Portfolio Lead at International Finance Corporation (IFC)

International Finance Corporation (IFC) a sister organization of the World Bank and member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. The Bank Group has set two goals for the world to achieve by 2030: end extreme poverty and promote shared prosperity in every country.

Job Title: Portfolio Lead

Job Number: req28842
Location: Lagos
Employment Type: Full-time
Grade: GG
Sector: Investment
Term Duration: 1 year 0 months

Description

• 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 Institutions 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 a Portfolio Lead with good local market and industry experience to join the investment and portfolio team which manages and monitors IFC's financial sector investments in Central, North and West Africa.
• The Portfolio Lead will take the role of a (Senior) Investment Officer for a year and will report to the FIG Regional Industry Manager (RIM) covering Central Africa (CA).
• During the development assignment, the Portfolio Lead will be based either in Accra (Ghana), Cairo (Egypt), Dakar (Senegal), Douala (Cameroon) or Lagos (Nigeria). Other locations maybe exceptionally considered based on candidates’ profile and interests.
• Note: Excellent oral and written presentation skills in English are required. Arabic and French would be considered a significant plus.

Duties and Accountabilities
The duties and accountabilities of the role include but are not limited to:

Core portfolio Duties:

• Ensure timely, accurate and value-added monitoring and reporting on the FIG portfolio; provide early warning to RIMs for assets at risk.
• Supervise and approve regular portfolio actions as delegated by RIMs, including credit risk ratings, watchlist updates, and loan loss reserve recommendations.
• Review and analyze the financial, environmental, legal, integrity, and other requirements of clients, including covenant compliance reviews and impact reporting; quarterly risk ratings, annual supervision and other management reports as well as country strategy papers, briefs and project profiles.
• Review and provide adequate guidance and quality control of waivers and amendments, rights issues, and other ad hoc portfolio actions.
• Coordinate with special operations on restructurings and other jeopardy cases, as relevant.
• 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.
• Support the active management of the FIG equity portfolio: supervise quarterly valuation cycle, provide guidance on shareholder matters including rights issues and participate in the exit discussions.

Relationship and People Management:

• Build and maintain strong relationships with FIG portfolio clients, through regular client contact and by participating in operational reviews and other client engagements.
• 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.
• Staff portfolio projects with the appropriate teams taking into consideration technical skills, career development, and balanced workload.
• Monitor the review/analysis of the data collected by portfolio officers and analysts (POs/PAs) (completeness, consistency checks, compliance checks, etc.), identify any issues and guide the POs/PAs in proposing relevant mitigants.
• Develop training materials/tools and deliver regular trainings/refreshers for POs/PAs.
• Ensure adequate onboard for new POs/PAs
• Mentor and coach less-experienced staff and help build talent and grow skill base of staff.
• Support the recruitment, onboarding and mentoring of new team members.

Risk Sharing Facilities (RSFs) Monitoring:

• Coordinate RSF monitoring activities for the 3 regions, in close contacts with the RSF support team, FIG Global, Blended Finance, Treasury, and the Legal teams.
• Lead quarterly RSF portfolio reviews for RIMs and the Credit and Treasury teams.
• Represent FIG Africa in the relevant RSF meetings. 
• Forecast and assign workload based on existing portfolio and pipeline.
• Supervise the development and implementation of an RSF simplification project allowing productivity gains in the supervision and monitoring of RSFs for Africa.
• Develop and maintain dashboards to monitor RSF portfolio KPIs.

Knowledge Management:

• 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.
• Share lessons learned and best practices for RSF management, including with other regions.

Selection Criteria

• Master's Degree in Finance or similar relevant education; accreditation as a CFA or CPA is considered a plus. 
• Must have 10-20 years of relevant experience in the financial sector, including a solid operational understanding of commercial banks and other financial entities in Africa.
• Sound business judgment and strong problem solving/negotiation skills to identify issues and present creative, practical solutions.
• Ability to work effectively on simultaneous projects under time pressure.
• Capacity to deal with conflicting priorities and deliver high quality work on schedule; facility to work successfully in multicultural teams and across boundaries.
• Ability to build and maintain relationships with the business community and governmental authorities, as needed.
• Proactiveness, strong business development and client relationship skills, and ability to focus on client needs effectively. 
• Ability to interact directly and independently with the senior management of potential clients, financial and technical partners, as well as senior government officials.
• Ability to draft documents and reports that are concise, well-organized, and appropriately focused on most critical points that are relevant to the target audience.
• Excellent verbal and written communication skills in English.  French/Arabic will be a plus.
• Strong interpersonal skills, ability to interact effectively with clients and colleagues.
• Team player. Ability to work sensitively and effectively in a multicultural setting.
• Takes personal responsibility and accountability for timely response to client queries, requests or needs, working to remove obstacles that may impede execution or overall success.
• Willing to travel across Africa (as long as safety requirements are met based on the World Bank standards).
• Strong passion in sustainable economic development.
• Exceptional attention to detail.
• Strong research and quantitative skills.
• Strong Computer skills to develop user-friendly/punchy analyses/presentations (word, excel, and PowerPoint).
• Ability to mentor junior investment staff.

Language:

• Required: English
• Preferred: French, Arabic

Application Closing Date
18th August, 2024 at11:59pm UTC.

How to Apply
Interested and qualified candidates should:
Click here to apply online

Note: This is a Development Assignment based in Accra,Ghana or Douala,Cameroon or Cairo,Egypt or Lagos,Nigeria or Dakar,Senegal for an initial duration of 12 Month. Only Term/Open Appointment Staffs are eligible to apply for this DAIS position.