Role purpose

The Caribbean Development Bank (CDB/the Bank) has an excellent opportunity for a dynamic professional to assume the role of Division Chief, Private Sector (DCPS) in the Projects Department. The successful candidate will be pivotal in advancing the Bank’s Private Sector strategy. This position is based at CDB’s headquarters in St. Michael, Barbados.

The Private Sector Division

The Private Sector Division (PSD) supports the development of the micro, small and medium-sized enterprises (MSMEs) sector and building a broader ecosystem for private sector development in client countries using Technical Assistance (TA), direct lending and public-private partnerships (PPPs). The focus of the Division includes:

• Providing a range of support mechanisms to MSMEs.
• Identifying new approaches to intermediary lending, through both Development Finance Institutions and other potential partners.
• Directing private sector lending through the Bank's Ordinary Capital Resources window and the leveraging of partnerships with other International Financial Institutions.
• Providing support for PPPs, including collaborative lending with partners.

The Role

The DCPS will provide strategic leadership and oversight in the design, implementation, and management of initiatives to foster private sector growth and investment across the Bank's member countries. This role involves the development of innovative strategies to leverage private capital, strengthen PPPs, and enhance the role of the private sector in sustainable economic growth.

The role requires significant collaboration and partnering with internal teams, external stakeholders, government agencies, and private sector partners to advance the Bank’s economic growth, poverty reduction, and sustainable development mission.

Key Responsibilities

The job will require the DCPS to:

• Formulate and implement a private sector strategy that aligns with the Bank's long-term development goals. Provide strategic guidance to ensure private sector activities effectively address market needs and contribute to the Bank’s mission.
• Identify and design the Division’s product offerings and initiatives, ensuring they address critical needs within the private sector, support economic growth, and drive impact in line with strategic priorities.
• Oversee the development, preparation, and appraisal of capital and TA projects, including PPPs. Manage the execution of a portfolio of MSMEs, capital, and TA projects, establishing measurable success metrics to ensure alignment with strategic goals.
• Lead a team of experts by promoting a culture of innovation and continuous improvement. Invest in team development through mentorship, sharing best practices, and implementing performance management to build internal capacity for private sector development.
• Provide technical advice to clients and Bank staff on issues related to the creation of an enabling environment for private sector development.
• Drive the establishment of new partnerships by evaluating potential sources of concessional funding, engaging key stakeholders, and implementing new partnership agreements. Build and maintain strong relationships with private sector entities, governments, and international organizations to support collaborative efforts.
• Identify and promote investment opportunities in priority sectors such as infrastructure, energy, agriculture, and technology. Work closely with partners to create investment-friendly environments within these critical sectors.
• Lead robust project evaluation processes to facilitate learning and adaptation in private sector initiatives. Implement initiatives to enhance the Bank’s client engagement and responsiveness.
• Ensure compliance with governance, risk, and regulatory standards, and participate in regular reviews to align with industry best practices.
• Continuously monitor emerging trends, risks, and opportunities impacting private sector development. Proactively adjust programs to respond to industry shifts, ensuring the Bank’s initiatives remain relevant and effective.
• Conduct or contribute to research on issues related to the establishment of an enabling environment for private sector development, for the Bank’s internal use of external publication, to contribute to the dissemination of knowledge and best practices
• Represent the Bank in coordination meetings, regional or international seminars, and conferences in areas relevant to the Division.

Qualifications and Competencies

The successful candidate must have superior client orientation, interpersonal skills, and a proven ability to work collaboratively with multi-disciplinary teams. They should be able to drive strategic initiatives, influence at senior levels within and outside of the Bank and demonstrate a bias for evidence-based decision-making.

The ideal candidate should have the following:

• A Master’s degree or equivalent in Finance, Economics, Accounting or Business.
• Significant experience working with private sector lending in an emerging market context, including intermediated lending operations, corporate banking, project finance transactions/public-private partnerships and guarantee products.
• A proven track record in structuring and executing private sector investment projects, especially in developing and emerging markets.
• Solid experience in strategy formulation and change management.
• In-depth knowledge of private sector development, as well as actions aimed at promoting the creation of an enabling environment for private sector development.
• Strong experience working within or with multilateral development institutions, governments, or private enterprises.
• Excellent technical skills and demonstrated track record of operational experience facilitating timely delivery on client requests for lending and TA operations or equivalent activities.
• Experience applying digital innovation to product design and improving the private sector ecosystem.

Function-Specific Competencies

• Exceptional understanding of development issues, policies and strategies gained from practice. Broad knowledge of the products, services, and processes of a multilateral development Bank.
• High analytical capacity and in-depth knowledge in macro-economics, micro-economics and business management.
• Sound knowledge of the structure of the private sector and financial services landscape in the Caribbean, including the role and activities of central banks, commercial banks, national development banks, credit unions, international financial institutions and new fintech companies.
• Sound knowledge of the activities and objectives of multilateral and bilateral development partners active in the region, with a particular focus on organisations providing support to the private sector.
• Demonstrated ability to lead multicultural and multidisciplinary teams.
• Experience in digital innovation and technology.

Behavioural Competencies

• Acting as a Champion for Change – Ability to identify problems and opportunities for change, and to implement solutions where appropriate; to maintain effectiveness when experiencing major changes in work tasks or the work environment; and support people in their efforts to try new things.
• Acting Decisively – Moves quickly to make decisions and commits to a clear course of action; comfortable making decisions based on partial information; willing to take risks to maintain momentum; shows a strong bias toward action.
• Championing Customer Needs – Calls attention to issues that impact client satisfaction; views situations from the clients’ perspective; encourages people to think about customers when making decisions and develops and sustains productive client relationships.
• Developing Talent – Invests time and resources into building the capabilities of team members; helps people define career goals and establish development plans to achieve them; gives people constructive, developmental feedback and advice.
• Driving for Results – Bottom-line oriented and pushes self and others to achieve results. Keeps current on project status; makes sure people are aware of project status and what they need to do to keep things moving; redirects project resources and activities to overcome setbacks; elevates project concerns to senior levels of leadership when appropriate.
• Managing Performance – Clearly defines and communicates roles and responsibilities; holds people accountable for accomplishing objectives; recognises and rewards people who achieve results and deliver on performance expectations; provides effective feedback on performance.
• Managing Risk – Effectively balances risks and opportunities; thinks through potential positive and negative outcomes; looks for ways to mitigate risks.
• Setting a Strategic Vision – Identifies and articulates the strategic goals and direction of the company, division, or group; establishes connections between short-term goals and long-term objectives and directions.  Communicates the vision throughout the organisation in the form of distinctive strategies, objectives and action plans that maximise competitive advantage. Inspires and motivates entire division(s) or department(s) to adopt the vision.

Terms of Appointment

This role is a full-time position with the successful candidate being contracted on a two-year basis in the first instance, with the possibility of renewal. The salary is competitive and commensurate with qualifications and experience. A pension plan, life and medical insurances are included in the benefits package.

Before you proceed to apply, please consider the following requirements:

• You must be a national of one of CDB’s member countries.
• You will be required to produce evidence of any educational and professional qualifications to support your application if you are selected for an interview.
• All appointments are subject to satisfactory background checks and references. All appointments are subject to satisfactory background checks and references.

CDB fully respects the need for confidentiality of information supplied and assures you that your background and interest will not be discussed with anyone including references, without your prior consent.

The Caribbean Development Bank is an equal opportunity employer and values diversity. We encourage all qualified candidates to apply regardless of their racial, ethnic, religious, cultural background, gender, sexual orientation, or disabilities. Women are strongly encouraged to apply.

The Bank provides reasonable accommodation to individuals with disabilities who participate in the job application or interview process. Please contact us to request such accommodation.

Role Location

St. Michael, Barbados.

How to Apply

To apply for this position, please ensure you complete the Application Form provided below by 03 January 2025 (23:59 hrs, GMT -4). It is essential that you submit your CV in English, specifically in Microsoft Word format (.doc/.docx).

Applications in other languages or formats will not be considered.

Rest assured, all information will be handled with the utmost confidentiality.

SRI Executive is exclusively retained by the Caribbean Development Bank to undertake this assignment.