African Development Bank Group (AfDB) – Established in 1964, the African Development Bank is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries). The Bank’s development agenda is delivering the financial and technical support for transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth.
We are recruiting to fill the position of:
Job Title: Principal Treasury Officer, FITR
Reference: ADB / 21 / 013 / 2
Location: Abidjan, Cote d’Ivoire
Position N°: 50093714
- The Vice Presidency for Finance oversees the financial management of the Bank Group. This encompasses the Bank Group’s treasury activities including borrowings from the capital markets and investment activities; controllership functions including financial reporting and loan administration; strategic resource mobilization and the strengthening of the non-statutory financial resources and instruments; the overall asset / liability management for the Bank Group.
The Hiring Department / Division:
- The Treasury department is responsible for raising funds from capital markets, managing and investing the Bank Group’s liquidity and shareholders’ funds, processing and settling all financial transactions and managing the institution’s banking relationships.
- The role of the Capital Markets and Financial Operations Division is to: (1) Raise cost effective resources from the capital markets; (2) Contribute to the Capital Increases process and administer the subscriptions of shareholders to the capital of the African Development Bank; and (3) Contribute to the African Development Fund replenishment negotiations and administer the subscriptions of donors to the African Development Fund and Multilateral Debt Relief Initiative.
- Under the supervision of the Division Manager, Capital Markets & Subscriptions, the Principal Treasury Officer contributes to the strategy and implementation and execution of the African Development Bank’s annual borrowing program, the management of subscriptions to the capital of the Bank, the African Development Fund and the Multilateral Debt Relief Initiative, technical discussions related to the Bank’s capital increases, replenishments of African Development Fund, rating reviews and financial policies.
Duties and Responsibilities
The Principal Treasury Officer will carry out the following functions:
- Implementation of the borrowing program and management of liabilities:
- Identify and develop strategies for relevant products or markets
- Supervise or Participate in all stages of the borrowing process
- Prepare or contribute to the annual borrowing program
- Monitor bond markets through various information sources including Bloomberg
- Manage relationships with banks and maintain constant flow of discussions on bond market developments and a proactive and comprehensive coverage across markets and instruments
- Participate and/or design issuance strategy in various markets
- Draft, negotiate and finalize the technical documents required to launch new bond issues
- Source, analyze, price, negotiate and execute borrowing, derivatives, buyback trades and other liability management transactions
- Participate in the investors relations program to deepen and widen the Bank’s investor base, updating them on the Bank’s credit story
- Update or Contribute to the update of the Bank’s borrowing documentation including the GDIF and GIS
- Administer resources and subscriptions of the African Development Bank, African Development Fund and Multilateral Debt Relief Initiative:
- Provide advice to the Manager on issues related to the administration of subscriptions
- Draft and prepare technical papers
- Review and control documents related to the implementation of the African Development Bank, African Development Fund resolutions and Multilateral Debt Relief Initiative
- Advise shareholders and internal parties on key issues related to their subscriptions
- Implement the relevant resolutions of capital increases, African Development Fund replenishments and Multilateral Debt Relief Initiative
- Work on the improvement / establishment of automated systems for the management of subscriptions and contributions
- Administrative management of subscriptions, contributions, payments and encashment
- Prepare the voting powers
- Prepare financial notes, briefs and status reports
- Participate in the Bank’s credit rating review process
- Contribute to the annual rating review process with Credit Rating Agencies
- Participate in the review of the Bank’s financial policies:
- Provide advice to the Manager on issues pertaining to financial policies
- Participate in the review the Bank’s financial policies
- Participate in the restructuring of the Bank’s balance sheet, discussions on the introduction of new lending instruments and the allocation of debt to pools of assets
- Prepare the Bank’s Financial Presentation booklet
- Prepare the administrative hedge of the Bank’s capital
- Perform other duties assigned by the Division Manager.
- Hold at least a Master’s degree in Finance, Business Administration, Economics, Statistics or a related quantitative discipline.
- Professional certification such as Chartered Financial Analyst (CFA) or ICMA is an advantage
- Have a minimum of six (6) years of professional experience in the international Capital Markets, with a special emphasis on bond issuance. Practical experience of managing global bonds and /or public bonds issuance process and using derivatives for hedging purposes.
- Solid knowledge and experience of capital markets, including structured products, derivatives, market rules and regulations, financial markets skills, and risk management concepts.
- Ability to write clear, convincing and well-structured business documents and reports in English and/or French
- Ability to work effectively with individuals of different views, culture, nationality, gender and age
- Ability to cope with multiple demands and competing priorities
- Ability to bring together people with complementary skills to ensure project’s success
- Ability to take ownership for projects and ensuring that output is of the highest quality and delivered in a timely manner
- Command of standard computer software applications such as Word, Excel, PowerPoint
- Knowledge of Bloomberg, Summit/Numerix would be an advantage
- Ability to communicate effectively (written and oral) in English or French preferably with a working knowledge of the other language.
Interested and qualified candidates should:Click here to apply
Job Title: Senior Investment Officer, PIFD1
Reference: ADB / 21 / 043
Location: Abidjan, Cote d’Ivoire
Position N°: 50078328
- The Vice Presidency for Private Sector, Infrastructure and Industrialization is central to the Bank’s mission of developing the private sector, improving infrastructure and accelerating industrialization.
- The complex main functions are to (i) strengthen the enabling environment for private sector [and financial sector] development conducive to inclusive growth and sustainable development, (ii) support the development of reliable and sustainable infrastructure, including cities and urban development, and (iii) place renewed emphasis on industrial and trade performance in support of structural transformation across Africa.
- The Complex leverages knowledge, co-financing, and partnerships to attract private capital and work with governments on delivering the Bank’s development agenda.
The Hiring Department:
- The primary role of the Financial Sector Development (FSD) Department is to help the Regional Member Countries (RMCs) increase the reach, depth, and breadth of their financial systems, while safeguarding financial stability. The Department has four long-term objectives: (i) development of a vibrant private sector through an inclusive access by households and enterprises to financial services; (ii) strengthening markets participants; (iii) developing efficient capital markets, and (iv) deepening regional financial integration.
- Paired with other Industrialization, infrastructure and Private Sector complex departments, the FSD Department is responsible for implementing the Bank Group’s Financial Sector Development Policy and Strategy 2014-2019 (FSDPS) towards vibrant, innovative, robust and competitive financial systems, both national and regional, and in both the public and private sector levels of RMCs. FSD plays a transversal role across the Bank’s five strategic priorities, applying its financial deepening and access tool kit to the High Five (H5) agenda. Fundamentally, the scalability and policy momentum inherent in the H5 agenda create an important opportunity for expanded relevance of the FSD core skill-set: flexible financing instruments and delivery frameworks for financial inclusion, smart resource mobilization and capital markets development. FSD leverages partnerships to bring about greater developmental impact in financial sector development.
- The Financial Inclusion and Intermediation Division focuses on promoting innovative financial and non-financial products and services that are responsive to the needs of Bank’s clients in a bit to boost and increase access to finance and financial services by private enterprises including African SMEs, as well as other underserved sectors and populations. The Division’s work thus focuses on financial intermediation and related operations to enhance of FIs capacity to support Bank priority areas including infrastructure, agribusiness, women businesses, SMEs, etc in line with the Bank’s Ten Year Strategy and the High Five Priorities of the AfDB (Light up and power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the quality of life for the people of Africa) in order to accelerate Africa’s economic transformation and ii) Financial inclusion activities that facilitate access to finance and financial services by all sectors of the African populations. The division also hosts and implement various broader Bank High 5 initiatives, such as Boost Africa.
- As part of the Financial Inclusion and Intermediation Division and in line with the Financial Sector Strategy and the Bank priorities, the Senior Financial Sector Investment Officers (IOs) are critical members of multidisciplinary teams of highly qualified professionals comprising lawyers, environmental and social specialists, economists, credit risk officers. They have expertise in the financial sector as well as other priority sectors in which the Bank does Business. The IOs work directly with their clients, regulators and other relevant external stakeholders. The IO will work with other experts in the financial sector department as well as other departments in order to enhance FIs support to priority sectors and market segments.
- The jobholder will identify business opportunities, coordinate the processing and closure of approved of transactions in order to maximize the impact of the Bank’s operations through execution of innovative, developmental, and profitable investments for AfDB.
- The IO will contribute to the promotion of inclusive finance policies and support country and regional programs and projects, to facilitate affordable access to financial services for Micro-Small and Medium Size enterprise and the unbanked and underserved populations, leveraging innovative and technology-led solutions to achieve the ultimate goals of near universal access in Regional Member Countries (RMCs). The position will be located in the head office of the Bank and it involves frequent travel.
- The overall purpose of this job will be to originate, develop and lead the due diligence approval and financial closure of Financial intermediation projects as well as provide technical support and inputs to diverse areas of financial inclusion.
- The incumbent will work within broad policies and objectives with limited supervision for critical tasks. Ensure the implementation of donor governance aspects of Boost Africa including the organisation of and implementation of such donor meetings and reports on the meetings.
Duties and Responsibilities
Under the supervision of the Division Manager, the Senior Investment Officer will perform the following duties:
- Develop a strong pipeline of good quality SME finance opportunities, Venture capital and Social impact private equity funds through anticipating market trends and employing sector/regional knowledge.
- Develop strategies for Financial inclusion Banking including business models, market analysis; segmentation; and product design
- Build and maintain strong relationships with other departments, clients, banking and multilateral partners and government officials to develop specific investment opportunities;
- Identify, undertake, coordinate and manage the necessary due diligence of banking, Private Equity, Venture Capital/impact fund and other financial intermediation projects applying debt, equity, guarantees and related Bank products.
- Undertake financial analysis, financial modelling and risk analysis on projects and apply the broader Bank appraisal tools such as Environment Social and Governance (ESG), Asset and Management Liability (AML), development outcomes and additionality.
- Prepare project appraisal reports for presentation to the department, review committees, senior management and finally to the Board of Directors.
- Liaise and coordinate with other Investment and Inclusion Officers and Bank staff in the origination of a good quality investment pipeline for the Bank’s financial sector assistance.
- Prepare and process through to approval, disbursement and implementation, technical assistance proposals aimed at building capacity of financial institutions or other market players involved in enhancing the market supply and demand for credit
- Coordinate with sector colleagues, the internal approvals to proactively find pragmatic solutions to emerging/specific sector challenges.
- Work with legal department to ensure that all deals have appropriate legal documentation and that financial close is achieved, and hand over projects to portfolio management staff.
- Design specific innovative transactions, projects and initiatives
- Undertakes the work on aspects of access and financial inclusion and aligns them with institutional objectives and support the Bank’s access and financial inclusion products;
- Initiates the efforts to mainstream financial access and inclusion aspects, with the High 5 priorities of the Bank, at the strategic and operational level;
- Contributes to the policy dialogue on financial sector issues in RMCs, at both policy and technical level; as well as to institutional, regulatory, policy or market assessments.
- Contributes to projects supporting funds or incubators that focus on increased financial access; and developing financial infrastructure, financing payment systems and instruments, in particular for mobile financial services, including payments by the government.
- Works with regional teams/country offices to design and implement financial sector development support programs;
- Evaluate, structure, negotiate, and close new transactions, with a strong focus on credit and asset quality (include processing mandates, due diligence, negotiating term sheets and other documentation, syndications and board approval);
- Provide support to regional industry and portfolio teams in processing and supervising regionally managed projects.
- A minimum of a Master’s in Accounting, Finance or Financial Economics or any other quantitative degree;
- A minimum of five (5) years of relevant professional experience in private and finance sector, including hands-on experience in analysing credit risks, structuring loan and other debt products as well as equity transactions, associated legal documentation, negotiations, and closing transactions in banking and non-banking financial institutions;
- Experience in the structuring of financial system development projects or related field
- Experience in DFI as well as private sector experience with supporting SMEs
- Experience working in developing/emerging market economies, especially Africa
- Experience working in development finance and in entrepreneurship / SME capacity building will be a strong advantage
- Good knowledge of and experience of RMCs or developing economies as well as a thorough understanding of banking, financial institutions, financial and capital markets and related industry knowledge
- Demonstrated ability to undertake comprehensive due diligence including financial analysis of financial institutions, such as banks, non-bank financial institutions and private equity funds;
- Strong financial and credit skills as well as demonstrated ability to evaluate, structure, negotiate, and close transactions using a variety of financial instruments (debt, equity and grants)
- Demonstrated ability to work with clients in the financial and real sector and in the SME support environment, understanding their unique needs and develop targeted solutions.
- Ability to contribute to sound decisions and contribute to the execution of the decisions
- Ability to initiate, effectively and independently interact with the senior management of potential clients as well as financial and technical partners in order to build networks across the region to generate new business, partnerships and collaborative opportunities
- Strong commitment to search for and produce innovative and creative approaches to activities in order to enhance performance and create added benefits to the Bank and its clients.
- Clear and concise oral and written communication skills; presents oral information with clarity and appropriate style and adapts language and style to suit the requirements of a particular audience.
- Excellent problem-solving capabilities, applies business knowledge to the resolution of problems and identifies solutions to the benefit of the client (internal and external) and the organization.
- Excellent organizational, administrative, and time management skills
- Proven ability to work with limited supervision and efficiently to deliver under pressure and meet tight deadlines;
- Willingness to travel extensively and geographic flexibility.
- Excellent presentation skills
- Excellent written and verbal communication skills in English and/or French, with a working knowledge of the other language.
- Proficiency in the use of common Microsoft Office Suite applications (Word, Excel and PowerPoint etc.).
Interested and qualified candidates should:Click here to apply
Application Deadline 2nd April, 2021.
Job Title: Principal Quantitative Risk Officer, PGRF3
Reference: ADB / 19 / 243 / 2
Location: Abidjan, Cote d’Ivoire
Position N°: 50000848
- The President, plans, supervises and manages the business of the Bank Group. Under the direction of the Boards of Directors, the President conducts the business of the Bank and the African Development Fund and manages operations and activities in accordance with the Agreements establishing the ADB and the ADF.
- The President supervises several Departments and Units including Office of the President (PRST0); Independent Development Evaluation Department (BDEV); Integrity and Anti-Corruption Department (PIAC); Compliance Review and Mediation Unit (BCRM); Secretariat to the Sanctions Appeals Board (BSAB); Administrative Tribunal (BATR); Office of the Auditor General (PAGL); Group Risk Management Directorate (PGRF); General Counsel and Legal Services Department (PGCL); Communication and External Relations Department (PCER); Staff Integrity and Ethics Office (PETH) and Office of the Secretary General & General Secretariat(PSEG).
The Hiring Department:
- The Risk Management Department (PGRF) develops policies and guidelines, methodologies and systems relating to credit risk assessment, market risk and operational risk, and as well as ensures internal consistency of all of the Bank’s risk management policies and guidelines, including those initiated and developed by other departments.
- The department main mandate is to safeguard the Bank’s financial integrity, consolidate all core-risk management activities of the Bank in order to exercise comprehensive oversight over the Bank’s risk exposure. In delivering its mission, PGRF focuses largely on promoting the Bank Group’s strategic goals within a defined risk tolerance framework.
- The overall purpose of Principal Quantitative Risk Officer is to identify and monitor credit risks, review and ensure the integrity of quantitative risk models, determine the Bank’s economic and capital adequacy, and the reasonableness of their assumptions.
- The selected candidate should ensure compliance with the Bank’s risk management guidelines, capital adequacy policy, International Financial Reporting Standards 9 requirements, and formulate, review and update credit risk as well as capital adequacy policies, guidelines and procedures.
Duties and Responsibilities
Under the supervision of the Division Manager, the responsibilities of the Principal Quantitative Risk Officer are:
- Lead the development, enhancement and maintenance of the quantitative risk analytics and models for credit risks (PD, LGD and EAD models), Economic Capital and Stress Testing..
- Responsible for the identification, measurement, analysis, monitoring and mitigation of the credit and counterparty risks borne by the Bank’s lending activities.
- Provide analytical advice on the structuring, pricing and exposure measurement for the Bank’s lending portfolio.
- Conduct the implementation, validation and backtesting of quantitative risk models.
- Review, report and ensure compliance of the Bank with its capital adequacy framework, Basel Standards, and accounting standards such as International Financial Reporting Standards 9.
- Assess and advise on the impact of proposed changes in Bank-wide policies on risk management methodologies, prudential ratios, systems and practices.
- Represent risk management at internal committees, cross-departmental working groups, external rating agency presentations, internal and external auditors’ meetings, new transactions and legal documentation discussions with the counterparties.
- Oversee risk methodologies and documentation and obtain approval from internal and external auditors.
- Holds at least a Master’s degree in Financial Engineering, Quantitative Finance, Applied Finance or a related field.
- Have a minimum of six (06) years of relevant experience in a financial institution or a consulting role, with at least five (5) years in regulatory capital or economic capital management. Experience with an MDB with emphasis on quantitative risk is an advantage.
- In-depth knowledge of credit risk management techniques, capital adequacy requirements, International Financial Reporting Standards, Basel Standards, quantitative financial and risk modelling tools.
- Hands-on experience in credit risk (PD, LGD and EAD) and economic capital models design, management and implementation is required
- Hands-on experience in the preparation of capital adequacy policies and/or reports for an MDB or a financial institution.
- Hands-on experience in modelling, maintaining and updating of software or models for regulatory capital or economic capital.
- Excellent problem-solving skills, project management and IT skills.
- Teamwork and relationships: Works with others to maximize the effectiveness of the team as a whole, sharing the knowledge and workload. Develops strong working relationships with colleagues and contributes to creation of a positive team environment.
- Problem-solving: Applies business knowledge to the resolution of problems and identifies solutions to the benefit of the client (internal and external) and the organization.
- Operational effectiveness: Uses efficiently the systems, procedures and culture within the organization in order to deliver the required results.
- Innovation and creativity: Active search for and produce innovative and creative approaches to activities in order to enhance performance and create added benefits to the Bank and its clients
- Ability to communicate effectively (written and oral) in English or French preferably with a working knowledge of the other.
- Competence in the use of standard MS Office applications (Word, Excel, Access, and PowerPoint). Experience with SAP and CreditManager environment is an advantage.
Interested and qualified candidates should:Click here to apply
Application Deadline 3rd April, 2021.
- This position is classified international status and attracts international terms and conditions of employment.
- Should you encounter technical difficulties in submitting your application, please send an email with a precise description of the issue and/or a screenshot showing the problem to: HR Direct HRDirect@AFDB.ORG(link sends e-mail)
- To apply for this position, you need to be a national of one of the AfDB member countries.
- Applicants who fully meet the Bank’s requirements and are considered for interview will be contacted. Only online applications submitted with a comprehensive Curriculum Vitae (CV) and copies of the required degrees will be considered. The President, AfDB, reserves the right to appoint a candidate at a lower level. The African Development Bank is an equal opportunities employer. Female candidates are strongly encouraged to apply.
- The African Development Bank Group (AfDB) does not ask for payments of any kind from applicants throughout the recruitment process (job application, CV review, interview meeting, and final processing of applications). In addition, the Bank does not request information on applicants’ bank accounts.
- The African Development Bank Group declines all responsibility for the fraudulent publications of job offers in its name or, in general, for the fraudulent use of its name in any way whatsoever.
- we are an equal opportunity employer and is committed to building a diverse workforce. While all applications will be acknowledged.
• We reserves the right to select one or more candidates from this vacancy announcement
• We may also retain applications and consider candidates applying to this post for other similar positions at the same grade level and with similar job description, experience and educational requirements
• Qualified female candidates are strongly encouraged to apply
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