IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities. Our mission is to leverage the power of the private sector to end extreme poverty and boost shared prosperity on a livable planet. For more information, visit www.ifc.org.
Within the Disruptive Technologies, Services, and Funds Department (“CSF”), IFC’s Private Equity Funds Division (“CSFPE”) invests in (i) growth equity funds, (ii) venture capital funds, and (iii) small business funds focused on frontier, FCS and IDA countries. In addition, the Disruptive Technologies and Venture Capital team (“CSFDT”) invests in VC funds and venture/early growth companies that offer innovative technologies or business models with high impact potential in emerging markets.
The Corporate Portfolio Management team (“CPM”) is responsible for supporting business units in undertaking activities related to portfolio management and investment operations. CPM is seeking an experienced ETT to (i) work closely with the CSFPE team, which is responsible for the design, negotiation, structuring, and subsequent supervision of PE fund investment projects, and (ii) support the CSFDT team’s transaction origination, execution, and portfolio activities across its global portfolio of VC funds, direct investment, and co-investments.
CSFPE has co-located some aspects of its work program to IFC’s Chennai Office (CNTCO) to deliver it. This position is that of the ETT, which administratively reports to the Senior Team Lead (CNTCO) and functionally reports to CSF Managers.
Roles and Responsibilities
This position is envisaged as being complementary to CSF’s existing middle office capabilities. It will complement the roles of the existing team with an intentional approach to filling specific gaps in ways that will leverage and enhance the current team’s work and create overall efficiency gains. The roles and responsibilities of the position include but are not limited to:
Portfolio Management
• Track and cancel committed but unutilized amounts; close dormant/inactive projects
• Enforce development outcomes and reach data submissions annually
• Ensure correct filing of documents when a project is transferred from new business to portfolio or special operations
• Assist in managing projects, including Net Asset Value (NAV) workings and Rating updates
• Use Portfolio Screening Tools to identify system inconsistencies and follow up with Investment Officers to take corrective actions
• Provide procedural, administrative, and analytical support for appointing nominee directors on portfolio client boards
• Track IFC participation in annual and extraordinary general meetings of shareholders where IFC holds an equity stake
• Update the equity sales plan and equity ratings in coordination with investment officers and relevant departments
• Track and enforce quarterly completion status of Investment Risk Platform (IRP) actions and equity valuations
• Prepare data and materials for quarterly portfolio review and watch list meetings
• Track the receipt of audited financial statements, annual E&S reports, insurance policies, and other compliance-related items
• Maintain the Reporting Requirements Tracker (RRT) system for tracking receipt of portfolio financials, progress, insurance, environmental, and other periodic reports due from clients
• Monitor and support collecting bills and fees related to portfolio activities and clients
Disbursement and Workflow Management
• Track and manage the disbursement workflow cycle, ensuring timely processing and annual approval of ~650 disbursements
• Develop a tracking and prioritization system to monitor workflow progress, identify delays, and ensure timely approvals
• Continuously track and report the duration of workflows at each approval stage, identifying bottlenecks and taking proactive measures to address delays
• Develop and implement a tracking tool to collect, organize, and follow up on workflow comments and follow-up actions
• Ensure all comments and follow-up items are addressed and closed out in the tracker
Board and Advisory Committee Management
• Maintain an updated tracker of all board and board observer nominee seats and fund advisory committee (AC) seats and regularly track the progress of new appointments
• Compile and conform data from various systems on the status of the board, board observers, and AC nominations, identify bottlenecks, and follow up on delayed nominations
• Preemptively track upcoming board, board observer, and AC seats for newly committed funds
Data Management and Reporting
• Extract data from IFC’s management information system and produce analytical reports for the Portfolio Team
• Use Bloomberg to prepare regular reports on share prices, trading volumes, etc.
• Prepare briefing books and one-pagers for Senior Management visits
• Prepare and assist in preparing memos such as share voting memos and PDS-Change waiver/consent memos
Client and Team Coordination
• Coordinate with 50-100+ clients and internal portfolio teams across multiple time zones and geographies
• Schedule and document calls and meetings related to portfolio matters
• Maintain high-quality communication with regional and industry portfolio staff
• Properly disseminate documents within and outside the Corporation
• Monitor and manage the CSFPE and CSFDT central email accounts, ensuring emails are forwarded to the appropriate parties and financial documents are uploaded to core operational systems
Other tasks may be added to the scope of the role over time, based on the same approach of extending the capacity of the current middle office team by filling specific gaps in coverage. Generally speaking, this role is expected to create synergies with the current team by providing complementary time zone coverage to our existing team members, being located in proximity to the Financial Operations team (which provides back office processing and execution to our middle office) and having embedded backup abilities within a co-located IFC team.