Career snapshot: An investment analyst with the World Bank Group

Knowledge of Plato, Aristotle and philosophical principles isn’t exactly applicable to Giorgio Felici’s current job running numbers and analyzing financial trends. And according to Felici, an investment analyst at the International Finance Corporation in Paris, a master’s degree in philosophy from King’s College in London wasn’t particularly useful when he applied to the position, either. “If it helped me in any way in the selection process, I’m not aware of which way,” he told Devex, laughing. The 27-year-old Italy native said his business and accounting background — a master’s in international management from Bocconi University in Milan, to be exact — was more along the lines of what IFC recruiters were seeking. IFC currently employs a total of four investment analysts in Paris and two junior investment consultants in London and Brussels. Their role is to provide the necessary background material for investment officers and managers to make a final decision on an investment in a developing country — whether to invest through a particular stakeholder such as a European bank or private sector company. IFC’s Western European team is unique in its operations. Instead of focusing directly on development projects the way IFC staff do in country offices around the globe, its focus is primarily on business development, stakeholder relations within Europe and communications. As one of two investment analysts in Paris focused specifically on the financial sector, Felici works on relationship management with some of the biggest banks in Europe. In fiscal year 2014, investments with Western European companies amounted to about $2.2 billion, representing 13 percent of all IFC investments worldwide. Similarly, syndications with Western European banks amounted to $1.5 billion, representing 48 percent of total syndications. Felici provides support on legal documentation and helps prepare briefs in addition to providing financial analysis based on private sector growth potential in-country. Still, Felici’s philosophy degree from King’s College isn’t completely irrelevant to his career growth. It was through that university’s job page where three years ago he saw a posting for an IFC intern position based in Paris with a focus on Italian markets and investors. It was through this internship that Felici got his start at the IFC, giving up a full time job as a junior trader for a London-based debt fund to take on the opportunity. Working as an intern allowed Felici to make contacts and get a sense for IFC operations, but the position was in no way a ticket to an analyst job, he said. Before he accepted the internship, human resources warned that there was no guarantee a job would be waiting for him upon its completion, he explained. An open analyst position in Western Europe will get about 400 applicants, according to Oliver Griffith, head of communications and public affairs for IFC in Western Europe. And approximately 200 will meet the overall qualifications. In other parts of the world, analyst jobs are even more competitive. In Nairobi, according to Griffith, an open analyst position will draw about 1,500 applicants. Felici was lucky that HR was looking to hire at the time he was ready to apply. A committee of specialists conducted a preliminary screening of all applicants and came up with a shortlist of candidates, then the interviewing began. “You have different profiles of people that actually interview you,” Felici said, adding that at the beginning stage in the process, his interview included someone from his department, someone from strategy and someone testing his ability to speak French. “It’s well rounded,” Felici said. “It’s never a one-on-one interview.” Initial interviews were followed by a test. The first part required applicants to conduct an analysis of a bank. Based on information provided, applicants had to find the “red flags” and recommend whether to invest in the bank. The second part of the test was a series of multiple choice questions on financing and accounting. “Generally … you need to have a pretty good understanding … of accounting,” Felici said. After the test, the applicant pool was narrowed down to about five applicants, according to Felici. A supervisor conducted one-on-one interviews with the candidates as the final stage of the process. Felici got the position, and has been working as an analyst for about two years. Most analyst positions are anchored on two to three year contracts and can generally be renewed once. Most analysts work for about four years, then face a few different options, Felici explained. Some go on to complete a Master’s of Business Administration — identified as the second most in-demand degree by recruiters polled in the “Devex Career Trends in 2015” survey. But according to Felici, those who take that route often find it difficult to return and work for the IFC. The alternative option is to go through what’s called “the panel” — a selective interview process that tests your readiness to become an associate investment officer. Once candidates make it to the investment officer stage, they generally get promoted to the next level every three or four years, Griffith said, adding that it takes about 15 years to make it to chief investment officer. Felici said that when his time comes, he plans to go through the panel. “I’d like to stick around for longer,” he said. One aspect of the job Felici appreciates is seeing IFC relationships first hand, both internally and externally. Staff based all over the world are always coming through Paris and Western Europe, he said, which is not always the case in smaller offices in developing markets. Whether you’re a seasoned expert or budding development professional — check out more news, analysis and advice online to guide your career and professional development, and subscribe to Doing Good to receive top international development career and recruitment news every week.