Climate Finance Specialist at International Finance Corporation (IFC)

Climate Finance Specialist at International Finance Corporation (IFC) November 2024

Climate Finance Specialist
Job #: req30212
Organization: IFC
Sector: Climate Change
Grade: GF
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
Location: Dar Es Salaam,Tanzania
Required Language(s): English
Preferred Language(s):

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. Our mission is to leverage the
power of the private sector to end extreme poverty and boost shared
prosperity on a livable planet. For more information, visit www.ifc.org.

The Financial Institutions Group (FIG) is one of the major
industry groups at IFC, responsible for managing roughly 40% of IFC’s
overall business in terms of volume and capital at risk. FIG engages in a
wide range of sub-sectors including Microfinance, SME, Gender, Climate,
Insurance, Capital Markets, Housing, Distressed Assets, and other
areas, with both investment and advisory services delivered to IFC’s
clients through IFC’s global network.

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 and
(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.

Climate Business is one of the strategic priorities of the WBG, and IFC
has developed an ambitious climate action plan to reach a climate
target of 35% by 2025. The focus is to support IFC’s client FIs build
viable and scalable climate finance operations, leveraging their client
base and partnerships with various market players such as energy utility
companies, energy service companies, equipment vendors, international
supply chains and various players who support the promotion of climate
smart investments and emissions reduction.

IFC is seeking a
Climate Specialist to support the implementation of a successful FIG
Climate Business program in East and Southern 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 sub region, and to disseminate lessons learned from
IFC’s program to make a substantive impact on sustainability and
climate change agenda in the sub region through FIs. The Specialist will
be based in Dar Es Salaam, Tanzania and will be required to travel
regionally. The Climate Finance Specialist will report to a Senior
Climate Specialist based in Africa.

The Specialist is expected
to support the FIG regional 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. He/she 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 the
AS and IS transactions through the entire project life cycle from
business development through supervision.

Duties & Responsibilities will include but not be limited to:
•
Work with the regional Climate team on developing new opportunities,
managing internal and external stakeholders, investment processing and
portfolio management.
• Collaborate in developing client strategies/
engagement plans and pitch books for industry and countries,
particularly in Climate and with financial intermediaries;
•
Establish and maintain relationships with mid-level clients and other
stakeholders (government, development partners, WBG) to explore
business opportunities;
• Analyze operational and financial performance as well as credit and integrity risks of potential clients/ projects;
• Perform assessments related to Paris Alignment and Climate Risk in investments;
•
Build complex financial models, perform due diligence and financial
analysis, and/or provide quality control over financial analysis/
projections developed by analyst to evaluate benefits and risks of
transactions;
• Assess and articulate development impact and IFC’s role/ additionality as it relates to climate aspects in transactions;
•
Lead climate risk and opportunity assessments for investment
transactions incorporating lessons learned from IFC’s earlier
investments and portfolio management;
• Coordinate with internal
stakeholders (Legal, E&S, sector specialists and Economists) to
identify ways to strengthen development impact and financial
sustainability of projects;
• Perform credit and risk assessments,
financial projections, covenant compliance reviews; impact reporting,
and monitor changes to risk flags to determine performance of assigned
portfolio with limited supervision;
• Responsible for rating reviews
or loan loss reserve on a quarterly basis for the overall assigned
portfolio. Run models for equity valuations to determine the need to
modify the exit strategy;
• Supervise and ensure quality of portfolio
reporting information prepared by junior staff, providing broader
industry, sub-sector and country perspective into project risks and
issues,
• Engage with mid-level clients of projects to understand
their business directions and challenges that may lead to new
opportunities, and support design of client engagement plans, as
applicable;
• Follow up-with mid and senior level clients to resolve problems on projects.
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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 in finance, economics or other related areas; accreditation as CFA or CPA is considered equivalent;
•
At least 5 years of experience with a proven track-record of sourcing,
structuring and closing investments preferably both in equity and debt,
including Capital Markets, particularly with financial intermediaries;
•
Sound understanding 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 friendly financing;
• Extensive knowledge of clean energy
and environmental markets in Asia and knowledge of international best
practices and global trends in the industry;
• Good understanding of
the perspective of the commercial banks, 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;
• Expertise/familiarity with metrics and tools for tracking climate investments, including GHG accounting;
• Awareness/familiarity with IFC Climate Definitions, ICMA Principles and Climate Risk;
•
Good understanding of IFC’s financial instruments, requirements, main
investment agreements/ standard contracts and provisions, all aspects of
transactions to provide input for optimal structuring of a prospective
opportunity, and internal deal and portfolio processing;
•
Understanding of industry drivers, business/ market development cycles,
and how business performance and long-term competitiveness/ viability
are measured within industry and how industry dynamics may evolve within
a country/ region;
• Proven analytical, financial analysis, equity
valuation, and financial modelling skills to analyze and form
conclusions on company financial information or projects and industry
indicators. Able to oversee and provide quality control feedback on
financial models prepared by analysts;
• Understanding of credit and
non-financial risks associated with straightforward projects and
specific aspects of a complex project, and how to satisfactorily
mitigate those risks based on understanding of how IFC assesses risk/
reward tradeoffs;
• Capacity to identify barriers for market creation
opportunities in a targeted country by tapping into relevant internal
expertise and synthesizing information on local regulatory and economic
context, industry/ sector and landscape, and constraints clients are
facing to grow their business;
• Capacity to build productive and
mutually beneficial relationships/ networks internally and externally to
identify business opportunities, discuss structuring alternatives, and
resolve issues;
• Excellent written, verbal communication and
presentation skills to effectively influence the perception/ support of
clients/ stakeholders;
• Ability to draft documents and reports that
are concise, well-organized, and appropriately focused on most critical
points that are relevant to the target audience;
• Ability to share
valid opinions and new observations relevant to project outcomes with
project lead’s in a manner that is concise, cohesive and focused.
• Excellent oral and written presentation skills in English are required.
Go to our Homepage To Get Relevant Information.
Closing Date: 11/17/2024 (MM/DD/YYYY) at 11:59pm UTC
MODE OF APPLICATION:
This is Full-time Job, To submit your application, please follow the link provided below.