 businesses worldwide, IFC draws on more than six decades of experience to create opportunities and solutions where they are needed most.
With support of its shareholders and as part of its recent capital increase package, IFC embarked on an ambitious new growth strategy – IFC 3.0 – the outcome of which will be doubling the volume of Corporation’s business by 2030 and tripling the work it does in Low Middle Income (LMICs) and Low Income Countries (LICs) and Fragile and Conflict affected States (FCS). To do so, IFC will need to deploy its full range of financing, mobilization and advisory services as well as convening power and thought leadership and knowledge resources. This also calls for the need to conceive and generate opportunities for investing by proactively working “Upstream” to create, deepen, facilitate and expand markets and opportunities for the private sector and to design, catalyze and implement new investment products and projects. This strategy also relies on a closer WBG collaboration to ensure that public and private sector efforts are aligned towards encouraging and enabling private sector participation in economic activity. This supports the approach by which, when working with clients, the WBG will first seek private sector solutions to address development challenges—where such solutions are advisable and can be effective—and reserve public financing for projects only when other options are less optimal (the “Cascade” approach).
The Manufacturing, Agribusiness and Services (MAS) Group is a key industry group at IFC, responsible for managing roughly a large part of IFC’s overall business in terms of volume and capital at risk. MAS engages in a wide range of sub-sectors including light and heavy manufacturing, agribusiness, health, education, property, retail and tourism, and other areas, with both investment and advisory services delivered to IFC’s clients through IFC’s global network.
IFC’s priorities in the Africa Region for MAS are: (i) grow business in the region, and achieve strong profitability and impact (ii) build new and nurture existing client relationships to make IFC the preferred partner for key clients (iii) manage portfolio of assets for strong profitability and impact; (iv) support local companies, while improving transparency and corporate governance; (v) catalyze foreign investment, including mobilizing B loans and parallel loans; (vi) introduce and develop new financial products; (vii) build long-term partnerships with strong regional players and (viii) develop client, sector and country-level solutions that can be scaled and replicated.
IFC is seeking a Regional Industry Director for MAS, to be based in Dakar or Nairobi, who will have primary responsibility for MAS activities in Africa Region. This is a key leadership role requiring significant and demonstrated leadership and management skills.
Duties and Accountabilities
The roles and responsibilities of the position will include but not be limited to:
- Develop and implement the MAS strategy and priorities in the Africa Region, in partnership with the Regional Directors, the Country Managers, the MAS Management team and other Regional Industry Directors, with a focus on achieving strong profitability and sustainable developmental impact.
- Lead and grow the overall MAS business in the Region and is responsible for delivering financially sound, profitable, and developmental new business and portfolio management.
- Position strategically the MAS business in Africa, working closely with other Industry Regional Directors and Regional Directors in the development of the Country Strategies.
Client and stakeholder responsibility
- Leads, in coordination with the regional leadership team the design and implementation of the strategy for business development and ensures pro-active and comprehensive client and MAS portfolio management in the Region.
- Represents IFC to key clients and stakeholders in the Region, builds and maintains excellent long-term relationships with them.
- Partners with other parts of the World Bank Group, as well as other industries in the Region to seek opportunities for joint ventures, mobilization of resources and partners and collaboration and knowledge transfer among the institutions to the benefit of the clients. In collaboration with the Senior Manager Equity MAS, contribute to the delivery and execution of MAS’s regional equity strategy.
Act as Primary Supervisor for MAS Managers and Reviewing Official for other MAS staff dedicated to the Region.
Implements agreed corporate initiatives for enhancing efficiency and client service.
- The RID will have direct reporting to the Regional Vice President of Africa and dotted-line reporting to the Global Industry Senior Director for MAS.
- The RID will be part of the Core Leadership Team of the Africa VPU and of the MAS global management team.
- A PhD, Master’s degree or equivalent professional qualification in economics, finance or business and a minimum of 20 years of relevant experience.
- Commitment to the World Bank Group’s and to IFC’s mission, strategy, and values.
- Strong track record of business delivery demonstrated investment experience, superior business judgment, policy dialogue and established professional credibility, covering different financial sector institutions and markets (banks, non-banks financial institutions, capital markets, fintech, etc.).
- Excellent written and verbal communication skills and fluency in English. Knowledge of French and/or Arabic would be a plus.
- Demonstrated ability and experience to think strategically, prioritize effectively, set direction, mobilize resources, and deploy them flexibly, teamwork and collective leadership.
- Ability to work collaboratively with superior interpersonal skills.
- Ability to represent the organization to external clients and stakeholders from the public and private sector.
- Demonstrated ability to lead effectively and manage a large and dispersed team in a dynamic and multicultural environment.
- Excellent people management skills and openness to feedback; new ideas and ability to guide staff to solutions to problems.
- Demonstrated highest standards of integrity and decisiveness.
- Ability and willingness to take decisions and deal with ambiguity, as well as take accountability and hold others accountable for results.
- Ability to deliver results under stressful timetables and environment.
- Ability to build organizational capacity through system and process improvements, be a change agent and serve as catalyst for innovation.
- World Bank Group-wide managerial competencies – Courage of your Conviction, Leading the Team for Impact, Influencing Across Boundaries, Fostering Openness to New Ideas, Building Talent for the Future.
Closing Date: 7/27/2021 (MM/DD/YYYY) at 11:59pm UTC.