Deputy Director - Chief Investment Officer (FIN), Washington DC

Work for the IMF. Work for the World.

Overview of the Finance (FIN) Department:

The Finance Department derives its role directly from the Fund's mandate in its Articles of Agreement. FIN has four key functions:

• FIN ensures that the Fund has the financial resources required to fulfill its mandate and advises management and the Board on financial policies and operations. Since the Fund was established, the main source for the IMF's lending activity comes from member countries' quota subscriptions, which have been held in the General Resources Account (GRA). In addition, trust funds such as the Poverty Reduction and Growth Trust (PRGT) and the Resilience and Sustainability Trust (RST) were created over time to provide financial assistance on concessional terms to the Fund's poorest members. It advises management on all aspects of the mobilization of financial resources—such as, during quota reviews, during peak demand for the Fund's credit to consider whether the Fund needs to borrow externally, and when additional concessional financial resources are needed. It also advises management and the Executive Board on the Fund's liquidity, income position, and investment strategy.

• FIN is responsible for ensuring that the Fund's financial resources are managed in a sound, prudent, and transparent manner. It is responsible for managing the financial operations, accounting and reporting for the Fund, and liaising with the Fund's external auditor and its external audit committee. It provides oversight of the risk and controls impacting financial operations and transactions and ensures effective financial systems are in place to support the core work. It develops policies on the financial aspects of access to Fund resources and the design of Fund facilities, designs and implements the Fund's investment strategies, and maintains the Fund's accounts in accordance with International Financial Reporting Standards.

• FIN safeguards the Fund's financial resources. It assesses the financial risks of the Fund, develops policies on the adequacy of precautionary balances, and implements risk mitigating measures. FIN participates in country work through the interdepartmental review process, focusing especially on the use of Fund resources, including capacity to repay analysis and policies and other safeguards necessary to contain financial exposures to the Fund. It conducts safeguards assessments of central banks of borrowing member countries to ensure that adequate control and reporting systems are in place and monitors the implementation of its recommendations.

• As comptroller of the Fund, FIN exercises control over the payment of the Fund's administrative expenditures to ensure their consistency with Fund policies. In essence, it ensures that the Fund's administrative and capital expenditures are accurate, within the budgetary envelope, properly authorized, controlled effectively, and processed efficiently

  Position

  FIN is recruiting a Deputy Director to help guide the implementation of the department’s extensive work program and operations, participate in the management of FIN’s 180+ staff, and oversee the management of about US$90 billion of assets across global diversified portfolios encompassing government bonds, corporate bonds, equities, real assets, etc.

  Role Description

  The selected candidate will be an integral member of FIN’s senior management team, providing leadership, strategic vision, and managerial oversight for the work and staff of the department. The selected candidate will serve as the Fund’s Chief Investment Officer with oversight responsibilities for all the Fund’s investment strategies and work programs. The candidate will also serve as the Secretary of the Fund’s investment oversight committee.

  Working under the overall direction of the investment committee, the selected candidate will provide intellectual leadership and guidance on the design and implementation of the investment strategies, and oversee the ongoing management and control of the investments. The selected candidate will be expected to help set the tone for the management of the department, striving to engender an inclusive, collaborative, and results-driven environment that motivates and empowers staff in all career streams. The selected candidate will represent the Fund in relevant outside fora and events, as appropriate for the Fund’s Chief Investment Officer.

  Qualifications

  The successful candidate should be a seasoned leader in the asset management field with a successful track record in overseeing large, diversified global portfolios. They should possess:

  • Demonstrated ability to provide strategic leadership and to advocate effectively in developing new investment proposals. Extensive experience in managing teams successfully to facilitate the implementation of new investment strategies.

  • Deep knowledge of financial theory and practice as applied across a wide range of asset classes, as well as a thorough understanding of issues of good governance and responsible investing.

  • Excellent leadership qualities and managerial skills, and an ability to communicate effectively to various audiences and build collaborative relationships across the Fund and with outside stakeholders.

  • Master’s degree, plus at least 15 years of progressively responsible professional experience in investment management, preferably including experience in the official or public sector.

  • Professional certification such as CFA or FRM or equivalent is desirable.

    Note: Applications from shortlisted candidate may be shared with SRI Executive who are assisting the IMF on the selection process for this vacancy.

    The position requires Senior Review Committee Approval.

    All applicants are expected to include a Statement of Interest as an attachment to the application, which may be used in the screening process for this vacancy.

    Department:FINAI IN Finance Department Immediate Office Investment Unit

    Hiring For: B04

    The IMF is guided by the principle that the employment, classification, promotion, and assignment of staff shall be made without discrimination against any person. We welcome requests for reasonable accommodations for disabilities during the selection process. Information on how to request accommodations will be provided during the application process.