Title:  Director, Investments Department

OVERVIEW

JOB PURPOSE

The Director of the Investments Department is responsible for overseeing the Bank’s investment portfolios, including OCR and Non-OCR Funds, Direct Equity, Investment Funds, and Awqaf Funds.The role involves hands-on portfolio management in active and passive asset management in multiple asset classes, managing and overseeing External Fund Managers (EFMs) and Awqaf sector initiatives. It requires strategically optimizing risk-adjusted returns, ensuring compliance with regulatory standards, and leading tactical asset allocation to enhance investment performance.Additionally, the Director drives macroeconomic analysis impacting investments, transaction compliance, valuation analytics, investment operations, and legal structuring, while overseeing relationships with Global Custodians, ensuring IT integration between EFMs and internal systems, and facilitating policy improvements.

KEY ACCOUNTABILITIES

Strategic Responsibilities (Long-term planning, governance, policy alignment):

• Define and lead investment strategies, ensuring optimal risk-adjusted returns across OCR, Non-OCR portfolios, and Awqaf investments.
• Collaborate with internal units and departments to refine and enhance the Bank’s investment policies and processes, including Awqaf Fund strategies.
• Review Strategic Asset Allocation (SAA) and submit mid-term policy updates and risk budget recommendations.
• Oversee ESG framework implementation across investments, enhancing responsible and sustainable investing.
• Manage relationships with Global Custodians, ensuring portfolio guidelines, compliance, risk, and performance parameters are correctly configured.
• Ensure proper sourcing and validation of benchmarks data, maintaining portfolio alignment with investment objectives.
• Lead the development and approval of the Annual Work Plan and Budget, ensuring strategic alignment and optimal resource allocation.
• Oversee the Awqaf Fund Portfolio, following up with stakeholders on required actions.
• Formulate sector strategies for Awqaf Funds, contribute to establishing International Awqaf Development Institutions, and facilitate new dedicated Awqaf Funds under the Bank’s oversight.

Tactical Responsibilities (Portfolio positioning, rebalancing, macroeconomic assessments):

• Prepare and deliver regular reports that integrate portfolio analytics, market outlooks, and strategic assessments. Evaluate macroeconomic trends, geopolitical risks, and investment implications on a quarterly and ad-hoc basis. Ensure reporting captures tactical portfolio adjustments, risk exposures, and performance outcomes, supporting strategic decision-making in alignment with investment mandates and governance expectations. (i.e., analytical and forward-looking, connecting portfolio performance with broader investment strategy and market dynamics).
• Implement tactical asset allocation strategies, portfolio rebalancing, and liquidity optimization.
• Monitor and report on EFMs, ensuring their adherence to investment mandates, risk budgets, and performance expectations.
• Validate Net Asset Values (NAV) and reconcile valuations between Global Custodians and EFMs, ensuring accuracy in private funds and direct equity holdings.
• Oversee sourcing of benchmarks data and communicate portfolio guideline changes at the IPS level and EFM level.
• Manage direct equity exits, redeploy proceeds with EFMs, and optimize portfolio liquidity.
• Conduct Awqaf-related investments and marketing activities, supporting outreach and investment mobilization efforts.

KEY ACCOUNTABILITIES

Operational Responsibilities (Transaction processing, compliance, legal structuring, system optimization):

• Portfolio Operations: Plan and process cash transfers, drawdowns, corporate actions, and tactical cash allocations via internal systems (Mysis) and Global Custodian systems.
• Lead KYC, KYT, and AML compliance for new and existing investments, ensuring risk adherence across EFMs, Global Custodians, and transfer agents.
• Manage onboarding of EFMs with Global Custodian, assisting managers with operational issues related to custodial services and compliance.
• Ensure risk, compliance, and performance reports are properly configured, periodically verified, and aligned with portfolio parameters.
• Execute investment transactions, coordinating legal documentation (LPA, Subscription Agreement, IMA).
• Facilitate Global Custodian, EFM, and benchmark provider fee validations and payments, including review of transfers.
• Lead operational due diligence, preparing risk notes for prospective EFMs as part of the approval process.
• Ensure all investment data and systems are properly managed and configured, maintaining integrity, efficiency, and adaptability.
• Performance Reporting: Oversee preparation and delivery of portfolio performance reports, ensuring accuracy, consistency, and relevance to investment objectives. (i.e., operational and metrics-driven)

Leadership Responsibilities:

• Provide inspirational and motivational leadership, setting a clear vision for the Department while ensuring direct reports understand performance expectations.
• Oversee departmental performance and resource management by delegating responsibilities effectively, establishing ambitious objectives, and providing regular, constructive feedback. Promptly address areas requiring improvement to ensure sustained excellence.
• Continuously assess and enhance departmental capabilities, identifying opportunities for skill development and strategic actions to maximize performance and impact.
• Strengthen team capabilities by addressing skill gaps through targeted capacity-building initiatives and strategic recruitment efforts.
• Coach, mentor, and develop direct reports and high-potential talent, fostering professional growth and leadership within the Department.
• Serve as a role model, exemplifying the Bank’s values and leadership competencies while providing guidance and support, particularly during periods of change.

ACADEMIC AND PROFESSIONAL QUALIFICATIONS

• Master’s degree in economics or business administration or finance or Investments or related discipline.
• A Chartered Financial Analyst (CFA) qualification is preferred and considered as an advantage.
• CFA/FRM/PRM Charter holder can be considered as an equivalent to master’s degree.
• Experience in the public sector, particularly with Multilateral Development Banks (MDBs) or Reserves Management, is essential.
• Proven expertise in overseeing and managing External Fund Managers to optimize investment performance and strategic alignment.
• Extensive hands-on experience in managing both active and passive portfolio management is an essential requirement.
• Minimum 15 years of experience in Asset Management (active and passive) / Investment Banking.
• 7+ years of managerial/ supervisory experience.
• Languages: English: Mandatory | Arabic: Preferred | French: Preferred

SKILLS & NECESSARY KNOWLEDGE

• Expertise in investment markets across various asset classes, with an advanced understanding of their dynamics.
• Advanced knowledge in investment risk-return assessment, ensuring strategic decision-making based on sound financial principles
• Advanced knowledge in Islamic Finance including principles, instruments, and regulatory considerations.
• Strong grasp of macroeconomic trends and their impact on investment strategies.
• Ability in responding to evolving business conditions, ensuring continued effectiveness and high performance within the Department.
• Ability to translate IsDB’s overall strategy into actionable steps that drive investment objectives.
• Commitment to confidentiality, ensuring the protection of sensitive financial and operational information.
• Composure and objectivity in high-pressure situations, maintaining professionalism and effective decision-making.
• Capability to conduct performance evaluations, assessing department-wide effectiveness and individual contributions.
• Strong planning and prioritization skills, enabling efficient management of tasks and resources.
• Proven experience in delivering presentations to the Board with clarity, strategic insight, and impactful communication.
• Ability to influence stakeholders through logical reasoning, fostering constructive dialogue and identifying pathways for agreement.
• Expertise in risk identification and mitigation, ensuring proactive management of investment uncertainties.
• Dedication to maintaining high standards, continually seeking improvements in processes and operational efficiency.
• Advanced report writing skills, delivering clear, well-structured, and impactful analyses.
• Proficiency in MS Office, SAP-FM, and JIRA, leveraging digital tools for financial management and operational efficiency.

ABOUT APPLICATION PROCESS

If you meet the criteria and you are enthusiastic about the role, we would welcome your application. To complete the application you would need the following document(s):

• Resume/CV
• Copy of passport
• Academic certificate

If you are currently an IsDB Regular staff applying for this role and get selected through the competitive selection process; your current contract type and other terms and conditions will remain unchanged.

The Islamic Development Bank (IsDB) does not ask for payments of any kind from applicants throughout the recruitment process (job application, CV review, interview meeting, and final processing of applications). In addition, the IsDB does not request information on applicants’ bank accounts. The IsDB declines all responsibility for the fraudulent publications of job posts or job offers in its name or, in general, for the fraudulent use of its name in any way whatsoever.