Location

Post of duty: Washington, District of Columbia, USA.

We improve lives

IDB Invest is the private sector arm of the IDB Group and an international financial institution committed to addressing the development needs of Latin America and the Caribbean. Our mission is to support sustainable enterprises and projects that deliver financial results while maximizing social and environmental impact in the region. 

IDB Invest operates in 26 countries, structured across four geographic regions and three industry verticals: Infrastructure and Energy, Financial Intermediaries, and Corporates. 

In support of a new transformative business model “Originate to Share” our shareholders recently approved a $3.5 billion capitalization. This will allow IDB Invest to significantly scale up its investments, nearly doubling annual financing from approximately $8 billion to $19 billion, and unlocking greater private sector participation to drive development and climate impact across the region.

About this position

We are searching for a senior attorney and compliance professional for the position of Compliance Director, leading the IDB Invest Compliance functions in the Legal Department, focusing on the substantive areas referenced below.

Our Legal Department advises Management, the Board of Executive Directors and the Board of Governors on all legal matters relating to IDB Invest. As part of its functions, the Legal Department provides a full range of legal support on non-sovereign guaranteed operations throughout the entire transaction cycle, including origination, portfolio management, and workouts, and the development of new products. Also, we provide legal advice on all institutional and financial matters for IDB Invest, including governance, financial management, institutional integrity and administration of human resources.

The Compliance Director leads IDB Invest’s enterprise-wide compliance function in relation to the non-financial risks referenced below, safeguarding institutional integrity across operations and corporate activities while enabling responsible business outcomes in Latin America and the Caribbean. The role sets strategy, standards, and controls; provides high-level advisory; and partners with business, legal, risk, corporate governance, and integrity functions to prevent and mitigate compliance risks in line with international best practices and IDB Invest’s values. The Compliance Director reports to the General Counsel, with functional reporting to the Managing Director for the Institutional and Corporate Affairs Legal Team.

What you’ll do

As Compliance Director, the following will be your key responsibilities to: 

• Lead, manage, mentor and assess a highly skilled, interdisciplinary and multi-cultural group of attorneys and compliance professionals in the delivery of the services described herein ensuring consistent compliance advice to client areas, fostering a culture of innovation, accountability, and regional impact, and setting work expectations and goals, and providing timely feedback on performance.
• Serve as a strategic advisor on compliance matters, providing expert guidance to senior management and cross-functional teams to inform decision-making and organizational direction providing support regarding a wide range of legal, regulatory, policy, procedures, administrative and institutional matters related to non-financial risks in private sector and non-sovereign guaranteed operations. 
• Oversee IDB Invest’s operational conflicts of interest framework, advising on the identification and management of, and development of solutions to mitigate, conflicts of interest in IDB Invest operations and in relation to IDB Group operations, acting as the designated Conflicts Office for IDB Invest. 
• Oversee IDB Invest’s Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework, providing strategic guidance to senior management and internal teams on AML/CFT and economic sanctions risks.
• Design, implement, and oversee IDB Invest’s framework for the management of Material Non-Public Information (MNPI) to ensure compliance with applicable laws, regulations, and internal policies.
• Advise senior management and internal teams on nominee directorship program of IDB Invest, in collaboration with the Corporate Governance and the Equity & Mezzanine teams. 
• Coordinate closely with legal, corporate governance, and the Office of Institutional Integrity to ensure alignment between compliance and institutional requirements, legal frameworks, and integrity and reputational safeguards.
• Mobilize and coordinate technical support for advisory services, oversee the drafting, review, and quality assurance of key deliverables, leading the execution of the compliance related technical cooperation facilities.
• Support supervision teams to guarantee the effective implementation of mitigation measures and value-added solutions in projects and programs of significant scope.
• Share knowledge within and outside the Legal Department, including through the design and implementation of a risk-based compliance training program to support the prevention and management of non-financial risks and foster the application of best practices.
• Keep abreast of trends in legal and compliance issues and precedents across IDB Invest member countries and make recommendations for standardized approaches and updated strategies.
• Serve as IDB Invest’s liaison with the Office of Institutional Integrity and the Office of Ethics, including by acting as a focal point for the definition and implementation of the services described in the respective SLAs.
• Represent the Legal Department in management committees, meetings of the Board of Executive Directors and institutional initiatives.
• Liaise and benchmark with other multilateral development institutions in relation to the non-financial risks described herein, representing IDB Invest in high-level forums, committees, and strategy meetings.
• In coordination with the ICL Managing Director, manage relationships with external legal counsel; supervise the selection and activities of external legal counsel retained to support compliance matters in a cost-effective manner.
• Support the ICL Managing Director in the annual resources planning for ICL, including budget, and ensure an appropriate execution throughout the year, in alignment with IDB Invest’s business plan and strategies.

What you'll need

• Education: An advanced Law degree (Juris Doctor, LL.M. or equivalent) from an accredited law school in an IDB Group (IDBG) member country, and admission to practice law in at least one jurisdiction in an IDBG member country.

• Experience: At least 10 years of experience as senior attorney and compliance professional, preferably 15 years of relevant and progressive substantive experience working in international law firm, regulated financial institution, or International Financial Institution (IFI), covering cross-border securities/financial regulation; conflicts of interest; AML/CFT; fraud/corruption; and compliance program design/implementation. Experience in financial markets and/or emerging markets is a plus. Must possess a strong understanding of client needs and challenges as well as deep knowledge of the legal and compliance environments within each of the different countries where IDB Invest conducts business. Prior experience acting in a similar role in a development bank, and an understanding of the operational frameworks of public sector and/or multilateral institutions (including their special governance, mandates, safeguards, and oversight mechanisms and administrative sanctions procedures) is highly desirable. 

• Language Skills: Excellent oral and written professional proficiency in English and Spanish is required. Knowledge of Portuguese and/or French is a plus.

Requirements

• Citizenship: There are no requirements.

• Consanguinity: You have no family members (up to the fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB, IDB Invest, or IDB Lab.
   

Type of contract and duration

• International staff contract, 36 months initially, renewable upon mutual agreement. 

What we offer

The IDB Group provides benefits that respond to the different needs and moments of an employee’s life. These benefits include:

Our culture