PROGRAM/DEPARTMENT SUMMARY:
Mercy Corps is an international non-profit, non-governmental organization operating in the sectors of Sustainable Rural and Urban Development, Health and Nutrition, Emergency Response, Water and Sanitation, Economic and Market Development. Mercy Corps currently has programs in the regions of Somali, Oromiya, SNNPR, Dire Dawa and Addis Ababa and works through the principles of Accountability, Participation and Peaceful Change. Mercy Corps employs a community-led, market-driven approach as it works with partners at the community, government, private, and research institution levels.
Mercy Corps Ethiopia invites motivated and qualified candidates to apply for the following vacant position.
Position Title: Innovation Fund advisor
Duty Station: Addis Ababa
Open Position: 1
Mercy Corps is one of three partners in a five-year program led by SNV Netherlands Development Organization and funded by the Swedish International Development Organization (SIDA). Entitled Livelihoods Improvement for Women and Youth in Addis Ababa (LI-WAY), the program utilizes a making Markets work for the Poor (M4P) approach to contribute to sustainable poverty reduction and social stability in Addis Ababa. LI-WAY will work to mobilize, catalyze and enable market-based solutions to create jobs and increase income for women and youth. The consortium, led by SNV, additionally comprises Technoserve and Save the Children. The program aims to improve market functions, improve support-service effectiveness and improve the business environment.
Mercy Corps will lead all activities related to financial services and market information systems, and will manage the Challenge Fund. LI-WAY lasts for five years of which the first ten months will be an inception phase.
The innovation fund advisor will lead the innovation/challenge fund component of the Li-WAY project and ensuring that all investment related procedures, regulations, and best practices for the establishment of the fund mechanism and investment team is harmonized with in MC’s broader leadership in this program, other partners with in the overall approach and direction of the Li-WAY program; and strategy of Mercy Corps Ethiopia.
POSITION SUMMARY
The Innovation Fund Advisor will advise program team leader and the entire consortium team members on all investment related procedures, regulations, and best practices for utilization of the fund mechanism. Mercy Corps Ethiopia and partners will engage with private investors and other private sector actors to leverage innovative opportunities in key manufacturing growth sectors like garment/textile, leather, food &beverage, input suppliers for manufacturing companies, ICT as well as micro-enterprises development, financial services market systems through an Innovation Fund (IIF).
The Innovation fund advisor will work closely with the program team leader to design RFAs, evaluate proposals, undertake deep sector analysis and coordinate the project selection process across the consortium partners, conduct due diligence on selected investments and work with the relevant department in drafting agreements, monitor and follow up portfolio performance. The Innovation fund advisor will provide timely reports and assistance to the Program Team leader to ensure that financial resources are used efficiently and effectively.
The Innovation fund Advisor will also be a member of the MC Economic and Markets Development (EMD) Team, which uses market systems development to stimulate economic growth to create wealth and jobs for the poorest while maximizing investment from the private and public sectors. As a member of the EMD team, the Financial Services Advisor will contribute analytical thinking and innovative approaches and will support integration and harmony of approaches across all Mercy Corps Ethiopia market-driven programming. The EMD team is also expected to contribute up to 20% of its collective time towards new program development.
ESSENTIAL JOB FUNCTIONS:
The Innovation Fund Advisor is responsible for overseeing the management and implementation of the Innovation Fund across the selected market sectors for the entire Li-WAY project
Key job functions include the following:
· Assist the program team leader to provide overall direction and oversight to Innovation Fund planning implementation and overall programming.
· Understand the key elements of a successful investment, and develop tactical and strategic plans for the fund.
· Ensure that the innovation fund supports activities across the market systems and all thematic areas
· Ensure all components of the Innovation Fund work together to meet project goals.
Functions Specific to Inception Phase
· Conduct analysis of market system functions in Addis Ababa in growth/manufacturing sectors; garment/textile, leather, food &beverage, input suppliers for manufacturing companies, ICT as well as micro-enterprises development, financial services market systems through an Innovation Fund . Assess key challenges to inclusiveness, access to finance ,productivity and efficiency
· Develop/adopt innovation fund manual to be used as a guide line to implement
· Work closely with consortium staff members in undertaking research to identify areas in which there is a potential for investment and have the most potential for growth
· Propose strategies for improving market system performance, including making business strategies more inclusive and beneficial to enterprise productivity through innovation fund
· Support development of learning platform related to innovation and investment to be utilized throughout the life of program
Functions Specific to Implementation Phase
· Ensure all components of the Innovation fund are compliant with CSA and GoE regulations for International NGOs.
· Develop tracking systems to ensure all documentation is appropriately disseminated and managed.
· Responsible for all administrative issues related to the Innovation fund including monitoring, tracking financial and program reports.
· Work closely with consortium partner staff member to identify and capacitate Micro Enterprises that has potential to grow
· Lead the entire process of carrying out due diligence on companies
· Provide support to strengthening partner skills in financial management, program reporting and other administration process
· Review all progress reports, fact sheets and public materials before submitting to the project team leader for dissemination.
KNOWLEDGE AND EXPERIENCE:
· Demonstrated knowledge and experience in fund management and working in partnership with Private Sector actors.
· Good understanding of Making Markets work for the poor and Economic & Markets Development facilitation including coaching, relationship building, communicating, open and willing to work on new initiatives
· Masters’ degree or equivalent in Finance, Economics, or Business Administration, or Bachelors’ degree with significant additional experience. Other degrees will be considered with relevant work experience in Investment Management, Enterprise Development, or similar private sector work.
· Three years minimum of experience working with International /Local NGO, international companies, corporate business development, investment management, or investment banking/corporate mergers and acquisitions.
· Good understanding of investment process is essential
· Excellent communication, organizational and prioritization skills and the ability to multi-task and support and/or fill multiple positions at one time.
· Demonstrated attention to detail and ability to follow procedures, meet deadlines and work both independently and cooperatively with team members.
SUCCESS FACTORS:
· Fluent in English and Amharic
· Business minded, entrepreneurial, adaptive, curious, great problem solving skills, unafraid to ask questions, and results oriented.
· Excellent communication skills, facilitation and networking skills with a wide range of private, partner and NGO-sector actors
· Computer literate especially in Microsoft Office (Word, Excel, PowerPoint, Outlook)
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