Lead Product Development Specialist – Islamic Development Bank , Saudi Arabia

Job Purpose:
Lead development and structuring of innovative financial products for the bank’s financing, funding and hedging activities. Identify needs of all units in the bank for product development or new variants of existing products. Review the structure of IDB funding instruments and develop structures to meet the need of proper asset-liability and liquidity management while remaining compliant with shariah principles. Support Global Partnership and Resource Mobilization unit in developing new off-balance sheet financing structures.

Key Accountabilities:
Strategy
Lead the development of the new financial products for the bank in line with financial strategies of the Bank to support the financial sustainability and financial resilience to absorb external shocks.
Product Development
Lead the development of new financial products for the Bank’s financing, funding and hedging activities.
Lead the development of new mechanisms, where required, for the pricing structure of the bank’s financing products that meets the needs of financial management and shariah compliance issues
Conduct surveys of the needs of all units in the Bank for product development or new variants of existing products to serve their business needs.
Review the structures of IDB funding instruments such as the array of Sukuk structures employed by the bank and develop structures where required to meet the need of proper asset-liability management and liquidity management whilst maintain compliance with shariah principles.
Lead the innovation of new structured instruments, as needed by businesses that provide ordinary and PPP financing.
Support the Global Partnership & Resource Mobilization unit in developing new off-balance sheet financing structures to support the Bank’s mandate and developing of new mechanisms such as Credit Wrap and Partial Credit guarantees.
People Management
Provide motivational and inspirational leadership to the team members and communicates clear performance expectations.
Coach, mentor, develop and provide regular feedback to the team members on results at a function level, promptly addressing areas of improvement.
Support filling in key capability gaps of the team through capacity development and recruiting efforts.
Act as a role model to communicate to the unit’s staff IDB’s values and leadership competencies and provides direction and support in times of change.
Operational excellence
Monitor the effective implementation and adherence to respective financial management policies, procedures and controls so that all relevant procedural / legislative requirements are fulfilled.
Keep abreast of the latest developments, regulations and leading practices in the field and proposes any necessary actions.
Provide necessary input for the preparation of the budget of the FPPA department and for the monitoring of actual expenditure against the approved budget.

Academic qualifications:
Masters degree in Finance, Financial Management, Investment, Banking, Economics or related field.
Languages:
English (mandatory)
Arabic and French (preferred

Working of Experience:
10 or more years’ experience in financial product development or related field and Shariah background on financial and economic transactions.

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