IDB2393 - Director Islamic Financial Sector Development

Business Unit: Country Programs Complex
Division: Not Applicable
Department: Islamic Financial Sector Development
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 16-Jan-2020

Role Purpose:

To provide leadership in developing and supervising the implementation of the bank’s strategy, action plans and global work programs in the area of Islamic Financial Sector Development in relation to Islamic Technical assistance & advisory to member countries and non-member countries, Investments in Islamic Financial Institutions and Islamic microfinance institutions, origination of Awqaf investments, liaison with Islamic infrastructure institutions (AAOIFI, IFSB etc.)

 

Set strategic priorities across the Country Programs Complex for Islamic Financial Sector Development with the aim of ensuring that operational activities contribute effectively and efficiently to the Bank’s mission and vision and strategy, while reflecting client needs.

Key Accountabilities & Activities:

  • % implementation of the annual Islamic Financial Investment and advisory plan
  • Development and execution of an Islamic Finance Sector Strategy
  • Development and execution of new initiatives for the Islamic Finance Sector
  • % of projects that involve reinforcement developers
  • Achievement of investment targets (return metrics, exits) on IFI portfolio
  • Risk adjusted return on equity investments
  • Revenue from advisory assignments
  • Number of outstanding audit findings greater than 3 months of expected implementation date

 

 

 

Roles and Responsibilities

Key Dimensions

Major Activities

  • 1-General Responsibilities

Provide Financial Sector Development insights and support for Director General Global Practices:

  • Undertakes activities in areas of Financial Sector Development, in particular Islamic Finance Sector Development, to support role for Director General Global Practices.
  • Acts as a focal point within IsDB for all programs, projects and initiatives relating `to the Financial Sector Development, particularly development of Islamic Finance Sector
  • Undertakes sector work in relation to Islamic Financial Sector Development to examine the issues, and identifies critical needs and priorities for 57 MCs and non-MCs as necessary
  • Prepares policy briefs and notes;
  • Keeps abreast of international developments and advancements in the Global Islamic Financial Sector Developments particularly across 57 MCs
  • Develops strategy across Islamic Financial Sector Development topics aligned to the relevant pillar IDBG’s 10 year strategy
  • Develops and implements strategies, policies and guidelines in the areas of Islamic Finance Advisory and technical Assistance, Financing and Investment in Financial Institutions / Infrastructure for Islamic Finance Development
  • Collaborates with other sectoral units to ensure dissemination of tailored knowledge and expertise to support preparation and implementation of IDB programs, projects, and initiatives
  • Educates Regional Hubs and respective units in IsDB’s Islamic Financial Sector Development strategy including topics such as Technical assistance, Financing Operations and Investments and ensures co-ordination and collaboration with other sectors across Global Practices Directorate.
  • Monitors emerging global practices in area of Financial Sector Development that will impact member countries and provides advisory services to all the Regional Hubs in their financing and non-financing operations for Islamic Financial Sector Development
  • Reviews overall annual and multi-year plans and oversees, suggests and supports execution of annual programs for the Islamic Financial Sector Development Global Practice Units
  • Reviews and signs off on all program, project, or initiative proposals submitted for IsDB’s financing in Financial Sector Development for overseeing the compliance with the respective sector strategies
  • Supports Director General in formulating views and adopting positions on key development challenges facing member countries in the fields of Islamic Financial Sector Development
  • Monitors and reports to the DG on the implementation of the Islamic Financial Sector Development pillar strategy and programs

     

    Oversight over operational activities, policies and standards

  • Enables high quality of entry and implementation to the Islamic Financial Sector Development projects and review and sign off on various reports in this area of Global Practice
  • Manages due diligence, implementation, and monitoring activities of IsDB programs, projects, project components, and initiatives relating to (Islamic) financial sector development in line with the Bank’s Vision, Mission, and Strategy
  • Receives, reviews and signs off on related project appraisal documents and assigns relevant sector teams for quality control of the appraisal process and provides expert guidance and assistance to the Project Team Leader in the Regional Hub
  • Represents IsDB in the committee meetings of the Awqaf Properties Investment Fund, preserves the interest of the IsDB as the asset manager of this Fund and maximize its financial and development impact
  • Acts as a focal point within IsDB for all matters raised by the external shareholders of APIF and preserves the reputation of the IsDB.
  • Ensures operational procedures are adequate and suggest changes as required to improve the current process followed by the bank
  • Contributes to the development of operational policies and standards and ensures a smooth collaboration with the ’Country Relations’ general directorate to ensure high quality of entry and implementation of projects
  • Fosters cooperation across global practice areas and consults stakeholders in order to understand and obtain feedback on improving the Bank’s operational priorities

     

    Knowledge and research

  • Provides necessary inputs to Knowledge Management and Institutional Learning Unit to ensure necessary updates and storage of key information related to Islamic Financial Sector Development
  • Represents the bank in external forums on issues related to Islamic Financial Sector Development
  • Assists Islamic Research & Training Institute (IRTI) in formulating policy research regarding Islamic Financial Sector Development to deepen understanding of key challenges relating to development in the sector
  • Aligns with the Research and Knowledge Management functions contributes with the development of publications and knowledge documents

     

    External representation and partnerships

  • Acts as key representative for the bank in external forums regarding topics related to the Islamic Financial Sector Development Global Practice
  • Endorses official missions for Managers and staff, proposes and coordinates the organization of significant IsDB flagship events
  • Supports the establishment of partnerships to foster the developers’ network in global practice areas and recommends the development and implementation of joint initiatives

 

Roles and Responsibilities

Key Dimensions

Major Activities

  • 2-Leadership responsibilities

People Management and Coaching

  • Supervises the Global Practice, aligns with the Director General for Global Practices on the overall direction
  • Ensures strong collaboration with other Global Practices and Country Relations and Services Directorate.
  • Develops partnerships with internal and external stakeholders to provide cross-functional support and act as spokesperson on all matters relating to the Islamic Financial Sector Development practice
  • Supports work of unit heads in filling key capability gaps of teams through capacity development and recruitment efforts

Experience:

  • 15 years’ experience in Islamic Finance, with at least 5 years in a senior role.

Qualifications:

  • Dimension

    Job Requirements (Essential Level)

    Job Requirements (Desired Level)

    Academic Qualifications and Background

    • Masters degree or equivalent in Engineering / Economics/ Business Administration
    • PhD in Engineering / Economics/ Business Administration or equivalent

    Languages

    • Fluent in oral and written English language
    • Fluent in oral and written Arabic and French languages will be an advantage

    Work Experience

    • 10+ years of prior relevant experience
    • 5+ years of managerial/ supervisory experience
    • 5+ years of similar experience in similar roles in Multilateral Development Bank

    Job technical Skills

    • 10 years of working experience in development of Islamic Financial Sector Development infrastructure
    • Extensive knowledge of Islamic Financial Sector Development
    • 10+ years of senior working experience in development of Islamic Financial Sector Development infrastructure
    • Advanced knowledge of Islamic Financial Sector Development

    Personal Qualities

    • Ability to adapt to changing business circumstances to maintain effective performance of complex
    • Guide direct reports in planning tasks for the regional Hubs
    • Able to draw actionable steps from IDB overall strategy
    • Open to provide mentorship when needed
    • High degree of confidentiality and protection of sensitive information
    • N/A
    • Ability to maintain a rational and objective demeanor when faced with stressful or emotional situations
    • N/A
    • Ability to carry out performance evaluations at direct reports and sub-reports
    • Identify development areas at direct reports and sub-reports
    • Plans and prioritizes work tasks appropriately
    • Promptly anticipate the possible demands and outcomes of a particular task or situation
    • Influence others using rational arguments. Identify basis for compromise and reaches agreement
    • Has a strong and influential character that imposes itself amongst a group of people
    • Able to identify risks and implement necessary mitigation measures
    • Perceive future risks and develop preventive plans
    • Consistently works to a high standard and looks for ways to improve current working practices and processes for the benefit of customers and the company
    • Willing to consider new ideas from people with different background

Key Competencies:

  • Category

    Competency

    Proficiency Level

    Core

    • Adaptability
    • Advanced

     

    • Building relationships
    • Proficient

     

    • Motivation to learn and share
    • Proficient

     

    • Passion for excellence
    • Advanced

    Leadership

    • Leadership and people management
    • Advanced

     

    • Innovation and future orientation
    • Proficient

     

    • Change and transition management
    • Proficient

     

    • Solution and result management
    • Proficient

     

    • Communication and partnership
    • Advanced

    Behavioral

    • Analytical thinking
    • Advanced

     

    • Communication effectiveness
    • Advanced

     

    • Drive for results
    • Proficient

     

    • Knowledge, learning and communications
    • Proficient

     

    • Problem solving
    • Proficient

     

    • Stakeholder management/client orientation
    • Advanced

     

    • Strategic planning
    • Advanced

     

    • Teamwork
    • Proficient

    Technical

    • Bank knowledge
    • Advanced

     

    • Coaching and advisory
    • Advanced

     

    • Corporate governance
    • Proficient

     

    • Country knowledge and programming
    • Proficient

     

    • Country portfolio assessment
    • Proficient

     

    • Partnership management
    • Proficient

     

    • Performance management
    • Advanced

     

    • Policies and procedures
    • Advanced

     

    • Talent management
    • Proficient

     

    • Workforce planning
    • Advanced