Internship Summary:
Organization: IFC – International Finance Corporation
Country: South Africa
City: Johannesburg
Grade: UC
Term Duration: 0 years 5 months
Recruitment Type: Local Recruitment
Location: Johannesburg, South Africa; Cairo, Egypt; Nairobi, Kenya
Required Language(s): English
Preferred Language(s): French
Application Deadline: 02 March 2025 at 11:59pm UTC
Description
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities. Our mission is to leverage the power of the private sector to end extreme poverty and boost shared prosperity on a livable planet.
IFC’s Africa Infrastructure Department is seeking an intern as part of our Global Internship Program (GIP). The Global Internship Program (GIP) offers highly motivated individuals an opportunity to be exposed to the mission and work of IFC and the broader World Bank Group and become part of the largest private sector development institution in the world. The program encourages individuals to bring new perspectives and innovative ideas to IFC’s work, while improving skills in a diverse and highly stimulating environment. Moreover, the Global Internship Program provides a unique opportunity to exchange ideas and network with international professionals dedicated to ending extreme poverty and boosting prosperity in the developing world. The internship is open for in-person or remote participation. If remote, please note the working hours: GMT +/- 2 hours, to be able to interact with the Infra Africa Team (mostly based in Africa).
Duties and Accountabilities:
This is an opportunity to work within the infrastructure Africa team, and support the supervision and management of a $5bn portfolio. The Intern will principally assist in delivering (i) essential credit/structuring benchmarks needed for our new transactions, (ii) enhanced operational process to support credit review of the portfolio, and (iii) fund management specific tasks. More specifically, the work will include: Projects related:
- Define (in discussion with the Portfolio Leads) a number of key commercial/credit/operational criteria to be tracked across our portfolio projects, that will inform structuring of new projects. Develop a database for these by working with the relevant projects IOs.
- Improve the process of documenting key executed legal information by Projects (project “bible”, relevant amendments and waivers as processed through the PDS changes). Portfolio operational:
- Work with Portfolio Leads (and credit if needed) to design a template for PD and LGD on Word, that’ll be used to track changes between quarterly credit review.
- Create a repository for portfolio knowledge management: lessons learned papers, XPSRs, key guidance notes.
- Support training efforts in relation to specific topics (for example fund valuation/supervision, Equity valuation etc.).
Fund management specific:
- Develop a format and produce IFC Africa Infrastructure Team Fund Investment 2-pagers for all fund projects (currently 10 projects in our portfolio).
- Support generating a CRR in accordance with our investment procedures and requirements.
Selection Criteria
- Candidates must be currently enrolled in a Master’s degree level program
- Preferred field of study: Finance; Accounting; Statistics
- Minimum of 2 years of previous work experience
- Strong Excel skills are required
- CFA would be a plus
Please refrain from submitting more than three applications to our internship program; otherwise, your candidacy may be disqualified and rescinded.
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.
Link: https://worldbankgroup.csod.com/ux/ats/careersite/1/home/requisition/31554?c=worldbankgroup
