Role Purpose: To be responsible for identifying, evaluating, and analyzing funding requirements and opportunities in various capital markets with the aim of raising medium and long-term funds at competitive costs for the Islamic Development Bank (IDB).
The role is also responsible for handling and executing funding-related operations, Swap-related activities & operations undertaken to manage the liabilities positions, and the activities related to the IDB share capital management.
KEY ACCOUNTABILITIES & ACTIVITIES: – Assist in developing financial projections and liquidity and currency needs of IDB to determine medium and long term funding and currency requirements.- Conduct in-depth research on funding opportunities in various capital markets in member and non-member countries and identify suitable opportunities for issuance of Sukuk to achieve the Bank’s funding objectives.- Conduct in-depth review and analysis on Shariah compliance various funding instruments and structures to raise medium and long terms funds.- Participate in evaluating and monitoring markets risk exposure related to Sukuk and Swaps and propose appropriate recommendations for consideration of the ALCO.- Assist to coordinate the selection and appointment of all necessary stakeholders in order to facilitate the Sukuk issuance process.- Assist to coordinate the documentation of new funding/Sukuk with internal and external parties, such as external legal advisors, external auditors, rating agencies, and lead managers to ensure timely and accurate completion of such documents.- Coordinate IDB Sukuk roadshows and prepare the necessary arrangements to meet IDB existing and potential investors- Carry out all Sukuk-post issuance operations including the settlement of periodic coupon payments, payments of fees of various service providers, preparations of asset service reports…etc.- Participate in performing the maintenance and update activities related to the IDB Sukuk issuance programs.- Conduct market intelligence to increase the IDB’s Swap counterparties and seek attractive Swap deals for the Bank’s hedging requirements.- Assist to finalize the necessary agreements and documentations with Swap counterparties – Conduct financial analysis and develop comprehensive reports on IDB Swap outstanding positions.- Monitoring and settlement of all Swap positions and related payments.- Undertake periodical revaluation of the Swap positions as per the requirements of the Financial Department for preparing the IDB financial statements.- Input new swap deals and update the swap transactions in the Misys.- Ensure compliance with external regulations and stipulated capital markets guidelines- Ensure full compliance with all internal guidelines and policies related to the capital market activities and operations- Ensure full compliance with the terms and conditions of Sukuk issuance and hedging transactions as per the relevant agreements signed with various counterparties – Attend to all enquiries by the Management and member countries related to their shareholding in IDB capital- Prepare proposals to the BED and BOG for special capital increases if requested by the member countries.- Participate in developing suitable IT systems to Sukuk operations, capture share capital activities, and coordinate with IT Department as needed. – Coordinate the follow up activities with country managers, regional offices, field representatives, and relevant officers in the member countries.- Update the information on capital market activities on the IDB website.- Prepare Sukuk performance reports in coordination with FCD- Develop and present periodical reports as required by the division / department management for submission to ALCO, MCM, BED, and other related committees. – Prepare periodical reports on share capital activities for submission to the management committee, BED, BOG, rating agencies and other relevant parties – Prepare letters to member countries for instalments payments, collection of due/overdue amounts, and other related correspondences- Prepare various reporting on Sukuk activities to the ALCO, BED Finance Committee, and other forums
Academic and Relevant Experience Requirements:
Minimum of Bachelor’s Degree in Accounting/ Business Administration/ Economics/ Finance/ Islamic Finance
or any relevant discipline.
8 years of working experience for Bachelor holders
5 years of working experience for Master holders
3 years of working experience for Doctorate holders
Skills & Competencies: Ideal candidates will possess the below, but not limited to the following:
Knowledge of corporate finance, fixed income, and capital markets principles.
Knowledge of Shariah compliant capital markets instruments and hedging products.
Knowledge of policies, procedures, and regulations related to the capital markets transactions.
location: IDB HQ Offices – Jeddah, Kingdom of Saudi Arabia
Employer want to submit job applications through their website at: Apply Online