JOB DESCRIPTION. New Zealand Export Credit Office (NZECO)

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1 JOB DESCRIPTION JOB TITLE: PORTFOLIO: REPORTS TO: LOCATION: Head of Business Origination New Zealand Export Credit Office (NZECO) Manager, NZECO Wellington NZECO PURPOSE: The purpose of NZECO is to help grow New Zealand exports by providing specialised financial guarantees and services that complement those available in the private sector and which assist New Zealand exporters and banks to: manage risk access trade finance, and secure international contracts. NZECO s output priorities for 2012/13 were: deliver NZECO s guarantees effectively and efficiently, which has led to an increase in exports appropriately manage risks, in accordance with export credit agency best practice be highly engaged to market conditions, and educate exporters (and their agencies) on how to appropriately manage their own risks (relating to trade finance flows). JOB SUMMARY: Reporting to the NZECO Manager, the Head of Business Origination is responsible for leading NZECO s Business Origination team which tasked with building market awareness of how NZECO s products can support exporters and their banks, in order to meet annual targets such as exporters / exports supported and revenue targets. The role includes developing strong stakeholder relationships at senior levels across exporters, banks, government and international agencies. The role also involves strategic input into NZECO s product and portfolio development. Attached to this job description is a schedule that outlines the specific responsibilities for the Head of Business Origination v1 COMMERCIAL-IN-CONFIDENCE 1

2 KEY ACCOUNTABILITIES Key Result Areas Leadership of Business Origination team Key accountabilities/expectations Develop and lead a highly engaged Business Origination team by contributing to the development and implementation of a marketing and client management strategy; setting clear and stretch objectives; monitoring and measuring progress and results; and providing regular feedback; Actively encourage professional and personal development for all team members; Manage workflow including appropriate planning, resource allocation and prioritisation; To be accountable for the quality of delivery and results achieved by the Business Origination team. Marketing, Business Origination & Stakeholder Management Manage the delivery of marketing and education seminars, with a focus on building market awareness of how NZECO s products can support exporters and their banks. Ongoing review and adaptation (as appropriate) of NZECO s core messages, marketing materials, case studies and website. Developing and maintaining strong and collaborative relationships with exporters, financiers and export-focused Government and industry agencies; Supporting the NZECO Manager in responding to any complaints or issues raised about NZECO s operations and/or external engagement; Ensuring that NZECO s Business Origination activities support the achievement of annual performance targets agreed with the NZECO Technical Advisory Committee, Treasury and Ministers. Assist the NZECO manager in developing NZECO s international alliances and information sharing (particularly amongst export credit agencies) v1 COMMERCIAL-IN-CONFIDENCE 2

3 Key Result Areas Product & Process Development Effective Business Origination; Deal structuring and Execution Key accountabilities/expectations Supporting the NZECO Manager in identifying opportunities, and assessing and developing new arrangements or processes which better support New Zealand exporters using NZECO s products and services; Supporting the NZECO Manager in identifying opportunities to develop new NZECO products, as well as providing technical and policy advice to Ministers and their Policy Advisors on other forms of export finance assistance and value-added products, as and when required. In the origination of deals, identifying workable solutions that NZECO (or other agencies) may provide to support the funding; risk mitigation and/or competitiveness of an export transaction(s); Applying commercial and financial acumen to pre-assess enquiries, and to clearly explain NZECO s credit processes and policies (including any relevant international rules); Being fully informed of developments within the field of export credits, trade credit insurance, trade finance, and the operations of an ECA; Collaboratively working with all NZECO staff to support (as required) the assessment, documentation and subsequent monitoring of policies; Monitor and support the Business Origination team s delivery of the above points v1 COMMERCIAL-IN-CONFIDENCE 3

4 Key Result Areas Planning and Reporting Key accountabilities/expectations Assisting the NZECO Manager by: Drafting an annual marketing and engagement plan (including recommending key performance targets) and strategically contributing to NZECO s broader Business Plan aimed at increasing new business and revenue while covering NZECO s costs / claims and maintaining a balanced portfolio of risk. Revising these strategies and targets throughout the year; as appropriate; Contributing to the annual budget plan; and monitoring spending by Business Origination team throughout the year; Managing up-to-date records of marketing deliverables (including meetings), and ensuring appropriate knowledge /data capture across the Business Origination team; Contributing to monthly reports to the Technical Advisory Committee, as well as other Ministerial, Treasury, intergovernment agency or international reports / briefings (as required). Staff Management / Building capacity & capability Assisting the NZECO Manager in building the NZECO team into an efficient, well motivated and productive unit. This will involve identifying capacity and capability requirements and providing advice to the NZECO Manager on: Business Origination staff performance agreements - ensuring that they appropriately reflect output priorities and clearly outline the expectations of individual staff members; Quarterly performance reviews / staff feedback (including managing poor performance or other staff issues); Developing team member s capabilities, including training; Recruitment of new staff members (if and as required). SCOPE OF ROLE: Key Dimensions of Resources Controlled: Revenue: Expenditure: Prudential Limit: Nil Nil Nil Direct reports: v1 COMMERCIAL-IN-CONFIDENCE 4

5 Key relationships: Internal Key Relationships Deputy Secretary, Financial Operations NZECO Technical Advisory Committee Treasury Policy Teams: International, and Financial Markets External Key Relationship New Zealand exporters NZ Banks (particularly Heads of Trade Finance, Structured Finance and Credit teams) and insurers / brokers; Australian and other international financial Institutions and insurers Export-focused government agencies (e.g. NZTE, MFAT, Education NZ, Callaghan Institute, MPI); Exporter Industry Organisations Export Credit Agencies QUALIFICATIONS/EXPERIENCE: The role demands a combination of interpersonal, analytical, strategic and decision making skills. The following specific skills relating to the position may include: extensive client-facing experience (at least 5 years experience in a similar position) preferably with experience in the field of trade finance or trade credit insurance; or a relevant international business background; proven experience in developing and implementing a marketing strategy, and (preferably) managing a team to meet targets, including new business and client retention targets; excellent interpersonal and communication skills, with the ability to gain understanding through listening, and to communicate technical concepts clearly and succinctly; proven ability to build and maintain relationships with a range of stakeholders at senior levels; deal execution skills someone who is able to quickly grasp the commercial aspects of the transaction, and identify workable solutions to support the funding and/or risk mitigation of exporters; strong credit, analytical and financial skills (including ability to interpret financial statements); proven ability to work collaboratively in a team environment, often under strict deadline pressures; demonstrated high levels of integrity, sound judgement and an honest and ethical approach; and ability to meet the criteria required to hold an appropriate security clearance v1 COMMERCIAL-IN-CONFIDENCE 5

6 Organisational Chart: Deputy Secretary Financial Operations NZECO Manager Specialist Personal Assistant Head of Business Origination Head of Underwriting Senior Business Originator Senior Underwriter Business Originator Senior Underwriter Business Analyst Underwriter v1 COMMERCIAL-IN-CONFIDENCE 6

7 Structure of parties according to the Delegation Agreement This diagram indicates the key parties that are outlined in the Delegation Agreement with the Minister of Finance, governing NZECO s operations. Minister of Finance and Minister for Trade and Economic Development Guarantees provided in accordance with Section 65ZD Public Finance Act; changes to NZECO mandate, requiring approval outlined in Section D of the Delegation Agreement. Treasury Board Oversight of Treasury s overall strategy and performance. Secretary to the Treasury* Deputy Chief Executive Delegation Letter Responsibilities outlined in Section C: Delegation Agreement Risk and Audit Committee Provides an assurance role re: Treasury s internal controls to manage risks Deputy Secretary Fin. Operations Brendon Doyle Technical Advisory Committee Appointed according to Section C (b). Terms of reference included in Section E Treasury Legal Confirms compliance with Delegation Agreement, in particular: External Legal Team Commercial services provided under contract to draft commercial aspects of the guarantees, and negotiate with Insured s Legal Advisor s, based on technical expertise. NZECO Manager Underwriting Assess risks according to mandate Origination Relationship management with insured, initial information flows Agent (EKN) Provides advice on International guidelines and ECA Market Practice. Underwriting/pricing recommendations for complex transactions Appointed according to Agency Agreement section C, separate contract. Insured Exporter or Bank The above diagram indicates the key parties that are outlined in the Delegation Agreement with the Minister of Finance, governing NZECO s operations v1 COMMERCIAL-IN-CONFIDENCE 7 *The Delegated Authority from the Secretary for the Treasury is the only one who can approve deals. The NZECO Technical Advisory Committee (TAC) and the Agent (EKN) are employed to provide the Secretary for the Treasury technical advice on transactions. Legal advisors are also employed to provide assurance of adherence to the Delegation Agreement.