Senior Investment Officer - Africa region
| Job #: |
req25921 |
| Organization: |
IFC |
| Sector: |
Investment |
| Grade: |
GG |
| Term Duration: |
3 years 0 months |
| Recruitment Type: |
International Recruitment |
| Location: |
Lusaka,Zambia; Douala,Cameroon; Kinshasa,DRC |
| Required Language(s): |
English |
| Preferred Language(s): |
French |
| Closing Date: |
2/8/2024 (MM/DD/YYYY) at 11:59pm UTC |
Description
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record US$43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
IFC has embarked on an ambitious new strategy to stimulate more investment activity by Creating Markets, including in Low Income Countries (LICs) and Fragile and Conflict Situations (FCS). This new strategy requires a shift in our approach to proactively create, deepen and expand markets and projects rather than waiting for clients to propose projects for IFC to finance. This strategy also relies on upstream work with Governments and World Bank colleagues to enable private sector solutions and financing. We call this approach the “Cascade.” Working with clients, we will first seek private sector solutions to address development challenges, where such solutions are advisable and can be effective, and reserve public financing for projects only when other options are suboptimal.
The Financial Institution Group (FIG) is one of IFC’s key Departments responsible for a significant portion of IFC’s business volume, profitability and development reach, approximately 40%. FIG engages in a wide range of sub-sectors including Microfinance, SME, Gender, Climate, Insurance, Capital Markets, Housing, Distressed Assets, and other areas, with both investment and advisory services delivered globally to IFC’s clients through IFC’s global network. FIG has three main objectives: 1) financial inclusion; 2) servicing the real economy; and 3) mobilizing third-party resources. The goal is to develop efficient financial systems that will increase financial inclusion and fuel economic growth in client countries and enhance IFC’s developmental impact.
FIG Africa is based across the continent with main hubs and offices in Kenya, Morocco, Nigeria, Senegal, and South Africa and is recruiting Senior Investment Officers (“SIO”) with good local market and industry experience to join the investment team, which originates, manages and monitors IFC’s financial sector investments, including investments that support the institutions’ regional expansion across Africa. The SIO will report to the relevant FIG Regional Industry Manager and will be based either in Kinshasa, (DRC), or Douala (Cameroon) or Lusaka, Zambia.
Note: Excellent oral and written presentation skills in English is required. French would be considered a significant plus.
Duties and Accountabilities:
The duties and accountabilities of the role include but are not limited to:
• Develop a strong pipeline of good quality investment opportunities through proactive origination/business development and developing and employing sector/country knowledge.
• Build and maintain strong relationships with existing and potential FIG clients, investors, arrangers and other key stakeholders (development partners, government, World Bank) of the financial sector community to further develop the sector and to develop specific investment opportunities.
• Mobilize other investors alongside IFC.
• Engage with mid and senior-level clients of projects to understand their business directions and challenges that may lead to new opportunities, and support design of client engagement plans, as applicable.
• Lead investment transactions incorporating lessons learned from IFC’s earlier investments and portfolio management.
• Support upstream initiatives across the World Bank to unlock constraints to financial sector growth and inclusion in the region and globally.
• As team leader and sector investment specialist, evaluate, structure, negotiate, and close new transactions, portfolio restructurings, rescheduling, capital increases, equity sales, as necessary.
• Use strong negotiation skills to develop solutions and overcome impasses in complex transactions.
• Build productive and mutually beneficial relationships/networks internally and externally to identify business opportunities, discuss structuring alternatives, and resolve issues.
• Collaborate in developing client strategies/ engagement plans and pitch books for industry and countries.
• Develop innovative and appropriate financial structures for complex transactions.
• Lead term sheet negotiation/legal documentation process; use strong negotiation skills to develop solutions and overcome impasses in straightforward and complex transactions.
• Mentor and coach less-experienced staff and help build talent and grow skill base of staff.
• Coordinate closely with social, environmental, governance, and technical assistance colleagues in order to add value to our clients' businesses, find pragmatic solutions to the specific sector challenges, and achieve sustainable development impact.
• Monitor complex portfolio projects supporting value contribution and development impact to IFC’s debt and equity investment portfolio: lead active portfolio management and negotiations to maximize financial and development effectiveness results.
• Review and analyze the financial and operating performance of clients, including covenant compliance reviews and impact reporting; prepare quarterly risk ratings, annual supervision and other management reports as well as country strategy papers, briefs and project profiles.
• Responsible for rating reviews or loan loss reserve on a quarterly basis for the overall assigned portfolio and monitor changes to risk flags to determine performance of assigned portfolio with limited supervision.
• Apply knowledge of project/portfolio lifecycle to identify and meet critical path milestones, and to implement tasks (including production of documents) in a timely and high-quality fashion for the processing or supervision of projects.
• Supervise and ensure quality of portfolio reporting information prepared by junior staff, providing broader industry, sub-sector and country perspective into project risks and issues.
Selection Criteria
• Develop a strong pipeline of good quality investment opportunities through proactive origination/business development and developing and employing sector/country knowledge.
• Build and maintain strong relationships with existing and potential FIG clients, investors, arrangers and other key stakeholders (development partners, government, World Bank) of the financial sector community to further develop the sector and to develop specific investment opportunities.
• Mobilize other investors alongside IFC.
• Engage with mid and senior-level clients of projects to understand their business directions and challenges that may lead to new opportunities, and support design of client engagement plans, as applicable.
• Lead investment transactions incorporating lessons learned from IFC’s earlier investments and portfolio management.
• Support upstream initiatives across the World Bank to unlock constraints to financial sector growth and inclusion in the region and globally.
• As team leader and sector investment specialist, evaluate, structure, negotiate, and close new transactions, portfolio restructurings, rescheduling, capital increases, equity sales, as necessary.
• Use strong negotiation skills to develop solutions and overcome impasses in complex transactions.
• Build productive and mutually beneficial relationships/networks internally and externally to identify business opportunities, discuss structuring alternatives, and resolve issues.
• Collaborate in developing client strategies/ engagement plans and pitch books for industry and countries.
• Develop innovative and appropriate financial structures for complex transactions.
• Lead term sheet negotiation/legal documentation process; use strong negotiation skills to develop solutions and overcome impasses in straightforward and complex transactions.
• Mentor and coach less-experienced staff and help build talent and grow skill base of staff.
• Coordinate closely with social, environmental, governance, and technical assistance colleagues in order to add value to our clients' businesses, find pragmatic solutions to the specific sector challenges, and achieve sustainable development impact.
• Monitor complex portfolio projects supporting value contribution and development impact to IFC’s debt and equity investment portfolio: lead active portfolio management and negotiations to maximize financial and development effectiveness results.
• Review and analyze the financial and operating performance of clients, including covenant compliance reviews and impact reporting; prepare quarterly risk ratings, annual supervision and other management reports as well as country strategy papers, briefs and project profiles.
• Responsible for rating reviews or loan loss reserve on a quarterly basis for the overall assigned portfolio and monitor changes to risk flags to determine performance of assigned portfolio with limited supervision.
• Apply knowledge of project/portfolio lifecycle to identify and meet critical path milestones, and to implement tasks (including production of documents) in a timely and high-quality fashion for the processing or supervision of projects.
• Supervise and ensure quality of portfolio reporting information prepared by junior staff, providing broader industry, sub-sector and country perspective into project risks and issues.
All applications must be submitted ONLINE at : https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=25921&site=1
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