Financial Specialist

We improve lives

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, and rewarding environment.

About this position

We are looking for an energetic, collaborative, and highly motivated Financial Specialist with significant subnational lending expertise to work alongside our technical experts to implement IDB’s new Sub-Sovereign Finance Program (SFP). The SFP is a 5-year pilot program to extend investment loans and guarantees to sub-sovereign eligible entities – including municipalities, states and provinces – without a sovereign guarantee.

IDB has a strong presence in the region, lending on average USD 2billion annually, through its sovereign guaranteed window, to support subnational governments in a variety of sectors. The SFP will introduce a new type of lending, enabling IDB to lend to creditworthy subnational entities to finance bankable projects without a sovereign guaranty. For many cities and other subnational entities, loans under the SFP will be the first time they are borrowing on a commercial basis.

Loans extended under the SFP are not designed to compete with other sources of financing; rather these loans will be designed to act as a demonstration effect to other lenders and to catalyze private sector financing. Thus, IDB may lend under the SFP alongside other lenders to fill a funding gap. Critical to these loans will be the borrower’s ability to generate new revenue streams or demonstrate real cost savings to support debt repayment. To ensure loans are bankable, SFP loans will include a variety of measures, including new revenue sources or capturing cost savings. Measures such as land value capture, fiscal reform or affordable fees and tariffs will be critical to loans proposed under the SFP.

You will work in the Housing and Urban Development Division (HUD), part of the Climate Change and Sustainable Development Sector (CSD). This team is responsible for providing strategic guidance and analytical and operational support to the institution and its clients in subnational planning, sustainable and resilient urban development, and housing.

What you’ll do

The Financial Specialist will contribute to all phases of the project cycle, including origination, structuring execution, implementation and monitoring. The Specialist will take responsibility for tasks such as comprehensive due diligence, including financial, market and integrity as well as effective post signing implementation and monitoring.

Structuring and Execution

• Work as a team member on SFP’s sub sovereign transactions, contributing to all aspects of project execution, including comprehensive research and analysis of background materials, market information and financial performance data.
• Analyze and evaluate potential project-related risks, including analysis of financial statements.
• Prepare and update financial models and financial projections, working closely with other relevant internal departments.
• Contribute to approval of documents by preparing concise project financial analyses with a comprehensive summary of financial risks and mitigants.
• Assist with the design and processing of technical cooperation assistance to support the related investment project and or related policy dialogue and fiscal reform initiatives.
• As may be requested, assist with communication with other IDB internal units, clients and key stakeholders at the operational level, such as preparing draft correspondence, presentations, etc.
• Help design appropriate technical assistance to support investments under SFP that contribute to policy dialogue and capacity building initiatives that promote creditworthiness and improved sector bankability.
• Ensure that all transactions within his/her responsibility are completed within the specified time frames to a high standard (including all internal memoranda and Board reports) and in line with the policies, procedures and objectives of IDB.

Portfolio Monitoring and Reporting

• As requested by the Chief or other senior staff, undertake assigned tasks relating to the implementation and monitoring of projects under the SFP, which the Specialist is assigned to as part of the project team, including compliance with project agreements and IDB procedures relating to the disbursement, progress of implementation as well as the financial performance of the client and project, assessing evolving risk factors and monitoring and assessing covenant compliance.
• Timely prepare draft monitoring reports and include recommendations for corrective actions, where required.
• Assist with the implementation and monitoring of Technical cooperation (TC) assignments, including communication with TC client, monitoring of TC fund usage, preparation and filing of relevant TC progress and completion reports to meet donor report requirements.
• Other responsibilities, designed to allow the Specialist to progressively undertake more complex tasks and build experience and expertise.

What you’ll need

Education: Master’s degree in economics, finance, or a related field. Internationally recognized professional qualification such as ACA, CFA, ACCA, or CIMA is desirable.

Experience: At least four years of relevant professional and international experience in the financial industry, preferably with a leading investment or commercial bank or international financial institution. Strong quantitative/numerical skills are essential with the ability to interpret financial information and to design, use and review financial models. Credit analysis skills, with the ability to interpret accounts, understanding local and international accounting principles and practice of credit analysis.

Languages: Proficiency in English and Spanish, spoken and written, is required.

Requirements

• Citizenship: You are a citizen of one of our 48 member countries. We may offer assistance with relocation and visa applications for you and your eligible dependents.
• Consanguinity: You have no family members (up to the 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, including an annual base salary expressed on a net-of-tax basis.

–Leaves and vacations: 24 days of paid time off + 8 personal days + sick leave + gender-neutral parental leave.

–Health Insurance: 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: defined benefit pension plan that provides financial security and support employees in planning for their future.

-We offer assistance with relocation and visa applications for you and your family when it applies.

–Hybrid and flexible work schedules.

–Health and well-being: Access to our Health Services Center that 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, we work so everyone brings their best and authentic selves to work while finding their purpose. Our people consistently strive for excellence, and we recognize and celebrate the impact of their contributions.

In our efforts to drive innovation, we intentionally include all voices, cultivate a sense of belonging and champion fairness. We welcome individuals from underrepresented groups to join us and share their unique perspectives.

We ensure that individuals with disabilities are provided reasonable accommodations to participate in the job interview process. If you require an accommodation to complete this application, please email us at accommodations@iadb.org.

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