Chief Investment Officer at PricewaterhouseCooper (PwC)

PricewaterhouseCooper (PwC) - Our client, The Family Homes Funds Ltd is a limited liability company with the Federal Ministry of Finance and the Nigerian Sovereign Investment Authority as founding shareholders with a corporate office is located in F.C.T . Abuja.

We are recruiting to fill the position below:

Job Position: Chief Investment Officer_ FHF 001
Reference Number: 130-PEO00928
Job Location: Abuja
Department: People & Change Nigeria
Job type: Permanent

Corporate Governance

• Strategic direction and overall leadership is provided by the Board of Directors of whom a majority will be independent non executives.
• The appointment of the Board is expected to be completed by 30th September 2018. Day to day management of the Company is delegated to a 3 person senior leadership team headed by the Managing Director/Chief Executive Officer.

What We Do
Towards the achievement of its two core objectives, the Company will manage two funds:

• Homes Building Fund – Will provide debt and equity financing into eligible projects particularly those targeting people on low to medium incomes. The objective of the Homes Building Fund is to support development of new affordable housing through private and public sector partners. The financing opportunities are available in all states of the federation and the Federal Capital Territory. As at 30th June 2018, we have committed over N18bn towards the development of about 4000 homes. We expect to commit a further N100bn towards the development of 30,000 homes over the next 12 months.
• Homes Loans Assistance Fund - This fund will provide financing assistance to eligible home buyers. The facility is a key part of our strategy for improving affordability of home ownership towards people on low to medium income. By June 2019, we expect to have committed N25bn towards the programme.

In addition to the above we expect to roll out a Rental Housing Fund and a Land Development Fund over the next 18months.

Our work in these areas are underpinned by two key commitments:

• Partnerships - We can achieve much more collectively than any single player can individually. The Funds aims to build strong partnerships with a broad range of institutions and agencies to maximize every opportunity for enabling access to affordable housing for Nigerians, particularly those on low income.
• Innovation – We are committed to innovation across each area of our focus areas. This is an ongoing journey which will be shaped by the passion and commitment of our team to improve the quality of lives of the people we serve.

Roles & Responsibilities

• The Chief Investment Officer will be responsible for providing Strategic leadership in managing the Funds towards achieving the ambitious target of providing good quality and affordable homes to 500,000 families on low and medium income by 2023.

Specific Duties of the Position

• New business development; particularly investment opportunities in new affordable housing projects across the 36 states and the Federal Capital Territory of Nigeria;
• Develop strategic partnerships with large scale house builders/developers, financial institutions e.g. The Federal Ministry of Power, Works and Housing, State Governments and other industry players.
• Overall management of individual funds ensuring high quality origination and compliance with agreed risk acceptance policies geared towards long term sustainability.
• Ensure funds’ investments generate high social and environmental impact, particularly the creation of new jobs.
• Serve as the senior investment executive and expert in all aspects of Investment and Portfolio Management for the Fund, from ‘deal-flow to execution’
• Serve as a member of the Investment Committee and provide sound and fully supported recommendations and advice on the investment mandates as well as execute formulated investment strategy by sourcing and underwriting transactions
• Develop, evaluate and review deal-flow and project pipeline against investment strategy to ensure optimal and timely investment and performance
• Oversee financial, commercial, risk, tax and legal due diligences on the investments and recommend appropriate course of action
• Assess and present performance of the Fund’s investment and measure against appropriate benchmarks
• Monitor investments performance, including compliance and responsibility for any amendment or restructuring requirements
• Implement investment and risk management policies in line with the Funds’ mandate.
• Manage and develop team of investment management professionals.

Requirements

• Recent experience of managing a $100-$500 million portfolio strongly preferred
• 15+ years of senior level real estate investment management or similar expertise, including deal origination, appraisals and documentation
• Must be eligible for accreditation as a registered sponsored individual by the Security and Exchange Commission (SEC)
• Demonstrated business development skills, including building sustainable client relationships.
• Strong communications skills.
• CFA and/or MBA in Finance or similar qualification from a top-tier program
• Flexibility to meet changing needs and priorities.
• Significant experience with Boards, preferably with a Financial Institution or REPE Funds exposure.
• An interest in and desire to contribute to the objectives and vision of the Family Homes Funds to house 500,000 Nigerians on low/medium income by 2023.

Skills and Competencies:

• Creative marketing and Resilience
• Risk Monitoring and Control
• Strategy planning and implementation
• Leadership/ Team work
• Relationship Management
• Analytical Thinking
• Business development and continuity management
• Decisiveness
• Property law/ Property Valuation
• Business Continuity Planning and Management
• Verbal and Written Communication
• Budget preparation, interpretation, appropriation and monitoring
• Negotiation
• Attention to detail
• Project Management
• Underwriting