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The mission of the International Finance Corporation (IFC), the private sector arm of the World Bank Group, is to promote sustainable private sector investment in developing countries, helping to reduce poverty and promote shared prosperity. IFC promotes sustainable development through the provision of investment and advisory services, including promotion of sound corporate governance policies and practices. IFC’s Environment, Social and Governance (ESG) Department (CEG) makes an important contribution to IFC’s mandate – deploying ESG expertise to clients and other partners around the globe.
The CEG Regional Lead – Corporate Governance (RLCG), Africa is a senior specialist function whose primary role is to support the CEG Global Corporate Governance Manager and CEG Regional Manager to deliver the region’s work program. The RLCG role entails three complementary but distinct accountabilities which are:
- Corporate Governance (CG) Risk Management, as the senior CG resource in the region, providing project level support during early review stage and throughout the project cycle, and as part of portfolio monitoring.
- Performance oversight and career development for regionally-mapped CG Officers, in alignment with World Bank Group Managerial Competencies, and oversight of STCs.
- Contribute to regional leadership of CEG’s ESG Advisory practice, in collaboration with Regional Lead – ESG Advisory Services (RLAS), the Regional Team Lead – Direct Investment (RTLDI) and the Regional Team Lead – Financial Institutions (RTLFI).
The RLCG position resides within a management matrix. As such, the position requires proactive communication with:
- Regional and Industry departments’ new business and portfolio management teams; and
- within CEG, with the Lead Environmental or Social Specialist (LESS), RTLDI, RTLFI and RLAS.
The RLCG reports to the CEG Global Corporate Governance Manager with a dotted reporting line to the CEG Regional Manager for Africa.
Duties and Accountabilities:
CG Risk Management – Concept, Appraisal, Investment Review, Management/Board Approval, Commitment/Disbursement
- Develop and periodically update CG Investment Support strategy for the region in consultation with the Global CG Manager and aligned with Country Strategy Framework for each regional country.
- Provide input on Corporate Governance Reviews (CGR) or ensure delivery of Corporate Governance Assessments (CGA) of relevant investment projects as described in CG Directive and Procedures.
- Participate in or delegate Investment Review Meetings in the region when a CGA has been conducted.
- Provide investment teams with clear and timely CG advice and input from Concept through Commitment/Disbursement.
- Support business development in collaboration with regionally based industry or business development managers, by providing advice on potential CG-related risks in target sectors/industries.
- Collaborate closely with the Transaction Leader, LESS, IFC Lawyer, and other team members of investment projects for effective discharge of his/her roles and responsibilities.
CG Risk Management – Portfolio
- Develop CG Portfolio Support strategy for the region in consultation with the Global CG Manager and aligned with the Industry Strategy for each regional country.
- Provide input to the portfolio officers to monitor implementation of CG covenants and/or CG improvement program by portfolio clients.
Staff and STC Management and Development
As delegated by the CEG Regional Manager, the RLCG will;
- Oversee and coordinate the work of regionally mapped CG Officers and STCs assigned to investment support role.
- Act as ePerformance Supervisor for regionally-mapped CG Officers. Support and guide direct reports to develop performance objectives.
- Ensure timely and adequate staffing of CG Officers to projects.
- Provide specific feedback to the CEG Global Corporate Governance Manager and CEG Regional Manager on operational performance for regionally-mapped CG Officers, to be used in departmental-level performance and talent reviews.
- Assist with recruitment and onboarding of new CEG employees and consultants (including developing TORs, identifying candidates, interviewing, and checking references).
- Manage process of identifying, contracting, training and supervising deliverables from regionally based consultants with the support of both global and regional colleagues.
- Support the CEG Global Corporate Governance Manager and CEG Regional Manager in team building and good coordination and collaboration among the regional CG Officers and consultants
Input into Regional ESG Advisory Activities
The RLCG will collaborate with the RLAS, RTLDI and the RTLFI to identify opportunities for ESG advisory in the region and ensure technical quality assurance. This will include:
- Timely identification of pipeline and portfolio clients that could be considered for AS support.
- Identification of systematic issues experienced by clients or at the market level hindering the development and implementation of effective CG practices that could be addressed through AS support.
- Delivering AS engagements and/or Enhanced Client Support, as needed on a demand driven basis to IFC clients.
- Reviewing (or delegating as appropriate to subject matter specialists) and providing feedback on AS work products, including project documents, client assessments or proposals, training curricula, reports, etc.
- Active and consistent communication across the matrix, at both the pipeline, project, portfolio and strategic levels.
- Actively participate in CEG Team Lead meetings and hold regular regional team meetings that are focused on communicating information (information from the CEG regional leadership and Industry Departments meetings, potential pipeline, technical industry information, etc.), identifying best practice, implementation of new tools and approaches, driving consistency of practice with the corporate governance team and conveying lessons learned through QA reviews.
- Represent CEG and IFC, as appropriate, in relevant regional internal/external public forums as needed by the CEG Regional Manager.
- Support CEG in achieving IFC corporate initiatives, as agreed with CEG management.
- Participate in global and regional knowledge product development aimed to maintain IFC’s thought leadership role.
- Provide training to investment and advisory staff in the region.
- Master’s in business administration (MBA), law degree or other relevant graduate degree.
- Minimum of ten years’ experience in a field or fields related to corporate governance — including but not limited to accounting and audit, legal, securities and stock market development, management consulting, technical assistance, etc.
- Strong, well-rounded working knowledge of common CG topics and issues in emerging markets, such as board structure and functioning, shareholder rights and protections, control environment, risk management, internal audit, disclosure and transparency, stakeholder governance, family business governance, financial institution governance and state-owned enterprise governance.
- Ability to develop and maintain strong relationships with key IFC investment professionals, satisfying their confidence in your technical expertise in front of senior level client representatives.
- Robust client service and communication skills in order to interact authoritatively and constructively with client board members, senior executives and shareholders.
- Excellent communication skills (spoken and written English a must, spoken and written French desirable), technical ability, and personal reputation/stature to represent IFC-World Bank Group as a senior level CG expert at conferences, trainings, and other high-profile public events.
- Familiarity with various investment structures and the related CG implications.
- Experience with legal investment agreements and how CG requirements can be effectively tailored and integrated for a given transaction.
- Familiarity with integrating environmental and social issues with CG in investment transactions, training material, and thought leadership efforts.
- Confident decision maker, balancing speed and thoroughness when there is uncertainty, knowing when to act, seek support or escalate decision making.
- Effective team leader and delegator, able to set clear expectations to facilitate team members’ success.
- Comfortable feedback provider, able to provide culturally sensitive and effective feedback and to identify strengths and growth opportunities in colleagues.
Poverty has no borders, neither does excellence. We succeed because of our differences and we continuously search for qualified individuals with diverse backgrounds from around the globe.
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