DFC staff switch jobs in reorganization

A major phase of the U.S. International Development Finance Corporation’s reorganization is complete: staff are now on new teams focused on specific sectors. In the past, staff were grouped by the type of investment they specialized in, but now, they are divided among five key sectors: infrastructure and minerals, energy, health and agriculture, small business support, and funds. Climate and inclusion will be priorities across all sectors. DFC, the U.S. development finance institution that finances private sector development solutions, has grown fast, committing $9.3 billion to 132 projects worldwide last year. The agency started a strategy review back in 2022, and in May, management unveiled plans to restructure the agency as part of it. The “realignment” was met with reticence from staff, who told Devex at the time that they were worried about how the strategy was being rolled out and how it would be operationalized. They asked for more clarity, particularly on how it would affect their jobs. DFC management conducted numerous consultations with staff and pushed back an initial start date for the job moves as part of the process. “We’ve done everything we can to try to ensure that a lot of the input was taken on board throughout the summer and into the fall on ways to shape and design the realignment and we adjusted a lot along the way based on what we heard from people,” a DFC official, who asked for anonymity to speak freely, told Devex. Management is trying to “ensure that we’re staying connected to how the workforce is feeling through this change,” the official said, adding that there are growing pains as the agency expands and adjusts to the new strategy. “It just has been a lot for everybody.” While changing the structure and staff moves are a “major” step, “this is not the end of a process,” the official said. The restructuring is part of a broader strategy and has been “coupled with a lot of thinking and analysis on what the sector teams will do, what their strategic focus will be, what opportunities we will be pursuing in the near term and going forward.” DFC has been working to build out sector strategies, refine priorities, and define a value proposition. Those strategies are being completed and should be released in the coming months. Once finalized, the agency will figure out what additional staffing, training, or partnerships are needed for each team. The discussions haven’t always been easy as the agency is making difficult decisions about what to prioritize, the official said. While staff were moved to sectors based on an analysis of what most closely aligned with their team’s expertise, they will have the opportunity to apply to other jobs at the agency as it continues to expand, the official said. Some teams will also remain separate. The political risk insurance team, which DFC wants to expand, will remain independent, as will its Mission Transaction Unit, which works closely with the U.S. Agency for International Development to provide guarantees. Staff will complete projects they started before the job moves began and transition clients for new projects if they would be better served by staff in a different sector. DFC will also inform clients about the changes and update its website with relevant information. One goal of the reorganization is to streamline operations and make it easier for clients to identify a clear point person at the agency to help them more effectively navigate the investment process.