Terms of Reference



An operational and financial consolidation of the Inter-American Development Bank Group’s (IDBG, www.iadb.org) non-sovereign guaranteed operations has been approved by the Boards of Governors and is currently underway, in order to further promote the economic and social development of the regional developing member countries by fostering the establishment, expansion, and modernization of enterprises as a complement to the development work of the IDB.  The consolidated functions will be housed in the IDBG under the Inter-American Investment Corporation (IIC) starting in 2016.  Thus, the IDBG is searching for a strategic Executive leader for the most senior position of the consolidated private sector development entity, that of IIC General Manager.

The IIC is made up of a constituency of member countries.  Within the IDBG, the IIC is a legally autonomous institution, with its own Charter, share capital, management and staff.  The IIC’s mandate is fully part of the IDB Group’s overall development objectives.  It is headquartered in Washington, D.C.

The new IIC will concentrate on operations in defined Priority Business Areas, namely medium- and small-enterprise access to finance and technical assistance, the promotion of infrastructure development, support to innovation and technological development, the enhancement of private provision of basic goods and services, income-generating opportunities, and social mobility for vulnerable populations, and the fostering of green growth. 

The IIC’s charter provides the basic governance of the Corporation.  This framework includes the Board of Governors, the Board of Executive Directors, the Chairman of the Board of Executive Directors, who is also the President of the IDB, and the General Manager (Chief Executive Officer–CEO).

The General Manager shall be chief of the officers and staff of the Corporation.  Under the direction of the Board of Executive Directors and the general supervision of the Chairman of the Board of Executive Directors, s/he will conduct the ordinary business of the Corporation and, in consultation with the Board of Executive Directors and the Chairman of the Board of Executive Directors, shall be responsible for the organization, appointment and dismissal of the officers and staff.  Further to the Charter’s provision for general supervision, the Chairman of the Board maintains effective and open communication with the General Manager who is responsible for the day-to-day operation of the institution.  This requires developing a synergistic relationship to ensure that the Board, the Chairman, and the General Manager are aligned to a common vision of success for the IIC. 

The Strategic Core that supports the General Manager will be comprised of the following Officers:  (i) Chief, Investment Operations (CIO); (ii) Chief Risk Officer (CRO); (iii) Chief, Strategic Planning, Development Effectiveness and Programming (CSO); (iv) Chief Administration and Finance Officer (CAF); and (v) General Counsel.  Additionally, the External Relations Manager of the IDB, as well as the heads of various IDBG oversight functions, will be brought in to provide strategic decision-making as appropriate to their substantive areas of expertise.

The IIC General Manager will be tasked with guiding the institution into a new phase in which the operational and administrative functions and non-financial resources associated with non-sovereign guaranteed activities in the IDB will be transferred to the IIC and the capital stock of the IIC will be increased by over $2 billion.  To this end, the IIC’s strategy will highly complement the IDB’s overall public and private sector development efforts.  The IIC, guided by the principles of strengthening development effectiveness, development impact and additionality, and maximizing the efficient use of resources and synergies between the IDB Group’s public and private sector activities, will, therefore, carry out the full range of operations currently carried out by the IDB Group non-sovereign guaranteed windows, including operations transactions with state-owned enterprises (SOEs).

Location:  Washington, D.C.

Appointment Type:  Individual will receive a three-year fixed-term contract appointment, which may be eligible for renewal based on mutual agreement.

Main Functions and Responsibilities of the Position:

Under the direction of the Board of Executive Directors and the supervision of the Chairman of the Board of the IIC, who is also the IDB President, the General Manager of the IIC (effectively CEO) implements the IIC’s business and development objectives and strategy.  The General Manager conducts the ordinary business of the IIC, and is responsible for (among others):

  • Implementing the strategic direction and long-term vision for the institution while maximizing development impact and ensuring financial sustainability.
  • Providing executive leadership and policy direction to the organization and supporting the Chairman of the Board who represents it vis-à-vis its shareholders.
  • Maximizing synergies with other parts of the IDBG, ensuring that effective and efficient synergies between the IIC and IDB are reflected throughout the new organization in order for both organizations to meet their goals and work towards the IDBG mission.
  • Overseeing all IIC operations, including investment analysis, portfolio management, technical assistance, and finance and strategic planning, under the direction of the Board of Executive Directors and the supervision of the Chairman of the Board.
  • Managing the IIC with the support of the Corporation’s senior management, supervising them accordingly.  Defines the responsibilities of its officials and reviews staff rules, as needed and under the direction of the Board of Executive Directors and supervision of the Chairman of the Board, as warranted.
  • Guiding key finance and investment operations to assure that the IIC maintains its financial standing and continues to demonstrate significant development impact.
  • Identifying, analyzing, and recommending opportunities for investment in private and state-owned enterprises of the Latin American and Caribbean member countries.
  • Forging partnerships and seeking synergies with the IDB Group and externally.  Communicates IIC goals and objectives to outside investors, potential clients, business leaders, government officials, and others, and ensures to IIC’s shareholders that implementation of such goals and objectives are carried out transparently.
  • Stimulating innovative ways to leverage IIC resources and mobilizing additional ones to address development challenges through the private sector.
  • Leading change management efforts as regards the creation of a new entity to service development through the consolidation of the private sector activities of the IDBG.  Contributes to creating and fostering a culture focused on results by promoting behaviors that enhance the ability to achieve performance targets at the institutional, business unit, and individual levels.

Selection Criteria:

The successful candidate must be a seasoned executive with experience in Latin America and the Caribbean (LAC), and who has:

  • A strong track record of success as a CEO, COO, or in an equivalent position with similar responsibilities at a significant public or private corporation, financial and/or development institution, or similar enterprise.  Management experience in at least one LAC country is preferred.  
  • Passion for and experience relevant to economic development through the private sector.
  • Significant experience in corporate finance, development finance, financial products and complex investment instruments, and risk management, with clear accountability for profit and loss.
  • Extensive, but not exclusive, experience with the private sector and familiarity with public/private partnership models.  Experience with other development banks is preferred.  Experience in the Priority Business Areas is a plus.  Experience with SOEs is a plus.
  • A strong understanding of the operational frameworks of public sector and/or multilateral institutions (including their special governance, safeguards, and human resources structures).
  • The ability to attract, select, and motivate talented and diverse staff; an outstanding, effective people manager who models inclusive behaviors and promotes diversity. 
  • Capacity to plan and manage human resources and operations to achieve quality results in a productive and financially sustainable manner.  Strong client services orientation.
  • Demonstrated effective management and leadership skills. A record of decisively leading successful organizational change programs in a complex environment is a plus. 
  • Outstanding interpersonal skills and demonstrated capacity to foster a cooperative work environment and work effectively with all levels of staff and key stakeholders across the IDB Group.  This includes Management, Executive Directors, and various institutional committees, as well as with outside partners.  Excellent networking, communication and presentation skills.
  • A commitment to advocacy for the highest standards of corporate governance, transparency, and corporate social responsibility.
  • Unquestionable integrity and the highest ethical standards.
  • Sound judgment and the ability to develop creative, innovative approaches and solutions. Exceptional strategic thinking, negotiation, and analytical abilities required.

Education and Professional Requirements:

The successful candidate must be a recognized executive and leader with executive stature and standing in the field and in the relevant professional communities, as evidenced by a proven track record of 15+ years of relevant experience (as described under the Selection Criteria section).  In addition, the candidate must have the following:

  • An advanced degree (at least Master’s, MBA, or equivalent) in finance, business administration, economics, or other relevant field.
  • Extensive understanding of the role of the private sector in development, public policy, development finance, and financial and operational risk on a global scale.
  • Excellent oral and written professional proficiency in English and Spanish required; proficiency in Portuguese and/or French is a plus.

Leadership Competencies:

Leading Change: Accelerates organizational transformation through the management of change and support for employee innovation and excellent service.

Building Engagement and Commitment:  Develops engagement and commitment by setting challenging goals, acknowledging employee efforts, creating involvement and participation, hearing multiple perspectives and driving a unified approach.

Acting Strategically to Deliver Results:  Delivers results for the clients and the IIC that ensure sustainability and support the organization’s strategy, mission, and vision for private sector development.

Developing People & Teams to Deliver Results:  Builds talent and capability inside the IIC through coaching, mentoring, training, work assignments, and knowledge-sharing.

Quality and Efficiency:  Creates and/or implements standards of excellence for products and services ensuring consistency, accuracy, reliability, and efficiency.  Continuously seeks new ways to make processes run smoother and faster to enhance outcomes.

Promoting Gender and Racial Equality Diversity & Inclusion:  Ensures a diverse environment and actively works to build, coach, and empower teams with diverse backgrounds (i.e. gender, ethnic origin, disability, sexual orientation, background, perspective).


The IIC General Manager will be subject to the IIC Personnel Policies and to the IIC’s Code of Ethics and Professional Conduct.

Individuals with relatives working for the IIC within and including the fourth degree of consanguinity and the second degree of affinity are not eligible.  Applicants must be a citizen of one of the IIC Member Countries (www.iic.org/en/countries).

The IIC offers a competitive benefits & compensation package, including relocation expenses (if applicable).

The IIC is committed to diversity and inclusion and to providing equal opportunities in employment, embracing diversity on the basis of gender, age, education, national origin, ethnic origin, race, disability, sexual orientation, religion, and HIV/AIDs status.  Women, Afro-descendants and persons of Indigenous origins are encouraged to apply.


Interested candidates should send a letter of interest and updated CV to IIC.GMsearch@egonzehnder.com .
  Please include country of nationality.

Deadline for applications:  June 1, 2015