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 position below:
Job Title: Senior Loan Management Officer
Location: Austria
Job Profile
The Senior Loan Management Officer is responsible for planning, managing and monitoring disbursements, issue collection and settlements, posting of loan repayments, interest income and other relevant fees, and non-performing loans, and for maintaining accurate records of transactions in the loan accounts, all in accordance with the institutional strategy and framework.
Duties and Responsibilities
Prepares and submits a work plan for the approval of the Director, Financial Administration and implements it with all the necessary initiatives and actions required within the framework of the OPEC Fund’s loan disbursement and repayment management strategies and regulations
Reviews and validates financial terms and conditions of loans, guarantees and grants
Ensures timely and accurate update of data pertinent to loan terms and conditions in the information systems; prepares loan-billing statements for front-end fees and other origination fees
Verifies the application of arrears sanctions in accordance to the Fund’s policy
Reviews withdrawal applications to ensure compliance with the Fund’s disbursement procedures and contractual obligations prior to payment
Initiates the execution of outgoing payments for loan disbursements, equity investments and grants
Verifies that disbursements are promptly and correctly posted in the information system; prepare loan statements, advice on debit/credit, among others, where necessary, for use by the borrowers
Determines applicable interest rate for floating rate loans and issue interest rate setting notice
Coordinates periodic reconciliation of SAP / CML loan subsidiary accounts with the general ledger, as well as follow up on all outstanding items
Manages the issuance, amendment and cancellation of reimbursement guarantees to commercial banks in consultation with the Fund’s General Counsel & Legal Services and Operations Departments
Analyzes, reviews and timely issues loan claim letters to borrowers
Tracks repayments due and reconcile allocation of incoming payments through Fund’s accounts and the respective postings in relevant loan account registry
Identifies, follows up and reports loans in arrears
Prepares schedules and contributes to periodic reports for disclosure in the Fund’s financial reports and for use by the Fund’s Management and Governing Board
Contributes to preparation and maintenance of the general framework of the Fund’s loan repayment management activities as defined by the Director, Financial Administration and/or the ADG, Financial Operations Department
Cooperates with the Operations Departments to ensure that the impact of new financial products on financial operations is duly considered prior to implementation
Coaches and coordinates with other members of the Loan Management group and participation in cross-department projects
Develops and mentors less experienced staff
Coordinates with relevant departments, units and officers to ensure the correctness and consistency of data in the information system
Assists the Director, Financial Administration in the planning of the Unit, and recommend measures to ensure efficient timely distribution of workload across the unit
Carries out other tasks assigned by the Director that are related to the job function.
Qualifications and Experience
Master’s degree in Finance / Business, majoring in Accounting, Financial Control, Business Administration or other relevant fields
Preference for a recognized Accounting / Finance certification such as the CA or CPA
A minimum of 10 years relevant professional experience
Preferably 3 - 5 years of experience in an international development institution
Fluent in English. Good working knowledge of French, Arabic, German or Spanish is an added advantage.
Competencies:
Strong analytical thinking: Ability to use complex analytical techniques to break down problems into pieces and see the complex relationship among them, develop alternatives and calculates the cost / benefit analysis
Team player & demonstrate leadership: ability to value and encourage other members to actively participate in the team
Ability to define priorities and set targets, to take decisions based on these and to evaluate the effectiveness of the decisions taken
Knowledge of financial accounting; knowledge of exchange rate policies; knowledge of taxation and the design of fiscal regimes for resource extraction
A good understanding of the Fund’s operations (particularly the areas of public and private sector, grants operations and trade financing)
Proven track record of debt relief and concession issues & put it into excellence in execution and performance
Familiar with SAP-CML Enterprise Resource Planning (ERP) systems with a high degree of integration.