IDB2666 - Senior Associate, Fund Management (ICD)

Job Grade: E2
Business Unit: ICD - Islamic Corporation for Development
Division: Funds and Portfolio Management ICD
Department: Asset Management Department ICD
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 13-Sep-2021

Role Purpose:

To work with the Funds & Portfolio Management Division Head in implementing the internally managed fund’s investment strategy and monitor the performance of the funds, and their underlying portfolio, ensuring all performance targets are achieved successfully.

Key Functional Accountabilities and Activities:

In-house Fund Management:

▪ Assist in ensuring the effective implementation of the fund’s investment strategy and policy as defined in the fund legal agreements.
▪ Constantly assess and monitor to ensure all the performance targets are met in according to the set objectives.
▪ Support in conducting fund trading, investment and divestment activities and ensure its successful profitability and sustainability.
▪ Support in conducting and ensuring that fund investment, divestment and operational activities are performed as per defined policies, manuals and procedures, and flag issues as they arise to minimize risks and recommend corrective actions.
▪ Administer and report any portfolio risk indicators, shariah compliance matters, legal and compliance issues, liquidity forecast, and liquidity management performance as related to launched funds.
▪ Ensure all phases of the project transaction cycle are conducted in line with the respective Fund Manuals and Investment Policies from initial screening to disbursement and through implementation and retirement.
▪ Conduct and coordinate commercial and legal due diligence on transactions in line with respective Fund Strategy, Manual and Investment Policy.
▪ Participate in conducting Fund Monitoring and Follow-up scope of work and activities for underlying investment projects, investee companies and investment instruments via financial analysis and repayment collections and workaround on a transaction basis.
▪ Ensure that all the financial, valuation and performance reports are in place in a timely manner including the underlying portfolio performance reports and customers communication package (i.e. fund performance reports, fact sheets etc). Assist in Preparing all relevant internal and external reports, including Equity Valuation Reports, and seek relevant Investment Committee approvals and other internal approvals where required.
▪ Coordinate closely with the Business Development and Fund Programming team along all concerned stakeholders for evaluating existing products, funds, related services and identify areas of improvement or restructuring or relaunching of the existing products into the market and implement the approved improvements plan and/ or the approved winding-up and termination plan where required.

Funds Performance Administration:

▪ Apply best practice key financial indicators and benchmarks for monitoring fund performance regionally, as well as globally.
▪ Help in Developing reports on the performance of the funds indication objectives and highlight areas of improvements or potential risks.

Documentation:

▪ Coordinate closely with the support functions such as Compliance, Legal, Shariah and Risk Departments/ Divisions to ensure due delivery of key documentation (i.e. KYC, AML, Credit Note and Legal etc.…) as needed and preparing proposals for seeking relevant Investment Committee, Advisory Board and Internal Approvals.
▪ Ensure missions/ back to office reports and proper documentation are in place.

Qualifications/ Professional Experience:

  • At least 3 year(s) of experience in banking/financial institutions in their Asset Management and/or independent Funds Management companies, preferably in a Shariah context.
  • Bachelor’s degree in Finance, Business Administration or similar discipline is a must.
  • A certificate in Financial Accounting (CFA), Management Accounting (CMA), Certified Public Accountant (CPA) or any additional relevant professional certifications is a must.

Language Skills:

Capable of communicating in two of the working languages (Arabic, English and French) of which English is a must.