Manager, Liquid Asset Management
IFC - Washington, DC

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The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is a global investor and advisor committed to promoting projects in its developing member countries that are economically beneficial, financially and commercially sound, and environmentally and socially sustainable. IFC finances private sector investments, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability, and provides technical assistance and advice to governments and businesses in the developing world.

Department Context

The Treasury Markets Operation Department in the Treasury and Syndications VPU consists of Funding, Liquid Asset Management and Cash and Money Markets divisions.

The Funding group raises funds for its lending activities through the issuance of debt obligations in the international capital markets. Borrowings are diversified by country, currency, source and maturity in order to provide flexibility and cost effectiveness. A consistent triple A credit rating based on conservative policies and excellent financial performance has assisted in building significant and distinct name recognition in the market place for the IFC.

The Cash and Money market Unit handles all of the Corporation’s banking relationships, cash management and foreign exchange activities. The Desk is also responsible for the cash holdings of the LAM portfolio and invests the money market part of IFC’s liquid assets. In addition, the team is in charge of the local currency investments related to bonds and swaps raised through the Local Currency Client Solutions Team.

The Liquid Asset Management Unit (CTMLM) manages the Corporation’s liquid assets comprised of market borrowing proceeds and IFC’s retained earnings and paid-in capital. The objective of Liquid Asset Management is to achieve reasonable returns while maintaining risks to IFC within acceptable levels all the while ensuring that funding for IFC investments is available as needed. IFC's assets are invested in a full range of highly rated financial instruments such as US and other government or agency bonds, repos, deposits, asset and mortgage backed securities, derivatives and emerging market instruments. CTMLM is a small group of highly motivated, team oriented professionals who work closely with IFC credit, operational, and accounting departments. The portfolio includes the following products:

  • High credit sovereign, sovereign guaranteed, and agency bonds in US dollars or asset-swapped in dollars;
  • Domestic and foreign asset-backed, mortgage-backed securities, and other structured finance products in US dollars or asset swapped in dollars
  • High credit corporate bonds;
  • Derivative products, including swaps futures and options.
Duties and Accountabilities:
IFC is recruiting a Manager whose primary responsibility will be the supervision of portfolio managers engaged in implementing the asset allocation strategy through active management against total return benchmarks, including USD LIBID and US Treasuries. The position is for a producing manager who will also have portfolio management responsibility.

Other responsibilities include, but are not limited to:
  • Managing structured strategic portfolio as well as short term overlay portfolio
  • Ensuring compliance with risk tolerances and investment guidelines
  • Managing relationships between CTMLM and the analytics, risk and accounting departments
  • Managing relationships with broker-dealers
  • Formulating market expectations and interest rate strategies;
  • Reporting of portfolio perfromance, including an assessment of the market, portfolio performance and attribution;
  • Providing and validating portfolio data for the accounting department
  • Contributing to LAM's risk management framework;
Selection Criteria:
  • Master Degree in Business, Finance or Accounting, preferably combined with a CFA;
  • Managerial experience in a trading environment;
  • 10+ years experience in liquid asset management related activities plus portfolio management experience;
  • Understanding of IFC’s risk tolerance and investment guidelines
  • Ability to interact with senior management and external counterparts
  • Outstanding knowledge and experience of markets and financial instruments including structured products, government and agency bonds, and derivatives);
  • Excellent understanding of the macro situation of large currency zones, USD, Yen, Euro;
  • Proven track record in identifying value and opportunities in various markets;
  • Strong quantitative skills;
  • Proven credit background and experience in analyzing fixed income instruments;
  • Open to initiatives and risks; comfortable to operate in an open, team-based environment; and
  • Excellent oral and written communication skills.
  • Meets World Bank Group Managerial Competencies at the H level:
  • Courage of your Conviction: demonstrate confidence in convictions and the integrity to express to peers and superiors even if it is easier or more comfortable to refrain from speaking up. Have the confidence, balanced with humility and judgment, to operate with the intent of doing what is right for the WBG and its clients
  • Leading the Team for Impact: Focus on the WBG purpose and mission in order to provide on-going clarity and vision to ones teams. Align capabilities and resources around the WBG mission. Create an energizing and empowering work environment where people are engaged and have the resources necessary to do their jobs, while holding team members accountable for results and improvement.
  • Influencing Across Boundaries: Persuade, convince and create buy-in for ideas and initiatives in order to advance one’s own goals and strategies, consistent with the WBG mission and vision.
  • Fostering Openness to New Ideas: Create open and innovative climate for people around. Be transparent, open to divergent views and encourage these attributes in others. Promote broad thinking and frank discussion, welcome others’ input into the decision-making process, and build on others’ ideas.
  • Building Talent for the Future: Build people’s capabilities for the future by supporting and leveraging the diversity of staff in terms of their race, gender, nationality, culture, educational and professional backgrounds. Create growth opportunities for others, encourage them to stretch beyond their current experience or comfort zone. Provide ongoing feedback and development, including long term career development and mentoring, as well as hold the team members accountable for developing others.

IFC - 17 months ago - save job - block
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About this company
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries....