International Finance Corporation (IFC)
|Term Duration:||1 year 0 months|
|Recruitment Type:||Local Recruitment|
|Closing Date:||10/20/2022 (MM/DD/YYYY) at 11:59pm UTC|
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. For more information, visit www.ifc.org.
IFC has recently launched an ambitious evolution of its strategy to stimulate more investment activity, especially in Low Income Countries (LICs) and Fragile and Conflict affected States (FCS). This new strategy aims at supporting clients in riskier markets by proactively working in these countries to create, deepen, and expand the markets themselves. This strategy relies on a new approach that calls for closer WBG collaboration to maximize finance for development. We call this approach the “Cascade.” Working with clients, we 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 suboptimal.
Trade Solutions was created in 2010 to build on the success of IFC’s flagship trade program, Global Trade Finance Program (GTFP). The team manages IFC’s trade and commodity finance products and programs and develops new products for the benefit of IFC clients in FIG as well as in MAS.
IFC is seeking an Extended Term Consultant who can support GTFP’s Operations Team for processing and monitoring trade finance transactions. The consultant will report to the Head of Operations.
Duties and Accountabilities:
The Extended Term Consultant is expected to:
• Process GTFP transactions, amendments, and cancellations by working closely with GTFP regional teams.
• Work together with other Operations Team staff and contribute to ensure that transactions are consistent with all corporate guidelines, including the trade operational guidelines.
• Communicate effectively with GTFP Issuing Banks and Confirming Banks, if necessary, to clarify any issues related to GTFP transactions.
• Perform regular compliance checks.
• Track program activities by using the corporate systems and prepare activities reports as needed.
• Support processing and reporting for insurance as well as other trade finance facilities; and
• Support all other tasks requested by the Head of Operations to support GTFP Operations Team and other trade finance programs.
• Minimum 2 – 3 years of experience in trade finance with a local/international commercial bank or other financial institution.
• Knowledge of commercial banking products and services, experience in correspondent banking relationships and international trade products.
• Strong financial and credit skills along with analytical ability.
• Advanced degree or equivalent professional qualification in Business Administration, Finance, Economics or the related field is required.
• Strong teamwork and organizational skills; and
• Strong interpersonal skills, ability to interact effectively with clients and colleagues from various cultural backgrounds.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Note: The selected candidate will be offered a one-year appointment, renewable for an additional one year, at the discretion of the World Bank Group, and subject to a lifetime maximum ET Appointment of two years. If an ET appointment ends before a full year, it is considered as a full year toward the lifetime maximum. Former and current ET staff who have completed all or any portion of their second-year ET appointment are not eligible for future ET appointments.
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