Principal Environmental and Social Risk Officer, LAC/ECA Lead
3 years 0 months
Washington, DC,United States
7/21/2020 (MM/DD/YYYY) at 11:59pm UTC
IFC—a sister organization of the World Bank and 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 2019, we invested more than $19 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
The Environmental & Social Policy and Risk Department (CES), is a new department, created in July 2019, which reports directly to the CEO. Seeded with 12 seasoned E&S staff, the department is expected to grow to around 30 by the end of the financial year. CES is responsible for:
Policy: maintaining IFC’s E&S policies, procedures and systems;
Knowledge: developing knowledge products training and accreditation for IFC staff;
Risk: providing E&S policy and risk oversight of the high-risk projects in IFC’s investment and advisory pipeline, and high-risk and non-performing projects in IFC’s investment portfolio;
Grievance Response: providing support and training to operational teams in responding to complaints associated with IFC’s clients as well as in responding to the Compliance Advisory Ombudsman (CAO), IFC’s independent accountability mechanism.
CES works in close collaboration with IFC’s investment departments and the ESG Sustainability Advice and Solutions Department (CEG) which has 150 professionals and is housed in IFC Operations.
IFC is unique among Development Finance Institutions in having this cadre of in-house environment, social and corporate governance experts. More details can be found at www.ifc.org/sustainability. It is through this expertise that CES and CEG: (i) partner with IFC’s investment and advisory departments to manage ESG risks associated with their activities and find solutions to client issues and (ii) leverage ESG expertise and operational experience in emerging markets to maintain IFC’s leadership in sustainability through ESG standards – the Environmental and Social (E&S) Performance Standards (www.ifc.org/performancestandards) - to encourage the effective adoption of these standards by companies and investors across emerging markets.
CES is looking for a highly seasoned E&S development professional with sound technical judgement and 20-25 years of relevant experience to lead its Latin America (LAC) and Europe & Central Asia (ECA) E&S risk oversight function within CES. The Principal E&S Risk Officer will work closely with the Social and FI Risk Officers, providing leadership and guidance to operational teams and management on complex E&S risk issues with the aim of promoting compliance with IFC’s social policies and standards. The successful candidate will also contribute with regional expertise to relevant policy work, training and knowledge products on E&S topics and work closely with the Stakeholder Grievance Response team on CAO cases or other project complaints in the LAC/ECA regons. The position will report to the Manager, E&S Risk Management Unit.
Duties and Accountabilities:
New business: Lead LAC/ECA CES’s Risk function on new business by reviewing project concept documents, E&S categorization, scope of proposed E&S diligence, client E&S requirements, contextual risk, etc., working closely with the Social and FI Risk Officers (as relevant) in reviewing each processing stage of investment and advisory transactions. This may include:
Identifying E&S risks and any gaps in the project team’s proposed E&S risk management approaches;
Advising on structuring, appropriate mitigation measures and contractual requirements to promote client action to address E&S risks and impacts in a timely manner;
Participating in select Investment Review Meetings (IRM);
Providing departmental inputs for investment discussions at the Operations Committee
Opining on risk and mitigants as disclosed by the teams in project disclosure documents, board papers, E&S provisions in legal agreements, etc.;
Capturing and codify precedents and benchmarks across transactions (see Policy function); and
Contribute to development of high-quality work products that clearly and logically frame and concisely communicate risks and mitigants.
Portfolio: Lead, in collaboration with the Social and FI Risk Officers, portfolio monitoring efforts in LAC/ECA. This includes reviewing client reporting, investment team E&S monitoring reports, draft portfolio reviews provided by CEG and performing independent analysis of IFC’s portfolio to:
Maintain a WatchList of high risk, non-performing or complaint generating/CAO projects;
Coordinate with CEG staff to build a clear picture of the issues associated with each WatchList client and review proposed corrective action plans;
Perform assurance/audit reviews of IFC diligence and monitoring work quality on selected projects with high risk E&S issues;
Providing departmental inputs for portfolio discussions at the Operations Committee and country strategy discussions
Conduct thematic or sector specific portfolio analysis to identify E&S risks and trends;
Identify E&S issues that are systemic or of a policy nature and propose adjustments as needed;
Lead regional supervision program reviews;
Grievance Response: Support CES’ grievance response function in monitoring projects with CAO or other E&S complaints and work with project teams, particularly the CEG specialist, to proactively engage clients in finding solutions and addressing non-compliances. Serve as an independent Peer Reviewer on CAO compliance investigations and help the team in developing the corporate Management Response.
Policy and Knowledge Management: Support CES’s policy function in reviewing and updating policy documents and developing guidance and procedures based on lessons learned in the new business, risk and grievance response functions. Provide clearance for IFC Knowledge Products produced (including by CEG) related to E&S standards or policies. Contribute to the development, review and delivery of training and/or knowledge products on E&S risk management issues.
Graduate/advanced degree in environment engineering, social sciences, or related discipline;
Knowledge of IFC’s Sustainability Framework and Performance Standards.
Minimum of twenty years of relevant professional experience, including applied private sector experience in E&S risk management, investment and sustainable investment policies;
International experience required with experience in developing countries, specifically in Latin America and Eastern Asia preferred. Willingness and ability to travel to developing countries;
Strong analytical skills, ability to think strategically, analyze and synthesize diverse information sources;
Exemplary project management skills and ability to manage multiple tasks simultaneously under tight deadlines;
Ability to communicate effectively and concisely in spoken and written English is essential. Additional language skills are advantageous;
Excellent interpersonal, listening and communication skills including the ability to relate well with a wide range of internal and external parties and develop solutions in potentially tense or conflicting situations;
Demonstrated ability to adapt to changing circumstances, organize and prioritize deliverables, and maintain attention to detail;
Ability to work effectively as a member of a multi-disciplinary, multi-cultural team, influence and negotiate point of view within teams, superior mentoring skills;
High personal integrity and emotional intelligence, with demonstrated ability to handle sensitive matters in a discreet and respectful manner. Diplomatic approach and calm under pressure;
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