Manager, Client Solutions, Asia
|Term Duration:||4 years 0 months|
|Recruitment Type:||International Recruitment|
|Closing Date:||11/16/2023 (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 2023, IFC committed a record US$43.7 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 global compounding crises. For more information, visit www.ifc.org.
IFC Treasury & Mobilization have been a large and significant player in the international financial markets for more than 30 years and has achieved a global reputation as an innovative borrower, investor, mobilizer of 3rd-party capital, and risk manager. Operating globally to deliver on IFCs strategy to create markets and mobilize private capital for development, the Treasury & Mobilization Vice Presidency manages over $116 billion in liquid assets, global market borrowings, derivatives transactions, and a portfolio of 3rd-party capital. It is responsible for managing the liquidity and cash of the Corporation, executing the funding program, strengthening local-currency financing by arranging and executing local-currency and risk-management transactions for clients, and mobilizing 3rd-party capital through innovative syndication and mobilization platforms such as the Managed Co-Lending Portfolio Program (MCPP). The Vice Presidency also manages the capital market education programs, provides advisory services and other knowledge services related to treasury management and operations to IFCs clients. Finally, the Vice Presidency is responsible for performing some support functions necessary to achieving its mission (e.g., measuring and managing risks, computing performance and valuations, and undertaking quantitative analyses).
IFC Treasury & Mobilization VPU teams are co-located in three global hubs that together serve IFC clients seamlessly across time zones and geographies. Operations are headquartered in Washington, D.C. and headed by the IFC VP and treasurer. In addition, there is a hub in London (with small presence in Dakar and Nairobi) covering Europe, Middle East, Central Asia and Africa and a hub in Singapore that covers Asia.
The Treasury Client Solutions department of the VPU has global responsibility for delivering to clients IFC's capabilities in derivatives, structured finance, and debt capital markets, focusing in particular on local currency financing solutions and capital market development. The department has ambitious plans to contribute to IFCs 2030 goals that target significant business growth, especially in IDA and IFC countries. The department is recruiting a manager based in Singapore to oversee the Asia team in developing, implementing, and executing the strategy of offering treasury products including derivatives, structured products, and capital market solutions to IFC clients in the region. This position reports to the Director, Treasury Client Solutions, based in Washington, D.C.
Duties and Accountabilities:
The Manager will be responsible for the development, structuring and execution of fixed income transactions (local currency, debt capital markets, structured finance, and derivatives) for IFCs clients, focusing on strengthening local currency capital markets and manage a "one-stop-shop" for treasury client products and solutions.
Business Management Accountabilities:
Play an integral role as part of the department's management team in decisions on business direction, strategy, and resourcing.
Provide overall guidance and leadership in structuring current product line consisting of local currency loans, bonds, interest rate and cross currency swaps, commodity swaps, partial or full guarantees on bonds and loans, credit enhancement through structured products, risk sharing facilities and customized derivative based hedging solutions.
Develop an integrated portfolio of local currency solutions including MTN programs, currency linked bonds, borrowing and on-lending solutions.
Design and manage a program-based approach to issue local currency bonds in different markets to fund local currency financing needs of IFC investments.
Ensure compliance with various financial instruments, asset liability management, risk, and pricing guidelines regarding products offered by IFC Treasury. Ensure that services are undertaken in a timely and accurate manner with due consideration to client needs.
Proactively identify, measure, and manage interest rate and currency risks on IFC's funded balance sheet to ensure compliance with the corporation's Asset-Liability Management framework.
People/Talent Management Capabilities:
Provide leadership and guidance to a team of highly skilled analytical and quantitative professionals to foster technical excellence and professional development.
Plan and oversee the group's work program and staffing needs to ensure high quality outputs and with a view towards meeting the VPU's diversity and inclusion targets.
Structure and encourage staff training.
Relationship Management Accountabilities (Internal and External):
Jointly lead the strategy dialogue and build partnerships with internal IFC investment departments.
Represent the group in internal and external forums including international conferences, seminars, workshops, and high-level meetings with outside clients.
Manage relationship with market counterparts including international commercial banks and domestic banks across a range of markets and countries.
Liaise with authorities (central banks, securities and exchange commissions, pension regulators and ministries of finance) in communicating IFC's role in local capital markets development and get product specific approvals enabling IFC to offer various local currency products and solutions.
Participate on behalf of treasury in IFC wide task forces and working groups.
Develop and deliver a one stop shop for above mentioned treasury solutions.
Master's or higher degree in finance, economics or related major.
At least 12 years of professional experience in structuring financial products as mentioned above in emerging market countries. Broad and deep knowledge of financial markets, products, and participants - especially fixed income and financial derivatives, experience with local currency products and structured products. Thorough knowledge of financial theory and techniques, corporate finance, financial markets, and derivatives.
Thorough understanding in managing interest rate and currency risks in treasury's context.
Significant experience of the regional markets, prevailing regulations, financial products availability, and hands-on experience of structuring and delivering treasury products mentioned above, dealing with regulators in local markets and strong relationships with important market counterparts in the region.
Strong team player with ability to collaborate seamlessly with colleagues within the department, across the VPU and across the business.
Proven ability to successfully engage senior decision makers on complex technical and policy issues.
Excellent interpersonal and communication skills including the ability to present complex and technical issues in simple terms.
Flexibility and willingness to work in different time zones required in a global team.
Understanding IFC's financial and business activities.
Highest ethical standards.
World Bank Group-wide managerial selection criteria include: (i) Courage of your convictions, (ii) Leading the team for impact, (iii) Influencing across boundaries, (iv) Fostering openness to new ideas, and (v) 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.
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