Job Opening at International Finance Corporation
POSITION: Portfolio Lead
The largest worldwide private sector development institution in emerging nations is the International Finance Corporation (IFC), a World Bank Group member. We build markets and opportunities in over 100 countries using our resources, knowledge, and influence. We employ private sector power to reduce extreme poverty and promote shared prosperity in a livable society. Visit www.ifc.org for details.
The IFC is building markets in Low-Income Countries (LICs) and Fragile and Conflict Situations (FCS) to encourage investment. We must actively build, deepen, and expand markets and projects rather than wait for clients to submit IFC financing ideas under this new strategy. This proposal requires upstream engagement with governments and World Bank colleagues to support private sector solutions and finance. We call this technique “Cascade.” We will work with customers to find private-sector solutions to development issues when they are suitable and effective and reserve public finance for projects when other options are inadequate.
Over 40% of the IFC’s business volume, profitability, and development come from the Financial Institutions Group (FIG). FIG provides investment and consultancy services to IFC customers in microfinance, SME, gender, climate, insurance, capital markets, housing, distressed assets, and other subsectors through the IFC’s global network. FIG has three main goals: 1) Financial inclusion; 2) economic service; and 3) third-party resource mobilization. The goal is to construct efficient financial systems that boost financial inclusion, economic growth in client countries, and IFC development influence.
Duties and Accountabilities
The duties and responsibilities of the role include, but are not limited to:
Core portfolio duties:
- Ensure fast, accurate, and value-added monitoring and reporting on the FIG portfolio; alert RIMs to assets at risk.
- Monitor and approve regular portfolio actions delegated by RIMs, such as credit risk ratings, watchlist updates, and loan loss reserve recommendations.
- Review and assess customers’ financial, environmental, legal, integrity, and other requirements, such as covenant compliance reviews and impact reporting; quarterly risk ratings, annual supervision and other management reports; and national strategy papers, briefs, and project profiles.
- Review and give appropriate direction and quality control for waivers and amendments, rights concerns, and other ad hoc portfolio actions.
- Coordinate with special operations on restructurings and other jeopardy instances, as needed.
- Monitor complicated portfolio projects that provide value and effect to the IFC’s loan and equity investment portfolio.
- Lead active portfolio management and negotiations to achieve the best financial and development results.
- Support active management of the FIG stock portfolio by supervising the quarterly valuation cycle, providing recommendations on shareholder topics such as rights issues, and participating in exit negotiations.
Relationship and Personnel Management:
- Build and maintain good connections with FIG portfolio clients by communicating with them regularly and participating in operational reviews and other activities.
- Collaborate collaboratively with social, environmental, governance, and technical assistance colleagues to provide value to our client’s businesses, identify practical solutions to sector-specific challenges, and achieve sustainable development impact.
- Staff portfolio projects with appropriate teams, taking into account technical talents, professional advancement, and a balanced burden.
- Monitor the review/analysis of data acquired by portfolio officers and analysts (POs/PAs) for completeness, consistency, and compliance, identify any issues, and guide the POs/PAs in providing necessary mitigations.
- Create training materials/tools and provide frequent training/refresher sessions for POs/PAs.
- Ensure proper onboarding for new POs and PAs.
- Mentor and coach less experienced employees to help them develop talent and expand their skill set.
- Support the recruiting, onboarding, and coaching of new team members.
Monitoring of risk-sharing facilities (RSFs)
- Coordinate RSF monitoring activities throughout the three regions, working closely with the RSF support team, FIG Global, Blended Finance, Treasury, and Legal teams.
- Lead the quarterly RSF portfolio evaluations for RIMs, Credit, and Treasury teams.
- Represent FIG Africa at the relevant RSF meetings.
- Forecast and assign workload based on the current portfolio and pipeline.
- Supervise the development and implementation of an RSF simplification project for Africa, which will result in increased productivity in RSF supervision and monitoring.
- Create and manage dashboards for monitoring RSF portfolio KPIs.
Knowledge Management
- Apply project/portfolio lifecycle expertise to identify and meet critical path milestones, as well as to complete tasks (including document generation) on time and to a high standard for project processing or oversight.
- Share lessons learned and best practices for managing RSFs, including with other areas.
Selection Criteria:
- A master’s degree in finance or a related field of study is required; CFA or CPA certification is preferred.
- At least 10–20 years of relevant experience in the financial sector, including a thorough grasp of commercial banks and other financial institutions in Africa.
- Strong business judgment and problem-solving/negotiation skills are required to recognize challenges and provide creative, realistic solutions.
- Ability to work efficiently on multiple projects at once under time constraints.
- Capability to deal with competing objectives and deliver high-quality work on time; ability to operate well in multicultural teams and across borders.
- Ability to establish and maintain relationships with the corporate community and government officials as needed.
- Proactiveness, strong business growth, customer connection abilities, and the ability to efficiently address client demands.
- Capability to connect directly and independently with senior management of potential clients, financial and technical partners, and senior government authorities.
- Ability to create brief, well-organized documents and reports that are suitably focused on the most important topics pertinent to the target audience.
- Excellent oral and written communication abilities in English. French/Arabic will be beneficial.
- Strong interpersonal abilities, including the ability to communicate successfully with clients and colleagues.
- A team player. Ability to work sensitively and successfully in a multicultural environment.
- Willing to travel across Africa (as long as safety measures meet World Bank standards).
- Strong interest in sustainable economic development.
- Excellent attention to detail.
- Excellent research and quantitative capabilities.
- Strong computer abilities are required to create user-friendly/punchy analyses/presentations (using Word, Excel, and PowerPoint).
- This Development Assignment is for 12 months and will be headquartered in Accra, Ghana, Douala, Cameroon, Cairo, Egypt, Lagos, Nigeria, or Dakar, Senegal. The role involves mentoring younger investment professionals. Only Term/Open Appointment Staff may apply for this DAIS post.
World Bank Group’s Core Competencies
The World Bank Group provides extensive benefits such as a retirement plan, medical, life, and disability insurance, paid leave (including parental leave), and reasonable accommodations for those with impairments.
We are delighted to be an equal opportunity and inclusive company with a focused and engaged team. We do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or handicap.
Learn more about working for the World Bank and IFC, including our values and inspiring tales.
How to Apply for this Job at International Finance Corporation
Closing Date: August 17, 2024
NOTE:
It is important to keep in mind that employers receive many applications for each job posting and will only select the most qualified candidates. Furthermore, NewsNowGh does not have any influence over the decisions made by employers/recruiters. As a result, we cannot guarantee that sending applications will lead to candidates being shortlisted or selected for a particular position.
RECOMMENDED
- FIRSTLY, MASSIVE JOB RECRUITMENT AT LMI HOLDINGS
- SECONDLY, THE JOB ADVERTISEMENT AT STERLING INTERNATIONAL SCHOOL
- THIRDLY, JOB OPENING AT CUMMINS AFRICA MIDDLE EAST
- MOREOVER, PWC CAREERS AFRICA INVITES JOB APPLICATIONS
- FURTHERMORE, MASSIVE JOB RECRUITMENT AT GHANA CHRISTIAN INTERNATIONAL HIGH SCHOOL
- THEN, JOB OPENING AT COMPETENCY SCHOOL OF BUSINESS ADMINISTRATION
- ALSO, JOB ADVERTISEMENT AT WEST AFRICA CIVIL SOCIETY INSTITUTE (WACSI)
- ADDITIONALLY, JOB VACANCY AT KINTAMPO HEALTH RESEARCH CENTRE (KHRC)
- AFTERWARD, EXCITING CAREER OPPORTUNITY AT ABSA BANK
- FINALLY, JOB OPENING AT GIU INTERNATIONAL CHRISTIAN