Senior Climate Finance Specialist

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Description

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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. Our mission is to leverage the power of the private sector to end extreme poverty and boost shared prosperity on a livable planet. 

The Financial Institutions Group (FIG) is one of the major industry groups at IFC, responsible for managing roughly 40% of IFC’s overall business in terms of volume and capital at risk. 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 to IFC’s clients through IFC’s global network.

IFC’s priorities in FIG as an industry group are:

• grow investment and advisory solutions in the region, and achieve strong profitability and impact 
• build new and nurture existing client relationships to make IFC the preferred partner for key clients 
• manage portfolio of assets for strong profitability and impact; 
• support local companies, while improving transparency and corporate governance; 
• catalyze foreign investment, including mobilizing B loans and parallel loans;
• introduce and develop new financial solutions, products and platforms; 
• build long-term partnerships with strong regional players and 
• develop client, sector and country-level solutions through upstream and downstream interventions that can be scaled and replicated; 
• be a thought leader and innovator of products and client solutions globally; and 
• deliver on ambitious climate finance investment targets across multiple sectors within FIG.

 Climate Business is one of the strategic priorities of the WBG, and IFC has developed an ambitious climate action plan to reach a climate target of 35% by 2025. The focus is to support IFC’s client FIs build viable and scalable climate finance operations, leveraging their client base and partnerships with various market players such as energy utility companies, energy service companies, equipment vendors, international supply chains and various players who support the promotion of climate smart investments and emissions reduction.

 IFC is seeking an experienced Senior Climate Specialist to support the implementation of a successful FIG Climate Business program in Northern and West Africa. The Specialist will work with a multi-disciplinary team to assist partner financial institutions and other program partners to develop and deliver on the program. The Specialist will also work closely with the global network of practitioners to contribute to and share knowledge and best practices. S/he will also be responsible for working with a broad range of public and private sector stakeholders to identify climate business opportunities in the market, and to disseminate lessons learned from IFC’s program to make a substantive impact on sustainability and climate change agenda in the market through FIs. The Specialist will be based in one of IFC’s main offices serving the sub regions and will be required to travel regionally. The Senior Climate Finance Specialist will report to the Senior Manager, FIG Sustainable Finance based in Washington, DC.

 The Senior Specialist is expected to support the FIG team to generate new business leads for investment and advisory services focused on Climate risks and opportunities, and implement and monitor a portfolio of investment and advisory projects with financial institutions (FIs) focused on climate and nature finance. He/she will have responsibility for supporting the FIG regional and global teams in the development of product strategy, supporting Client Relationship Leads and providing technical expertise and support to the AS and IS transactions through the entire project life cycle from business development through supervision.

Duties & Responsibilities will include but not be limited to:

Scope technical and commercial market potential for climate finance in targeted countries and identify opportunities that might be relevant to IFC’s FI clients including:

• Prepare, update and implement IFC’s Climate Finance strategy in the region to address climate change issues, including identifying gaps and needs,  formulation of motivation/drivers for end-users to implement climate friendly projects, and preparation and updating of applicable tools, manuals and procedures;
• Actively develop new business for both investment and advisory services;

Provide applied investment and advisory support to all dimensions of climate finance including:

• sources and intermediaries of climate finance, such as international vs. domestic sources, and public vs. private sources
• financial instruments used to mobilize and distribute the funding, such as green, social, sustainability bonds, loans, grants, project-level equity, and balance sheet financing (both debt and equity portion) 
• the type of activity financed – mitigation, adaptation, or both 
• and the sectors that are targeted, which are mainly energy systems, transport, buildings and infrastructure, others and cross-sectoral, water and waste, land use, and industry.
• With AS team; design, develop, and lead targeted climate finance advisory program(s) with partner banks, including training and monitoring components, to improve climate related credit underwriting, risk assessment, portfolio management and reporting practices;
• Provide expert advice to investment and advisory services teams and external financial sector clients on the potential and scope for the climate finance sectors, to help identify opportunities on the market for FIs and to help formulate both investment and advisory strategies to grasp those opportunities.
• Provide technical inputs and support IS and AS teams on transactions including:
• Working with business development leads and hub leaders in marketing the product to clients;
• Conducting Climate Finance diagnostics/appraisals with clients, drafting of appraisal reports, client proposals, leading/contributing to internal AS/IS transaction documentation, consultant terms of references, etc.;
• Provide inputs to the investment negotiations with clients including project scope, targets, work plan details and advisory agreements, and;
• Support the program to develop standardized policies, procedures and training materials that can be tailored for individual banks;
• Conduct training to FIs and help to identify and manage consultant teams to ensure quality and timely delivery of Climate Finance Investment and Advisory to IFC clients;
• Monitor the progress and impact of projects through regular reporting and evaluation of consultants and project performance;
• Carry out technical due diligence in line with IFC climate standards, and work with the legal team to ensure contract conditions include necessary guidelines and reporting procedures;
• Ensure implementation of reporting formats for the FIG Climate portfolio to be used by bank management and IFC; and, where possible, gain insight into the portfolio management procedures and data processing to improve decision making;

Selection Criteria

• As the role requires deep knowledge of climate finance and its integration with financial institutions. The successful candidate will have;
• Minimum 8 – 10 years of work experience in the structured finance particularly in the technical and financial structuring aspects of energy efficiency and renewable energy project finance and investment;
• Previous consulting experience (management consulting, strategy consulting or technical consulting) or sustainable finance in an international financial institution are required;
• Awareness/familiarity with IFC processes and procedures, Climate Definitions and Guidance Notes, Green Bond Principles, and donor and bilateral programs in Climate Finance including the capacity building and technical advisory initiatives;
• Demonstrated experience in Climate risk management and measurement within financial Institutions is a strong plus.
• Deep understanding & experience 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 financing;
• Extensive knowledge of clean energy, climate smart agriculture and environmental markets in the region and knowledge of international best practices and global trends in the industry;
• Good understanding of the perspective of the private commercial banks, private equity, 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 and sell to them;
• Familiarity and confidence to be able to lead tasks with minimal support, negotiate and be effective in a matrixed working environment;
• Excellent writing, communication and presentation skills in English and French are required;
• Experience and proven ability to work with senior management of Government institutions, industry associations, private sector technical players and financial institutions, through technical competence and excellent interpersonal skills;

Source: https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=30214&site=1

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