Closing date: October 31, 2023 | Investment Officer Job Vacancy In Saudi Arabia | World Bank
- Officer of Investment
- Job number: 24654
- Institution: IFC
- Business: Investment
- Level: GF
- Verb Time: 3 years and 0 months
- Type of Recruitment: Local Hiring
- Location: Saudi Arabia’s Riyadh
- Language(s) required: English
- Language(s) of Preference: Arabic
- Closing date: October 31, 2023, at 11:59 p.m. UTC (MM/DD/YYYY).
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An explanation
- The largest international development organization with an emphasis on the private sector in emerging nations is IFC, a part of the World Bank Group. We work in more than 100 nations, use our resources, knowledge, and clout to open up markets and opportunities in developing nations. IFC pledged a record US$43.7 billion to private businesses and financial institutions in developing nations for the fiscal year 2023, utilizing the private sector’s ability to promote shared prosperity and alleviate severe poverty as economies deal with the effects of the world’s growing crises.
- In order to encourage increased investment activity, particularly in Low Income Countries (LICs) and Fragile and Conflict Affected Situations (FCS), IFC has launched an ambitious new growth strategy called IFC 3.0. According to this plan, we should aggressively work “Upstream” to develop, deepen, and grow markets as well as to conceptualize, plan, and carry out investment initiatives in order to generate our own prospects. The World Bank Group must engage in policy reforms and sector- and country-level programmatic interventions to address the regulatory and sectoral bottlenecks that impede the flow of private capital into profitable investments in our member countries. This requires adopting a methodical approach to understanding these bottlenecks. In order to create our own proactive sector interventions and to envision and design initiatives even in the absence of reforms, it also requires the ability to leverage WBG programs and projects.
- One of IFC’s industry divisions, the Financial Institutions Group (FIG), promotes local and regional equity and debt markets, partners with financial institutions, and offers innovative financing mechanisms in addition to supporting projects in a variety of financial subsectors. FIG provides investment and advisory services in a broad range of subsectors, such as Microfinance, SME, Gender, Climate, Insurance, Capital Markets, Housing, Distressed Assets, and other areas. The objective is to create effective financial systems that will boost financial inclusion, spur economic expansion in client nations, and strengthen the influence of IFC on development.
- The primary hubs and sites of the FIG’s Middle East, Afghanistan, Pakistan, Central Asia, and Turkey (FIG MCT) team are situated throughout the area, including Istanbul, Dubai, Karachi, Amman, and Almaty. The members of the team work on portfolio management throughout the region in addition to new business development and processing.
- FIG is looking for an Investment Officer with a greater understanding of digital financial services and experience in the banking and financial industry. The chosen applicant will work closely with the Regional Advisory/Upstream Manager to oversee the establishment of a top-notch pipeline in the Middle East, Central Asia, and Turkey (MCT) region. Additionally, s/he will be expected to provide direct support to the investment team, which is in charge of creating, overseeing, and managing IFC’s financial sector investments, particularly those that help the organization expand regionally throughout MCT.
Function & Accountabilities:
The position’s duties and responsibilities will comprise, but not be restricted to:
Support the process of identifying and evaluating FIG advisory and investment opportunities in the digital space, taking into account market creation potential, country and sector strategies, and offering advisory support to IFC clients regarding digital transformation initiatives (partnerships, products, channels, etc.) that result in IFC investment.
- Assist customers in creating digital transformation plans by putting a solid and long-lasting business plan into practice.
- Analyze client capability gaps and make recommendations for areas to invest in and receive advisory help for during the digital transformation
- Help customers create project budgets, business plans, and implementation schedules for initiatives including digital transformation
- Overseeing the development of cutting-edge, digital financial services products for the mass and MSME markets, as well as the implementation of credit scoring algorithms for online lending.
- Participate in the creation of DFS initiatives and programs, such as market research and client diagnostics, and successfully plan and carry out sector- and client-level engagements that result in upcoming investments or provide assistance to current FIG clients.
- Take part in various financial and business case evaluations as well as DFS sector assessments related to the digital economy.
- Assist in identifying disruptive trends, technologies, and business models that can help emerging markets find solutions, with a focus on extending the use of technology to support inclusion and climate financing solutions.
- Generate periodic reports on the allocated portfolio, tracking advancement in relation to project benchmarks and key performance indicators.
- Participate in the study of data unique to a given industry and the stress testing of different operating models to help spark concepts for new initiatives, goods, and platform companies.
Collaborate with the World Bank to examine industry and regulatory changes that are required to provide room for private investment.
- Work together with stakeholders and establish partnerships with employees of the World Bank Group and IFC, sponsors, clients, and other outside parties in charge of digital activities to facilitate project delivery. You can also take part in the creation and execution of DFS strategy, reform roadmaps, and assistance with work on country-specific policies.
Selection Standards
- A master’s degree in business, finance, economics, or a related discipline, or an equivalent certification.
- At least eight years of relevant experience in developing programs and/or projects, creating feasibility studies, and performing practical advisory and/or consulting work in the emerging markets sector of digital finance.
- A deep comprehension of banking, financial institutions, and the digital finance sector, as well as the capacity to recognize possibilities and hazards.
- Proven track record in creating and implementing digital transformation programs and/or digital bank experiences, forming alliances with fintech companies and/or NBFIs, and managing technical teams
- Extensive background in banking, fintech, and finance, with a focus on supporting origination, structuring, processing, negotiating, and closing investments. • Robust operational understanding of commercial banks and other financial entities in emerging economies.
- Excellent analytical and critical thinking abilities, including the ability to innovate and question the current quo as well as experience in coming up with fresh concepts, growing businesses, and starting initiatives or programs from scratch.
- Knowledge of the fintech and digital financial services industries, as well as the capacity to connect investment, mobilization, policy changes, and advising interventions to provide solutions at the national level using the cascade approach.
- Capacity to interact with national and local governments, the private sector, and other stakeholders to promote innovative market and business development.
- Knowledge of overseeing and documenting a portfolio of initiatives, programs, and projects.
- Sincere dedication to the goals, strategies, and values of the World Bank Group and IFC, as well as to development.
- Knowledge of the evolving business model and IFC’s strategic initiatives in light of IFC 3.0.
- Excellent English communication abilities, both written and spoken.
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