Duty Station: Addis Ababa, Ethiopia
Closing Date: 30 November 2022
Job Description
General Background
The OEC: The Organisation of Educational Cooperation (OEC) is an international intergovernmental organisation, founded in January 2020 by countries from across the Global South, to “contribute to the equitable, just, and prosperous social transformation of societies by promoting balanced and inclusive education, in order to attain the fundamental rights to liberty, justice, dignity, sustainability, social cohesion, and material and immaterial security for the peoples of the world”.
The CLUB: The Common Leveraging Union of Borrowers (CLUB) – a key instrument of the OEC – is an innovative solution to the several challenges and constraints faced today by sovereign borrowers in the Global South. The CLUB is a union of borrowing countries (OEC Member States) which have combined forces to jointly apply for development loans, oversee the national utilisation of the loan funds, and repay the borrowed amounts. This novel approach, which seeks to be operational in the next two years, has numerous potential benefits for low-income borrowers, including unhindered access to debt instruments, enhanced bargaining power in loan negotiations, and incentives for effective loan utilisation. The CLUB is hosted within the broader OEC organisation and is managed directly by the OEC’s Department of Financing for Development (FINDEV).
The main functions of FINDEV are to:
a. provide technical and policy support to Member States in developing context appropriate frameworks for the implementation of sustainable public private partnerships
b. host and support the Common Leveraging Union of Borrowers (CLUB)
c. collectively secure more favourable financing and debt relief for the CLUB members
d. reinforce the case and actively advocate for a more equitable international financial system considering the interests of Member States.
Role Summary
Under the overall authority of the Secretary-General, the guidance of the Under-Secretary-General for FINDEV, and the direct supervision of the CLUB Coordination Chief of Section, the Senior Investment Officer will be responsible for providing financial analysis and advice on the terms of the loan proposals/agreements as well as support the Creditor Liaison Officer during the loan/debt negotiation phase with prospective lenders. This position provides the unique opportunity of joining the core team of a new international organisation – contributing to its lasting construction and influencing its future trajectory – and an innovative international financing instrument.
Duties
- Provide financial analysis and advice to the CLUB team on the terms of the loan proposals (i.e., amount raised, maturity period, debt covenants etc.)
- Support the CLUB negotiate the key terms of debt agreements with lenders. These include, but are not limited to, interest rates, term structure, financial covenants etc.
- Provide financial advice to the CLUB team prior to accepting or rejecting loan/debt agreements and work with the Legal Advisor to review the accuracy of each agreement
- Provide updates to the CLUB team on a bi-weekly and ad-hoc basis on current market conditions and deals pipeline
- Conduct analysis to assess the attractiveness of specific financing opportunities with a strong focus on credit quality and development impact
- Contribute to developing discussion materials including reports and presentations for discussions between the CLUB and prospective lenders
- Review the financial analysis and debt valuation models provided by the Investment Analyst
- Line manage the Investment Analyst
Competencies
- Strong academic qualifications at master’s degree level or higher
- Proficient use of Microsoft Office and in particular Excel and PowerPoint
- Advanced modelling in Excel (VBA/Macros) and knowledge of programming languages / statistical tools (Python, R, STATA) is highly appreciated
- Very good understanding of valuation theory, methodologies, and applications
- Demonstrated experience in international development finance is not required but will be considered an asset
- Proven experience in debt agreement negotiations and/ or loan syndication are a major plus
- Excellent verbal and written communication skills
- Strong interpersonal skills
- Strategy formulation and deal negotiation experience are assets
Qualifications
- At least 10 years of relevant experience, working at an international financial institution and/or investment banking departments with emphasis on Debt Capital Markets. Previous experience at a multilateral development bank is particularly relevant and appreciated
- Master’s degree (or higher) in Finance, Economics, or other related fields
- Professional qualifications (CFA, FRM or accountancy qualifications – CPA or equivalent) are also an asset.
Language Requirements
Candidate must be fluent in English. Additional fluency in one or more OEC official languages (Arabic, French, and Spanish) will be considered an asset.
HOW TO APPLY
This position is open to international applicants.
All applications must be sent to HRE@OEC-OCE.ORG and must include:
- Subject line: “CLUB [JOB TITLE] – Application”
- Curriculum Vitae
- Letter of Motivation
- Any other relevant information