Nonprofit/Community/Social Services/International Cooperation
Role: Other
Date of last update: 2024-11-29 (Expiry date: 2024-12-12)
The European Bank for Reconstruction and Development (EBRD) was founded in 1991 when communism was crumbling in Europe and ex-Soviet countries needed support to nurture a new private sector and democracy. Today, we invest to help build market economies from central Europe to central Asia and the southern and eastern Mediterranean. We are now the largest single investor in our region. Owned by 69 countries and two intergovernmental institutions, we provide project financing for banks, industries, and businesses. We also work with publicly owned companies to support privatization, restructure state-owned firms, and improve municipal services. Wherever we are active, we promote policies that bolster the business climate.
The Associate Director (AD) will be accountable for the overall performance of EBRDs equity portfolio, investment, and exit activities in the Real Estate (RE) sector. He/she will help to formulate and implement EBRDs equity investment approach to the sector, liaising closely with the sector and country teams, and relevant support units. The role is comparable to Investment Director at private equity firms.
EBRD has an extensive track record of equity investment in the real estate sector. Over the years, we have invested both in commercial (offices, shopping malls, logistics, tourism) and residential real estate in more than 20 countries. We are able to hold our investments in the long term but aim to exit within 5-7 years in most cases. We also invest in capital markets IPOs/SPOs with a long-only strategy.
The AD will report to the two Directors who are jointly responsible for the Equity Team and will typically manage 3-4 team members on transactions and 2-3 equity team members outside of deals.
Accountabilities & Responsibilities
1. Business Development
o Lead marketing and business development efforts in equity in the RE sector to develop a broad deal flow for EBRD, liaising closely with country and sector colleagues.
o Assist with the critical screening of project proposal flow that is generated through business development efforts, liaising with other colleagues and teams within the Bank to identify sound and executable investments that meet the investment criteria and mandate of the Bank.
2. Structuring and Execution
o Lead and manage complex transactions and project teams.
o Lead structuring, negotiation (including review of legal documentation), and the execution of transactions, working with investee companies, fellow shareholders, authorities, consultants, and internal units.
o Manage the resources and the workload of the project teams under his/her supervision.
o Oversee the project due diligence process ensuring it meets the Banks standards.
o Ensure that all transactions within his/her responsibility are completed within the specified time frames to a high standard (including preparation of term sheets and all internal memoranda and Board reports) and in line with the policies, procedures, and objectives of the Bank.
3. Portfolio Management, Value Creation, and Reporting
o Take responsibility for the overall performance of the relevant equity portfolio in order to deliver attractive financial returns for EBRD over a medium-term holding period.
o Take responsibility for the performance and monitoring of all investments for which he/she is responsible, including relationships with investee companies and fellow shareholders and value creation efforts. Liaise with nominee directors and other shareholders, delivering high-quality monitoring reports; proposing regular valuations, working towards exit.
o Take responsibility for ensuring timely notification of any critical investment issues to the relevant Equity Director and/or other senior management, ensuring availability of adequate data and information for them to be able to take timely decisions.
4. Staff Management
o Assist in recruiting, training, coaching, and managing junior investment professionals, involving them in all aspects of the project cycle (business origination, appraisal, execution, implementation, monitoring, and exit), ensuring adequate quality of project work and appropriate workload distribution amongst the project team members; contribute to their professional and competency development.
o Develop productive relationships within the organisation to work effectively in a country/sector/investment product matrix structure and in a multi-cultural working environment.
Qualifications, Skills, Experience & Knowledge:
* Professional qualification such as ACA, CFA, ACCA, or CIMA desirable.
* Strong quantitative/numerical skills are critical with the ability to interpret financial information and to design and use financial models.
* Ability to interpret accounts, understanding local and international accounting principles and practice of credit analysis.
* Solid investment judgment.
* Coaching, mentoring & leadership skills.
* Relationship management and negotiation skills.
* Ability to work to deadlines and under time pressure.
* Excellent written and oral communication skills in English.
* Good command of another language used in EBRDs region is an advantage.
* Significant relevant equity investment experience (10+ years), preferably in a major real estate firm or fund.
* Practical experience of origination and participating in and leading complex equity transactions through the full project life cycle.
* Previous experience in the Banks countries of operations (Eastern Europe, SEMED, Central Asia) or of working and investing in other emerging and frontier markets is an advantage.
What is it like to work at the EBRD?
Our agile and innovative approach is what makes life at the EBRD a unique experience! You will be part of a pioneering and diverse international organisation, and use your talents to make a real difference to peoples lives and help shape the future of the regions we invest in.
The EBRD environment provides you with:
* Varied, stimulating and engaging work that gives you an opportunity to interact with a wide range of experts in the financial, political, public, and private sectors across the regions we invest in.
* A working culture that embraces inclusion and celebrates diversity.
* An environment that places sustainability, equality, and digital transformation at the heart of what we do.
Diversity is one of the Banks core values which are at the heart of everything it does. A diverse workforce with the right knowledge and skills enables connection with our clients, brings pioneering ideas, energy, and innovation. The EBRD staff is characterised by its rich diversity of nationalities, cultures, and opinions and we aim to sustain and build on this strength. As such, the EBRD seeks to ensure that everyone is treated with respect and given equal opportunities and works in an inclusive environment. The EBRD encourages all qualified candidates who are nationals of the EBRD member countries to apply regardless of their racial, ethnic, religious, and cultural background, gender, sexual orientation, or disabilities. As an inclusive employer, we promote flexible working and expect our employees to attend the office 50% of their working time.
Please note, that due to the high volume of applications received, we regret to inform you that we are unable to provide detailed feedback to candidates who have not been shortlisted (for further consideration).
Right to Work in the UK: Swiss nationals (and all other non-UK employees) can work in the UK without a Visa - working at the EBRD gives all employees "exempt status". The Bank, however, encourages all non-UK employees to obtain an Exempt Vignette (EV) prior to relocating to the UK, as without an EV you may face more questions at Border Control and when required to show evidence of their exempt status when renting accommodation under the Right to Rent legislation. The application process may take 3 – 4 weeks approx. outside of the UK.
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