Un Jobs

Home
Un Jobs
Organizations
IFC Jobs: Overview

IFC Jobs: Overview

Find out everything about Jobs and Careers with the IFC!

Working for an institution such as the International Finance Corporation (IFC) is a dream for many. The IFC combines good remuneration and a wide range of benefits with a rewarding career that can make a real difference in the lives of millions of people and improve their quality of life. In addition, working for the IFC means having a global career with a global reach, in a multicultural and pleasant environment; you will be able to construct influential networks and receive encouragement to develop professionally.

Because of the above-mentioned reasons, in addition to a competitive remuneration package, career mobility, and the support that successful candidates receive once they are assigned to a position at the institution, IFC Jobs selection processes are highly sought-after by many young professionals, making them highly competitive.

Are you looking for an internship opportunity in a renowned institution? Check out the IFC Global Internship Program right now, applications are open until March 7, 2022:

THE IFC GLOBAL INTERNSHIP PROGRAM IS OPEN – CLICK HERE!

In pursuit of its mission, the OpenIGO network has prepared support and guidance services tailored for the IFC, with the aim of highly increasing your chances of success in these competitive selection processes. These services include revising your application documents (curriculum vitae/resume and cover letter) and a mock interview, as per the IFC model.

This is just a sample of our IFC Careers ebook, a fully comprehensive guide to IFC Internships and Job Opportunities. Get a sample now:

WOULD YOU LIKE TO KNOW MORE ABOUT OUR IFC PRODUCTS & SERVICES?

IFC Job Opportunities – Products & Services

IFC Overview

The International Finance Corporation (IFC) is the biggest global development institution that focuses mainly on the private sector. The IFC helps developing countries in the path to sustainable growth by financing investment, mobilizing capital in international financial markets, as well as providing advisory services to companies and governments. Headquartered in Washington, D.C. (USA), the institution was established in 1956 and is a member of the World Bank Group.

IFC’s main focus: Providing support for sustainable private sector development and growth in developing countries.

Themes addressed by the IFC:

Private Sector
Sustainability
Sustainable Agriculture
Poverty Reduction
Capital Mobilization
Investment
Capital Flows
Gender
Tourism, Retail, and Property
Infrastructure
Health
Education

IFC Jobs - Selection Processes

In order to start a career with the IFC, applicants must know what are the existing recruiting initiatives, their eligibility criteria, and different stages of the selection processes, as well as have a broad understanding of the culture and values of this complex international institution.

The IFC has a varied array of job opportunities that reflect different levels of responsibilities, expertise and duties required in the organization’s activities.

There are 4 main categories in the IFC’s job opportunities roster:

a) Global Secondment Program (GSP)

The Global Secondment Program (GSP) is a program aimed at country officials and professionals with great experience in international organizations, academia, or the private sector. Such professionals will be appointed on a Special Assignment to the World Bank Group (WBG). The program is limited for a specific period (not possible to exceed four years).

b) Donor Funded Staffing Program (DFSP)

The World Bank Group’s Donor Funded Staffing Program (DFSP) is a program presented to professionals of participating donor countries with a Master’s degree and between 2-5 years of relevant work experience. Salaries and benefits are totally subsided by DFSP donors.

c) WBG YPP (Young Professionals Program) – IFC Placement

Since June 2020, the IFC and World Bank have merged their respective Young Professionals Programs into one: the WBG YPP. Getting an IFC placement through the WBG YPP is a unique opportunity for young professionals who have a passion to work in the private sector as well as help emerging markets and developing economies. Having a vision towards managerial roles is also a great aspect of the program since it emphasizes leader qualities.

d) IFC Global Internship Program (GIP)

The goal of the IFC Global Internship Program (GIP) is to offer candidates with an opportunity to know the mission and work of the IFC and the World Bank Group as a whole, and be part of the largest private sector development institution in the world. The IFC Internship Program encourages individuals to bring in new points of view and innovative ideas to the IFC while cultivating skills in a diverse and highly encouraging environment. Besides, it is an opportunity to build an international network of professionals keen to ending extreme poverty and increasing prosperity in the developing world.

IFC Jobs - General Requirements

Before applying for a vacancy at an organization, it is important to understand which staff profile it employs and looks for in its selection processes. This will help you to: understand if your professional profile fits with what the organization is looking for; to get ready, in order to have greater chances of success in future selection processes, and to prepare better curriculum and application documents required for your application.

Therefore, it is of fundamental importance that your application is carefully revised so as to avoid common mistakes and to increase your chances of moving on to the second stage of the selection process. This is exactly what our award-winning team will do for you!

At OpenIGO, we have analyzed documents from dozens of IFC candidates and know precisely what is required for your application to stand out from the thousands of others received by the IFC team every year. It is important to highlight that this service is confidential and your files will be deleted from our systems when the service has been completed.

Click on the link below to find out more about our Application Review service:

Application Review

An overview of the IFC staff profile will be presented in this section, so that you will be able to gain a better understanding of what this organization looks for in its human resources.

What are the fields of study required for jobs with the IFC?

Economics
Finance
Human Development (Public Health, Education, Nutrition, Population)
Social Science (Anthropology, Sociology)
Agriculture
Environment
Private Sector Development

Language requirement:

Fluency in English is always required, but proficiency in Spanish, French or other World Bank language may also be required depending on the vacancy. Even if not required, fluency in a World Bank language is an asset.

Competencies required:

Technical expertise;
Diverse nationalities and experiences;
Strong teamwork and interpersonal skills;
Leadership capabilities;
Geographical mobility;
A passion for improving people’s lives through promoting private sector development in emerging markets.

Education and work experience requirements:

Donor Funded Staffing Program (DFSP)

For Junior Professional Officers (JPOs) under the DFSP, a Master’s degree and a minimum of two years of relevant experience are required.

For Mid-career Professionals (formerly EFSP) under the DFSP, a Master’s degree and a minimum of five years of relevant experience are required.

WBG YPP (Young Professionals Program) – IFC Placement

To complete a relevant graduate degree before September 2022 is a requirement for a IFC placement at the WBG YPP. The field of study should be related to an IFC area, including but not limited to a Master’s of Business Administration, Economics, Finance, International Relations, Science and Engineering.

As for work experience, candidates should 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 considered an asset in the selection process.

Global Secondment Program (GSP)

The candidates must be full-time employees of the releasing organization at the time of appointment and continue to receive their salary and benefits from that company or organization. Because of the nature of Special Assignment under the GSP, participants may not hold managerial or policy-making roles.

IFC Global Internship Program (GIP)

Candidates must be in the first or second-to-last year of a Masters’ level program. It is recommended to check the vacancy’s “Preferred field of study/experience” in the List of Openings provided at IFC’s Global Internship Program website.

IFC Jobs - Interview

After shortlisting candidates from the application’s pool, the IFC will invite selected applicants for the assessment phase, which will be comprised of an interview, a reference check and other processes depending on the position level, area of work, and office context.

The last stage of the IFC track selection process is a final interview with the IFC recruiting panel. The candidates invited for this phase will receive an e-mail asking them to provide 3 preferences for the interview day from a group of available time slots. After that, the interview team will send a confirmation with the final interview date and time.

The interview could be by telephone, webex or face to face. First interview is likely to be a panel interview. Generally, candidates will have three interviews. Depending on the role, there may be more than three.

To help you feel more secure and greatly improve your performance during the IFC Interview Process, OpenIGO Network has developed a mock interview, as per the WBG original model, with a specialized professional who has extensive experience.

Click on the link below to find out more about our Mock Interview service:

Mock Interview

IFC Jobs - Salary and Benefits

The IFC offers competitive salaries and benefits to match compelling career choices. The World Bank Group offers internationally competitive salaries based on the candidates’ educational and professional experience.

Health, Life, Accident, and Other Insurance Programs

Headquarters-recruited staff and their eligible family members are able to choose from three comprehensive medical/dental benefit plans. Staff members recruited to a Country Office are also eligible for a comprehensive medical/dental benefits plan for themselves and eligible family members.

The WBG provides basic life and accident insurance to all its staff members. Headquarters-recruited staff can select additional life and accident insurance coverage at their own expense. Disability and worker’s compensation coverage is provided to all staff members.

Pension Plan

The WBG offers a comprehensive pension plan for all its staff members.

Relocation, Resettlement, and Expatriate Benefits

For staff appointed to positions related to international recruitment, the WBG pays relocation benefits upon appointment and resettlement benefits upon the end of employment.

Paid Leave

New staff members receive 26 days of annual leave and 15 days of sick leave per year, accrued on a daily basis.

Work/Life Balance

The WBG offers its staff members flexible work arrangements in order to to provide them with a better work/life balance. Some of the programs that are offered to staff include telecommuting, alternate and reduced work schedules, flextime, job sharing and home-based work.

Health Services Department

An on-site Health Services Department includes consultation and treatment for minor ailments or injuries during the workday, clinical services related to work assignments, and preventive care services.

Fitness Center

The WBG’s fitness center is fully supplied with state-of-the-art exercise equipment, locker rooms, showers, saunas, and exercise studios.

Child Care

The WBG offers the World Bank Group Children’s Center as an option to address children’s needs.

Lactation Room

Rooms for nursing mothers are present in some of the WBG offices.

IFC Jobs - Work Regulations

As in any organization, the IFC has regulations that discipline its staff. Below is a list of the most important regulations the organization has.

Want to know in even more detail all these regulations and much more crucial information about IFC careers?

Then check out our eBook “International Finance Corporation (IFC) Careers” right now!

Probation period

A new IFC Staff Member will have a probation period in which their activities are followed up more closely, for their work to be evaluated, and then have their employment confirmed. This is a one-year period. It will only be extended with the Manager or Designated Supervisor`s approval. However, the probation period may not be longer than two years. During the probation period, the Staff Member may take part in follow-up meetings, will establish their work program, receive feedback on their progress, and an evaluation of their competence development.

Working hours

The working hours at the IFC headquarters in Washington D.C (USA), are from 9:00 am until 5:30 pm, from Monday to Friday, including a lunch hour. At the IFC’s other offices around the world, the working hours may vary according to local customs and laws. However, the weekly workload will not exceed 40 hours.

We highlight that there is a possibility of negotiating alternative working hours, mainly in locations in which activities are performed in shifts or when working from home. For those who are on a mission, the working hours are established by the group manager.

Work may be requested on the weekends and public holidays. Overtime may also be a part of the routine, mainly in weeks with a high workload. However, the organization has an overtime remuneration policy.

Public holidays

Every IFC Staff Member has the right to vacations but days off are defined during the year, on account of official public holidays. The Human Resources Vice-President stipulates the public holidays on the organization’s calendar, taking the official public holidays in Washington D.C. into consideration. For offices outside the region, public holidays must be stipulated according to local tradition, and may not exceed a maximum of 11 days per year.

Contract completion

The end of an IFC contract may occur in two ways: from the organization, or a request from the Staff Member.

A contract may be ended by the organization, based on: non-approval of the Staff Member during the probation period, health reasons which have interfered with the Staff Member conducting their activities, downscaling of positions if they are no longer required, unsatisfactory service, misconduct actions, and abandonment of tasks, among others.

From the Staff Members, a letter of resignation with a minimum notice period of 30 days must be presented, advising of the decision. For those who have consultant, special assignment and short-term temporary contracts, 14 days’ notice should be given. Once the Staff Member’s desire to end a contract is accepted, it cannot be revoked.

There are also cases of voluntary retirements, or when the Staff Member reaches the maximum age established by the organization, which is 67 years old (the Staff Member may make a request to continue working, but if this is accepted, it can only be extended until the month of their 70^th birthday). In these cases, the contract is ended, and a mutual agreement established.

Links

IFC Jobs webpage:

https://www.ifc.org/wps/wcm/connect/Careers_Ext_Content/IFC_External_Corporate_Site/IFC+Careers

Contact for inquiries:

https://www.ifc.org/wps/wcm/connect/corp_ext_content/ifc_external_corporate_site/about+ifc_new/contacts

Share on Facebook

Share on Twitter

Share on WhatsApp