IDB3301 – Principal, Direct Finance – (Istanbul) – ICD

Role Purpose:

The Principal, Direct Financing Division, is expected to actively contribute and participate in the tasks and processes of deal origination, structuring, due diligence, negotiation, credit approval, coordination for financing documentation & completion of conditions precedents, disbursement, portfolio management etc. The geographical coverage of the role shall include Member Countries (MCs) of ICD in the Central Asia as well as Türkiye and Albania (ECA Region). The sectoral coverage shall include infrastructure, energy & water, mining, manufacturing, agribusiness, services, etc. The precise sectoral and geographical coverage and focus shall be determined and may shift from time to time depending on the evolving business needs of the Division.

The Direct Financing Division of ICD handles Islamic debt financing to all real sectors and non-financial services sector clients of ICD. The Division’s geographical scope inlcudes all 56 Member Countries (MCs) of ICD. The sectoral scope includes but not limited to manufacturing, agribusiness, infrastructure, energy, power, water, mining, contracting & other services, etc.

Key Functional Accountabilities and Activities:

Project Sourcing & Origination:

• Originate new bankable deal opportunities that are in line with the risk appetite of the Corporation and target market sheet of the Banking Department.

• Maintain relationships in the target ICD MCs and outside, as required, to promote ICD’s term direct finance products, services and highlighting ICD’s value proposition.

• Propose and execute client origination and sourcing strategy including identification of target countries, target products, target sectors and development goals.

• Collect Know Your Customer (KYC) documents from the clients and work closely with the Legal & Compliance Department for their required compliance clearance.

• Participate in carrying out the client onboarding process.

• Actively participate and support as appropriate the supervisor/head in the preliminary appraisal stage to assess the feasibility of potential financing proposals / projects in alignment with ICD’s credit appetite, strategy and development objectives.

• Participate in the preparation and negotiation of mandate letters with the client and have the same executed after obtaining necessary internal clearances.

Project Appraisal & Approval:

• Obtain necessary client and project documents and details to prepare a transaction proposal.

• Coordinate internally and externally to ensure selection and appointment of external advisers to support the due diligence and documentation.

• Undertake preliminary review of potential financing proposals, run preliminary rating exercise through Credit Lens, develop a financing concept document for preliminary clearance/endorsement by the Technical Review Committee (TRC). In this regard, work closely with the client, financial adviser (if any), Mandated Lead Arranger (MLA) (if any), ICD’s Risk Management Department (RMD), ICD’s Legal Department (LD), Development Effectiveness Officer (DEO), ICD’s Sharia’a Adviser (Sharia’a), Treasury (Pricing sub-Committee), etc.

• Initiate and participate in the negotiations with the client and conduct relevant activities, including but not limited to project timeline and disbursement cycles & criteria.

• Work closely with the deal team members (both in HQ and Regional Offices), other co-financiers, clients, financiers’ and client’s external advisers etc. for effective due diligence, credit proposal and smooth execution.

• Work closely with Risk Management Department, Legal & Compliance Department, Strategy Department, Shariah, Development Effectiveness in order to process a transaction proposal for the final approval.

• Actively contribute towards the preparation and presentation of the credit financing proposals to the Technical Review Committee (TRC), Investment Committee (IC), and Executive Committee/Board ensuring proper review and coordination with ICD’s Risk, Legal and Sharia’a functions and obtain necessary approval/endorsement as applicable.

• Coordinate with all required parties to ensure that legal documents are reviewed, prepared and duly executed as per the transaction structure and that the facility is declared effective for disbursement.

• Coordinate with Risk Management Department for obtaining clearance on the Closing Memo and arranging the signing of agreements and documents.

• Work closely with the legal adviser(s), client, agent bank, other advisers (if any) etc. for the completion of the CPs for first disbursement (Effectiveness).

Monitoring & Reporting:

• Participate and prepare for evaluation, structuring and execution of transactions and handle the first disbursement and subsequent disbursements.

• Follow-up with clients and co-financiers to ensure compliance with effectiveness conditions and process the first drawdown requests internally to facilitate timely fund disbursements.

• Handle the waivers and amendment requests, carry out the appropriate analysis, make recommendations for consideration.

• Coordinate with the intercreditor agent, client, advisors, other financiers in an ongoing basis.

• Conduct the annual reviews and submit appropriate reports.

• Report overdues, if any, in a timely manner and take appropriate actions.

Stakeholder Management:

• Maintain and expand relationships with reputable clients, sponsors, project developers, co-financiers, financial advisors, etc. in the target markets.

• Maintain relationships with clients during the project lifecycle and ensure that project objectives have been met and portfolio quality is maintained.

• Keep up to date on the national development priorities of the target MCs, economic and investment climate developments, major projects and opportunities, etc.

•  In all of the functions, work as a team with relevant ICD colleagues within the regional hub and HQ, as applicable.

• Give guidance and mentor to younger colleagues in the deal team.

Qualifications/ Professional Experience:

• At least 3 years of relevant experience in a corporate banking, project financing / structured financing, or credit risk management roles at a reputable financial institution, financial advisory firm, or private equity firm (or equivalent) is a must. Additional years of relevant experience may give added advantage.

• Bachelor’s degree in Business Administration, Finance, Mathematics / Statistics, Accounting, Physics, Computer Science, etc. or any related field is a must.

• Master’s degree in Business Administration, Finance, Accounting or any other relevant STEM (Science, Technology, Engineering ad Mathematics) subject or a relevant Professional Certification such as ACA, CFA, ACCA, or CIMA is required.

• Excellent written and verbal communication skills.

• Strong team work with colleagues within the Division and also other parts of ICD and IsDBG in the delivery of expected mandate.

• Proficiency in Microsoft Excel, Microsoft Word and Microsoft Power Point is a must.

Core Behavioral and Technical Competencies :

Core Behavioral:

• Innovation and Initiatives

• Change Management

• Developing People Capability

• Partnership Management

• Strategic Thinking

• Self-Effectiveness

Technical:

• Financial analysis and financial modelling skills

• Credit & investment appraisal skills

• Relationship management skills

• Macroeconomic indicators and concepts

Language Skills:

• Strong proficiencies in both verbal and written English and Turkish are required. Proficiency in Russian may be considered as an added advantage.