Senior Climate Finance Specialist

Senior Industry Specialist - Climate Finance Specialist Description Build a career with impact. Working at the World Bank Group (WBG) provides a unique opportunity to help countries solve their greatest development challenges. As one of the largest sources of funding and knowledge for developing countries, the WBG is a unique partnership of five global institutions dedicated to ending poverty, increasing shared prosperity, and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, the WBG works with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. The World Bank Group is a global leader, investor and advisor committed to projects in its developing member countries that reduce extreme poverty and boost shared prosperity, with the Knowledge Bank (KB) as a conduit for global investment and knowledge solutions. The International Finance Corporation (IFC) finances private sector investments, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability, and provides knowledge solutions to businesses and governments in emerging markets and developing economies (EMDEs). Private sector financial development is essential to the promotion of successful and sustainable economies in low- and middle-income countries. Sound and efficient financial markets help 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 services sector is responsible for roughly 40% of IFC’s overall business in terms of volume and capital at risk. Through this business, the WBG engages in a wide range of sub-sectors including Banking on Women, MSME Finance, Sustainability Finance, Insurance, Capital Markets Development, Housing Finance, Distressed Assets, and other areas, with investment, advisory, and upstream services delivered globally to IFC’s clients through IFC’s global network. Financial Services Sector – Sustainability Finance Role & Responsibilities: This role will support the broader Financial Services Sector II team with a focus on Sustainability Finance;IFC's priorities in FIG as an industry group are: (i) grow investment and advisory solutions in the region, and achieve strong profitability and impact (ii) build new and nurture existing client relationships to make IFC the preferred partner for key clients (iii) manage portfolio of assets for strong profitability and impact; (iv) support local companies, while improving transparency and corporate governance; (v) catalyze foreign investment, including mobilizing B loans and parallel loans; (vi) introduce and develop new financial solutions, products and platforms; (vii) build long-term partnerships with strong regional players; (viii) develop client, sector and country-level solutions through upstream and downstream interventions that can be scaled and replicated; (ix) be a thought leader and innovator of products and client solutions globally; and (x) deliver on ambitious climate finance investment targets across multiple sectors within FIG. The Sustainable Finance Business is one of the strategic priorities of the WBG, and IFC has an ambitious climate target of 40%. The focus is to support IFC’s client FIs build viable and scalable sustainable finance operations, leveraging their client base and partnerships with various market players. IFC is seeking an experienced Specialist to support the implementation of a successful FIG Climate Business program in 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 IFC’s Johannesburg office or one of the other major regional hubs in Africa and will be required to travel regionally. ROLE & RESPONSIBILITIES: The Specialist is expected to support the FIG team to generate new business leads for investment and advisory services and implement and monitor a portfolio of investment and advisory projects with financial institutions (FIs) linked to the product. S/he will have responsibility for supporting the FIG team in the development of product strategy, supporting Client Relationship Leads and providing technical expertise and support to Advisory and Investment services 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 sustainable finance in targeted countries and identify opportunities that might be relevant to IFC’s FI clients including: • Prepare, update and implement IFC’s Sustainability 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 sustainable finance including: - sources and intermediaries of sustainable 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) - 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 the Advisory team; design, develop, and lead targeted sustainable 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 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 Sustainable 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 Sustainable 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 Sustainable Finance 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 sound knowledge of climate finance and its integration with financial institutions. The successful candidate will have; • Master’s degree or higher in a relevant field such as Finance, Economics, Business Administration, Environmental Finance, Climate Change, Energy, or a related discipline. • 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 experience with consulting (management, strategy or technical consulting); • Awareness/familiarity with IFC Climate Definitions and Guidance Notes, Green Bond Principles, and donor and bilateral programs in Climate Finance including the capacity building and technical advisory initiatives; • 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 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 communication and presentation skills in English language skills 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; WBG Culture Attributes: 1. Sense of urgency: Anticipate and quickly respond to the needs of internal and external stakeholders. 2. Thoughtful risk-taking: Challenge the status quo and push boundaries to achieve greater impact. 3. Empowerment and accountability: Empower yourself and others to act and hold each other accountable for results. 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.