Chief Credit Officer

2 weeks ago

Johannesburg, Gauteng, South Africa World Bank Group Full time

Job #:

- req24854
Organization:

  • IFC
    Sector:
  • Risk
    Grade:
  • GH
    Term Duration:
  • 3 years 0 months
    Recruitment Type:
  • International Recruitment
    Location:
  • Johannesburg,South Africa
    Required Language(s):
  • English
    Preferred Language(s):
  • French
    Closing Date:
  • 11/10/2023 (MM/DD/YYYY) at 11:59pm UTC
    Description
The Investment and Credit Risk Department (CIR) is part of the Risk and Financial Sustainability Vice-presidency in IFC. The Credit Officers are specialized and experienced risk professionals that are part of the independent risk system.

Credit Officers are responsible for reviewing and approving investment proposals and material portfolio actions submitted to CIR, ensuring that loan and equity transactions provide adequate risk-return to IFC and meet IFC's minimum investment standards as required by any applicable policies, procedures, or guidelines, and are within the credit risk appetite established by senior management.


Credit Officers provide expert input to identify vulnerabilities /risks associated with new transactions as well as waivers and changes to existing investments, ensuring risks are fully identified, disclosed, and clearly communicated and understood throughout the approval process.


CIR also plays a critical role in maintaining a strong credit and equity culture within IFC and supporting the dissemination of credit and equity expertise and best practice through various knowledge management activities, the development of credit equity standards, credit risk policies, guidelines and procedures, deal acceptance criteria and business process improvements.


IFC is seeking a Chief Credit Officer (CCO) to join the CIR Department with a focus on the Infrastructure and Natural Resources (INR) and Manufacturing, Agribusiness & Services (MAS) space in Africa (CAF) and the Middle East, Central Asia and Türkiye (MCT) Regions.

S/he will become part of a formal investment approval hierarchy, serving as "second pair of eyes" in IFC's checks and balances for all IFC investments.

S/he will be responsible for providing credit reviews and approvals for new transactions and portfolio monitoring and represent CIR in corporate working groups/initiatives.

The CCO will be based in Johannesburg and report to the CAF & MCT Regional Chief Risk Officer (RCRO).

Duties and Accountabilities:

  • Provide objective and independent risk assessment in approving and monitoring transactions, in adherence with IFC policies, procedures, guidelines and best practices, such that investment transactions and portfolio actions contribute to IFC's financial and development goals.
  • As a "second pair of eyes" to investment teams, s/he will be available at all stages of IFC's investment process to discuss potential issues with teams, including sponsor, market, regulatory environment, structure of the transaction, term sheet and documentation, obligor/investee financial performance, compliance with covenants, use of derisking tools, etc.
  • Ensure IFC's risk appetite is clearly understood, that a proper riskreward balance is achieved in transactions, and the quality of IFC's portfolio is maintained.
  • Approve the initial credit risk rating and facility rating for new transactions and review sample portfolio ratings on an ongoing basis.
  • Be a recognized thought leader and provide expert input to and identify vulnerabilities associated with all approved transactions, as well as waivers and conditions.
  • For the geography and sector of responsibility, keep abreast of portfolio trends, participate in quarterly portfolio meetings / equity reviews, ensure Credit Watchlists are up to date and credit and facility ratings are updated adequately to reflect risks.
  • Visit transaction teams and/or clients in key office locations to get a firsthand understanding of key risks and to keep abreast of market developments in relevant sectors and countries.
  • Contribute to knowledge management activities through drafting of Credit FAQs, actively supporting training programs, or similar activities.
  • Participate in reviews and discussions of credit and equity standards, pricing, deal acceptance criteria, and business process improvement. Represent CIR on different working groups and corporate initiatives at the request of the RCRO or CIR Director.
  • Provide backup for other Chief Credit Officers and participate actively in departmental discussions of investment opportunities and challenges.
  • Mentor junior staff.
  • Advise the CIR Director and RCRO and Senior Management on relevant transaction or portfolio developments which could adversely affect IFC's asset quality, developmental impact, or future performance.

Selection Criteria

  • Advanced degree (at least Masters) in finance, business, law, economics, international affairs, or similar fields.
  • At least 1215 years of experience working for a major international financial institution with substantial exposure to both MAS and INR s

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