We improve lives
The IDB Group is a community of diverse, versatile, and passionate people who come together on a journey to improve lives in Latin America and the Caribbean. Our people find purpose and do what they love in an inclusive, collaborative, agile, and rewarding environment.
About this position
We are looking for an energetic, collaborative, and highly motivated Senior Sub-sovereign Investment Specialist with significant subnational lending expertise to work alongside our technical experts to implement IDBโs new Sub-Sovereign Finance Program (SFP). The SFP is a 5-year pilot program to extend investment loans and guarantees to sub-sovereign eligible entities - including municipalities, states and provinces - without a sovereign guarantee.
IDB has a strong presence in the region, lending on average USD 2billion annually, through its sovereign guaranteed window, to support subnational governments in a variety of sectors. The SFP will introduce a new type of lending, enabling IDB to lend to creditworthy subnational entities to finance bankable projects without a sovereign guaranty. For many cities and other subnational entities, loans under the SFP will be the first time they are borrowing on a commercial basis.
Loans extended under the SFP are not designed to compete with other sources of financing; rather these loans will be designed to act as a demonstration effect to other lenders and to catalyze private sector financing. Thus, IDB may lend under the SFP alongside other lenders to fill a funding gap. Critical to these loans will be the borrowerโs ability to generate new revenue streams or demonstrate real cost savings to support debt repayment. To ensure loans are bankable, SFP loans will include a variety of measures, including new revenue sources or capturing cost savings. Measures such as land value capture, fiscal reform or affordable fees and tariffs will be critical to loans proposed under the SFP.
You will work in the Housing and Urban Development Division (HUD), part of the Climate Change and Sustainable Development Sector (CSD). This team is responsible for providing strategic guidance and analytical and operational support to the institution and its clients in subnational planning, urban regeneration, sustainable and resilient urban development, and housing.
What youโll do
Structuring and Execution
- Work as a senior project team member or as an operational leader on sub sovereign transactions, contributing to all aspects of project structuring. Specific activities will include:
- Assessing the attractiveness of specific investment opportunities with a strong focus on investment merit and impact.
- Designing bankable projects working with clients to introduce new revenue flows or ringfence real saving to help service new debt working closely with clients, authorities, consultants and IDB internal units.
- Overseeing and reviewing financial and technical due diligence to ensure it meets IDB standards, including detailed credit analysis on the project while working closely with IDBโs fiscal management team, which will be ultimately responsible for assessing creditworthiness of the key counterparts.
- Ensuring identified risks are mitigated and able to be monitored through the legal documentation.
- Preparing and negotiating term sheets and legal documentation
- Writing approval documents to present and defend to IDBโs management committees and board of directors.
- Design appropriate technical assistance to support investments under SFP that contribute to policy dialogue and capacity building initiatives.
Portfolio Monitoring and Reporting
- Take overall responsibility for the effective monitoring of all projects within his/her responsibility, including verifying the quality of regular monitoring reports; taking the lead in maintaining or supervising the management of client relationships; actively managing the resolution of any implementation/monitoring issues in cooperation with IDBโs internal departments
- Assist junior investment specialists who assist in portfolio monitoring.
- Supervise implementation and monitoring of, and reporting on, relevant Technical Cooperations assignments to ensure their compliance with donor reporting requirements, operational objectives and that all reports are of a high quality
- Ensure timely notification of any critical portfolio issues to Management.
Policy Dialogue
- In cooperation with relevant units within IDB, contribute to policy dialogue, reform and creditworthiness, improved efficiency and effectiveness of services.
- Provide essential support in securing grants and technical cooperation funds, which complement investment projects or are required as part of policy dialogue efforts.
Business Development
- Assist with marketing and business development efforts to build reputable market contacts to develop a broad deal flow and cross selling of the Bankโs competencies.
- Assist with the critical screening of project proposal flow generated through business development efforts.
What you'll need
Education: Masterโs degree in economics, finance, or a related field. Internationally recognized professional qualification such as ACA, CFA, ACCA, or CIMA is desirable.
Experience: At least five years of relevant professional and international experience in the financial industry, preferably with a leading investment or commercial bank or international financial institution.Strong quantitative/numerical skills are essential with the ability to interpret financial information and to design, use and review financial models. Credit analysis skills, with the ability to interpret accounts, understanding local and international accounting principles and practice of credit analysis.
Languages: Proficiency in English and Spanish, spoken and written, is required.
Requirements
- 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 the fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB, IDB Invest, or IDB Lab.
Type of contract and duration
International staff contract, 36 months initially, renewable upon mutual agreement.
What we offer
The IDB Group provides benefits that respond to the different needs and moments of an employeeโs life. These benefits include:
-A competitive compensation package, including an annual base salary expressed on a net-of-tax basis.
-Leaves and vacations: 24 days of paid time off + 8 personal days + sick leave + gender-neutral parental leave.
-Health Insurance: IDB Group provides employees and eligible dependents with a robust medical benefits program that covers medical, dental, vision, preventive care, and prescription drugs.
-Pension plan: defined benefit pension plan that provides financial security and support employees in planning for their future.
-We offer assistance with relocation and visa applications for you and your family when it applies.
-Hybrid and flexible work schedules.
-Health and well-being: Access to our Health Services Center that provides preventive care and health education for employees.
-Development support: We offer tools to boost your professional profile, such as mentoring, 1:1 professional counseling, training and learning opportunities, language classes, mobility options, among others.
-Other perks: Lactation Room, Daycare Center, Gym, Bike Racks, Parking, Spouse Career Program, and others.
Our culture
At the IDB, we work so everyone brings their best and authentic selves to work while finding their purpose. Our people consistently strive for excellence, and we recognize and celebrate the impact of their contributions.
In our efforts to drive innovation, we intentionally include all voices, cultivate a sense of belonging and champion fairness. We welcome individuals from underrepresented groups to join us and share their unique perspectives.
We ensure that individuals with disabilities are provided reasonable accommodations to participate in the job interview process. If you require an accommodation to complete this application, please email us at accommodations@iadb.org.
- Provide essential support in securing grants and technical cooperation funds, which complement investment projects or are required as part of policy dialogue efforts.
- In cooperation with relevant units within IDB, contribute to policy dialogue, reform and creditworthiness, improved efficiency and effectiveness of services.