IDB3236 - Senior Capital Markets Specialist

Business Unit: Finance & CFO
Division: Capital Markets
Department: Treasury Department
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 15-Feb-2024

Job Purpose:

Responsible for overseeing, coordinating and undertaking various capital market activities for IsDB through appropriate instruments, such as Sukuk, Reverse Murabahas/Wakalas and Hedging, considering funding requirements, risk mitigation and structuring issues to comply with the Sharia’h requirements and meeting the Rating Agencies’ rating criteria. Technically and professionally guide and coordinate the work of lesser experienced team members and provide expert level advice to the Member Countries for any Islamic Capital markets related matters. In addition, to serve as the focal point for onboarding of new/existing counterparts (including assisting compliance in the process) and perform ad-hoc tasks as and when required.

Key Accountabilities:

Capital Market Management

  • Participate in the preparation of the yearly resource mobilization plan, covering the target size, terms, currency and tenors in compliance with approved policies and guidelines.

  • Participate in the resource mobilization activities from capital markets for IsDB-OCR through appropriate instruments e.g. Sukuk issuance and Reverse Murabaha/Wakala transactions (including instrument creation in Misys), considering both the normal funding and stress test requirements; structures the issues and obtains clearance from the relevant committees as well as approval from the Management and the Board of Executive Directors.

  • Undertake yearly update of the MTN Programs, including the need to upsize and change the Sukuk structure and obtain the necessary approval as per the Delegation of Authority and liaising with the counsels and listing authorities.

  • Review the relevant research and recommend Joint Lead Managers (JLM), Swap Counterparties, Money market counterparties (borrowing), trustees, paying agents and other related parties for the capital markets’ activities, undertaking regular review of their performance to promote IsDB Sukuk in the markets.

  • Review swap transactions in accordance with approved policy and procedures to minimize IsDB’s cost of borrowings.

  • Participate in deal and non-deal road shows (including JLM events/forums) independently or in co-ordination with the selected Lead Managers for Sukuk issuance.

  • Review and submit regular status reports on the progress of IsDB’s Sukuk issuances (including Sukuk service reports), capital subscriptions, voting power, capital increases, etc. to the IsDB Management, relevant Committees and the Board of Executive Directors.

  • Provide expert advice and assistance to Member Country institutions, upon request, on how to invest in IsDB Sukuk or develop a money market line.

  • Monitor and follow up on IsDB-OCR share capital payments, particularly those from large shareholders to avoid adverse impact on the Bank’s credit rating.

  • Oversee the documentation process of new funding / Sukuk with internal and external parties, such as external legal advisors, external auditors, rating agencies etc. to ensure timely and accurate preparation of respective documents.

  • Coordinate the successful organization of significant flagship events such as the IsDB Sukuk Summit and IsDB annual meeting side events.

  • Ensure all positions (swaps and liabilities) are correctly reflected in the systems (SAP/Misys, etc.)

  • Undertake annual KYC and onboarding of new/existing counterparts.

Operational Excellence & Support

  • Provide technical guidance and reviews the work delivered by lesser experienced team members.

  • Ensure the effective implementation and adherence to respective policies, procedures and controls so that all relevant procedural / regulatory requirements are fulfilled.

  • Keep abreast of the latest developments, regulations and leading practices in the field and propose any necessary actions.

  • Propose and implement process improvements to increase efficiency, effectiveness and compliance of the related operations.

  • Provide necessary inputs for the preparation of the Divisions budget and for the monitoring of actual expenditure against the approved budget.

  • Review Investor presentations, press releases, speeches, articles, concept notes, technical reports and presentations to supplement the work of the Division/Department.

Education, Certification & Experience:

Academic and Professional Qualifications:

  • Bachelor’s degree in Economics / Finance / Mathematics / Business Administration or related discipline.

  • Professional Certification like CTP, CerT, CTM, CME’s or any Treasury/Capital Market relevant qualification is preferred.

  •  Minimum 8 years of relevant experience in treasury / capital markets management, of which 4 years ideally in a Multilateral Development Bank.

 Skills &  Necessary Knowledge:

  • Islamic Finance.

  • ALM fundamentals.

  • Bond Structuring.

  • Financial Management.

  • Fund management.

  • Treasury System Knowledge.

  • Treasury Products and Dealing Norms.

  • Analytical Thinking.

  • Problem-Solving.

  • Attention to detail.

  • Stakeholder Management.

  • Bloomberg, MS Excel, Word, SAP-FM and JIRA.

Languages:

  • English (Mandatory).

  • Arabic (Preferred).

  • French (Preferred).

Travel:

Limited travel, as per business needs.