The WDC Investment Fund is a provider of risk capital (equity and loans) to SME’s and Social Enterprises in the Western Region of Ireland and operates on an Evergreen basis. Through the investment fund, the WDC seeks to achieve a financial return on investment commensurate with the risk taken and a socio-economic impact on the Western Region.
Subject to sanction, the WDC is now seeking to recruit an Investment Executive on a part-time basis, 40% – 50% of a full-time equivalent post for a 15-month term, with the possibility of an extension.
Purpose of the Post:
Reporting to the Investment Manager, the postholder’s key responsibility is evaluating applications for funding including the structuring and negotiation of deals ensuring that the dual objectives of both a financial return and a socio-economic impact are achieved, the disbursal and monitoring of investments and negotiating exits.
The person appointed to the Investment Executive role will join the Investment Team and will provide commercial, financial, investment and legal analysis while managing a portfolio of investments; ensuring WDC’s interests and rights are protected, including consent matters, repayment terms and reviews and divestments.
A core objective of the role is to support the delivery of maximum impact on portfolio companies’ development, financial outcome and socio-economic impact.
As a member of the Investment Team, the Investment Executive is required to:-
- Conduct appropriate commercial, financial and legal due diligence on applications to the WDC Investment Fund commensurate with their size and complexity.
- Influence the various parties in the investment deal and manage external services providers.
- Provide high-quality investment proposals to the Investment Committee and WDC Board and ensure compliance with State Aid guidelines. Present investment proposals to the WDC’s investment Committee.
- Manage the execution of decisions by WDC Board in respect of the approved investments ensuring all terms and conditions are met.
- Negotiate and structure deals on behalf of the WDC including company valuations.
- Manage the legal due diligence process ensuring WDC investment conditions and investor consents are implemented.
- Ensure the WDC rights, under the legal agreements, are maintained and manage any consent matters in relation to equity conversions, redemptions, trade sales, share sales, repayment rescheduling, etc.
- Monitor a portfolio of investment projects to ensure investments are being maintained.
- Identify appropriate exit mechanisms for all investments; represent WDC as shareholder and negotiate exits which will include but not confined to equity conversions, redemptions, trade sales, share sales, repayment rescheduling, etc.
- Represent the WDC as a shareholder at Board level of portfolio companies and assist in the commercialisation of these ventures;
- Prepare an annual report and financial analysis of portfolio companies and provide valuation recommendations to contribute to the Fund’s annual Portfolio Valuation.
- Maintain in a timely manner project information on the Investment Management Information System. Prepare regular reports on investments made and in progress as well as company performance against the business plan. Prepare various other reports as directed by the Investment Manager.
- Support the ongoing improvement of Fund’s systems and procedures including portfolio management, consent matters, repayment reviews with clients, accounting treatment, system changes, etc.
- Assist in the development and implementation of a marketing and promotion strategy for the Fund and in the generation of quality deal-flow.
- Conduct presentations as required to promote the fund amongst key stakeholders.
- Take special responsibility for the development of Fund policy and intelligence gathering for certain areas as assigned by the Investment Manager.
- Develop and experiment with new investment approaches/deal-flow creation.
- Provide advice and expertise on commercial financial support and investment matters with stakeholders and colleagues as necessary.
- Supporting colleagues within the team/organisation – coaching, sharing knowledge and expertise.
- Practice highest levels of Corporate Governance and accountability.
- Undertake additional tasks as may be assigned from time to time by the Investment Manager.
- Minimum 5 years’ experience in the commercial assessment and analysis of businesses from a financial, marketing and technical perspective, in particular for equity and lending products.
- Have proven, in-depth experience of:
- project appraisal
- company valuation
- financial due diligence and modelling
- negotiating deal terms
- funding SMEs
- Proven track record is essential in identifying critical, commercial issues in business/investment cases and effectively communicating, evaluating and resolving these issues prior to investment.
- Proven ability to prepare and present business/investment cases for complex projects.
- Excellent negotiation skills and demonstrable experience of engaging with relevant key stakeholders.
- Excellent communication skills, both oral and written are essential.
- Experience of reviewing and negotiating legal agreements.
- Excellent ICT skills including proficiency in use of computer applications, specifically Microsoft Office applications.
- A business, technical or scientific degree (Level 8) with an appropriate finance/accountancy postgraduate or professional qualification.
- Demonstrates HEO competencies (see below).
This post is a 15-month, fixed term, part time contract, subject to funding.
This part time position will cover 40% – 50% of a FTE (full time equivalent post). On appointment, the number of working hours per week will be agreed (circa 15-18.5 hours per week). There is flexibility on the days / times of work and this can be agreed between the successful incumbent and the manager.
The WDC Head Office is in Ballaghaderreen, Co. Roscommon. WDC staff are also located in Galway and Sligo. The successful candidate should reside within the WDC region (or within a reasonable distance thereof); will elect to be assigned to a WDC office located in Roscommon, Galway or Sligo and will be eligible to work in accordance with the remote working policy of the WDC. Due to current COVID-19 restrictions, the WDC is currently operating a remote working model in line with Government requirements.
Due to the large geographical area covered by this post, the successful candidate will hold a full driving licence and have access to transport as this post may involve travel. Appropriate travelling expenses and subsistence allowances will be paid subject to WDC policy.
The salary scale for this post will be equivalent to that of the Civil Service Higher Executive Officer Standard Scale.
Personal Pension Contribution (PPC) Pay Rate: The FTE salary for this position (with effect from 1st October 2020), which will be prorated based on weekly working hours, is as follows: €49,845 – €51,303 – €52,756 – €54,210 – €55,669 – €57,123 – €58,578 – LSI 1 €60,679 – LSI 2 €62,776
Please note: The starting salary for the person appointed to this post will be the first point on the above scale unless the successful application has previous reckonable public sector experience.
Appointment to this post will depend on a six-month probationary period and all staff appointments are subject to the WDC Act. All staff members are required to sign up to the WDC Code of Business Conduct under the code of Practice for the Governance of State Bodies.
Please submit a cover letter and CV (maximum three pages) detailing your experience, qualifications, and office location preference with any other relevant information, to firstname.lastname@example.org.
The email (with cv and cover letter) sent to email@example.com should be clearly identified with ‘Investment Executive, Part Time’ in the subject box.
Closing date for receipt of applications is Monday, 17th May at 10:00am.
Format of Competition:
The admission of a candidate to the competition, or invitation to attend an interview, is not to be taken as implying that the WDC is satisfied that such person fulfils the requirements of the job.
Following the shortlisting procedure, the competition will consist of competitive interview(s) conducted by the Interview Board(s) set up by the WDC. The onus is on all applicants to make themselves available for interview on the date(s) specified by the WDC. Candidates who do not attend interview on the date and time specified in email communications to the candidate will be deemed to have withdrawn from the competition.
The Interview Board will assess the merits of the candidates in respect of matters referred to in the job description and any other relevant, job specific criteria. Before making its final selection, the Board may recall a candidate for further questioning and request references. References will not be contacted without prior consent from the candidate.
Only candidates who reach such a standard as the Interview Board considers satisfactory in the competitive interview shall be considered for selection.
Panel: A panel may be formed by the Interview Board. Once a panel is formed, it remains in existence for 1 year and may be extended.
Confidentiality: Subject to the provisions of the Freedom of Information Act 2014, applications will be treated in strict confidence. All enquiries, applications and all aspects of the proceedings are treated as strictly confidential and are not disclosed to anyone, outside those directly involved in the that aspect of the process.
Communications: All communications with the candidates, including notification of results, will be via email.
Equality: The WDC is committed to a policy of equal opportunity. As a public service organisation, the WDC is strongly committed to equality of opportunity in all its employment practices.
Review / Appeals Process: WDC will consider requests for review in accordance with the provisions of the codes of practice published by the CPSA and in accordance with the Recruitment Policy of the WDC. In the first instance, candidates are open to have their query dealt with on an informal basis within five working days of the communicated decision (or if decision is related to an interim stage e.g. shortlisting, within two days). The informal process may involve a telephone conversation between the candidate and a representative of the WDC who is involved in the recruitment process.
Interviews will be held during the week commencing 24th May 2021.
The WDC is an equal opportunities employer
Canvassing will disqualify
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