Director Credit Guarantee Business

Background on PCGC:

Pakistan Credit Guarantee Company (PCGC) is being set up as a DFI for providing credit guarantees to incentivise the Financial Institutes (FIs) to lend more to the collateral deficient micro, small and medium enterprise which is hindering the growth of the SME and Rural economy. PCGC aims to serve as a catalyst while ensuring sound lending practices amongst the FIs. This in turn would not only help improve the affordability of SME borrowing but also increase the number of qualifying borrowers especially collateral light borrowers. With these initiatives, PCGC envisions an expansion of the SME finance market, export led growth, women empowerment and employment generation in Pakistan. PCGC will have shareholding from Ministry of Finance, State Bank of Pakistan and Karandaaz Pakistan. 

Position Summary:

To effectively oversee Karandaaz’s majority shareholding in PCGC and monitor intended development impact, Karandaaz is seeking to engage a seasoned and senior financial industry expert who has extensive experience and knowledge of credit guarantee facilities and SME financing in Pakistan and/or in other development countries. Ideal candidate for this position would be someone with a strong corporate finance background and prior board experience who can represent Karandaaz on PCGC board of and provide strategic and operational advisory to the board and ensure there is no potential mission drift in the organisation. The ideal incumbent would be able to add value by identifying and recommending relevant credit guarantee schemes and products suitable for PCGC to achieve its goals.  He/she would have a passion for development of the SME financing space and in-depth knowledge of successful credit guarantee schemes.

The initial contract will be for a period of three years which can be extended depending upon individual’s performance. Karandaaz is a growing organisation with a double bottom-line objective i.e. ambitious developmental goals as well as market based commercial returns which are used for advancing the cause of Financial inclusion.

Key Duties and Responsibilities:

The Director will be responsible for the following:

• Represent Karandaaz mandate on PCGC’s Board and relevant board committees which could include Risk, Credit or Audit Committee
• Assist Karandaaz and the PCGC Board in shaping strategic direction of PCGC’s business for achieving the organisation’s vision, mission and overall strategy
• Provide input on establishing a strong corporate governance structure and assist PCGC in working with regulators, law firms and tax/accounting firms for approvals and licenses required for PCGC to move forward with its operations
• Assist CEO Karandaaz in Post investment management to ensure that PCGC achieves its financial results and development goals in line with the business plan; and Recommend changes required to the overall direction, policies, and strategy of the entity as and when required
• Provide technical input to PCGC management in product development, market analysis, and business plan
• Periodic reporting on progress and any risks associated with KRN investment in PCGC to the Karandaaz Board, Investment Committee and CEO.
• Recommend changes required to the overall direction, policies and strategy of PCGC as and when required
• Develop financial and risk reporting frameworks which can provide critical information to KRN about the direction of PCGC
• Assist the PCGC Board in recruitment of senior PCGC staff and provide guidance on building a team and a work culture that is inclusive and reflective of PCGC values
• Developing close relations with DFID, SBP, GoP and other stakeholders
• Any other task as may be required to ensure successful operationalisation and delivery of PCGC

Candidate Profile

Education and Experience

• Minimum 15 years of financial sector experience in the financial sector, preferably in SME/ commercial finance, risk, private equity or credit guarantee
• CIMA qualified member
• Strong Corporate Governance and/or Board experience of financial institutions required
• Knowledge of regulatory compliance requirements of State Bank of Pakistan & Securities and Exchange Commission of Pakistan for running a credit guarantee business
• Ability to coordinate and manage multiple stakeholders to provide a holistic project management support
• Very strong analytical, writing and presentation skills
• Ability to work independently and as part of an integrated, diverse team and be comfortable in multiple, highly varied settings
• Passion for the mission and alignment with core values of Karandaaz Pakistan.
• Previous experience working with international DFIs and in particular Guarantors will be highly desirable

Culture and Values at Karandaaz

Karandaaz Culture is guided by our values of Innovation, Collaboration, Accountability, Respect and Equity (ICARE). These values shape our choices on what we do and how we do it, both with colleagues internally and partners externally. We also believe that we are all responsible for creating a great place to work and are constantly looking to hire individuals who bring the same level of passion and commitment to the purpose of the organisation.

Last date to apply: 9th Sep 2020