Director, Institutional Risk & Governance

Legal

Contract

This is a World Bank Group grade: GI contract. More about World Bank Group grade: GI contracts.

Director, Institutional Risk & Governance

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 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. For more information, visit www.ifc.org.

IFC’s Legal, Institutional Risk and Governance Vice Presidency is looking to recruit a Director, reporting to the Vice President & General Counsel (VP&GC), to head a newly restructured department called Institutional Risk and Governance (IRG Department). The Director will be responsible for leading and managing the IRG Department comprising 80 staff, about one quarter of whom are based in IFC’s regional offices.

The IRG Department will be responsible for setting business standards and providing advice and guidance to the IFC Board, Management, and business teams in relation to four areas of non-financial business risk that may arise in IFC investments, advisory work and corporate functions. These four areas include:

• Integrity, Sanctions, Anti-Money Laundering/Combating Financing of Terrorism (AML/CFT) and Tax Good Governance: managing integrity/know your customer risks arising in IFC’s investment, advisory and corporate operations, such as corruption, fraud and economic sanctions risks; conducting AML/CFT due diligence; and promoting tax good governance;

• Operational Conflicts of Interest (COI), Corporate Confidentiality, Data Access Governance, Data Privacy, Business Technology and Regulatory Risk: advising on risks that converge around IFC’s management of operational COI when IFC has legal obligations to a client that conflict with IFC’s own rights or interests or with other IFC obligations; around corporate confidentiality obligations and commercially sensitive data, data access governance and data privacy; cyber and other business technology risks facing IFC; advising on IFC’s market conduct, mobilization, and treasury activities; handling of material non-public information; investment advisor standards; and aspects of IFC’s privileges and immunities;

• Corporate Governance: advising on corporate governance risks in IFC’s investment operations and investee companies, with associated knowledge development/leadership and client capacity building; and

• Nominee Director Center: managing IFC’s nominee director program, where IFC appoints directors to boards of investee companies in which it holds equity positions, including expanding and leveraging the nominee director cohort and promoting thought leadership of the center.

Duties and Accountabilities

The Director, IRG will report to the VP&GC and will have the following specific responsibilities:

• Manage the day-to-day operations of the IRG Department at headquarters and regional offices,

• Directly oversee the four managers/heads leading the verticals comprising the IRG Department,

• Ensure consistent and high-quality support and advice from the IRG Department to the IFC Board, Management and business teams,

• Promote cooperation and foster coordination with a wide range of clients, and internal and external partners and stakeholders,

• Coordinate with counterparts in other World Bank Group (WBG) entities, other multilateral development banks (MDBs), and international financial institutions (IFIs),

• Provide thought leadership on institutional risk, corporate governance and nominee director program both within the WBG and externally with MDBs, IFIs and other parties, and

• Support the VP&GC on subject matters covered by the IRG Department.

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 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. For more information, visit www.ifc.org.

IFC’s Legal, Institutional Risk and Governance Vice Presidency is looking to recruit a Director, reporting to the Vice President & General Counsel (VP&GC), to head a newly restructured department called Institutional Risk and Governance (IRG Department). The Director will be responsible for leading and managing the IRG Department comprising 80 staff, about one quarter of whom are based in IFC’s regional offices.

The IRG Department will be responsible for setting business standards and providing advice and guidance to the IFC Board, Management, and business teams in relation to four areas of non-financial business risk that may arise in IFC investments, advisory work and corporate functions. These four areas include:

Selection Criteria

• JD or equivalent law degree and a minimum of 15 years of experience in managing non-financial business risks and governance matters,

• Business technology qualification (including with AI) would be a plus,

• Experience at a MDB or a financial institution advising business teams on institutional risk and governance including the above areas,

• Skills that combine legal, business and technological acumen with expertise in the technical risk areas outlined above,

• Strong track record of professional excellence, substantive expertise and thought leadership,

• Strong interest in development and commitment to the values of the WBG and the IFC,

• Digital dexterity and fluency,

• Impeccable ethics and integrity,

• Strong track record of sound professional and personal judgment, demonstrated ability to exercise independence in decision-making,

• Demonstrated ability to innovate and constantly improve processes, services and products and leading corporate initiatives,

• Strong track record of overseeing senior staff and developing, coaching and mentoring staff at all levels, including provision of consistent, accurate and straightforward feedback regarding strengths and developmental needs,

• Demonstrated commitment to values of diversity, equity, inclusion, and teamwork,

• Demonstrated ability to focus on the big picture, including the overall framework for development,

• Interpersonal acumen and communication skills to effectively and proactively discuss complex and controversial topics with a diverse audience, including the IFC Board of Directors, Senior Management and clients,

• Tact, diplomacy and discretion to foster strong relationships with diverse constituencies,

• Demonstrated ability to set strategic direction and ensure implementation,

• Excellent communication and presentation skills,

• Demonstrated ability to deal with complexity, ambiguity and crisis,

• Meet WBG managerial selection criteria, including courage of your convictions, leading the team for impact, influencing across boundaries, fostering openness to new ideas, and building talent for the future.

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.

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Added 5 days ago - Updated 6 hours ago - Source: worldbank.org