The Special Operations Unit (SOU) forms part of the Infrastructure, Private Sector and Regional Integration Vice Presidency (OIVP) which is responsible for all private sector operations falling under the Bank’s private sector development strategy. The SOU provides specialized knowledge and services to resolve distressed and underperforming investments and assists with the identification and management of investments on the Bank’s watch list.
Accountability and Objectives:
The SOU’s main responsibility is assessing underperforming and problem investments and leading the workout, restructuring, turnaround or in some cases re-capitalization of these companies. The SOU is currently seeking consultants with expertise in active, hands-on distressed investment workout and NPL management including financial restructuring, refinancing or other recovery solutions for jeopardy as well as potentially distressed investments that preserve to the extent possible, the Bank’s development impact in Africa. SOU undertakes its work either independently or jointly with portfolio management units, with SOU often taking the lead on major and complex underperforming investments and restructurings. The SOU consultancy assignment will initially be for a 6 month period.
Duties and responsibilities
Under the supervision of the Head of SOU, the SOU consultant will:
1. Preparation of financial forecasts and perform cash flow analysis to determine the debt carrying capacity of borrowers and the return potential for equity investments, participate in due diligence of companies and determine, document and present options for approaching investment resolutions (e.g. trade sale, restructuring, refinancing, turnaround, workout, enforcement and insolvency processes, debt for equity swaps or any other rescue approaches);
2. Conduct business reviews to understand the issues facing companies and offering practical solutions; interact with accountants, legal, financial and sectoral consultants; interact with senior management of investee companies; liaise with other co-investors and DFIs and construct financial and valuation models with sensitivities as required;
3. Prepare action plans and different resolution options for each non-performing or impaired investee company to be presented to the internal Credit Risk Committee including recommendations to resolve problem investments whilst understanding the need to protect the over-arching developmental mandate of the Bank;
4. Monitor the financial and operational performance of impaired investments and effect execution and implementation of agreed workout strategies;
5. Prepare regular reports as required on all investment resolution activities;
6. Identify lessons learned to disseminate SOU’s workout experience to other investment departments within the Bank.