Senior Industry Specialist - Insurance

Job Posting Organization:
The International Finance Corporation (IFC) is a member of the World Bank Group and is recognized as the largest global development institution focused on the private sector in emerging markets. Established with the mission to leverage the power of the private sector to eradicate extreme poverty and promote shared prosperity on a livable planet, IFC operates in over 100 countries. The organization employs a diverse workforce dedicated to creating markets and opportunities through its capital, expertise, and influence. IFC has embarked on an ambitious strategy to stimulate investment activity, particularly in Low Income Countries (LICs) and Fragile and Conflict-affected States (FCS), aiming to create and expand markets in these regions.

Job Overview:
The Senior Industry Specialist - Insurance will play a pivotal role in developing and implementing IFC's insurance investment strategy, particularly in the burgeoning Insurtech sector. This position is crucial as IFC seeks to enhance its expertise and scale up investments in insurance, which is a key priority for the organization. The specialist will be responsible for business development, conducting technical due diligence on investments, and initiating value creation initiatives at investee companies. The role requires a deep understanding of insurance operations and financial statements, as well as a strong background in equity investments and M&A activities. The specialist will also be expected to cultivate relationships with insurance and Insurtech companies to develop a robust pipeline of viable investments.

Duties and Responsibilities:
The duties and responsibilities of the Senior Industry Specialist include building and maintaining senior management relationships with regional and international insurance and reinsurance companies to ensure a consistent pipeline of transactions. The specialist will monitor trends in the Insurtech space, particularly in emerging markets, and provide thought leadership to support IFC's investment strategy. Oversight and expert technical support for processing and managing IFC's insurance equity investments will be required, including financial modeling and valuations. The specialist will contribute to the development of climate and disaster risk management instruments and participate in expanding FIG's investment product offerings. Additionally, the role involves influencing team activities, overseeing technical due diligence for insurance deals, and providing guidance and training to regional investment officers.

Required Qualifications:
Candidates must possess a Master's degree or equivalent graduate-level education in finance, accounting, business, or economics, or hold a professional actuary designation. A minimum of fifteen years of experience in insurance, investment banking, or private equity is required, with a proven track record in leading and closing investment transactions related to insurance and Insurtech. The ideal candidate will be a strategic thinker with a comprehensive understanding of the insurance sector's dynamics in emerging markets, and possess the ability to advocate for insurance investments effectively. Strong knowledge of regulatory requirements and compliance practices in the insurance sector is essential, along with excellent communication and interpersonal skills to influence stakeholders and drive decisions.

Educational Background:
The educational background required for this position includes a Master's degree or other graduate-level education in relevant fields such as finance, accounting, business, or economics. Alternatively, candidates may have attained a professional actuary designation, which is also acceptable for this role.

Experience:
The position requires at least fifteen years of relevant experience in the insurance sector, investment banking, or private equity, with a solid track record of leading and closing investment transactions specifically related to insurance and Insurtech. Candidates should demonstrate a strong strategic mindset and the ability to navigate complex relationships within the industry.

Languages:
Fluency in English is mandatory for this position, with excellent oral and written communication skills required. Proficiency in additional languages such as Spanish or French is considered a plus and would enhance the candidate's profile.

Additional Notes:
This position is an international recruitment opportunity with a contract duration of three years. The role is expected to involve extensive travel and may require the candidate to be based in one of IFC's hubs in Africa. The World Bank Group offers a comprehensive benefits package, including a retirement plan, medical, life, and disability insurance, as well as paid leave, including parental leave. The organization is committed to diversity and inclusion, ensuring equal opportunity for all candidates regardless of gender, identity, religion, race, ethnicity, sexual orientation, or disability.