IDB3008 – Associate, Corporate Finance / Project Finance & Infrastructure [Egypt, Fixed Term Contract]) – ICD
Business Unit: ICD – Islamic Corporation for Development
Division: Corporate Finance ICD
Department: Banking (ICD)
Contract type: Fixed Term Contract
Country: Egypt
Location: Egypt – Cairo
Closing date: 14-May-2023
Role Purpose:
Contribute and participate in the origination, structuring, due diligence, processing and management of ICD’s term financing activities in the ICD Member Countries (MCs) in the Middle East and Africa region, and outside, as needed, and ensuring bankable deal flow from the region, in accordance with ICD’s business targets, credit policies and guidelines.
Participate in the delivery of ICD’s mandate by forging productive collaboration and cooperation amongst business units, MCs and private partners.
The role is mainly intended for the Corporate Finance Division under the Banking Department. However, based on the ongoing business needs, the Banking Department may utilize the staff for other functions under the Banking Department (e.g., Project Finance and Infrastructure).
Key Functional Accountabilities and Activities:
Project Sourcing & Origination: .
- Originate new bankable deal opportunities that are in line with the risk appetite of the Corporation and target market sheet of the Banking Department.
- Maintain relationships in the ICD MCs in the Middle East and Africa region and outside, as required, to promote ICD’s term finance products, services and highlighting ICD’s value proposition.
- Propose and execute client origination and sourcing strategy including identification of target countries products, target sectors and development goals.
- Collect Know Your Customer (KYC) documents from the clients and work closely with the Legal and Compliance Department for their required compliance clearance.
- Actively participate and support as appropriate the supervisor/head in the preliminary appraisal stage to assess the feasibility of potential financing proposals / projects in alignment with ICD’s credit appetite, strategy and development objectives.
- Participate in the preparation and negotiation of mandate letter with the client and have the same executed after obtaining necessary internal clearances.
Project Appraisal & Approval:
- Obtain necessary client and project documents and details to prepare a transaction proposal.
- Coordinate internally and externally to ensure selection and appointment of external advisers to support the due diligence and documentation.
- Conduct detailed due diligence of the client and assess the business potential, risks, mitigations, and development impact associated with the project in alignment with ICD’s policies and guidelines, in coordination with ICD’s Risk, Legal, Strategy, Sharia’a and Development Effectiveness functions, taking into consideration the client’s ability and willingness to comply with ICD’s standards and practices.
- Initiate and participate in the negotiations with the client and conduct relevant activities, including but not limited to project timeline and disbursement cycles & criteria.
- Work closely with the deal team members, other co-financiers, clients, financiers’ and client’s external advisers etc. for effective due diligence, credit proposal, and smooth execution.
- Closely work with Risk Management Department, Legal Department, Strategy Department, Shariah, Development Effectiveness in order to process a transaction proposal for the final approval.
- Actively contribute towards the preparation and presentation of the credit financing proposals to the Technical Review Committee (TRC), Investment Committee (IC), and Executive Committee/ Board ensuring proper review and coordination with ICD’s risk, legal and Shariaa functions and obtain necessary approval as applicable.
- Undertake business travels, as required, for origination, negotiation, credit appraisals, execution and other business requirements.
- Coordinate with all required parties to ensure that legal documents are reviewed, prepared and duly executed as per the transaction structure and that the facility is declared effective for the disbursement
- Work in conjunction with and support the Portfolio Management Division post-project handover to maintain portfolio quality.
- Engage with the client and other relevant stakeholders in deal structuring and financialization of the term sheet as per the guidelines of the IC.
Monitoring and Reporting:
- Participate and prepare for evaluation, structuring and execution of transactions up to the first disbursement and hand over to the Portfolio Management.
- Follow-up with clients and co-financiers to ensure compliance with effectiveness conditions and process the first drawdown requests internally to facilitate timely fund disbursements.
- Transfer investment files to the Portfolio Management team after the first disbursement and provide support on ongoing basis.
Stakeholder Management:
- Initiate and maintain relationships with all relevant stakeholders to continue to grow ICD operations with the corporates in the Middle East and Africa and outside as needed.
- Maintain relationships with clients during the project lifecycle and ensure that project objectives have been met and support Portfolio Management team in managing customer relationship post-project handover.
- Maintain pulse on the macroeconomics and microeconomics of the countries of the portfolio clients.
Qualifications/ Professional Experience:
- At least 3 years of relevant experience in corporate financing, project financing, or direct investment business in front office of a reputable financial institution or private equity firm (or equivalent) is a must. Any additional years of relevant experience will be an added advantage.
- Bachelor’s degree in Business Administration, Finance, or related field is a must.
- Master’s degree in Business Administration, Finance or related fields or a relevant professional certification such as ACA, CFA, ACCA, or CIMA is required.
- Proficiency in Microsoft Excel, Microsoft Word and Microsoft Power Point is a must.
Behavioral and Technical Competencies:
Core Behavioral Competencies:
- Innovation and Initiatives
- Change Management
- Developing People Capability
- Partnership Management
- Strategic Thinking
- Self Effectiveness
Technical Competencies:
- Financial analysis and financial modelling skills
- Credit & investment appraisal skills
- Relationship management skills
- Macroeconomic indicators and concepts
Language Skills:
- Ability to communicate and write effectively in English and Arabic is required. Whereas working knowledge of French is an added advantage.
