World Bank Group
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 2023, IFC committed a record US$43.7 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.
Private sector financial development is essential to the promotion of successful and sustainable economies in low and middle-income countries around the world. Sound and efficient financial markets can ensure that resources are allocated where they are most productive, assisting job creation and spurring economic growth. IFC’s goal is to prioritize investment in the financial sector because it promotes development in all other sectors.
The Financial Institution Group (FIG) is one of IFC’s key Departments responsible for a significant portion of IFC’s business volume, profitability, and development reach, approximately 40%. FIG engages in a wide range of sub-sectors including Microfinance, SME, Gender, Climate, Insurance, Capital Markets, Housing, Distressed Assets, and other areas, with both investment and advisory services delivered globally to IFC’s clients through IFC’s global network. FIG has three main objectives: 1) financial inclusion 2) servicing the real economy and 3) mobilizing third-party resources.
FIG’s South Asia team is based across the region with main hubs and offices in India, Bangladesh, Bhutan, Nepal, and Sri Lanka. The team members work on both new business development and portfolio management across the region. With a diverse network of markets, the pipeline of new transactions ranges from investing fresh equity in banks to structured finance products that help develop local capital markets.
FIG South Asia Regional Industry Team is seeking an Associate Investment Officer based in Mumbai with good local market and industry experience to help grow and develop its business in India as well as across the region.
Roles and Responsibilities
The roles and responsibilities of the role include but are not limited to:
- Work with the team on developing new opportunities, managing internal and external stakeholders, investment processing, and portfolio management
- Collaborate in developing client strategies/ engagement plans and pitch books for industry and countries
- Analyze operational and financial performance as well as credit and integrity risks of potential clients/ projects
- Perform assessments related to Paris Alignment and Climate Risk in investments
- Build complex financial models, perform due diligence and financial analysis, and/or provide quality control over financial analysis/ projections developed by analysts to evaluate the benefits and risks of transactions
- Assess and articulate development impact and IFC’s role/ additionality in transactions
- Lead investment transactions incorporating lessons learned from IFC’s earlier investments and portfolio management
- Coordinate with internal stakeholders to identify ways to strengthen development impact and financial sustainability of projects
- Perform credit and risk assessments, financial projections, and covenant compliance reviews; impact reporting, and monitor changes to risk flags to determine the performance of the assigned portfolio with limited supervision
- Responsible for rating reviews or loan loss reserve on a quarterly basis for the overall assigned portfolio. Run models for equity valuations to determine the need to modify the exit strategy
- Supervise and ensure quality of portfolio reporting information prepared by junior staff, providing broader industry, sub-sector, and country perspective into project risks and issues
- Engage with mid-level clients of projects to understand their business directions and challenges that may lead to new opportunities, and support the design of client engagement plans, as applicable
- Follow up with mid and senior-level clients to resolve problems on projects
- Master’s degree in finance, economics, or other related areas; accreditation as CFA or CPA is considered equivalent
- At least 5 years of experience with a proven track record of sourcing, structuring, and closing investments preferably both in equity and debt, including Capital Markets
- Sound understanding of financial structures used to finance climate-friendly projects as well as how banks, insurance companies, capital markets, and other financial intermediaries typically work in the area of climate-friendly financing
- Extensive knowledge of clean energy and environmental markets in Asia and knowledge of international best practices and global trends in the industry
- Good understanding of the perspective of commercial banks, insurance companies, and other financial intermediaries, including their business drivers, the scope of their operations, and their interests, so as to be able to successfully engage
- Expertise/familiarity with metrics and tools for tracking climate investments, including GHG accounting
- Awareness/familiarity with IFC Climate Definitions, ICMA Principles, and Climate Risk
- Good understanding of IFC’s financial instruments, requirements, main investment agreements/ standard contracts and provisions, all aspects of transactions to provide input for an optimal structuring of a prospective opportunity, and internal deal and portfolio processing
- Understanding of industry drivers, business/ market development cycles, and how business performance and long-term competitiveness/ viability are measured within the industry and how industry dynamics may evolve within a country/ region
- Proven analytical, financial analysis, equity valuation, and financial modeling skills to analyze and form conclusions on company financial information or projects and industry indicators. Able to oversee and provide quality control feedback on financial models prepared by analysts
- Understanding of credit and non-financial risks associated with straightforward projects and specific aspects of a complex project, and how to satisfactorily mitigate those risks based on the understanding of how IFC assesses risk/ reward tradeoffs
- Capacity to identify barriers to market creation opportunities in a targeted country by tapping into relevant internal expertise and synthesizing information on local regulatory and economic context, industry/ sector and landscape, and constraints clients are facing to grow their business
- Capacity to build productive and mutually beneficial relationships/ networks internally and externally to identify business opportunities, discuss structuring alternatives and resolve issues
- Excellent written, and verbal communication and presentation skills to effectively influence the perception/ support of clients/ stakeholders
- Ability to draft documents and reports that are concise, well-organized, and appropriately focused on the most critical points that are relevant to the target audience
- Ability to share valid opinions and new observations relevant to project outcomes with project leads in a manner that is concise, cohesive and focused.
- Excellent oral and written presentation skills in English are required
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Roles and Responsibilities
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