Closing Date: 3rd May, 2024
Description:
IFC — a member of A Multilateral Development Bank — 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.The Legal Department of IFC (CLED), under the Vice President and General Counsel, Legal and Compliance Risk, is responsible for providing legal and policy advice to the IFC Board, its Management and client departments on operational, advisory, and corporate matters. CLED supports client departments in (i) the delivery of IFC's annual program of financing private sector projects in emerging markets, advisory services, as well as early stage engagements and pre-investment project development work to identify opportunities for private sector investments and creating markets (“Upstream”); (ii) project portfolio management (including jeopardy projects and projects in litigation); (iii) the delivery and design of structured finance products, sub-national lending, equity and quasi-equity and public-private partnerships, and investments in funds, as well as platform products; (iv) advising on corporate policy and operational matters; and (v) knowledge management and training.
The WBG Evolution Roadmap sets a direction for IFC which emphasizes the ever-increasing importance of private capital mobilization (PCM). It amplifies IFC's role of catalyzing private sector financial flows through existing mobilization channels and programs (B-Loan Program, MCPP programs, Debt Capital Markets, Risk Participations, Credit Insurance). It contemplates a new mobilization platform focused on portfolios of IFC loans - a Warehouse Enabled Securitization Platform (WESP). In addition, the Syndications department continues to develop innovative ways to enhance ways to mobilize capital. CLED is responding to these corporate priorities by strengthening the resources available to, and the structure of, our mobilization team. Therefore, we are filling a position of Chief Counsel to be based in Washington DC. The Chief Counsel will be critical to ensuring CLED can support materially increased delivery in respect of traditional mobilization and support the development and roll out of new platforms and programs. This includes overseeing the work of the CLED mobilization Practice Group comprising Product Specialists (and other lawyers and staff) focusing on, among other areas, MCPP, B-Loans, P&I and umbrella for mobilization (including PCS), Debt Capital Markets, Credit Insurance.
Duties and Accountabilities:
The successful candidate will:
- Provide leadership in relation to debt mobilization activities of the Corporation, including by providing guidance to IFC and VPU management.
- Resolve legal, policy and deal structuring issues associated with debt mobilization.
- Provide thought leadership and strategic advice on new platforms for mobilization, including WESP and other securitization initiatives, and other single asset and portfolio approaches to mobilization (including those contemplated by the Evolution Roadmap).
- Provide leadership to CLED and Syndications staff for the rollout and implementation of new mobilization initiatives. Advise Syndications and Treasury management on issues related to mobilization. Liaise with the Syndications Department to ensure support for its goals and deliverables. Take the initiative to understand new business needs of the Syndications Department, and anticipate legal, policy and structuring issues.
- Oversee a team of CLED Product Specialists focused on sub-specialties of mobilization. Ensure regular meetings, knowledge exchange, and dynamism of the Practice Group. Support Product Specialist to improve Knowledge Management for CLED project lawyers.
- Provide opportunities for growth and increased responsibility for Product Specialists and junior staff both to advance their advance their professional development.
- Create opportunities for CLED lawyers to expand their ability to support mobilization across regions and sectors.
- Ensure internal client satisfaction and responsiveness to client needs.
- Act as legal point of contact with other MDBs and DFIs on mobilization issues and shared goals of increasing PCM.
- Liaise as necessary with the legal leadership of private sector mobilization partners to address legal, policy or regulatory issues as necessary to improve delivery of PCM.
- Provide legal advice in complex and novel IFC projects and products, including structuring, documenting, negotiating and overseeing all legal aspects of delivering IFC operations.
- As part of agreed reporting lines, supervise identified legal and non-legal staff.
- Mentor and coach junior legal and business colleagues, provide leadership in designing and delivering trainings as well as sharing knowledge.
- Bolster the visibility of IFC and CLED internally and externally as thought leaders in areas of legal issues and risks in development financing.
- Assume such other responsibilities as necessary.
