Insurance Officer - Investment and Credit Risk

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 to promote sustainable economic growth, the IFC operates in over 100 countries, leveraging its capital, expertise, and influence to create markets and opportunities in developing nations. The organization is dedicated to ending poverty and increasing shared prosperity through innovative solutions and partnerships with both public and private sectors. In fiscal year 2025, the IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, showcasing its commitment to mobilizing private capital for development. The IFC's Insurance Services Group (CIRTI) plays a crucial role in supporting investment departments by assessing risk and insurance issues, ensuring compliance with agreements, and providing guidance to clients. With a workforce of over 120 offices worldwide and 189 member countries, the IFC is at the forefront of addressing global challenges through impactful investments and knowledge sharing.

Job Overview:
The Insurance Officer position within the IFC's Insurance Services Group (CIRTI) is designed for professionals with expertise in various industry sectors, including Infrastructure, Natural Resources, Financial Institutions, Manufacturing, Agribusiness, and Services. The successful candidate will be responsible for establishing, evaluating, and monitoring the insurance coverage of IFC's investments. This role requires a thorough assessment of project risks and the identification of appropriate insurance solutions prior to investment decisions. The Insurance Officer will provide guidance to both internal and external clients regarding risk assessment and the value-added services of insurance management. The position also involves drafting sustainable risk transfer proposals and negotiating insurance coverage with sponsors. Additionally, the officer will assist clients in achieving positive and sustainable development while fostering the growth of local insurance markets in emerging countries. Leadership and guidance on non-recourse project financing and support in handling insurance claims are also key responsibilities of this role. The Insurance Officer will be expected to deliver high-quality results under tight deadlines while working collaboratively across the organization.

Duties and Responsibilities:
The duties and responsibilities of the Insurance Officer include:

• Establishing, evaluating, and monitoring the insurance coverage of IFC's investments, ensuring that project risks are carefully identified and assessed.
• Providing guidance to internal and external clients regarding risk assessment and insurance management, enhancing the value of services offered.
• Drafting sustainable risk transfer proposals and insurance provisions in legal investment documentation to ensure compliance and protection.
• Negotiating insurance coverage with sponsors to secure favorable terms for IFC's investments.
• Assisting clients in achieving positive and sustainable development outcomes while developing local insurance markets in emerging countries.
• Providing leadership and guidance on non-recourse project financing, particularly in complex scenarios involving multiple lenders.
• Offering support and guidance to clients in managing insurance claims effectively when necessary.
• Delivering value-added guidance on operational risk for upstream projects incubated by IFC, ensuring comprehensive risk management.

Required Qualifications:
The required qualifications for the Insurance Officer position include:

• A Master's university degree in finance, accounting, business, or engineering, complemented by international insurance qualifications.
• A minimum of 5 years of relevant working experience, with a preference for candidates who have experience in sophisticated construction and operational phase insurance within the insurance industry.
• Familiarity with the Sub-Saharan Africa insurance and reinsurance market, including operations in CIMA countries.
• Strong knowledge of various industries and sectors, including Infrastructure, Energy, Financial Institutions, Manufacturing, Health, and Education.
• Demonstrated ability to work collaboratively with cross-functional teams to provide effective insurance guidance.
• Applied knowledge of innovative risk transfer solutions and experience leading insurance advisory workstreams for lenders.
• Proven ability to multi-task and train both internal and external clients effectively.
• Strong interpersonal skills and the ability to influence and deliver results in high-pressure environments.
• A self-starter mentality with a results-oriented approach, consistently producing high-quality outcomes under tight deadlines. 1
• Experience working effectively within a complex matrix organization and multicultural environment, along with excellent presentation skills.

Educational Background:
Candidates for the Insurance Officer position are required to have a Master's degree in a relevant field such as finance, accounting, business, or engineering. Additionally, international insurance qualifications are essential to ensure that the candidate possesses the necessary expertise in the insurance domain. This educational background is crucial for understanding the complexities of risk management and insurance solutions in the context of investment and credit risk.

Experience:
The position requires a minimum of 5 years of working experience, particularly in the insurance industry. Candidates with experience in sophisticated construction and operational phase insurance will be preferred. This level of experience is essential for the candidate to effectively assess project risks, negotiate insurance coverage, and provide valuable guidance to clients in various sectors.

Languages:
Fluency in English is mandatory for this position, as it is the primary language of communication within the organization. Additionally, proficiency in French is preferred, as it can enhance the candidate's ability to engage with a broader range of clients and stakeholders in the region.

Additional Notes:
This position is a local recruitment opportunity with a term duration of 3 years, which may be renewable based on performance and organizational needs. The role is full-time, and the successful candidate will be expected to work collaboratively within a diverse and inclusive environment. The World Bank Group offers comprehensive benefits, including a retirement plan, medical, life, and disability insurance, as well as paid leave, including parental leave. The organization is committed to equal opportunity and inclusivity, ensuring that all employees are treated fairly and without discrimination based on gender, religion, race, ethnicity, sexual orientation, or disability.