Impact Fund Consultant
|Vacancy Announcement Number||1664|
|Date of Issue||03/08/2018|
|Deadline for Applications||28/08/2018|
|Organizational Unit||Treasury Division|
|Duration of Assignment||3 months, 28 days|
The International Fund for Agricultural Development (IFAD) is an international financial institution and a specialized United Nations agency dedicated to eradicating rural poverty and hunger. It does so by investing in rural people. IFAD finances programmes and projects that increase agricultural productivity and raise rural incomes, and advocates at the local, national and international level for policies that contribute to rural transformation.
Post's organizational accountability
Current estimates suggest the agricultural and non-agricultural financing needs of the roughly 270 million smallholder farmers in Latin America, sub-Saharan Africa, and South and South-east Asia exceed US$200 billion.
To date, IFAD has contributed US$19.7 billion in loans and grants, and mobilized an additional US$27.1 billion in co-financing and domestic sources. In 2017, around half of these funds went to Africa and over a third were designated for countries with fragile situations.
IFAD is now planning a number of initiatives. One is an impact investment fund for smallholder farmers and rural small and medium-sized enterprises, with a focus on rural youth.
Impact investing generates social and environmental impact alongside financial returns, and is one of the most important recent social innovations, leveraging the massive power of the capital markets to a higher purpose than maximizing returns for shareholders.
By establishing an impact investment fund, IFAD can broaden the sources of funding available for its work, since impact investing is attracting a wide variety of investors, both individual and institutional.
The Project Manager of the fund will play an important role in leading the establishment, monitoring of related initiatives and activities and growth of the newly created fund. The position will be located within the Financial Operations Department (FOD) under the overall strategic, policy and management direct guidance of the Treasurer and indirectly of the Associate Vice President, Chief Financial Officer and Chief Controller of IFAD (AVP FOD).
Key results expected / Major functional activities
The Impact Fund consultant will be responsible for the following major functional activities:
- Develop the priorities, strategies and operations including the Technical Assistance Facility;•
- Define the Investment Policy with the fund manager (including investee targets, thresholds, excuse rights, conflict of interest, performance monitoring)
- Define the mechanism for the use of the Technical Assistance Facility with the fund manager and with the TAF providers (pre and post investments)
- Develop and refine strategies that maximise complementarity with different programmes run by IFAD;
- With the Partnership and Resource Mobilization Office, prepare and implement a plan for attracting new sources of funding for impact investment;
- With relevant IFAD departments, design an efficient information flow process between IFAD staff and the fund manager to develop a pipeline of projects. This would require the ability to interact with selected cross-functional teams of subject matter experts (legal, financial, agriculture, insurance, accounting and taxation). Candidates are expected to have a strong understanding of valuation, business assessment, debt products, and buy-side due diligence;
- Leverage his/her own relationships in the investment and/or development finance communities to explore possibilities for co-funding and building sustainability;
- With the Independent Office of Evaluation, and the Strategy and Knowledge Department, design and manage evaluation procedures and measurements with emphasis on social and environment impact as well as financial returns;
- Preparation and effective delivery of internal presentations within IFAD; and
- With IFAD regional offices and the Partnership and Resource Mobilization Office, develop a pipeline of potential investments.
Impact of Key results / Key performance indicators
During the early phase (pre-fund manager selection), KPIs are likely to include:
- Creation of fund investment policy, governance and management structures (focusing on IFAD – Fund manager interface) and internal / external reporting policies; and
- Selection of fund manager(s) including responsibility for overall development of procurement documentation and project management of the selection process.
Post fund manager selection, the KPIs are likely to include:
- Amount of funding raised;
- Number and type of new sources of IFAD funding attracted by the fund;
- Number of investments made by the fund;
- Success of each individual investment as measured by generally-accepted performance metrics adapted to each investment (on a triple bottom line basis); and
- Overall impact of fund in contributing to the achievement of IFAD goals of eradicating rural poverty and hunger.
Representation / Work relationships
- Project management
- Strategic leadership
- Initiates and supports change
- Challenges, innovates and contributes to a learning culture
- Contributes to a client-focused culture
- Solves complex problems and makes decisions that have wider corporate impact
- Coordinates wider use of time, information and/or resources
- Fosters a cohesive team environment
- Acquires and uses a wide range of communication styles and skills
- Builds and maintains strategic partnerships internally and externally
- Coordinate work and team effectively
Technical / Functional competencies
- Adept in deal structuring and negotiation, valuation, financial modelling etc.;
- Strong understanding of debt and quasi-debt products including term loans, working capital facilities and other liquidity products for SME lending;
- Understanding of collateral, covenant requirements, general credit policies, approval processes, risk management and analytics and portfolio management;
- Strong understanding of investment fund documentation requirements and fund manager selection criteria;
- Strong diplomatic and communication skills, with the ability to negotiate skilfully and the capability to establish and maintain partnerships for achievement of objectives and develop close and effective working relationships with internal and external clients. Ability to articulate and present convincingly. Capacity to promote ideas and optimal service practice to a multi-cultural diverse audience;
- Ability to exercise high degree of independent judgement and initiative in analysing highly complex issues with the ability to make interpretative decisions and identify, assess and mitigate risks;
- Ability to lead, build, and inspire teams and ensure that all processes, including management are consistently and highly effective. Foster teamwork by being a good team player. Strong interpersonal skills. Commitment to strengthening knowledge sharing needs and requirements;
- Ability to work under pressure with tight deadlines and multiple priorities on high level activities;
- As a facilitator of change, understands and prioritizes the needs and motives of stakeholders;
- Relevant emerging markets (South East Asia / Africa / Latin America) knowledge and experience strongly preferred.
Minimum recruitment qualifications
An advanced university degree from an accredited institution in economics, international development, rural development, rural finance, business administration, international affairs, management or any related field.
At least ten (10) years’ experience in corporate finance, development finance or private equity with a strong track record in rural development investments and/or advisory including experience within impact investing, investment banking, development cooperation agencies and/or multilateral development banks and/or management consulting.
Excellent written and verbal communication skills in English. Working knowledge of another official language relevant to emerging markets (Arabic, French, or Spanish) is desirable.
In the interest of making most cost effective use of funds and resources, we are only able to respond to applicants who are short-listed for interview. Candidates who do not receive any feedback within three months should consider their application unsuccessful
Candidates may be required to take a written test and to deliver a presentation as well as participate in interviews.
- Organization: IFAD - International Fund for Agricultural Development
- Location: Rome (Italy)
- Grade: International Consultant - Internationally recruited Contractors Agreement - Consultancy
- Corporate Social Responsibility (CSR)
- Innovations for Sustainable Development
- Development Cooperation and Sustainable Development Goals
- Closing Date: 2018-08-28