Global Director, Disruptive Technologies & Funds and Creative Industries
|Term Duration:||4 years 0 months|
|Recruitment Type:||International Recruitment|
|Location:||Washington, DC,United States|
|Closing Date:||11/30/2023 (MM/DD/YYYY) at 11:59pm UTC|
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 sees Private Equity (PE) making a valuable contribution to development through providing capital and know-how to fast-growing companies which are leading drivers of job creation in emerging markets in addition to a focus on the creative industries (Audio/Visual, Fashion, Sports and Entertainment and Music). IFC does this through both investments in Venture Capital and Private Equity funds and direct investments in technology companies from early to late stage.PE funds combine capital and expertise to address access to finance constraints faced by small to mid-sized companies (SMEs) in emerging markets (EM) and provide critical support to enable those companies to achieve the operational efficiency and governance standards required to realize their high-growth potential. IFCs current portfolio of funds business is over US$7 billion and comprises more than 340 portfolio funds.
IFC's Disruptive Technology Group invests in venture and growth stage companies that offer innovative technologies or business models geared at emerging markets. By executing transactions at a stage less suited for IFCs more traditional business, we enhance the organization's strong commitment to innovation, supporting local businesses, and accelerating cross-border technology transfers. IFCs current portfolio stands at over $2 billion in around 100 projects. This effort is cross-sectoral and involves introducing both global and regional IFC mainstream experts in both the diligence and post-investment value creation as a partnership.
IFCs focus on Creative Industries is focused on jobs for youth. The Creative Industries is the largest employer globally of men and women between the ages of 15 and 30. This effort is cross-sectoral and involves both global and regional teams thinking about both debt and equity to these business models.
IFC is seeking a Director to oversee IFCs disruptive technology, creative industries and funds business globally. This department will integrate the learnings from both the Funds and direct tech and creative industries business into IFCs more mainstream operations and take advantage of the knowledge across these Centers of Excellence to work across IFCs departments, disseminating lessons learned and best practice to the benefit of IFCs clients globally.
S/he will be based in Washington, D.C. and will report to the Vice President, Global Industries. S/he will lead a staff of over 100 staff based in Washington DC as well as in locations in Latin America, Asia, Europe, Middle East, and Africa.
Duties and Accountabilities:
Business Accountabilities and Key Business Objectives:
For Disruptive Technologies, the Director will:
Support IFCs venture capital managers in managing IFCs corporate venture investment team and investment program, leading IFCs Corporate disruptive technology strategy, and developing relevant corporate initiatives to enhance IFCs strategic positioning in the technology space, including leading the efforts in the World Bank Group digital vertical agenda.
Chair investment committee meetings on new technology investments including venture capital funds that could form the basis for larger direct investments.
Take accountability for gathering, managing and disseminating global best practice and institutional knowledge of the Industry across IFC, designing and developing internal and external thematic events and knowledge sharing networks.
Monitor global portfolio and P&L for the Industry.
Be active in business development across targeted sectors including fintech, climate tech, agri-tech, ed-tech, infra-tech and health-tech.
Lead analytical production/publications on disruptive technology and development.
Represent IFC at major public events.
For Funds, the Director will:
Develop a clear strategy for Funds at IFC, aligned with country and sector strategies.
Chair Fund specific decision meetings and take accountability for new business and portfolio decisions.
Support the Funds Managers in building a balanced global pipeline through coordination with other industries and regions.
Provide input and expertise on new investments, and act as sounding board on deal structuring and risk mitigation of new business proposals in Industry.
Take accountability for gathering, managing and disseminating global best practice and institutional knowledge of Industry across IFC; design and develop internal and external thematic events and knowledge sharing networks.
Monitor global portfolio and P&L for the Industry.
Act as a thought leader on Funds investments, particularly around Emerging Markets.
Coordinate with the Global Private Capital Association the GPCA conference and serve on the board of the GPCA representing IFC interests.
For Creative Industries, the Director will:
Chair the Creative Industries working group which consists of global and regional members of IFC across Financial Institutions Group (FIG), Manufacturing, Agribusiness and Services (MAS), Telecom, Media & Technology(TMT), Disruptive Technologies and Funds(CDF) and Creating Markets Advisory with a goal of developing a pipeline of $2 billion of investable projects annually (through both debt and equity).
Be a public force to increase the business development pipeline for the creative industries.
Be a disruptive cultural change on how to enter this business through both a risk and developmental impact lens.
Recruit, contract, lead and manage a team of industry and technical specialists (including consultants and vendors) to provide global Industry expertise.
Work closely with the Managers of Venture, Private Equity, Upstream/Advisory and Creative Industries who will report into this Director.
Mentor and develop industry staff in HQ and staff in regions mapped to relevant global practice groups.
Manage budgets for industry staff, consultants, and vendors in headquarters.
Allocate and deploy industry and technical specialists effectively and efficiently to client relationship teams.
Reporting relationships: global industry staff. Prepare performance reviews for direct reports and provide feedback for industry staff.
Maintain strong relationships with Regional Vice Presidents, Regional Directors, Industry Directors and Managers, Global Industry Directors, and Global Heads of Equity.
Develop and maintain relationships with global industry players and manage client relationships for global industry clients, in coordination with Regional Industry colleagues.
Ensure that client needs are met promptly and proactively.
Foster relationships with industry counterparts in WBG, other private and public financial institutions.
Collaborate with Credit to identify and manage global industry risks.
Work collaboratively within the matrix to deliver impact for clients and IFC.
A minimum of Master's degree or equivalent professional qualification in finance or business:
At least 15 years of private equity, venture or similar investing experience required.
Experience in supervising portfolio and a proven track record in handling complex transactions.
Ability to represent IFC externally and to develop and manage relationships with clients, government, media, donors, and other stakeholders.
Proven analytical capacity, including relevant publications, especially on the subject of new technology and development.
Strong sense of service to clients and demonstrated business development aptitude. Proven success in developing client relationships and executing quality investments.
Ability to work in the matrix as an integral part of the Regional and Industry department and deliver high quality work within deadlines to meet team objectives.
Ability to collaborate closely with World Bank and other MFIs and financing institutions and banks.
Good 'deal sense' based on demonstrated strong analytical skills and sound business judgment.
Ability to develop innovative solutions and challenges the status quo to build the business.
Excellent people management skills and openness to feedback; new ideas and ability to guide staff to solutions to problems.
Strong written and verbal communications skills, excellent public speaker.
Recognized as a team player and leader, ability to manage and resolve conflict.
Highest standards of ethical integrity, transparency and fairness.
Meet Bank Group-wide managerial selection criteria including courage of your convictions, leading the team for impact, influencing across boundaries, fostering openness to new ideas, 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.
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