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 2022, IFC committed a record $32.8 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 works at the cutting-edge of international development finance. It invests in private sector companies and projects in a variety of sectors in emerging markets all over the world – from fintech startups to infrastructure projects, disruptive technology platforms to private equity funds.
Some of IFC’s recent investments in the Middle East, Central Asia & Turkey (MCT) and Europe regions include:
• An up to US$5m equity investment in the Highland Private Equity and Mezzanine Fund L.P., one of the first institutional investment funds in the Kyrgyz Republic, to provide risk capital to 10-15 local Small and Medium Enterprises (SME) in the Kyrgyz Republic.
• A US$75m investment in green bonds issued by Fransabank SAL, the fourth-largest Lebanese bank, to provide financing to a spectrum of eco-friendly projects in green buildings, commercial energy efficiency and renewable energy.
• An EU$30m COVID-19 Facility loan to improve Sofia, Bulgaria Airport’s operations and services to passengers and finance significant upgrades to its infrastructure.
In FY21, IFC had a record-breaking year, despite the global COVID pandemic, with total commitments of $31.5 billion, including $23.3 billion in long term financing and $8.2 billion in short term financing.
What We Do
IFC’s Business Risk and Compliance Department (CBR) supports IFC’s business teams by helping to mitigate certain risks that may occur in IFC financings and advisory projects. One of these is “integrity risk” – corruption, fraud, economic sanctions, litigation, criminal activity/history, politically exposed persons, opaque ownership structures – any of which can affect the integrity of an IFC project, or adversely impact IFC’s reputation as the preeminent international organization operating in the private sector. IFC business teams conduct integrity due diligence (IDD) to identify integrity risks and CBR supports that effort by providing legal and practical advice on managing and mitigating those risks and lessening their impact when they arise.
Integrity risks are increasing in legal complexity and require more crisis management expertise, as IFC is exposed to increased risk arising from a strategic shift to riskier markets. Additionally, IFC’s business strategy requires staff to be in the region, closer to clients, and better positioned to support IFC operations.
What You’ll Be
• An Integrity Counsel focusing on the MCT and Europe regions
• A strategic partner to business teams (investment and advisory)
• A visible, vocal and influential champion for the proper management of integrity issues
• Reporting to the Principal Counsel – Head, Integrity Risk, who leads the Integrity unit in CBR
What You’ll Do
• You’ll advise business teams with an independent voice on all core aspects of integrity risks as they impact IFC’s clients, partners, transactions and new products/initiatives in the above region, to include:
• Evaluating integrity and reputational risks, making recommendations, and providing solutions to mitigate risk
• Employing knowledge, expertise, and sound judgment to address IFC’s unique integrity risk profile
• Developing expertise in regional IDD issues across all sectors in which IFC works
You’ll provide legal advice to business teams and management on integrity-related matters in transactions, new products/initiatives, and IFC operations generally, including on the following subjects:
• International and national anti-corruption/bribery laws and regulations (e.g., FCPA, UK Bribery Act, etc.)
• International standards and guidance relating to AML/CFT (e.g., issued by Financial Action Task Force (FATF), the Wolfsberg Group) as well as national AML/CFT laws and regulations
• Other integrity-related laws/regulations and legal issues that arise in IFC business, including laws and regulations intersecting with anti-money laundering and terrorist financing risk (AML/CFT)
• Economic sanctions (such as the UN, EU, UK, and US regimes) and other international trade sanctions and export controls
• Crisis management and legal advice related to significant integrity legal matters, including potential or actual litigation or involving complex legal issues
• The legal workings of the WBG Integrity Vice-Presidency (INT) and WBG Sanctions System
You’ll also provide legal advice to business teams and management on integrity-related contractual provisions, to include:
• Reviewing current integrity-related provisions in IFC legal agreements
• Drafting new integrity-related provisions in IFC legal agreements and bespoke legal provisions in IFC financing documents
• Negotiating with clients to build out contractual protections on integrity-related matters
• Advising on integrity-related provisions for legal documentation relating to new products/initiatives
• Drafting disclosures for Board papers
• Juris Doctorate (JD), Bachelor of Laws (LLB) or equivalent
• At least 8 years of working experience including a minimum of 5 years providing legal advice on international business transactions, project finance, investment funds, or litigation including experience advising on business integrity-related matters (such as anti-corruption laws, AML/CFT, economic sanctions, etc.
• Law firm experience a plus
• Fluency in English plus one other major language relevant to the region
• Hands-on litigation and crisis management experience is a plus
• Working familiarity with laws and regulations, industry and international standards at the intersection of integrity and AML/CFT, is a plus
• Knowledge and understanding of international tax law principles, relating to tax evasion, tax transparency, use of intermediate jurisdictions in project structuring, and related party transactions, is a plus
• Familiarity and fluency with data analytics and reporting
• Experience with data analytics, data technology and data risk management
• Experience presenting engaging workshops and trainings to staff and management at all levels
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.