|Term Duration:||4 years 0 months|
|Recruitment Type:||International Recruitment|
|Closing Date:||9/21/2021 (MM/DD/YYYY) at 11:59pm UTC|
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.
IFC has embarked on an ambitious new growth strategy (IFC 3.0) to stimulate more investment activity. This strategy calls for generating our own opportunities by proactively working “Upstream” to create, deepen, and expand markets and to imagine, design and implement investment projects. It requires taking a systematic approach to understanding the regulatory and sector bottlenecks that prevent the flow of private capital into productive investment in our member countries and addressing these bottlenecks through World Bank Group engagement on policy reforms and programmatic interventions at the country and sector level. This strategy also calls for working with Governments and World Bank colleagues to 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. This approach is called the “Cascade”.
The Infrastructure and Natural Resources (INR) Industry is one of IFC’s key strategic priorities. The team delivers financial and technical support to clients in the power, transport, telecoms, municipal & environmental infrastructure, oil and gas, and mining sectors, from IFC’s own Balance Sheet and through mobilization of other capital. IFC also seeks to be at the cutting-edge of helping member countries find solutions to new and emerging infrastructure and natural resource issues.
IFC is seeking a Portfolio Manager for its core infrastructure business in the South Asia Region including India, Bangladesh, Nepal, Bhutan, Sri Lanka, Maldives. The exact country responsibilities for this position may be adjusted at a future date based on business needs. The position is based in either Delhi or Mumbai. No other locations will be considered.
The Portfolio Manager will:
(i) Be a core member of the South Asia Infrastructure management team and leadership team
(ii) Work closely with the management and colleagues from CNG as well as the Asia Pacific region
(iii) Coordinate on a continuous basis with the Country Managers as well as with the regional leadership teams
(iv) Coordinate on a routine basis with other relevant Departments within IFC, including Central Portfolio Management, Special Operations, etc.; and
(v) Have direct supervisory responsibility over a segment of Asia & Pacific infrastructure staff. S/he will report to the Asia Pacific Regional Industry Director based in Singapore.
Duties and Accountabilities
1. Provide overall leadership to the team in actively managing the portfolio and, in close coordination with the Asia Pacific Infrastructure management team, ensure staff adhere to the spirit of managing the business;
2. Ensure portfolio experience and perspective is fed into strategy development and business decision making, through participation in CRMs/IRMs, sharing of lessons learned from the portfolio, producing benchmarking analytics, etc.;
3. Project and report on the profitability and development impact of the portfolio, and actively seek ways to optimize usage of economic capital and profitability performance, through sales, risk sharing or mobilization;
4. Manage selected infrastructure client relationships and ensure a high level of client satisfaction;
5. Monitor the overall risk of the debt portfolio, ensure PDs and LGDs for all active projects are completed on time and to the highest quality standard, and make recommendations on appropriate level of specific loan loss reserves;
6. Actively manage the entire equity portfolio, both core and non-core, ensure equity management plans developed and adhered to for all assets, including proposing and filling board seats with qualified candidates for strategic assets;
7. Regularly review valuations, write-downs, exit strategies of the equity book, and develop a plan to sell less strategic assets to free up resources;
8. Ensure the timeliness and quality delivery of regular waivers and amendments as well as complex portfolio actions such as rescheduling/restructuring, rights issues, equity sales, loan conversion, etc.;
9. Provide early warning for assets at risk and actively communicate with CSO regarding both debt and equity watch lists, ensuring close coordination on rescheduling and restructuring situations;
Provide regular monitoring and reporting on the portfolio and organize debt and equity review meetings in coordination with the Regional Industry Director;
10. Supervise compliance with IFC financial, environmental, legal and other requirements;
11. Lead the Portfolio Construction Exercise for the region, including (i) defining aspirational measures for the future portfolio by size, composition, risk distribution, etc., (ii) track the addition of each new transaction to the present portfolio, and how it contributes to the future portfolio construct; and (iii) present analysis as part of IRM books and contribute to the decision making for new business;
12. In close coordination with the rest of the South Asia Infrastructure management team, attract and lead a high-performing, well-motivated team committed to the success of IFC;
13. Act as Transaction Manager for select new business transactions with existing clients in our portfolio.
• MBA or equivalent professional qualification and minimum of 12-15 years of relevant work experience (at least 2 of which must have been in a managerial or leading capacity);
• Sound knowledge of sourcing/structuring both debt and equity transactions, and a proven track record portfolio/asset management;
• Previous experience in one or more of the core infrastructure sectors (power/transport/utilities) highly desirable;
• At least 10 years of active credit decision making experience, strong analytical skills and sound business judgement;
• Demonstrated leadership abilities;
• Ability to establish and nurture client relationship;
• Strong sense of service and protection of IFC’s assets;
• Excellent people management skills and openness to feedback; new ideas and ability to guide staff to solutions to problems;
• Ability to work in a matrix organizational structure, delivering high quality work within deadlines and meeting business objectives;
• Ability to develop innovative solutions to address portfolio risks;
• Recognized as a team player and strategic thinker;
• Strong written and verbal communications skills;
• Ability to collaborate closely with other parts of the World Bank Group and other MFIs and financing institutions and banks;
• Meet Bank Group-wide managerial selection criteria including courage of your convictions, leading the team for impact, influencing across boundaries, fostering openness to new ideas, building talent for the future.
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.