KEY ACCOUNTABILITIES & ACTIVITIES
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Key Accountabilities
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Key Activities
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Strategy development and business planning
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- Lead the formulation, development and implementation of the Asset Management Department strategy in support of ICD’s goals and in response to emerging trends or client/customer needs based upon target countries, products, sectors and developmental goals aligned with overall strategic direction.
- Develop, implement and monitor the annual Asset Management Department’s business plans, KPIs budgets and objectives; provide regular management reports that include insight, analysis, forecasting and comment on Department performance and results
- Setting up funds in line with ICD's strategic priorities, identifying investors, setting fund objectives and structuring the same
- Identify opportunities and initiatives that enable the Asset Management Department to increase its impact.
- Provide inputs and recommendations to the management on appropriate Asset Management Department strategy and governance of ICD to maximise economic return against business goals
- Coordinate and interface with other departments in order to obtain buy-in to the Asset Management Department management approach and implementation of the strategy
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Asset Management Policies, framework, Processes and Procedures
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- Define and manage the Asset Management Department policies and procedures in order to enable proactive Asset Management within the context of a dynamic operational environment, shariah compliance norms and best practices
- Develop standard procedures and methodology for the entire gamut of asset management activities starting from declaring the fund objectives, identifying investors, structuring the fund and overseeing its day-to-day performance
- Guide the development of Asset Management Department Processes, Models, Templates, decision making frameworks etc. in order to embed Asset Management into the investment process and support implementation
- Monitor the adherence to procedures, methodologies, approach and systems used in Asset Management throughout ICD and takes corrective action as necessary
- Stimulate subordinates and contributes to the identification of opportunities for continuous improvement of systems, processes and practices taking into account leading practices, improvement of business processes, cost reduction and productivity improvement
- Oversee communication of the policies to all departments and ensure that the policy is cascaded down through internal audit reports.
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Budget
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- Oversee Asset Management Department budgeting cycle and lead the budgeting process in conjunction with organizational budget
- Ensure effective utilization of Asset Management Department budget, and report accurately on progress made and challenges encountered
- Investigate and propose implementing strategies that result in positive financial impact for ICD
- Direct Asset Management Department effectively within budget, track expenses and ensuring adherence, and report accurately on progress made and challenges encountered,
- Prepare, submit and justify budget enhancement requests to the CEO
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Developing Financial Channels
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- Improve ICD’s reach and financial inclusion by entering new markets and expanding client base to cover new channels
- Develop new means and products to meet the requirements of ICD and its clients.
- Organizing road shows in coordination with the regional offices department to market the funds effectively among potential investors to maximize fund corpus
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Sourcing
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- Lead efforts to source and originate transactions that fall within the mandate of the Department
- Collaborate with the regional offices department effectively to identify investors for fund creation, as well as investment opportunities for fund deployment
- Formulate, obtain approval, develop and launch sector or industry specific funds based upon target countries, products, sectors and developmental goals aligned with overall strategic direction
- Manage the sourcing of relevant transactions as per the strategy and business plan of the department
- Source and manage relationships with existing clients, governments, sovereign entities, regulatory bodies, investors and project sponsors, investment targets, etc. for fund raising as well as investment opportunities and deal pipeline
- Periodically discuses funds’ pipeline and updating them with the progress on each projects/funds under the approval and disbursement stages on its criteria and mandate
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Transaction Acceptance and Processing:
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- Oversee coordination with relevant units for compliance and KYC (Know Your Customer) check of prospective fund managers, sponsors and investors
- Ensure that funds’ approvals are processed as per ICD's policies and guidelines
- Process and present new fund establishment proposals to the investment committee (IC) and ExCom through Risk Management (RMD), Legal and Shariah review
- Manage negotiation processes with proposed fund managers and other sponsors covering fund’s terms and conditions and ICD’s ongoing support to the fund
- Manage the process of conducting commercial due diligence on the fund manager and other sponsors, as appropriate
- Supervise coordination with the Legal Department for legal review of the funds’ and fund managers’ term sheets and constitutive and other documentation to ensure that all legal documents are prepared as per the agreed heads of terms.
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Funds’ Establishment & Management
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- Launch and establish a range of customized investment funds mainly in the following domains: Income generating fund, SME fund, and private equity funds across member countries in line with ICD financing and investment strategy
- Managing end-to-end fund establishment activity including conceptualizing the funds, obtaining approvals from the ICM for setting up funds, establishing partnerships with select fund manager, fund raising, funds deployment, post investment monitoring and liquidation of the funds at maturity
- Supervise development of investment structures, investment policy and guidelines, standard operating procedures, compliance frameworks, fundraising strategies and plans, fund’s and fund manager’s terms, etc.
- Ensure that all asset management activities are carried out in line with the funds’ objectives, ICD's overall risk and investment guidelines, and as per the parameters finalized during the Investment Committee meetings
- Set up fund management arrangement, meeting all funds operational requirements
- Arrange seed capital from ICD (affecting disbursement, as and when required), marketing the funds to investors, manage investor relations for funds, monitoring and reporting funds’ performance
- Manage and monitor, as the case may be, the financial targets, budget, finances, quality of service to internal and external clients,
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Funds Monitoring & reporting
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- Conduct quarterly Performance Review of funds to ensure asset allocation and overall operations are as per the funds’ respective investment policies and are aligned to overall ICD strategy, business plan and objectives
- Report performance of funds periodically to all stakeholders
- Monitor fund performance and planning and formulating exit strategies to maximize fund performance
- Periodically declaring fund performance insights to stakeholders and driving high investor return
- Submit periodic Asset Management reports to Management highlighting performance against Asset Management parameters
- Identify any problems and work out, negotiate, clear and implement limited restructuring solutions in exceptional circumstances
- Develop, maintain and ensure compliance with a suitable asset management framework
- Provide quality assurance on deliverables and internal documentation and reports used for internal credit/investment processing purposes
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Stakeholder Relationship management
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- Develop stakeholder relationship strategy aligned with overall ICD strategic direction
- Develop business relationships and conduct periodic networking exercise with key parties in the private sector, including but not limited to the relevant financial institutions, corporate entities, key strategic partners, sponsors, fund management partners, government entities, regulatory bodies, project partners, target companies, investee companies, etc.
- Maintain ongoing relationships with investors and fund managers with the objective of continual monitoring of each fund’s performance, post investment monitoring of investment portfolio, and developing new industry or sector specific funds
- Share Asset Management Department information with all business managers to build Asset Management Department management knowledge and enable them to use this knowledge to benefit their business decisions
- Represent the Department in the management and investment committee meetings
- Serve as a board member on fund managers’ and in investee company boards (as applicable) or recommends suitable representation for the same.
- Manage internal communication and collaboration with other departments and ensures support functions are available to facilitate departmental work
- Participate and provide inputs to various Control and Action/Advisory committees, as applicable to the role
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Performance
& people management
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- Participate in the identification and recruitment of key talent for Asset Management Department
- Provide motivational and inspirational leadership for the Asset Management Department, and communicates to Division Managers clear performance expectations
- Manage the performance and resources of the Asset Management Department through delegation of responsibility, setting strategic objectives and providing regular feedback on results at a department and division level, promptly addressing areas of underperformance
- Monitor and assess the skills and capabilities of the Department, and determine the actions needed to increase the department’s impact or to resolve capability gaps
- Coach, mentor and develop the division managers and the top talent/high potentials in the Department; succession plan for key roles
- Act as a role-model to communicate to department members ICD’s values and leadership competencies; provides direction and support in times of change
- Promote a high-performance working environment and promote ICD's values
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