Islamic Development Bank IsDB Jobs in Nigeria [1 new vacancy]

Latest jobs at Islamic Development Bank  May 2022

The Islamic Development Bank (IsDB) is a multilateral development bank (MDB) which funds its projects and other developmental activities using Islamic finance. Hence, the name “Islamic”. Founded in 1975, the IsDB is headquartered in Jeddah, the Kingdom of Saudi Arabia. The purpose of the Bank is to foster economic development and social progress of its member countries.

Jobs Islamic Development Bank

 May 2022. Field Disbursement Officer – Regional Hub of Nigeria

Job ID: IDB2807
Location: Abuja, Nigeria
Business Unit: Finance Complex
Division: Dues and Disbursements
Department: Financial Control Department

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Job Purpose

  • Review and verify operational disbursement requests and documentation in the Regional Hub in coordination with project management unit or relevant agency. 
  • Determine whether the disbursement request should be approved, reduced or rejected in accordance with the Bank’s policies and procedures. 
  • Allocate disbursement commitments to relevant contracts and ensure timely completion of disbursements. 
  • Maintain accurate and complete records relating to Regional Hub’s project accounting activities, coordinate with respective parties for resolution of disbursement related problems. 
  • Provide technical support during project preparation and disbursement workshops.

Key Accountabilities
Dues and Disbursement Management:

  • Process disbursement requests from the Project Management Unit or the relevant agency in the Regional Hub to verify and determine the appropriateness of requests and supporting documents for the disbursement in accordance with Bank’s policies and procedures.
  • Liaise with the Regional Hub management, project executing agencies and the borrowers, in the resolution of disbursement related problems.
  • Draft clear and concise correspondence to project management unit or operational staff regarding disbursement related issues. 
  • Monitor utilization of Special Accounts, ensuring that the funds are properly accounted for and used in accordance with Bank procedures
  • Participate in project missions to verify use of project finances and resolve disbursement issues.
  • Participate in technical discussions and new project negotiations to ensure that disbursement arrangements are compliant with Bank’s disbursement policies. 
  • Maintain reliable and timely financial records for project accounting and reporting on the performance of the portfolio with special focus on approval, disbursements, cancellations and recoveries in the Regional Hub.
  • Participate in reconciliation of project balances and issuance of project statements to Member Countries (i.e. reconciling borrowers’ and the bank’s records).
  • Prepare and update repayment schedules, prepare billing statements and track the repayment of amounts due and overdue in the Regional Hub.

Financial Analysis: 

  • Perform specific analyses of financials or operating data and submit recommendations for consideration of management.
  • Analyze the current projects status and identify any problem areas that warrant attention of the concerned departments. 
  • Participate in standard and ad hoc analyses to meet variety of management objectives.

Policies, processes and procedures:

  • Contribute in drafting policies and procedures as per management instructions
  • Provide guidance on interpretation of IsDB policies and procedures, and regulations applicable to operations financing in the Regional Hub. 
  • Analyse and identify gaps and suggest improvements to policies or procedures for more effective operations.

Reporting & Communication:

  • Prepare periodic reports on disbursement activities and disbursement projections for the Regional Hub and HQ management
  • Prepare ad-hoc reports as and when required by management.

Job Requirements
Education:

  • Bachelor’s Degree in Accounting, Finance, Business Administration or related field.

Certifications:

  • Additional qualifications of CPA, ACCA, CMA or equivalent would be preferred.

Experience:

  • Minimum 5 years of relevant experience in finance and accounting, preferably in a multi-lateral sector

Languages:

  • English: mandatory
  • French: preferred
  • Arabic: preferred

Skills and Necessary Knowledge:

  • Aptitude for figures and attention to detail
  • Building Relationships
  • Passion for Excellence
  • Analytical Thinking
  • Problem Solving
  • Stakeholder Management / Client Orientation
  • Knowledge of the development sector
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Accounting
  • Good understanding of project management
  • ERP skills-SAP Finance Module.

Application Closing Date
10th May, 2022.

How to Apply
Interested and qualified candidates should:
Click here to apply online

Associate, FI Financing (Nigeria – ICD)

Job ID: IDB2663
Location: Abuja
Business Unit: ICD – Islamic Corporation for Development
Division: FI Financing and Guarantees ICD
Department: Global Markets Equity

Role Purpose

  • Improve and strengthen the Small and Medium Enterprise’s (SME) access to financing in member countries through structuring financial agreements & lending programs with partner FIs in accordance with ICD’s risk-reward principles and business targets.

Key Functional Accountabilities and Activities
Developing Financial Channels:

  • Identify/analyze opportunities of Line of Financing & Guarantees (particularly, Risk Sharing Facilities (RSF)) with development impact across ICD member countries in compliance with the identified channels and regional targets
  • Expand ICD’s reach to markets by providing LOF and/or RFS to the FIs.
  • Develop and enhance credit financing products/services to Financial Institutions.

Project Sourcing & Origination:

  • Maintain relationships with member country governments, sovereign entities, regulatory bodies and other private stakeholders in order to develop client origination and sourcing strategy as they relate to FIs.
  • Identify potential credit financing transactions to Financial Institutions, working closely with Regional Offices throughout the process
  • Evaluate and assess potential projects’ feasibility, taking into consideration experience the learning from previous projects as applicable
  • Prepare and present the project concept notes to the investment committee (IC) for in-principle approvals for due diligence.
  • Negotiate and execute mandate letters with the clients
  • Support the Infrastructure & Corporate Finance team in infrastructure/corporate projects for Partial Financing Guarantees (PFG) as and when required and mainly in relation to the product technicalities, structure, terms & conditions, documentation etc.

Project Appraisal & Approval:

  • Initiate and ensure all project origination steps are in place to enable proper evaluation, including documentation, due diligence, risks and opportunities, taking into consideration the client’s ability and willingness to comply with ICD’s standards and practices
  • Participate in the negotiations with the client and conduct relevant activities, including but not limited to project timeline and disbursement cycles & criteria, working alongside Regional offices where and when applicable
  • Draft and/or present the credit financing proposals to the investment committee (IC), ensuring proper coordination with and review from ICD’s risk, legal and shariaa functions and obtain necessary approval as applicable
  • Process and track disbursement, upon legal documentation, as per project structure and ensure all necessary steps are taken to handover the project to the Portfolio Management team
  • Work with and support the Portfolio Management team post-project handover to maintain portfolio quality
  • As for PFG for infrastructure or corporate clients, support the Infrastructure & Corporate Finance team in providing adequate due diligence support, technical inputs etc. as they relate to the product.

Stakeholders Management:

  • Develop and maintain relationships with all relevant stakeholders in order to continue to grow ICD operations in the Financial Institutions of target countries
  • Maintain relationships with clients during the project lifecycle to ensure that project objectives have been met and support Portfolio Management team in managing customer relationship post-project handover

Qualifications / Professional Experience

  • Bachelor’s Degree in Finance, or any relevant discipline is a must.
  • A certificate in CFA, CMA, CPA or any other additional relevant professional certificate is a must.
  • At least 3 years of experience in Front Office in the financial institutions or equivalent department of reputable bank(s)/non-banking FI(s).
  • Ability to deal with clients at senior-levels.
  • Thorough understanding of the financial sector and relevant risks.
  • Ability to work with various stakeholders.

Language Skills:

  • Capable of communicating in two of the working languages (Arabic, English and French) of which English is a must. While French and/or Arabic is added advantage.

Application Closing Date
14th September, 2021.

How to Apply
Interested and qualified candidates should:
Click here to apply online