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In addition to the wide range of IFC vacancies listed on the WBG Jobs system, the IFC also has specific selection programs for some of its positions.
But what are these different selection programs for a career at the IFC? In this article, we will present the main selection programs that the organization has.
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Working for the International Finance Corporation (IFC) is a dream for many! Being an IFC’s Young Professional combines a wide range of benefits with meaningful work that can help to promote development around the world. Working for an international organization means developing a global career with a global reach, in a multicultural and pleasant environment; where you will be able to construct influential networks and receive encouragement to develop professionally.
Check out our overview of IFC Job Opportunities:
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IFC’s Selection Programs: IFC Young Professionals Program
For those who have a strong desire to work in international development and hold an MBA, Master’s or doctorate qualification, and professional experience, perhaps the WBG YPP is the ideal program for you.
From 2020, the program has started to select candidates for three of the group’s institutions, the World Bank, IFC and MIGA, to replace the individual YP selection programs for each one.
The WBG YPP is a program designed to select highly qualified young professionals who have technical knowledge, experience and the capacity for leadership, from different cultural backgrounds.
This is considered the WBG’s most rewarding program, with those selected allocated to work in the organization’s operational areas. Applications for the program usually open in two periods. Here is the timeline for the 2020-2021 WBG YPP. Candidates can expect something similar for future programs:
- Between June 1 and 31 – applications are open for the candidates who fill the requirements for all three institutions;
- Between August 17 and September 21 – applications re-open for candidates who fill the application requirements for the IFC and MIGA, and did not apply in June.
The minimum requirements to take part in the program are:
- Being a citizen from any country;
- Maximum age of 32 on September 30 of the selection year;
- Fluency in English.
There are specific requirements to be observed for those who wish to apply for a position at the IFC or MIGA in relation to educational level and work experience. These requirements are:
- Complete a relevant graduate degree (ex: Master’s in Business Administration, Economics, International Relations, Science, and Engineering) before September of the upcoming year;
- Demonstrate 4+ years of relevant experience in finance, political risk insurance and credit enhancement, project/program development, economic development and/or consulting. Certifications such as the CFA are a plus.
The majority of candidates usually exceed the minimum eligibility requirements. Therefore, it is important to observe that additional qualifications are also desirable in order to excel in the selection process, such as:
- Display a commitment and passion for international development;
- Possess outstanding academic credentials;
- Exhibit excellent client engagement and team leadership skills;
- Work experience in emerging markets or developing countries;
- Full proficiency in one of the following official WBG languages: Arabic, Chinese, French, Portuguese, Russian, and Spanish.
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IFC’s Selection Programs: IFC Donor Funded Staffing Program (DFSP)
Another important one of the IFC selection programs is the Donor Funded Staffing Program (DFSP), which selects junior and mid-career professionals of participating donor countries to work in IFC’s headquarters and country offices.
It’s important to stress that the salaries and benefits provided for the selected professionals are 100% funded by participating donors. The DFSP donor are Austria, Belgium, Cote d’Ivoire, Denmark, Finland, France, Germany, Hungary, Iceland, Italy, Japan, Korea, Kuwait, the Netherlands, Norway, Sweden, Switzerland, and the United Kingdom.
This program reformulated two previous stand-alone initiatives, namely – the Junior Professional Officers and Externally Funded Staffing.
To apply for the DFSP, you must meet the following requirements:
If you are interested, be aware that the selection cycles open according to the demand of the donor countries. In other words, this program might not be available every year. “The positions are advertised by the donor countries at a national level (by ministries, government agencies, etc.) and qualified candidates are put forward by donors.” Nevertheless, the final hiring decision is made by the IFC recruiters.
IFC’s Selection Programs: Global Secondment Program (GSP)
The World Bank Groupand the IFC constantly offer specific opportunities for officials of a member country, regional agency, development banks and experienced professionals in international organizations, academia, or private sector.
Participants have a chance to work at a WBG institution for up to 4 years for developing skills, sharing expertise, building network, cultural exchange, and contribute to the organization’s objectives.
It’s worth noting that the partner (a member country or organization) will be fully responsible for providing remuneration/benefits for the participant. The selected professionals should work on Special Assignment Appointments in a full-time basis.
Although the WBG does not fund any participant, it will cover operational travel and overhead expenses. Additionally, the selected candidates are eligible to apply for training courses and join the WBG staff.
Concerning subsequent employment at the WBG, participants may not be offered job positions for at least two years following the expiration of the GPS assignment, except if the partner organization provides a written authorization in this regard.
IFC Consultant
In fact, the IFC does not have a consultancy program but this type of work is so pertinent for the organization that we decided to include a topic here on this subject. Consultancy vacancies are offered due to an organization’s need to fill specific positions in some of its projects or areas.
Consultancy is an excellent way of starting a working relationship with the IFC! It is true that the contract is to work for a defined period but it will enable you to network and maintain long-term contact with the organization. Consultancy contracts may be short-term (maximum of 150 days) or extended, lasting for one year, and may be renewed for a further 12 months.
Firstly, to be a IFC consultant, you must be a specialist in one of its working areas, with some additional knowledge of one of the regions of the world. Among the activities carried out by consultants are: writing reports and technical opinions; assisting with project planning and development; conducting research, and working as a work team advisor.
With regards to the documents required, prepare your Resume or Curriculum Vitae and a Cover Letter, presenting your qualifications and why you are interested in working for the International Finance Corporation.
As a consultant, you will not be part of the IFC’s permanent staff, but will have the right to organizational identification (ID), a salary payment and access to some of the benefits, according to the type of contract signed. Consultants cannot lead teams or projects within the organization.
Working for the International Finance Corporation (IFC) is a dream for many! Being part of the IFC through one of its selection programs combines a wide range of benefits with meaningful work that can help to promote development around the world. Working for an international organization means developing a global career with a global reach, in a multicultural and pleasant environment; where you will be able to construct influential networks and receive encouragement to develop professionally.
In pursuit of its mission, the OpenIGO network has developed support and guidance services, with the aim of highly increasing your chances of success in this competitive selection process. These include an Application Review and a Mock Interview – based on the IFC YPP original model.
If you want to know more about it, access:
Also, check out our overview of IFC Job Opportunities:
