Insurance Officer

Job Posting Organization:
The job posting organization is the International Finance Corporation (IFC), which is a member of the World Bank Group (WBG). The WBG is one of the largest sources of funding and knowledge for developing countries, dedicated to ending poverty, increasing shared prosperity, and promoting sustainable development. Established with 189 member countries and over 120 offices worldwide, the WBG collaborates with public and private sector partners to invest in groundbreaking projects and utilize data, research, and technology to address urgent global challenges. The IFC specifically focuses on the private sector in emerging markets, working in more than 100 countries and leveraging private sector solutions to create opportunities and markets in developing nations. 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 creating a world free of poverty on a livable planet. For more information, visit www.ifc.org.

Job Overview:
The Insurance Officer position is situated within IFC’s Insurance Services Group (CIRTI), which is part of the Investment and Credit Risk Department. This role is crucial as it involves providing support to Investment Departments regarding risk assessment and insurance issues related to underlying investments. The successful candidate will be responsible for insurance activities primarily in Europe, Central Asia, and Latin America and the Caribbean (LAC) regions. The position requires a comprehensive understanding of various industry sectors, including Infrastructure, Natural Resources, Financial Institutions, Manufacturing, and Agribusiness & Services. The Insurance Officer will play a pivotal role in establishing, evaluating, and monitoring the insurance coverage of IFC’s investments, ensuring that appropriate insurance solutions are identified and assessed prior to investment. This position not only demands technical expertise but also the ability to provide guidance to clients and internal stakeholders, draft sustainable risk transfer proposals, negotiate insurance coverage, and assist clients in achieving positive development outcomes while fostering local insurance markets in emerging countries.

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

• Establishing, evaluating, and monitoring the insurance coverage of IFC’s investments, which involves careful identification and assessment of project risks and appropriate insurance solutions prior to investment.
• Providing guidance to both internal and external clients regarding risk assessment and the value-added services of insurance management.
• Drafting sustainable risk transfer proposals and insurance provisions in legal investment documentation.
• Negotiating insurance coverage with sponsors to ensure adequate protection for investments.
• Assisting clients in achieving positive and sustainable development while also developing local insurance markets in emerging countries.
• Providing leadership and guidance on non-recourse project financing that involves multiple lenders without in-house capacity.
• Offering guidance to clients in handling insurance claims when necessary.
• Providing value-added guidance on operational risk for upstream projects incubated by IFC. This comprehensive set of responsibilities highlights the multifaceted nature of the role and the importance of collaboration and negotiation skills in achieving the organization's goals.

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

• A Master’s degree in finance, accounting, business, or engineering, along with international insurance qualifications.
• A minimum of 8-10 years of working experience, with a preference for candidates who have at least 8 years of experience in sophisticated construction and operational phase insurance within the insurance industry.
• Significant experience in managing and supporting projects and related insurance needs across multiple geographical regions.
• Strong familiarity with various industries and sectors, including Infrastructure, Energy, Financial Institutions, Manufacturing, Health, and Education.
• Demonstrated ability to lead cross-foundational teams in providing insurance guidance.
• Applied knowledge of innovative risk transfer solutions.
• Proven experience in working with and leading lenders’ insurance advisors workstreams.
• Excellent negotiation skills and the ability to seek innovative and constructive solutions to support IFC in achieving its financial and development goals.
• A self-starter attitude with a proven ability to work independently while being results-oriented, consistently producing high-quality results under tight deadlines. 1
• High standards of integrity and strong independence of thought, with the ability to express candid opinions. 1
• Recognized as a team player and leader with excellent interpersonal skills, capable of building strong relationships across boundaries. 1
• Proven ability to work effectively within a complex matrix organization and multicultural environment.

Educational Background:
The educational background required for the Insurance Officer position includes a Master’s degree in a relevant field such as finance, accounting, business, or engineering. Additionally, candidates should possess international insurance qualifications that demonstrate their expertise and understanding of the insurance industry, particularly in relation to investment and risk management.

Experience:
Candidates for the Insurance Officer position should have a minimum of 8-10 years of relevant working experience. This experience should ideally include at least 8 years in sophisticated construction and operational phase insurance within the insurance industry. The role requires significant experience in managing and supporting projects and related insurance needs across multiple geographical regions, showcasing the candidate's ability to navigate complex insurance landscapes and provide effective solutions.

Languages:
The mandatory language requirement for this position is English, as it is essential for communication within the organization and with clients. Additionally, proficiency in European languages such as French, Russian, or Spanish is preferred, as it can enhance the candidate's ability to engage with diverse stakeholders and clients in various regions.

Additional Notes:
The Insurance Officer position is a full-time role with a term duration of 3 years. It is part of an international recruitment effort, indicating that candidates from various countries may apply. The position is based in Washington, DC, but may also allow for flexibility in location on a case-by-case basis, subject to HR and regional requirements. The World Bank Group offers comprehensive benefits, including a retirement plan, medical, life and disability insurance, and paid leave, including parental leave. The organization is committed to being an equal opportunity and inclusive employer, ensuring that all individuals are treated fairly regardless of gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.