Economist/Results Measurement Specialist

The World Bank
Washington DC - United States
S: Competitive

Description

IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org

The Economics and Private Sector Development Vice Presidency (CEDVP) is responsible for identifying and delivering on private sector diagnostic needs, drawing on resources across the WBG, to grow IFC's capacity to deliver Country Private Sector Diagnostics (CPSDs), and present private sector perspectives in Systematic Country Diagnostics or Country Partnership Frameworks (SCD/CPF) and country strategies; developing rigorous sector economic analyses and an ex ante project assessment framework to help guide project selection, complementing our expertise in supporting and monitoring project implementation; as well as identifying and strategically driving policy engagements that create and grow new markets for the private sector. The CEDVP also encompasses teams working on global macroeconomic analyses and prospects as well as the team in charge of gender mainstreaming in IFC. The Vice Presidency is also home to two additional operational teams and content providers focusing on Blended Finance and Climate Businesses.

The Sector Economics and Development Impact Department (CSE), part of the Economics & Private Sector Development Vice Presidency, analyzes economic sectors with a view to identifying opportunities and solutions for private sector development, and works closely with IFC Operations in formulating sector priorities and strategies. It is expected to provide technical support to operations related to structuring, appraising, and monitoring investment and advisory projects and is responsible for reporting on IFC's impact. The department is in charge of fully developing and implementing the ex-ante project assessment framework (Anticipated Impact Measurement and Monitoring- AIMM) for investment and advisory projects throughout the project cycle, help ensure high-quality economic support for IFC operations teams on strategies and projects; and develop sector economic analyses with a focus on solutions for private sector development.

CSE is the largest department in the Economics and Private Sector Development Vice Presidency, with approximately 80 staff, comprised of mainly sector economists and results measurement specialists assigned currently to fully integrated units organized along IFC industry groupings. These include: CSE unit for Financial Institutions Group (CSEFI); CSE unit for Infrastructure and Natural Resources (CSEIN); and CSE unit for Manufacturing, Agribusiness, and Services (CSEMA); and CSE unit for Funds and Disruptive Technology team (CSETT). For each unit, the sector economists are embedded in the respective industry groups to ensure they play a connective tissue role. Still, they are an integral part of CSE and report to CSE managers. The department also includes two additional teams in charge of economic modeling (CSEIM) composed of research economists and the CSE unit for Results Measurement and Corporate Reporting (CSECR) that support all industry groups. In short, the department offers an "end-to-end" support and impact assessments for IFC investments and advisory services, engaging upstream and downstream throughout the project cycle.

The Funds and Disruptive Technology team (CTT) is in charge of implementing CSE mandates and deliverables described above in relation to sectors that comprise Private Equity Funds and Venture Capital Investment. This includes fully developing and implementing the ex-ante project assessment framework for investment and advisory projects throughout the project cycle, monitoring and evaluating impact of both investments and advisory projects, help ensure high-quality economic support for IFC CTT teams on strategies and projects, and develop sector economic analyses with a focus on solutions for private sector development. These activities will support operations done by CTT teams to deliver equity investments that support growing enterprises across emerging markets, and the digital services required to support the development of a Digital Economy.

The Department is looking for an Economist/ Results Measurement Specialist to provide, on an ongoing basis, economic analysis/ expert advice on Monitoring and evaluation and necessary support to operational teams and management, assess the development impact of projects under CTT industry business lines while ensuring consistent application of standard impact measurement and monitoring frameworks, help generate relevant and robust analysis highlighting lessons learned and support staff incorporate such lessons into project design, provide technical support and quality control to donor funded facilities, and contribute to evaluative work beyond the project lifecycle. S/he will work in close collaboration with the Investment and Advisory Staff of the Funds & Disruptive Technology team (CTT).

Role & Responsibilities

Provide support on articulating and measuring the economic impact of Private Equity Funds and Venture Capital/Technology industries, and of projects in these sectors undertaken by the IFC.
Contribute to the implementation of an ex-ante project assessment framework for investment and advisory projects throughout the project cycle.
Work with IFC's Investment Officers to collect and analyze project data, apply the appropriate frameworks on the basis of data and research, create narratives that support the articulation of project impacts, and rate projects.
Work with investment and advisory teams on the CTT portfolio to ensure consistent understanding and application of standard impact measurement and monitoring frameworks and methods.
Contribute to the development and implementation of the Monitoring system for both investments and advisory projects and better report on projects development outcomes in the CTT lines of business.
Undertake rigorous analytical work analyzing trends and developments in the Funds and VC sector on the global and country level and producing reports with a focus on challenges, priorities, and opportunities for market creation and private sector development in the sector.
Undertake economic and econometric research on a variety of economic topics relevant for the Funds and VC sectors in collaboration with relevant CTT investment and advisory teams to inform sector strategies and operational decisions.
Design and conduct ex-post evaluation work that help establish the feedback loop in IFC CTT operations and enhance IFC's ability to better articulate its development impact narrative and report on achieved development outcomes, thus foster further learning and dissemination of best practices to Sector Economics and CTT teams.
Provide M&E inputs to donor proposals, and lead quality assurance and reporting of results internally and externally to donors
Manage research consultants who can support research tasks.
Perform other tasks as requested by CSE management.


Selection Criteria

Master's degree in Economics or related field from a reputable university, is required.
5 to 8 years of experience demonstrating analytical and economics skills, with experience in both DFIs and the private sector (e.g. investment banking, technology startups).
Subject matter expertise: previous experience in evaluating the economic and development impact of projects on private equity and venture capital funds is required; experience on disruptive business models and digital platforms, particularly in emerging markets, and in relation to DFIs is a bonus.
Experience in IFC or similar multi-lateral development institutions with proven success in developing client relationships and supporting high quality investment and advisory projects;
Proven experience and good understanding of investment/advisory projects' development outcome assessment and processes methods. Knowledge of IFC's Anticipated Measurement and Monitoring system and Knowledge of DFIs' additionality frameworks is a plus
Strong familiarity with academic and business literature on private equity, financial markets, digital economy, and on PE and VC metrics – demonstrated through the preparation of reports and models using this data. Proven knowledge of related databases and other sources of information;
Proven ability to analyze and apply economic theory and principles to areas related private equity, financial markets, digital economy.
Strong analytical and quantitative skills. Proven capability to handle complex assignments (e.g. project related or analytical tasks with operational relevance) and produce analytical work to a high professional standard, with minimum supervision,
Experience with business analytics and results measurement methods, including, survey design and implementation, and experimental and non-experimental evaluation designs, project design through proven capabilities to develop project development impact thesis, design projects' logical frameworks including SMART indicators and realistic and achievable targets. Training or certification in monitoring and to persuade and influence others across organizational boundaries/or evaluations is a plus
Proven ability to monitor data quality and improve it as needed for advisory and investment operations.
Understanding of new disruptive technologies and their impact and risks for private investors and firms – demonstrated through a good grasp on theory change as well as the evaluation and measurement of impacts projects in this field,
Ability to train regional management and staff on results measurement related to CTT; particularly on data quality assurance and reporting of results in line with corporate guidelines and standard impact measurement and monitoring frameworks.
Ability to innovate, develop innovative solutions with others, and to deliver results for clients by proactively addressing clients' stated and unstated needs,
Proven ability to work in teams and capability to work in multi-cultural environments.
Excellent written and verbal communication skills in English and ability to communicate effectively with different stakeholders.

Job summary