Lead, Treasury Investment & ALM – Jeddah, Saudi Arabia

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Islamic Development Bank
Job Overview

JOB PURPOSE:

This role holder is responsible for liquidity and cash management activities to generate optimal returns on liquid funds in both funds while minimizing liquidity and currency risk. This role is also be responsible for proposing and undertaking due diligence on investment opportunities for enhancing the returns on liquid funds.

Role includes asset-liability management responsibility and development and implementation of investment strategy, policies, strategies and tools for liquidity and ALM as well as transaction execution, monitoring and reporting in line with the risk management guidelines.

KEY RESPONSIBILITIES:

Strategic Responsibilities

  • Provide thought leadership and technical guidance to Management and colleagues on treasury and investment management activities and operations, Asset-liability management (ALM) and credit ratings.
  • Develop and implement Treasury Investments & ALM Strategy of the Corporation and relevant guidelines and proactively make recommendations for enhancing the Treasury Investments function.
  • Provide strategic recommendations to Management regarding strategy for enhancing the credit ratings.
  • Ensure compliance with organizational policies, procedures and quality standards.

 

Core Responsibilities

Cash Management

  • Develop and maintain cash flow projections based on business plans and financial budget to proactively manage the Corporation’s cash flow to allow it to operate effectively.
  • Undertake quarterly stress test of ICIEC’s liquidity to ensure adequate levels of liquidity for operational expenses and potential claims under various scenarios and ensure liquidity risk is minimized.
  • Engage with Banks and IsDB Dealing Room to ensure timely execution and settlement of disbursement and investment transactions in line with established financial guidelines.
  • Manages all aspects of cash related to allocation of funds, investment of funds in different asset classes and assessing the returns from funds to ensure efficient management of ICIEC’s cash funds.
  • Lead interaction with IsDB Treasury Department on operational and contractual matters regards Fund Manager.Investment Management
  • Develop and implement an Investment Strategy and related guidelines for the Corporation tailored for insurance sector that ensures optimal return on liquid funds while minimizing liquidity risk.
  • Propose and undertake proper due diligence of Shariah-compliant investment transactions in compliance with approved guidelines with proper due diligence for consideration and approval by the Investment Committee.
  • Utilize advanced treasury portfolio management tools and techniques (VaR, delta, gamma, etc.) within treasury system to maximize returns while minimizing risk in the investment portfolio
  • Evaluates a diverse spread of investment opportunities such as cash, Sukuk, money markets for Islamic transactions/instruments, short term paper securities etc. in order to make the most profitable returns for ICIEC.
  • Liaises with IDB Treasury Department for all identifying and analysing all potential investment opportunities that can generate a healthy positive return for ICIEC.
  • Evaluates the investment opportunities using financial modelling skills to analyse the investment requirements, financial risk associated, expected returns etc. to ensure adherence to risk management and financial guidelines.
  • Undertake investment portfolio review on monthly basis and propose rebalancing transactions for any active or passive breaches to ensure full adherence and compliance with investment strategy and guidelines.
  • Actively coordinate with ITFC for Murabaha Trade syndication participation and manage the investment portfolio.
  • Propose new and manage alternative investments portfolio including equities and funds.Asset-Liability Management
  • Develop an Asset-Liability Management (ALM) Framework for the Corporation that ensures optimal management of ALM risks along with related guidelines for utilization of mitigation strategies (e.g. Shariah complaint derivatives, etc.).
  • Proactively identifies risks due to exposure to foreign exchange rate fluctuations, interest rates, liquidity and other counterparts and make recommendations to reduce or neutralize these risks.
  • Proactively monitor the Corporation’s currency-wise balance sheet structure and recommend appropriate transactions on monthly basis to realign net assets to neutral position of the Islamic Dinar (ID) basket to minimize currency losses.
  • In coordination with the Finance Manager responsible for financial projections, develop a dynamic simulation model to forecast evolution of the balance sheet for proactive balance sheet and cash management.Credit Rating
  • Support the Risk Management as alternate Lead of credit rating interaction including coordination with rating agencies regarding the annual rating review and provision of requested information.
  • Support development of new insurance products as well as provide expert input on implications of such exposures on the credit rating of the Corporation.Reporting
  • Submit a brief monthly report covering current and forecasted cash flows for Senior Management to analyse cash position of ICIEC to ensure availability of adequate cash funds.
  • Submit quarterly report on balance sheet risks along with recommendations for mitigating anticipated mismatches in balance sheet structure and currency risks.
  • Submit quarterly comprehensive report on ICIEC Investment Portfolio performance, compliance with guidelines, portfolio analysis, highlight risks with recommendations, etc. to the Investment Committee.
People Management Responsibilities

  • Defines goals and key performance indicators for each member of the team and ensures effective application of the ICIEC Performance and Development Review process.
  • Ensures high level of employee engagement and capability development by providing on-going feedback and coaching to team members.

QUALIFICATIONS:

Field of Study
  • Treasury, Finance or Risk Management
Academic Qualifications and Relevant Experience Qualification Level

High School Diploma

Bachelor’s Degree

Master’s Degree

Doctorate

Experience n/a 12-15 years 10 years 7 years

EXPERIENCE:Nature of Experience:  Prior experience in Treasury & Risk, managing treasury and investment operations of a financial institution and ALM/balance sheet risk management.

Professional Certifications (as applicable):  Certifications such as CFA is mandatory.  CMA/CPA certification would be an added advantage

 

 

BUSINESS LANGUAGE SKILLS:

  • Good command of written and spoken English essential
  • Additional languages such as Arabic, French is an added advantage

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