Employer:The International Finance Corporation (IFC)
Location: Washington, DC
Background / General description
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is a
global investor and advisor committed to promoting projects in its developing member countries that are economically beneficial, financially and commercially sound, and environmentally and socially sustainable. IFC finances private sector investments, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability, and provides technical assistance and advice to governments and businesses in the developing world. The Cash Management Team together with the Liquid Asset Management Group in the Treasury Department manages over US$30 billion in assets for the Corporation. IFC’s Cash and liquid assets are separated into six distinct subportfolios – P0, P1, P2, P3, P4, and P6 portfolios. The P0 portfolio is designed to process all of IFC’s operational disbursements and receipts, borrowing transactions, as well as most of IFC’s administrative payments. The P1 portfolio consists of proceeds from IFC’s variable rate market borrowings, which are invested until disbursement to clients. The P2 portfolio consists primarily of the Corporation’s paid-in capital and accumulated earnings. The P3 and P4 portfolios consist of funds originally taken from the P1 and P2 portfolios respectively and are assigned to a panel of external managers. The P6 portfolio was established under the Treasury global/local and portfolio funding initiatives to enhance IFC's local currency lending capabilities. The Cash Management Team is solely responsible for the P0 and P6 portfolios and also manages the cash component (overnight to 2 years duration) of the above P1 and P2 portfolios. The team is also responsible for the Corporation’s short-term borrowing (Discount Note) program denominated in USD and CNH. The proceeds from this program are utilized for IFC’s general cash management operations as well as fund short-term local currency loans to clients. The group also manages IFC’s global banking relationships and Foreign exchange activities.
Duties and Accountabilities
- The team currently comprises of 5 full-time staff managing about USD8-10 billion, with a high number of daily transactions. Each staff member has individual responsibilities for the following functions, but the team also rotates assignments to have updated exposure/understanding of all functions. The successful candidate will engage in all aspects of the Division’s work flow and will assist the Manager with the day-to-day operations of the Team as follows:
- Develop short-term investment strategies based on market conditions and key trends to enhance portfolios’ returns and outperform respective benchmarks;
- Repo Activities—manage the US fixed income repo trading book;
- Monitor and manage the Division’s risk exposure;
- Discount Note Program-Assess market conditions both for issuance and investments in the USD and CNH markets. Explore opportunities in other local markets to launch similar programs;
- Local Currency (P6) Portfolio—Evaluate and invest in local money market instruments (Brazil, Malaysia, Mexico, Poland, Russia, Thailand, Turkey and South Africa)
- Negotiate terms and conditions of IFC’s global bank accounts
- Daily positioning and funding of US dollar and non-US dollar bank accounts as it relates to IFC’s operational disbursements;
- Lead ad hoc projects and represent the Division in Corporate wide activities;
- Prepare monthly reports and briefs for senior management, and if needed, represent the manager in monthly asset allocation meetings.
Selection Criteria
Higher education in Business or Finance
Ability to work under pressure and able to adapt to a fast trading environment.
8 years experience in money markets and foreign exchange activities.
Experience in fixed income related activities (e.g., trading or research), especially structured finance products (e.g., RMBS, ABS, CMBS);
Knowledge of and experience with markets (electronic trading platforms) and financial instruments (cash and derivatives);
Strong sense of responsibility, sound business judgment, and solid analytical decision making capabilities;
Open to initiatives and risks; Strong interpersonal skills, and comfortable to operate in an open, team-based environment;
Excellent oral and written communication skills;
Strong quantitative skills; problem-solving, and must be detail-oriented;
Ability to deliver high quality work in a timely manner. Please note that only short-listed candidates will be invited for interviews. *LI-AF1
Closing Date: Monday, 08 July 2013
How-to-Apply
http://unjobs.org/vacancies/1372023681834