IDB Invest Managing Director Operations Division
Washington, DC
The IDB Group is a community of diverse, versatile, and passionate people who come together on a journey to improve lives in Latin America and the Caribbean. Our people find purpose and do what they love in an inclusive, collaborative, agile, and rewarding environment.
About this position
IDB Invest has five Departments: Investment Operations, Strategy and Development, Risk Management, Legal, and Finance and Administration (FNA). FNA is made up of 4 divisions, including Controllership, Treasury, Analytics, Knowledge and Information and Operations.
IDB Invest's business has significantly increased in size and complexity. Since 2016, more than 220 operations reaching over US$12 billion have been approved. At the end of 2019, a new Business Plan covering the 2020-2022 period was approved, projecting a 25% increase in business flow and 20% in projects under supervision. Given this, it is a strategic priority to strengthen the back-office functions of the institution, including those related to finance, loan disbursements, loan servicing, accounts receivables & payables, and to treasury settlements and cash management.
The team: The Operations Division (OPD) is comprised of transaction services, including covenant monitoring, spreading & analysis, disbursement processing, screening, and trade & supply chain finance support, as well as financial and administrative services, including financial operations, treasury operations, and document management. The division is actively involved in the implementation of process improvements and efficiencies, including the implementation of various technology initiatives.
The successful candidate should have a strong background in managing, implementing, and executing banking operations and managing dynamic teams. As Managing Director of the Operations Division, you will report to the FNA Manager.
What you will do:
Provide advice to the Chief of Finance and Administration and the Senior Management Team on OPDโs (back office and middle office) strategy and other related topics. Lead the implementation of the operational strategy defined by Senior Management. Establish and implement the strategic direction of IDB Investโs operations and ensure scalability. Manage, monitor, and coordinate the activities related to financial and administrative services, including but not limited to:a) Transaction registration and administration in finance systems, client billing, and collection.
b) Treasury settlements, payments & accounts management, corporate payments & collection.
c) Electronic archiving and document management.
Manage, monitor, and coordinate the activities related to transaction services, including but not limited to:a) Covenant management and collateral tracking.
b) Financial statement spreading & analysis.
c) Disbursement processing and coordination.
d) Integrity and anti-money laundering screens for clients and vendors.
Working in close collaboration with team leaders, product managers, risk managers, and other key stakeholders, the Managing Director of Operations ensures that the operational strategy is in alignment with the overarching business objectives and priorities. Play a pivotal role in supervising the operational activities, processes and systems end-to-end. Keep abreast of industry developments including, but not limited to, changes in regulations and best operational practices; ensure adherence to institutional policies and procedures. Define and implement critical metrics and workflows to achieve operational efficiency, effectiveness, and productivity and continually evaluate reporting needs. Identify, recommend, and implement new processes or additional functions. Coordinate with the IT team in the implementation of systems and applications related to efficiencies. Identify, design, and implement new projects for the improvement of operations processing and payments, serving as a key stakeholder for all aspects of the project life cycle (design, development, testing, and implementation). Contribute to process design, test script construction, testing, and implementation. Manage, coach, and motivate a team of highly qualified individuals based in Headquarters (Washington, DC) and in the region (LAC). Organize required training, support a learning organization; identification of future potential successors, coaching and guidance to others. Promote and maintain a positive work atmosphere by communicating in a consistent manner with professional standards to work effectively with employees, co-workers, the Management team, and vendors.What you will need:
Education: Masterโs, MBA, or equivalent in accounting, finance, business administration, economics, or other relevant fields. Experience: Proven background in managing, implementing, and executing banking operations. More than 15 years of experience acting in a similar role in the private sector, private banks, investment firms, corporate and investment banking sector, or development finance institutions focused on the private sector; having worked in different cultural settings, preferably in Latin America. Substantial understanding of a wide variety of financial products and services and experience in their related operational processes. Strong understanding of the regulatory environments of the countries where the IDB Invest operates. Verifiable experience in implementation and supervision of specialized middle and back-offices, including but not limited to Treasury operations, loan services, compliance, covenant tracking, financial analysis, disbursement processing, syndication, agency services, trade and supply chain finance, payments, Swift, banking reconciliation, billing, and supplier payments, in the global banking arena. Strong change management experience in an evolving and complex environment to identify and inspire change to best serve the needs of the organization in the future. The ability for strategic thinking. High analytical and problem-solving skills required, with a clear ability to add value through creative thinking, in-depth, and disciplined analysis, and effective monitoring of metrics and results. Ability to use innovation to create new tools/pilots, keep abreast with new technologies, and drive change. Strong client services orientation, collaborative approach, fostering and maintaining effective relationships with internal and external stakeholders. The capacity to plan and manage human resources and operations to achieve quality results in a productive and financially sustainable manner. Languages: Oral and written professional proficiency in English and Spanish required; knowledge of Portuguese and/or French is a plus.
Key Skills:
Mentor and develop. Promote Diversity, Equity, Inclusion and Belonging. Build Lean and Versatile teams. Lead change and Transformation. Create Partnership.
Requirements:
Citizenship: No requirement. Consanguinity: You have no family members (up to fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB Group.
Type of contract and duration:
International staff contract, 36 months initially, renewable upon mutual agreement.
What we offer:
The IDB Group provides benefits that respond to the different needs and moments of an employeeโs life. These benefits include:
A competitive compensation package. Leaves and vacations: 24 days of paid time off + 8 personal days + sick leave + gender- neutral parental leave. Health Insurance: IDB Group provides employees and eligible dependents with a robust medical benefits program which covers medical, dental, vision, preventive care, and prescription drugs. Pension plan: defined benefit pension plan that provides financial security and support employees in planning for their future. We offer assistance with relocation and visa applications for you and your family, when it applies. Hybrid and flexible work schedules. Health and wellbeing: Access to our Health Services Center which provides preventive care and health education for employees. Development support: We offer tools to boost your professional profile such as mentoring, 1:1 professional counseling, training and learning opportunities, language classes, mobility options, among others. Other perks: Lactation Room, Daycare Center, Gym, Bike Racks, Parking, Spouse Career Program, and others.