OPEC Fund for International Development Recruitment –This is to inform the general public about ongoing job recruitment at OPEC Fund for International Development for suitable and qualified candidates. more details about OPEC Fund Recruitment including your roles, requirements, how to apply, and other essential information is stated in this article.
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 and executing disbursement, issue, collection and settlement 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.
Roles/Responsibilities
Policy development and implementation:
- 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.
Monitoring and review:
- 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.
- Completes 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.
- 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.
Reporting:
- 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.
Training delivery:
- Participates, where necessary, in approved missions with the Operations Departments in order to provide information and training to borrowers on the Fund’s rules and regulations in this area.
Leadership and direction:
- Coaches and coordinates with other team members of the Loan Management Function and participation in cross-department projects.
- Develops and mentors less experienced staff and supports personal development plans.
Coordination and planning:
- 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 preparation of the work plans of the Loan Management Function, and recommend measures to ensure efficient timely distribution of workload across the Function.
- Carries out other tasks assigned by the Director that are related to the job function.
Qualifications and Requirements
- 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.
- A good understanding of the Fund’s operations (particularly the areas of public and private sector, grants operations and trade financing).
- Proven track record and familiarity with 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.
- 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.
How to Apply
Interested and qualified candidates should:
Click here to apply