Sector Economist – Private Equity and Venture Capital Funds
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Sector Economist – Private Equity and Venture Capital Funds
Based: Washington, DC
Background & General Description
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging our capital, expertise and influence to help the private sector end extreme 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.
The Sector Economics and Development Impact Department (CSEDR), part of the Economics & Private Sector Development Vice Presidency in IFC, analyses sectoral economic trends, and works closely with IFC Operations in formulating sector priorities and strategies, conducting policy dialogue, structuring, appraising, and monitoring investment projects and reporting on IFC’s impact.
The CTT team within the CSEDR undertakes the activities above in relation to the CTT sectors, which comprise Telecom, Media, Technology, Venture Capital (VC) Investment and Private Equity (PE) Funds; it also provides these activities in relation to IFC’s Asset Management Company (AMC) – largely funds and funds of funds.
The Department is looking for a Sector Economist- Private Equity and Venture Capital Funds, to help it assess, on an ongoing basis, the development impact of IFC projects in Private Equity and Venture Capital Funds sectors, perform deeper economic analysis for decision-making purposes and incorporate the relevant analysis into IFC’s and CTT strategies and private sector development (PSD) objectives. He/she will work in close collaboration with the Investment and Advisory Staff of the CTT group, responsible for designing and structuring IFC’s projects in this area.
Role & Responsibilities
Reporting to CSEDR Head of CTT, the Economist’s role and responsibilities will be as follows:
- Private Equity and Venture Capital Funds project impact assessment
The Economist will primarily be responsible to provide support on articulating and measuring the economic impact of the Private Equity Funds sector, and of projects in these sectors undertaken by the IFC. The sector includes Private Equity growth funds, Venture Capital funds, Funds of funds, as well as other sector-specific funds.
The work will involve contributing to the operation of a newly developed framework (the Anticipated Impact Measurement and Monitoring framework – AIMM) to assess such impacts. The Economist will work to identify and assess direct project outcomes (e.g. on investees and other stakeholders) as well as wider market impacts (e.g. on competitiveness, integration, resilience, inclusiveness and sustainability).
The Economist will lead day-to-day project management, quality oversight, and analysis for research. This includes establishing a strong working relationship with IFC’s CTT Industry team and with other CSEDR CTT team members.
The work will include working with IFC’s Investment Officers to collect and analyze project data, apply the appropriate frameworks on the basis of data and research, create narratives that support the articulation of project impacts, and rate projects. It will also include the provision of expert advice and support to operational teams and managers on trends, key risks, and sector analysis during the project life cycle, in coordination with the respective industry strategists.
- Sector Economics Analytical Work
This support will include the following activities:
- Monitoring and analyzing trends and developments in the PE/VC space on the global and country level and producing reports with a focus on challenges, priorities, and opportunities for market creation and private sector development in the sector
- Proposing, designing and undertaking economic and econometric research on a variety of economic topics relevant for the Funds sector in collaboration with relevant investment and advisory teams, to inform sector strategies and operational decisions
- Supporting sector policy dialogue aimed at creating markets for private sector driven development, for example by liaising with policymakers, sector and industry organization and with academic experts
- Preparing high quality briefs, reports, and presentations to various stakeholders as well as external stakeholders
- Contributing to various Strategy and Business Plan documents (e.g., Strategy and Deep Dive Presentations, Country Private Sector Diagnostics, IFC Road Map, IFC Annual Report)
Selection Criteria & Competencies:
- Minimum of a Master’s degree in Economics
- Significant prior experience as economist in the financial sector with a focus on PE/VC funds; obtained working for the private sector (preferably, for example for Fund Managers, other financial institutions supporting private equity investment, or financial research bodies); additional experience in a Development Finance Institution is a plus.
- Previous significant experience to the Private Equity Funds and Venture Capital Funds business, preferably in emerging markets. Robust and tested knowledge of key market, competition, policy and regulatory trends in the global funds markets, and for emerging markets; and of sector-related financial and economic concepts and data.
- The candidate is requested to explicitly identify in their resume their work in the PE/VC fund space, including number of years, roles and output, as a requisite to be considered for this position.
- Strong project management skills, including ability to create project plans, manage projects, team members, and deliver high quality outputs (presentations, papers and other material)
- Strong analytical and quantitative (including econometric) skills
- Proven capability to handle complex assignments and produce work to a high professional standard
- Excellent written and verbal communications in English and ability to communicate effectively with relevant stakeholders
- Ability to lead, innovate, develop research plans and studies, and to deliver results for clients by proactively addressing clients’ stated and unstated needs
- Ability to collaborate within teams and across boundaries, giving own perspective and willingly receives diverse perspectives
For further details and to apply, please visit the microsite.
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Closing date for applications: June 26 2018.