Chief of Finance and Administration  

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 the position:

As the innovation laboratory of the IDB Group, IDB Lab mobilizes financing, knowledge, and connections to promote innovation for inclusion in Latin America and the Caribbean (LAC). IDB Lab co-creates projects with innovative private sector solutions to improve the lives of those who are poor and vulnerable due to economic, social, or environmental factors in the LAC region.  IDB Lab has a high tolerance to risk and employs an array of flexible various finance instruments like, loan and equity. 

We are looking for a highly qualified professional to lead its Finance and Administration (FIA) unit, reporting to IDB Lab’s CEO. 

The FIA Unit currently comprises a team of 4 employees at headquarters. The extended team is larger, since FIA delivers its work through a combination of business-embedded, business-aligned, and shared services. FIA works collaboratively across IDB Lab units and with other parts of the IDB Group, particularly the IDB Vice-presidency of Finance. FIA is responsible for supporting and contributing to the execution of IDB Lab’s operational program and mandate in LAC through the delivery of efficient and effective corporate products & services, efficient human and financial resource mobilization, detailed financial management, a robust risk management framework and sound information technology platforms. Key results within the next year include developing an enhanced process for people management – encompassing hiring, training, incentives; improving the financial model and projections; implementing an enhanced financial risk management suited to IDB Lab’s high-risk investments and extensive venture capital portfolio; and carrying out key reforms in corporate processes to underpin IDB Lab’s implementation of the MIF IV model. 

What you’ll do:

The role entails activities for the daily management of the finances, risk management, and people matters at IDB Lab, as well as providing inputs to the Chief Strategy Officer of IDB Lab for strategic initiatives, most importantly to support the long-term sustainability of IDB Lab and the implementation of the recently approved additional capital for IDB Lab (MIF IV) and the future model post-MIF IV.

• Prepare financial projections and contribute to the creation and deployment of a successful funding and liquidity management model for IDB Lab.
• Manage and regularly review for efficient performance the system of Service Level Agreements (SLAs) with other parts of the IDB Group, the operations of the Service Center, and the use of special funds (such as the Productivity Fund).
• Deliver quality corporate products and services that support IDB Lab’s operational work within planned schedules by focusing on the value that is brought to internal and external clients to achieve business outcomes optimally and efficiently.
• Provide the best customer-focus solutions to clients (the operational teams), cost-effective transactional processes, and optimized business processes, ensuring compliance with relevant IDB Group’s policies and safeguards.
• Support the execution of the IDB Lab’s operations and work programs using risk-based management tools and focusing on development results. This includes developing and supervising implementation of an overarching risk management framework at project, portfolio, and entity levels. Measure and manage portfolio risk. Keeps track of long-run planning and alerts the CEO and the rest of the Leadership Team (LT) of potential deviations to minimize departures from projections. Liaise with all risk functions across the IDB Group to ensure their service is well coordinated and meets the needs of IDB Lab.
• Spearhead efforts to allocate resources efficiently and to increase cost-efficiency and effectiveness as well as to actively support the Chief of Strategy and operational units to mobilize third party resources. In this vein, oversee the administration and management of the IDB Lab’s financial and human resources, physical assets, corporate services, and their deployment, as well as timely, realistic, and comprehensive resource allocation and planning based on the IDB Lab’s priorities. This includes the preparation of the annual budget and reporting on budget execution, as well as the negotiation with internal/external service providers.
• Ensure the timely and quality reporting of internal information to support decision-making and resource re-allocation. This includes support for audit processes, long-term business plan and analytical work for IDB Lab’s options for future sustainability.
• Contribute to supervising and foster a decentralized and data-driven culture focused on results by promoting behaviors that improve the ability to achieve performance targets at the institutional, business unit, and individual levels.
• Lead a constructive and effective dialogue with members of the Donors Committee and the board on subjects under the span of control of FIA and obtain approval (under the lead of the Chief Strategy Officer) of key strategic documents such as the annual budget and work program.
• Lead the implementation of a people strategy, including resource planning, recruitment, compensation, retention, engagement, and training.

Education: You hold a Master’s or equivalent Licenciatura/advanced degree, in accounting, finance, business administration, economics, information systems, or related field. CFA designation is a plus. 

Experience: You have a minimum of 10-12 years of relevant corporate experience for sophisticated operations, including the areas of development, finance, and information technology, and preferably in an international environment. Exposure and familiarity with venture capital investments and products. At least 3 years in managerial positions is a plus.

Track record in talent management is plus. 

• Thorough training and proven expertise in financial modelling, liquidity management, risk management, accounting and finance.
• Deep understanding of client needs and challenges, of different country/regional areas, market idiosyncrasies, international development agenda and drivers of impactful change in Latin America and the Caribbean.
• Budget knowledge, finance, bank policies and systems, and human resources management.
• Operational knowledge of project management, knowledge management, impact evaluation and digital transformation.
• Substantial understanding of planning and executing financial strategies, and in formulating, implementing, and evaluating financial policy, instruments, and services, and risk management, with clear accountability for profit and loss. 
• An understanding of the operational frameworks of public sector and/or multilateral institutions (including their special governance, mandates, safeguards, and human resources structures).
• Understanding of, and experience with capital markets and capital market activity, including the mechanics of investments, funding, swaps, liquidity management, asset/liability management, and derivatives.  Understanding and experience with valuation models and financial projections is highly desirable, as is an understanding of project finance.   

Languages: You are fluent (written and oral) in both English and Spanish. Deep knowledge of Portuguese and/or French is a plus.

Key Skills: Financial management, modelling and planning, accounting, corporate finance, people management, risk management, venture capital investments.

Mentor and develop.

• Promote Diversity, Equity, Inclusion and Belonging.
• Build Lean and Versatile teams.
• Lead change and Transformation.
•  Create Partnerships.

Requirements:

• Citizenship: citizen of one of our 48-member countries. We may offer assistance with relocation and visa applications for you and your eligible dependents.
• Consanguinity: have no family members (up to fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB, IDB Invest, or IDB Lab.

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 employee’s life. These benefits include:

A competitive compensation package.

• Leave and vacation: 24 days of paid time off + 8 personal days + sick leave + gender-neutral parental leave.
• Health Insurance: The IDB Group provides employees and eligible dependents with a robust medical benefits program that covers medical, dental, vision, preventive care, and prescription drugs.
• Pension plan: pre-defined pension plan that provides financial security and supports employees in planning for their future.
• 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.  

Our culture:

At the IDB Group we work so everyone brings their best and authentic selves to work, willing to try innovative approaches without fear, and where they are accountable and rewarded for their actions.

Diversity, Equity, Inclusion and Belonging (DEIB) are at the center of our organization. We celebrate all dimensions of diversity and encourage women, LGBTQ+ people, persons with disabilities, Afro-descendants, and Indigenous people to apply.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job interview process. If you are a qualified candidate with a disability, please e-mail us at [email protected] to request reasonable accommodation to complete this application.

Our Human Resources Team reviews carefully every application.

About the IDB Group

The IDB Group, composed of the Inter-American Development Bank (IDB), IDB Invest, and the IDB Lab offers flexible financing solutions to its member countries to finance economic and social development through lending and grants to public and private entities in Latin America and the Caribbean.

About IDB Lab

IDB Lab is the innovation laboratory of the IDB Group, the leading source of development finance and expertise for improving lives in Latin America and the Caribbean. The purpose of IDB Lab is to drive innovation for inclusion in the region, mobilizing financing, knowledge, and connections to test early-stage private sector solutions with the potential to transform the lives of vulnerable populations affected by economic, social, and environmental conditions. Since 1993, IDB Lab has approved more than US$ 2 billion in projects deployed across 26 countries in Latin America and the Caribbean.

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