Website IDC
Who we are Established in 1940, we are a national development finance institution set up to promote economic growth and industrial development. We are owned by the South African government under the supervision of the Economic Development Department. Our vision We aim to be the primary source of co… read moremmercially sustainable industrial development and innovation to benefit both South Africa and the rest of Africa. Our mission Our mandate is to contribute to the creation of balanced, sustainable economic growth in South Africa and on the rest of the continent. We promote entrepreneurship through the building of competitive industries and enterprises based on sound business principles. Our values Everything we do is directed by our values: Passion Partnership Professionalism Our mandate The Industrial Development Corporation of South Africa Limited (IDC) was established in 1940 by an Act of Parliament (Industrial Development Corporation Act, No. 22 of 1940) and is fully owned by the South African Government. The IDC was mandated to develop domestic industrial capacity, specifically in manufactured goods, to mitigate the disruption of trade between Europe and South Africa during the Second World War. We have contributed to the implementation of South Africa's industrial policy for more than 70 years and established, among others, the petro-chemicals and minerals beneficiation industries. We have stimulated large industrial projects in these industries – acknowledged today as the cornerstones of the country's manufacturing sector – and influenced the establishment of industries in fabricated metals, agriculture and clothing and textiles. During the 1990s, our mandate was expanded to include investment in the rest of Africa. The Mozal aluminium smelter in Mozambique was the first such venture. We secured investors from around the globe to establish a major industrial enterprise in a country plagued by decades of civil war. The smelter illustrated the viability of large projects on a continent often shunned by investors. Currently, our investments in Africa include mining, agriculture, manufacturing, tourism and telecommunications. The IDC's funding is generated through income from loan and equity investments and exits from mature investments, as well as borrowings from commercial banks, development finance institutions (DFIs) and other lenders. We align our priorities with government's policy direction and remain committed to developing the country's industrial capacity, as well as playing a major role in facilitating job creation through industrialisation. Our industrial development role As a key implementing agency of industrial policy, the IDC's activities currently centre on the National Development Plan (NDP), the New Growth Path (NGP) and the Industrial Policy Action Plan (IPAP). We identify sector development opportunities aligned with policy objectives and develop projects in partnership with stakeholders. By developing industrial capacity the IDC achieves specific outcomes. The most important of these is to enable job creation through the companies we fund. In addition, IDC funding continues to promote regional development and integration, economic empowerment of communities and growing black industrialists. The IDC remains committed to promoting environmentally sustainable growth and increasing sectoral diversity to boost the local production of goods. The corporation also plays a critical role, directly and through its sefa subsidiary, in promoting entrepreneurial development and growing the SME sector. While our funding activities focus mainly on the private sector, we work closely with different levels of government agencies and sector organisations to coordinate industry development. We also support government in other areas related to its development objectives, such as research and management of government funds allocated to achieving specific outcomes. We pro-actively develop and implement strategies in the rest of Africa to create and integrate value chains across the continent. Our aim is to use the strengths of different countries in the region to establish a more competitive industrial base. 19 Fredman Drive, Sandown PO Box 784055 Sandton, 2146
QUALIFICATIONS
CA / B Com post graduate qualification (or equivalent degree).
MBA would be an added advantage.
KNOWLEDGE AND EXPERIENCE
8 to 10 years’ relevant experience in a financial institution, 5 years of which must be specifically in Credit Risk.
Knowledge and understanding of credit risk and any associated risks prevalent in the financing of transactions/projects.
Ability to influence stakeholders and team members.
Experience working in a high-level collaborative environment.
Ability to manage multiple competing priorities while building effective relationships.
Extremely organized and persistent, with a drive and determination to achieve goals.
Require excellent computer skills and proficiency with Microsoft Office (Excel, Access, Word, PowerPoint).
Exceptional planning and organizational skills: the ability to handle several complex tasks simultaneously.
The ability to coordinate key projects with a variety of stakeholders is essential.
Proven communication skills are essential – must possess excellent written and verbal skills to be able to work effectively with others.
Ability to present and communicate technical information in a clear and concise manner.
Possess the ability to make deductions and meaning from complex and abstract situations and make sound decisions from these factors.
Must have the ability to work under pressure and cope with stress in a coordinated manner and be able to make rational decisions even under stressful/ high pressure situations.
Negotiation and interpersonal skills are essential to negotiate and influence people towards achieving a predetermined goal.
Roles and Responsibilities
Participate in Due Diligence investigations with the SBUs & Regional Offices, provide advice on risks to be assumed, mitigating factors and assessing viability of projects.
Preparing preliminary SWOT analysis and ensuring application of Credit policies and credit appetite framework utilizing approved standard templates.
Participation in Basic Assessment processes and presenting the Credit Risk Opinion and obtain CEM participation and indication of final credit structure requirements.
Assist in risk identification and mitigation, ensuring compliance to credit policy and spreading of financials (if not undertaken by business) and provide SBU with “indicative risk grade and pricing”.
In collaboration with the Legal Services Department seek for the adoption of a consistent approach in the drafting of standardized finance documentation across Group Counterparties as appropriate to ensure adoption of consistent credit terms.
Encourage adherence to the organization’s stated Risk Appetite levels to the front line and encourage conduct to be within such stipulated appetite levels.
Ensure credit submissions are undertaken in strict compliance with the official Credit and Investment submission templates of the Corporation.
As part of the integral team dealing with applications, ensure that SBU completed applications are reviewed and edited to ensure fit-for purpose assessment and appropriate risk lens on structure /tenor/products and shareholder contribution using approved IDC Credit Templates.
Provide input into the review and enhancement of the IDC Credit & Investment Template as required.
Facilitate constructive working relations and healthy working morale between the Credit Risk Department and relevant SBUs.
Provide appropriate guidance and support during deal development and structuring phases and act as a sounding board throughout the credit on-boarding process.
Identification and mitigation of project and/or counterparty risks– including the development of a project risk matrix in conjunction with the relevant SBUs.
Ensuring that the terms and conditions of credit committee approvals are well documented and executed in the legal agreements and draw documents.
Participate in the draw-down process and provide independent credit sign-off as required from time to time.
Attend and participate in client and/or deal structuring meetings prior to Deal Development Forum and provide advisory credit and structuring services on potential transactions after being cleared for any potential conflict of interest.
To co-ordinate and share information with Credit Evaluation Manager (“CEM”) in the processing of the new transaction and ensure an option is provided for CEM to attend client meetings if and as required.
Ensure timely submission of completed and comprehensive final report pack to CEM ahead of submission into the formal Credit and Investment sanctioning process.
Work with the deal team and Legal Services Department to ensure deal closure post Committee approval and support applications requiring waivers and/or changes of approved credit & investment terms, as and when necessary.
Ensure adherence to the principle of “need to know” by ensuring all information shared is aligned and limited to the credit origination process.
Perform credit checks and deed searches on prospective and existing clients.
Attending Credit Committees and Executive Policy meetings as and when required.
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Apply via company website ( http://www.idc.co.za ) or