Closing Date 2021/03/16
Reference Number DBS210301-2
Job Title Public Finance Management Specialist (IF) (Midrand)
Job Grade 18
Job Type Classification Contract
Location - Town / City Midrand
Location - Province Gauteng
Location - Country South Africa
JOB DESCRIPTION
The Infrastructure Fund (IF) announced by the President in September 2018 addresses the need for a dedicated blended financing facility for infrastructure programmes projects. The aim of the IF is to transform public infrastructure financial provisioning using “blended” finance - combining capital from the public and private sectors, and Development Finance Institutions, Multilateral Development Banks, Commercial Banks and Institutional Investors. This will be dedicated to meeting the financing requirements for hybrid projects. The DBSA’s mandate for the Infrastructure Fund has been captured in a Memorandum of Agreement (MOA) between National Treasury, Infrastructure South Africa (ISA), and the DBSA. The complexity of financial arrangements that are envisaged to be entered into for the IF projects / programmes, warrants that the Government is able to identify up-front what its liabilities are over the life of each project or programme. These could be explicit or implicit direct or indirect. The assessment, managing and reporting of fiscal implications and risks of the IF’s infrastructure projects / portfolio is required to secure the commitment and approval of the appropriate Government stakeholders (including but not limited to the National Treasury, State Owned entities, National Departments, Provinces and Municipalities), as required by the private sector investors, as well as to reduce uncertainty regarding project development.
Reporting and advising on how fiscal commitments should be recognised and formally recorded in financial statements are important when creating public assets, liabilities or expenses. This is because limits or targets are often set on the Government's liabilities by for example, ratings agencies. The Public Finance Management Specialist will be key in the execution of these critical goals and objectives of the Infrastructure Fund.
KEY RESPONSIBILITIES
STRATEGIC FOCUS
The duties and responsibilities of the Public Finance Management Specialist are to support the financing of IF funded infrastructure projects and programmes including:
1. Assessing, interpreting, advising, structuring and managing the fiscal implications for South Africa’s relevant infrastructure legislation, policies, procedures and regulations and procuring associated regulatory approvals.
2. formulation and implantation of a clear budgeting mechanism and framework and thereby improving the IF credibility.
3. Guiding and advising the IF, Project Owners and National Treasury with respect to the fiscal contribution framework and mechanisms through the full value chain: Project Origination, Structuring and Portfolio Management stages.
PROJECT ORIGINATION AND PIPELINE DEVELOPMENT
1. Understand the legal implications, regulatory framework and relevant Acts such as PMFA, MFMA, and any other law which may be relevant, in terms of the fiscal implications when national, provincial and local Government institutions enter into an IF project’s / programme proposed financing structure.
2. Engage with and provide advice to project owners on mechanisms and options to strengthen the fiscal segments of their submissions to enhance project bankability.
3. Provide high quality inputs on project preparation reports of projects submitted to the IF.
4. Coordinate strategic project and budget related discussions with national and provincial sector departments, municipalities and public entities to determine the status funding commitments for projects submitted to the IF.
5. Analyse strategic documents such as budgets, annual reports, corporate and annual performance plans and integrated development plans of national and provincial sector departments, municipalities and public entities to ensure funding commitments for projects submitted to the IF.
6. Advise project owners on national and municipal budget processes to submit compliant PFMA and MFMA project funding bids to the National Treasury in relation to the social component or government contribution including developing an annual and Medium-Term Expenditure Framework (MTEF) cycle budget requirements for the IF’s approved project portfolio.
7. Provide formal comments on fiscal reforms having a bearing on the operations of the IF, particularly on fiscal financing of infrastructure projects
8. Engage with project owners to influence the DoRA framework to promote co-financing of the social component’s capital requirements of infrastructure projects.
PROJECT PREPARATION AND STRUCTURING
1. Engage with project owners to resolve institutional, systematic and policy issues affecting the bankability and viability of projects to be funded through the IF particularly on budget and financing issues and participate in inter-governmental structures to oversee progress of IF’s funded projects.
2. Complete a Fiscal Risk Matrix (for liabilities) and a Fiscal Hedge Matrix (for the asset side) to catalogue the potential sources of fiscal risks to the Government, and factors that influence their size, prior to signing financing agreements. Prepare the Report to the Fiscal Liability Committee for the PMFA (or other act) to obtain the necessary concurrence by the Minister of Finance for the IF projects, including the formulation of the Monte Carlo scenarios (as to be presented in a report to the National Treasury) to determine the contingent liabilities associated with the implementation, operation and financing period.
PROJECT PORTFOLIO MANAGEMENT
1. Constantly engage with sectors and National Treasury to properly sequence the required cashflows to maintain the sustainability of approved projects.
2. Influence the budget process to ensure incorporation of the approved IF’s projects in the fiscal framework and sectoral budgets to ensure funding is appropriated and available to pay for whatever cost the Government has agreed to bear under approved IF projects.
3. Provide fiscal and financial inputs into the IF’s project database, reports and updates including, but not limited to, compiling submissions and reports NT for decision making purposes.
Key Measurements of Outputs
1. Number and value of programmes and projects being structured by the e IF
2. Value of fiscal contributions mobilized and committed through the IF
3. Number of IF programmes/projects approved and funded through the IF
4. Number and value of programmes and projects implemented through the IF
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EXPERTISE & TECHNICAL COMPETENCIES
1. A relevant Master’s Degree in business, finance, economics or business-related field.
2. At least 10 - 12 years’ work experience in government, fiscal, financial or related institutions.
3. Extensive understanding of national, provincial and local government budget processes, the PFMA, MFMA, Treasury Regulations.
4. Strong fiscal and budget management experience.
5. Demonstrable experience of engaging in intergovernmental forums and ability to foster string relations with stakeholders.
6. Ability to coordinate and manage multiple functions.
7. Demonstrable business acumen and strategic advisory experience.
8. Comprehensive knowledge of the complex regulatory environments of municipalities / metros, state-owned enterprises and other government entities in South Africa.
9. Strong proven sectoral research and analytics background preferably in Economics and Development Finance.
10. Experience in drafting reports, presentations, etc for Executives and Board Level.
11. Experience in communicating with high level stakeholders (verbal and written).
12. Demonstrable experience in managing projects as well as excellent skills in planning and organising.
13. Extensive and deep computer expertise in Word, Excel, PowerPoint, MS Projects, Outlook and research packages
REQUIRED PERSONAL ATTRIBUTES
TECHNICAL
Risk Identification & Assessment skills
1. Advises on applicable aspects of risk identification and assessment.
2. Assesses and links short-term tasks in the context of long-term business strategies or perspectives.
Business Development
1. Takes lead for pro-active business development at national and international level.
2. Initiates, reviews and interprets competitor environment reviews and take actions accordingly.
3. Formulates and modify market approaches based on competitor analyses.
4. Leads the formulation, development and implementation of the business development strategy to generate new business opportunities in public and private sector delivery of infrastructure.
5. Identifies and develop new markets, products and clients.
6. Leads the participation and presentation of an organisation at investment conferences and roundtable discussions.
7. Coordinates business activities to ensure that investment initiatives are in support of government BEE strategies, broader national and regional economic development strategies.
8. Promote compliance and alignment with the strategic imperatives of both individual clients and the organisation of investment and development interventions.
9. Builds capacity to coordinate, control and manage the activities and efforts required for the implementation of the plan.
10. Builds capacity to conduct project origination exercises.
Business Acumen
1. Deep understanding of commercial drivers and can take decisions based on an assessment of alternatives concerning complex business situations.
2. Deep understanding of economic priorities of South Africa and Africa and how they can be implemented to meet the organisation’s strategic objectives.
3. Deep understanding of the need to coordinate efforts with many government entities, private sector, community groups and individuals to ensure effective implementation of new policies and regulations.
4. Takes actions to fit business strategy.
5. Assesses and links short-term tasks in the context of long-term business strategies or perspectives.
6. Reviews own actions against the organisation's strategic plan; includes the big picture when considering possible opportunities or projects or thinks about long-term applications of current activities.
7. Anticipates possible responses to different initiatives.
8. Understands the projected direction of the industry and how changes might impact the organisation.
Deal Origination
1. Identify, conceptualize and structure projects and opportunities and develop new and alternative financing mechanisms.
2. Formulate and develop new and alternative financing mechanisms and concepts that can be replicated elsewhere within and outside SA.
3. Conceptualise and develop innovative funding instruments (equity, venture capital, mezzanine, debt, securitisation of projects, etc.) to finance infrastructure that would otherwise not be possible relying on the market only to develop and propose these investment opportunities.
4. Proactively develop impact concepts to take to the market.
5. Leads and mentors project teams.
6. Formulate new products.
Deal Structuring
1. Uses credit enhancement techniques to structure deals and optimise pricing in terms of Basel principles.
2. Has an in-depth and practical understanding of how to optimise the Capital Structure, collateral package, and debt repayment profile.
3. Interrogates financial models, including those with a high degree of complexity, to develop an optimal structure.
4. Identifies complex structural issues that need escalation and proposes appropriate bankable structures.
5. Demonstrates knowledge on advanced structuring including the use of derivatives, syndicated loans, synthetic loans, securitisations, Inflation linked debt, credit default swaps and subordinated debt.
6. Prepares specialised or tailored reports relating to new innovative instruments, gather information from a variety of sources, analyse and include in a report to new products approval committees.
7. Compiles comprehensive specialist reports as required for inclusion into credit committee submissions.
Negotiation Skills
1. Has an appreciation of cultural sensitivities and differences.
2. Effectively employs a variety of advanced behavioural/interpersonal competencies to control the negotiation situation.
3. Is able to take the lead in a variety of sensitive negotiation situations requiring high levels of tact and diplomacy.
4. Is able to place a discrete negotiation situation within the context of a broader long-term relationship and is not threatened by conceding ground to protect the longer-term interests of DBSA.
Project Management
1. Defines, plans and manages large and/or strategic projects, including those with a high degree of technical complexity, with impacts across the organisation and/or with national implications.
2. Assembles and leads diverse and multi-disciplinary teams, ensuring maximum effective resource utilisation.
3. Successfully manages substantial project budgets and reports directly to senior managers on the progress and results of projects.
4. Identifies complex issues that need escalation and proposes appropriate corrective actions.
Planning & Organizing
1. Coaches others on advanced planning and organising skills.
2. Plays a role in transferring advanced planning and organising skills and knowledge to others.
3. Identifies and acts on opportunities to partner with other units in the department to achieve desired results.
4. Develops partnership agreements that ensure win-win outcomes for all parties. Develops integrated plans for the work unit and others that interfaces with the function’s budget.
Financial Acumen
1. Makes sound financial decisions after having analysed their impacts on the organisation, partner agencies, and community.
2. Effectively prepares budgetary submissions and forecasts for own department.
3. Knows the internal and external factors that impact on resource and asset availability.
4. Is able to interpret management account reports in an operational/commercial context and take action as appropriate to maximize revenues and control costs.
Reporting & Communication
1. Designs, reviews and improves reporting processes and provides guidance.
2. Leads production of complex environment reports, takes an editorial role, determines content and level of detail, and ensures consistent messaging and branding.
3. Is relied on by others to help them write complex technical and non-technical documents and briefs.
4. Is able to determine which aspects of this knowledge area need to be transferred to others in order to achieve organisational goals.
5. Coaches others and transfers communication skills and knowledge to others.
6. Able to communicate complex problems or concepts, by making them simple and understandable for others.
7. Adapts language to the level of the audience in order to ensure that the message has a positive impact and is interesting to the audience.
8. Is articulate, demonstrates a wide range of vocabulary, and is confident when talking to large/high level audiences.
Presentation Skills
1. Knows how to deliver arguments persuasively by employing a range of advanced presentation techniques (e.g. the appropriate use of body language, how to close a presentation so that the audience continues to think about the subject matter etc.).
2. Has knowledge of various feedback mechanisms to check levels of audience understanding.
BEHAVIOURAL COMPETENCIES
Customer Service Orientation
1. Tries to understand the underlying needs of customers and matches these needs to available or customized products and services.
2. Adapts processes and procedures to meet on-going customer needs.
3. Utilises the feedback received by customers, in order to develop new and/or improve existing services/ products that relate to their on-going needs.
4. Thinks of new ways to align DBSA’s offerings with future customer needs.
Self-awareness and Self Control
1. Withholds effects of strong emotions in difficult situations.
2. Keeps functioning or responds constructively despite stress.
3. May apply special techniques or plan ahead of time to manage emotions or stress.
Strategic and Innovative Thinking
1. Experiments with new approaches, tests scenarios, questions assumptions and challenges conventional thinking.
2. Creates new concepts that are not obvious to others, leveraging internal and external sources of information, to build incremental revenue and growth opportunities.
Driving delivery of results
1. Sets challenging goals that will have a significant impact on the business or support the organisational strategy.
2. Commits significant resources and/or time to ensure that challenging goals are achieved, while also taking action to mitigate risk.
Teamwork & Cooperation
1. Acts to promote a friendly climate and good morale and resolves conflicts.
2. Creates opportunities for cross-functional working.
3. Encourages others to network outside of their own team/department and learn from their experience.
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