IDB Invest Valuation Lead Officer
Background: IDB Invest (IDBI), a member of the Inter-American Development Bank (IDB) Group, is a multilateral organization based in Washington, D.C., that is committed to the development of Latin America and the Caribbean through the private sector.
The Finance and Administration Department (FNA) covers the following divisions: Controllership; Analytics and Information Technology; Operations; and Treasury. The Controllership Division is responsible for development-related investment valuation; accounting; financial reporting; budget and financial planning; and administration of corporate resources to support IDB Invest’s business needs.
The valuation team within the Controllership Division is a newly formed team that will be dedicated to the valuation of financial Instruments, initially focused on investments in private sector entities in its regional member countries (“development-related investments”). This team will be responsible for preparing and reviewing the investment valuations for purposes of IDB Invest’s quarterly financial statements, as well as preparing ad hoc valuations in certain circumstances and working with investment teams during the origination stage to determine the appropriate valuation methodology for proposed investments. In addition, the valuation team will be responsible for developing and maintaining valuation procedures and internal controls to support valuation processes, as well as valuation guidelines to help ensure that fair value measurements comply with the requirements of U.S. GAAP and industry best practices. The valuation team will engage regularly with investment teams, risk teams, other FNA teams, and external auditors.
Job Description: The Valuation Lead Officer position presents an exciting opportunity to apply finance knowledge in a supervisory role overseeing a dynamic and diverse team of professionals in a growing institution. This position requires deep technical knowledge of valuation methodologies applicable across a broad array of financial instruments, including interests in funds, equity of various share classes, debt securities, loans, guarantees, other risk sharing instruments, and terms embedded in these instruments that may have value. It also requires financial modeling skills, the ability to multi-task and manage time effectively, strong oral and written communication skills, sound judgment, and preferably knowledge of markets in Latin America and the Caribbean.
Key responsibilities will include but are not limited to:
- Supervise a team of 4 valuation analysts;
- Review quarterly valuations prepared by valuation analysts for accuracy and, where appropriate, consistency in valuation inputs across investments;
- Present results of quarterly fair value measurements to management committee responsible for portfolio supervision;
- Prepare supporting documentation for fair value measurements in financial statements and disclosures and engage with the external or internal auditors to address questions regarding such measurements;
- Oversee the valuation team’s engagement with investment teams in determining the appropriate valuation methodology during the origination stage and its representation in investment approval meetings;
- Develop or enhance written valuation guidelines;
- Implement and monitor internal controls surrounding valuation processes to prevent or detect errors and to mitigate risks;
- Engage with colleagues in investment operations, risk, accounting, budget, and other units as needed to enhance valuation procedures, evaluate the impact of proposed financial products or product features, and conduct financial analyses;
- Manage relationships with third party valuation service providers for select investments .
- Master’s degree or PhD in finance, economics, business administration, statistics, or a related relevant discipline
- CFA preferred
- Completion of financial modeling course(s) preferred
Skills and experience:
- At least 15 years of relevant professional experience required, including experience preparing and reviewing valuations for a range of financial instruments and applying a variety of valuation techniques (e.g., present value techniques, market multiples/guideline public company or transaction, option pricing models)
- At least 4 years of supervisory experience required
- At least 2 years of relevant professional experience with financial markets and products in Latin America and the Caribbean required
- Relevant professional experience engaging with third party valuation service providers required
- Understanding of the requirements of ASC 820, Fair Value Measurements, required
- Relevant professional experience in international financial institutions a plus
- Familiarity with or experience valuing liquid investments (U.S. Treasury instruments, money market funds) a plus
- Proficiency with financial modeling tools (MS Excel and VBA, Python or other programming skills or other applications for developing financial models) and data analytics, reporting, and presentation tools (e.g., PowerBI, Powerpoint) highly desirable
- Oral and written proficiency in English required. Proficiency in Spanish highly desirable. French and Portuguese a plus.
Type of contract and modality: Staff
Contract duration: 3-year contract
Contract start date: To be negotiated with the selected candidate
Place(s) of work: IDB Invest Headquarters, Washington DC, USA
Supervisor: Controller, Controllership Division
Our culture: At IDB Invest, you will be surrounded by a diverse group of people who have years of experience in private sector development across industries and topics, including infrastructure and energy, corporates, financial institutions, financial and non-financial products and services, gender and diversity, communications and much more.
About us: IDB Invest, a member of the Inter-American Development Bank (IDB) Group, is a multilateral organization, committed to the development of the private sector of Latin America and the Caribbean by financing loans, equity investments, and guarantees. In addition, IDB Invest partners with clients to provide advisory and training services.
The IDB Invest offers a competitive remuneration and benefits package.
The IDB Invest is committed to diversity and inclusion and to providing equal opportunities in employment. We embrace diversity based on gender, age, education, national origin, ethnic origin, race, disability, sexual orientation, and religion. We encourage women, Afro-descendants and persons of indigenous origins to apply.
Our team in Human Resources carefully reviews all applications
- External Opening Date: May 30, 2023
- External Closing Date: Jun 15, 2023
- External Contact Email: firstname.lastname@example.org
- External Contact Name: HR Service Center
- Job Field: Accounting & Budget