Job Vacancies International Finance Corporation (IFC)
Position: Senior Operations Officer – Mobile Financial Services Specialist, To Be Determined
Location: United States of America ( The )
Closing Date: Wednesday, 14 December 2011
IFC, a member of the World Bank Group, promotes sustainable private sector investment in developing countries as a way to reduce poverty and improve people s lives. In addition to its investment work, IFC provides advisory services to a number of its clients to support them in meeting specific development goals. IFC s support to the financial sector is implemented via its Access to Finance (A2F) Business Line and is organized around the following main themes:
* Innovation/Base of Pyramid:
including Microfinance, Mobile Financial Services, Housing Finance, Rural Finance, Responsible Finance.
* Banking Services:
SME Finance, Sustainable Energy Finance, Insurance, Agrifinance, Leasing, Trade Finance, Gender, Risk Management and Corporate Governance.
* Financial Infrastructure:
Credit Reporting, Collateral Registries and Secured Transactions, Securities Markets These services are delivered through regional Advisory Services (AS) facilities, with support from global product specialists, and in partnership with IFC s Investment Services (IS) teams. IFC & Mobile Financial Services: Some 2.7 billion adults almost 70 percent of the population in developing countries have no access to formal financial services. IFC, along with a number of other international development agencies, sees mobile financial services (MFS) as an important way to bring low-income people into the formal financial system in ways that are efficient and cost-effective for the users. The experience of M-PESA, which is now providing payment and remittance services (as well as, more recently, micro-insurance, savings and micro-loans), to over 14 million low-income Kenyans, has shown that this can be a viable business model. Based on some early success stories, the industry is experiencing a period of experimentation, with banks, MNOs and third party providers all testing different pilot solutions, to see what can work and achieve scale, while remaining cost effective. Africa is currently at the forefront of this wave, and IFC is engaging with a range of MFS partners to address key constraints to the rapid deployment of mobile solutions for banking the poor, particularly:
1) business model definition and refinement;
2) agent network management,
3) market research to define needs (and willingness to pay) of low-income consumers;
4) understanding barriers to the uptake of new technologies among the poor; and
5) consumer education.
It should be noted that IFC is not limiting its approach to mobile phone based solutions, but rather is looking at any sort of technology and/or agent enabled models that have potential for improving access to financial services for the poor. IFC has recently received a grant from the MasterCard Foundation (MCF) in Sub-Saharan Africa that includes a $10 million component aimed at implementing MFS projects, evaluating factors that contribute to a successful business model and sharing the learning from the program with the wider development community. It also involves more in-depth work in two more challenging markets. The Senior MFS Specialist will drive implementation of the MFS program for MCF, reporting to the Program Manager for the initiative, and will also lead IFC s other activities in MFS in SSA. Given the global and rapidly evolving nature of the MFS business, the specialist will be expected to spend the bulk of his or her time working on project implementation in Africa, but should plan on contributing a significant amount of time (10-20%) to the global learning agenda and supporting projects in other regions, so that knowledge and learning from Africa can be exported and lessons learned in other regions imported to Africa. IFC is seeking to recruit a highly-motivated Senior MFS Specialist, with extensive hands-on experience in designing and managing projects related to the implementation of MFS deployments in Africa and globally.
Job Vacancies Duties and Accountabilities:
The Senior Specialist will be responsible for leading delivery of the MFS portion of the MasterCard Foundation program, and will also be responsible for developing a strategy for IFC s MFS work outside of that program. He or she will lead a team that is responsible for developing a portfolio of client projects that will extend outreach of financial services to a projected 5 million new registered users across the continent over a five year time period. He or she will also support a substantial knowledge and learning agenda for mobile financial services, in partnership with the global MFS team, and will be expected to contribute to tools and standards that are disseminated globally. The position will be based in Johannesburg, Dakar or Nairobi. Specific tasks include: Strategy:
* Development of a strategy for MFS Advisory in Sub-Saharan Africa, with the stated aims of the MCF proposal at its core, but looking to develop a broader program strategy over the medium to long-term. The strategy should focus on achieving high development impact, defined as bringing the poor and unbanked into the formal financial system, and ensure alignment with IFC s strategic objectives in SSA more generally;
* Contribute to an evolving global strategy for MFS, based on best practice and learning in Africa; Business Development
* Lead the development of a project portfolio in mobile financial services in SSA, identifying and vetting prospective clients in partnership with regional AS implementation staff, the global specialist team and investment teams.
* Develop partnership proposals for prospective clients on the basis of appraisals of their operations and on-going business development discussions.
* Shepherd agreed client projects through IFC s internal approval process, ensuring that lessons learned world-wide are appropriately taken into account in the design of new projects;
* Support the Global MFS team in the abovementioned areas with respect to regional subsidiaries of global partnerships. Project Implementation and Technical Support
* Manage implementation of a $10 million program for MFS supported by MasterCard Foundation, under the supervision of the MCF Program Manager;
* Monitor implementation and progress of AS MFS projects and recommend corrective actions where/if necessary;
* Supervision of consultant work to ensure high quality and on-time delivery of work program.
* Support IFC MFS investment efforts, by interacting closely with the Global Financial Markets (CGF) industry department and the Global Information Technology (CIT) industry department. This will include supporting the vetting of potential investment clients, pipeline identification and participation in joint investment-advisory appraisals, where appropriate. Results Measurement and Learning
* Close collaboration with the Senior Evaluation Specialist, to ensure that evaluation activities are embedded into project design and implementation, yielding insights and data on the impact achieved on projects at a relatively low cost to clients.
* Ensure all AS processes are adhered to for MFS portfolio through overseeing development of necessary approval documents, supervision and completion reports and reviewing for quality control ;
* Support the development of knowledge guides and practice notes seeking to summarize and publish learning under the MCF program;
* Contribute to the design and development of internal and external knowledge sharing events to share product lessons and experience, and learn from others;
* Ensure project materials related to mobile banking are properly documented and archived, with the objective of building core product expertise and a solid knowledge base;
* Support global dissemination of knowledge through participation in regular practice group meetings with peer specialists, conducting appraisal missions in other regions and on-going contribution of client-tested tools to the Mobile Money Toolkit. Resource Management
* Help recruit and technically supervise the SSA team working on IFC s MFS client engagements;
* As required, provide feedback on performance of specific regional staff;
* Recommend allocation and deployment of relevant internal technical specialists to client projects;
* Support the identification and selection of short-term consultants/firms to deliver agreed programs of work with clients.
* Help raise additional donor funding for the MFS program in the region;
* Ensure appropriate utilization of budgeted resources for MFS, and lead reporting on results achieved in MFS to MCF.
Job Vacancies Selection Criteria:
* MBA, Master of Finance, Master of Public Policy or equivalent technology related qualification.
* At least ten years of senior operational experience in financial services and/or technology solutions for financial services in emerging markets, preferably with at least 4-5 years of experience of using technology to expand reach of financial services to low-income populations.
* Experience in designing MFS advisory programs in emerging markets required.
* Recognized leadership in the banking, consulting or development finance communities particularly in the use of technology to reach the unbanked.
* Strong familiarity with international best market practices and global trends in mobile financial services and payments systems. Related expertise in microfinance or SME banking a plus.
* Willingness and ability to travel extensively.
* Experience in due diligence exercises for advisory engagements or investments in emerging market financial institutions , MNOs or third party payment providers. A demonstrated ability to identify problems and propose solutions to clients.
* Fluent written and spoken English a requirement. French language ability a very strong plus. Ability to operate in Portuguese or other regional languages would be an advantage.
* A keen interest in development finance and in working in a multicultural environment; experience in a multilateral finance institution would be an advantage.
* Strong client relationship management skills and ability to establish strong credibility among senior clients.
* Ability to work effectively in teams, communicate ideas clearly and confidently, articulate issues and recommend solutions. To apply please visit www.ifc.org, click on Careers and then on Current opportunities for detailed information on how to apply. Applications should be sent by December 9, 2011 at the latest. Applications without a cover letter will not be considered. Only short-listed candidates will be contacted. This position is subject to a renewable coterminous term appointment contract with an initial duration of two years, subject to a one year period of probation, and paid in US dollars. IFC s Recruitment and Employment Policies reflect its strong values for cultural, racial and gender diversity. Citizens of African countries, as well as women and other minorities, are strongly encouraged to apply.
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