Inter-American Development Bank (IDB)

Special Asset and Portfolio Management Consultant

Inter-American Development Bank (IDB)

Job Description

IDB Lab Special Asset and Portfolio Management Consultant – IDB Lab Investment Unit (LAB/INV) Background: At the Inter-American Development Bank Group (IDB Group), we are devoted to improving lives. Since 1959, we have been a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. We do more than lending though. We partner with our 48-member countries to provide Latin America and the Caribbean with cutting-edge research about relevant development issues, policy advice to inform their decisions, and technical assistance to improve on the planning and execution of projects. For this, we need people who not only have the right skills, but also are passionate about improving lives. IDB Lab is the innovation laboratory of the Inter-American Development Bank Group. It mobilizes financing, knowledge, and connections to support entrepreneurs to catalyze innovation that can drive inclusion in Latin America and the Caribbean. IDB Lab believes that innovation is a powerful tool that can transform this region, as it provides with unprecedented opportunities to solve long-standing problems that are preventing vulnerable populations to improve their quality of live. IDB Lab provides financing and support to private sector driven projects or enterprises that advance innovative approaches, and test new models or technologies with the potential to address social, economic, and environmental development problems affecting vulnerable populations in Latin America and the Caribbean. The Investment Unit (INV) at IDB Lab is the unit responsible to originate and manage the portfolio of reimbursable operations. IDB Lab has the largest portfolio of early-stage and innovative companies (300+), including the investment in over 55+ venture capital funds as Limited Partner, and an extensive portfolio of loans. IDB Lab is currently advancing several strategic initiatives to improve its operational capabilities and potential for impact through its investment operations. It is currently sharpening its portfolio management team by creating a new function to deal with investment operations that are close to liquidation or present opportunities for monetization, and present low performance or governance issues in its execution. IDB Lab is looking to bring specific and much required expertise to manage special assets within the investment portfolio and guide liquidation processes, dialogue with clients in such situation and mitigate financial and non-financial risks while maximizing IDB Lab’s financial return. What you’ll do: As part of IDB Lab’s Portfolio Team, the objective of the consultancy is to conduct technical supervision and management of the portion of IDB Lab’s portfolio in special assets and liquidation situation, including a particular focus on IDB Lab’s Social Entrepreneurship Program (SEP). IDB Lab is looking for a senior consultant in its headquarters to:
  1. Manage a portion of investment portfolio assigned to the category of “special assets, especially financial operations with financial, reputational or governance issues or close to liquidation, composed of over 20 investments in venture capital funds, loans to innovative companies, and direct investments into startups.

  2. Manage a portfolio of loans linked to IDB Lab’s Social Entrepreneurship Program (SEP), including evaluating risks and taking preventive and corrective actions to non-performing loans, as well as assuring supervision and financial inflows of the portfolio.

  3. Negotiate and implement effective exit, turnaround and workout strategies designed to mitigate and control risks, ameliorate recoveries, and minimize expenses.

  4. Provide oversight and Analysis for special assets, assuring appropriate and legally well-thought approaches and decisions towards risk mitigation and monetization. Grade the operations in such portfolio based on periodic review of financial and other information/data that may prompt a risk grade change.

What tasks you’ll do:
  • Manage several projects (considered as special assets) within the IDB Lab’s financial portfolio and Social Entrepreneurship Program (SEP), which consist of equity investments in venture capital funds, direct equity investments in early stage firms, loans, quasi-equity and other Financial Instruments.

  • Propose terms and conditions of restructuring or designing workout strategies of assigned operations, based on the guidelines established by the IDB Lab.

  • Review loan and equity document, loan payments, past dues, loan collateral, covenant(s) compliance, financial statement reporting, pending maturities, forbearance agreements, bankruptcy, and other legal proceedings.

  • Assist IDB Lab’s Investment Unit Chief and Portfolio Management Team to formulate and discuss exit, turnaround, workout and/or liquidation strategies and action plan to minimize loss or maximize recovery to IDB Lab.

  • Execute orderly liquidation/exit, restructuring strategies, or rehabilitation plans to reduce the number of underperforming and non-performing investment operations.

  • Lead the dialogue and direct negotiations with meaningful private sector partners, including corporate clients, key players in the financial industry and in the innovation ecosystem, as well as venture capital fund managers, startups, and other potential clients, as needed.

  • Work closely with the IDB Lab’s Finance and Administration Unit to ensure compliance and optimizing efficient risk management and return of IDB Lab funds.

  • As part of the Portfolio Management Team fully dedicated to financial operations, ensure proactive risk portfolio management and devise strategy for asset quality improvement and managing exposure.

  • Complete review, analysis and reporting of business plans attributed to non-performing positions within the whole IDB Lab’s portfolio.

What you’ll need:
  • Citizenship: You are a citizen of one of our 48-member countries. We may offer assistance with relocation and visa applications for you and your eligible dependents.

  • Consanguinity: You have no family members (up to fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB Group.

  • Education: Master’s degree or equivalent post-graduate degree in one of the following fields: Economics, Finance, Business, Accounting, Legal or related field, preferably with an emphasis on credit and portfolio risk. Fields such as mathematics, statistics, and accounting are also suitable.

  • Experience: You have a minimum of six (6) years of experience on credit risk analyses, special assets management, portfolio management. With experience on Financial Institutions and with different investment products, preferably direct experience with venture capital funds (particularly from a Limited Partners’ point of view) and with loans and direct equity investments, including the analysis of Financial Statements and credit risk assessment.

  • Languages: You are fluent (written and oral) in both English and Spanish.

Core and Technical Competences:
  • Loss mitigation, credit modeling and advanced analytics.

  • Expertise in the use of standard methodologies used in financial projections and risk analysis of portfolios.

  • Deep understanding of the key operational, financial, management/governance and market factors that determine success in the implementation of financial operations.

  • Knowledge about analytic tools to measure, manage, and control credit risk.

  • Expertise in optimizing credit processes (origination, underwriting, pricing, administration, monitoring, and management), including audit data

  • Negotiations with clients and understanding of the legal environment and features of equities and debt agreements.

Opportunity Summary: Type of Contract: Consultant Length of Contract: 12 months, with possibility of annual renewal. Location: IDB headquarters in Washington, DC, USA Supervisor: IDB Lab Investment Unit Chief Requirements: You must be a citizen of one of the IDB’s 48 member countries and have no family members currently working at the IDB Group. Our culture: Working with us you will be surrounded by a diverse group of people who have years of experience in all types of development fields, including transportation, health, gender and diversity, communications and much more. Because we are committed to providing equal opportunities in employment, we embrace diversity based on gender, age, education, national origin, ethnic origin, race, disability, sexual orientation, and religion. We encourage women, Afro-descendants and persons of indigenous origins to apply. About us: The Multilateral Investment Fund (IDB Lab), member of the Inter-American Development Bank Group (IDBG) serves as an IDBG innovation laboratory to promote development through the private sector by identifying, supporting, testing, and piloting new solutions to development challenges and seeking to create opportunities for the poor and vulnerable populations in the Latin American and Caribbean Region. The IDB Lab works with leading organizations to facilitate and foster the generation of scalable solutions to the challenges facing Latin America and the Caribbean. Most of our partners are known for their potential to innovate, their local knowledge and their ability to promote and scale the solutions developed within our partnership. Visa and Work Permit: The Bank, pursuant to applicable policies, may submit a visa request to the applicable immigration authorities; however, the granting of the visa is at the discretion of the immigration authorities. Notwithstanding, it is the responsibility of the candidate to obtain the necessary visa or work permits required by the authorities of the country(ies) in which the services will be rendered to the Bank. If a candidate cannot obtain a visa or work permit to render services to the Bank the contractual offer will be rescinded “Due to the current Covid-19 pandemic and its implications for our Region, the IDB Group is reviewing its hiring needs and re-prioritizing its areas of talent acquisition. We encourage candidates to continue to apply to the active postings, yet current job openings may be subject to further decisions in terms of timing of the processes, or other actions, in accordance with business needs. Final hiring decisions may also be conditioned to the candidate’s ability to timely relocate to the post of duty at the moment of starting service.” Additional Information

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