THE GHANA INFRASTRUCTURE INVESTMENT FUND
The Ghana Infrastructure Investment Fund has been established pursuant to The Ghana Infrastructure Investment (GIIF) Act, Act 877 of 2014. GIIF’s mandate is to provide financial resource to manage, coordinate and invest in a diversified portfolio of infrastructure projects in Ghana for national development. The GIIF is governed by a nine-member Board, appointed as per section 8 of the Ghana infrastructure investment fund Act, 2014. Applications for the following positions are now being sought-
CHIEF EXECUTIVE OFFICER (CEO)
The Chief Executive Officer (“CEO”) is responsible for leading the development and execution of the GIIF’s long-term strategy with a view to achieving national objectives for the GIIF and creating shareholder value. The CEO’s leadership role also entails ultimate responsibility for all day-to-day management decisions and for implementing the GIIF‘s short, medium and long-term plans. The CEO acts as a direct liaison between the board and management of the GIIF and communicates to the Board on behalf of management of GIIF. The CEO also communicates on behalf of the GIIF to Government, employees, their stakeholders and the public.
- Develop a well-defined business strategy for the fund in line with the Fund’s Investment Policy Statement and financial objectives.
- Promote the Fund and Infrastructure investment in Ghana with the aim of securing co-investors to invest in the commercial infrastructure projects.
- Establish management processes and specific performance measures that clearly support the long-term strategy.
- Assess performance and make timely changes in strategy, structure and resource allocations.
- Define appropriate long-term financial objectives and set annual goals consistent with the business strategy and the Fund’s Investment Policy Statement.
- Establish, monitor and maintain appropriate management systems to provide effective control of operations.
- Lead the organization with a clearly defined sense of business direction and purpose.
- Create a culture of competence and integrity with an emphasis on compliance with the Act and risk management.
- Effectively communicate GIIF’s vision and values for GIIF to all employees and foster a culture of integrity throughout the organization.
- Ensure that there is in operation an effective frame work of governance which provides the direction and parameters within which business is to be conducted, aligning accountability and authorities and define any required policies, standards and guidelines.
- Promote the development of effective recruiting, training, retention and management development programmes for all employees.
- Effectively serve as the institution’s liaison with the infrastructure industry and investor community.
- The successful candidate will be an experienced infrastructure and investment executive with a minimum of 15 years related experience, at least half of which has been gained at a senior level in investment banking, infrastructure finance or asset management. Experience in leading an investment management team, writing strategic plans, locating, structuring, negotiating, and financing commercial infrastructure transactions.
- Should have proven experience in managing people, programmes and processes. A successful track record of locating, structuring, financing, managing and disposing a successful infrastructure investments.
- A very strong proficiency in fixed income and equity investments.
- Raising debt capital to support new acquisitions initiatives and existing properties, with a proven track record in managing an infrastructure business.
- Bachelor’s degree from an accredited institution in business administration, economics, engineering or finance complemented by MBA and/or professional certification in a relevant discipline.
CHIEF INVESTMENT OFFICER (CIO)
- The Chief Investment Officer (CIO) will report to the CEO. The position is responsible for overseeing the investments and investment managers of the GIIF. The CIO will be guided by the “The Investment Policy Statement” of the GIIF.
PRINCIPAL DUTIES AND RESPONSIBILITIES
- Sourcing infrastructure investment by developing and executing new strategic infrastructure investment alternatives.
- Identifies potential strategic commercial infrastructure investment trends and opportunities.
- Create and maintains a team of professionals (internal or external) to originate, analyse and design appropriate financing structure, and also close, manage sell infrastructure investments.
- Leads underwriting and due diligence activities.
- Briefs the Board of directors on proposed investments.
- Identifies source of financing.
- Contributes to the assets purchased and disposal process in terms of strategy, pricing, listings, and negotiations relative to the purchase and disposal.
- Works with professionals to structure and negotiate infrastructure transactions.
- Oversees closing of transactions.
- Responsible for the management of the investment group.
- 10+ years of relevant work experience in investment banking, infrastructure finance or asset management.
- The successful candidate will be an experienced infrastructure and investment executive with experience typically gained in investment banking, asset management or infrastructure finance.
- Should have proven experience in managing people, programmes and processes. A track record of locating, financing, managing, and disposal of successful infrastructure investments.
- Experience in leading an investment management team, writing strategic plans, locating, structuring, negotiating, and financing commercial infrastructure transactions, raising debt capital to support new investment initiatives and existing projects and have a proven track record in managing an infrastructure business.
- Bachelor’s degree from an accredited institution in business administration, economics, finance or engineering, complemented by a Master’s degree with an emphasis on finance, investments or economics. A CFA qualification would also be preferable.
CHIEF RISK OFFICER (CRO)
The Chief Risk Officer (CRO) will report to the CEO. The CRO provides proactive oversight of financial and operational risk within the GIIF, including the assessment and management of credit and market risks. More specifically, the CRO is responsible for strengthening the Fund’s capacity to identify and manage the credit risk present in the Fund’s project portfolio and its treasury activities (including investments and financial derivatives portfolios). He/She also oversees the management of the Fund’s exposure to market and operational risks.
PRINCIPAL DUTIES AND RESPONSIBILITIES
- As a key of the strategic management team of the GIIF, the CRO provides and thought leadership in the design, implementation and periodic review of organisation’s risk management framework and policies. The CRO works with senior management and represents GIIF’S management team before the Board of Directors on issues pertaining to risk management responsibilities.
Specific accountabilities include:
- Managing a highly skilled, interdisciplinary staff.
- Designing, seeking approval and maintain up-to-date risk management and compliance frameworks for the Fund, including applicable policies and guidelines.
- Ensuring regular update of the organisation’s credit rating and overall risk profile.
- Chairs the Risk and Compliance Management Committee (RCMCO).
- Collaborating in the risk assessment process for new infrastructure projects, counterparties for investments and new funding.
- Providing an objective review of the credit quality of the Fund’s project.
- Actively contribute to the management of the Fund’s impaired assets with the goal of maximizing asset recovery.
- Promoting and maintaining a network of external contacts relevant to overall risk management.
- Developing annual plans, budgets and corresponding business objectives of Risk Management Division.
- Ensuring successful achievement of plans and objectives within established budgets and timeframes.
- Fostering a mature risk culture, including the sharing evolving best practices.
- Providing critical inputs and assisting with the development of strategic and annual plans for the organization.
- Undertaking regular compliance, monitoring and reviews.
- Reporting to the CEO and the Board on Risk Management and Compliance.
- 10+ years of relevant work experience in banking or financial institutions, including leading roles in risk management or other relevant disciplines and proven track record of managing risk successfully.
- A seasoned and innovative risk management expert with strong leadership skills, people management abilities, strategic vision and proven track record at international and complex organisations.
- Proven track-record and expertise in the assessment and management of key financial risks, including credit and market risks of complex products and lending transactions.
- Must have a strong understanding of project finance and project finance activities, including construction risk, mezzanine financing, project procurement, as well as capital markets capital market activity, including the mechanics of investments funding, swaps, liquidity management and derivatives.
- Must have a strong understanding and experience with best business practices in the quantification of various types of risks, including the ability to manage portfolio of projects and credit exposure in an efficient manner.
- Proven transactional experience, including the assessment of financial and legal structures for both project financing, tendering processes, construction, lending and investment products.
- Strong communication skills and diplomacy, including the ability to explain complex technical concepts to a non-expert audience.
- An advanced degree, Master’s or equivalent, in finance, mathematics, business administration or other relevant area and/or a professional certification in a relevant discipline.
Submissions accepted until: 14th December, 2015
Elizabeth Hamilton, Head of Asset Management