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 2021, IFC committed a record $31.5 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 the COVID-19 pandemic. For more information, visit www.ifc.org.
Who We Are?
Are you interested in development? Would you like to work for the largest global development institution in the world that engages with the private sector in emerging markets to eliminate extreme poverty and boost shared prosperity?
The International Finance Corporation (IFC), the private sector arm of the World Bank Group (WBG), is a global leader, investor and advisor committed to projects in its developing member countries. IFC:
• Works with 2,000 businesses worldwide to create opportunity where it is needed most. • Mobilized over $32 billion total investment last fiscal year, including over $4.3 billion in climate financing.• Commits more than 300 new investment projects per year across all industry sectors – including financial institution, funds, infrastructure, manufacturing, telecommunications, fintech and disruptive technologies – and across all geographies of the world, taking both debt and equity positions and providing advisory services to support development.• Has offices in over 100 countries across emerging markets globally.
What We Do
The Business Risk and Compliance Department (CBR), under the Legal and Compliance Risk Vice-Presidency, is responsible for setting business standards and providing advice and guidance to the IFC Board, Management, and client departments in relation to certain non-financial business risks related to IFC investments, advisory work and corporate functions, including IFC’s treasury function. These non-financial risks include market conduct risk arising from IFC’s engagement with regulated financial market participants and regulated commercial counterparties (noting that IFC is not itself subject to regulatory oversight by reason of immunities under its governing instrument known as its Articles of Agreement). Other non-financial risks include external risks such as corruption, fraud and know-your customer (KYC) issues, anti-money-laundering (AML/CFT), economic sanctions and tax good governance, as well as internal risks, such as the handling of operational conflicts of interest, data access management and data privacy.
CBR’s work in the market conduct space, includes the following: • Developing and advising on policies and procedures governing securities regulatory matters to support investment, advisory and IFC treasury operations. • Providing advice to teams globally across all investment and advisory programs regarding (i) use and handling of material non-public information, and (ii) identifying and managing securities law risk across capital markets transactions, securities mobilization activities, and advisory programs. • Providing support to operations teams and IFC management on matters relating to interactions with member country regulatory authorities.
To support these activities, CBR is recruiting a Regulatory Counsel, to report to the Senior Counsel, Head of the CBR Regulatory Risk Office.
The Regulatory Counsel will be based in Washington, D.C., and will be responsible for the duties and accountabilities set out below.
Duties and Responsibilities:
The Regulator Counsel will assist in the following:
• Advising business teams across operations worldwide on the key principles of securities regulation, including best practices, to ensure responsible market conduct.• Designing and implementing governance frameworks for otherwise regulated activities, such as the development of specifically tailored compliance programs. • Supporting key business teams involved in securities mobilization and securities transactions, including teams in Corporate Finance Services, Treasury & Syndications, Corporate Portfolio Management, and the Asset Management Company. • Updating and operationalizing IFC’s policies, procedures, and standardized processes for staff in connection with the proper use and handling of material non-public information. • Developing and executing training programs for client departments and IFC Management globally, including in collaboration with colleagues across CBR.• Participating in corporate initiatives and working groups to identify possible regulatory considerations and facilitate solutions. • Assisting in the development and maintenance of internal knowledge sharing platforms on regulatory matters.• Liaising with other World Bank Group entities or units, other multilateral development banks and other external stakeholders in relation to regulatory matters, and to assist on such other matters as are needed to support the Head of the CBR Regulatory Risk Office from time to time.
• Qualified to practice law in one or more jurisdictions.• At least 7 – 8 years’ experience with a well-recognized international law firm or financial institution providing legal advice on Capital markets, financial services regulation, funds and asset management, corporate, M&A, corporate governance and compliance, Securities marketing activities.• U.S. securities and financial regulations (such as the Securities Exchange Act of 1934, the Securities Act of 1933, the Investment Advisers Act of 1940, SEC rules and releases, and FINRA rules) and/or EU securities and financial regulations (such as rules promulgated by the UK Financial Conduct Authority, MIFID II, AIFMD and the Market Abuse Regulation (MAR)). • Experience with cross-border/international business transactions with experience in emerging or frontier markets a plus. • Experience working with or for multilateral developments banks or development finance institutions a plus.• Highly developed technical skills with solid judgment.• Exceptional writing skills and the ability to distill complex legal/regulatory analysis into accurate and concise guidance.• Demonstrable experience in developing and giving effective and engaging training presentations to legal and non-legal staff and Management.
And Tackling All of the Above With : • Excellent interpersonal and client service skills.• Strong organizational skills with an ability to work independently under time pressures and respond to ad hoc shifts in priorities while maintaining order and delivery.• Proven ability to build effective client relationships and a genuine commitment to sharing knowledge and expertise.• Diplomacy and ability to work with individuals from diverse cultures and backgrounds.• Highly developed personal integrity, strong values and ethics.• Dedication to IFC’s mission and mandate.• Demonstrated commitment to our core values, including excellence, mutual respect, collegiality, teamwork, diversity and inclusiveness, integrity, innovation, transparency and accountability.
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.