Location: Washington, D.C.
Company: International Finance Corporation (IFC)
Background / General Description
The new Business Risk and Compliance Department of IFC (CBRCD), under the IFC Risk and Sustainability Vice-Presidency, is responsible for the oversight of certain non-financial business risks and providing advice to the IFC Board, its Management and client departments in relation thereto in the context of IFC’s operational, advisory and corporate functions. Specifically, the Department supports client departments by developing policies and procedures and providing advice to assist in the management of non-financial risks relating to (i) the delivery of IFC’s annual program of financing private sector projects and mobilization of third party capital in emerging markets; (ii) project portfolio management; (iii) advisory services operations; (iv) oversight of integrity risk, anti-money-laundering/combating the financing of terrorism (AML/CFT), sanctions and debarment; (v) IFC’s emerging market nominee directorship program; (vi) management of operational conflicts of interest; and (vii) corporate policy and operational matters. In furtherance of these responsibilities, CBRCD has developed and runs training programs for client departments and Management both in Washington DC and in field offices.
CBRCD is a led by IFC’s Chief Compliance Officer, and encompasses the following functions:
- Business Standards Setting and Advisory (including integrity risk, conflicts of interest and market conduct activities)
- Policies and Procedures Framework and Systems Design
- Monitoring, Supervision and Compliance Audit.
These functions operate against the background of IFC’s Articles of Agreement as an international organization and in particular IFC’s privileges and immunity from national regulation regimes.
The Integrity Risk function is responsible for oversight of integrity risk, AML/CFT, as well as sanctions and debarment, in both IFC’s investment and advisory services operations. The function works with operational teams in counseling them on identified integrity risk flag issues and making recommendations. It also assists other departments within IFC, and IFC Management on integrity risk related matters, while coordinating activities as IFC’s Liaison with the World Bank Group’s Institutional Integrity Vice Presidency (INT).
To support these activities, CBRCD is recruiting a Senior Risk Officer, to be based in Washington, DC. Willingness to relocate to an IFC field office over time would be a plus.
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 year term appointment.
Duties and Accountabilities
The Senior Risk Officer will assist primarily in the execution of CBRCD’s Integrity Risk function, focusing on providing support in the following substantive areas:
- Advising transaction teams with an independent voice on all core aspects of integrity risk (including AML, fraud, corruption, sanctions and debarment) as they impact clients and partners in IFC’s investment and advisory programs across IFC’s decentralized operations.
- Evaluating assessed integrity risks, making recommendations, providing solutions and determining next steps to mitigate risks for IFC operational staff (investment and advisory) as well as provide input to IFC Management and Board;
- Working with IFC’s operational staff throughout new business and supervision cycles to address onging integrity-related risk due diligence outcomes;
- Providing knowledge, expertise and leadership to address IFC’s unique integrity risk and reputational issues associated with implementing its development mandate
- Having responsibility for a subset of countries/sectors in which IFC invests and/or provides advisory services, and collaborating closely with other transactional risk oversight units in IFC’s Risk and Sustainability Vice Presidency;
- Participating in corporate initiatives and working groups to identify possible integrity risk concerns and facilitate solutions;
- Supporting the Department’s liaison work with INT;
- Monitoring global initiatives in the area of integrity risk;
- Developing and executing training plans for client departments and IFC Management to raise staff awareness for integrity risk issues, in collaboration with colleagues across CBRCD;
- Liaising with other World Bank Group entities, other multilateral development banks, and other external stakeholders.
- At least 10 years’ experience in advising on matters of integrity risk, AML/CFT, fraud and corruption, sanctions and debarment in investment/advisory operations in emerging or frontier markets.
- Experience working within or for an international organization or multilateral development bank is a plus. Financial markets experience, particularly in the area of client/partner integrity, is also a plus.
- Highly developed technical skills on integrity risk matters, and proven ability to advise on and work with complex and evolving fact patterns, and to provide concise guidance and recommendations.
- Demonstrable experience in developing and giving effective and engaging training presentations.
- Recognized team player with a proven ability to build effective client relationships and a genuine commitment to sharing knowledge and expertise.
- Ability to confront new challenges and areas with energy and enthusiasm.
- Responsiveness and ability to deliver high quality work within deadlines.
- Diplomacy, strong negotiation skills and solid judgment.
- Highly developed personal integrity, strong values and ethics with high standards of transparency and fairness
- Commitment to the World Bank Group and to IFC’s mission, strategy and values
Please note that only short-listed candidates will be contacted.
Please apply to this position via http://bit.ly/1Qz1uZW