Job Description
To be responsible for managing the Bank’s long-term external shariah-compliant funding activities through capital markets, share capital subscriptions and ensure the market-competitiveness of its funding costs commensurate with the Bank’s high rating. In addition, to manage the short-term resource mobilization of funds through the money markets to meet liquidity objectives and disbursement needs. To establish and maintain good working relationships with major institutional investors and financial institutions. To contribute to the innovation process for new shariah-compliant funding tools and manage the organization of the IDB’s annual International Sukuk Conference.
Roles and Responsibilities:
General Responsibilities:
- Manages resource mobilization activities from shariah-compliant capital and money markets for IDB-OCR through appropriate instruments e.g. Sukuk issuance and Reverse Murabaha transactions, taking into account funding requirements
- Structures the issues and obtains clearance from the relevant committees as well as approval from Management and Board of Executive Directors
- Selects lead managers, trustees, paying agents and other related parties for capital markets’ activities
- Executes swap transactions in accordance with approved policy and procedures
- Continues to increase the number of swap counter-parties that the Bank interacts with for transactions
- Conducts deal and non-deal road shows solely or in co-ordination with the selected lead managers for Sukuk issuance
- Submits regular written reports to IDB Management and relevant Committees and the Board of Executive Directors on the progress of IDB’s Sukuk issuances and other related activities
- Advises member country institutions, upon request, on structuring and issuing Sukuk and overall development of the Islamic capital markets
- Manages the subscriptions related to IDB Share Capital.
- Coordinates with the Treasury Operations & Settlements unit and Financial Control unit on payments outstanding and received and the issuance of payment confirmations
- Contributes with the unit for product development, new shariah-compliant funding tools.
- Contributes to the development of Treasury unit’s budgeting process
- Develops key results’ targets and performance indicators (KPIs) related to strategy and operational plans of the unit
- Represents the Bank in external forums on matters of Capital Markets and Sukuk
- Coordinates and manages the organization of significant flagship events such as the International Sukuk Conference
Leadership Responsibilities:
- Coordinates the provision of advisory services and technical guidance in matters related to capital markets to IDB organizational units
- Provides motivational and inspirational leadership for the unit, and communicates to direct reports clear performance expectations
- Manages the performance and resources of the unit through delegation of responsibility, setting stretch objectives and providing regular feedback on results at a unit level, promptly addressing areas of underperformance.
- Monitors and assesses the skills and capabilities of the unit, and determines the actions needed to increase the unit’s impact
- Supports filling in key capability gaps of teams through capacity development and recruiting efforts
- Coaches, mentors and develops the direct reports and the top talent/high potential staff
- Acts as a role-model to communicate to the unit’s staff IDB’s values and leadership competencies and provides direction and support in times of change.
Qualifications / Experience:
Academic Qualifications:
- Master’s degree Accounting/ Finance/ Economics/ Business Administration or related discipline.
Work Experience:
- 6+ years of capital markets experience
- Prior experience with product innovations in Islamic Finance (Required)
- Prior international work experience (Required)
- Prior experience in major investment bank (Required)
Languages:
- Fluent in oral and written English language - Required
- Fluent in oral and written Arabic language - Preferred
- Fluent in oral and written French language - Preferred
Job Technical Skills:
- Good understanding of Shariah products, services/ Islamic banking principles
Working Conditions:
- Job will be based in IDB’s headquarters in Jeddah, KSA
- Travel as needed
