About FEDA: The Fund for Export Development in Africa (“FEDA”) is a $1 billion multi-investment platform and the impact investment subsidiary of Afreximbank. It was set up to provide equity, quasi-equity, and private credit capital to finance the multi-billion-dollar funding gap (particularly in equity) needed to transform the trade sector in Africa.
FEDA pursues a multi-sector investment strategy along the intra-African trade, value-added export development, and manufacturing value chain, which includes financial services, technology, manufacturing, transport & logistics, agribusiness, creative industry as well as ancillary trade enabling infrastructure such as industrial parks.
About Afreximbank: African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. The Bank disbursed more than US$104 billion between 2016 and 2023. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
Job Summary: We are seeking a highly experienced and accomplished Assistant Manager Finance and Operations (AMFO) to join FEDA, a leading multi-strategy impact investment platform. As the AMFO, you would play a pivotal role in overseeing the finance, administration and operations function of a multi-strategy investment firm ensuring effective strategic financial planning, financial management, reporting, service providers management as well as leading internal and external audits etc. The primary limited partner (LP) of FEDA is a top-tier multilateral financial institution, which adds specific requirements to the role. The AMFO will play a crucial role in ensuring effective financial management, compliance, operational efficiency, and risk management.
Duties and Responsibilities:
Financial Strategy and Planning
- Work closely with the Chief Executive Officer (CEO) and the Manager Finance & Operations, on executing the organization’s financial strategy in alignment with its overall goals and objectives.
- Under the leadership of the Manager Finance & Operations, execute the financial planning, forecasting, and budgeting processes.
- Financial Management and Reporting
- Under the leadership of the Manager Finance & Operations, support all aspects of the finance function for FEDA’s entities and fund strategies, including accounting, reporting, cash flow management, auditing (external audit and internal audit), risk and compliance processes.
- Support conception and completion of workstreams with internal and external service providers including external auditors, internal auditors, risk, and compliance service providers etc.
- Ensure accurate and timely preparation of quarterly Board and Investors reports as well as monthly, quarterly, and annual financial statements for all the FEDA entities.
- Support the investment team during transactions including capital calls, compliance with funds’ policies, approved due diligence budgets, establishment of investment vehicles as well as any tax or regulatory filings.
- Monitor and analyze financial performance of each of FEDA’s funds and identify opportunities for improvement and risk mitigation.
Fundraising and Investor Relations
- Participate in fundraising efforts, including the preparation of investors’ presentations and financial materials.
- Support CEO, Chief Investment Officer (CIO) and Manager Finance & Operations in building relationships with investors, addressing their financial inquiries, and providing transparent reporting.
- Support CEO, CIO and Manager Finance & Operations in communicating the organization’s financial performance and investment strategies to investors.
Compliance and Risk Management
- Ensure compliance with applicable laws, regulations, internal policy, and industry standards.
- Implement and maintain robust internal controls to safeguard assets and mitigate financial risks.
- Work closing with internal and external service providers to ensure adherence to internal policy, regulatory requirements, or best industry practice.
Leadership and Development
- Lead a small team of finance and administration professionals (mostly laterally), fostering a collaborative and high-performing environment.
- Cultivate a culture of excellence, accountability, and continuous improvement within the finance and administration department.
Skills and Competencies:
- Analytical Thinking: Ability to dissect complex financial information, identify key trends and insights, and draw logical conclusions.
- Valuation: Proficient in fair value of financial assets (IPEV guidelines), valuation and accounting of portfolio companies and various investment instruments used in the industry (e.g. straight equity, quasi-equity, mezzanine, convertible loan notes, fund of funds participation etc.)
- Attention to Detail: Strong focus on accuracy and precision in financial analysis, data interpretation, and report preparation.
- Communication: Excellent written and verbal communication skills in English, with the ability to effectively articulate financial reporting to Senior Management, instances of governance and external stakeholders.
- Adaptability: Ability to thrive in a fast-paced and dynamic environment, managing multiple projects and priorities effectively, with strong work ethic.
- Teamwork: Collaborative mindset, excellent interpersonal skills with the ability to work effectively within a team, across departments and with external partners.
Qualifications:
- Bachelor's degree in finance, accounting, economics, or a related field with a strong academic performance. An MBA/MSc in finance or accounting is preferred.
- Proven experience as a AMFO or in a financial role within a multi-strategy private equity fund. A minimum of 5 years of work experience in a similar role is highly desirable.
- Strong knowledge of fund structures, fund accounting and valuation techniques ( as per international private equity and venture capital association) for the private equity, debt fund and fund of funds sectors.
- Outstanding communication and presentation abilities in English, both written and verbal.
- Detailed-oriented, with excellent analytical and problem-solving skills.
- Ability to thrive in a fast-paced, deadline-driven environment.
