Chief Credit Officer

Employer
World Bank Group
Location
Johannesburg Johannesburg Gauteng, South Africa
Salary
Competitive
Closing date
Dec 2, 2021

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Job Role
CFO
Sector
Finance
Contract Type
Permanent
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Required Language(s): English

Preferred Language(s):

Closing Date: 11/26/2021 (MM/DD/YYYY) at 11:59pm UTC

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 2021, IFC committed a record $31.5 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 the COVID-19 pandemic. For more information, visit www.ifc.org .

The successful candidate would join IFC's Investment and Credit Risk Department (CIRIC), part of the Risk and Financial Sustainability Vice-presidency. CIRIC is responsible for providing an independent risk-reward assessment for all new investment transactions and material portfolio events and providing clearance for such transactions at various stages of the investment cycle.

Chief Credit Officers are specialized and experienced risk professionals that are part of the independent risk oversight system. They are responsible for reviewing and approving investment proposals and material portfolio actions submitted by the IFC's Investment and portfolio teams. In addition, working with investment teams on identifying and mitigating credit and equity risk, they ensure that the investment transactions meet IFC's minimum investment standards as required by any applicable policies, procedures, or guidelines, as well as the risk appetite established by senior management.

Chief Credit Officers also play an essential role in maintaining an investment culture within IFC by disseminating credit and equity expertise and best practice through various knowledge management activities.

IFC is now seeking a Chief Credit Officer to join its Investment and Credit Risk Department. This professional will cover the Infrastructure (INFRA), Manufacturing & Agribusiness & Services (MAS) space in Europe, Central Asia, and Middle East Regions. S/he will become part of a formal investment approval hierarchy, serving as "second pair of eyes" in IFC's checks and balances for all IFC investments. S/he will be responsible for providing credit reviews and approvals for new transactions and portfolio monitoring and representing CIRIC on different Committees and Working Groups.

This role requires a thorough understanding of emerging markets, sector dynamics, financial modeling and projections, credit risk, equity valuation, legal structuring, and financial instruments and applying this understanding to identify the benefits and potential risks of existing and new transactions. 2

Candidates will also be expected to have a demonstrated track record of executing transactions and substantial knowledge and expertise with INFRA and/or MAS investments.

This role requires a thorough understanding of a diverse range of products, transaction structuring, macroeconomic drivers, sector dynamics, best market practices, financial modeling, valuation, synthesis capacity, portfolio monitoring, and application of these understandings to identify business opportunities and potential risks existing and new transactions.

The Chief Credit Officer (CO) will be based in Johannesburg, South Africa or Vienna, Austria or Singapore and report to the relevant Regional Chief Risk Officer.

Duties and Accountabilities:

• Represent CIRIC on the Investment Committees, Portfolio Committees, and on different working groups.
• Provide an objective and independent risk assessment in approving and monitoring transactions, while meeting the Standard Level Agreements included in the "Credit Client Service Framework."
• As a "second pair of eyes" to investment teams, s/he will be available at all stages of IFC's investment process (from Early Reviews to post-disbursement) to discuss potential issues with teams. S/he will be engaging business teams to discuss potential issues, including sponsor, market, regulatory environment, structure of the transaction, term-sheet and documentation, obligor/investee financial performance, compliance with covenants, identification, or portfolio trends, rating reviews, use of re-risking tools, etc.
• Assure IFC policies and best practices are implemented so that investment transactions and portfolios are contributing to IFC's financial and development goals.
• Assure IFC's risk appetite is clearly understood, that a proper risk-reward balance is achieved in transactions, and the quality of IFC's portfolio is maintained.
• Approve the initial credit risk rating and facility rating for new transactions and review sample portfolio ratings on an ongoing basis.
• Draw on (and share with staff) years of "hands-on" experience developing business relationships with borrowers and investees, structuring complex transactions, and maximizing financial and developmental returns on investments.
• Be a recognized thought leader and provide expert input to and identify vulnerabilities associated with all approved transactions as well as waivers and conditions.
• Identify risks and opportunities to ensure they are fully disclosed and understood throughout the approval process.
• Visit transaction teams and/or clients in key office locations to get a first-hand understanding of risks.
• Contribute to knowledge management activities through investment FAQs, supporting training programs, or other knowledge management activities.
• Participate in reviews and discussions of credit and equity standards, pricing, deal acceptance criteria, and business process improvement.
• Provide back-up for other Chief Credit Officers, to participate actively in departmental discussions of investment opportunities and challenges.
• Mentor more junior staff.
• Keep abreast of developments in equity market conditions in sectors and countries through an extensive network of contacts and regular visits.
• Advise the CIRIC Director and Regional Chief Risk Officer (RCRO) and Senior Management on transaction or portfolio developments, which could adversely affect IFC's asset quality, developmental impact, or future performance.

Selection Criteria

Experience and Education:
• Advanced degree in finance, business, law, economics, international affairs, or similar fields.
• At least [10-15] years of experience working for a major international financial institution and involved in lending/investing in the INFRA and MAS space, including least 5-10 years as a decision-maker with a positive track record.
• Knowledge and experience with Europe and Central Asia Region are desirable.
• Excellent written and verbal communication skills and fluency in English.

Skills:
• Strong track record with INFRA and/or MAS, covering both debt and equity products, and thorough understanding of financial analysis, deal structuring and documentation.
• Experience in structuring and analyzing complex and large-scale project finance structures and PPP based projects, with a particular focus on power, transport, and telecom transactions.
• Strong track record of investment experience, superior business judgment, and independent thinker.
• Good "deal sense" based on demonstrated strong analytical skills and sound business judgment.
• Ability to work collaboratively with superior influencing and interpersonal skills, demonstrating the capacity to deliver results under stressful timetables and environment.
• Excellent negotiation skills and ability to seek innovative and constructive solutions to support IFC in achieving its financial and development goals.
• Capacity to manage and resolve conflicts constructively when stakes are high, and multiple stakeholders are involved, taking and standing by difficult decisions while communicating them in a way that creates understanding and buy-in from all stakeholders.
• Excellent people management skills and openness to feedback, new ideas, and the ability to guide staff to solutions to problems.
• Sound understanding of global and regional macroeconomic and geopolitical trends.
• Self-starter requiring minimal supervision. Highest standards of integrity. Strong independence of thought and ability to express candid opinions.
• Recognized as a team player and a leader. Excellent interpersonal skills. Ability to build strong relationships across boundaries.
• Proven ability to work effectively under a complex matrix organization and multicultural environment.
• Effective Communicator. Ability to synthesize complex information.

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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