IDB2223 - Director, Direct Investment and Financing Department (ICD)

Business Unit: ICD - Islamic Corporation for Development

Division: Not Applicable

Department: Direct Investment & Financing

Country: Saudi Arabia

Location: Saudi Arabia - Jeddah

Closing date: 12-Dec-2018

Role Purpose:

This role is responsible for the origination and management of ICD's equity and term finance portfolios in accordance with ICD credit and investment policies and guidelines and overall risk appetite and return targets, and with an eye towards maximizing the developmental impact of ICD’s financial interventions in its member countries. The Director overseas and manages a team of division managers and investment officers and analysts and provides direction and guidance when required on matters relating to the origination, evaluation, structuring, execution and monitoring of transactions in which his staff are involved.

KEY ACCOUNTABILITIES & ACTIVITIES:

KEY ACCOUNTABILITIES & ACTIVITIES
Key Accountabilities	Key Activities
Strategy development and business planning	Lead the formulation, development and implementation of the DIFD strategy in support of ICD’s goals and in response to emerging trends or client/customer needs Develop, implement and monitor the DIFD’s business plans, KPIs budgets and objectives; provide regular management reports that include insight, analysis, forecasting and comment on Department performance and results Identify opportunities and champions initiatives that enable the DIFD to increase its impact, encouraging Department members to fully contribute Provide inputs and recommendations to the management on appropriate DIFD 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 DIFD management approach and implementation of the strategy
DIFD Policies, framework, Processes and Procedures	Define and manage the DIFD policies and procedures in order to enable proactive DIFD management within the context of a dynamic operational environment, shariah compliance norms and best practices Guide the development of DIFD Processes, Models, Templates, decision making frameworks etc. in order to embed DIFD management into the investment process and support implementation Monitor the adherence to procedures, methodologies, approach and systems used in DIFD 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
Budget	Oversee DIFD budgeting cycle and lead the budgeting process in conjunction with organizational budget Ensure effective utilization of DIFD budget, and report accurately on progress made and challenges encountered Investigate and propose implementing strategies that result in positive financial impact for ICD Direct DIFD 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
Developing Financial Channels	Improve ICD 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.
Sourcing	Leads the effort to source and originate transactions that fall within the mandate of the Department Formulate, obtain approval and implement client origination and sourcing strategy 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 Periodically discuses pipeline and appraising them with the progress on projects under the approval and disbursement stage
Transaction Acceptance and Processing:	Oversee the Coordination with relevant units for compliance and KYC (Know Your Customer) check of prospective clients Ensure that financing and equity investment applications are processed as per ICD's policies and guidelines Process and present financing proposals to the Investment Committee (IC) and ExCom through Risk Management (RMD), Legal and Shariah review Negotiate with the client and finalizing transaction terms and conditions Manage the process of Conducting commercial due diligence of the client Supervise the coordination with the Legal Department in ensuring legal documentation is prepared as per the transaction structure, duly executed and the facility is declared effective for disbursement
Portfolio Management	Overseas the evaluation, structuring and execution of transactions Manage disbursement of approved transactions and liaise with finance and other relevant internal and external parties to ensure timely deployment of funds. Manage all on-going equity investments using research, investment and valuation models and reporting the results to the management recommending corrective measures if needed Manage collections and regular reporting on outstanding portfolio Ensure compliance with covenants and other relevant terms specified in financing agreements
Monitoring & reporting	Submit periodic DIFD reports to Management highlighting performance against DIFD parameters and overall DIFD positions Identify any problems and work out, negotiation, clear and implement limited restructuring solutions in exceptional circumstances Develops and maintains and ensures compliance with a suitable asset management framework for the Department Provides quality assurance on deliverables and internal documentation and reports used for internal credit/investment processing purposes
Stakeholder Relationship management	Develop and maintains working relations with partners and relevant stakeholders including regional and international financial institutions and investors, in addition to other stakeholders including developers, government officials, advisors, etc. Represent the DIFD in internal and external meetings and committees Share DIFD information with all business managers to build DIFD 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 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 Maintaining continual relationship with the clients for monitoring on-going facilities
Performance & people management	Participate in the identification and recruitment of key talent for DIFD Provide motivational and inspirational leadership for the DIFD, and communicates to Division Managers clear performance expectations Manage the performance and resources of the DIFD through delegation of responsibility, setting stretch 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

Experience:

15 years of experience in banking environment / financial institutions, preferably in a Shariah context, with at least 5 years of experience in a senior position
International experience exposure - work abroad (familiar with working across borders). Experience in ICD member countries highly desirable
A deep transnational exposure in corporate and project finance as well as corporate equity, preferably in a similar international financial institution.
Having an exposure in Islamic Finance is highly desirable.

Qualifications:

A master’s degree in finance, MBA or similar discipline

A certificate in Financial Analyst (CFA) , Management Accounting (CMA) , Certified Public Accountant (CPA ) or any relevant professional certifications are a plus.

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