Compliance / Risk Officer
Compliance / Risk Officer
Based: Washington, DC
Background / General description:
The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities in developing economies around the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity.
As part of our commitment to creating a dynamic, creative and diverse working environment, we have launched a recruitment drive aimed to attract nationals of Sub-Saharan and Caribbean countries.
IFC’s Business Risk and Compliance Department (CBR) is a one-stop shop established to provide advice on the mitigation of non-financial risks (except environmental, social and governance) related to IFC investments, advisory work and corporate functions. CBR’s Integrity Risk Office enables business teams and management to successfully assess and mitigate integrity and reputational risks in IFC projects. Integrity risks may include those such as:
- Allegations of corruption or fraud
- UN or World Bank Group sanctions
- Obscured ultimate beneficial ownership
- Politically exposed persons
- Unclear source of funds
- Suspected tax evasion
- Questionable use of third parties
CBR’s Integrity Risk Office establishes business standards for dealing with these and other integrity risks and helps manage them. In addition, the CBR Integrity Risk Office also advises on issues related to anti-money laundering/combating the financing of terrorism (AML/CFT) and serves as IFC’s liaison to the World Bank Group’s Integrity Vice-Presidency (INT) which, among other things, has jurisdiction to investigate allegations of fraud and corruption in IFC projects.
To support these activities, the CBR Integrity Risk Office is recruiting a Risk Officer, with strong experience in researching, advising, mitigating and managing integrity risks.
Duties and Accountabilities:
The Risk Officer will assist in the following substantive areas:
- Advising transaction teams with an independent voice on all core aspects of integrity risks as they impact clients, partners and transactions in IFC’s investment and advisory programs across IFC’s operations;
- Evaluating integrity and reputational risks, making recommendations, providing solutions to IFC investment and advisory services staff, and advising IFC Management and the Board of Directors;
- Employing knowledge and expertise to address IFC’s unique integrity risk and reputational issues associated with implementing its development mandate;
- Developing expertise related to assigned countries/sectors in which IFC invests and/or provides advisory services, and collaborating closely with other transactional risk oversight units at IFC;
- Participating in corporate initiatives and working groups to identify possible integrity risk concerns and solutions;
- Supporting the Department’s liaison work with INT;
- Monitoring global initiatives related to integrity and AML/CFT risks;
- Developing and executing training plans for client departments and IFC Management to educate and raise awareness on integrity risk issues;
- Liaising with other World Bank Group entities, multilateral development banks, and other external stakeholders; and
- Working on special projects or other initiatives in support of CBR’s work plan.
- Liaising with other World Bank Group entities, other multilateral development banks, and other external stakeholders.
- A strong experience in advising on integrity risk, AML/CFT, fraud, corruption, and/or sanctions and debarment matters in private sector investment operations in emerging or frontier markets; or significant operational experience with IFC transactions.
- Experience working within or for an international organization or multilateral development bank is a plus. Financial markets experience, particularly in the area of client/partner integrity, is also a plus.
- Highly developed technical skills on integrity risk matters, and proven ability to advise on and work with complex and evolving fact patterns.
- Ability to provide clear and concise guidance and concrete recommendations.
- Willingness to be stationed at an IFC regional office in Asia or another region.
- Demonstrable experience in developing and giving effective and engaging training presentations and a genuine commitment to sharing knowledge and expertise.
- Proven ability to work effectively with a team and to build effective client relationships.
- Ability to confront new challenges and areas with energy and enthusiasm.
- Responsiveness and ability to deliver high quality work within deadlines.
- Diplomacy, strong negotiation skills and solid judgment.
- Highly developed personal integrity, strong values and ethics with high standards of transparency and fairness.
- Commitment to the World Bank Group and to IFC's mission, strategy and values.
For further details and to apply, please visit our microsite.
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Closing date for applications: June 18 2018.