Lead Energy Specialist Job : req30310 Organization: World Bank Sector: Energy Grade: GH Term Duration: 3 years 0 months Recruitment Type: International Recruitment Location: Washington, DC,United States Required Language(s): English Preferred Language(s): Spanish Closing Date: 12/7/2024 (MM/DD/YYYY) at 11:59pm UTC Description Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org. The WBG consists of five specialized institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). The World Bank is organized into six client-facing Regional Vice-Presidencies, several corporate functions and thirteen Global Practices to bring best-in-class knowledge and solutions to regional and country clients. Latin America and the Caribbean (LCR) Region The WBG serves 30 client countries in the Latin America and the Caribbean Region (LCR). Clients range from large rapidly growing sophisticated middle-income clients to IDA countries to small Caribbean states to one fragile state. Despite immense resources, dynamic societies, and an average annual per capita income of about $4,000, deep inequalities persist in most LCR countries, with nearly a quarter of the Region's people living in poverty. The last Bank's strategy for LCR focuses on three pillars: (a) supporting the foundations for inclusive growth; (b) investing in human capital and protecting the poor; and (c) building resilience. See Latin America and the Caribbean Region (LCR): https://www.worldbank.org/en/region/lac Infrastructure Practice Group The World Bank Group helps developing countries build smart infrastructure that supports inclusive and sustainable growth, expands markets, creates job opportunities, promotes competition, and contributes to a cleaner future. We help countries address their unique infrastructure needs by working with the public and private sectors. Infrastructure improves lives by connecting people to opportunity. For more information: https://www.worldbank.org/en/topic/infrastructure Energy & Extractives Global Practice Energy is at the heart of development. Energy makes possible the investments, innovations and new industries that are the engines of jobs, inclusive growth and shared prosperity for entire economies. Universal access to affordable, reliable and sustainable and modern energy - Sustainable Development Goal (SDG) 7 - is essential to reach other SDGs and is at the center of efforts to tackle climate change. For more information: https://www.worldbank.org/en/topic/energy The Latin America and Caribbean (LAC) Regional Energy Unit The Latin America and Caribbean (LAC) Regional Energy Unit operates in the context of the overall Bank mission while focusing on the key energy challenges for the region, which include (i) improving the quality and efficiency of energy infrastructure services, and expanding sustainable energy infrastructure capacity, (ii) increasing deployment of clean energy technologies and practices, (iii) decarbonizing hard-to-abate sectors, and (iv) increasing resilience to climate change. Lending and analytical activities focus on sectoral reforms and strategic investments across a wide range of areas, with the common objective of contributing significantly to economic growth through transparent, viable and sustainable energy sector development solutions (examples include energy subsidy reform, effective tariff design, institutional and governance strengthening, financially sustainable utilities, emerging innovative solutions, creating enabling environments for private sector participation, among other). The WBG support to the energy sector in the region is delivered as a coordinated effort with Government counterparts, other relevant financial institutions and development banks, and multiple technical partners. The Lead Energy Infrastructure Finance Specialist for the LAC Energy Unit will lead the dialogue with financial institutions, national development banks, commercial banks and institutional investors in the region -in coordination with Energy Sector Institutions and Energy Teams- on how to structure financing facilities/funds and ad-hoc or innovative financial solutions to support the scale up of sustainable energy infrastructure. Duties and Accountabilities: • Lead the development of innovative credit enhancement/risk mitigation structures and products, and creative financial solutions to support policy and project interventions in the energy sector (with a focus on sustainable energy, i.e., clean energy, power sector, decarbonization of industrial sector, hydrogen, among other). • Lead the design of financial structures using guarantees and/or other financial instruments to meet the changing needs of national development banks, commercial banks, and institutional investors. • Lead dialogue on financing matters/solutions in energy infrastructure projects. • Identify and develop High-Risk High-Reward transactions in sustainable energy (aka transformational" operations), including support during upstream preparation, structuring, negotiation, and closing of the transactions. • Contribute to the development of operational documents and provide support for internal processing, review transaction agreements, and coordinate across project components with other team members. • Lead the design of complex infrastructure interventions that intend to mobilize private capital - including the provision of high-quality and timely advice on all aspects of policy, legislation, planning, procurement, financing and regulatory aspects of a project development and operation. • Advise clients internally (under LCRVPU) and externally (governments), on the development and effective implementation of private investments for sustainable developments in infrastructure. • Support the expansion of Bank's project pipeline that is targeted to mobilize private sector financing. This includes (i) identification of opportunities and candidates, (ii) relationship building and management with both internal clients (Country Management Units, IFC & MIGA, Treasury) and external clients (commercial banks, institutional investors, private project participants, etc.). • Provide practical and cutting-edge expertise related to energy infrastructure finance and policy, including on the development of legal, regulatory and institutional frameworks and financing structuring. • Lead and/or support teams on the preparation, structuring, negotiation, and closing of investment and policy operations designed to raise sustainable and affordable commercial financing. • Recommend and structure credit enhancement products (including WB guarantees) to enable provision of sustainable and affordable commercial financing solutions • Lead and/or support teams on preparation and execution of MFD advisory work and technical assistance with focus on (i) prioritization and planning of energy infrastructure investment, (ii) strengthening policy and regulatory frameworks, (iii) enabling infrastructure PPPs and (iv) enhancing government institutional capacity. • Facilitate dialogue between CMUs and Government officials on private sector participation and commercial financing alternatives in infrastructure. • Coordinate and collaborate with other WBG units including IFC and MIGA with the objective of delivering the best mix of WBG products that meet the client's needs; and • Disseminate World Bank Group (WBG) capabilities and products for risk mitigation at international fora and within WBG group. • Contribute to enhance the understanding/knowledge of LAC energy team in the area of infrastructure financing and mentor senior and junior colleagues. Selection Criteria • Advanced university degree(s) in areas such as international business, finance, law, engineering or economics; with postgraduate studies or further training in areas aligned to infrastructure financing -such as Masters in Finance, MBA, or equivalent- is required. • At least fifteen years of relevant professional experience in the area of project finance, including structured finance in emerging markets. Experience with private equity and private placements would be a plus. • Demonstrated leadership in innovative financial solutions and a track record of operations that have achieved financial close with innovative and/or complex financial structures. A background in investment and development banking with demonstrated experience in working with private sector projects and governments (including state owned utilities/infrastructure authorities). • Experience in multiple sectors, such as energy, transport and water at federal, state, municipal/city levels. • A full understanding of project and structured finance and capital markets and the use of risk mitigation instruments. Familiarity with commercial banks and institutional investors and the key motives and constraints driving their lending or investment would be a plus. • Demonstrated understanding of, and experience with, the various entities of the WBG (IFC and MIGA), including a proven track record of WBG collaboration. • Demonstrated understanding of Bank Group's preferred creditor status and the convening power of multilateral institutions. • Demonstrated experience in working with the various instruments offered by the World Bank, including IDA/IBRD loans, guarantees and other similar instruments provided by Trust Funds administered by the World Bank. A thorough understanding of each such instrument, including their respective policies, procedures, and how these could be combined or optimized, will be a plus. • An understanding of market trends and innovative financial developments across sectors and regions and an ability to translate such trends and developments to potential opportunities that could expand the World Bank's project pipeline that is targeted to mobilize private sector financing. • Excellent oral and written communication skills in English. • Excellent oral and written communication skills in Spanish is strongly recommended. • Proven ability to interact and communicate effectively with clients at a senior level. • Familiarity with legal documentation that fall within the usual realms of finance, but also fall within a multitude of complex commercial contracts that underpin infrastructure projects. • Ability to work flexibly on a range of assignments and prioritize a variety of complex evolving tasks. • Ability to deal sensitively in a multicultural environment and build effective work relations with clients and colleagues. • Willingness and ability to travel extensively. Competencies: • General Economics Knowledge and Analytical Skills • Knowledge and Experience in Infrastructure: • Policy Dialogue Skills • Integrative Skills: • Written and Verbal Communication: WBG Core Competencies: • Lead and Innovate - Develops innovative solutions with others. • Deliver Results for Clients - Achieves results and identifies mission-driven solutions for the client. • Collaborate Within Teams and Across Boundaries - Initiates collaboration across boundaries and broadly across WBG and brings differing ideas into the forefront. • Create, Apply and Share Knowledge - Creates, applies and shares knowledge from across and outside WBG to strengthen internal and/or external client solutions. • Make Smart Decisions - Recommends and takes decisive action. If the selected candidate is a current World Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 years 0 months term appointment. Poverty has no borders, neither does excellence. We succeed because of our differences and we continuously search for qualified individuals with diverse backgrounds from around the globe. World Bank Group Core Competencies The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities. We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability. Learn more about working at the World Bank and IFC, including our values and inspiring stories.