Job Title: Senior Portfolio Assistant
Hiring Organization: World
Bank
Location – Locality: Nairobi
Location – Region: Kenya
Industry: Financial
Services
Job Type: Full
Time
Salary: KES
Competitive
Date Posted: 03/14/2024
The
Manufacturing, Agribusiness & Services (MAS) Industry Group plays an
important role in supporting IFC’s 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 IFC’s 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:
- 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.
- Perform
research, desk information gathering, and data analysis as requested by
the RIHO related to the department’s operations and strategies.
- Collect,
consolidate, and ensure consistency of data from different sources,
including from IOs and IAs.
Equity
Investments:
- Keep
track of equity sales plans and assist in the preparation of semiannual
updates of IFC’s Equity Sales Plan.
- Assist
in preparing dividend reports / annual dividend projections in close
coordination with portfolio teams, CFA and Equity Management Desk.
- Analyze
equity risk/return performance of the profit center as needed.
- 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.
- Prepare
equity valuation variance report.
Credit/equity
ratings and loss reserves:
- 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 – for fund investments) and loan loss reserves.
- Assist
in preparing the Credit Watch List, in coordination with Portfolio
Officers.
- Prepare
IRP migration report.
- Assist
in analyzing the Arrears report and follow up with clients to ensure
timeliness payment.
Project
Handovers and Closures:
- Ensure
adequate completion of project handover processes when needed. Identify
projects that are candidates for closure in IFC’s systems and follow up
with Portfolio Officers and provide guidance to portfolio teams on
conditions for closing.
PA
network:
- Foster
the network of Portfolio Assistants and Portfolio Analysts of other
regional industry groups.
Directorships:
- 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.
Knowledge/Best
Practice:
- 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.
Client
Survey:
- Coordinate
the compilation of the Department’s data pertaining to IFC’s Client
Survey.
Cash
Monitoring:
- Monitor
cash transactions of the Unit (debt service, dividends, fees, equity sales
proceeds, etc.) and support the team’s effort in the collection, analysis
and reporting of profitability indicators.
Data
quality/IT:
- 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.
Supervision:
- 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:
- Contribute
to the yearly AIMM Exercise and the timely collection of key developmental
indicators.
E&S
and Insurance:
- 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:
- 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.
- Provide
systematic oversight, including performing internal audits, to clients’
compliance with reporting requirements, collection and invoicing of fees,
and proper filing of reports, legal documents, correspondence, and other
relevant documentation, including on updating IFC’s systems to track
receipt of reports from clients.
- Support
the quarterly Compliance Review meetings by scheduling meetings, compiling
materials, identifying areas of risk and concern, and benchmarking
performance for the division.
Portfolio
actions log:
- Prepare
a monthly log of Portfolio Actions (based on portfolio statistics) and
track approval workflow status.
MOR:
- Track
timely submission of Monthly Operations Report (MOR) on cancellations,
prepayments and other major changes in IFC’s investments) to the Board.
Scorecard:
- In
cooperation with portfolio team, seek to achieve 100% compliance on
Departmental Scorecard.
- Review,
analyze and provide feedback on Departmental Scorecard results.
Teamwork
and coordination:
- Model
excellent teamwork behavior, including smooth and prompt communication,
improvement mindset, and achieving highest results for the team.
- Closely
coordinate work with Portfolio Manager as well as entire MAS North and
East Portfolio team.
- Coordinate
tasks as needed with other departments including CPM, CES, CIRIN, CNT, CRM
etc.
- 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
- Bachelor’s
degree (Accounting or Finance degree preferred) or High school diploma
with a minimum of 5 years of experience.
- Experience
as Portfolio Assistant at IFC.
- Excellent
knowledge of relevant portfolio databases and systems (e.g., IRP, iPortal,
iDesk, EPMS, ODS, MIS, Cognos, Cubes) and relevant computer software
(Word, Excel, PowerPoint, Outlook); and aptitude to learn new systems.
- Knowledge
of financial statements and understanding of financial and profitability
analysis.
- Strong
knowledge of IFC’s portfolio procedures and processes.
- Excellent
organizational, administrative and time management skills with proven
ability to work independently, promptly, and efficiently under pressure
and meet tight deadlines.
- Outstanding
interpersonal skills and the ability to work with people at all levels
(inside and outside IFC) with demonstrated team spirit and responsiveness.
- High
level of accuracy and attention to detail with sound analytical skills.
- Ability
to think independently, analyze problems and identify appropriate
solutions.
- Strong
written and verbal communication skills.
- High
level of discretion and confidentiality.
- Fluent
in English. Arabic and/or French preferred although not required.