ย
ย Description
IFC โ a member of the World Bank Group โ 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
The Manufacturing, Agribusiness & Services (MAS) Industry Group plays an important role in supporting IFCโs strategic priorities, covering investments in global manufacturing and services, agribusiness, health, and education. MAS sectors play a critical role in providing goods and services to consumers, addressing core needs, creating jobs, contributing to government revenue and stimulating growth. In IFCโs client countries, these sectors can account for as much as 80% of overall economic activity and can account for up to 90% of employment activity, particularly in the poorest countries.
The Central Operation Unit of MAS Industry Group is seeking to recruit a Senior Portfolio Assistant to support investment staff in the supervision and management of IFC's investment portfolio, business processing, operation and strategy in the region. The incumbent will be an integral member of a team of Investment Officers (IOs) and Investment Analysts (IAs) working under the oversight of the Regional Industry Head of Operations (RIHO).
The duty location for this Senior Portfolio Assistant position will be Nairobi, Kenya or Johannesburg, South Africa.
Duties and Accountabilities
Analytics Support and Data Collection:โขย Provide analytical support to the RIHO by extracting data from management information systems (MIS) and preparing materials for the regular analyses and presentations to unit management for portfolio reviews including, portfolio changes and trends, issues, risks, economic capital, profitability, loan loss reserves, and compliance.โขย Perform research, desk information gathering, and data analysis as requested by the RIHO related to the departmentโs operations and strategies.ย โขย Collect, consolidate, and ensure consistency of data from different sources, including from IOs and IAs.
Equity Investments:โขย Keep track of equity sales plans and assist in the preparation of semiannual updates of IFC's Equity Sales Plan.โขย Assist in preparing dividend reports / annual dividend projections in close coordination with portfolio teams, CFA and Equity Management Desk.โขย Analyze equity risk/return performance of the profit center as needed.โขย Assist in preparation of quarterly equity valuation list and in the follow up with Portfolio Officers on the timely update of equity valuations and equity ratings.โขย Prepare equity valuation variance report.ย
Credit/equity ratings and loss reserves:โขย Track and assist in monitoring and ensuring the timely completion of updated risk ratings and related documents for all the portfolio companies as required under the Investment Risk Platform (IRP), Credit Risk Ratings (CRR โ for fund investments) andย loan loss reserves.ย โขย Assist in preparing the Credit Watch List, in coordination with Portfolio Officers.โขย Prepare IRP migration report.ย โขย Assist in analyzing the Arrears report and follow up with clients to ensure timeliness payment.ย
Project Handovers and Closures:โขย Ensure adequate completion of project handover processes when needed.ย Identify projects that are candidates for closure in IFCโs systems and follow up with Portfolio Officers and provide guidance to portfolio teams on conditions for closing.ย
PA network:โขย Foster the network of Portfolio Assistants and Portfolio Analysts of other regional industry groups.ย
Directorships:โขย Provide leadership in tracking compliance with documenting procedures relating to nomination, apportionment, indemnity and resignation of directors, including maintaining IFS Directorship Database and following up on the timely submission of back-to-office reports and Annual Director's reports.ย
Knowledge/Best Practice:โขย Provide knowledge management and retention application of best practices and IFC standards across the Unit. Act as all-around portfolio support/helpdesk on policies, procedures, and best practices.ย
Client Survey:โขย Coordinate the compilation of the Departmentโs data pertaining to IFCโs Client Survey.ย
Cash Monitoring:โขย Monitor cash transactions of the Unit (debt service, dividends, fees, equity sales proceeds, etc.) and support the teamโs effort in the collection, analysis and reporting of profitability indicators.ย
Data quality/IT:โขย Resolve data quality issues in IFC systems, checking equity valuations entries, ensure consistency of information in various reports. Act as expert/information quality steward for the Unit. Provide analytical and programmatic support to process improvements and related IT initiatives.ย
Supervision:โขย Upon request, participate in supervision projects and provide portfolio Assistant support for those. Assist in the preparation of project supervision related documents under close guidance from the relevant portfolio investment staff.
AIMM:โขย Contribute to the yearly AIMM Exercise and the timely collection of key developmental indicators.ย
E&S and Insurance:โขย Monitor compliance of insurance and environmental and social (E&S) requirements of all portfolio clients, including follow up with portfolio teams on expiring reports and actions to be taken to address deficiencies, and coordination with E&S department and insurance unit to ensure a timely review or reports and update of scores.
XPSRs:โขย Coordinate and assist in monitoring timely completion of extended project supervision reports (XPSRs) by assisting in determining the sample of eligible projects, setting up delivery dates and tracking progress to ensure compliance.ย โขย Provide systematic oversight, including performing internal audits, to clientsโ compliance with reporting requirements, collection and invoicing of fees, and proper filing of reports, legal documents, correspondence, and other relevant documentation, including on updating IFCโs systems to track receipt of reports from clients.ย โขย Support the quarterly Compliance Review meetings by scheduling meetings, compiling materials, identifying areas of risk and concern, and benchmarking performance for the division.ย ย ย
Portfolio actions log:โขย Prepare a monthly log of Portfolio Actions (based on portfolio statistics) and track approval workflow status.ย
MOR:โขย Track timely submission of Monthly Operations Report (MOR) on cancellations, prepayments and other major changes in IFCโs investments) to the Board.
Scorecard:โขย In cooperation with portfolio team, seek to achieve 100% compliance on Departmental Scorecard.ย โขย Review, analyze and provide feedback on Departmental Scorecard results.
Teamwork and coordination:โขย Model excellent teamwork behavior, including smooth and prompt communication, improvement mindset, and achieving highest results for the team.ย โขย Closely coordinate work with Portfolio Manager as well as entire MAS North and East Portfolio team.โขย Coordinate tasks as needed with other departments including CPM, CES, CIRIN, CNT, CRM etc.โขย Provide leadership, in taking ownership of own tasks and in coordinating the portfolio compliance function with other Portfolio Analyst / Portfolio Assistant. Be ready to learn on the job and provide on the job training if and as needed.
Selection Criteria
โขย Bachelorโs degree (Accounting or Finance degree preferred) or High school diploma with 10 years of experience or equivalent combination of education and a minimum of 5 years of experience.ย โขย Experience as Portfolio Assistant at IFC.ย