World Bank hiring Vice President Economics & Development Strategies
United States of America, 01 September 2016
The World Bank Group (WBG) is one of the world's largest sources of funding and knowledge for developing countries. It uses financial resources and extensive experience to help countries reduce poverty, increase economic growth, and improve quality of life.
The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity.
IFC is seeking a new VP Economics & Development Strategies to strengthen the economics function in IFC. As a member of IFC’s management team the VP Economics & Development Strategies reports directly to IFC’s Executive Vice President and CEO. The position is based in Washington D.C.
The new VP Economics & Development Strategies - a key leadership role within IFC - is responsible for providing independent and thorough economic analysis and oversight to all of IFC's operations in a complex, global and decentralized environment. The scope of this position includes accountability for all economic work across the Corporation, interface with the World Bank (WB), the International Monetary Fund (IMF) and other International Financial Institutions (IFIs) on Private Sector Development issues, development and implementation of a methodology to assess development impact of projects ex-ante, review and update of IFC results framework and development of country & sector strategies.
Given that this is a new position, the VP Economics & Development Strategies is expected to refine the scope of this new function, its size, required skillset and organization during her/his first few months in the role. S/he will directly oversee the Country Framework Engagement, Research, Results Measurement and Thought Leadership teams as well as Industry Strategists and Economists (about 120 staff). In addition, s/he will also have strategic oversight over all IFC advisory staff working with governments, in IFC, in the WB Global Practices & Cross Cutting Solutions Areas and in the Doing Business team (about 410 staff). This mandate encompasses at present some 530 staff, of whom about 40% are at headquarters and the others are located in the six geographic regions.
Duties and accountabilities
A key priority for the incumbent will be to set independent "checks and balances" to ensure business decisions are appropriately considering development impact objectives and economic return criteria. As a member of the IFC Management Team, the VP Economics & Development Strategies will also play a pro-active role in helping to shape the strategic direction of the Corporation, while providing independent Economic judgments as well objective "advice and counsel" on Economic issues to the IFC EVP & CEO. In addition, s/he has the following key areas of responsibility:
Inform decision making in IFC Operations by monitoring Emerging Market economies, performing industry research and market analysis and producing and disseminating economic analysis, forecast and country economic risk rating (in partnership with WB). Develop a methodology to assess development impact of projects/ operations ex-ante.
Contribute sound economic judgment to Client Solutions Committee (CSC) decisions. The CSC is the IFC committee reviewing and approving investment and advisory projects meeting high materiality thresholds.
Review and update the ex-post results framework (DOTS).
Interface with WB, IMF and other IFIs on all issues related to Private Sector Development (PSD).
Develop a research and thought leadership agenda on the importance of PSD and private capital mobilization to attain the SDGs in coordination with WBG Chief Economist’s department.
Be IFC’s voice and advocate for IFC’s role with various stakeholders.
In close coordination with IFC Operations, leading the development of PSD strategies by country and industry/ sector driving IFC operational work.
Strengthening and sharpening IFC contribution to WBG country/ sector strategy.
With operational departments, catalyze new ideas, business models, partnerships and innovation in IFC’s response to client, country and global development challenges.
Ensure WBG’s knowledge and experience of PSD policy and economics are captured, curated and disseminated across IFC operations and in the WBG.
Draw on findings from IFC Development Impact work to inform operations and establish a feedback loop to support innovation.
Submission Deadline: 8 Septemeber 2016
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