Infrastructure Finance Specialist (IF)

Job Description

The Infrastructure Fund (IF) announced by the President in September 2018 addresses the need for a dedicated blended financing facility for infrastructure programme projects. The aim of the IF is to transform public infrastructure financial provisioning using “blended” finance - combining capital from the public and private sectors and Development Finance Institutions (DFIs)/Multilateral Development Banks (MDBs). This will be dedicated to meeting the financing requirements for hybrid projects.

The mandate of the Infrastructure Fund has been captured in a Memorandum of Agreement (MOA) between the National Treasury, Infrastructure South Africa (ISA), and the DBSA entered into on 17 August 2020.

The role of the Infrastructure Finance Specialist is to provide financing and advisory solutions for infrastructure development.

Key Responsibilities

KEY PERFORMANCE AREAS

1. Strategic Outputs

• Support the expansion of IF’s project pipeline, especially in infrastructure that is being targeted to mobilise public and private sector financing.
• Ensure long-term financial planning and modelling in collaboration with the Treasury and Finance teams.
• Support public sector in the development of Public Private Partnerships (PPPs) and in financing of large infrastructure projects in order to assist government’s efforts to advance Sustainable Development Goals (SDGs).
• Prepare various documents and management reports for Executive Committees, Boards and Stakeholders.

2. Infrastructure Financing

• Prepare a project finance model using Microsoft Excel / workbook and calculation algorithms premised on accounting rules. The project finance model should be suitable for investment analysis, debt structuring and operational scenario evaluation.
• Utilise project finance models to conduct financial and sensitivity testing which are critical in determining the effects and changes in input variables on key financial outputs.
• Advise clients internally and externally on the development and effective implementation of public / private investments for sustainable development in infrastructure with a specific focus on financing solutions.
• Support Leads during preparation, structuring, negotiation, and closing of transactions of investment and policy operations.
• Conduct the financial analysis and modelling tasks within project teams working on guarantees operations and other financial structures to mobilise commercial capital for development purposes.
• Work as an integral part of the project / programme team, to conduct due diligence for infrastructure finance operations with a special focus on structuring financial solutions for raising new funding and debt restructurings.
• Develop and deliver sustainable financing structures, models and solutions for IF clients through various products which include (amongst others) blended finance structures Public Private Partnerships (PPP) structures, B-BBEE funding structures, local currency funding, guarantees and derivative hedges.
• Develop and implement various innovative financing instruments to unlock and accelerate infrastructure delivery. These instruments include (amongst others) blended finance instruments, working capital facilities, bridging finance facilities, project bonds, CPI-linked debt, green bonds, project preparation facilities, construction performance bonds, price risk management and hedging products, customised vendor financing solutions.
• Develop and implement financial advisory solutions for the IF including (amongst others) technical, financial, environmental, insurance bank services.
• Access financial markets to fund IF investments and operations to foster sustainable economic development, create wealth and improve infrastructure in South Africa by investing in infrastructure and other productive sectors.
• Ensure that all investment projects are taken to bankability through amongst others, evaluation of the feasibility of investment opportunities with a view of ensuring that they are commercially sound for financing. This must be performed in alignment with the agreed strategy and mandate, due diligence process, deal structuring, facility agreements with clients, risk mitigation, etc.
• Assist with the execution of transactions and the credit approval process to facilitate the structure and negotiate the detailed terms of the deal / transaction in liaison with Treasury, Legal, Portfolio Management teams to ensure the approval of transactions through the various approval committees.

3. Stakeholder Relations and Engagement

• Develop and manage relationships with key stakeholders and decision makers (in government entities, development banks, private companies and commercial banks) to contribute to economic and infrastructure development.
• Build and maintain strong relationships with clients and project operators
• Network and maintain relationships with key internal and external stakeholders to enhance the mandate of the IF.

Perform other strategic and operational duties as assigned.

Key Measurements of Outputs:
1. Quality financial models and solutions
2. Value and number of project approvals, commitments and disbursements.
3. Value of infrastructure catalysed
4. Value of Private & Public Sector partnerships and funding
5. Clean audit

KEY INTERNAL LIAISON RELATIONSHIPS
1. Head: Infrastructure Finance
2. Chief Investment Officer: IF
3. CEO & Exco
4. DBSA Board & Committees
5. Relevant DBSA Divisions
6. IF Team

KEY EXTERNAL LIAISON RELATIONSHIPS
1. Infrastructure South Africa
2. National Treasury
3. Government Departments and SOCs
4. Public & Private Sector Stakeholders
5. External Service Providers
6. Development Finance Institutions
7. Capital Markets

Expertise & Technical Competencies

QUALIFICATIONS & EXPERIENCE:

Minimum Requirements
1. Post-graduate qualification in Development Finance, Finance, Business, Engineering or Economics.
2. A minimum of 8 years demonstrable experience in project finance, the financial and infrastructure finance arena at a mid-tier professional level.
3. Experience in investing in infrastructure in emerging markets, ideally in a diversified portfolio in different sectors of infrastructure (energy, transport, etc.).
4. Exposure to working on new or innovative projects and programmes.
5. In-depth experience in working with deal teams private and public sector investments.
6. Demonstrated experience in infrastructure finance and development.
7. Proven ability to build a project finance model using Microsoft Excel / workbook and calculation algorithms premised on accounting rules for investment purposes.
8. Proven experience in project risk identification, management and mitigation.
9. Knowledge of the banking sector and financial markets.
10. Knowledge of the legal and regulatory environment for infrastructure procurement in SA.
11. Good understanding of infrastructure investments.
12. Demonstrable experience in assessing investment transaction opportunities and projects from early review to bankable debt financing deals.
13. Ability to provide value to transactions for the benefit of and/or the client through knowledge of the subject, innovation and lateral thinking.
14. Knowledge of legislation, regulations, policies, processes and procedures governing the infrastructure planning and development in South Africa (e.g. PFMA).

TECHNICAL COMPETENCIES:

a) Risk Identification & Assessment Skills

• Advises on applicable aspects of risk identification and assessment.
• Assesses and links short-term tasks in the context of long-term business strategies or perspectives.

b) Business Development

• Initiates, reviews and interprets competitor environment reviews.
• Formulates and modify market approaches based on competitor analyses.
• Generates new business opportunities in public and private sector delivery of infrastructure.
• Identifies and develop new markets, products and clients.
• Builds capacity to conduct project origination exercises.

c) Business Acumen

• Good understanding of commercial drivers and is able to take decisions based on an assessment of alternatives concerning complex business situations.
• Good understanding of economic priorities of South Africa and Africa and how they can be implemented to meet the organisation’s strategic objectives.
• Good understanding of the need to coordinate efforts with many government entities, private sector, community groups and individuals to ensure effective implementation of new policies and regulations.
• Takes actions to fit business strategy.
• Assesses and links short-term tasks in the context of long-term business strategies or perspectives.
• Reviews own actions against the organisation's strategic plan; includes the big picture when considering possible opportunities or projects or thinks about long-term applications of current activities.
• Anticipates possible responses to different initiatives.
• Understands the projected direction of the industry and how changes might impact the organisation.

d) Deal Origination

• Identify, conceptualize and structure projects and opportunities and develop new and alternative financing mechanisms.
• Formulate and develop new and alternative financing mechanisms and concepts that can be replicated elsewhere within and outside SA.
• Conceptualise and develop innovative funding instruments (equity, venture capital, mezzanine, debt, securitisation of projects, etc.) to finance infrastructure that would otherwise not be possible relying on the market only to develop and propose these investment opportunities.
• Proactively develop impact concepts to take to the market.
• Formulate new products.

e) Deal Structuring

• Uses credit enhancement techniques to structure deals and optimise pricing in terms of Basel principles.
• Has a good and practical understanding of how to optimise the Capital Structure, collateral package, and debt repayment profile.
• Builds and interrogates financial models, including those with a high degree of complexity, to develop an optimal structure.
• Identifies complex structural issues that need escalation and proposes appropriate bankable structures.
• Demonstrates knowledge on advanced structuring including the use of derivatives, syndicated loans, synthetic loans, securitisations, Inflation linked debt, credit default swaps and subordinated debt.
• Prepares specialised or tailored reports relating to new innovative instruments, gather information from a variety of sources, analyse and include in a report to new products approval committees.
• Compiles comprehensive specialist reports as required for inclusion into credit committee submissions.

f) Negotiation Skills

• Has an appreciation of cultural sensitivities and differences.
• Effectively employs a variety of advanced behavioural/interpersonal competencies to control the negotiation situation.
• Can take the lead in a variety of sensitive negotiation situations requiring high levels of tact and diplomacy.
• Can place a discrete negotiation situation within the context of a broader long-term relationship and is not threatened by conceding ground to protect the longer-term interests of the IF.

g) Project Management

• Defines, plans and manages large and/or strategic projects, including those with a high degree of technical complexity, with impacts across the organisation and/or with national implications.
• Identifies complex issues that need escalation and proposes appropriate corrective actions.

h) Planning & Organizing

• Demonstrates advanced planning and organising skills.
• Identifies and acts on opportunities to partner with other units in the department to achieve desired results.
• Develops integrated plans for the work unit and others that interfaces with the function’s budget.

i) Financial Acumen

• Makes sound financial decisions after having analysed their impacts on the organisation, partner agencies, and community.
• Effectively prepares budgetary submissions and forecasts for own department.
• Knows the internal and external factors that impact on resource and asset availability.
• Can interpret management account reports in an operational/commercial context and take action as appropriate to maximize revenues and control costs.

j) Reporting & Communication

• Designs / customizes reports to meet user needs.
• Prepares complex or tailored reports, gathers information from a variety of sources, analyses and includes in a report.
• Keeps standard reports under review and proposes improvements to meet user needs.
• Designs, reviews and improves reporting processes and provides guidance.
• Assists with the production of complex environment reports, takes an editorial role, determines content and level of detail, and ensures consistent messaging and branding.
• Is relied on by others to help them write complex technical and non-technical documents and briefs.
• Able to communicate complex problems or concepts, by making them simple and understandable for others.
• Adapts language to the level of the audience in order to ensure that the message has a positive impact and is interesting to the audience.
• Is articulate, demonstrates a wide range of vocabulary, and is confident when talking to large/high level audiences.

k) Presentation Skills

• Knows how to deliver arguments persuasively by employing a range of advanced presentation techniques (e.g. the appropriate use of body language, how to close a presentation so that the audience continues to think about the subject matter etc.).
• Has knowledge of various feedback mechanisms to check levels of audience understanding.

l) Written & Verbal Communication

• Understands that different writing styles are required for different documents or audiences.
• Write effective correspondence, prepares questions and reports, statements of circumstance and briefing notes.
• Reviews others’ documents for clarity and impact.
• Able to communicate complex problems or concepts, by making them simple and understandable for others.

m) Problem Solving

• While remaining guided by organisational values, identifies optimal solutions, thinking first in terms of possible approaches and flexibilities in the system vs. blind adherence to rules or procedures.
• Implements solutions to complex problems, then evaluates the effectiveness and efficiency of solutions and identifies needed changes.

Required Personal Attributes

BEHAVIOURAL COMPETENCIES

a) Customer Service Orientation

• Tries to understand the underlying needs of customers and matches these needs to available or customized products and services.
• Adapts processes and procedures to meet on-going customer needs.
• Utilises the feedback received by customers, in order to develop new and/or improve existing services/ products that relate to their on-going needs.
• Thinks of new ways to align the IF’s offerings with future customer needs.

b) Self-awareness and Self Control

• Withholds effects of strong emotions in difficult situations.
• Keeps functioning or responds constructively despite stress.
• May apply special techniques or plan ahead of time to manage emotions or stress.

c) Strategic and Innovative Thinking

• Experiments with new approaches, tests scenarios, questions assumptions and challenges conventional thinking.
• Creates new concepts that are not obvious to others, leveraging internal and external sources of information, to build incremental revenue and growth opportunities.

d) Driving delivery of results

• Sets challenging goals that will have a significant impact on the business or support the organisational strategy.
  Commits significant resources and/or time to ensure that challenging goals are achieved, while also taking action to mitigate risk.

e) Teamwork & Cooperation

• Acts to promote a friendly climate and good morale and resolves conflicts.
• Creates opportunities for cross-functional working.