Senior Mobile Financial Services Specialist Bogota, Colombia

Job #:	112511
Title:	Senior Mobile Financial Services Specialist
Job Stream:	Technical Assistance & Advisory Services
Location:	Bogota, Colombia
Closing Date:	01/22/2012
Background / General description:
IFC, a member of the World Bank Group, promotes sustainable private sector investment in developing countries as a way to reduce poverty and improve people’s lives. In addition to its investment work, IFC provides advisory services to a number of its clients to support them in meeting specific development goals. IFC’s support to the financial sector is implemented via its Access to Finance Business (A2F) Line and is organized around the following main themes: • Retail and Micro: including Microfinance, Mobile Financial Services, Housing Finance, Rural Finance, Responsible Finance and Insurance. • SME and Business: SME Finance, Sustainable Energy Finance, Agrifinance, Leasing, Trade Finance, Gender, Risk Management and Corporate Governance. • Financial Infrastructure: Credit Reporting, Collateral Registries and Secured Transactions, Securities Markets These services are delivered through regional Advisory Services (AS) facilities, with support from global product specialists, and in partnership with IFC’s Investment Services (IS) teams. IFC & Mobile Financial Services: Some 2.7 billion adults – almost 70 percent of the population in developing countries – have no access to formal financial services. IFC, along with a number of other international development agencies, sees mobile financial services (MFS) as an important way to bring low-income people into the formal financial system in ways that are efficient and cost-effective for the users. Based on some early success stories, the industry is experiencing a period of experimentation, with banks, mobile network operators (MNOs) and third party providers all testing different pilot solutions, to see what can work and achieve scale, while remaining cost effective. In order to promote and support the development of MFS, IFC launched the Latin America and the Caribbean (LAC) MFS Program in late 2010. As part of this multi-year initiative, IFC is engaging with a range of MFS partners to address key constraints to the rapid deployment of mobile solutions for banking the poor, particularly: 1) business model definition and refinement; 2) agent network management, 3) market research to define needs (and willingness to pay) of low-income consumers; 4) understanding barriers to the uptake of new technologies among the poor; and 5) consumer education. It should be noted that IFC is not limiting its approach to mobile phone based solutions, but rather is looking at any sort of technology and/or agent enabled models that have potential for improving access to financial services for the poor. In addition to working with partner institutions, the MFS Program has a key knowledge sharing and dissemination component in order to share the learning from the Program with the broader MFS community. Given the global and rapidly evolving nature of the MFS business, the specialist will be expected to spend the bulk of his/her time working on project implementation in LAC, but should plan on contributing some of his/her time (up to 20%) to the global learning agenda and supporting projects in other regions, so that knowledge and learning from LAC can be exported and lessons learned in other regions imported to LAC.
Duties and Accountabilities:
IFC is seeking to recruit a highly-motivated Senior MFS Specialist, with extensive hands-on experience in designing and managing projects related to the implementation of MFS deployments in LAC and globally. The Senior Specialist will be responsible for developing a strategy and leading the delivery of the LAC MFS program. He/she will work closely with the local teams and under the supervision of the A2F Regional Business Line Leader to expand the portfolio of client projects in the region. He/she will also support a substantial knowledge and learning agenda for mobile financial services, in partnership with the global MFS team, and will be expected to contribute to tools and standards that are disseminated globally. The position will be based in Bogota or Mexico City. Specific tasks include: Strategy: • In consultation with the Global Product Leader/Specialist, develop strategy for MFS Advisory in LAC, with a focus on achieving high development impact, defined as bringing the poor and unbanked into the formal financial system, and ensure alignment with IFC’s strategic objectives in LAC more generally; • Contribute to an evolving global strategy for MFS, based on best practice and learning in LAC; Business Development • Lead the development of a project portfolio in MFS in LAC, identifying and vetting prospective clients in partnership with regional IFC AS operational staff, the global specialist team and investment teams; • Develop partnership proposals for prospective clients on the basis of appraisals of their operations and on-going business development discussions; • Guide client projects through IFC’s internal approval process, ensuring that lessons learned world-wide are appropriately taken into account in the design of new projects; • Support the Global MFS team in the abovementioned areas with respect to regional subsidiaries of global partnerships; Project Implementation and Technical Support • Manage implementation of the LAC MFS program, under the supervision of the A2F Regional Business Line Leader and in coordination with the Global Product Leader; • Monitor implementation and progress of AS MFS projects and recommend corrective actions where/if necessary; • Supervision of consultant work to ensure high quality and on-time delivery of work program; • Support IFC MFS investment efforts, by interacting closely with the Global Financial Markets (CGF) industry department and the Global Information Technology (CIT) industry department. This will include supporting the vetting of potential investment clients, pipeline identification and participation in joint investment-advisory appraisals, where appropriate. Results Measurement and Learning • Close collaboration with the LAC Monitoring & Evaluation Officer, to ensure that evaluation activities are embedded into project design and implementation; • Oversee development of necessary approval documents, supervision and completion reports and review for quality control; • Contribute to the design and development of internal and external knowledge sharing events to share product lessons and experience, and to learn from others; • Ensure project materials related to mobile banking are properly documented and archived, with the objective of building core product expertise and a solid knowledge base; • Support global dissemination of knowledge through participation in regular practice group meetings with peer specialists, conducting appraisal missions in other regions and on-going contribution of client-tested tools to the Mobile Money Toolkit. Resource Management • Provide technical supervision support to the LAC team working on IFC’s MFS client engagements; • As required, provide feedback on performance of specific regional staff; • Recommend allocation and deployment of relevant internal technical specialists to client projects; • Support the identification and selection of short-term consultants/firms to deliver agreed programs of work with clients; • Help raise additional donor funding for the MFS program in the region; • Ensure appropriate utilization of budgeted resources for MFS. Global work • Provide support to IFC’s MFS work at global level; • Contribute to knowledge management for MFS, including, but not limited to KM related to work in LAC region.
Selection Criteria:
• MBA, Master of Finance, Master of Public Policy or other relevant qualification; • At least ten years of operational experience in financial services and/or technology solutions for financial services in emerging markets, preferably with at least 4-5 years of direct experience in the use of technology to expand reach of financial services to low-income populations. • Experience in designing MFS advisory programs in emerging markets a plus. • Recognized leadership in the banking, consulting or development finance communities particularly in the use of technology to reach the unbanked. • Strong familiarity with international best market practices and global trends in mobile financial services and payments systems. Related expertise in microfinance or SME banking a plus. • Experience in due diligence exercises for advisory or investments engagements in emerging market financial institutions, MNOs or third party payment providers. A demonstrated ability to identify problems and propose solutions to clients. • A keen interest in development finance and in working in a multicultural environment; experience in a multilateral finance institution would be an advantage. • Strong client relationship management skills and ability to establish credibility among clients. • Ability to work effectively in teams, communicate ideas clearly and confidently, articulate issues and recommend solutions. • Fluent written and spoken English and Spanish a requirement. Ability to operate in Portuguese and/or French would be an advantage. • Willingness and ability to travel extensively. Details (vacancy #112511) are available in the World Bank Careers website: www.ifc.org, click on ‘Careers’ and then on ‘Current opportunities. Applications should be sent in English. All applications must be submitted through this website. The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background. Individuals with disabilities are equally encouraged to apply. Applications without a cover letter will not be considered. Cover letter should clearly describe the relevant results the candidate has delivered in prior positions, rather than simply listing responsibilities. All applications will be treated in the strictest confidence. Only short-listed candidates will be contacted. The contract for this position has an initial duration of 2 years (renewable), with a one-year probation period and subject to be renewed. This is local hire (paid in local currency). The appointee will be stationed in Bogota, Colombia or Mexico City, Mexico. Closing date is [January 15, 2012].
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