Investment Officer
Cairo, Egypt
JOB DETAIL
Description
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities. Our mission is to leverage the power of the private sector to end extreme poverty and boost shared prosperity on a livable planet. For more information, visit www.ifc.org.
IFC has embarked on an ambitious new strategy to stimulate more investment activity by Creating Markets, including in Low Income Countries (LICs) and Fragile and Conflict Situations (FCS). This new strategy requires a shift in our approach to proactively create, deepen, and expand markets and projects rather than waiting for clients to propose projects for IFC to finance. This strategy also relies on upstream work with Governments and World Bank colleagues to enable private sector solutions and financing. We call this approach the “Cascade.” Working with clients, we will first seek private sector solutions to address development challenges, where such solutions are advisable and can be effective, and reserve public financing for projects only when other options are suboptimal.
The Financial Institution Group (FIG) is one of IFC’s key Departments responsible for a significant portion of IFC’s business volume, profitability, and development reach, approximately 40%. FIG engages in a wide range of sub-sectors including Microfinance, SME, Gender, Climate, Insurance, Capital Markets, Housing, Distressed Assets, and other areas, with both investment and advisory services delivered globally to IFC’s clients through IFC’s global network. FIG has three main objectives: 1) financial inclusion; 2) servicing the real economy; and 3) mobilizing third-party resources. The goal is to develop efficient financial systems that will increase financial inclusion and fuel economic growth in client countries and enhance IFC’s developmental impact.
FIG Africa is based across the continent with main hubs and offices in Kenya, Egypt, Morocco, Nigeria, Senegal, and South Africa and is recruiting Investment Officers (“IO”) with good local market and industry experience to join the investment team, which originates, manages and monitors IFC’s financial sector investments, including investments that support the institutions’ regional expansion across Africa. The IO will report to the relevant FIG Regional Industry Manager and will be based Cairo (Egypt).
Note: Excellent oral and written presentation skills in English are required.
Duties and Accountabilities:
The duties and accountabilities of the role include but are not limited to:
• Develop a strong pipeline of good quality investment opportunities through proactive origination/business development and developing and employing sector/country knowledge.
• Build and maintain strong relationships with existing and potential FIG clients, investors, arrangers, and other key stakeholders (development partners, government, World Bank) of the financial sector community to further develop the sector and to develop specific investment opportunities.
• Mobilize other investors alongside IFC.
• Engage with mid and senior-level clients of projects to understand their business directions and challenges that may lead to new opportunities, and support design of client engagement plans, as applicable.
• Lead investment transactions incorporating lessons learned from IFC’s earlier investments and portfolio management.
• Support upstream initiatives across the World Bank to unlock constraints to financial sector growth and inclusion in the region and globally.
• As team leader and sector investment specialist, evaluate, structure, negotiate, and close new transactions, portfolio restructurings, rescheduling, capital increases, equity sales, as necessary.
• Use strong negotiation skills to develop solutions and overcome impasses in complex transactions.
• Build productive and mutually beneficial relationships/networks internally and externally to identify business opportunities, discuss structuring alternatives, and resolve issues.
• Collaborate in developing client strategies/ engagement plans and pitch books for industry and countries.
• Develop innovative and appropriate financial structures for complex transactions.
• Lead term sheet negotiation/legal documentation process; use strong negotiation skills to develop solutions and overcome impasses in straightforward and complex transactions.
• Mentor and coach less-experienced staff and help build talent and grow skill base of staff.
• Coordinate closely with social, environmental, governance, and technical assistance colleagues to add value to our clients’ businesses, find pragmatic solutions to the specific sector challenges, and achieve sustainable development impact.
• Monitor complex portfolio projects supporting value contribution and development impact to IFC’s debt and equity investment portfolio: lead active portfolio management and negotiations to maximize financial and development effectiveness results.
• Review and analyze the financial and operating performance of clients, including covenant compliance reviews and impact reporting; prepare quarterly risk ratings, annual supervision, and other management reports as well as country strategy papers, briefs and project profiles.
• Responsible for rating reviews or loan loss reserve on a quarterly basis for the overall assigned portfolio and monitor changes to risk flags to determine performance of assigned portfolio with limited supervision.
• Apply knowledge of project/portfolio lifecycle to identify and meet critical path milestones, and to implement tasks (including production of documents) in a timely and high-quality fashion for the processing or supervision of projects.
• Supervise and ensure quality of portfolio reporting information prepared by junior staff, providing broader industry, sub-sector and country perspective into project risks and issues.
Selection Criteria
• Master’s degree in finance or similar relevant education; accreditation as a CFA or CPA is considered a plus.
• At least 10-14 years of relevant experience in the financial sector, including a solid operational understanding of commercial banks and other financial entities in Africa.
• Demonstrated network of top-level contacts in the financial services and investment industries in Africa.
• Documented experience and expertise in identifying, evaluating, structuring, and negotiating private debt and equity investments; experience in portfolio management.
• Sound business judgment and strong problem solving/negotiation skills to identify issues and present creative, practical solutions.
• Ability to work effectively on simultaneous projects under time pressure.
• Capacity to deal with conflicting priorities and deliver high quality work on schedule; facility to work successfully in multicultural teams and across boundaries.
• Ability to build and maintain relationships with the business community and governmental authorities, as needed; and
• The position requires regional and international travel.
• Proactiveness, strong business development and client relationship skills, and ability to focus on client needs effectively.
• Ability to interact directly and independently with the senior management of potential clients, financial and technical partners, as well as senior government officials.
• Sound business judgment in identifying potential business partners and investment opportunities.
• Ability to draft documents and reports that are concise, well-organized, and appropriately focused on most critical points that are relevant to the target audience.
• Excellent verbal and written communication skills in English. Arabic will be a plus.
• Strong interpersonal skills, ability to interact effectively with clients and colleagues.
• Team player. Ability to work sensitively and effectively in a multicultural setting.
• Takes personal responsibility and accountability for timely response to client queries, requests or needs, working to remove obstacles that may impede execution or overall success.
• Willing to travel to various regions in Africa (if safety standards are met based on the World Bank standards).
• Strong passion in sustainable economic development.
• Exceptional attention to detail.
• Strong research and quantitative skills.
• Strong Computer skills to develop user-friendly/punchy analyses/presentations (word, excel, and PowerPoint).
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.
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