Description

 

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. For more information, visit www.ifc.org.

IFC’s Tourism, Retail and Property team sits within the Health Education and Services Department. The TRP sector’s business has been growing significantly. Tourism and Retail present two key sub-sectors within TRP. IFC has played a key role in supporting these sectors in developing countries and particularly during the recent COVID 19 pandemic. The team works with a wide range of investment products, from project and corporate finance on the debt side, to equity and quasi-equity in private and listed companies. In addition, the team also supports development and deployment of relevant advisory and upstream tools to strengthen private sector’s capability and development impact and catalyze further investment in sectors in the emerging markets.

To support the growth of this business, IFC is seeking a dynamic and driven Principal Investment Officer to assume the role of the Global Sector Lead for Tourism and Retail. Innovation, value addition, strategic focus, knowledge management and operationalization of the TRP playbook are key elements of the role to support the evolution of these sectors going forward.  The candidate shall display a deep understanding of the Tourism and Retail sectors, and sound business acumen/judgement, to drive and implement the strategy for these sectors and grow the investment program.

Duties & Accountabilities

The role and responsibilities of the position will include but not be limited to the following:

Strategy Setting and Operationalization:

•  Lead the formulation, development, dissemination, and monitoring of IFC’s Tourism and Retail Strategy in coordination with the Global Sector Manager, and Region Industry Teams to identify, assess, and prioritize new opportunities. Update as needed and operationalize the TRP Playbook in so far as it relates to the Tourism and Retail sectors.
•  Specifically lead IFC’s growth the E-commerce space and strategically grow IFC’s equity position in retail in close coordination with IFC Funds and Industry Equity teams as needed.
•  Deliver on the operational & strategic goals set for the Tourism and Retail sectors.
•  Build on, shape, and implement the investment and impact strategy and business development plan in the Tourism and Retail sectors and create a profitable, sustainable, consistent, high-quality growth for the portfolio in the sectors.

Innovation and Thought Leadership:

•  Innovate, develop, and as applicable oversee value-added services, innovative products and approaches, identify new areas of growth to expand IFC’s Tourism and Retail business, and create opportunities to open new markets, while building new relationships with various internal and external stakeholders.
•  Oversee fact-based analysis to identify Tourism and Retail industry shifts and to understand IFC’s sources of competitive advantage.
•  Actively engage and lead dialogue/present IFC in relevant industry fora, networks and conferences. Enhance presence on social media through active thought leadership engagement. Help build external recognition of IFC’s distinctive capabilities in TRP to catalyze greater flow of investment and development impact opportunities in the sector.
•  Lead the development and implementation of proactive communications and outreach strategies for Tourism and Retail, showcasing business results and raising the profile of IFC’s leadership in private sector development.

Strategic Relationships and Business Development:

•  Lead the Global business development and support the regional teams’ efforts. Identify and proactively support origination in close coordination with regional industry teams based on country and sector strategies and market creation potential (mapping, client coverage, pitch books preparation, joint or industry specialists’ visits as appropriate, etc.)
•  Develop client management plan, lead identification of strategic clients globally, take on relationship management for a few strategic clients, proactively support regional industry teams on strategic client work.
•  Develop impactful business development material.

Collaboration:

•  Work closely with the regions teams to identify areas to unlock business in the sectors and collaborate to enable business growth and positively impact the portfolio.
•  Lead the pipeline and portfolio review of Tourism and Retail projects, ensuring consistent high quality and alignment with the TRP objectives and key performance indicators.
•  Collaborate with counterparts and key stakeholders across IFC and WBG. Work with the World Bank to identify and help implement sector and regulatory reforms that are needed to unlock opportunities for private investment in the sector.
•  Stakeholder engagement: Create and deepen relationships with other development institutions, industry players & organizations, strategic clients, civil society and key opinion leaders.

Business Growth and Quality Improvement:

•  Help in screening, appraising, and supervising upstream, advisory and investment projects in the sectors.
•  Ensure proper input to projects at Concept and Investment Review Meetings and Board Papers reflecting up-to-date sector trends, portfolio performance and lessons learned, and provide support for specific sector related issues during project structuring, produce relevant materials for decision making, and to the extent needed, develop in consultation with Credit, key deal acceptance criteria.
•  Support Investment Officers in structuring, processing, documenting, and managing Upstream engagements. Coordinate and harmonize conditions across projects globally and advise Investment and Operation Officers and regional management on early-stage project development in their region.
•  Ensure proper evaluation and consistency of AIMM and Paris Agreement frameworks for Tourism and Retail transactions in the Investment & Advisory Services and Early Project Development space.  Applying rigor to these frameworks with projects/clients to include product, process, value chain complexity and scale.
•  Assess & prioritize the strategic and sectoral fit of Tourism and Retail projects in collaboration with the relevant industry specialist, to assist in the early-stage screening and ensure quality control.
•  Lead the processing of select complex transactions in this sector.

Knowledge Creation and Dissemination:

•  Facilitate knowledge flow across IFC and promote adoption of new approaches and best practices for TRP, including activities covering mainstream investment, upstream and advisory services.
•  Prepare and Lead regular sector operating reviews, share findings with relevant decision makers within and outside the department. Identify, analyze and disseminate information on key sector developments and market dynamics.
•  Develop guidance notes and conceptual frameworks on relevant topics for the sector.
•  Spot and share game-changing trends, technologies and business models that can bring solutions and development impact to emerging markets.
•  Conduct sector-specific data analysis, portfolio review, diagnostics, and stress-testing of various operating models to help generate ideas for new projects, new products, and platform businesses.
•  Work with portfolio managers to assure consistent sector input to portfolio management and solid feedback loop on lessons from portfolio to transaction structuring,
•  Contribute to the TRP’s knowledge management, through the development of case studies, preparation and leading of industry overviews guidance notes and primers in the relevant area of expertise.
•  Create a platform for cross pollination of regional expertise, success stories and innovative approaches.
•  Anticipate interests of Board members and senior management to determine how best to stay informed and ready to respond to requests and questions from these stakeholders, including country/region’s Tourism and Retail business programs (commitment, portfolio, and pipeline).

People and Resource Responsibility

•  Support the Global Sector Manager in staff recruitment, mentoring and skills development as needed.
•  Support in managing and ensuring productive use of admin, upstream and advisory budgets.
•  Oversee and supervise assigned staff and consultants.

 

Selection Criteria

 

•  Master’s degree in business, Finance, or another relevant field.
•  Minimum 10 years of relevant experience in financing in these sectors. Strong understanding of the Tourism and Retail sector and ability to link advisory, upstream and investment to deliver solutions.
•  Strong analytical skills, sound business judgment and demonstrated ability to synthesize complex information, identify issues and present concrete and strategic recommendations.
•  Ability to prioritize effectively, thrive in a rapidly changing environment and embrace change.
•  Genuine commitment to development and to the World Bank Group and IFC’s mission, strategy, and values.
•  Capacity to innovate and challenge the status quo and a proven track record in new idea generation, and business development.
•  Excellent people skills, openness to feedback, new ideas, and ability to guide, and motivate others. Proven track record in leading by example, in managing, mentoring, inspiring and motivating staff
•  Sensitivity for working in multicultural environment, commitment to diversity and inclusion, and ability to build effective working relationships with colleagues / clients / partners across regions.
•  Strong written and verbal communications skills in English.
•  Extensive international travel may be required.

 

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

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.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.