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SME Investment Manager – Eastern Caribbean Enterprise Fund

11:17:00 AM

Reference: G/ECS/009
Location: St. Kitts, West Indies
Duration: 2 years
Closing Date: 1 Apr 2011

Purpose of the Project

To strengthen capacity of SMEs to access investment finance. The project aims to provide a source of equity and quasi-equity funding to SMEs through private placement. The ECEF will be comprised of three parts namely:-

  • Growth Fund (GF) where funding is expected to be in the order of at least
    EC$ 675,000 (US$250,000)
  • A Small and Medium sized Enterprise Fund (SMEF) where funding is expected to be less than the EC$675,000 (US$ $250,000) specified in the Growth Fund.
  • A Technical Assistance Fund (TAF) which will be utilised for providing advisory assistance to SMEs.

The current commitment in terms of initial capitalization for the ECEF is EC$10,000,000 (US$4,000,000) from the ECCB and financial institutions.

The Approach

This project proposes the placement of one Commonwealth Fund for Technical Cooperation (CFTC) expert at the ECCB Headquarters for a period of two years, to provide the services of an Investment Manager and assist with building the capacity of assigned ECEF staff, to effectively develop their investment and fund management skills over time.

The project will benefit from the sustained intervention by an experienced Investment Manager with a demonstrable record in fund management who can provide capacity building for the establishment of ECEF as well as hold the substantive position of the initial fund manager. Additionally, the expert would assist with the identification of best practices with respect to the planning and development of the ECEF so that the requisite management and operation systems be put in place to ensure sustainability of the Fund. Staffing of the Fund will initially be addressed through personnel recruited by the ECCB to perform the administrative functions.

Scope of Work

The outputs expected to be delivered are:

  • Leadership: Complete the development and establishment of the ECEF. This will include the coordination of all related management functions, inter alia: (a) Finalise the Strategic and Operational Plan, (b) Completion of Budgets, (c) Organisational Structure,
    (d) Marketing Plan, (e) Investment Analysis and Monitoring Systems; and (f) Establish a Business Development Services function to provide business counseling and advisory services to SMEs to improve investment readiness and operational effectiveness.
  • Mentoring: Assist with the identification and mentoring of core personnel to undertake established functions within the ECEF. It is the expectation that the staff identified by the ECCB will be trained in the management functions of the ECEF. As part of the sustainability of the project, compile a standard operating procedures manual for the ECEF.
  • Fund Management: Seek and secure additional funding for the investment and operations of the ECEF. Additionally, identify lead and champion investment activities and opportunities, and assess and evaluate potential credible projects up to financial closing.
  • Promotion and Marketing: Take the lead role in awareness campaigns, workshops and related promotional materials across the OECS to familiarise business persons and prospective applicants with the expectations of the ECEF criteria.

Reporting and Transfer of Expertise

The Commonwealth Secretariat attaches particular importance to the transfer of expertise and knowledge to the assigned counterparts within host institutions. The assigned expert will work closely with the appointed staff by the ECCB. The expert will report directly to the Governor of the ECCB, the board of the ECEF and the Commonwealth Fund for Technical Cooperation.

Required Experience and Qualification

Essential:

i. A graduate degree in Business, Economics or Finance;

ii. Significant experience in Investment Funds and Portfolio Management;

iii. Experience in business development and /or raising capital;

iv. Strong interest in developing the venture capital and private equity sector;

v. Ability to interact and negotiate at senior management level;

vi. Strong marketing, presentational and public speaking skills;

vii. Strong leadership and project management skills;

viii.Ability to manage a diverse team of staff and partner relationships;

ix. Integrity, autonomy, self-confidence and energy;

x. Innovative and entrepreneurial approach;

xi. Experience in development of human capacity by way of training, mentoring, etc;

i. Respect for diversity and ability to adapt to different cultural settings;

For information regarding this assignment, or to submit an application (CV & Personal History Form), please contact:

Miss Ishbel Allotey
HR (CFTC)
Commonwealth Secretariat
Pall Mall
London, SW1Y 5HX
UK

Email:i.allotey@commonwealth.int

A Personal History Form (PHF) may be downloaded from the Secretariat Website on the Employment / Vacancies / Long term Assignment (Overseas) page, along with the Skill Codes booklet required to complete the PHF. The PHF is only available in PDF format.

The CV and the PHF may be forwarded to the contact officer as an attachment to an email / by post / faxed for:

Attention of Miss Ishbel Allotey to: Fax: + 44 20 7747 6520

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