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 FIDD strategy in support of ICD’s goals and in response to emerging trends or client/customer needs
- Develop, implement and monitor the FIDD’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 FIDD to increase its impact, encouraging Department members to fully contribute
- Provide inputs and recommendations to the management on appropriate FIDD strategy and governance of ICD to maximize economic return against business goals
- Coordinate and interface with other Departments in order to obtain buy-in to the FIDD management approach and implementation of the strategy
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FIDD Policies, framework, Processes and Procedures
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- Define and manage the FIDD policies and procedures in order to enable proactive FIDD management within the context of a dynamic operational environment, shariah compliance norms and best practices
- Guide the development of FIDD Processes, Models, Templates, decision making frameworks etc. in order to embed FIDD management into the investment process and support implementation
- Monitor the adherence to procedures, methodologies, approach and systems used in FIDD 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 FIDD budgeting cycle and lead the budgeting process in conjunction with organizational budget
- Ensure effective utilization of FIDD budget, and report accurately on progress made and challenges encountered
- Investigate and propose implementing strategies that result in positive financial impact for ICD
- Direct FIDD 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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Providing Lines of Finance
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- Enhance ICD reach to small and medium enterprises (SMEs) in member countries by providing lines of finance to local financial institutions.
- Develop new financing products that meet the requirements of the SMEs and financial institutions.
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Developing Financial Channels
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- Improve ICD reach and financial inclusion by entering new markets and expanding client base to cover new channels such as Islamic banks, Ijara companies, Islamic mortgage companies, Islamic microfinance institutions, investment companies and other entities that can channel ICD financing to the private sector
- Develop new means and products to meet the requirements of ICD and its clients.
- Improve and strength Small and Medium Enterprise’s (SME) access to financing in member countries and ensuring such initiatives generate the needed developmental impact and ROI maximization for ICD
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Sourcing
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- 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
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Transaction Acceptance and Processing:
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- 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
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Portfolio Management
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- Manage disbursement of approved transactions and liaise with finance and other relevant internal and external parties to ensure timely deployment of funds.
- Ensure the ICD funds are appropriately allocated and channeled to the most attractive FIs and overseeing the evaluation of project funding, thereby ensuring high quality standards
- Manage all on-going equity investments using research, investment and valuation models and reporting the results to the management recommending corrective measures if needed
- Ensuring that the project implementation is carried out by the FIs in accordance with the Investment agreement and under the development objective framework
- Manage collections and regular reporting on outstanding portfolio
- Ensure compliance with covenants and other relevant terms specified in financing agreements
- Identify any problems and work out, negotiation, clear and implement limited restructuring solutions in exceptional circumstances
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Monitoring & reporting
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- Submit periodic FIDD reports to Management highlighting performance against FIDD parameters and overall FIDD positions
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Stakeholder Relationship management
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- Develop and maintain effective internal and external relationships through individual contacts and meetings
- Represent the FIDD in internal and external meetings and committees
- Share FIDD information with all business managers to build FIDD management knowledge and enable them to use this knowledge to benefit their business decisions
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Performance
& people management
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- Participate in the identification and recruitment of key talent for FIDD
- Provide motivational and inspirational leadership for the FIDD, and communicates to Division Managers clear performance expectations
- Manage the performance and resources of the FIDD 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
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