OPEC Fund for International Development Graduate, Internship & Exp. Job Recruitment (10 Positions)

The OPEC Fund for International Development is a multilateral development finance institution established in 1976. Our 12 Member Countries are:  Algeria, Ecuador, Gabon, Indonesia, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and the Bolivarian Republic of Venezuela.

We are recruiting to fill the positions below:

  1. Job Title: Investment Manager, Private Sector and Trade Finance Operations Department

Location: Austria

Job Profile

  • This position is responsible for the management of a portfolio of the Private Sector and Trade Finance Department’s loans, equity investments and guarantees in developing countries.
  • The annual workload includes execution and implementation of approved operations and continuous monitoring of the assigned portfolio in line with the related finance documents and the OPEC Fund’s policies and procedures.
  • The job may require frequent travel. The position has no structural supervisory function/s.

Duties and Responsibilities

  • Negotiates and closes new transactions with borrowers, shareholders, and co-lenders
  • Manages relationships with existing borrowers and co-financiers in order to monitor project implementation in line with the provisions of signed agreements and approved procedures
  • Processes withdrawal applications
  • Reviews financial covenants, compliance certificates, external project reports, and financial reports of borrowers and prepares credit monitoring reports
  • Reviews and processes waiver, amendment, consent, and rescheduling/restructuring requests
  • Conducts monitoring missions and if required, participates in appraisal/due diligence missions
  • Works closely with related departments throughout the project cycle
  • Participates in departmental working groups and organizational taskforces as required
  • Provides recommendations and suggestions to the Director, Portfolio Management for any improvement of the work efficiency and productivity
  • Stays abreast of country, sectoral, market and product developments
  • Represents the OPEC Fund at external conferences, meetings, symposia, and other external events in connection with project review & monitoring
  • Carries out other tasks assigned by the Director, Portfolio Management.

Qualifications and Experience

  • Master’s Degree or equivalent in Accounting / Commerce / Finance / Economics or other relevant fields
  • A minimum of five years of relevant professional experience
  • Preferably 2-3 years of experience within the Private Sector division of a major international development finance institution; or a banking environment (including commercial or investment banking, fund management or a development bank); or a commercial/development environment of relevance to the OPEC Fund’s operations and job profile.

Competencies:

  • Good knowledge of development project financing procedures and processes
  • Demonstrable project management knowledge and skills
  • Demonstrated financial credit analyses skills with regards to project and transaction financing
  • Demonstrable experience in socio-economic evaluation and impact analyses
  • Fluent in English. A good working knowledge of other major languages is an added advantage
  • Demonstrable ability to work in an international multi-cultural environment, with sensitivity and respect for diversity.

2) Job Title: Country Manager, Public Sector Operations Department

Location: Austria

Job Profile

  • The Country Manager contributes to implementing the Mandate of the OPEC Fund in assigned partner countries, i.e. development finance operations/activities in these countries, as well as managing the relationships with development partner institutions.
  • The Country Manager, under the supervision of the Regional Director, is responsible for identifying options for the optimum deployment of the resources in the partner countries in accordance with OPEC Fund strategic Framework, Business Plan and Country Operations Strategies. The position reports to the Regional Director. The position has no structural supervisory function/s.

Duties and Responsibilities

  • Contributes to development of short-medium and long-term objectives for the assigned countries, in line with the Strategic Framework, Corporate Objectives and Business Plan
  • Identifies new cooperation opportunities for public sector financing in assigned countries, including systematic liaison with peers in partner institutions; develops a project pipeline in line with the country operations strategy
  • Contributes to the Region and Department main deliverables, including project proposals, development of Department Policy Papers and facilitation of project/loan agreements.
  • Responsible for the financing project life cycle in assigned partner countries, from identification, evaluation, approval, signing loan agreement, to implementation and completion
  • Responsible for coordinating the development and management of OPEC Fund sovereign loans and operations in assigned complex partner countries
  • Conducts on a regular basis portfolio assessments for assigned countries
  • Assesses the situation of partner countries under specific circumstances (i.e. post-conflict, economic recession, debt sustainability framework) and evaluates solutions for OPEC Fund assistance, in coordination with major donors
  • Reviews draft loan agreements and coordinates prompt fulfillment of legal requirements for approved projects Undertakes project evaluations, including appraisals, mid-term reviews and project completion reviews, in accordance with the defined project scope and OPEC Fund established methodology
  • Reviews and monitors, in coordination with the Finance Department, timely processing of loan disbursement requests, loan servicing and repayment process, in accordance with OPEC Fund procedures
  • Prepares project impact assessment and completion reports
  • Prepares project proposals, operational documents, as well as all internal and external correspondence, ensuring timelines, quality as well as consistency with OPEC Fund guidelines, procedures and applicable legal documents.
  • Prepares recommendations for project implementation, monitoring and evaluation related matters (including procurement and loan disbursement in line with applicable procedures).
  • Reports to the Regional Director on issues of relevance for OPEC Fund cooperation with assigned countries
  • Carries out other tasks assigned by the Regional Director.

Qualifications and Experience

  • Master’s Degree or equivalent in Economics/ Finance / Engineering or other relevant fields
  • A minimum of five years of relevant professional experience
  • Preferably 1-2 years of experience in an international development finance institution.

Competencies:

  • Good knowledge of procurement procedures and processes
  • Demonstrable project management knowledge and skills
  • Good understanding of developmental project appraisal skills and knowledge
  • Demonstrable experience in socio-economic evaluation and impact analyses
  • Fluent in English. A good working knowledge of other major languages is an added advantage
  • Demonstrable ability to work in an international multi-cultural environment, with sensitivity and respect for diversity.

3) Job Title: Funding Officer – Treasury, Financial Operations Department

Location: Austria (AT)

Job Profile

  • The position of Funding Officer-Treasury is responsible for supporting the OPEC Fund’s borrowing program including Treasury operations with respect to ratings, issuance and investor relations activities.
  • The candidate coordinates with other functions and stakeholders in the funding process across the Fund in accordance with the borrowing strategy and framework.
  • Furthermore, the position holder is expected to have acquired the necessary experience and skills to fulfil the responsibilities related to debt funding, fixed income trading and hedging operations.  The position has no supervisory function/s.

Duties and Responsibilities

  • Assist in the development and execution of OPEC Fund’s annual borrowing program in accordance with the Board’s approved liquidity policy
  • Formulate new funding strategies, taking note of net cash requirements, current market conditions and future debt market projections
  • Take part in the resource mobilization activities from capital markets through recommending and executing transactions based on target size, terms, currency, and maturity, while ensuring compliance with the Fund’s policies and borrowing strategy
  • Assist in the structuring of bond issues and obtaining clearance from the relevant committees while maintaining compliance with the OPEC Fund’s risk management policies relating to liquidity, treasury operations and ALM
  • Negotiate with financial institutions, execute borrowing transactions and related swaps in accordance with approved terms and ensure timely completion and accuracy of documentation with the assistance of the Legal Department
  • Research and recommend trustees, paying agents and other related parties for execution of capital market activities
  • Prepare OPEC Fund’s Information Statement and prospectuses/offering circulars for new borrowing, ensuring accuracy and completeness of information contained therein
  • Participate in deal road shows, investor conferences and develop investor database/portal
  • Develop relationship with key external stakeholders, including bond investors, regulators, banks, rating agencies, external auditors, external legal advisors etc.
  • Align with Senior Funding Officer and other functions within the Financial Operations Department as well as other stakeholders in the funding process across the Fund
  • Carry out other related duties as may be directed by the Director, Treasury.

Qualifications and Experience

  • Master’s Degree or equivalent in Business Administration, Finance, or related fields
  • A minimum of 5 – 7 years of relevant experience
  • Preferably 3 years of experience in an international development institution.

Competencies:

  • Working knowledge of debt capital markets, fixed income portfolio management, derivatives, asset liability management, and financial and risk management
  • Proven skills in trading, risk management and hedging
  • Fluent in English. A good working knowledge of other major languages is an added advantage
  • Strong interpersonal, teamwork and analytical skills, as well as high level of integrity and drive for achieving results
  • Proficient in the use of Treasury Management Systems and Bloomberg’s information and trading platforms
  • Ability to work in an international multi-cultural environment, with sensitivity and respect for diversity.

4) Job Title: Director for Policy, Market and Operational Risk

Location: Austria

Job Profile

  • The position is responsible for leading, planning, and overseeing the development and maintenance of risk policies as part of the OPEC Fund’s comprehensive risk management framework and managing market risk and operational risk.
  • The risk management framework covers capital adequacy and all major risks in the OPEC Fund’s operations, including liquidity, credit, market, asset and liability (ALM), and operational risks, as well as credit approval and monitoring, risk rating, and loan pricing.

Among the major tasks include:

  • Developing and maintaining risk policies;
  • Measuring, mitigating, and monitoring market, counterparty, ALM, liquidity, and operational risks;
  • Preparing risk reports; and
  • Developing and implementing IT support for market and operational risks. The position supervises one senior risk officer and two risk officers.

Duties and Responsibilities

  • Lead and oversee the development, implementation, and maintenance of risk policies, processes, methodologies, and systems for managing all  major risks in the OPEC Fund’s operations
  • Oversee assessment, mitigation, monitoring, and reporting of major risks in treasury operations, including market, credit, counterparty, ALM, and liquidity risks
  • Lead and oversee the development and implementation of risk analytics for managing market and credit/counterparty risks in treasury operations
  • Provide advice and recommendations on asset allocation strategy taking into account the OPEC Fund’s liquid asset investment objectives, risk appetite, and risk/return profile of different asset classes
  • Oversee performance measurement of the liquidity portfolios against set objectives, policies, and benchmarks
  • Provide assistance and advice in relation to external fund managers, including selection, performance measurement, and assessment of investment strategies 
  • Oversee the development and implementation of valuation models for treasury liquid assets, borrowings, and related hedging transactions
  • Lead and oversee assessment, mitigation, and monitoring of operational risks across all units at the OPEC Fund
  • Lead and oversee development and implementation of workshops on assessment and mitigation of operational risks
  • Lead and oversee development and implementation of IT support system for storing, monitoring, and reporting operational risk data
  • Oversee periodic reviews and enhancements of risk policies, processes and methodologies
  • Lead and oversee IT projects and other special projects to meet risk management requirements
  • Oversee the development and preparation of the market and operational risk section of the quarterly risk management report
  • Work closely with other departments within the bank to promote risk culture and improve risk compliance
  • Develop and maintain relationship with key external stakeholders, including treasury counterparties, external fund managers, development financial institutions, and rating agencies
  • Carries out other tasks assigned by the Senior Director, Risk Management Department

Qualifications
Education and Experience:

  • Master’s Degree or equivalent in either Business Administration, Finance, Accounting, Economics or related fields
  • Minimum 15 years of investment, treasury, and/or risk management experience with global or regional banks, fund managers, or multilateral/bilateral development financial institutions with specific experience in market risk, fixed income portfolio management, operational risk, and policy development 

Competencies:

  • Extensive knowledge of financial concepts and quantitative tools of risk measurement and reporting, particularly in relation to fixed income portfolio management, funding operations, and operational risk
  • Excellent understanding of treasury operations, fixed income portfolio management, cash and derivative markets
  • Strong quantitative skills in the area of market and counterparty risk management and derivative
  • Excellent verbal and written communication skills in English, including the ability to prepare and deliver coherent presentations; working knowledge of other major languages will be an added advantage
  • Excellent interpersonal, analytical, leadership, and supervisory skills, as well as high level of integrity and drive for achieving results
  • Proven negotiation and decision-making skills
  • Demonstrable ability to work in an international multi-cultural environment, with sensitivity and respect for diversity

5) Job Title: Senior Accountant, Financial Operations Department

Location: Austria

Job Profile

  • The position of Senior Accountant is responsible for the maintenance of the OPEC Fund’s chart of accounts and their balances, complete quarterly accounting closing and preparation of accurate and timely financial statements in conformity with International Financial Reporting Standards (IFRS) accounting principles.

Duties and responsibilities

  • Implements an adequate Internal Control System and supports the Director, Financial Controls in coordinating policy development
  • Updates accounting policies in line with IFRS and implements applicable new standards
  • Leads the implementation of enhancement to existing and/or new SAP-based multi-modular accounting systems
  • Oversees budget implementation and compliance, using as a reference the approved administrative budget and cost center allocation
  • Ensures internal controls are fully integrated, embedded and continuously strengthened in the reporting processes and accounting systems in accordance with business needs
  • Reviews and monitors records of all incoming and outgoing accounting and financial working documents into the General Ledger
  • Conducts reconciliation, ensuring uniformity and consistency in recording and reporting transactions
  • Performs quarterly accounting closings for financial reports
  • Produces financial statements and other financial reports, accurately and on time
  • Coordinates engagement with internal and external auditors
  • Coordinates the work of the Accounting function
  • Develops and mentors junior staff and supports personal development plans
  • Formulates solutions and recommendations, and provides central direction and control over complex theoretical and practical accounting, budgeting and reporting matters not covered by standard practice or precedent
  • Identifies improvement opportunities in all areas of accounting; initiates evaluation studies and analysis, and provides Management with recommended solutions
  • Carries out other related duties as may be directed by the Director, Financial Controls.

Qualifications and Experience

  • Master’s degree or equivalent in Accounting and Control/Business Administration, majoring in Accounting, Financial Management or other relevant fields
  • Recognized accounting certification such as CA or CPA
  • A minimum 10 years of relevant experience
  • Preferably 3-5 years of experience in an international development institution
  • Preferably a certification/diploma in financial reporting under IFRS.

Competencies:

  • Demonstrable experience in working with financial reporting and knowledge of IFRS
  • Familiarity with SAP-FI R3 ERP system
  • Fluent in English. A good working knowledge of other major languages is an added advantage
  • Excellent interpersonal, leadership, teamwork and analytical skills, as well as high level of integrity and drive for achieving results
  • Demonstrable ability to work in an international multi-cultural environment, with sensitivity and respect for diversity.

6) Job Title: Officer – Policies, Risk Management Department

Location:
 Austria

Job Profile

  • The position of Officer-Policies develops, implements and maintains the OPEC Fund’s risk management framework comprising of policies, processes, and methodologies, and supports the development of the IT infrastructure for risk management, all in accordance with the institutional risk framework, in order to prevent, minimize, and mitigate risk.
  • The position has no structural supervisory function/s.

Duties and Responsibilities

  • Develops, implements and maintains risk management policies, methodologies, and systems for identification, measurement, mitigation, and reporting of the risks in OPEC Fund’s operations (capital adequacy, liquidity, credit risk, market risk, operational risk, asset and liability management, and provisioning).
  • Develops and implements policies and methodologies for determining economic capital requirements and allocations, prudential minimum liquidity, and loan loss provisioning.
  • Develops and enhances risk models and methodologies for measuring various risks in OPEC Fund’s operations.
  • Develops, implements and maintains risk rating methodologies and tools for a structured credit risk analysis.
  • Ensures the consistency of rating assignments and tests the predictive power of OPEC Fund’s rating tools.
  • Provides feedback to and consults with operations departments to identify risk issues and develop solutions that satisfy the technical and business need.
  • Develops and maintains OPEC Fund’s tool for Risk-Adjusted Return on Capital (RAROC) pricing of credit transactions.
  • Advises on risk policy and methodology matters.
  • Supports IT projects and other specialized projects to meet risk management requirements.
  • Researches and analyzes various matters related to risk management to ensure alignment of OPEC Fund’s risk policies and methodologies with industry best practices.
  • Assists in the preparation of quarterly and annual risk management reports.
  • Carries out other tasks assigned by the Director, Market Risk, Operational Risk & Policies (MOP).

Education and Experience

  • Master’s Degree in Accounting / Commerce / Finance / Economics or equivalent professional qualification
  • Minimum of 7 years of banking/ risk management experience
  • Preferably 2-3 years of experience  with international banks or multilateral development financial with focus on development of risk policies, methodologies, and IT systems
  • A professional financial or risk management qualification is an added advantage

Competencies:

  • Demonstrable knowledge of risk management concepts and principles in the context of multilateral development financial institutions, covering capital adequacy, liquidity, credit risk, market risk, operational risk, asset and liability management, and provisioning
  • Good knowledge of credit  rating and pricing methodologies
  • Good understanding of lending and investment practices, banking products, and rating agency methodology
  • Demonstrable understandi ng of the application of risk management methods to information technology and vice versa
  • Fluent in English. A good working knowledge of other major languages is an added advantage
  • Strong interpersonal, teamwork and analytical skills, as well as high level of integrity and drive for achieving results;
  • Demonstrable ability to work in an international multi-cultural environment, with sensitivity and respect for diversity.

7) Job Title: Admin Assistant

Location: Austria

Specific Tasks

  • Typing, and when necessary composing routine memos, correspondence, reports, and presentations.
  • Overseeing the preparation of all documentation to high standards of presentation and accuracy.
  • Ensuring that standard office practices and routines are functioning effectively on an ongoing basis.
  • Contacting other staff members to ensure appropriate follow-up and delivery of critical official activities.
  • Handling on a routine basis, highly confidential information in a professional manner.
  • Checking outgoing mails for accuracy and conformity with policies and specific instructions.
  • Performing other standard secretarial functions such as filing, accurate record keeping, photocopying, handling inquiries, making meeting arrangements, all in a consistent manner with official guidelines.

Qualifications and Experience

  • Formal secretarial training from a recognized institution will be an asset.
  • Minimum of five years relevant experience, preferably in an international environment.

Skills and Competencies:

  • Extensive knowledge in the usage of office technologies, such as Microsoft Office applications (Word, Excel, PowerPoint, etc.), intra/internet as well as on-line database management.
  • Excellent verbal and written communication skills, fluency in English and German is highly essential.
  • Working knowledge of Arabic, French and/or Spanish will be an asset.
  • Ability to work independently with minimum supervision and guidance.
  • Good interpersonal, organizational and time management skills.

8) Job Title: Senior Funding Officer – Treasury

Location: Austria

Job Profile

  • This position is responsible for the design and management of the OPEC Fund’s borrowing operations program including treasury related aspects of the ratings, issuance and investor relations activities, all in accordance with the institutional strategy and framework.

Duties and Responsibilities

  • Develops and implements OPEC Fund’s annual borrowing program based on net cash requirements and in compliance with Board approved Liquidity Policy.
  • Monitors and analyzes funding opportunities in major currency debt markets and recommend transactions for execution in line with the Fund’s funding strategy and borrowing objectives, including benchmark issues, opportunistic financing, and private placements.
  • Formulates and implements the short term funding strategy, including the establishment of short-term debt issuance program.
  • Leads negotiations with banks, execute borrowings and related swaps in accordance with approved terms, and ensure timely completion and accuracy of documentation with the assistance of the Legal Service Department .
  • Prepares various borrowing documents for Management  and the Governing Board, including approval requests for individual borrowings and swaps, periodic Board reports, and press releases.
  • Leads implementation and compliance with the Fund’s risk management policies relating to liquidity, treasury operations, and ALM.
  • Prepares and updates the Fund’s Information Statement and prospectuses/offering circulars for new borrowings, ensuring  accuracy and completeness of information contained therein, relating to the Fund’s policies, operations, financials, and risk management.
  • Develops an investor relation program to expand the Fund’s investor base through road shows, conferences, and development of investor database and website.
  • Develops and maintains relationship with key external stakeholders, including bond investors, regulators, banks, and rating agencies.
  • Organizes and coordinates due diligence visits by credit rating agencies and review and ensure that rating reports on the Fund are accurate and appropriate.
  • Maintains full compliance with the Fund’s policies and procedures as well as market regulations.
  • Carries out other tasks assigned by the Director, Treasury that are related to the job function.

Qualifications and Experience

  • Master’s Degree or equivalent in Business Administration, Finance, or related fields.
  • Minimum 15 years of relevant experience with multilateral development banks or global financial institutions in funding operations or debt capital markets.
  • Preferably 3-5 years of experience in an international development institution.
  • Preferably a Chartered Financial Analyst certification holder.

Competencies:

  • Extensive knowledge of debt capital markets, fixed income portfolio management, derivatives, asset liability management, and financial and risk management.
  • Well established skills in trading, risk management and hedge accounting.
  • Fluent in English. A good working knowledge of other major languages is an added advantage.
  • Excellent interpersonal, leadership, teamwork and analytical skills, as well as high level of integrity and drive for achieving results.
  • Proficient in the use of Treasury Management Systems and Bloomberg’s information and trading platforms.
  • Demonstrable ability to work in an international multi-cultural environment, with sensitivity and respect for diversity.

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should:
Click here to apply online for position 1to 8

9) Title: Internship Program

Location: Austria

Details

  • The OPEC Fund offers an Internship Program enabling students from diverse academic backgrounds to experience work with an international organization.  
  • The Internship Program runs for between two and six months and is designed to:
    • Provide a framework to support students assigned to any OPEC Fund department so that the focus remains on enriching the student’s experience;
    • Provide an immersive experience so that students gain practical experience of working for an international organization; and
    • Provide the opportunity for students to understand the OPEC Fund’s vision, mission and related values.
  • Interns are assigned to different departments/units depending on their interests and qualifications, and according to departmental needs. The Internship Program offers opportunities to focus on one or more of the following: public sector operations; private sector and trade finance operations; grants; financial management; risk management; strategic planning and economic services; internal audit; human resources; administration; communication; legal services; and information technology.

Work assignments undertaken by interns may include:

  • Conducting research;
  • Writing documents;
  • Organizing information; and
  • Assisting employees with their day-to-day work.

Eligibility criteria

  • Applicants must be between 19 to 25 years of age and enrolled in an undergraduate program (having completed at least two years) or graduate program. Alternatively, applicants may be recent graduates, having graduated a maximum of one year before the application deadline.

Applicants must be:

  • Proficient in English. Knowledge of an additional language (e.g. French, Spanish, Arabic) is an asset;
  • Computer literate in standard software applications (Microsoft Office);
  • Keenly interested in the work of the OPEC Fund;
  • Able to demonstrate cultural awareness; and
  • Able to demonstrate the OPEC Fund’s core values (Integrity, Empowerment, Excellence, Innovation, Community).

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should:
Click here to apply online

10) Title: Young Professional Development Program

Location: Austria (AT)

YPDP Overview

  • The OPEC Fund’s Young Professional Development Program (YPDP) is a structured two-year program designed to prepare young professionals from the OPEC Fund’s member countries for a career in global development. We are currently seeking applicants with a passion for and commitment to international development who demonstrate academic excellence and relevant professional experience.
  • We especially want to hear from those with the drive and ambition to help developing countries address their most pressing challenges in the quest for social, environmental and economic progress.  

What does the YPDP offer?

  • In short, the YPDP offers training, coaching and mentoring, the opportunity to experience different departments and access to professional networks. The program equips young professionals with the skills and knowledge to meet the minimum requirements for an entry-level position with the OPEC Fund.
  • The YPDP will enable young professionals to develop an appreciation of how different departments / units contribute to the OPEC Fund’s overall strategic and operational goals. Under the structured talent management program, participants will have the opportunity to contribute to achieving the OPEC Fund’s vision of a world where sustainable development is a reality for all.
  • YPDP participants spend at least 50 percent of the program in a ‘home’ departement / unit and rotate to other departements for the remainder of their time. This enables participants to broaden their experience and benefit from differing coaching and mentoring styles, while building their professional network.
  • After participants have successfully completed the two-year program, they may be offered a job at the OPEC Fund, based on their performance and the business need.

Eligibility
To be selected for the YPDP program, applicants must:

  • Be an OPEC Fund member country national;
  • Be 30 years of age, or younger;
  • Hold a Master’s degree;
  • Be able to demonstrate outstanding academic credentials;
  • Be fluent in English and proficient in at least one other language;
  • Specialize in development, engineering, economics, finance, business administration, law, information technology, human resources or any other discipline relevant to the OPEC Fund’s operations;
  • Be able to work in an international, multicultural and diverse environment;
  • Understand the OPEC Fund’s mandate; and
  • Be willing to work with the OPEC Fund in Vienna for a minimum of two years upon completion of the YPDP, if offered a position.

Application Closing Date
21st September, 2020.

How to Apply
Interested and qualified candidates should:
Click here to apply online

Leave your thoughts

Copyright

Copyright @2020. cmerije.com

Copyright @2020. cmerije.com