IDB2948 - ASSOCIATE MANAGER, WAQF FUND

Business Unit: Operations Complex
Division: Not Applicable
Department: Special & Trust Funds
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 01-Feb-2023

JOB PURPOSE:

The Associate Manager, Waqf Funds Section will contribute to monitoring and managing the Waqf Funds operational and financial affairs, and its performance. The Associate Manager will participate in the establishment of new Waqf Funds. The Associate Manager will lead in executing the strategic objectives set by the Waqf Funds Board of Trustees (BoT), lead in the preparation of the Annual budgets based on the Annual Spending Policy, contribute in the investments related to the Waqf Funds, and study the allocation of resources for grants, operations (if any) and programs

KEY ACCOUNTABILITIES::

Strategic and Operational Planning:

▪ Lead in the preparation of the strategic plans, annual business plans, and budgets including allocation of grants to various programs and activities, and provide recommendations to the Waqf Funds BoT, Investments, Operations/Projects

▪ Lead in developing the three-year work plan, next year’s spending capacity, and respective annual budget by working with the Business Units funded by the Waqf Funds, Investments, Operations/Projects

▪ Lead in developing strategies and work with the Finance to manage the Waqf Funds assets, liquidity, earnings, spending, and undisbursed financial commitments to ensure long-term financial sustainability of the Funds by adhering to the Waqf Funds governance structure, i.e. BoT.

▪ Lead in the development of the Waqf Funds rules and regulations, policies, and procedures, and provide recommendations.

▪ Ensure adherence to the Waqf Funds policies (Investment Policy Statement, Spending Policy, Attributable Net Income Allocation Policy, etc.) by working with the Finance Complex.

▪ Participate in the establishment and leading new Waqf funds. 

Financial Management Responsibilities:

▪ Lead and maintain the professional relationship with the Financial Policies, Planning, and Analytics Department and contribute to the financial projections of the Waqf Funds.

▪ Lead to Provide analysis of changes to programs funded by the Waqf Funds, partnership strategies, and external initiatives where required

▪ Lead Review and contribute to the quarterly and Annual Financial Statements of the Waqf Funds in coordination with the Financial Control Department

▪ Lead in the preparation of a spending plan in line with the new spending policy by allocating available spending capacity among administrative expenses and programs.

Performance Management Responsibilities:

▪ Provide analytics on the portfolio of programs and other funded initiatives.

▪ Lead in the development of KPIs to gauge performance on all related waqf funds initiatives.

▪ Work with relevant stakeholders to improve the performance of the Waqf Funds portfolio and efficiency and cost optimization

▪ Prepare the required data of the portfolio of the cumulated undisbursed commitments (non-investment related)

▪ Monitor the Investment Portfolio of the Waqf Funds

▪ Lead the support to Implement the proposed qualification and prioritization tool for the selection of grants and projects.

▪ Perform an inventory of outstanding CUCs to cancel invalid, old, or irrelevant ones, revisit the relevance and effectiveness of the remaining commitments, and include unwinding of such commitments in the budgeting process.

▪ Review and contribute to matters related to performance management (KPIs definition) and work with the Strategy, Budget, and Corporate Performance Department on periodic reporting. ▪ Prepare Periodic Progress Reports and annual reports on Waqf Funds operations and performance

▪ Identify the right tools, techniques, technologies, and methodologies required for monitoring and reporting.

▪ Develop a systematic assessment and effectiveness evaluation of existing programs and grants

▪ Monitor deviations against the Waqf Funds performance targets and prepare the corrective actions to be undertaken by management.

▪ Work on developing the benefit and effectiveness of program spending.

Knowledge Sharing & Innovation:

▪ Provide expertise and guidance to less experienced staff within the section

▪ Disseminate knowledge and technical information where and when needed.

▪ Prepare and present regular progress reports to keep the STF management fully abreast of the latest developments.

Partenrships and Communication:

▪ Lead and maintain professional relationships with other multilateral development institutions, sovereign wealth funds, public and private funds, asset management companies and other financial institutions for co-financing and partnerships.

▪ Represent the Waqf Funds in events, meetings and conferences and networks outside the Bank.

▪ Lead/participate the promotional activities and business development initiatives (such as forums, roadshows and other promotional activities) to promote Waqf Funds products for advocacy and Resource Mobilization.

▪ Create communication plans and campaigns that support the Waqf Funds strategy and priorities

▪ Review results, working papers and present ad-hoc, periodic flagship reports, briefs to the Management

Partnerships and Communication:

▪ Lead and maintain professional relationships with other multilateral development institutions, sovereign wealth funds, public and private funds, asset management companies and other financial institutions for co-financing and partnerships.

▪ Represent the Waqf Funds in events, meetings and conferences and networks outside the Bank.

▪ Lead/participate the promotional activities and business development initiatives (such as forums, roadshows and other promotional activities) to promote Waqf Funds products for advocacy and Resource Mobilization.

▪ Create communication plans and campaigns that support the Waqf Funds strategy and priorities

▪ Review results, working papers and present ad-hoc, periodic flagship reports, briefs to the Management

Education, Experience & Certification:

Bachelor’s degree in Finance, Business Management, Economics or a related field.

• Minimum 10 years of experience in Finance/Islamic Finance, Funds management

• Minimum of 3 years managerial/ supervisory experience

Languages::

 English: Mandatory

Arabic: Mandatory

French: Preferred