European Bank for Reconstruction and Development
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Job Description
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Description
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Principal Manager, EFSD+ guarantees plays a key role in the Bank’s engagement with the EU on its flagship guarantee programme for EBRD’s Countries of Operations (outside of Europe). The specific focus of the role is on the implementation of the European Fund for Sustainable Development Programmes (EFSD) and contracting and deployment of the successor programme, the EFSD plus.
The role reports to Associate Director, Guarantee Team, EU Pillar and works closely with all colleagues in the EU Pillar, Donor Partnerships, the wider Client Services Group, and other Departments.
The EU is a key strategic partner for EBRD. In addition to being a shareholder, it is by far the largest donor and contributed a third of all grant resources received by the Bank since its inception. Fostering close and productive relationships with the EU has been a core aim of the Bank for many years.
The EU Pillar in Donor Partnerships is responsible for leading and developing the design of new EU products for risk mitigation, co-financing and advisory services, as well as leveraging and managing EU funding from a range of sources.
With the growth of new EU flagship guarantee programmes – the EFSD+ and Invest EU – the EU expects to significantly increase the amount of unfunded budgetary guarantees deployed through implementing partners (IFIs/ DFIs). As a result, EU guarantee volumes are expected to grow exponentially for the Bank over the EC’s current 7 year budget period, which runs until 2027.
Accountabilities & Responsibilities:
The role reports to Associate Director, Guarantee Team, EU Pillar and works closely with all colleagues in the EU Pillar, Donor Partnerships, the wider Client Services Group, and other Departments.
The EU is a key strategic partner for EBRD. In addition to being a shareholder, it is by far the largest donor and contributed a third of all grant resources received by the Bank since its inception. Fostering close and productive relationships with the EU has been a core aim of the Bank for many years.
The EU Pillar in Donor Partnerships is responsible for leading and developing the design of new EU products for risk mitigation, co-financing and advisory services, as well as leveraging and managing EU funding from a range of sources.
With the growth of new EU flagship guarantee programmes – the EFSD+ and Invest EU – the EU expects to significantly increase the amount of unfunded budgetary guarantees deployed through implementing partners (IFIs/ DFIs). As a result, EU guarantee volumes are expected to grow exponentially for the Bank over the EC’s current 7 year budget period, which runs until 2027.
Accountabilities & Responsibilities:
- Support negotiations with the EC on up to eleven new EFSD+ guarantee agreements over a two year period, most of which are already approved by the donor and cover a range of thematic areas, including green bonds, war risk insurance, digital transformation and financial inclusion.
- Work with the Associate Director, EU Pillar to ensure that any risks associated with these individual programmes have been adequately considered and appropriately managed as well as clearly documented in any legal agreements with the donor.
- Help develop new guarantee and grant programmes for the EUR 50bn Ukraine facility, as well as other thematic areas under the EFSD+ guarantee instrument, including critical raw materials, with a strong emphasis on the mobilisation of private sector co-financing.
- On existing EFSD/+ guarantee agreements, provide support to dedicated EFSD/+ programme managers, as well as origination and portfolio teams in Banking, on donor reporting and programme implementation, as well as on any ad-hoc topics which may also be relevant for other EFSD/ EFSD+ programmes.
- Develop a coherent deployment and fund-raising strategy with respect to the full range of EU guarantee and blending instruments managed by the team. Map and stay abreast of EBRD’s sectorial, geographical, and thematic needs for EU guarantees.
- Build a detailed catalogue which maps the relative strengths and complementarities of these programmes to other donor unfunded guarantee products (like InvestEU and bilateral guarantees) in order to develop effective and consistent approaches to these products across the Bank.
- Support the development of programme specific operational manuals, fact sheets, templates, forms and tools to facilitate successful implementation of respective EFSD/ EFSD+ programmes, as necessary.
- Contribute to the Bank wide guarantee discovery working group in the definition of streamlined and integrated guarantee processes and IT systems to support the implementation of this growing portfolio of EU instrument(s).
Knowledge, Skills, Experience & Qualifications:
- Master’s degree in economics, finance, business administration or related discipline. CFA is also desirable.
- Work experience in a private commercial bank or development finance institutions, particularly in the context of development finance related to unfunded financial instruments, such as guarantees.
- Demonstrable understanding of broader international development policy and practice, and extensive experience working with donors (in particular the EU).
- Thorough understanding of the Bank’s business model, strategies, policies and organisation.
- Detailed knowledge and/or strong interest in the functioning of the EU institutions.
- Proven strong analytical skills are critical with the ability to summarise data and information.
- Ability to work effectively as a team member, to deadlines and under time pressure.
- Excellent written and oral communication skills in English. Additional knowledge of Arabic, or French is desirable.
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