Head of Investment, Proximity Finance
The Head of Investment role is a key leadership position responsible for external capital raising for Proximity Finance. The primary responsibility is to lead the Investment Team (six staff) to build and maintain Proximity Finance’s relationships with international investors, local financial institutions, and development aid donors. The primary outcome being to support the growth of the company’s portfolio of smallholder farm loans from $50M to $150M by 2024.
Proximity Finance is at a pivotal point in its evolution, following the recent onboarding of three new shareholders during 2020, and this position will play a key role of shaping the rural finance landscape of Myanmar for years to come.
The successful candidate will need to be a strategic thinker, with an entrepreneurial mind-set and a strong business/investment background, as well as being highly adaptable to change.
Tasks and Responsibilities:
- Investment origination - develop relationships with new local and international investors to create new partnerships and products. Securing an annual $40-50 million of new debt from impact driven investors and funders per annum.
- Investment assessment and diligence – working alongside four Investment Managers to develop and execute new borrowing from international and local lenders, including:
- Due diligence – coordinate, facilitate and collaborate to support the due diligence process for new investors.
- Deal execution – including managing term sheet and contract negotiations with lenders and investors. Knowledge of commercial legal language and terms of investment is key.
- Legal execution – ownership of the legal contract negotiation, execution and regulatory submission requirements with the Central Bank Myanmar and Financial Regulatory Department.
- Investment management – relationship, reporting and portfolio management of Proximity Finance’s existing lender portfolio (currently 12 lenders) alongside the Finance and Reporting Team. Ability to converse with lenders on a commercial basis to deal with contract negotiations, portfolio management. The role would also oversee existing investment facilities with international donors and partners (such as LIFT, USAID and IFC).
- Equity investment – support the CEO and senior team with future equity raise processes, including: investment analysis, valuation, forecasting and planning work.
- Grant management – coordinate the procurement ($500,000 per annum) and donor-facing communications for various grants currently operating and in the pipeline including scope development, contracting, reporting and audits. Manage the grant strategy together with the senior team.
- Financial analysis – using analytical skills to support the management of the loan portfolio, working closely with the CEO and Head of Finance to analyze trends and risks. Member of the liquidity management, assets and liabilities and senior leadership committees.
- Regulatory – ongoing engagement and adherence with the relevant regulatory bodies and compliance frameworks for the Myanmar microfinance sector.
- Board of Directors – represent the Investment Team at the BoD and senior leadership level.
- Investment strategy – lead the investment strategy of Proximity Finance and establish effective and well-organized investment processes.
- Support Reporting Team to submit timely and accurate reporting, on financial social and environmental metrics.
- A professional background in investment, finance, accounting or related field with seven or more years of relevant work experience.
- Master’s degree or equivalent professional qualification in relevant field.
- Strong people management skills.
- Advanced proficiency in Excel (modelling, forecasting and analytics) and Word.
- Excellent abilities of English/ Burmese technical writing and communications.
- Knowledge of investment, lending or microfinance (desirable).
- A passion for development of rural Myanmar (desirable).
- Understanding of impact investment and/or microfinance (desirable).
- Yangon based (remote working until further notice).
Interested candidates are invited to submit their CV and cover letter to [email protected]