Private Sector Integrity and Compliance Specialist

The IDB’s Office of Institutional Integrity (OII) is seeking a dynamic and highly motivated Private Sector Integrity and Compliance Specialist to play a key role in carrying out the integrity oversight function for the IDB Group’s private sector operations. The selected candidate will also support developing and implementing mechanisms for managing integrity risks in private-sector operations.

OII plays a key role in leading the IDB Group’s integrity efforts. The office is responsible for investigating information in connection with prohibited practices (i.e., fraud, corruption, collusion, coercion, misappropriation, and obstruction of investigations) in IDB Group-financed activities, as well as conducting prevention activities designed to identify and manage the risk that prohibited practices or similar misconduct may occur in IDB Group operations. Additionally, OII supports IDB Invest (the private sector arm of the IDB Group) by overseeing compliance with the applicable Integrity Framework and Integrity Due Diligence Procedures on a project-by-project basis. The key elements of Integrity Due Diligence include: (i) a know-your-customer review of all IDB Invest clients and relevant entities; (ii) an assessment of the Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) systems of all financial institution clients; and (iii) an assessment of tax-related risks presented by cross-border corporate structures used by proposed IDB Invest clients. 

In addition to these responsibilities, OII leverages technology to facilitate the identification, assessment, mitigation, and monitoring of integrity risks within the organization. This ensures adherence to regulations and ethical standards while enhancing the effectiveness of the integrity management framework.

What you’ll do: 

• Provide expert advice to IDB Invest staff regarding managing integrity risks in specific operations with private sector entities. This advice will encompass:
• monitoring compliance with IDB Invest procedures regarding Integrity Due Diligence (IDD) and related matters.
• advising teams regarding the identification and assessment of specific integrity risks identified through IDD.
• developing approaches for mitigating identified integrity risks (e.g., implementing anti-corruption compliance programs, devising contractual triggers, and mitigating actions).
• aking the lead in conducting the more technical elements of IDD, specifically: (i) assessing the adequacy of AML/CFT systems in financial institutions and (ii) assessing the risks (generally tax-related) presented by the use of cross-border corporate structures by potential clients.
• Advise IDB Invest regarding potential actions and alternatives when integrity risks manifest in connection with specific counterparties or operations.
• Draft disclosure language to be included in project documents submitted to senior management and the IDB Invest Board.
• Support the legal department and operational divisions in the negotiation and drafting of contractual provisions related to integrity issues.
• Manage a database of consultations received and advice provided.
• Assist in improving integrity risk management systems, including IT systems.
• Assist in delivering greater value to IDB Invest and its clients by developing broadly applicable integrity risk management products.
• Conduct complex research and analysis regarding issues relevant to OII’s prevention function (e.g., specific corporate entities, anti-money laundering regulations, or developing international tax transparency standards.)
• Liaise with other IFIs on integrity matters.
• Review best practices and recent developments in the substantive elements of IDD and apply those lessons to current operations and systems.
• Support the development of protocols, manuals, and guidance for conducting integrity due diligence ensuring compliance with internal policies and procedures.
• Assist in the digitalization efforts by collaborating with stakeholders to identify opportunities, implement solutions, and provide support for optimizing due diligence processes.
• Provide technical guidance to junior employees.
• Complete all tasks in accordance with the highest standards of integrity, quality, timeliness, and objectivity.

Candidates who meet these criteria will be well-equipped to handle the responsibilities of the role, which demands a mix of technical proficiency, analytical capabilities, and strong communication skills in a multilingual environment.

• Education: Master´s degree (or equivalent advanced degree) in law, compliance, business administration/management, finance, or a related field.
• Experience: Integrity Due Diligence at the IDB Group combines several disciplines.  Candidates should have 4 years of combined professional experience that is relevant to the functions described above, with a preference for experience in one or more of the following areas:

• Anti-corruption compliance/oversight, with weight given to experience in assessing and/or implementing anticorruption compliance programs.
• Anti-money laundering compliance/oversight, with weight given to experience in assessing and/or designing AML/CFT compliance programs.
• Cross-border tax minimization strategies, with weight given to experience in creating or assessing cross-border tax optimization structures.
• Compliance/oversight function in an international institution context.  Experience in other compliance or oversight functions in the context of an international institution.
• Languages: Proficiency in English and one of the other Bank official languages (Spanish, French or Portuguese) is required.

Source: https://iadbcareers.referrals.selectminds.com/jobs/private-sector-integrity-and-compliance-specialist-6128