Senior Syndications Officer (Asset Management for the Managed Co-Lending Portfolio Program)
Washington DC, United States
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 in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
The Syndicated Loans and Management Department (“CSL”) is responsible for raising external funds for IFC’s borrowers from banks through the B Loan program, from Development Financial Institutions (“DFIs”) and other parallel lenders, and from institutional investors through its Managed Co-Lending Portfolio Program (“MCPP”).
MCPP is a portfolio syndications platform, through which investors can gain exposure to a diversified portfolio of senior loans to private sector borrowers in emerging markets. Akin to an index fund, an MCPP investor’s portfolio is built to mimic IFC’s own future loan origination within pre-agreed eligibility and concentration limits. Since 2013, the unit has raised $12.5 billion from 11 investors, including from central banks, insurance companies, and asset managers. The product is adaptable to meet the varying regulatory requirements of different types of investors in varying jurisdictions. As a result, the product won an award for “Innovation: New Markets and Capital” from the Financial Times in 2017, and was later showcased as an example of implementing IFC’s Creating Markets strategy. In 2022, the unit launched that latest MCPP platform, One Planet, which builds for institutional investors the world’s first cross-sectoral portfolio of EM senior loans aligned with the Paris Agreement, supporting the WBG in its ambitious Climate Change Action Plan. In addition, IFC will provide investors with enhanced impact and ESG-related reporting, allowing them to tangibly demonstrate their contributions to the climate agenda and SDGs, as well as meet their latest disclosure commitments and regulations. The Unit manages obligations to existing investors, as well as continues to fundraise and develop new product features and variations to expand the MCPP platform.
The Investor Engagement Division (“IED”) within CSL is currently seeking a Senior Syndications Officer to oversee the governance and core operations related to the deployment of the funds raised under the MCPP platform, including engagement with existing MCPP investors, as well as support the operational components needed to allow for further product development and fundraising.
The position will be based in Washington, D.C. S/he will report to the Head of MCPP.
Role & Responsibilities:
Focus on Governance and Daily MCPP Operations
Support junior MCPP staff in day-to-day operations, which typically include ensuring MCPP is offered to borrowers in all eligible transactions, investors are allocated the correct amounts into all eligible transactions, MCPP clauses are correctly included in borrow-facing legal documentation and ensuring MCPP voting rights are known and honored through the life of the loans.
• Lead discussions in complex cases to find win-win outcomes for borrowers and investment staff, while maintaining compliance with contractual obligations to MCPP investors
• Maintain/Improve training materials for Investment Officers and Syndication Officers on the various MCPP platforms
• Oversee the development of enhancements to the model which allocates transactions amongst investors
• Lead the development/improvement of MCPP policies and procedures, ensure IFC-wide policies continue to incorporate references to MCPP, expand Board Delegated Authority for MCPP products
• Oversee internal and external reviews/audits on MCPP operations in consultation with other relevant teams across the Department and the Corporation
• Design/Improve internal dashboards to keep internal stakeholders apprised of deployment and remaining space within the funding envelopes.
• In close coordination with the IT Department, promote the expansion of the IT automation to improve deal identification and tracking
Engaging with Existing MCPP Investors
Support junior MCPP staff in day-to-day engagement with existing MCPP investors, including at the transaction level, at the portfolio level, and in any required amendments to the legal agreements.
• In partnership with legal counsel, lead negotiation of amendments to MCPP agreements, as needed
• Lead organization of investor meetings and annual portfolio reviews
• Ensure investor reporting is delivered timely and of high quality, as well as exploring further opportunities to improve the reporting and enhance automation with IT
• Liaise with internal staff to support ongoing investor queries on the credit of specific transactions being proposed or within their portfolios, or more general queries related to IFC’s sectors, practices, etc.
Supporting Operational Components of Product Development and Fundraising
Support MCPP staff engaged in new business or product development efforts to ensure design features are thought through operationally, implemented in time, and that staff are appropriately trained.
• Partner with IT, loan operations, financial operations, accounting policy and Legal to ensure from a business perspective that any new product features or reporting requirements negotiated can be operationalized, booked appropriately, and cause no unintended side effects for IFC. Partner with the teams on the design and implementation of the changes.
• Partner with Legal to amend borrower-facing legal agreements to accommodate new product/investor requirements.
• Lead the modification of MCPP and IFC-wide policies and procedures, as needed.
• Prepare new training materials for Investment Officers and Syndications Officers.
Selection Criteria
• M.B.A. or Master’s degree in a relevant field with at least 8 – 12 years of relevant experience.
• Background in designing and implementing governance frameworks and related controls
• Track record in middle office / fund administration within asset management, financial product development, or similar function preferred
• Experience with complex legal agreements with investors and partnering with Legal to propose amendments to Loan Documentation, as needed, to support new fundraising and product development
• Comfort liaising support functions such as loan operations and IT, including partnering on systems enhancements and automation
• General accounting familiarity to anticipate issues and partner with Accounting Policy to develop solutions to enable successful product development and operationalization of MCPP programs
• Solid operational understanding of financial markets, international banking operations, senior loans and loan syndications products including B Loans, Parallel Loans, Credit Insurance, and IFC’s Managed Co-Lending Portfolio Program
• Ability to track the progress of large amounts of deals and multiple investor portfolios at once across all regions, with exceptional attention to detail and ability to organize. Experience with large data set manipulation and organization is a plus.
• Team player with strong interpersonal skills to interact at senior levels internally and externally, and able to work flexibly across time zones to support staff and investors globally
• Strong analytical and problem-solving skills to identify issues and present creative, practical solutions.
• Advanced skills in MS Excel, PowerPoint and Word.
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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