Director of Shuraako, Somaliland

For more than a decade, One Earth Future has worked to prevent armed conflict and promote stability through creative and inclusive problem-solving. As an operating foundation, OEF leverages its core endowment and overseas development assistance to achieve the flexibility and scale needed to solve problems in places suffering from fragility and seemingly inescapable conflict. With headquarters in Colorado and offices around the world, OEF is positioning itself as a partner of choice for governments, implementers, and donors working to prevent conflict, promote sustainable development, and enhance local governance in the most difficult places on the planet.

Program Summary: Since 2018, One Earth Future has been managing the Nordic Horn of Africa Opportunities Fund (NHAOF), a $28 million sharia-compliant debt fund in the Somali Region, through its Shuraako program. The fund has been successful in generating jobs and growing businesses in one of the most fragile markets in the world and has achieved an exceptionally high repayment rate. At this stage in its development, Shuraako’s main strategic priorities are to grow the NHAOF, reduce operating costs as a fund manager, explore new asset management opportunities in the Horn of Africa, and maintain effective internal controls at scale.

Primary Role: The Somaliland Director of Shuraako will be responsible for ensuring that the Shuraako Somaliland team achieves the strategic priorities outlined above. S/he will have significant experience and connections in the Somaliland financial services industry, a proven track record managing a team, and a passion for financial inclusion that benefits Somaliland small and medium enterprises. The Somaliland Director of Shuraako will support the implementation of the OEF Strategic Plan, liaise with OEF Headquarters on operational and administrative matters, ensuring operational and administrative oversight of the Hargeisa Office, and model OEF’s values and universal principles in pursuit of our mission.

Reports to:
Executive Director & COO

Job Type:

Full-Time, Indefinite, Hourly

Location:

This position is located in OEF’s offices in Hargeisa, Somaliland. 

Primary Responsibilities include but are not limited to:

Team management

• Identify, lead, coach, develop and retain a high-performing team and dispersed team located throughout Somaliland.
• Promote a culture of safety, high performance, and continuous improvement that values learning and a commitment to quality and efficiency
• Honor and embody OEF’s mission, values, and code of conduct, and ensure that the Shuraako team does so as well

Business Development

• Collaborate with OEF’s Regional Representative for the Horn of Africa and relevant program managers to ensure alignment with OEF-provided technical assistance initiatives aimed at strengthening borrowers’ businesses and enabling companies to access additional financing.
• Promote the Shuraako program by building relationships with the business community, business associations, civil society, and government (e.g. “Chamber of Commerce”) within Somaliland.
• Contribute to OEF’s competencies in private sector development & inclusive access to finance in Somaliland.
• Participate in the LP due diligence process

Planning & budgeting

• Create annual and multi-year plans covering Shuraako’s strategy and operations as it pertains to the NHAOF and other potential future opportunities.
• Develop, manage and be accountable Shuraako’s annual budget.
• Ensure the continued financial viability of Shuraako through sound fiscal management.

Operational management

• Develop, monitor, and refine processes for identifying investee companies, conducting due diligence, structuring deals, and managing reporting requirements in line with our investment thesis, impact strategy, and risk–return objectives, with support from HQ leadership
• Partner with key internal stakeholders on the implementation of new ESG initiatives and other similar LP or regulatory requirements, including through educating staff and advocating new strategies to complement the existing offerings
• Monitor clients who have received funding, which entails reviewing progress report content and ensuring submissions are timely, ensuring client payments (to financier) are made in full and on time, building an ongoing relationship with clients, and other tasks as requested.
• Provide support – such as technical assistance and/or application review – to funds of which Shuraako is a participant.

• Monitor the progress of the murabahas in Somaliland and report any foreseeable issues.
• Partner with in-country leadership to tailor fund management processes to the local environment, including utilizing informal and traditional governance mechanisms
• Ensure compliance with Know Your Customer (KYC), Anti-Money Laundering (AML), and other regulatory requirements
• Liaise with One Earth Future Operations and Human Resources Team to ensure administrative, operational, and facility oversight of the Hargeisa office and employees.

This role requires a significant level of operational management, program implementation and support. Specific requirements include:

• At least 10 years’ experience in commercial banking, investment banking or financial services in Somaliland.
• Ability to work under difficult circumstances and in ambiguous situations; must be able to adapt quickly to constantly changing environments
• Prior experience in assessing and underwriting loan/Murabaha applications, with a demonstrated track record of success
• A keen understanding of risk and risk mitigation strategies for managing a FCS, frontier and emerging market investment portfolio
• Knowledge of international banking back-office procedures, Know Your Client (KYC), Anti-Money Laundering (AML) processes and procedures
• Strong organizational skills and ability to manage multiple tasks simultaneously;
• Strong verbal and writing skills with the ability to effectively convey messages to both investors and partners;
• Prior experience in efficiently and proactively managing team members
• Experience in MS Office Suite (including Word, Excel, and Teams);
• Deep understanding of people, culture, and common practices in Somaliland.
• Strong English and Somali language skills.
• Commitment to OEF’s vision, principles, and values (www.oneearthfuture.org)
• Ability to travel within Somaliland as necessary and internationally.

Preferred Qualifications:

• Experience with mission-driven impact investing
• Prior familiarity with ESG, CSR and impact measurement
• Experience underwriting multiple types of investment products

Physical Work Demands:

• Able to sit at a computer for extended periods of time.
• Able to bend at the waist and reach on a daily basis.
• Able to lift and move up to 25 lbs regularly.

At One Earth Future (OEF), we celebrate difference and welcome its benefits.  Therefore, we are proud to be an equal opportunity workplace.  We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.