Insurance Officer

Job Posting Organization:
The International Finance Corporation (IFC) is a member of the World Bank Group, which is one of the largest sources of funding and knowledge for developing countries. Established to help countries solve their greatest development challenges, the WBG is a unique partnership of five global institutions dedicated to ending poverty, increasing shared prosperity, and promoting sustainable development. With 189 member countries and over 120 offices worldwide, the WBG collaborates with public and private sector partners to invest in groundbreaking projects, utilizing data, research, and technology to develop solutions to 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 markets and opportunities. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, aiming to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.

Job Overview:
The Insurance Officer will join the Insurance Services Group (CIRTI) within the Investment and Credit Risk Department of IFC. 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. This 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 key role in evaluating and monitoring insurance coverage for IFC’s investments, ensuring that appropriate insurance solutions are identified and implemented prior to investments being made. The candidate will also provide guidance to clients on risk assessment and insurance management, 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; identifying and assessing project risks and proposing appropriate insurance solutions prior to investment; providing guidance to internal and external clients regarding risk assessment and insurance management; drafting sustainable risk transfer proposals and insurance provisions in legal investment documentation; negotiating insurance coverage with sponsors; assisting clients in achieving sustainable development while developing local insurance markets; providing leadership and guidance on non-recourse project financing involving multiple lenders; guiding clients in handling insurance claims; and providing value-added guidance on operational risk for upstream projects incubated by IFC.

Required Qualifications:
The position requires a Master’s degree in finance, accounting, business, or engineering, along with international insurance qualifications. Candidates should have a minimum of 8-10 years of working experience, with a preference for those who have at least 8 years 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 is essential. Familiarity with various industries and sectors, including Infrastructure, Energy, Financial Institutions, Manufacturing, Health, and Education, is also required. The candidate should demonstrate the ability to lead cross-functional teams, possess applied knowledge of innovative risk transfer solutions, and have experience working with lenders’ insurance advisors.

Educational Background:
Candidates must possess a Master’s degree in a relevant field such as finance, accounting, business, or engineering. Additionally, international insurance qualifications are required to ensure the candidate has the necessary expertise in the field of insurance and risk management.

Experience:
The Insurance Officer should have a minimum of 8-10 years of relevant working experience, with a strong preference for candidates who have at least 8 years of experience specifically in sophisticated construction and operational phase insurance within the insurance industry. This experience should include managing and supporting projects and related insurance needs across various geographical regions, demonstrating a comprehensive understanding of the complexities involved in international insurance practices.

Languages:
Fluency in English is mandatory for this position, as excellent oral and written communication skills in English are essential. Additionally, proficiency in European languages such as French, Russian, or German is preferred, as it would enhance the candidate's ability to communicate effectively with diverse stakeholders across different regions.

Additional Notes:
This position is classified as an international recruitment role with a term duration of 3 years. The successful candidate will be expected to work in Washington, DC, or another agreed-upon location based on HR and regional requirements. The World Bank Group offers a comprehensive benefits package, 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 there is no discrimination based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.