Director, Head of Office – Morocco recruitment
Role Overview
The Head of Office for Casablanca Resident Office manages all aspects and activities of the new Resident Office and potential future offices in the country and takes a leading role in ensuring the Bank's business in Morocco, a new country of operation. He/she will have the overall responsibility for articulating and implementing of the Bank country strategy, developing the business mainly with private sector and strengthening its relationship with the Government, as well as managing the Resident Office and the local team. This is a Director level position and will report to the Managing Director for the Southern and Eastern Mediterranean region.
This position will be based out of our London Headquarters for a transition period before a permanent transfer to Casablanca.
Background
The EBRD's mandate is to finance investment projects with the objective to foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiative in its countries of operation. In its 29 existing countries of operation across central and Eastern Europe and Central Asia, the Bank committed EUR 9.1 billion in funding over 380 projects in 2011. The EBRD's shareholders are in the process of extending the Bank's mandate into Egypt, Jordan, Morocco and Tunisia, countries of the Southern and Eastern Mediterranean region (SEMED). Annual business volume in the SEMED region is projected to reach EUR 2.5 billion in the medium term.
In Morocco, as one of the four new EBRD countries of operations, the Bank has initiated technical assistance (TC) and project preparation activities and is building up its local team. So far five TC assignments representing EUR 7.6 million are in process. It is expected that the Bank will be able to start financing investment projects within the third quarter of 2012 using a special shareholders' fund, ahead of the start of regular financing operations in 2013.
The Bank has defined the strategic direction for its Moroccan operations which address some of the key challenges facing the country. It draws on the Bank's experience in promoting the process of economic transition in central and eastern Europe and provides use of the full range of financial products including equity, loans and guarantees.
The following six strategic themes have been identified for the Bank's operations in Morocco:
1) private sector financing: boosting private sector job creation; 2) agribusiness value chain modernisation: promoting food security and rural employment; 3) financial sector modernisation: enhancing financial sector efficiency for economic growth; 4) diversification of financing sources for infrastructure: mobilising private sector investment for accelerated infrastructure development; 5) sustainable energy: providing clean energy sources and improving energy efficiency for energy security and economic competitiveness; 6) decentralisation and municipal infrastructure development: better access and quality of urban services for the population. The development of the country's infrastructure will require substantial grant co-financing to address affordability constraints. To ensure maximum leverage of grant and concessional financing EBRD endeavours to co-finance public infrastructure projects with other IFIs and donors such as the EU through its Neighbourhood Investment Fund (NIF).
In addition, we will maintain a pro-active policy dialogue with the authorities on the creation of sound policy, regulatory, legal and general business environment as a crucial aspect of the Bank's work, aimed at supporting the development of a well-functioning market economy.
The challenges are diverse and stimulating. The most important reward is the contribution to a successful economic and democratic transition in Morocco.
Key Responsibilities and Deliverables
- Work with the Managing Director to continue to set the strategic direction for the EBRD in Morocco and be responsible for the implementation of the country strategy. Ensure that the dedicated country resources, budget and staff are appropriately managed in order to achieve the respective commitments and targets.
- Advise the Managing Director on relevant operational and strategic matters; prepare proposals for the country's strategy, annual business plan and budget.
- Lead business development efforts through actively promoting the Bank's products to all potential clients (local enterprises, financial institutions, utilities, central and regional governments) operating in Morocco.
- Assume final responsibility for the origination, execution and implementation of the projects in Morocco ensuring that the quality of financial analysis, transaction structuring and carrying out of projects meet the highest standards, further the EBRD's transition mandate and satisfy its operational principles. Also working closely with the Sector Teams and the local banking sector to identify, develop and structure equity and other complex products as well as more sophisticated client solution across sectors in Morocco. Review and approve projects and projects documentation for examination and approval by the Bank's Operations Committee and Board. Ensure the quality and thoroughness of inter-departmental consultation on such projects prior to Committee and Board review and of their presentation.
- Represent the Bank at senior government level including local authorities and lead proactively policy dialogue with the authorities.
- Develop and maintain key relations with the business community, local financial institutions and foreign investors as well as in political and civil society circles including representation at relevant conferences and business/investors associations.
- Assert and protect the special privilege, exemptions and immunities of the Bank, its personnel, premises, records and facilities in the region.
- Assume overall responsibility for the management of the Casablanca Resident Office, its staff and other departments' staff based in Casablanca. Manage and optimise sector bankers based in the country in partnership with sector team management as part of our matrix structure (including recruitment, compensation, performance management and professional development). Liaison with Human Resources, Administration and other relevant departments.
- Assume full responsibility for the management of the Casablanca Resident Office and yearly office budget and cost-control.
Essential Skills, Experience Qualifications
- Minimum of 12+ years of relevant and commercial work experience at a major merchant/investment, commercial or development bank.
- High level banking skills, sophisticated technical skills and demonstrable experience and expertise in origination, structuring and monitoring of projects.
- Experience in leading policy dialogue, to articulate policies and strategies and to represent the Bank with government and local authorities, EU, EIB, WB and other IFIs or bilateral institutions, the business community, donors and media.
- Experience in building credible contacts in political, business and civil society circles.
- At least 5 years of proven successful managerial experience and leadership skills, demonstrated ability to achieve outstanding performance through a people centred approach to management.
- Experience in building a team and a business.
- Advanced understanding of investment and financial analysis and their application in investment decisions and transaction structuring coupled with strong credit background.
- Degree from a leading university (e.g. business administration, economics, finance) or equivalent in work experience.
- Very good written and oral communications skills in English and in French are essential.
- Prior experience in the SEMED region would be an advantage.
Competencies Personal Attributes
- Proven leadership - a strong leader with proven ability to motivate, guide and develop staff and to foster team playing in order to deliver the business goals.
- Strategic thinking ...